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how is marketing useful to banking sector?
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Answer Posted / nandagopal.n
As the era of globalisation heats up...The traditional
marketing strategies of banks fail to work...They need to
break the shell..and design new avenues for reaching their
target group...The emergence of new generation banks and
other foreign players have reduced the market pie share of
banks..
In all the functions of an organisation..Marketing is the
only vital arm of an organisation that helps to unclutter
or differentiate or to position a bank's products ,services
and the organisation itself...
In marketing sales is the only revenue generation
funcntion...all others are supporting functions which adds
costs...
Thus,a clear alignment of the needs and wants of the target
group and the marketing startegies of banks is the key to
revenue generation...and also the panacea for survival and
growth...
Hope this answer is sufficient to convince any
interviewer...please do give me a feedback...
Thanks,
NANDAGOPAL.N
| Is This Answer Correct ? | 22 Yes | 2 No |
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