IMPROVING BANK MARKET PERFORMANCE

CHERYL J. FROHLICH, C. BRUCE KAVAN, AND A. COSKUN SAMLI


Abstract

The primary assertion of this paper is that banks need to redirect and balance the focus of their business strategy from that of an internal (efficiency oriented) to an external (effectiveness oriented) marketing research program in order to achieve full profit potential. This change in business strategy requires a fundamental paradigm shift in the manner in which banking executives view their industry. The business strategy must change from the narrow "provider of financial service" orientation to the broader ': "fulfiller of financial needs" orientation. A marketing information research system facilitating such a major shift in orientation is presented.

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Gibson D. Lewis
Center For Business and
Economic Development
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