Title: Bank market conceptual maps: customers' perceptions of Hellenic financial services

Authors: John Mylonakis

Addresses: 10 Nikiforou str. Glyfada, 166 75, Athens, Greece

Abstract: Perceptual mapping has been used to satisfy marketing and advertising information needs related to product positioning, competitive market structure, consumer preferences and brand perceptions. A perceptual map gives useful insights for brand positioning and for introducing new products. This paper investigates perceptual mapping practices used in the Greek banking sector to present and understand perceived differences between bank products and services in the Greek financial market. This paper also reveals important business implications concerning the attempted merger between the two biggest Greek banks, destined to fail because of differences in their customers| perceptions, preferences and service requirements, as well as, in social contribution factors, making rather impossible a vital and successful marketing strategy for the merged bank.

Keywords: segmentation; positioning; mapping; selection criteria; bank strategy; bank marketing; bank competition; bank merger; acquisitions; Greece.

DOI: 10.1504/IJSTM.2004.004055

International Journal of Services Technology and Management, 2004 Vol.5 No.2, pp.140 - 150

Available online: 29 Mar 2004 *

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