B. Marketing Vo Kriza

8/10/2019 B. Marketing Vo Kriza

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BANKARSKIMARKETINGU SVETSKOJEKONOMSKOJKRIZI - RIZIK I /ILIANSA?

Rezime

Bankarske panike, gubitak poverenja, povlaenje depozita, asimetrine informace, slab

plasman, visoki operativni rashodi a time i rizik nedovoljnog rasta i razvoja, samo su nekiu nizu negativnih efekata koji se mogu spreiti i kontrolisati bankarskim marketingom.

U okviru ovog rada obraene su odreene oblasti s ciljem da potpomognu razumevanju,

kako negativnih tako i pozitivnih, efekata primene marketinga u bankarstvu u uslovimaglobalne nansske krize ali i u periodima oporavka i izlaska iz krize.U radu prezentovana je korelativna veza dvojakog karaktera i izvedeni su odreeni

odnosi izmeu izdataka za marketing i protabilnost. Posebna panja stavljena jena razgraniavanje marketing procesa i marketing aktivnosti, poslovnu etiku kaoi na neophodnost uspostavljanja nove hararhe ciljeva banke a time i bankarskogmarketinga.

Kljune rei: bankarski marketing, bankarski menadment, interni marketing, ugledbanke, protabilnost, trini rizik, asimetrine informace, negativna selekca, bankarske

panike, poverenje, marketing procesi, marketing aktivnosti, etika

mr Boidarka B. Jankovi*

* Method, agenca za konsalting, marketing i mendment, Novi Sad [email protected]


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expert contributions

BANKMARKETINGIN TIMES OF

THE GLOBALECONOMIC CRISIS

- RISK AND/OR

CHANCE?Summary

Bank panics, loss of condence, deposit withdrawal, asymmetric information, weaklending activities, high operational expenditures, and thus the risk of insucient growthand development, are only some of the negative eects that can be prevented andcontrolled by means of bank marketing.

This paper covers certain elds in order to facilitate the understanding of both thenegative and positive eects of the application of marketing in banking, in times of theglobal nancial crisis, and also in times of recovery and emerging from the crisis.

The paper presents the correlation connection of a dual quality, and deduces certainrelations between marketing expenditures and protability. Special aention has beendevoted to distinguishing between the marketing processes and marketing activities,

business ethics, and the necessity of establishing the new hierarchy of bank objectives,hence the bank marketing, too.

Key words:bank marketing, bank management, internal marketing, bank reputation,

protability, market risk, asymmetric information, negative selection, bank panics,condence, marketing processes, marketing activities, ethics.

Boidarka B. Jankovi MA*

* Method, Agency for consulting, marketing and management, Novi [email protected]


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Cilj rada je da istakne znaaj bankarskogmarketinga, koji predstavlja izuzetnomono sredstvo ali i rizik za banke.Kriza nansskog sektora koja je pogodilaAmeriku alje opomene i koriguje teoru

bankarskog marketinga. Ova iskustva nunoje prilagoditi uslovima i implementirati ih nasrpsko bankarsko trite.

Jedna od ansi nalazi se u strategamapozicioniranja banaka i u pojaanomaktivnostima usmerenim ka internommarketingu, odnosno, zaposlenim u bankama.Podaci i istraivanja odeljenja za zatitu klenata

pri NBS ukazuju da u Srbi postoji gotovoizjednaen odnos opravdanih i neopravdanih

pritubi od strane klenata, to govori da postojipodjednak procenat neupuenosti klenata saprocentom nedovoljnih i nejasnih objanjenjazaposlenih u bankama. Takoe, evidentnaje prisutnost asimetrinih informaca, iuticaj znatno jaa u uslovima neadekvatneinformisanosti i loeg izvetavanja.

U

Banke su nansska posrednika preduzea.1

Pored ostvarivanja prota, cilj banke - preduzea

jeste da obezbedi kontinuiran rast i razvoj.Ostvarujui ove ciljeve banka zadovoljavaciljeve vlasnika, klenata i drutva kao celinete doprinosi napretku celokupnog privrednogsistema jedne drave. Interaktivan odnospreduzea i banke navodi na jedan metaforian

zakljuak. Ukoliko je novac krv privrednihsistema onda je bankarski sektor srce koje ini

da krv stigne u sve delove sistema kako biomoguilo njegovo nesmetano funkcionisanje.Navedena metafora moe posluiti boljemrazumevanju fenomena rapidnog prelivanjabankarskih kriza na celokupnu privredu.Poslednjih godinu dana svedoci smo ovogprocesa koji u eri globalizace, tehnolokemodernizovanosti i informatike pismenosti,doba posebno ubrzanje. Efekat akceleratoramoemo posmatrati dvojako, odnosno, kao

mogunost da se kriza prevazie mnogo bre.Makroekonomski posmatrano moe se reida se svetska privreda nalazi u fazi korekca

i uspostavljanja nove take ekvilibruma toujedno znai i realokacu resursa na globalnom

nivou. Mikroekonomski posmatrano na nivouSrbe, u ovom sluaju uteno je, to kao i kodostalih zemalja u razvoju, naa privreda jo

uvek ne dotie taku minimuma razvenihzemalja. Isto to vai i za primenu bankarskogmarketinga u emu naa zemlja kasni pardecena.

U prethodnoj konstataci lei ansa kojuvalja iskoristiti. Uzimajui faktore koji deluju iz

okruenja, pri tome posebno privredna kretanja,

nansskom sektoru ostaje niz mogunosti,tehnika, metoda, instrumenata, koje kodnas nisu jo zaivele a korekce u mnogim

podrujima teorske nauke bankarskogmarketinga, koje je nova kriza izazvala, moguomoguiti Srbi priliku da iste implementira itime izbegne negativne efekte.

Ugled banaka kao funkcaprotabilnosti i ouvanja poverenja

Pojaana konkurentnost usled pojavevelikog broja stranih banaka na domaem

tritu, donela je i novu marketinku kulturuali i uslovila potrebu za upoznavanjemnajire javnosti sa raznim segmentima

bankarskog poslovanja. Zahvaljujui medimai marketinkim kampanjama, graani suinformisani o razliitim uslugama koje bankenude, dok struna javnost sve ee imapriliku da putem strunih skupova stekneuvid u aktuelne svetske trendove i novine u

bankarstvu.

Kao u mnogim drugim delatnostima takoi u bankarstvu, ugled je izuzetno bitan faktorali i merilo uspeha. Za svaku banku, bez obzirada li tek osvaja trite ili je na njemu prisutnagodinama, gubitak ugleda predstavlja velikupretnju. Kljuna re koja se pojavljuje u svimkampanjama u ovoj sferi jeste sigurnost i onaujedno predstavlja osnovni preduslov za dobar

imid banke u javnosti. Sigurnost je uslovljenabezbednou, bez koje nema pozitivnog utiska

o jednoj banci. Najvei rizik za poslovanjebanke predstavljaju gubitak ugleda i krizapoverenja.

1 ljivananin, Mlaen.


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The objective of this paper is to underlinethe importance of bank marketing,which is an extremely powerful tool,but also a risk for the banks. The crisis in thenancial sector of the USA acts as a warning

and modies the theory of bank marketing. Itis essential to adjust these experiences to thecircumstances in Serbia, implementing theminto the Serbian banking market.

