Consumers perceive the following criteria as important in their selection and patronage of commercial banking facilities. Services relating to chequing accounts are of greater importance than those relating to savings accounts. Speed of service, locational convenience, competence and friendliness of bank personnel are also important. Significant differences in attitudes and opinions between the sexes, language, age, income and educational level groups are revealed. These results come from a study carried out in Montreal, which was chosen for its highly competitive banking environment. By tailoring their marketing strategies to stress the satisfaction of the above features, bank marketers may be better able to influence the target market segments dealt with.

The marketing concept : will it work in banking?

Services Used and Factors Considered Important in Selecting a Bank: An Investigation across Diverse Demographic Segments

The purpose of this empirical study was to explore the extent to which the marketing concept had been accepted and implemented by the Islamic banks in Jordan To achieve this, a survey of the Islamic banks' managers and customers was carried out The survey questioned the managers, at both senior and branch levels, concerning their opinions about the understanding, acceptance and implementation of the marketing concept Customers' opinions were also explored with particular regard to the factors considered to be important in choosing to bank with Islamic banks; services used; personal characteristics; the importance of promotional media; and the banks' role in informing customers about the Islamic banking concept

The findings of the study were that Islamic banks in Jordan have a narrow understanding of the marketing concept These banks were found to be value - rather than profit-orientated They accepted many of the facets of the marketing concept such as customer orientation, profit orientation and social orientation, while they downgraded the status of marketing activities It was found that while some customers were gained from the nonbanking segment of the market, the banks won approximately two thirds of their customers from conventional banks

However, some customers were not impressed by the Islamic banks to the extent that they continued their patronage of other banks

This study is important in the light of the increasing growth of Islamic banks It provides empirical data about the marketing orientation of the Islamic banks in Jordan which cannot be found elsewhere It contributes to a better understanding of the ways in which the banks could increase their effectiveness by providing guidelines and the implications for marketing strategies

The research methodology and instruments used will help researchers to conduct studies in the field of financial services marketing in the Arab-Muslem countries

The marketing concept : will it work in banking?

Citations

Services Used and Factors Considered Important in Selecting a Bank: An Investigation across Diverse Demographic Segments

The marketing of the Islamic banks' services in Jordan

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