Today one of the main directions in economy of Russia is the task of development of the banking sector. The task set for specialists can&'t be solved without application of such science, as marketing. Now the keen competition from foreign and domestic banking technologies is observed; increase of investment appeal of the country leads to growth of level of literacy and the population.
Modern problem definition for Russia in general and efficiency of functioning of a bank system in market economy dictate the new terms for development of marketing in the sphere of the relations developing between different banks between banks and direct their clients; the percentage policy and market grouping of banking services also purchase other structure.
Along with general management by cash flows in banking also importance of marketing increases in the financial sphere. In activities of banks application of marketing is caused:
• Strengthening of the competition to foreign banks;
• Emergence of non-bank financial institutions (pension, savings, insurance funds);
• Outflow of deposits from banks (market development of securities);
• The increasing customer requirements to banking services.
Thus, for increase of competitiveness banks are forced to resort to marketing: to develop strategic plans, to use marketing concepts, thereby adapting for changes in environment.
The question of the competitiveness of credit institutions has led to the need to study the market of banking services, to develop new kinds of them and fight for clients, or, in other words, to adopt the concept and methods of marketing, long-used industrial and commercial companies. First introduced in the practice of the individual elements of marketing (market research, advertising, etc.), and in 80-ies of XX century marketing has become a part of the bank management. Currently, banks need to focus on financial marketing, wearing comprehensive assessment of the actions of the bank, as well as create appropriate marketing structures.
Marketing this case should be regarded as an integral function of management. In the scientific literature the generally accepted definition of marketing there. Depending on the particular function performed by marketing, it is treated as a business philosophy, the system of sales management as a scientific discipline on the laws of the market, as a strategy for management decision as a function of management.
The variety of interpretations of the marketing associated with a variety of problems that it solves in various fields.
The main ones are:
• Increase market share controlled by the data business entity;
• Foresight (forecast) consumer demands for goods and services;
• Release of goods, works and services of higher quality;
• Ensure that the agreed terms of supply;
• Establishing the level of prices, taking into account the conditions of competition;
• Maintaining the reputation of the business entity consumers.
Thus, marketing deals with an exchange of goods, works or services for money between producers sellers - consumers buyers in its such form which leads to mutual advantage of each of the parties.
Field of activity of financial marketing is the financial market where the same subject can act at the same time as the seller of financial assets and as the buyer of these assets. So, bank, raising money of investors, is the buyer of financial assets, and investors their sellers. Issuing the credits to borrowers, the bank acts as the seller of the credit equity, and the borrower as his buyer. Therefore conditionally it is necessary to differentiate two types of investors: the investor the seller and the investor the buyer.
Financial marketing can be provided, as system approach of investors sellers to management of implementation of financial assets (money, securities, precious metals and stones) and investors buyers to management of accumulating of financial assets.
There are the marketing concept and the complex marketing activities. The concept of financial marketing characterize goal of investors in financial markets and the fact that these activities should be based on knowledge of consumer demand for financial assets in the knowledge of the law, which develops financial market. Investors - customers have different interests, needs, financial resources, and varying degrees of risk. Therefore, they have uneven demand for financial assets. Therefore, the investor-seller, offering their financial assets and services for customer service, should be clear on what group of customers rated these assets and services and how they can be potential buyers.
Hence, there are two lines of financial - business investors - sellers:
1) Focus on a massive, stable demand, which involves relatively low prices (exchange rates, interest rates) of the financial asset, limited maintenance services and large coverage of small investorov- buyers.
2) Focus on an unstable demand, ie for certain groups of investors - buyers (for example, the differentiation of their income level), suggesting relatively high prices (exchange rates, interest rates) a financial asset, a wider range of services for less coverage and investors - buyers.
Marketing activity begins with the dismantling of a clear classification scheme for financial assets, which means the distribution of the demand for separate groups according to certain criteria to achieve this goal.
The demand for financial assets can be classified in the psychophysiological reaction of investors - buyers. On this basis distinguish: a fixed alternative, impulsive demands.
Fixed - it is a steady demand for certain types of financial assets that are continuously provided the sellers of these assets. For example, deposits in banks with a minimum deposit amount of not more than $ 100; shares of the most prestigious banks and others.