One of the opportunities lies in the bankpositioning strategies and the increasedactivities directed at internal marketing, i.e.bank employees. The data and the researchof the client protection department within theNational Bank of Serbia indicate that the ratio

of justied and unjustied client complaints inSerbia is almost equal, which, in turn, showsthat the percentage of uninformed clientsmatches the percentage of insucient andunclear explanations by the bank employees.In addition, the presence of asymmetricinformation is evident, the inuence of whichis signicantly increased in the circumstances of

inadequate communication and unsatisfactoryreporting.

Introduction

Banks are nancial intermediationenterprises1. Apart from yielding prot, theobjective of a bank - enterprise is to achievea continuous growth and development. Byachieving these goals, a bank achieves thegoals of owners, clients and the society as awhole, thus contributing to the development

of the entire economic system of a country.The interactive relationship between anenterprise and a bank points to a metaphoricconclusion. If money is the blood of aneconomic system, then the banking system isthe heart pumping the blood into all partsof the system in order to enable its normalfunctioning. This metaphor can facilitate beerunderstanding of the phenomenon of rapid

bank crisis spill-over onto the entire economy.

In the last year we have witnessed this processwhich in the era of globalization, technologicalmodernization and information literacy gets

additionally accelerated. The acceleratoreect can be viewed in another way, i.e. as apossibility to overcome the crisis much quicker.

From a macro-economic perspective, one cansay that the global economy is in the stage of

modications and establishment of the newequilibrium point, which at the same timeimplies the re-allocation of resources on a global

level. From a micro-economic perspective, what

is comforting for Serbia in this case is that, likein the other developing countries, its economystill does not reach the minimum point of thedeveloped countries. The same holds for theimplementation of bank marketing, in whichSerbia is a couple of decades behind.

The previous statement contains anopportunity that should be seized. Bearing inmind the factors coming from our surroundings,

especially the economic trends, the nancialsector is still le with a number of possibilities,techniques, methods, instruments, which arenot yet used in Serbia, and corrections in manyelds of the theoretical bank marketing science,

caused by the current crisis, may provide anopportunity for Serbia to implement them, thus

avoiding any adverse eects.

Bank Reputation as a Way toProtability and Preservation ofCondence

Tougher competition due to the largenumber of foreign banks in the domesticmarket has brought the new marketing culture,

but also created the need for the general public

to be informed about the various segments ofbanking. Thanks to the media and marketingcampaigns, the citizens are informed aboutdierent services oered by the banks, whereas

the expert audience more and more frequentlyhas a chance to gain insight into the currentglobal banking trends and innovations at thevarious professional gatherings.

Just like in many other elds, reputation isan extremely signicant factor in banking, as

well as a measure of success. For each bank,regardless of whether it is in the middle ofconquering the market or has been present

1 ljivananin, Mlaen


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Ugled se gubi zbog negativnog publicitetaa posebno ukoliko se u javnosti pojavespekulace o nekoj aferi u vezi sa bankom. Loa

slika u javnosti moe biti izazvana i nemarnimodlaskom klenata i zaposlenih. Pretnju

za ugled banke predstavljaju informace osumnjivim licima koja u odreenim bankamaotvaraju raune ili to ine razne teroristikeorganizace i kriminalne grupe. Faktori kojimogu da narue ugled banaka jesu i otkrivanjeveih prevara u koje su bili ukljueni zaposleni

banke, neadekvatna obuka i zatita zaposlenih,negativne medske kampanje i sl.

Nedovoljna edukaca novinara o monetarnoj

politici i bankarskom poslovanju, u kombinaci

sa potrebom za senzacionalizmom, izlae bankedodatnom uruavanju poverenja.

Ugled banke mogue je zatiti razliitimprocedurama koje e vaiti za sve zaposlene imenadment banke.

Lina reputaca direktora banke odposebnog je znaaja, banke se gotovopoistoveuju sa prolom linosti koja je naelu. Posebno je vano naglasiti da se priizboru menadmenta banke zbog predhodno

navedenog mora voditi rauna ne samo oprofesionalnim sposobnostima i poslovnoj etici

ve i o moralnim karakternim osobinama pa i oprivatnom ivotu linosti koja se bira na mestogeneralnog direktora.

Uticaj bankarskog marketinga natrini rizik i protabilnost

Trini rizik2predstavlja rizik nepovoljnih

odstupanja trinih vrednosti harta odvrednosti u portfolu banke koje su uzrokovane

kretanjima trinih parametara, u perioduposedovanja harta. Bazel II standardima trini

rizik se denie kao rizik gubitaka u bilansnim i

vanbilansnim pozicama koji nastaje iz kretanja

trinih cena. Denisane su i dve grupe: Rizici sadrani u instrumentima vezanim za

kamatnu stopu i vlasnike uloge i

Devizni rizik i robni rizik irom banke.

Osnovni pokretai trinog rizika sukamatne stope, devizni kursevi, berzanskiindeksi. Trite brzo reaguje na razliite

signale korekcom cena harta od vrednosti itime se utie na vrednost ovih portfola banaka.

Trini rizik je dobio na znaaju u poslednje dve

decene o emu svedoe i standardi doneti iz ove

oblasti. Bazelski komitet za supervizu banaka

je svoje prvobitno angaovanje usmeravao nakreditni rizik. Od devedesetih godina prologveka u ii njegovog interesovanja nali su se ioperativni i trini rizik. Razlog ovakvoj odlucisu aktuelna deavanja na svetskom nansskom

tritu. Velike investicione banke iskusile suznaajne probleme kada je trite poelo dareektuje teko stanje u bankarskom sektoru,uzrokovano neadekvatnim odobravanjemkredita i sumnjivim transakcama, i ukazalo

na znaaj simultanog upravljanja kreditnim,trinim i operativnim rizicima.Bankarski marketing kao deo funkce

upravljanja bankom, samim tim i funkceupravljanja trinim i drugim rizicima na nivou

banke, ima znaajno mesto u ovom procesu.Efekti njegove primene zavise od toga koliko su

strategom poslovanja banke jasno denisanii realno postavljeni ciljevi i kako je denisanastratega marketing aktivnosti u banci. Osim

toga, ovi efekti zavise i od kvaliteta informaca,njihovog neometanog protoka, odnosnopravilnog razumevanja u odnosu na poslovnookruenje i fazu poslovnog ciklusa.

Asimetrinost informaca i trinirizik

Bankarski menadment i osnovesavremenog bankarstva poznaju odnose i

trendove u kretanju depozita, obaveznihrezervi, kamatnih stopa i zajmova u zavisnostiod promena nivoa privredne aktivnosti. Tako je

poznato da kretanje depozita pokazuje ciklinu

konguracu, jer je rast depozita relativno nizak

u vreme ciklinog uspona privrednih aktivnosti

da bi akceleracu dobio u vreme recesa.Kamatne stope pokazuju prociklicne

oscilace to znai da imaju tendencu darastu u fazama uspona privredne aktivnosti i

da padaju u vreme slabe konjukture. U skladusa procenom kretanja tranje za kreditima iobavezom ouvanja likvidnosti, banke sprovode

2 Regionalni Bazel II portal www.bazel2.rs


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at the market for years, loss of reputation isa serious threat. The key word featured in allcampaigns in this sphere is security, and at the

same time, it represents the basic preconditionfor a bank to have a good image in the general

public.Security is conditioned by safety, withoutwhich a bank can make no positive impression.

