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Marketing efficiency in banking: concept, trends, key indicators

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  • M. A. Matveenko
  • V. V. Gerasimenko

Abstract

Increasing the marketing efficiency is an acute problem in the conditions of competition in the modern market of goods and services. Understanding the significance of marketing efficiency helps companies identify the priorities in developing a market policy. This explains the necessity to find ways to optimize it. The authors of the article present a study of marketing efficiency in banking, defining the basic trends and key indicators. They analyze the activity of banking services market and show the significance of using digital technologies in modern conditions. The authors take into consideration the fact that the marketing efficiency can be characterized as a function of improving a market policy by experts in order to optimize the resources used for achieving higher indicators both for short-term and long-term strategic goals. The topicality and novelty of the article are connected with identifying the pandemic's influence on marketing policy in banking. Increasing marketing efficiency will facilitate both the optimization of setting the priorities in companies' market policies and improvement of the quality of marketing resources to maximize the revenue.

Suggested Citation

  • M. A. Matveenko & V. V. Gerasimenko, 2022. "Marketing efficiency in banking: concept, trends, key indicators," Russian Journal of Industrial Economics, MISIS, vol. 15(1).
    • Handle: RePEc:ach:journl:y:2022:id:1004
    DOI: 10.17073/2072-1633-2022-1-116-124
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