Main tools of integrated marketing communications of banks

A comprehensive study of the consumers’ needs and demands, the patterns of their social and cultural behavior are essential to the success of the modern luxury companies in their market activity. The purpose of research is to study the possible differences and similarities in the perception of luxury and motivation to purchase these goods by consumers in different parts of the world and selection of acceptable marketing tools. The study is built on the results of analysis of cultural values in some countries using the country comparison tool developed by Hofstede and the results of analysis of scientific articles on the behavior of luxury goods consumers in different countries. The methodology approach – Hofstede’s model of national culture and scientific studies belonging to cultural impacts on luxury consumers’ behavior – is applied to explore cross-cultural differences in luxury consumption behavior. The findings of the study are as follows: consumers from countries with high power distance, collectivism, and masculinity, long-term orientation, and low indulgence primarily perceive social values in consuming luxury goods and are sensitive to conspicuous luxury-status. In cultures with high individualism, masculinity, indulgence, and low power distance, consumers display to perceive individual and functional values and are sensitive to “emotional hedonistic luxury.” The consumption of luxury goods in the Asian region is characterized by significant focusing on social values and status consumption, more than in the rest of the world. The motives of achievements in the form of self-realization and self-actualization are among the main reasons for the luxury consumption of European Union consumers.

Under reducing domestic demand for food in Ukraine and increasing dependence on the world food market, a significant part of quasi-price rent from its sale is assigned by intermediary exporters, thus reducing the welfare of domestic commodity producers and consumers. To mitigate this negative effect, it is necessary to have a carefully designed marketing business strategy. The purpose of this article is to summarize the practice of using the main elements of the marketing complex, analyze the effective management of marketing activities of agricultural producers in Ukraine and determine the main directions for increasing its effectiveness by establishing marketing relations for the product supply. Given the large area of Ukraine and the complexity to obtain monographic data that are not subject to monitoring by the State Statistics Service, the study was conducted using agricultural enterprises of the typical agricultural district, namely Khrystynivka district of Cherkasy region (Ukraine) as an example. It is revealed that the use of marketing tools by agricultural enterprises is limited due to the specifics of commodity products and the managers’ focus on short-term business goals. The analysis of forming and realizing the marketing complex of the district enterprises using the monographic method has shown that enterprises systematically use only elements such as commodity policy and distribution policy, while relying exclusively on retrospective marketing data. Significant increase in the return on marketing costs in the short term can only be achieved if formal or informal associations of commodity producers are formed on a functional-territorial basis. This will create a scale effect and allow each member to reduce transaction costs and get an additional premium. It is proved that while conducting administrative-territorial reform in Ukraine, it is most appropriate to form such associations within the boundaries of the united territorial communities.

Banks and financial services providers can make use of electronic tools in marketing their products and services. The role of e-banking as a marketing tool has not generated a lot of interests by scholars and researchers in this area. This paper examines and discusses the usage of e-banking in marketing the products and services of banks. It illustrates that e-banking could be used for marketing by banks, financial institutions and services providers, and other businesses. Putting together techniques on ebanking, marketing and technology, there is a favorable tri-existence of cross and up selling, cross-marketing and cross cost cutting advantages for financial services providers using e-banking tools in marketing activities. Using Chi-square technique to testthe hypothesis, the paper affirms that e-banking can be used as a marketing tool in marketing the products and services of banks and financial services providers. Three questions were ditched out to students who have at least studied a course in e-banking, marketing of financial services and/or researched on digital banking, thus underlining the respondents’ acquaintances with and knowledge in e-banking concepts as key in the research. Students – of course young, whatsapps and Google classroom media used to collect data are attributes that entertain favorably the application of e-banking as marketing tool.