The biggest risks for bank operations are theloss of reputation and the condence crisis.

Reputation can be lost due to the negativepublicity, particularly if there are somespeculations in the public about a certain aairin connection to the bank. The bad publicimage can also be caused by irresponsible loss

of clients and employees. The threat for a banksreputation can also be in the form of information

about suspicious people who open accountswith certain banks, or about various terroristorganizations and criminal groups who do so.The factors that can have a detrimental eecton a banks reputation are detection of largefrauds involving the employees of a certainbank, inadequate training and protection ofemployees, negative campaigns in the media,

etc.Insucient education of journalists in respect

of the monetary policy and banking operations,

combined with their urge for sensationalism, exposes

banks to additional damaging of condence.

A banks reputation can be protected bydierent procedures that would include allemployees and the banks management.

The personal reputation of the banksmanaging director is of crucial importance, since

banks are almost identied with the prole ofthe person in charge. It is particularly important

to underline that, due to the above mentioned,when choosing a banks management, oneshould pay aention not only to the professional

capabilities and business ethics, but also to themoral and character traits, even the private lifeof the person who is to be appointed managingdirector of the bank.

Impact of Bank Marketing to MarketRisk and Protability

Market risk2 is the risk of unfavourableuctuations in market value of the banks

portfolio securities, caused by the marketparameters trends, in the period of securitiespossession. Basle II standards dene marketrisk ad the risk of losses in balance sheet ando-balance sheet positions, caused by thetrends in market prices. The following twogroups are dened: The risks contained in the interest rate and

equity related instruments; and

The FX risk and the commodity risk across the

bank.The main drivers of market risk are interest

rates, foreign exchange rates, and stock exchange

indices. The market reacts quickly to varioussignals by correcting the price of securities,thus inuencing the value of the banksportfolios. Market risk has gained importancein the last two decades, which is conrmedby the standards adopted in this eld. BaselCommiee on Banking Supervision directed

its rst eorts to credit risk. From the 1990sonwards it also focused on operational andmarket risk. The rationale behind this decisionwas the current events at the global nancialmarket. Major investment banks experiencedsome serious problems when the market started

reecting the dicult situation in the bankingsector, caused by the inadequate extension ofcredits and dubious transactions, and pointedto the signicance of the simultaneous credit,

market and operational risks management.Bank marketing, as a part of bankmanagement, and, as a maer of course,market and other risks management on a banklevel, plays a signicant role in this process.The eects of its application depend on howclearly and realistically the objectives aredened by the bank business strategy, and onhow bank marketing strategy itself is dened.In addition, these eects also depend on the

quality of information, their free ow, i.e. theproper understanding in respect of the business

environment and the business cycle stage.

2 Regional Basle II portal, www.bazel2.rs


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odreene mere s ciljem prilagoavanja svojebilansne strukture, kako u fazama privrednoguspona tako i u fazama recese. No, onou emu je problem jeste nedovoljno dobrainformisanost marketing odeljenja banaka o

bankarskom marketingu u uslovima recese, alii ekspanze, to je posledica malog broja studa

i analiza koje povezuju efekte marketinga saostalim pokazateljima uspenosti poslovanja

banke.Ovaj problem za posledicu ima jednostrano

pridavanje veeg znaaja marketingaktivnostima i agresivnim kampanjama, koje,kada je re o rastu tednih depozita u recesi na

primer, nemaju eljeni efekat. Ono na ta bi se

marketing odeljenje na takvom nivou privredneaktivnosti trebalo pre svega usmeriti jesterazvoj i jaanje sigurnosti, poverenja i internimarketing. Da bi se to kvalitetno sprovelo,neophodno je primeniti marketing procese,odnosno, implementirati ih u svim odeljenjimana nivou banke.

Jedan od problema koji je u Americi imaosnaan uticaj jeste i deregulaca trita, u kojim

uslovima dolazi do izraaja problem asimetre

informaca. Ovaj problem znatno se uveavausled nedostatka ili zoupotrebe nansskihizvetaja. Iako je zadatak prudencionesupervize pre svega umanjivanje ovogproblema, moe se zakljuiti da ona ne uvek

blagovremeno reagovala.Sa aspekta marketinga i sigurnosti klenata

posebno je vano informisanje o stvarnomnansskom stanju banke, o emu govorii stub tri Bazela II, koji naglaava znaaj

transparentnosti u jaanju trine discipline.Nedovoljna i nekvalitetna informisanostkreira klimu nepoverenja i banku, u krajnjem,izlae riziku da klenti povuku depozite, atime i riziku nelikvidnosti, insolventnosti pai likvidace. Na nivou celokupne privrede,nedovoljna informisanost moe da rezultirapovlaenjem novca iz regularnog opticajai poveanom potranjom za devizama, tougroava vrednost domae valute, ali slabi i

kreditni potencal banaka. Negativni efektivezani za probleme nedovoljne informisanostise odraavaju i na fondove, kao i na tritekapitala.

Dakle, nedostatak informisanosti deponenata o

kvalitetu bankarske aktive najee se manifestuje

kao gubitak poverenja klenata u odnosu na banku

i kao bankarska panika, to moe imati ozbiljne

posledice na ekonomu. O ovim problemima govore

dve teore.

Gubitak poverenja

Teora asimetrinih informaca jedominantna teora koja objanjava efekteasimetrinog kretanja informaca na gubitakpoverenja klenata u banku, kao jednog odglavnih uzroka bankarskih kriza. Asimetrineinformace predstavljaju situacu u kojojjedna strana u nansskom ugovoru imamanje preciznih informaca nego druga

strana. Na primer, klenti koji uzimajukredit obino imaju mnogo bolje informaceo potencalnim prinosima i riziku koji jepovezan sa investicionim projektima kojeplaniraju da preduzmu nego to je to sluajsa zajmodavcima, odnosno bankama. Ovakvasituaca dovodi do dva bazina problemau nansskom sistemu. Jedan je negativnaselekca, a drugi, koji se nalazi u osnoviove negativne selekce, je moralni hazard.

Savremena bankarska praksa esto registrujesituace u kojima su klenti spremni da sezadue daleko iznad svoje kreditne sposobnosti

i da prihvate cenu kapitala koju nisu u stanjuda plate. Istovremeno, banke, voene iskljuivo

komercalnim razlozima, podleu moralnomhazardu i odobravaju kredite ovakvimklentima. Ovakve poslovne transakcerezultiraju vrlo rizinim kreditnim portfoliom

banke, a u osnovi su rezultat operativnog rizika

(kategora ljudski faktor - neadekvatna procenakreditne sposobnosti zaposlenih u banci), nakoji se zatim nadovezuju kreditni ili trinirizik kao posledica moralnog hazarda u koji se

banke uputaju. Okvir asimetrinih informaca

objanjava zato banke imaju ak vanu ulogu

u nansskim sistemima u zemljama u razvoju i

tranzici (Srba). Kada je kvalitet informaca oklentima - rmama slab izraeni su problemi

asimetrinih informaca. Analiza asimetrinih

informaca je posebno korisna za razumevanjezato je prudenciona superviza bankarskogsistema neophodna, odnosno, zato vlade

biraju odreene tipove supervize.


