Foreign experience in the use of marketing in the banking sector

Abstract

The article is about the analysis and evaluation of the effectiveness of the marketing strategy in the banking sector as one of the ways to promote banking products and services in the financial market. The article discusses the concept of marketing concretized for the banking sector, as well as the tasks facing the marketing department of a commercial bank. It also carries out the analysis of the specifics of bank marketing revealing that it includes not only the fact of realizing the organization’s, product or service but the combination of both the philosophy and the strategy of such a credit institution at once. The author focuses on the study of the marketing measures use not only in relation to the bank itself, as an economic entity, but also to its customers, namely individuals and legal entities, as well as specialized firms providing marketing services. One of the main objectives of the article is to compare and analyze the marketing policy of banks with a share of foreign capital and national banks operating in Russia, as well as to identify trends and marketing communication tools used by foreign credit organizations that could be successfully applied in the national market.