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Marketing Environment for Banks
Marketing is one of the most important functions in any organization. The sales generated and sustained have been acknowledged as a direct function of the marketing process. According to Philip Kotler, "marketing is typically seen as the task of creating, promoting and delivering goods and services to the consumers and businesses".
According to American Marketing Association "Marketing can be defined as the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives"
The "Marketing Concept" is a philosophy or a frame of mind. According to the marketing concept, customer orientation, social responsibility, total company effort and profit are the four pillars of a successful business. The marketing concept is not a 'once in a lifetime' formulation for a firm. It needs to be revitalized.
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