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Asymmetry of Information andMarket Risk

Bank management and the fundamentals ofmodern banking cover the relations and trends

in deposits, required reserves, interest rates,loans, in relation to the changes in the level ofeconomic activity. Thus, it is well known thatdeposit trends tend to follow a cyclical paern,since the growth of deposits is relatively lowin times of the cyclical expansion in economicactivities, only to be accelerated in recession.

Interest rates follow pro-cyclical oscillations,

which means that they have a tendency togrow in the stages of expansion in economic

activity and drop in times of weak conjecture.In accordance with the assessment of creditdemand trends, and the obligation ofpreserving liquidity, banks implement certainmeasures in order to adjust their balance sheets,

both in economic expansion, and in recession.However, the real problem is that the banksmarketing departments are insuciently wellinformed about bank marketing in recession,

but also in expansion, which comes as a result

of a small number of studies and analysislinking marketing eects with the remainingindicators of a banks business success.

This problem results in more weight beinggiven one-sidedly to marketing activitiesand aggressive campaigns, which, in respectof growth of savings deposits in recession,for instance, have no desired eect. Whata marketing department should primarilyfocus on in such economic activities is the

development and enhancement of security,condence and internal marketing. In order toachieve this in a satisfactory way, it is necessary

to apply marketing processes, i.e. to implement

them into all bank level departments.One of the problems which made a major

impact in the USA was the market deregulation,

in which circumstances the problem ofinformation asymmetry becomes more explicit.

This problem is considerably amplied due to

the lack or abuse of nancial reports. Althoughthe purpose of prudential supervision is, above

all, to reduce this problem, it may be concluded

that its reactions were not always timely.From the point of view of marketing and

clients security, it is particularly important to be

well informed about the true nancial positionof a bank, which is provided in the third pillarof Basle II, emphasizing the signicance oftransparency in tightening market discipline.

Insucient and low-quality communication

creates a climate of distrust, and, ultimately,exposes the bank to the risk of depositwithdrawal by the clients, and, in turn, tothe risk of illiquidity, insolvency and evenliquidation. On the level of entire economy,insucient communication may result inmoney being withdrawn from the regularcirculation and foreign exchange demand being

increased, which jeopardizes the value of thedomestic currency, and also weakens the banks

credit potential. The adverse eects related tothe problems of insucient communication also

have an impact on funds and capital market.Therefore, the lack of communication with the

clients about the quality of bank assets is usually

manifested through the loss of the clients condence

in the bank, and through the bank panic, which may

have some serious repercussions for the economy.

There are two theories dealing with these problems.

Loss of Condence

Theory of information asymmetry is adominant theory explaining the eects of theasymmetric ow of information on the clientscondence in a bank, as one of the main causesof bank crises. Information asymmetry is asituation in which one party in the nancialcontract has less accurate information thanthe other party. For example, the clients

applying for a loan usually have much beerinformation about the potential yields andrisk related to the investment projects theyplan to undertake, than the lenders, i.e. banks.Such a situation causes two basic problems inthe nancial system. The rst one is adverseselection, and the other, which is in the base ofadverse selection, is moral hazard. The modern

banking practice oen records such situationsin which the clients are willing to go into much

more debt than their creditworthiness allows,accepting the price of capital they are notcapable of paying. At the same time, the banks,guided by exclusively commercial reasons,succumb to moral hazard and extend credits tosuch clients. These business transactions result


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Bankarske panike

Teora bankarske panike ima vievaranti. Po jednoj, bankarske panike suoni sluajni dogaaji koji nisu povezani

sa promenama u realnoj ekonomi, ve surezultat mob psihologe ili mas histere.Po drugoj, ukoliko postoje vrsta uverenja dae se bankarska panika pojaviti, optimalno jeza svakog pojedinca da povue svoja sredstva.Deponenti koji izvre inicalno povlaenje,prvim dolaskom odnosno prvom uslugomdobie vie nego oni koji ekaju. Ukoliko nikone anticipira da e se panika desiti, samo oni satrenutnim potrebama za likvidnou povlaie

svoja sredstva. Nee biti panike uz pretpostavkuda banke imaju dovoljno likvidnih sredstava.

Ipak, postoji jo jedan aspekt posmatranja skojeg su bankarske panike prirodna posledicaposlovnog ciklusa, a kao uzroci, navode sedve vrste faktora: makroekonomski (recesai odnosi razmene) i mikroekonomski (slabasuperviza i regulaca i slab menadment)

Korelaca ukupnih izdataka za

marketing i prota

Zbog nedovoljno duge sere podatakao kretanjima odabranih varabli (izdatakaza marketing i prota), prisutnost pozitivnekorelace razmatramo na hipotetikom nivou.Dakle, ukoliko izolujemo ostale faktore3kojiutiu na protabilnost, putem rasta poverenja,time i depozita, zatim, rasta plasmana,odnosno trinog uea, mogue je primenom

bankarskog marketinga pozitivno uticati naukupan prot banke. Izdacima namenjenimprvenstveno reklami i propagandi u svestipotroaa stvara se slika banke, pojaanimprisustvom u medima vri se nevidljivipritisak na klente koji donose konanuodluku o izboru banke. Meutim, upravo tajpritisak izlae banku poveanju rizika gubitkapoverenja.

Pozitivna korelaca izmeu trokova marketinga

i prota, postoji samo do odreenog nivoa kojimoe biti limitiran procentom trinog uea,

principima bankarskog poslovanja i ukupnomuspenou. Ukoliko je banka nansskistabilna i uspena u poslovanju, pozitivnakorelaca je odriva na dugi rok.

Ukoliko, meutim, postoje indikatori koji

ukazuju na probleme u poslovanju i slabenansske rezultate , pojavljuje se ogranienje,odnosno gornja granica kada korelativanodnos moe promeniti smer. Posmatranevarable postaju negativno korelisane, trinouee banke poinje da stagnira, ime se moenaruiti postojei imid banke, a trino ueemoe poeti da blago opada. Ovakva situaca,takoe, moe se negativno reektovati napasivu banke, odnosno na postojee depozite

im naglim povlaenjem banka moe ui uproblem nelikvidnosti, pa i nesolventnosti.Ukoliko je banka prethodnih godina

izdvajala visoke iznose sredstava za trokovemarketinga, bez odreivanja marketingstratege na nivou celokupne banke, izloena

je problemu visokih operativnih rashoda, a time

i riziku nedovoljnog rasta i razvoja, odnosno,riziku neadekvatnog bankarskog marketinga.

Posledice ovog problema su gubitak

poverenja usled diskontinuirane primenemarketinkih aktivnosti, ime se aljenegativna poruka o moguoj krizi u toj banci,to za posledicu moe imati daleko sloenenegativne uticaje.

U novom scenaru, kada deluje negativnakorelaca, poinju izraene da deluju ostalifaktori koji utiu na protabilnost, a daljiizdaci za marketing ne ostvaruju vie korist,ve poinju da imaju negativan uticaj.

Graki prikazi koji slede ujedno mogu dapotvrde hipotetiki zakljuak.

3 Indikatori protabilnosti mereni pokazateljima ROA, ROE, EM, AU, pokazatelji likvidnosti, kamatonosne aktive, nansskestrukture, operativnih rashoda, neto kamatne mare.

