Naslov
E-marketing and E-banking : Opportunities and Barriers in Economies in Transition (Regional Case Study)

Autori
Basheska-Gjorgjieska, Marika ; Slijepčević, Sunčana ; Živko, Igor.

Vrsta, podvrsta i kategorija rada
Radovi u zbornicima skupova, cjeloviti rad (in extenso), znanstveni

Izvornik
International Conference of the School of Economies and Business in Sarajevo "From Transition to Sustainable Development : The Path to European Integration" : proceedings / Čičić, Muris - Sarajevo : Ekonomski fakultet Univerziteta u Sarajevu, 2006, 1-17

ISBN
9958-605-90-2

Skup
International Conference of the School of Economies and Business in Sarajevo "From Transition to Sustainable Development (ICES 2006) : The Path to European Integration"

Mjesto i datum
Sarajevo, Bosna i Hercegovina, 12.10.2006. - 13.10.2006

Vrsta sudjelovanja
Predavanje

Vrsta recenzije
Međunarodna recenzija

Ključne riječi
banking sector; e-banking; service distribution channels; e-marketing; transition

Sažetak
The development of marketing functions and especially the process of recognition of the possibilities to use the Internet for marketing purposes in the banks of Bosnia and Herzegovina, Croatia and Macedonia started relatively late. Until the 1990s, all financial products were in the first place developed for enterprises needs and other specific sectors of state interest. Moreover, financial products for the retail sectors were developed only with the aim of collecting savings. Changes toward market oriented banking system, resulted in the need for banks to compete more effectively, in order to deal with changes in financial environment (globalisation, liberalisation, deregulation and the use of the new information technology). All of these forced banks to reconsider their strategies. Therefore, banks have started to introduce technological innovations. Electronic banking (e-banking) is a new distribution channel of bank financial products to clients. In this paper we analyse only use of one e-banking channel – Internet. Due to the implementation of Internet, banks are able to offer more sophisticated services. The usage of Internet in transition countries is increasing, and our findings, based on the concrete research conducted indicate the level and purpose of implementation of e-banking. Despite of the increasing significance of e-banking, cashless instruments still haven't replaced traditional banking in three countries analysed. Therefore, its advantages are also still not achieved. Number of economic empirical literature shows the importance of using IT in order to improve bank performance and success. In this paper we analyse the type of banks services offered through Internet. Moreover, we discuss the possibility of Internet usage as an instrument for marketing purposes. In order to investigate this, we are using the model developed by Diniz (1998). Diniz model use tools which helps in setting the parameters to understand Internet banking and functionality of Web sites for marketing purposes. The functionality measurement of Internet sites can be analysed by dividing them to the three different opportunities that the technology could bring to the banks, and consequently to the clients: basic communication with the client, as a channel for conducting transactions or a tool to improve bank-client relationship. First type of activity (basic communication with the clients) presents one-way communication with the clients. Second type of activity (conduction transaction) provides information on using Internet as a distribution channel of financial products and services. Third type of activity (bank-client relationship) presents using Internet as an instrument for managing relationship with bank clients. The usage of marketing philosophy in practice needs a lot of efforts, as well as undertaking many activities in the banks in order to be successful. Internet is another marketing channel in order to deliver bank’s services, as well as another advertising medium in order to promote the bank’s services. In this regard, new ways of implementation of the marketing concept, so called electronic marketing (e-marketing) are being developed. Ultimately, Internet possesses the great potential to significantly increase benefits for both bank and the clients, while minimising the costs. The benefits offered by e-marketing include mass customization or digital delivery of products. It also raises cost efficiency through lower prices of banking products, decreasing in number of banks personnel and branches, but only in the long term. Lower costs can result from direct selling, segmented pricing and/or expanded delivery services via the Web. In the same time, bank clients benefit from the better availability of financial products. The results of the analysis of banks Internet sites show that the bank-client relationship is weak in all three countries. Banks in the three analysed countries mostly use Internet to spread basic information about the banks, while most of the banks still don't use the advantages of Internet to reach new clients and as a marketing channel. Banks in their marketing plans have to work on promotion of the use of a new technological innovation in banks business. In terms of marketing purposes, banks are using Internet banking only at the basic level, which means that mostly banks are using only e-mail for communication with the clients. Additionally, Internet is not a common marketing channel in banks. Therefore, the banks effectiveness can be improved by more intense usage of Internet as a distribution channel and promotional tool for their new products as well. Finally it can be helpful in the process of exploring clients needs regarding financial products.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

POVEZANOST RADA