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  3. Identification and ranking of factors affecting the attraction of financial resources based on the mixed marketing model in the branches of the Agricultural Bank of Central Province

Identification and ranking of factors affecting the attraction of financial resources based on the mixed marketing model in the branches of the Agricultural Bank of Central Province

Number of pages: 132 File Format: word File Code: 29690
Year: 2014 University Degree: Master's degree Category: Management
Tags/Keywords: Financial resources - Management - Marketing - Marketing mix model - Public administration
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  • Summary of Identification and ranking of factors affecting the attraction of financial resources based on the mixed marketing model in the branches of the Agricultural Bank of Central Province

    Dissertation for Master's Degree

    (M.A)

    Financial Orientation Public Management

    Abstract:

    In the present study, the identification and ranking of factors affecting the attraction of financial resources based on the marketing mix model in the branches of the Agricultural Bank of Central Province has been investigated. The research method used in this research was descriptive-analytical. This research is applied and cross-sectional. The statistical population of the research includes all the employees and managers of the Bank of Agriculture branches in the central province, numbering 175 people, and the sample size is equal to 120 people. Simple random sampling was done in order to collect information in the theoretical literature section of the research through library studies, and a questionnaire was also used in the measurement section of the research indicators. To analyze the collected data, analytical statistics are proposed in two forms, descriptive and inferential statistics. First, by using descriptive statistics, an understanding of the situation and demographic characteristics of the respondents will be obtained, and then with the help of the Delphi technique, the validation of the factors specified by the questionnaire and then with the help of TOPSIS decision making technique will be done to prioritize them. The results obtained from the research showed that 13 effective factors in attracting financial resources in the agricultural bank in the central province have a higher priority than the other factors from the point of view of the experts, and among them the factor "decrease in the cost of banking services due to the reduction of the time to access the services in the banking system" has the highest priority.

    Key words: attracting financial resources, marketing mix

    Chapter One

    Research overview

    1-1. Introduction

    In today's competitive business world, customer satisfaction is one of the key factors that banks are looking for. Satisfied and loyal customers bring stable income to the bank. Therefore, in order to pay attention to the customer and ensure their satisfaction, banks attach special importance to components such as knowing the customer, customer relations, determining the methods of ensuring satisfaction and providing suitable goods and services to meet their needs, because the customer is the most important asset of any organization (Ekrami, 2018). Therefore, it is appropriate in the current competitive market, which is associated with the privatization of a large number of state-owned banks, that banks should think of solutions as soon as possible to attract resources on the one hand and keep their customers on the other hand. On the other hand, today's customer's judgment in banking matters is based on the bank's ability to help solve problems and develop its business. Security, transaction speed, consumer friendliness and convenience, ease of use, trust and privacy issues are among the most important factors in choosing a bank by a customer. (Aghazadeh and Zulfaqari, 1389).

    Today, innovative methods, effective customer orientation, provision of efficient technologies, servicing and customer desired services are required. Any bank that is more successful in these matters will also be able to attract more resources in a competitive market, resulting in durability, permanent survival and higher productivity.

    Concerning the customer is the most important factor in the success of any organization. The main priority in any organization should be to attract and retain customers. Failure to realize this means not making profit, not growing and finally losing business (Jaafarpour and Fayazi, 2019).

    Marketing mix represents the basic activities of marketing managers. After choosing a target market, marketing managers should develop a systematic plan to sell to customers and create long-term relationships. Serious attention to service management and marketing can bring about a new transformation and direction in banks. Some of the inconveniences and dissatisfactions are the result of the ignorance and negligence of people who are weak in managing services, understanding contacts and responding to their demands and needs (Hosseini et al., 2013).

    1-2. Statement of the problem

    Attracting resources is one of the key and fundamental and strategic goals of banks and credit financial institutions and plays a special role in providing services.Statement of the problem