Slika 1. Kretanje trokova marketinga i prota- korelaca menja smer i postaje negativna


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in the very risky bank credit portfolios, andare, in essence, the result of operational risk(category of human error - inadequate creditcompetence assessment by the bank employees),

accompanied by credit or market risk, as a

consequence of the moral hazard banks havesuccumbed to. The framework of informationasymmetry explains why banks play an evenmore important role in the nancial systemsof the developing countries and countriesin transition (Serbia). When the quality ofinformation about the corporate clients is low,the problems related to information asymmetry

are manifested to a greater extent. The analysisof information asymmetry is especially

benecial for understanding the necessity ofthe banking system prudential supervision, i.e.the governments choice of the certain types ofsupervision.

Bank Panics

The theory of bank panic has severalversions. According to one of them, bankpanics are those accidental events unrelated

to the changes in real economy, but occurringas a result of the mob psychology or masshysteria. According to another theory, if thereis a rm belief that a bank panic will occur,it is optimal for each individual to withdrawtheir funds. The clients who conduct the initialwithdrawal, in the rst round, i.e. in the rstservice, will receive more than those whohesitate. If nobody anticipates the panic, onlythose with current liquidity requirements will

withdraw their funds. Thus, the panic will notoccur, provided that the banks have sucientliquid funds. Still, there is another perspective,which views bank panics as a naturalconsequence of the business cycle, naming twotypes of factors as their causes: macro-economic

(recession and exchange relations) and micro-economic (weak supervision and regulation,and weak management).

Correlation between Total MarketingExpenditures and Prot

Due to the insuciently long sequence ofdata on the trends of the selected variables

(marketing-related expenditures and prot),the presence of positive correlation will beexamined on a hypothetical level. So, if weisolate the remaining factors3 inuencingprotability, by growth of condence, and,consequently, growth of deposits, then theincrease of lending activities, and, in turn, ofmarket share, it is possible to exert a positiveinuence on a banks total prot by applyingbank marketing. By allocating funds for

advertising purposes, a bank creates an imageof itself in the minds of the consumers, whereas

the increased presence in the media exerts theinvisible pressure on the clients, who thenreach the nal decision on the choice of a bank.However, this pressure itself exposes a bank tothe increased risk of losing the condence ofits clients.

The positive correlation between marketing

expenditures and prot exists only to the certain

level which may be limited by the market sharepercentage, principles of bank operation, andoverall business success. If a bank is nanciallystable and successful in its operations, thepositive correlation is sustainable in the longrun.

If, however, there are some indicatorspointing to the problems in operation andweak nancial results, the limit, i.e. theceiling appears, at which point the correlative

relation may change its direction. The involvedvariables become negatively correlated, the banksmarket share is in stagnation, which may ruinthe existing banks reputation, which, in turn,leads to a slight decrease in the banks marketshare. Such a situation may also have anadverse eect on the banks liabilities, i.e. theexisting deposits, whose rapid withdrawal may

cause a liquidity, even insolvency problem forthe bank.

If in the past the bank allocated huge fundsfor marketing purposes, without determining

3 Indicators of protability expressed as ROA, ROE, EM, AU; Indicators of liquidity, interest-bearing assets, nancialstructure, operative expenses, net interest margin


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Banka A. Uee marketing trokova uukupnim trokovima je na viem nivou, a ostali

pokazatelji kvaliteta banke na niem nivou odbanke B. Pozitivna korelaca menja smer ipostaje negativna, dalja ulaganja u marketing

proizvode negativne efekte, prot opada.

Banka B. Uee marketing trokova uukupnim trokovima je na niem nivou a ostalipokazatelji kvaliteta banke su na viem nivouod banke A. Pozitivna korelaca je odriva,dalja ulaganja ulaganja u marketing proizvodepozitivne efekte na prot, prot i dalje raste.

Jedan od najznaajnih ograniavajuih

faktora u procesu uvoenja marketing kulturejeste organizaciona struktura domaih banakakoja ne ukljuivala odeljenje marketinga. Ovoodelenje poslovalo je kao sporedno, a ne takodavno marketing aktivnostima bavila su seodeljenja kredita i depozita, dok je odluke opromoci banke, to se najee poistoveivalosa marketingom, donosio direktor banke,koji je ujedno grubo procenjivao budet zamarketing.

Promene zahtevaju, ne samo menjanjeorganizacione strukture, ve i promene ustrunom osposobljavanju kadra na svimnivoima. Formiranjem i stalnim strunimusavravanjem odeljenja za razvoj novihproizvoda mogue je izvriti uspenusegmentacu i pozicioniranje banke.

Dakle, bankarskim marketingom u celostimogue je uticati na uspenost banke, odnosnona protabilnost. Ovaj uticaj direktno i

indirektno odraava se kroz sledee pozice. Porast ukupnih plasmana, rast trinog uea Uticaj ukupnog obima plasmana na mogunost

sniavanja kamatnih stopa, stvaranje bolje

konkurentske pozice

Zadravanje postojeih i priliv novih depozita

kao odraz poverenja

Rast stabilnih depozita i direktan uticaj na

ukupnu likvidnost i kvalitet poslovanja

Razvoj novih bankarskih proizvoda i usluga,

stvaranje potencalnog trita

Uticaj na trine cene akca, kao merila kvalitetai poverenja u banku

Uspostavljanje marketing procesa ubankama s ciljem izbegavanja krizepoverenja

U bankarskom sektoru snano deluje petkljunih kategora faktora okruenja kojeimaju odluujuu ulogu i uticaj na poslovanje

banaka a to su: Kulturne i drutvene promene Privredne promene Pravni i zakonodavni okviri Tehnoloke promene Konkurenca

Promene unutar svakog pojedinanogfaktora koji na banke deluju iz okruenja ikombinaca promena, gotovo navode banke da

im se prilagode. Proces prilagoavanja banaka

promenama u okruenju, poslednjih decena,doveo je do znaajne upotrebe instrumenatai tehnika marketinga, pa samim tim i do jaemarketinke usmerenosti banaka svih struktura.

U teorskom smislu to je dovelo do razvanjabankarskog marketinga kao discipline. Procesrazvoja marketinga u bankarstvu je senzibilniu odnosu na ostale privredne grane, obzirom da

ga karakteristike i traeni kvalitet bankarskihusluga diferenciraju i oblikuju kao posebnu

losoju. Osnovne karakteristike ovog pocesasu: Neopipljivost Neodvojivost od izvora

Varabilnost kvaliteta

Nepostojanost usluge

Traeni kvalitet

Iskustveni kvalitet

Poverenje

Potroai, u najveem broju sluaja,

vrednuju uslugu na osnovu vidljivih aspekatai na osnovu interakce sa pruaocemusluga. Zbog toga je potrebno naglasitiizuzetno vanu ulogu zaposlenih u banci naprivlaenju klenata, izgradnji i odravanjudobrih odnosa sa klentima radi tradice.

Slika 2. Kretanje trokova marketinga iprota - odriva pozitivna korelaca


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a marketing strategy at the level of the entirebank, it is more exposed to the high operational

expenditures, and, consequently, to the risk ofinsucient growth and development, and therisk of inadequate bank marketing.

