London, UK (PRWEB) September 16, 2014
The world banking industry is witnessing numerous changes related to the way the banking products and services are marketed. Thus, banks across both emerging and developed economies are using various customer segmentation strategies to show up their products among those of their competitors. These strategies help banks to increase their client pools and also the number of potential customers. In order to capitalize on this, banks have diversified and expanded their product portfolios, implemented new pricing strategies, and also expanded their geographical coverage.
Furthermore, banks also make greater emphasis on the technological aspects of their product offering, and make use of analytics to better understand consumers’ purchasing preferences and behaviors and, thus, be able to provide improved customer experience and personalized products. A number of banks in emerging and developed economies, encompassing ICICI Bank, Citibank, Bank of America, JP Morgan Chase and Barclays, have applied analytical tools with the aim to analyse large volumes of purchasing data, giving them a possibility to segment as well as target customers with specific services and products basing on levels of customers’ incomes, customers’ psychographic and demographic profiles, and also banking relationships. To deliver cost-effective services to a broad range of various customers, banking organizations need well-defined and executed segmentation plans.
New market research report “Insight Report: Best Practices in Marketing Retail Banking Products” worked out by Timetric is now available at MarketPublishers.com.
Title: Insight Report: Best Practices in Marketing Retail Banking Products
Date: September, 2014
Price: US$ 3,800.00
The new report offers a thorough discussion of the major marketing strategies used by banks with the aim to strengthen their brand values as well as target different customer groups with the use of effective product positioning and segmentation. Besides, the study reviews the top marketing trends in the retail banking sector, covers the situation in both developed and developing countries, points out and describes the key challenges faced by banks while formulating marketing campaigns, contains an in-depth analysis of the competitive scenario and also touches upon the banks’ customer segmentation, pricing and product strategies used by banks across the world.
- Look at the main technological and operational trends emerging in the world retail banking market.
- Review of the changing consumer behavior and preferences.
- Detailed competitive assessment.
- In-depth insights into the major geographical markets.
- Analysis of the key factors shaping the world retail banking sector.
- Holistic view of the top market growth challenges and opportunities.
- Thorough discussion of the most important issues faced by the players in the global retail banking market.
- Examination of the main distribution channels for banking products in various countries.
- Many more …
More new research reports by the publisher can be found at Timetric page.