What is bank marketing?

Important banking qna for banking aspirants, which is helpful in banking exam.

Created On: Mar 11, 2015 14:16 IST

The bank marketing is a specialized field of the marketing which has emerged following the extensive development of the general marketing and following the appearance, separation and development of services marketing. The services marketing as a distinct field is characterized by a peculiar content where elements can be found similar to material goods and other elements common to all services.

Concept of Bank Marketing

  • The bank marketing concept evolved following the significant increase in the developed countries of the financial sector and implicitly the banking sector.
  • The bank marketing is the marketing that applies in the universal bank's field and in the specialized bank's field.
  • Besides the insurance companies and savings institution for constructions, the banks are the most important offers on the market of financial services.
  • The bank marketing is also called marketing for services or for immaterial goods.
  • The adaptation of the bank marketing concept as an assembly of strategic and tactical decisions adopted in the management process and the bank existence, implies the consideration of the following elements

(a) Satisfaction of customer needs

(b) Increasing the bank profitability

(c) Employee's involvement

(d) Social responsibility

  • The bank marketing considers that the bank institutions must involve themselves to a great extent in the complex study of the customer's behaviour.

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