The Study on the Application of Psychological Analysis to the Cross-Selling Strategies of Banking Industry

• Main Authors: Li-Ping Chien, 簡麗萍
• Other Authors: Wen-Hai Chih
• Format: Others
• Language: zh-TW
• Published: 2003
• Online Access: http://ndltd.ncl.edu.tw/handle/53924346028513792446

碩士 === 國立東華大學 === 企業管理學系 === 91 === Over the past decade, researchers have increasingly studied how “relationship marketing” can improve customer loyalty and enhance organizational profits. More recently, under the dual impact of information revolution and the progress of media technology, the researches have been inclined to find the way that “relationship marketing” enhances interactive relationships between sellers and buyers. To enlarge the value of interactive relationships, marketers must not only measure who their actual group of customers and customer behaviors, they must also understand the psychological factors that may have impact on customers when they follow some relationship. Among numerous service industries, the banking industry is the one that is the most suitable for the use of such modern and new skill of interactive marketing due to its nature. In particular, increasing competitions for customers in the financial service industry, available advanced information technology and database and recognition of the importance of market segmentation, all point to the value of taking advantage of interactive marketing to develop a close relationship between sellers and buyers. Because of the importance of identifying profitable segments for targeted cross-selling efforts, the benefits of interactive marketing are especially promising. In the light of above-mentioned purpose, the research developed and tested a relationship segmentation model that focused on how “psychological analysis” information was used in constructing and describing managing financial issues. Furthermore, it also described how the interaction between sellers and buyers was used to find out opportunities for cross selling of products and services to enhance profits for the banking industry. The results are that we could segment customers on the levels of psychological analysis, which include values, attitude, belief, purchasing motives and life style. These components of psychological analysis segmentation can be precisely predicted by a set of limited population statistic data and other related information of database. The most important thing is that the information of psychological analysis may be collected and used by means of “interaction”. With this approach, we can develop individualized and revised market policy by which the inner features of certain customers can be presented. Secondly, the results show that the different segmentation of psychological analysis will have different purchasing and using behaviors, that is, a customer who has different values, belief, attitude, motive and life style from her banks will also want different product, use different quantity of products and have different reason for using the products. At last, four segmentations of psychological analysis are different after exploring customer’s loyalty, so there is no universally applicable and cure-all marketing policy to increase a bank’s interest. On the contrary, in order to enhance long-term profitability, a bank should analyze her customers who have different types of managing financial issues and divide them into different psychological segmentations. Besides, a bank should also manage each segment of customers with different means and further to establish close relationship with customers to take advantage of limited resources for creating maximum profits. Therefore, given the fact that the public have more strong demand for “managing financial planning” services in recent years, a bank should appropriately draw up a certain products and services, communication pattern and the strategy for cross sales for each segmentation through effective behavioral analyses to create customer’s loyalty to the bank and thus further to enhance its profitability.