Utilizing event marketing techniques in banking activities

Abstract

clientele. Banking marketing, with its unique attributes, stands as a distinctive domain within the broader spectrum of marketing. In an era where banks primarily offer uniform services, competition among them has intensified substantially, necessitating a shift towards maximum customer-centricity and the application of marketing concepts. This research aims to investigate the theoretical and methodological underpinnings and formulate practical recommendations for enhancing the marketing support of banks, facilitating effective functioning, and establishing a diagnostic framework for assessing the utilization of marketing tools. The core tasks include a comprehensive examination and synthesis of the theoretical foundations of event marketing as a banking marketing instrument in the context of globalization and an analysis of the marketing activities of PJSC "PrivatBank" with subsequent recommendations for refining the management of its event marketing endeavors.

In the current landscape, banks face multifarious challenges, including the repercussions of financial crises eroding client trust. The imperative lies in resuscitating the image of Ukrainian banks and enhancing marketing strategies that encompass a significant portion of the domestic banking sector's activities. These imperatives are increasingly pertinent due to factors such as limitations on price competition, internationalization of economic processes, adoption of foreign banks' products in Ukraine, and the proliferation of information technologies, expanding the purview of banking institutions' operations. To address emerging challenges, banks intensify their marketing efforts, focusing on refining products and services, developing new products, expanding customer relationship programs, monitoring competitors' activities, and fostering a marketing culture.

Banking marketing risks are systemic functional threats linked to a bank's positioning in the market environment, and the efficacy of banking systems' functioning hinges on the ability to proactively respond to potential threats. The collection, processing, and analysis of information regarding prior experiences in marketing support of banking activities, as well as monitoring and forecasting threats and indicators affecting banking security, fall within the methods employed to safeguard operations.

In summary, the utilization of event marketing techniques in banking activities assumes paramount significance in contemporary times, addressing heightened competition and customer trust as pivotal concerns. This endeavor offers the opportunity to refine marketing strategies, capture customer attention, and enhance the efficiency of banking operations.