THE MARKETING IN THE BANKING SYSTEM IN KOSOVO

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1 FACULTY OF ECONOMICS DEPARTMENT: FINANCIAL MARKETS AND BANKS MASTER THESIS THE MARKETING IN THE BANKING SYSTEM IN KOSOVO Mentor: Prof.Dr. Jusuf ZEQIRI Candidate: Vjollca BERISHA Prishtina, April 2014

2 CONTENT Chapter I... Introduction... General introduction... The importance of the study of this issue... Questions and hypotheses... Aim of the research... Methodology of the research... Organization of the research... Limitations of the study... CHAPTER II... Literature Marketing concept Marketing function Marketing as a business function The marketing of services in the banking sector Marketing specificities of banking services Marketing mix in banking sector The product The cost The promotion The place Physical evidence People The process... CHAPTER III The banking system in Kosovo...

3 3.1 Central Bank of Kosovo (CBK) Role and duties of CBK Description of banks in Kosovo ProCredit Bank Raiffeisen Bank NLB Bank Banks for business National Commercial Bank Economic Bank TEB Bank Bank s offers in Kosovo Types of bank accounts that open in bank How to get loan from banks What is a check? Star Card E banking M banking... CHAPTER IV Presentation and analysis of data... CHAPTER V Conclusion... CHAPTER VI Suggestions / Recommendations... References... Annex A. Questionnaire...

4 INTRODUCTION 1.1 General introduction Marketing as a human activity is addressed to meeting the needs and desires of people through the process of exchange. So marketing has a mission of his "meeting the needs and desires of the people", but they can be different as the need for housing, purchase, equipments and various goods, insurance, etc., while banks must identify the needs and desires of consumers and then offer a product that satisfies a wish. Banking Marketing basically represents the modern approach to the business of commercial bank in terms of meeting the needs of current and future main purpose of marketing banker is the steady advance of depositary bank function in order to increase the potential creditor. The marketing concept is essentially for which banks contribute towards success: Banks that can not exist without customers, The Bank's aim is to create, win, and keep a customer, The customer is and should be the central focus of every thing that banks do. Marketing function should coordinate these activities with those of other operational areas, such as: production / operations, finance, personnel, etc., providing an effective business and profitable for the bank. Most private sector organizations operate with several types of objectives related to the acquisition if an appropriate level of profits can not be obtained from a separate group of consumers, their needs will not be satisfied. Generally, when an organization meet consumer needs, the ability to gain a competitive advantage over prize of its competitors, are provided with the opportunity to sell a greater volume and / or with a higher price than its competitors and results in achieving the objectives of profit in a special section of its competitors which may be bankrupt. Knowing the customer's buying behavior, consumer behavior has to do with mental and physical acts (behavior), including the motives and causes of their orientation, purchase, use, maintenance of goods and services. Behavior and care towards the consumers should be a working principle in all areas of your company. Consumer decision making is derivative of many impacts of factors: environmental impact (culture, social classes, reference groups such as friends, colleagues, family, neighbors, etc.).

5 CONCLUSION Research of this paper was "marketing services". The use of marketing mix in banking services is increasing day by day, so the banking marketing is very important for every bank. The main aim of this study has been the marketing mix (product, sale price, place and promotion) is important for a bank. Usage of 4P and 4C (customer solution, the costs of consumers, communications and commodities) for the bank and its application in the marketing concept of banking and marketing so it has become important for a bank, and the combination of 3P extra (people, process, physical evidence) are also very important for a bank. Banking marketing has become indispensable and is fundamentally changing the banking industry worldwide. Increasing of banking marketing is redefining the relations between the business and most successful banks will be those that can really strengthen their relationships with their clients. Technology and innovation and competition among banks have made possible a wide array of banking products and services being made available to consumers through an electronic network, referred to as e-banking. Technology is changing the relationship between banks and to its internal and external customers. In this paper they are given detailed records for Marketing of banking services. It's been a study that we conducted researches through the questionnaire by reflecting their products through marketing. In the final part according to the results issued by the realization of the research it shows clearly that what kind of products customers and banks prefer more. Marketing of banking services lately is being used quite well, where online services are being used through e-banking and mobile banking. Through this work a contribution in the provision of detailed information is realised which are applied in this important field of marketing banking services.