CHAPTER TWO
Conceptual Frame work of Marketing Mix
Marketing for Banks
Marketing is a total system of business activities designed to Plan, Price, Promotion and distribution satisfying goods and services to present and potential customers. According to the official definition of the American Marketing Association Marketing is the performance of Business activities that direct the flow of goods and services from producer to customer or user.The concept of Banks Marketing has been defined by various Banks Marketers as that part of management activity that seeks to direct the flow of banking service profitability to selected customers. The adoption of the marketing concept will recognize that Banks Customers are changing in terms of their wants, needs; desires, expectations, and problems Banks must define these in explicit terms and then evaluate their offering in customer’s terms. That is satisfying customers’ needs at a profit to the Banks.
Marketing Mix Adopted by the Banks
Marketing mix is the mixture of controllable marketing variables that the firm uses to pursue the sought level of sales in the target market.
We cam say that the 4P’s are interrelated and must be blended into one integrated whole to satisfy some target markets needs and performances. So, marketing mix is a set of product, price, promotion and place which are interrelated.