Features of implementation of market segmentation policy in bank marketing Tog’ayev Salim Sobirovich PhD, Acting associate professor, Department of

Option 1. Directing the use of aggressive competition in capturing new market segments.
Principles of implementation: this option involves the use of more effective methods of eliminating "barriers to entry" (including those that do not comply with the principles of banking ethics).
Example: the study of a segment of the market that is new for the bank is carried out using bank intelligence methods. Various methods are used to attract the most qualified employees and financially powerful customers of competing banks in the establishment of new regional branches. In the preparation of advertising companies, methods that indirectly harm competitors are used. And low prices are set for services provided to customers or additional services are provided free of charge.


Advantages:
- if the policy is successfully implemented - new segments of the market will be occupied quickly;
- the level of the bank's organizational and management culture, which is a prerequisite for the implementation of this option, will increase.
Disadvantages:
- the high level of costs incurred for the preparation and implementation of the above-mentioned methods;
- the emergence of a strong struggle with competitors in a new segment of the market;
- increase in the probability of occurrence of relevant risks.
Suggestions for implementation: this option is appropriate for large and highly profitable banks seeking to capture highly promising segments.
Option 2. Focusing on the use of offensive competition in capturing new market segments.
Principles of implementation: this option provides for the use of methods that do not cause negative behavior of competitors. For this, it is possible to use fundamentally new organizational forms of service to existing customers (organizational-management structures for a group of customers, organization of ATMs for individual customers) or to offer services that are not available to competitors. In some cases, a new segment of the market can be realized by forming new customers.
Example: a new customer group can be students of a higher education institution. The bank offers them a package of interconnected services (educational loan, bank cards, consulting).