📝 One-liners · 65 cards
MARKETING
What is the primary objective of marketing in retail banking?
The primary objective of retail banking marketing is to identify customer needs and deliver financial products and services that satisfy those needs profitably while building long-term customer relationships.
What is 'needs-based selling' in retail banking?
Matching bank products to identified customer financial needs.
What does the term 'marketing mix' refer to in banking?
The marketing mix in banking refers to the combination of the 7 Ps: Product, Price, Place, Promotion, People, Process, and Physical Evidence, used to design and deliver banking services effectively.
What is 'mass marketing' in the context of banking?
Marketing same product to all customers without differentiation.
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