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0III. MOLIYA, PUL-KREDIT VA BANK
THE ROLE AND IMPORTANCE OF MARKETING IN THE DEVELOPMENT OF THE ACTIVITY OF BANKS
Mirzaxmedov Sherzod Alimjanovich
Academy of Banking and Finance of the Republic of Uzbekistan
Master of Business Administration saidakrom2022@icloud.com
Abstract: In this article, the banking system plays an important role in ensuring the country's economic stability today. As a result of major reforms implemented in the field of bank marketing, its relations with consumers are changing. The article examines the role and importance of marketing in the activity of banks and reviews them.
Key words: bank marketing, banking services market, marketing tool, marketing opportunities.
The importance and tasks of bank marketing are increasing in liberating the banking system, which is one of the important branches of our country's economy, ensuring its stable development, improving the activity of commercial banks and their relationship with customers, increasing their capitalization level, and ensuring their wide participation in investment processes. Currently, there is a problem in the development of the market of banking services in our country, as well as the problem of improving customer relations in marketing activities.
By organizing marketing activities in the market of banking services, commercial banks will have the opportunity to achieve high economic results and ensure income growth. However, in the conditions of today's interbank competition, it is necessary to study the bank's capabilities and implement a marketing policy before implementing activities such as offering new innovative services.
Extensive scientific research is being conducted on the development of marketing strategy and its effective use in developing the activities of commercial banks in economically developed countries of the world and improving the efficiency of their relations with customers. They mainly cover the role of commercial banks in the economy, bank risks, their types and nature, and effective use of bank resources. However, in these studies, the current problems related to increasing the competitiveness of commercial banks through a customer-oriented marketing strategy are not sufficiently defined. The aspects of developing a marketing strategy for
increasing the profitability of commercial banks and thereby ensuring their profitability have not yet been positively resolved. This, in turn, determines the relevance of the research conducted in commercial banks in connection with the development of a customer-oriented marketing strategy.
In the decrees of the President of the Republic of Uzbekistan dated January 28, 2022 "On the new development strategy of Uzbekistan for 2022-2026" in order to maintain macroeconomic stability, improve monetary and credit, fiscal and structural reforms, determine measures for the effective implementation of state investments, expand online banking services and automated analysis of credit allocation. Tasks such as the establishment of a "Development Bank" have been defined for the development of industry and infrastructure in the regions. This is an urgent issue, such as improvement of bank-client relations and development of banking services.
The market of banking services is a special market with a complex structure, in which a huge amount of money flows in different directions at the same time and affects the state of the economy. The market of banking services consists of the capital market of commercial banks, securities and foreign exchange markets. In essence, the capital market of commercial banks consists of a set of special financial relationships that ensure the regular circulation of loan capital.
Marketing is a system of market research and management. Marketing is a social process aimed at satisfying the needs of organizations and people by providing free competitive exchange of goods and services. Marketing is about influencing consumers through market research.
Today, the increased competition in the market of banking services, at the same time, the incomplete formation of the inter-bank competition environment has a negative impact on the process of improving the quality and types of services provided by banks to the population and enterprises.
Providing new types of banking services in commercial banks of our country based on modern information technologies, e-commerce, electronic payments system and mutual settlements between economic entities serve to increase efficiency.
The purpose of bank marketing is to develop a system of activities to study customers, increase competitiveness and profitability. "Bank marketing" is defined as a certain demand in the market for concrete banking activities in the direction of aggregating savings and funds, as well as in the direction of granting loans. The main direction of bank marketing is to determine and analyze the ability of customers to pay. That is why it is very important for the bank to study the possibility and willingness of the borrower to repay the loan in accordance with the terms of the contract. It collects, processes, and analyzes customer information, summarizes it, and stores it for future use.
Bank marketing aims to fulfill the following tasks:
- determination of market opportunities;
- determining consumer needs in the market;
- to find specific directions in the market of banking services in order to fully satisfy consumer demand;
- setting short-term and long-term goals for the introduction of new types of services in the market of existing and future banking services;
- development of a program to implement new types of banking services and carry out bank control in this regard, etc.
In order to study the market of banking services and identify their future customers, commercial banks widely use stratification and market segmentation, traditional in industrial and trade marketing. In market segmentation, consumers are divided based on the characteristics of their demands and offers in the market of banking services. The method of segmentation in the market of banking services has been widely researched. In the method of classification, consumers of banking services are divided into groups based on socio-economic and demographic factors. In market segmentation, consumer characteristics are grouped in the market of banking services. In practice, marketing activities try to implement these methods in direct connection. This is the only way to achieve the effectiveness of marketing activities in the market of banking services.
Marketing service is built in cooperation with the work of all structural departments of banks. The inclusion of marketing in the management of commercial banks leads to the beginning of the emergence of a system of criteria for activity strategy and tactics, as well as the determination of market research and development measures. The introduction of marketing provides an opportunity to increase income and reduce the risk of banking. The need for marketing is determined by the mechanism of support through the coordination of the processes of banking activity developing in the market.
In short, the development of the banking market in our Republic and the use of various marketing strategies and wide use of advertising companies in order to attract new customers to their services are of great importance.
References
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