Marketing channels of banking products and services in contemporary business environment

Abstract

Marketing application in banking is dating back to the 50s of 20th century, and since then its role is constantly changing. His modern role of synthesis of analysis, planning and control of the bank in the financial markets, achieved by the use of instruments of marketing mix (product, price, distribution and promotion). The paper is an analysis of the distribution function, and is primarily an overview of the modern distribution channels of banking products and services in the US, as the most developed markets and global trends carrier. In the paper is drafted the comparison of traditional and alternative distribution channels, in order to compare their advantages and disadvantages with the aim to find the optimum balance between them with the purpose to, on the one hand, meet customer needs, and on the other increase the efficiency of banking operations and lowered costs.

Keywords

• distribution
• branch office
• mobile banking
• Internet banking