Template-Type: ReDIF-Article 1.0
Author-Name: Péter Kalmár
Author-Name: Zoltán Zéman
Author-Name: János Lukács
Author-Workplace-Name: Szent István University
Author-Email: petkalmar@t-online.hu
Author-Email: zeman.zoltan@gtk.szie.hu
Author-Email: mkvk@mkvk.hu
Title: Bank controlling with a marketing attitude –
applied statistics in the service of controlling
Abstract: In this study, the authors present the analysis of 14 regression models (implemented
in business practice as well) which examine willingness to buy and were prepared
in the past 5 years at three market-leading retail banks in the United Kingdom,
as well as the analysis of the output / explanatory variables of these models. The
models aimed primarily at existing customers’ willingness related to the buying and
repeated buying of instant access, fixed term and ISA-type savings products. The
models prepared jointly by the authors and the banks’ own analysts fundamentally
served a double purpose. The ultimate business objective was to use the models in
real sales campaigns with the intention to elaborate, in addition to the selection
criteria of the existing direct marketing system, a selection procedure that gives
a more precise estimate of willingness to buy. With the help of the more precise
estimation, the new procedure proposes the involvement of only those customers
in direct marketing whose willingness to buy is higher than in the case of random
selection. This boosts cost efficiency, reduces the number of customer complaints
and increases customer satisfaction. The scientific goal of the study is to explore the
factors that affect the purchase of bank products, the weight of these factors and
the direction of influencing, as well as to call attention to a potential development
possibility of the methodology of controlling. The methodological processes
described in the study can be applied in the preparation of more accurate product
sales forecasts, may serve as a basis for campaign cost optimisation processes
and may be part of customer value calculation methods as well. The findings can
be utilised in other areas of science and business as well. Firstly, they provide
information for controlling specialists responsible for the area of marketing that
allows more precise planning, and provide timely insight for business analysts into
the area of customer behaviour. Secondly, with this study the authors wish to call
attention to the necessity of using up-to-date statistical methods and the results of
social science in the field of banking and other services sectors.
Classification-JEL: C35, G14, G21, M31
Keywords: willingness to buy, regression model, key variable, banking sector,
marketing controlling, bank controlling
Journal: Financial and Economic Review  
Pages: 110–125
Volume: 14
Issue: 4
Year: 2015
File-URL: http://english.hitelintezetiszemle.hu/letoltes/5-kalmar-zeman-lukacs-en.pdf
File-Format: Application/pdf
Handle: RePEc:mnb:finrev:v:14:y:2015:i:4:p:110-125