Peculiarities of Advertising Banking Operations: Models 4P and 2S

Abstract

The article summarizes the results of the theoretical and practical researches in the field of the advertising carried out by the universal financial organizations. The motivation was the established trend of presenting the bank’s operations to customers in advertising as a product possessing the properties of both goods and services. It contradicts the classical theory of the services laid down by the works of F. Kotler, K. Lovelock, E. Gammesson, K. Grönroos. The paper proposes the reason that explains the phenomenon. It is related to the failure to respect the characteristics of services, such as lack of ownership and intangibility. The article justifies the reason of tangibility, connected with the miscalculation of the results from the conduct of banking operations by the client. Taking into consideration this feature the bank declares competitive advantages in the terms of the 4P product model in the advertising. The paper uses the method of analyzing the advertising messages in the online and offline environments. The generalization of the advertising activities experience is considered on the example of one of the universal banks of the Russian market — JSC Raiffeisen Bank. Its achievements in the field of its profits for 2022 draw attention to the advertising carried out by the bank and its object and subject. The study revealed the use of the 4P model for the mass market and the special model for the business one. The latter was called 2S by the authors, since it includes a service operation (the object of the advertising) and special conditions which are the benefits (time, privileges, technologies) as the subject of the advertising. The obtained results can be used in the promotional activities of any universal bank, since its operations are standard.