Brand Loyalty, the Main Challenge for the Banks. The Impact on Brand Loyalty of Consumers

Valeria Arina Mircea ()
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Valeria Arina Mircea: Faculty of Economics, Ecological University of Bucharest
Authors registered in the RePEc Author Service: Valeria Arina Balaceanu ()

No 6, Economics of Sustainable Development.The Economic Impact of Climate Change. - Working papers from Ecological University of Bucharest, Department of Economics

Abstract: In studies undertaken until now, I tried to point out that the banks should focus are increasingly requesting to client portfolio and not the product portfolio. The new rules of marketing and public relations focuses and accentuates maintaining relationships with customers, their loyalty and not least on attracting new consumers. Consumers are the ones that help companies identify, create, promote, distribute and sell products and services offer. Perhaps more than in other areas in the banking field, new technologies and make way flow of information globalization to manifest more clearly. Interdependence of financial markets and banking is more noticeable than in other areas. The trust to an institution, product or service, the consumer emotional response after purchasing a product or service, consumer confidence are rewarding emotional criteria based on which brands are built. The brand is not limited to having a name and a logo, but involves many more aspects that institutions must take into account, namely: business identity; ability to convey individuals (to the world) who you are; what are the goals and what strategies you use to achieve them; relevance and credibility in front of whom you address customer segments.

Keywords: banks; marketing; consumer; loyalty; brand (search for similar items in EconPapers)
JEL-codes: G21 M31 (search for similar items in EconPapers)
Pages: 7 pages
Date: 2015-11
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Published in Economics of Sustainable Development - Economics of Sustainable Development.The Economic Impact of Climate Change., ISBN: 978-606-652-100-0, June 2016, pages 50-56

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