Theoretical Aspects Related to Banking Marketing

Abstract

The financial-banking sector is continuously evolving due to intense competition, making marketing a crucial element for financial institutions. This paper explores the role of marketing in banking institutions, emphasizing the need for a customer-oriented approach. It examines the key characteristics of banking services, including intangibility, inseparability, perishability, variability, and the high degree of imitation. Additionally, the paper discusses the financial marketing mix, detailing its components: product, price, promotion, placement, personnel, processes, and physical evidence. The study highlights how banks adapt their marketing strategies to maintain competitiveness and customer satisfaction in a dynamic market.