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Business Strategy in Student Banking

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Investigating such information would assist banks to recognize the suitable management and marketing strategies required to attract new students as customers and keep hold of existing ones (Kaynak & Kucukemiroglu, 1992). The relevant literature indicates that a great deal of research effort has been put into investigating the bank selection decisive factor for international students in the United Kingdom. Researches on bank management and marketing are not a new phenomenon. In fact, a lot has been written on the subject of bank management and marketing with the bulk of the literature relating to banking behavior of general customers.

A broad range of marketing paradigms related to customers has been examined, including market segmentation, attitudes, purpose, inclinations, bank loyalty, bank selection choices, bank representation, bank service value, contentment and multiple bank users (Garland 2002). One marketing concept related to customers that have fascinated abundance of researches has been the thought process of customers or the grounds on the basis of which customers decide to interact with particular banks (Anderson, Cox & Fulcher, 1976; Evans, 1979; Kaynak, 1986; Boyd, Leonard & White, 1994). A thorough examination of the present literature ascertains the generalization related to the thought process of retail customers.

The population of interest in the vast bulk of such customer researches has been the general customer. Only a few of researches have intended for younger age groups such as the undergraduate section of the market through over past few years, the bank management has started to take a vast interest in this section of the population (Mokhlis, Nik Mat & Salleh 2008). Even though greater parts of undergraduate students are unemployed and their earning comes largely from educational loans, they offer an exceptional business opportunity for banks.

First, in regards to their buying power, the student segment is growing and has turned lucrative (Ayadi 1996).

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preview essay on Business Strategy in Student Banking
  • Pages: 37 (9250 words)
  • Document Type: Essay
  • Subject: Business
  • Level: Undergraduate
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