CROSS-SELLING AND UP-SELLING IN A BANK

Julia Kwiatkowska ()
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Julia Kwiatkowska: Nicolaus Copernicus University in Torun

Copernican Journal of Finance & Accounting, 2018, vol. 7, issue 4, 59-70

Abstract: Increasing competition on the banking market, as well as the desire to achieve maximum profits, means that banks are increasingly looking for methods that will allow them to increase sales. One of them turned out to be sales techniques such as cross selling and up selling, which undoubtedly increase the bank’s profit. In addition, cross-selling contributes to building a larger product portfolio of the client, which binds it more strongly to the bank and minimizes the risk of the customer moving to a competitive entity. However, the use of these sales techniques also entails risks. One of them is the loss of a good image. The aim of the article is to present the results of an own study on the use of cross-selling and up-selling by banks and influence on their image. Additionally, the article presents the essence and way of functioning of cross-selling and up-selling, which are used by financial institutions in the pursuit of profit maximization. The results of the study confirmed that the results of the application of these sales techniques turns out to have a negative impact on the customer’s perception of the bank. Both cross-selling and up-selling contribute to the dissatisfaction of customers, which often leads to the loss of their part in favor of a competitive bank. In addition, the negative perception of the bank undermines its image, which is an important element in such a strong competition.

Keywords: cross selling; up selling; unethical sale (search for similar items in EconPapers)
Date: 2018
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