A study of bank marketing as a subset of services marketing and clients choice criteria for marketing services in banks

Abstract

This study is mainly about marketing approach in Internationaland Turkish Banking System which attracted interest and provedapplicability in recent years. Nature of banks' end-products asbeing services instead of physical products necessiates utilizationof services marketing tools and techniques in bank marketing.Besides the general properties of services such as; intangibilityand human intensiveness, complexity of banking services provided,high level of risk involvement in lending transactions constituteimportant aspects in bank marketing, since they necessiate a closeinteraction between banks and clients. And also, intensified competitionin financial markets and decline in source loyalty of clients forcedbanks to change their former attitude and become more customer-oriented.In such an occasion, determination of client's choice criteria infinancial services buying decisions becomes crucial. Therefore, incontent of this study a research is conducted to determine the mostsignificant factors effecting clients' decisions. Findings of theresearch indicate that innovativeness and sophistication in bankingare primarily important factors in bank selection decisions whereasclients evaluate effectiveness of services and image of bank as otherimportant factors.Bank-client interaction should be emphasized, on the other hand,and more decisive and authorized salesperson should be employed in orderto create and maintain long-lasting client relationships.90dh3~R attitudewill also increase clients' satisfaction with services provided andimprove bank's image in client's point of view.