Page: 01-05. Marketing of banking products: an empirical study on Bangladeshi banks
M. A. SALAM1 and M. A. KADER2*
1=Md. Abdus Salam, Lecturer, Department of Accounting,, Faculty of Business Administration, Asian University of Bangladesh, Dhaka and 2Md. Abdul Kader, Lecturer, Department of Marketing, Faculty of Business Administration, Asian University of Bangladesh, Dhaka, Bangladesh.
*Corresponding author’s Email: salam.ais.aub@gmail.com
ABSTRACT
The study was conducted at the Faculty of Business Administration, Asian University of Bangladesh, Dhaka, Bangladesh during February to March 2018 to find out the degree of correlation among marketing of bank products and the major determinants for its effectiveness. It was an empirical study of experimental research of exploratory method. We selected five banks namely Sonali Bank Ltd., Bangladesh Shilpo Bank, BRAC Bank Ltd, Dhaka Bank Ltd. and Dutch Bangla Bank Ltd. of different categories as sample and interviewed 30 respondents personally with questionnaire through a survey of convenience sampling of non-probability method. Coefficient of Correlation and Spearman’s rho was used for data analysis. From the study we found that, there is a strong correlation among marketing of bank products and other determinants for customer satisfaction and setting customer satisfaction based marketing strategy. Banking is a personalized service oriented industry and hence should provide services which satisfy the customers’ needs. The marketing tactic includes forestalling, classifying, responding and satisfying the customers’ needs and wants effectually, professionally and beneficially. It can be said that the presence of the bank has miniature value without the presence of the customer. The main role of the bank is not only to attain and win more and more customers but also to preserve them through operative customer facility.
Keywords: Marketing of banking products, Customer Loyalty, Industrial consolidation, Consumer trust and Digitization.