engleski

Retail Bank Selection Criteria in Republic of Croatia

Paper is based on the study of consumer banking habits in Croatia, compered with the findings in other countries to determine whether bankers need to adopt different marketing strategies in the relatively new free-market economy. First part of the paper presents, in short, an overview of the recent development and current state of the Croatian banking system since deregulation and resulting intensively competitive environment for existing and new banks. Second, paper reports results of the empirical research undertaken to discover reasons why Croatian retail bank consumers have chosen specific banks to entrust them with their savings and other banking business. Findings suggest that in Croatia, similar to other transitional countries, the most importanat variables influencing customer choice of banking institution are reputation, price and service, but with certain variations related to the Croatian context. Authors conclude their work with a discussion of implications for marketing strategy formulation and its implementation in years to come.

banks; consumer behavior; marketing strategy; Croatia

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