scholarly journals INTEGRATED MARKETING COMMUNICATIONS OF COMMERCIAL BANKS IN THE CONDITIONS OF A HIGHLY COMPETITIVE MARKET: ESSENCE AND FORMATION

2021 ◽  
Vol 1 (1-2) ◽  
pp. 22-31
Author(s):  
Mariana Demko ◽  
◽  
Nataliia Kosar ◽  
Nataliia Kuzo
Keyword(s):  
Commercial Bank ◽  
Commercial Banks ◽  
Marketing Communications ◽  
Target Market ◽  
Integrated Marketing Communications ◽  
Integrated Marketing ◽  
Banking Institutions ◽  
Marketing Information ◽  
Banking Institution ◽  
Sales Systems

In this article, we analyze the dynamics of active operations of several Ukrainian banks. During the last three years, there was a declining trend in the number of commercial banks in Ukraine and their issued loans' size. In order to increase the assets of banking institutions of Ukraine, increase their income, banks need to attract new customers, increase the volume of products purchases by existing customers through active communication activities of commercial banks of Ukraine. The intensification of Internet use by banks opens new opportunities for the sales systems improvement and promotion of their products. The analyzed the main characteristics of the commercial bank marketing policy of communications and the basic principles of integrated marketing banking institutions formation and the mechanism of their implementation, which begins with the collection and analysis of marketing information, based on the mission, corporate and marketing bank goals. We argue that an essential stage in forming integrated marketing communications of the bank is to determine its target audiences, which are much more comprehensive than the bank's target market, a rational combination of individual components of the bank's communication complex. Integrated marketing communications of a commercial bank should aim at forming its image and reputation in the market, taking into account the existing competitive advantages of the bank. We determined that in the conditions of Internet spread, an essential component of the integrated marketing communications of a banking institution is online communications. We formulated the main goals and means of marketing communications realization of the bank on the Internet and developed proposals to improve the efficiency of the bank in social networks

scholarly journals Development of integrated marketing Internet communications in the activity of Ukrainian banks

2021 ◽  
Vol 5 (1) ◽  
pp. 101-112
Author(s):  
Mariana Demko ◽  
Keyword(s):  
Information Dissemination ◽  
Internet Marketing ◽  
Marketing Communications ◽  
The Internet ◽  
Integrated Marketing ◽  
Stage Of Development ◽  
Internet Users ◽  
Banking Institutions ◽  
Marketing Information ◽  
Foreign Banking

In modern conditions the Internet is developing rapidly. Marketing communications on the Internet is one of the main elements of Internet marketing of banking institutions and an important element in establishing relationships with target audiences and managing them, informing customers, improving the image of the bank. It is determined that the Internet today covers the information, communication and logistics areas of marketing communications of banks. The paper identifies the areas of integrated marketing Internet-communications in the activities of banks and their main elements to present their characteristic. At the present stage of development of Internet-communications in activities banking, it is advisable for banking institutions to use advertising, digital and creative strategies. It was found that the current trends in the development of marketing communications on the Internet also indicate the growth of Internet-communications in social networks as an important mechanism for interesting the bank customers and forming interaction with them and the development by the bank of its website, its attractive design, updating information on it. The results of the study showed that the largest share of Internet users in Ukraine uses mobile phones or smartphones, the number of which is growing, which expands the capabilities of banks in the field of Internet-communications. It was established that the most active banks in the media space are banks with state share: JSC CB «PrivatBank», JSC «Oschadbank», JSC «Ukreximbank» and banks of foreign banking groups such as JSC «Raiffeisen Bank Aval», JSC «OTP BANK», JSC «ALFA-BANK». JSC «FUIB» is among the banks with private capital. At the same time, the largest media activity of banks in 2019 was observed in banks of foreign banking groups, and in 2019, 2021 by the number of messages in state-owned banks. The analysis of the collected marketing information showed that the largest number of messages from the leading banks of Ukraine by categories of media was observed in the Internet media, as the Internet is a convenient, cheap and effective communication channel in all areas activities. The expediency of using the Internet to promote banking products is also due to the fact that recently the effectiveness of traditional channels for disseminating information about banks and their products has decreased. Key words: integrated Internet-marketing communications, banks, Internet marketing, mediaactivity of banks, means of information dissemination

