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Promotional Strategies Direct Marketing and Technological Innovations in Banking

Author

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  • Valeria Arina BALACEANU

    (Faculty of Economics, Ecological University of Bucharest, Romania)

Abstract

Modern advertising strategies involve the use of a bank's media and consumer incentives, so that banking institution, and thus offer products/services to cause favorable changes in mentality and their consumption habits, also important is the establishment an effective communication with employees, shareholders, competitors. Promotion strategies are essential to business success. Success is guaranteed if the message is sent to the right people at the right time. Promotion has a special place in the marketing mix because it is created by, developed and made known image of the institution, services and products. Technological innovations, but fierce competition and changing purchasing behavior of the beneficiaries of banking services and products banks have challenged management, directing their work towards introduction of modern technologies to promote banking products and services. Adapting to new technologies and innovations in the field needs is strategic for any financial institution aimed at both retail and corporate activity which leads to improved operative staff, by targeting the growing activities of guidance, coordination and advice to clients.

Suggested Citation

  • Valeria Arina BALACEANU, 2011. "Promotional Strategies Direct Marketing and Technological Innovations in Banking," Journal of Knowledge Management, Economics and Information Technology, ScientificPapers.org, vol. 1(7), pages 1-13, December.
    • Handle: RePEc:spp:jkmeit:1234
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