    Attracting resources is one of the key, fundamental and strategic goals of banks and credit financial institutions, and it plays a special role in providing banks' services and is considered an important indicator in evaluating the success of banks. In Iran, in recent years, banks have made relatively good progress in the field of electronic technology, which is considered an important factor in equipping modern banking resources, but the services provided by banks vary in terms of quality and variety. It is far from global standards and the level of customer satisfaction has not been paid much attention. Currently, financial institutions and banks in our country have not presented a plan to attract financial resources and diversify services, and the fact that banking services are similar to each other in different banks is a proof of the truth of this claim. In today's competitive markets, attracting financial resources is the most important goal of any financial institution, therefore, in the not-too-distant future, banks and financial institutions in Iran will have no choice but to deal with the factors that lead to the optimal absorption of resources (Ozi, 2018). On the other hand, systems such as the banking system are very sensitive to marketing behavior.  Marketing in banks starts with increasing resources on the one hand and increasing the demand for facilities on the other hand. The role of banks in attracting resources has been so compatible with the economic and social greed of societies that now after the last hundred years of the banking system, this system has become a very vital complex, so that the role of the banking system as the main factor of sustainable development is undeniable. Alderson's dynamic prevailed along with other system methods as well as the parameter theory developed by the University of Copenhagen in Europe, and new methods such as the product perspective, the task perspective, and the geographical perspective also faced the same fate. Only a few of these models have been able to survive against 4p (Granros [1], 1997, p. 323). Marketing mix represents the basic activities of marketing managers. After selecting a target market, marketing managers must develop a systematic plan to sell to customers and build long-term relationships (Doyle [2], 1995).  The marketing plan consists of decisions about product, price, promotion and distribution. These are the most important types of departments that marketing managers allocate company resources to in order to achieve sales and profitability goals (Goldsmith [3], 1999, p. 179).

    The marketing mix model, known by many as the 4 P's of marketing, is a powerful tool that can help marketers define marketing strategies. Marketers use this tool to determine the appropriate responses to their target market segments. It should not be forgotten that the marketing mix is ??one of those factors that is under the management's control, and it can be claimed that most of the marketing plans and decisions are based on one of these 4 areas:

    Agricultural Bank is also located in an environment that has relative and competitive advantages and is required to apply marketing principles.  A detailed understanding of the factors affecting the attraction of resources by well-known banks can be of considerable help to the managers and decision makers of the banking sector to attract resources. In fact, what improves the quality of banks' performance is their success in discovering the needs and expectations of customers and providing services based on those demands. Due to the importance of this issue, that is, customerism and even customerism in organizations, especially in banks, the issue of competition has gradually become the most basic management approach, as a result, on bank managers. It is obligatory to be constantly informed about the opinions of their customers and adopt and implement policies and decisions that do not differ from the expectations of customers. Therefore, in order to achieve success, any institution that provides some kind of goods or services to its customers must put the marketing system at the forefront of its actions.

    Therefore, in this research, an attempt is made to answer the question based on the marketing mix model, which are the most important factors affecting the attraction of financial resources in the branches of the Agricultural Bank of Central Province? And what is the ranking of the identified factors affecting the attraction of financial resources?

    -3.

  • Contents & References of Identification and ranking of factors affecting the attraction of financial resources based on the mixed marketing model in the branches of the Agricultural Bank of Central Province

    List:

    The first chapter of general research. 1

    1-1. Introduction. 2

    1-2. State the problem. 3

    1-3. The importance and necessity of conducting research. 6

    1- 4- Research objectives. 8

    1-5. Research questions. 8

    1-6. Definitions of variables and keywords. 9

    1-6-1. Theoretical definitions. 9

    1-6-1-1. Equipping and attracting bank financial resources. 9

    1-6-1-2. Marketing mix. 9

    1-7. Research scope: 10

    The second chapter of theoretical studies. 11

    2-1. Introduction. 12

    2-2. The emergence of banks and banking. 14

    2-3. Basic principles of the banking industry. 15

    2-4. marketing 16

    2-5. Actions of banks in the matter of marketing. 17

    2-6. Factors affecting the success of banks and financial institutions in equipping financial resources. 18

    2-7. Internal organizational factors affecting the attraction of resources. 20

    2-7-1. Service agents. 21

    2-7-2. Financial factors. 23

    2-7-3. Communication and human factors. 24

    2-7-4. Physical factors and conditions. 27

    2-8. The marketing mix. 28

    2-9. Marketing mix of banking services. 34

    2-10. service or product. 35

    2-11. Dimensions of product marketing mix. 36

    Pricing objectives. 43

    Dimensions of price marketing mix. 46

    Factors affecting pricing 47

    Location. 48

    Dimensions of distribution marketing mix (place). 49

    Distribution channel management. 51

    Promotion 53

    Dimensions of mixed marketing promotion and advertising. 54

    Limitations of the marketing mix model. 59

    History of Agricultural Bank. 62

    Research background. 67

    The third chapter of research methodology. 77

    3-1. Research method. 78

    3-3. Statistical population. 79

    3-4. Statistical sample. 79

    3-5. Data and information collection tool. 79

    3-5-1. Data collection tool 79

    3-6. Validity and reliability. 80

    3-7-1. Cronbach's alpha. 80

    3-7. Data and information analysis method. 81

    The fourth chapter of data analysis: 82

    4-1 Introduction. 83

    4-2 Descriptive statistics. 83

    4-2-1- Educational qualification. 83

    4-2-2-age. 85

    4-2-3- Gender. 86

    4-3 inferential statistics. 87

    Answering research questions. 87

    First part: Delphi technique. 87

    First step: Analysis of answers to the first questionnaire. 87

    The second step: the level of agreement with the identified criteria from the point of view of banking professionals. 91

