THE ROLE OF MARKETING AND BRAND IN BANKING

Abstract

One of the key tasks for modern banks is finding ways and methods for creating sustainable competition advantage in increasingly competitive financial markets. The role of marketing within this task is beyond doubt, especially in bank services quality area. The quality is reached through putting clients in the epicentre and by giving them special treatment. Marketing has been a little slow in taking part in this financial, that is, banking area. This lag is being made up for by more personal attitudes to clients. Information technology application made this way of functioning easier, it created a data base which included some important personal dates in clients’ lives. The ambition to be different is closely connected to brand creation. Once it has been determined what makes a brand, it is necessary to express it through marketing activities. This very relation is the foundation for marketing and brand relationship. These are the main topics of this paper about banking sector specific points. Brands offer rational as well as emotional benefit. It will be even more stressed in the future.

Keywords

• marketing
• brand
• banking
• marketing mix
• client loyalty