This problem results in the loss ofcondence due to the discontinuous applicationof marketing activities, which conveys anegative message about the potential crisis inthe concerned bank, and, in turn, may havesignicantly more complex adverse eects.

Within the new scenario, when the negativecorrelation is in eect, the other factorsinuencing protability are starting to behighlighted, whereas further marketing-related

expenditures do not yield any benets, but startto exert an adverse eect.

The charts below conrm this hypotheticalconclusion.

Bank A. The share of marketing-relatedexpenditures in total expenditures is at a higher

level, and other indicators of the banks qualityare at the lower level than those of the bank B.

The positive correlation changes direction andbecomes negative; further investments intomarketing products have adverse eects onthe prot, the prot decreases.

Bank B. The share of marketing-relatedexpenditures in total expenditures is at a lowerlevel, and other indicators of the banks qualityare at the higher level than those of the bank A.The positive correlation is sustainable; further

investments into marketing products havepositive eects on the prot, the prot furtherincreases.

One of the most signicant restrictivefactors in the process of marketing cultureimplementation is the organizational structureof domestic banks which in the past didnot include a marketing department. Thisdepartment used to be a secondary one.Not that far ago the lending and deposit

departments used to be in charge of marketingactivities, and the decisions about the bankspromotion, which was at that time identiedwith marketing, used to be brought by thebanks general manager, whose job was, also,to provide a rough estimation of the marketing

budget.The reforms require not only the changes

in the organizational structure, but also thechanges in expert training and education of

personnel at all levels. By establishing andconstantly educating the departments for thedevelopment of new products, it is possibleto conduct a successful segmentation andpositioning of a bank.

Therefore, bank marketing as a whole mayinuence the business success of a bank, i.e.its protability. This inuence is directly andindirectly reected in the following positions: Growth in total lending activities, growth of

market share; Inuence of the total volume of lendingactivities on the possibility of loweringinterest rates, achieving beer competitiveposition;

Keeping the existing and receiving newdeposits due to the increased condence ofthe clients;

Growth of stable deposits and its directimpact on total liquidity and business

quality; Development of new banking productsand services for the creation of a potentialmarket;

Impact on the shares market price, as a

measure of quality and condence in a bank.

Figure 1. Marketing expenditures and prottrends - the correlation changes directionand becomes negative

Figure 2. Marketing expenditures and prottrends - The sustainable positive correlation.


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Ovo shvatanje rezultiralo je novim teorskimkonceptom poznatim pod nazivom Internimarketing4. Interni marketing stavlja akcenatna ulogu zaposlenih i shvatanje da se bankamora usresrediti na tzv. interno trite, jer

jedino zaposleni koji to ine omoguavajuuspeno usmeravanje ostalih programa premapotroau.

Ovo je ujedno razlog zbog koga se ubankama posebna panja mora posvetitirazvoju i upravljanju ljudskim potencalom,tj. pravilnom izboru obrazovnog prola,komunikaci ali i linim karakternimosobinama zaposlenih.

Dok marketing procesi implementiraju

sve elemente banke i ine sr svih poslovnihaktivnosti istraivanja u domenu razvoja,analize i stratege, pozicioniranja na tritu,marketinke aktivnosti usmerene su naoglaavanje, prodaju, istraivanje trita,planiranje novih usluga. Ove aktivnostiobavljaju se unutar marketing odeljenja banaka

(reklama, promoca, oglaavanje).Bankama je daleko znaajne uspostavljanje

marketing procesa nego sporovoenje pojedinih

marketing aktivnosti, to je jedan od problema kojinajee sreemo kod domaih banaka.

Ekonomska kriza - ansa zasegmentacu trita. Novamogunost - pozicioniranje naosnovu etike

Segmentaca trita je relativno novikoncept u lozoji bankarskog marketinga i

bankarskog poslovanja. Nastao je kao posledicashvatanja da klenti kupuju iste proizvodeili usluge iz razliitih razloga. Postoji nizkriteruma po kojima je mogue izvritisegmentiranje trita, ali imajui u vidu stanjeu domaim bankama, predstavljene su dvestratege:

1. Segmentaca na osnovu volumenakorienja usluga- s aspekta obima, koliinepotronje proizvoda i usluga, bankarski

marketing strunjaci dele klente u tri grupe:

Jaki potroaiSrednje jaki potroaiSlabi potroaiOvaj princip segmentace trita primenjljiv

je u mnogim segmentima poslovanja banaka

(Paretovo pravilo5

). Tipian primer ovakvogpristupa segmentaci trita su poslovi tednjei prikupljanja depozita, obzirom da praksapotvruje da po pravilu preko 25% tednihuloga u banci ine oko 80% ukupnog depozitazikih lica.

2. Stratega pozicioniranja banaka je,prema potvrenoj praksi u bankama, izuzetnomono sredstvo stratekog upravljanja

bankom. Colin L. Jones6dajui poseban znaaj

pozicioniranju, navodi pet zapovesti bankarskogmarketinga. Pozicioniranje predstavlja strategu

banke kojom ona nastoji da u percepci klenata

diferencira svoju institucu od konkurence.Obogaivanje proizvodnog asortimana novimuslugama i proizvodima predstavlja jednu odtaktika uspenog pozicioniranja, ujedno i jednu

od najzastupljenih. Pozicioniranje je mogueostvariti na nivou same banke ili na nivoupojedinih proizvoda i usluga.

Pozicioniranje u odnosu na konkurencu- U podruju bankarskih usluga moe senavesti primer United Jersey Bank, kojaje u pokuaju da se pozicionira u veomakonkurentnom okruenju (okruena saCitibank i Chase Manhaan Bank), otkrila da

su velike banke jako spore pri odobravanjukredita. Imajui to u vidu, ona se fokusiralana brzinu odobravanja kredita i time postala

prepoznatljiva kao brza banka (fast

moving bank). Odgovarajuim sistemomporuka banka se moe pozicionirati u svestiklenata kao moderna i tehnoloki napredna

banka, kao banka savetnik, koja je uvek tukada je klentima potrebna njena pomo.

Pozicioniranje u odnosu na ostale proizvode istekategore- Ovom strategom banka tei dana nivou proizvoda i usluga stvori takvoshvatanje u svesti potroaa, prema komenjena usluga predstavlja jedinstveni paket

usluga za klenta i ima unikatnu vrednost.

4 Karakter ili dua banke ogleda se kroz njene zaposlene, posebno one koji su u neposrednom dodiru sa klentima5 Manji broj klenata najveim delom doprinosi odravanju poslovanja. Pravilo 80 / 206 Colin L. Jones - Poznavati samog sebe, poznavati klenta, poznavati konkurencu, poznavati trite, shvatiti znaaj pojma

biti drugai


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Establishing a Marketing Process inBanks with a View to Avoiding theCondence Crisis

There are ve key categories of environment

factors in the banking sector that play thecrucial role and have the major inuence tobank operations, and those are the following: Cultural and social changes; Economic changes;

Legal and regulatory frameworks;

Technological changes;

Competition.