The alternative - a demand for choice. When the depositor, after the analysis of their financial capabilities, level of profitability, profitability risk, decides on capital investments in financial assets. Basically it is a demand for such financial assets as foreign currency deposits and trusts, insurance certificates, pension policies, deposits to the amount of the contribution of more than 300 rubles, and others.
Impulsive - is unexpected demand, the investor - the buyer has already made his choice under the influence of the board of other customers, friends, advertising, or other factors, changes his mind. This includes mainly the demand for the securities, which advertised high dividends (interest) on deposits under the contract Selenga, etc..
The demand for financial assets can be classified by the degree of satisfaction of the needs of investors - buyers. On this basis allocate:
• Realized demand (being brought by the buyer, the demand is satisfied);
• Unmet demand for financial assets that are not commercially available or available, but the volume of proposals on the buyer&'s request lagging;
• The emerging demand, that is not clearly marked, emerging from the buyer, it is usually the demand for new types of financial assets and services for customer service.
To fully meet customer demand for financial assets, investors - sellers of the assets should take account of the above types of demand and their features.
Banking Financial Marketing related to the study of features for financial assets, their value, the factors influencing the demand, supply and the degree of satisfaction of the proposal. Therefore, bank financial marketing can be defined as a function of financial management, the content of which is to transform the needs of investors - buyers in income investors - sellers of financial assets.
Banking Financial marketing is a specific control function is aimed at flexible adaptation finance - business investor - the seller to the ever-changing financial market conditions.
Banking Financial Marketing as a function of financial management:
• aim at the effective implementation of the financial asset on the market;
• Prospective study of the financial market, adaptation to it and keeping it;
• Provides proactive investors - buyers and investors - vendors, their creativity and entrepreneurial spirit.
The process of bank financial marketing begins with a study of the needs of the investor - the buyer and each individual financial asset (for example, a deposit of 1,000 rubles, 5,000 rubles, and others.).
The second stage of the process of financial marketing is a comprehensive study of the financial market. It is conducted for each sector in order to identify demand, its capacity and market opportunities and determine the prospects for further improvement and expansion of each kind of financial assets and services.
With the research of the financial market and taking into account the study of the needs of customers the latest turn in the possibility of realization of a particular financial asset. After that is made up of financial marketing. It is a written document that includes useful information about financial assets of the sector of the financial market for the asset, the competitors, the aims and objectives of the investor - the seller in the field of marketing and means of solving them (human resources, material resources, and so on. n.). financial marketing plan is an essential document to give clear answers to the questions: who, when, where and how will uchuvstvovat in the implementation of a specific financial asset, who will buy it.
On the basis of the financial plan for the marketing plan is drawn up the organizational action, namely the planned life cycle of a financial asset and promotional activities. The life cycle of a financial asset is a certain period of time during which the financial asset has a viability in the market and ensures the achievement of the objectives of the buyer and the seller of the asset. From the life cycle of a financial asset is directly dependent on the level of profit as an investor - the buyer and the investor -prodavtsa on each of its stages.
For the life cycle of a financial asset are characterized by three stages: investment capital, the return on invested capital, receipt of revenues from it in the form of interest, dividends, discounts, etc.
For the investor, ie, for the investor - the seller and the investor - the buyer, capital investment means its investment costs to obtain them income. At the same return on capital can be formed by parts (for example, daily, monthly) or all at once (for example, one year). Therefore, such income can be considered cumulative (from the Latin. Cumulatio - increase, addition) income.
For the investor upon receipt of the cumulative return on invested capital are important three factors:
• The maximum value of the invested capital;
• The rate of turnover of capital (ie the speed of return on investment funds);
• The size of cumulative income in the last period of the capital invested, for example, in the last year.
The next stages of the process of financial marketing include organizing and conducting advertising and organization of work items on sale - purchase of financial assets (departments of banks, companies, stock shop, currency exchange, etc.).
Advertizing represents one of kinds of social information, i.e. means of communication between people. This information bears in itself an active novelty aspect. Advertizing influences human consciousness, so its methods shall be psychologically proved. The text of advertizing shall be bright, laconic and bright. Advertizing is based on certain principles: truthfulness (reliability), concreteness (the simple and convincing language providing profitability of advertizing), focus, planned character. Developing the promotion plan, it is necessary to consider the following requirements: advertizing shall be systematic to cover a large number of people; shall be interesting; when opening new banks, finance companies, funds and their branches it is necessary to apply all forms of advertizing (radio, a seal, posters, etc.).