MARKETING APPROACH TO MANAGING THE EFFICIENCY OF BANKING
Journal Title: Економічна стратегія і перспективи розвитку сфери торгівлі та послуг - Year 2016, Vol 1, Issue
Abstract
An important prerequisite for a stable banking system is to ensure profitable banking. This is particularly relevant in terms of financial crisis, which has exacerbated the problems in the banking system. The question of the effectiveness is very complex and multifaceted as it concerns all areas and spheres of banking without exception, and is relevant not only for the individual bank but for the entire banking sector. Efficiency is a defining characteristic of the bank operation and is the main goal of its management. It is characterized by the ratio of the resulting economic benefits (financial results) to the cost of material, labor and financial resources at the disposal of the bank, and indicates how efficiently the funds of shareholders and investors are used. In order to measure the effectiveness of banking a variety of indicators of relative profitability are used, the most generalizing are the financial condition ratios: ROA (return on assets) and ROE (return on equity). The analysis of these parameters revealed the causes of their deterioration, including significant problems in bank management. In this connection, it is necessary to improve the bank management system, search for modern principles and effective approaches to the strategic and operative objectives, including the need to restructure the bank management processes based on the marketing principles, and implementing marketing approaches for managing the efficiency of the bank. Marketing approach focuses on consumer and professional flexibility in responding to customer needs in banking services and products, in contrast to other approaches to bank activity management focusing on solving more specific, internal operational problems. The implementation of marketing approach requires the development of comprehensive program for bank behavior, which involves development of bank strategies and tactics in the market to meet the needs of customers, which will positively affect the outcome of banking activity and will improve the efficiency of banking business.
Authors and Affiliations
Lyudmila Semeniuk
Keywords
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