The roles of marketing in bank management

As the role of the financial services sectors — banking, insurance, building societies, hire purchase, franchising, consumer credit and general household financial services, etc. — continues to grow in the economies of most of the Western nations, pressures are mounting for a more effective marketing management of the financial services offered by the banks. This applies especially to the banking sector, as it represents probably the most important financial sector, not just in terms of turnover, profits and employment, but also in its paramount impact on the other spheres of the economy. For these reasons, in the last few years there has been a growing interest in applying marketing techniques and tools in the field of banking. This growing interest has generated a relatively large number of publications, mostly descriptive, mainly in the last four to five years. Along with this change in approach has come a change in the banks’ services, training, attitudes and images, marketing strategies, and patterns of organisation and control as elaborated in this book.