Skip to main content
editor@theusajournals.com | Oscar Publishing Services Journal Home

International Journal Of Management And Economics Fundamental

Peer Reviewed | Open Access | E-ISSN: 2771-2257
Published Article

The Role Of Customer-Oriented Approach In Enhancing Bank Competitiveness

The Role Of Customer-Oriented Approach In Enhancing Bank Competitiveness

  • Bobokhujaeva Fotima Kakhramonovna
    Tashkent State University of Economics, Independent Researcher, Uzbekistan
Bank marketing customer-oriented approach competitiveness

This article examines the economic essence of a customer-oriented approach in bank marketing and its role in enhancing the competitiveness of banks. Under the conditions of the modern financial market, the intensification of competitive factors in banking activities, changes in customers’ financial behavior, and the increasing demand for service quality necessitate the implementation of new marketing management approaches. The study analyzes the impact of customer-centric marketing on the banking services market, the mechanisms of customer value creation, and the achievement of competitive advantage through strengthening customer loyalty. Based on the research findings, scientific and practical conclusions are developed aimed at elevating bank marketing to the level of strategic management.

Kotler, P., & Keller, K. L. (2016). Marketing management (15th ed.). Pearson Education.

Grönroos, C. (2007). Service management and marketing: Customer management in service competition (3rd ed.). John Wiley & Sons.

Berry, L. L. (1995). Relationship marketing of services—Growing interest, emerging perspectives. Journal of the Academy of Marketing Science, 23(4), 236–245. https://doi.org/10.1177/009207039502300402

Zeithaml, V. A. (1988). Consumer perceptions of price, quality, and value: A means–end model and synthesis of evidence. Journal of Marketing, 52(3), 2–22. https://doi.org/10.1177/002224298805200302

Parasuraman, A., Zeithaml, V. A., & Berry, L. L. (1988). SERVQUAL: A multiple-item scale for measuring consumer perceptions of service quality. Journal of Retailing, 64(1), 12–40.

Zeithaml, V. A., Bitner, M. J., & Gremler, D. D. (2020). Services marketing: Integrating customer focus across the firm (8th ed.). McGraw-Hill Education.

Rust, R. T., Zeithaml, V. A., & Lemon, K. N. (2004). Customer-centered brand management. Harvard Business Review, 82(9), 110–118.

Lemon, K. N., & Verhoef, P. C. (2016). Understanding customer experience throughout the customer journey. Journal of Marketing, 80(6), 69–96. https://doi.org/10.1509/jm.15.0420

Kumar, V., & Reinartz, W. (2016). Creating enduring customer value. Journal of Marketing, 80(6), 36–68. https://doi.org/10.1509/jm.15.0414

Payne, A., & Frow, P. (2005). A strategic framework for customer relationship management. Journal of Marketing, 69(4), 167–176. https://doi.org/10.1509/jmkg.2005.69.4.167

Verhoef, P. C., Lemon, K. N., Parasuraman, A., Roggeveen, A., Tsiros, M., & Schlesinger, L. A. (2009). Customer experience creation: Determinants, dynamics and management strategies. Journal of Retailing, 85(1), 31–41. https://doi.org/10.1016/j.jretai.2008.11.001

Homburg, C., Jozić, D., & Kuehnl, C. (2017). Customer experience management: Toward implementing an evolving marketing concept. Journal of the Academy of Marketing Science, 45(3), 377–401. https://doi.org/10.1007/s11747-015-0460-7

Reinartz, W., Krafft, M., & Hoyer, W. D. (2004). The customer relationship management process: Its measurement and impact on performance. Journal of Marketing Research, 41(3), 293–305. https://doi.org/10.1509/jmkr.41.3.293.35991

Rust, R. T., Moorman, C., & Bhalla, G. (2010). Rethinking marketing. Harvard Business Review, 88(1–2), 94–101.

Payne, A., Frow, P., & Eggert, A. (2017). The customer value proposition: Evolution, development, and application in marketing. Journal of the Academy of Marketing Science, 45(4), 467–489. https://doi.org/10.1007/s11747-017-0523-z