The changes within each of the factorsinuencing the banks from outside, along

with the combination of these changes, forcethe banks to adjust to them. The process ofbanks adjustment to the changes in theirenvironment led to the considerable use ofmarketing instruments and techniques in thelast decades, and, consequently, to the banksof all types being more marketing-oriented. Intheory, this resulted in the development of bank

marketing as a discipline. The bank marketingdevelopment process is more sensible in

comparison to other economic sectors, giventhat its characteristics and the desired qualityof bank services dierentiate it and shape it asa separate philosophy. The basic characteristicsof this process are the following: Intangibility Inseparability from the source Fluctuations in quality Uncertainty of service Desired quality

Experienced quality CondenceThe majority of consumers value the

service on the basis of the visible aspectsand on the basis of their interaction with theservice provider. It is, therefore, necessaryto underline the extremely important roleof the bank employees for aracting clients,establishing and maintaining good relationswith the clients in order to keep the tradition.

This belief resulted in the new theoreticalconcept, known as Internal Marketing4.

Internal marketing highlights the role of thebank employees and the realization that thebank needs to focus on the so-called internalmarket, since only those employees that do so,enable successful adjustment of other programs

to the consumers.This is at the same time the reason whythe banks must devote the necessary aentionto the human resources development andmanagement, i.e. the proper choice ofeducational prole, communication skills, butalso the personal traits of the employees.

While, on the one hand, marketing processes

implement all bank elements and are the coreof all business research activities in the eld of

development, analysis and strategy, and marketpositioning, marketing activities, on the otherhand, focus on advertising, sales, marketresearch, and planning of new services. Theseactivities are conducted within the marketingdepartment in a bank (advertisements,promotion, and advertising).

The banks consider establishing of marketing

processes to be far more important than conducting

marketing activities, which is one of the problems

that are most frequently found in domestic banks.

Economic Crisis - A Chancefor Market Segmentation. NewPossibility - Ethics-Based Positioning

Market segmentation is a relatively newconcept in the philosophy of bank marketingand bank operations overall. It was created asa result of the idea that clients buy the same

products or services for dierent reasons. Thereis a range of criteria according to which marketsegmentation may be conducted, but, bearingin mind the situation in the domestic banks, the

following two categories are presented:1. The segmentation based on the

volume of services- in terms of volume, i.e.the amount of used products and services,the experts divide bank marketing into threegroups: heavy consumers, medium-heavy

consumers, and light consumers.This market segmentation principle

4 The character or the soul of a bank is reected through its employees, particularly those in direct contact with theclients.


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Pozicioniranje na osnovu razliite cene -Banka se moe pozicionirati tako da budeatraktivna manjoj grupi klenata kojaimaju natprosena primanja. U skladu savisinom primanja, kao obelejem te grupe,

vri se usklaivanje palete usluga i, naravno,cene usluga. U ovoj strategi akcenat je naluksuzu, banka ulae mnogo sredstavau imid, to ve u startu opredeljuje daplateno sposobni klenti biraju bankuluksuzneg izgleda.

Pozicioniranje u odnosu na poslovnu etiku- Stalna potreba za rastom protne stope,kao i borba za trite u uslovima pojaanekonkurence, dovela je do zanemarivanja

znaaja poslovne etike. U uslovima krize,kada se banke bore za opstanak, trebaimati u vidu injenicu da i klenti vodeistu tu borbu. S toga je zbog reputacebanke neophodno da se zaposleni ubanci ponaaju korektno prema klentu,prvenstveno u domenu potovanjaugovora, blagovremenog obavetavanjaklenata o promenama, pravovremenogusklaivanja kamatnih stopa na nie i sl.

Prot, kao cilj banke, esto dovodi u situaceda se gotovo celokupan rizik prevaljujena klente. Ukoliko banka ispotuje svedogovorene uslove i preuzme svoj deosistemskog rizika, ona pojaava svoj ugled.Pribliavanje klentu ini da se poverenjene samo ouva, ve i dodatno izgradi. Zaouvanje dugorone saradnje i opstanka

banke, bitno je istai da je ponekad znatnokorisne odrei se odreenog prota kako

bi se zadrao klent u kriznim situacama itime izbegao daleko vei izdatak ponovnogosvajanja trita. U uslovima krize poslovna

etika esto je merilo kojim klenti ocenjujubanke i prilika da se banke u svesti klentakao takve pozicioniraju, to ih ujednopozicionira i u odnosu na konkurencu.

Neophodnost uspostavljanja noveherarhe ciljeva bankarskog

marketinga - opomena iz Amerike

Odvajanje funkce vlasnitva od funkceupravljanja dovelo je do niza promena ubankama. Vlasnici kapitala oekuju iskljuivoprot, to suava mogunosti menadmenta

u procesu upravljanja i realne procene rizikai sigurnosti plasmana. Napori da se ostvarivei prot i ouva vrednost akca najeerezultiraju prihvatanjem veih rizika uposlovanju, to takoe uslovljava menadment

u donoenju odluka.Svako odstupanje u ponaanju menadmentaod oekivanja koja su indirektno nametnuta odvlasnika predstavlja pretnju da menadmentmoe biti smenjen. Davanje apsolutne prednosti

maksimiziranju prota u odnosu na izloenosti mogunost upravljanja rizicima, rezultira irizikom marketing aktivnosti u bankarstvu, kao

sastavnom delu procesa upravljanja bankom.Upravo u ovoj injenici kre se odgovor na

pitanje zato je bankarski marketing kaoaktivnost jedan od rizika, a time i jedan odrazloga za sunovrat Amerikih banaka.

Prikaz procesa rasta i kraha banke,

pojednostavljene pretpostavke:

Akcionari ele vei rast aktiva, zajmova,prota i rast banke a oekivanja esto nisuu skladu sa realnim privrednim rastom.

Neki krediti mogu vremenom postatirizini zbog promene kreditne sposobnosti

dunika ili drugog razloga (promenamakroekonomskih ili meunarodnihuslova).

Banka ima visoku koncentracu zajmovana grupu dunika, a grupa ne adekvatnodiversikovana.

Krediti nisu pokriveni kolateralom. Racio kredit/vrednost je 100% - banka

pozajmljuje 100% vrednosti aktive.Neusklaenost izmeu realnog rasta

privrede i oekivanog rasta stope protabanaka kao i snana deregulaca u bankarskom

sektoru izloila je menadment banaka rizikuasimetrinih informaca, a time i rizikubankarskih marketing aktivnosti. Primeramerikih banaka neophodno je analizirati jer

je sluaj veoma koristan u iskustvenom smislui za banke u drugim dravama, ukljuujui i

banke u Srbi.Na kraju, moemo zakljuiti da bi banke u

Srbi svakako trebalo da na bazi ovih iskustava,paljivo deniu pre svega pristup novojherarhi ciljeva i, saglasno tome, deniusvoju marketing strategu, tako da ona bude ufunkci ostvarivanja ovih ciljeva.


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is applicable to many segments of bankoperations (Pareto rule5). The typical exampleof this approach to market segmentation issavings and collection of deposits, given thatthe practice conrms that, as a rule, over 25%

of the savings in a bank amount to about 80%of total citizens deposits.2. The strategy of bank positioning

- according to the practice conrmed inbanks, this is an extremely powerful meansof strategic management of a bank. Colin L.

Jones6gives special importance to positioning,naming the ve commandments of bank marketing.

