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Essay / Banking Marketing - 1826
Banking MarketingThe marketing approach in the banking sector gained importance after 1950 in Western countries and then after 1980 in Türkiye. The new market-oriented perception of banking has prompted banks to create a new market. Banks have started implementing marketing and planning techniques in the banking sector in order to be able to offer their new services effectively. The scope of marketing in the banking sector must be considered in the context of services marketing. The marketing strategy carried out is the case of determining the place of financial institutions in the minds of customers. Bank marketing not only includes the sale of the bank's services, but also constitutes the function that imparts the personality and image of the bank to its customers. On the other hand, financial marketing is the function that connects anomalies, differences and non-similar applications between financial institutions and the judgment standards of their customers. The reasons why the scope of marketing matters in the banking sector and why banks are interested in the subject of marketing can be organized as follows: Change in demographic structure: the differentiation of the population in terms of number and composition affects the quality and characteristics of customers who benefit from banking services. Intense competition in the financial services sector: Competition has become intense due to the growing acumen of international banks and has recently become open-ended for new companies in the sector. . The increased liberalization of interest rates has intensified competition. The desire of banks to increase their profits: Banks must increase their profits to create new markets, protect and expand their market shares and survive based on intense competition and demographic opportunity levels..