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Abstract:
Satisfaction of the need for products and services is achieved through consumption, preceded by a succession of actions by which the consumer decides to purchase a certain service, according to its requirements.
An understanding individual need for financial-banking services not only helps developing and selling products and services, but is also a proof of the bank's concern with customers. Understanding consumer behavior helps a bank to anticipate the likely response of a customer and can influence the structure and planning the services offered by the banks.
Keywords: consumer behavior; bank strategy; individuals; corporate customers; banking products and services
JEL Classification: G24; M29
Introduction
For a bank, it is crucial that its staff understand the needs and motivations of the individual, as well as any element that may influence its transactional decisions. Even if the activity of a part of the bank staff does not involve direct contact with clients, its activity is found at various levels of services perceived by customer and therefore contributes to its satisfaction.
There are some aspects of human behavior that are consistent within groups, and they can be used to understand the behavior of a bank's customers.
1. Concept headings
Literature in the field, as well as banking practice, highlights the fact that in its manifestation, the behavior of the consumer is subject to three categories of influence:
* directly observable influences (economic and demographic factors, marketing mix factors and situational factors);
* influences of exogenous, sociological factors (family, membership group and reference groups, social class, culture and subculture);
* influences of endogenous, psychological factors (perception, information, learning, personality, motivation and attitude).
In the wide-ranging analysis of consumer behavior, Kotler and Keller (2008) starts from the analysis of the factors influencing it, grouped into:
* cultural factors, represented by: culture, subculture and social class;
* social factors, including: reference groups, family, roles and statuses;
* personal factors, which refer to: the age and stage of the life cycle, the occupation, the lifestyle, the economic circumstances, the personality and the self-opinion;
* psychological factors, designated by: motivation, perception, learning, beliefs and attitudes.
Particularly interesting by the way of approach was the classification of Cătoiu and Teodorescu (2007), which considers that the purchasing behavior is influenced by two types of...