Positioningis a bank strategy whose purposeis to dierentiate the concerned bank from

its competition in the mind of its clients.Enriching the product range by adding newproducts and services is one of the successfulpositioning tactics, and, at the same time, oneof the most widely used. It is possible to achieve

positioning at the level of the bank itself, or atthe level of certain products and services. Positioning in relation to the competition - In

the eld of bank services, a good example isUnited Jersey Bank, which, trying to position

itself in a very competitive environment(surrounded by Citibank and ChaseManhaan Bank), discovered that large

banks are terribly slow in the process of loan

extension. Bearing this in mind, this bankfocused on the speed of loan extension, thus

becoming famous as the fast moving bank.

By conveying a certain types of messages,a bank may position itself in the mind ofits clients as a modern and technologically

advanced bank, as a bank-advisor, which isalways there for its clients when they needits assistance.

Positioning in relation to other products of thesame category- By applying this strategy, atthe level of products and services, a bankstrives to create such an image in the mindsof its clients, according to which its servicesare a unique service package, bearingunique value for its clients.

Positioning based on dierent prices- A bankmay also position itself in a way which

makes it more aractive to a smaller groupof clients having the above-average income.The range of services, and, naturally, theirprices, is adjusted according to the levelof the clients income, which dierentiates

this group. This strategy puts emphasison luxury; the bank invests large funds inits image, which, from the very beginning,determines that the more solvent clientschoose a more luxurious bank.

Positioning in relation to business ethics- The constant aspiration for the growthin protability rate, along with the balefor a market share in the times of toughercompetition, led to the importance of

business ethics being neglected. In timesof the nancial crisis, when banks areghting for existence, one should bear inmind the fact that the clients, too, ght thesame bale. Therefore, in order to preservea banks reputation, it is necessary for thebank employees to behave properly to theclient, in particular, in terms of honouringagreements, duly notifying the clients about

any possible changes, timely lowering

the interest rates, etc. Prot, as a banksultimate goal, oen results in almost theentire risk being transferred to the client.If a bank honours all the agreed terms andundertakes its portion of the systemic risk, it

strengthens its reputation. Geing to knowtheir client beer helps the banks not only to

preserve, but also to build up the condence

of the clients. When it comes to preservinga long-term cooperation and, ultimately,

the existence of a bank, it is important tounderline that sometimes it is much moreuseful to renounce a certain amount ofprot in order to keep a client in times ofa crisis, thus avoiding a much bigger costof having to re-conquer the market. Intimes of a crisis, business ethics is oen acriterion for a clients assessment of a bank,and an opportunity for the banks to position

themselves in the mind of the clients, which,

at the same time, positions them in relationto their competition.

5 The minority of clients contributes to the majority of operations. Rule 80/20.6 Colin L. Jones - Know Thyself, Know Thy Client, Know Thy Competition, Know Thy Market, Know What it Means to Be

Dierent


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Literatura / References

1. Balmer J., and Stotvig, S. Corporate identity

and private banking. International journal

of bank marketing. (No. 15) 1997.2. Bernanke S. Ben, Management and Banking

Supervision, Washington, D.C. School ofBanking, 2006.

3. Milutin, irovi, Bankarstvo, ECPDBeograd, 2006 godina

4. Uro uri, Miljana BajraktaroviBankarski marketing, praktikum, Feljtond.o.o, Novi Sad, 2003 godina

5. Duan Bokovi, Duko Vasiljevi, Analiza

indikatora za praenje kvaliteta poslovanjabanaka u funkci rada nansskog trita,Savez ekonomista Srbe i Crne Gore,Beograd, 1998 godina,

6. ore uki, Vojin Bjelica, ivota Risti,Savremeno bankarstvo, Ekonomskifakultet, Beograd 2003 godina,

7. Lewis, S. Measuring corporate reputationcorporate communications, AnInternational journal, No. 6, 2001.

8. Filip, Kotler, Psihologa u menadmentu,Novi Sad: Asee books, 2003 godina.

9. Naresh K. Malhotra and David F. Birks,Marketing research an applied approach,Edinburgh: Prentice Hall Financial Times,2006

10. Narodna banka Srbe, Izvetaj okontroli nansskom poloaju i strukturi

bankarskog sektora, Odeljenje za kontroluNBS, Razliita izdanja kvartalnih izvetaja,

Beograd, 2006 godina11. Narodna banka Srbe, Istraivanje TNSMedium Gallup-a o uslovima pod kojima se

na tritu nude nansske usluge Odeljenje

za zatitu korisnika, Beograd, 6. februar,2009 godine.

12. Rose S., Peter, Hudgins, and Sylvia C.Bankarski menadment i nansske

usluge, Data status, Beograd, 2005godina,13. Mara, Tomaevi Lianin, Bankarskimarketing, Informator, Zagreb, 1997godina.

14. Kris, Vest, Istraivanje trita, Clio,Beograd 2004.

15. Yavas N., and Shmwell D. J. Bank Image,International journal of bank marketing, No.

14, 1996.16. World Trade News: Taking the paper

out of trade - The quest for more ecientcommerce, Financial Times, 13, oktobar,1999.

17. Worchester R. Managing the image ofyour bank, International journal of bankmarketing. (No. 15) 1997.

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Internet

www.emeraldinsight.com (InternationalJournal of Bank Marketing)www.scindeks.nb.rswww.aba.com/bankmarketingwww.bankinovation.netwww.pr-education.net (London school ofPublic Relations)

www.bankmarketingnews.orgwww.nbs.rswww.libraryjournal.comwww.hrcak.srce.hr


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Necessity of Establishing a NewHierarchy of Bank MarketingObjectives - Warning from the USA

Separating the ownership function from

the management function led to a variety ofchanges in banks. The equity holders expectnothing but prot, which reduces the numberof possibilities at the managements disposalin the process of managing and assessing thereal risk and security of lending activities. Theeorts invested in achieving higher prot andpreserving the value of shares usually resultin undertaking higher business risks, which,in turn, also conditions the managements

decision-making process.Each deviation of the management fromthe expectations indirectly imposed by theowners poses a threat for the management tobe replaced. Giving the absolute advantageto the maximization of prot in relation tothe risk exposure and the possibility of riskmanagement, results in the risk of marketingactivities in banking, as an integral part ofthe bank management process. This very fact

answers the question why bank marketing asan activity represents one of the risks, and,consequently, one of the reasons for the failureof the US banks.

The review of the process of growth and failure

of a bank - simplied assumptions:

The shareholders want a higher growth

of assets, loans, prots and the banksdevelopment, and their expectations areoen not in line with the growth of the realeconomy;

Some loans may, in time, become risky, due to

the changes in the debtors creditworthiness,or any other reason (changes in the macro-economic or international conditions);

A bank has a high concentration of loansfor a group of debtors, but the group is notadequately diversied;

Loans are not collateralized; Loan/value ratio is 100% - the bank lends

100% of its assets value.The incongruity between the growth of

the real economy and the expected growthof the banks protability rate, along with theextensive deregulation in the banking sectorexposed the banks management to the risk ofasymmetric information, and, consequently,to the risk of bank marketing activities. It isnecessary to analyze the example of the USbanks, since it is extremely useful in terms ofexperience for the banks in other countries, too,

including the banks in Serbia.

Finally, we can conclude that the banksin Serbia should, by all means, based on thementioned experiences, carefully dene theapproach to the new hierarchy of objectives,and, accordingly, their marketing strategy, sothat it functions as a means of achieving theconcerned objectives.

B. Marketing Vo Kriza

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