    The third stage: the level of agreement with the specified criteria (achieving consensus). 94

    The second part: confirming the indicators using the t-test. 96

    The third part: Prioritizing criteria for attracting financial resources using TOPSIS technique. 99

    The first step: creating the decision matrix: 99

    The second step: normalizing the decision matrix: 101

    The third step: obtaining the weighted scaleless matrix: 102

    The fourth step: determining the positive ideal and negative ideal factor: 103

    The fifth step: calculating the distance from the positive ideal and Negative: 104

    Sixth step: calculating how close each factor is to the ideal positive and negative ideal factor: 104

    Seventh step: ranking options: 104

    4-4 summary. 106

    Chapter five conclusions and suggestions: 107

    5-1 Introduction. 108

    5-2 Review of previous chapters. 108

    3-5 research results. 108

    5-3-1 The results of prioritizing factors effective in attracting financial resources based on the mixed marketing model: 109

    5-4 Comparison of the results of this research with previous research: 110

    Suggestions. 111

    5-6-1 Practical suggestions. 111

    5-6-2 Suggestions for future research. 114

    5-5 research limitations. 114

    Resources. 115

    Foreign sources. 120

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    Ekrami, Ahmed (2018), the relationship between the quality of services received by employees of the organization and their ability to serve customers (Bachelor's thesis), Tehran, Allameh Arshad University Tabatabai.

    Aghazadeh, Hashem. Zulfaqari, Mahin, 2019. Investigating factors affecting the success of bank branches in mobilizing financial resources (a case study in Semnan Tejarat Bank branches), the secondInvestigating factors affecting the success of bank branches in equipping financial resources (a case study in Tejarat Bank Semnan branches), the second international financial services marketing conference, Tehran, financial services marketing center.  

    Ebrahimi, Abdulhamid.Rusta, Ahmed.Venus Davar.Marketing Management, Organization for Studying and Compiling Humanities Books of Universities (position). 4 Shahrivar, 1386.

    Ozi, song. (1388). "Prioritization of relational marketing factors affecting the level of satisfaction of key capital customers". Master's thesis in business management, Allameh Tabatabai, Tehran.

    Bahmand, Mohammad and Bahmani, Mahmoud (2018). Domestic banking/ Mobilization of monetary resources, 15th edition of the Higher Institute of Banking Publications.

    Taqvi, Mehdi, 2013, Macroeconomics, Payam Noor University Publications, quoted from Dunya Mozor website, pp. 176-185

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    Jazaeri Noushabadi, Ahmed Reza. 1389. Identifying the influencing elements of service marketing mix on the choice of a private bank (case study: Tehran), the second international service marketing conference. Tehran, Financial Services Marketing Center. Hosseini, M.; Vaqadri, S., Model of factors affecting the quality of banking services. Perspective of Business Management, (1389), No. 3(36), pp. 89-115

    Hosseini Moghadam, Maryam Elsadat (1389), investigating the feasibility of establishing electronic banking in the country's banking system from the point of view of managers and expert bank employees, Trend specialized scientific journal, numbers 41-40, Central Bank of Iran.

    Hosseini, Mirza Hassan. Parhizgar, Mohammad Mahdi. Abbasi Sphinzani, Hossein. (1390). Providing a mixed marketing model for complex and chaotic business environments. Business Review Quarterly, No. 47, pp. 27-43. Hamdi, Karim. Dost duty, Hussain. Ali Haji, Muhammad Ali. (2012). The effect of mixed marketing elements on the sale of light starter batteries (a case study of Tehran city), Marketing Management Magazine, No. 18, pp. 47-62. Khaki, Gholamreza, research method with an approach to thesis writing, first edition, Tehran, Reflection Publications 1382. Khalili Shurini, Siavash, (1388), research methods in human sciences, Tehran: Yadavare Kitab.

    Khodadad Hosseini, Seyyed Hamid and Rizvani, Mehran. 2018. Fuzzy marketing mix modeling (a case study of the personal car battery industry) Commercial Research Quarterly, No. 51, pp. 277-241.

    Daei Karimzadeh, Saeed. Alimoradi Rizi, Mohammad, Habibipour, Hojjat. 2012. Investigating the effective factors on the mobilization of bank resources: a case study (Refah bank branches in Isfahan city), Bank of Marketing Articles of Iran, Tehran.

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    Kotler, Philip

Identification and ranking of factors affecting the attraction of financial resources based on the mixed marketing model in the branches of the Agricultural Bank of Central Province
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