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Evaluation and Priorities the Promotion Mix Elements for Corporate Banking Customers Using MCDM Methods In Eghtesade Novin Bank

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  • Mohammad Aghaei
  • Ali lotfi
  • Seyed Mohammad Armakan

Abstract

Among the mixed components of marketing, decisions regarding the promotion tools are very important due to their direct and rapid effect on the target market. With regard to the implementation of new models of banking business in recent years in Iran, the purpose of this research is to priorities the promotion mixas antecedent of integrated marketing communication and strongtools in order to influence the target market of corporative banking customers. The objective of promotion mix in the research emphasized the Increase sales volume, attract new customers, grow market share, enhance brand image, strengthen brand loyalty and increase profitability in the long term. For this purpose, with the help of marketing experts and using models of Multiple Criteria Decision Making (MCDM) methods such as AHP, TOPSIS, SAW, ELECTREand using Entropy weighting methods we have prioritized the components of promotion based on business goals. Finally, according to the fact that using the mentioned models had different results, we used the geometric mean of rates methodin finalized the finding ranking. According to the achieved finding, the different elements in order of priority to meet theconsidered business objectives in this studyinclude sales promotion, direct sales by the account managers, public relations and advertising, Objectives or ratings’ criteria.The finding illustrated that although ads are most effective in strengthening the brand, but the other two elements of personal selling and close sales promotion also has the most influence on corporative banking customers. The results of research shows that the most important instruments in advertising is television, in public relations is holding professional seminars for various industries, in advancing the sales is discount in the loan interest rate and fees, and in the in person sales also is verbal marketing by account managers of corporative banking.

Suggested Citation

  • Mohammad Aghaei & Ali lotfi & Seyed Mohammad Armakan, 2016. "Evaluation and Priorities the Promotion Mix Elements for Corporate Banking Customers Using MCDM Methods In Eghtesade Novin Bank," Modern Applied Science, Canadian Center of Science and Education, vol. 10(9), pages 122-122, September.
    • Handle: RePEc:ibn:masjnl:v:10:y:2016:i:9:p:122
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    References listed on IDEAS

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    JEL classification:

    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
    • Z0 - Other Special Topics - - General

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