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

Features of implementation of market segmentation policy in bank marketing


Tog’ayev Salim Sobirovich
PhD, Acting associate professor, Department of
“Accounting, taxation and finance” of the SB TSUE
Email: [e-mail], ORCID ID: 0000-0002-3170-9181
Abstract: The article presents options for using the banking services market segmentation policy, their advantages and disadvantages, as well as the opinions of the authors on this issue in the process of forming a bank's marketing strategy.
В статье рассмотрены вопросы применения политики сегментации рынка банковских услуг при разработке маркетинговой стратегии. Кроме того, выявлены сильные и слабые стороны данной политики, а также представлены авторские предложения по их осуществлению.
Key words: bank marketing, marketing strategy, market of banking services, market segmentation policy, acquisition of new segments.
Ключевые слова и словосочетания: банковский маркетинг, стратегия маркетинга, рынок банковских услуг, политика сегментации рынка, выход на новые сегментации рынка.
INTRODUCTION: International practical experience shows that with the implementation of new types of services in the market of banking services and the improvement of the quality of the provided services, the risk of various uncertainties in the activity of commercial banks is constantly increasing. In our opinion, this situation occurs under the influence of the following factors:
- the number of consumers in the market of banking services is not clear, and this, in turn, directly affects the quantity and quality of banking services;
- as a result of the development of the economy, the various requirements for banking services are constantly changing, because consumers do not have accurate information about what banking services they need and when they are needed. In international practice, the main goal of marketing in the activity of commercial banks is to ensure that the services available in the market of banking services reach their customers at a reasonable level.
This marketing process begins with the determination of the requirements of all customers based on a comprehensive in-depth study by commercial banks, and ends with the creation of new types of services that can fully satisfy the identified requirements, as well as their consumption by consumers. Implementation of new banking services by commercial banks in some cases depends on very simple factors, for example, communication issues of bank employees with clients, their workplaces, and methods of delivering new types of services to future consumers.
This factor requires the following tasks in the development of marketing of commercial bank:
1. Determining the current and future market of banking services;
2. Determination of specific trends in the market of banking services in order to fully satisfy consumer demand;
3. Determination of short-term and long-term goals for the introduction of new types of services in the market of existing and future banking services;
4. Development of a program for introducing new types of banking services into practice and carrying out bank control in this regard.

In general, in order to study the market for banking services and identify potential customers, commercial banks use various methods traditionally used in industrial and trade marketing. Here we will try to analyze one of the methods recognized in the work, that is, the essence of the policy of occupying new segments of the market and the specific features of its implementation.

First of all, it should be noted that a market segment is a part of the banking services market separated (grouped) according to certain characteristics. As a new segment, a region where a bank branch has been opened or a group of customers belonging to a previously unserved network can emerge. The destruction of this or that segment is carried out in a similar way.
The main goal of the segmentation policy of the banking services market is to identify strategic priorities in the process of changing the structure of the serviced market by renewing or eliminating previously served regional or industry segments.
The successful implementation of this policy by commercial banks leads to the solution of the following problems:
- in the commercial direction of activity - to ensure that the serviced market structure is beneficial for the bank.
- on the financial side - to increase the volume of sales and achieve growth of income by occupying new market segments.
- in the direction of bank risk management - minimization of commercial risks associated with providing services to specific segments.