scholarly journals DEVELOPMENT OF THE MARKETING COMMUNICATIONS OF COMMERCIAL BANKS THROUGH A SEGMENT-ORIENTED APPROACH

2021 ◽  
Vol 3 (38) ◽  
pp. 35-45
Author(s):  
M. Demko ◽  
N. Kosar ◽  
N. Kuzo ◽  
Jo. Pochopień
Keyword(s):  
Public Relations ◽  
Commercial Banks ◽  
Product Market ◽  
Marketing Communications ◽  
Marketing Communication ◽  
Banking Institutions ◽  
Marketing Information ◽  
The Impact ◽  
Personal Sale ◽  
Oriented Approach

Abstract. In the conditions of fierce competition in the market of banking products, commercial banks should develop measures to attract attention of customers and to develop their loyalty to the banking institution, the develop its brand and to increase its capital. It has been established on the basis of the analysis of secondary marketing information that the bank’s marketing communications play a significant role in this, but it is important to ensure the growth of their efficiency. This can be achieved using a segment-oriented approach to their development. The goal of the present article is to establish the preferences in different segments of the banking product market as far as certain marketing policy tools of the banking institution’s communications are concerned as well as to identify the features of the banking product market segmentation that reflect the difference in such preferences. The results of the collection and processing of the primary marketing information obtained from customer surveys and processed using the criterion allowed to establish the dependence of the impact of marketing communications tools of commercial banks on customers depending on their age and the actual absence depending on the customer gender. During information collection and processing all respondents were divided into three groups: of 18—35, 36—60, and above 60, depending on their age. Taking into account the results of the survey, the recommended structure of marketing communication components for banking institutions depending on the affiliation of customers to a certain market segment was developed, the means of dissemination of information appeals, recommended measures aimed at dissemination and their main content were identified. The analysis revealed that some tools of marketing communications of banking institutions affect customers belonging to different market segments. Here we primarily speak about personal sale and consulting customers during personal sale, implementation of the bank’s measures aimed at environmental protection, increased rates for deposit products. At the same time, it has been established that other bank marketing communication tools have an impact only on a certain target customer group. In particular, advertising on television and radio can be important for providing information to people above 60, and information on bank websites — to younger people. Public relations measures also differ in terms of the efficiency of their impact on respondents of different age. To be more specific, health care funding measures are more important for the elderly people, while assistance provision to the needy is more important for young and middle-aged people. Keywords: marketing communication policy, commercial bank, segment-oriented approach, advertising, personal sale, public relations, sales promotion measures. JEL Classification G20, G21, M31, M39 Formulas: 0; fig. 1; tabl. 7; bibl.: 14.

Integrated marketing communications and social marketing

2015 ◽  
Vol 5 (3) ◽  
pp. 226-240 ◽  
Author(s):  
Stephan Dahl ◽  
Lynne Eagle ◽  
David Low
Keyword(s):  
Social Context ◽  
Social Marketing ◽  
Marketing Communications ◽  
Commercial Application ◽  
Integrated Marketing Communications ◽  
Integrated Marketing ◽  
Content Type ◽  
Body Of Knowledge ◽  
Health Related ◽  
Social Marketing Campaigns

Purpose – The purpose of this paper is to examine the view of integrated marketing communications (IMC) by social marketing practitioners. Specifically, the paper furthers the discussion how a symbiotic relationship between IMC and social marketing can lead to both practical improvements of health-related social marketing campaigns, as well as theoretical advancement of the IMC construct. Design/methodology/approach – Based on semi-structured, in-depth interviews with practitioners, the authors provide exploratory evidence for support for IMC within the social marketing community and highlight potential differences and similarities when transferring IMC from a commercial to a social context. Findings – Three main differences emerged when transferring IMC from a commercial to a social context. These include differences of customer-centric approaches between commercial and social marketing, the need to weigh out the application of IMC to the charity brand or the use of IMC at a behavioural level and, finally, different complexity levels of desired behaviour as a mediating factor. Research limitations/implications – As with all qualitative data, the findings may not be generalisable beyond the interview participants and organisations studied. Practical implications – Many practitioners expressed that they liked IMC as a concept, but they lacked guidance as to the application with a social marketing context. This paper contributes to providing this guidance and establishing a body of knowledge how IMC can be applied in a non-commercial setting. Originality/value – The paper contributes to the practical development of guidance how the largely commercially applied IMC construct can be modified to be used in a social marketing context, while correspondingly highlighting how IMC needs to evolve to grow beyond purely commercial application.

