Research on the Practical Aspects of the Providing Efficiency of Marketing Communications’ Bank

Abstract

The marketing communications play an important role in the activities of banks, because it is one of the most important elements of the marketing activity. As an element of a banking institution's marketing activity, they must be carefully planned, organized and controlled. The need to plan marketing communications in the bank stems from the fact that today it is difficult for consumers to navigate the banking services market. The ongoing competition for each consumer in the banking market drives banks to integrate marketing communications. Banks are in constant contact with customers of banking services, financial institutions, central banks, etc. Any bank requires interconnected communications that are constantly evolving to meet the changing external and internal environment. Thus, marketing communications play an important stage in the bank's marketing activity. In an age of digital economy, marketing communications are a prerequisite for improving the increasing the effectiveness of banks and their profitability. The practical aspects of ensuring the effectiveness of a bank's marketing communications are considered and explored in the article. The structure of the bank's marketing communications complex is influenced by the following factors: the level of management of the bank, the degree of purchasing power of the potential client, the strategy of promotion of banking services, the peculiarities of the complex of marketing communications of competitors and the financial capacity of the bank. In particular, digitalization (digitization) of the bank involves the modernization of the banking structure, products and channels of interaction with its customers by applying modern technologies to increase the effectiveness of marketing communications, increase profits and its competitiveness.

Potential of Marketing Communication as a Sustainability Tool in the Context of Castle Museums

“…The evaluation of the effectiveness of marketing communication is done based on the comparison of results achieved within the objectives, set in the marketing plan [53]. These objectives, however, might be identified not just as direct economic objectives [54][55][56][57] but also as communication objectives [49,58]). Consequently, the effectiveness of marketing communication might be monitored from at least two perspectives: the economic impact as well as the communication one [59].…”

“…Economic effectiveness is associated with the provision and monitoring of only economic indicators [54,55], which, in a museum environment may be considered the change in the sold volume of entrance tickets for exhibitions or the amount of profit on turnover from the rent of historic premises as such indicators. The sales impact of marketing communication with evaluation measurement are treated as more complex issues than only the measurement of communication effects [60].…”

“…The reason why this aspect is more problematic is connected with the challenge of saying to what extent some progress in museum attendance is influenced by effective marketing communication. Marketing communication comprises only one element of the marketing mix, but a great number of various factors, for example, the product itself [55], the museum and its value [54], and competition in the leisure-time market [61], might influence the sold volume of entrance tickets for exhibitions.…”

Optimization of e-commerce distribution center location

“…Another aspect of this fact is to design appropriate transport networks based on agile principles. Furthermore, quantitative evidence supporting the view (Tofighi et al, 2016;Abdel-Basset et al, 2020;Girchenko & Panchenko, 2020) of logistics network design problem involving central housing and local distribution centers based on a flexible approach is presented. Based on previous studies (Modgil et al, 2020;Yang et al, 2020;Shiripour and Mahdavi-Amiri, 2020), the paper develops a model applicable to emergency planning that connects multiple sources, including time and considering region-specific characteristics.…”

“…Digital technologies, such as mobile phones, the fifth generation of mobile networks, big data connected with multi-cloud strategies, virtual reality, and omnichannel marketing could offer retailers new insights into their business (Petru et al, 2020). Fu et al (2020) came up with the e-commerce explanation. Based on his definition, e-commerce combines the traditional business model and network technology and information technology in the information era, facing crucial opportunities and challenges.…”