Bridging the Gap in IMC Education: Where is the Academy Falling Short?

2009 ◽  
Vol 13 (1) ◽  
pp. 73-81 ◽  
Author(s):  
Andrea J.S. Stanaland ◽  
Amanda E. Helm ◽  
Lance Kinney
Keyword(s):  
Planning Process ◽  
Holistic Approach ◽  
Marketing Communications ◽  
Integrated Marketing Communications ◽  
Integrated Marketing ◽  
Power Shifts ◽  
Media Type ◽  
Strategic Goals ◽  
Client Side

Integrated marketing communications isn't new, but it's gaining momentum as power shifts from the marketer to the consumer and as marketers recognize the power and efficiency of taking a holistic approach to engaging consumers… For too long, marketing functions have been vertically organized by media type. This siloed approach is mirrored on the agency side, with rewards based on discipline-specific P&L models. These silos must be torn down…The client-side strategic integrator must involve and lead a team of colleagues who have the responsibility, vision, understanding and commitment to engage in a media-agnostic planning process. And this team of enlightened marketers must be willing to let strategic goals-not historic patterns- drive budget allocations. –Bob Liodice, Advertising Age, June 9, 2008

Co-creating value and developing social capital: Centre of Science for Villages (CSV), Wardha

2017 ◽  
Vol 7 (3) ◽  
pp. 1-22 ◽  
Author(s):  
Anagha Shukre ◽  
Naresh Verma
Keyword(s):  
Social Capital ◽  
Consumer Behaviour ◽  
Word Of Mouth ◽  
Opinion Leaders ◽  
Marketing Communications ◽  
Innovative Technology ◽  
Integrated Marketing Communications ◽  
Integrated Marketing ◽  
Content Type ◽  
Rural Markets

Subject area Marketing management, consumer behaviour, rural marketing and integrated marketing communications. Study level/applicability The case is for the use of undergraduate and also postgraduate students of management in courses of marketing management, consumer behaviour, rural marketing and integrated marketing communications. This case may also be used in human resources’ management course lectures which focus on social capital. Case overview This case on the Centre of Science for Villages (CSV), Wardha, attempts to identify how value can be co-created through innovative technology and how social capital can be developed for rural markets through the use of integrated marketing communications tools, particularly word-of-mouth and the influence of opinion leaders. Effective campaigns can be designed for the target audience based on the 3A framework (Awareness, Adoption and Addition of Value) and McGuire’s Model of Persuasion. The CSV has been typically chosen for the study because its products are unique, innovative and eco-friendly and blend well with the rural lives. It has been able to enrich the lives of rural population by generating employment and in creating entrepreneurial opportunities. The biggest challenge, however, lies in educating rural consumers to accept and adopt its innovative technology in their daily lives. Expected learning outcomes The case study has been written to enable students to understand the concepts of value co-creation and social capital in the context of Indian rural markets. The students will learn the dynamics of rural markets by pondering over these points: understand the concept of value co-creation for rural markets; comprehend the creation of social ecology for managing knowledge in an organisation; identify the development and role of social capital and use it as a promotional tool, particularly word-of-mouth and opinion leaders(reference groups); recommend the use of different marketing mix variables for an organisation, operating in rural markets; and connote designing of effective campaigns for the target audience, based on the 3A framework and the Persuasion Model (6 steps) suggested by McGuire. Supplementary materials Teaching Notes are available for educators only. Please contact your library to gain login details or email [email protected] to request teaching notes. Subject code CSS 8: Marketing

Sign in / Sign up

Export Citation Format

Share Document