Research of the banking products market in Ukraine and directions for increasing competitiveness justification JSC "Idea Bank" on it
Students Name: Burbeza Mykola Volodymyrovych
Qualification Level: magister
Speciality: Marketing
Institute: Institute of Economics and Management
Mode of Study: part
Academic Year: 2022-2023 н.р.
Language of Defence: ukrainian
Abstract: The competitiveness of a banking institution reflects the success of its operation when it acquires, maintains and improves market positions. The results of the analysis of various approaches in the scientific literature to the definition of the essence of such a concept as "bank competitiveness" made it possible to identify certain of its properties [1, 2, p. 429]. In order to develop measures to increase their competitiveness in the market, commercial banks should evaluate it using various methods, each of which is characterized by the presence of certain advantages and disadvantages [3, 4, p. 1190]. The competitiveness of its products has an important influence on the bank’s competitiveness. Therefore, a commercial bank needs to form a marketing complex that is attractive to the client, constantly implement innovations in it [5, p. 22-48, 6]. Study object – the competitiveness of JSC "Idea Bank" in the market of banking products of Ukraine, its role in the formation of the marketing activity of this bank. Scope of research – the theoretical and methodological principles of the formation of the competitiveness of a banking institution on the market. Goal of research: to study the market of banking products of Ukraine, the competitiveness of JSC "Idea Bank" on it, and to develop recommendations for its improvement. The research findings. JSC "Idea Bank" is a commercial bank with foreign capital. It formulates its product policy separately for two types of market - the market of private customers and business customers and constantly adjusts it according to changes in the environment of its operation. The assortment group of deposit and credit products of JSC "Idea Bank" for private clients is wide enough, for business clients - a little narrower. JSC "Idea Bank" has its own trademark and offers a high level of service for customers. In 2021, there was an increase in the amount of funds raised by him from all groups of clients and loans issued by the bank, which indicates the trust of clients in him. JSC "Idea Bank" is primarily focused on serving private clients. The guarantee of high-quality products of the bank under study is their provision by highly qualified personnel and proper technical equipment of JSC "Idea Bank", the extensiveness of its sales network, as well as safety indicators, which are based on the size and reputation of this bank, the possibility of obtaining additional services from it, active marketing communications , involving the involvement of offline and online tools. In recent years, the banking system of Ukraine has functioned quite stably. The situation worsened significantly under martial law. In 2022, in the rating of the most reliable banks of Ukraine, the first place, as in previous years, went to foreign and state banks. The conducted analysis shows that JSC "Idea Bank" is one of the leading banks in the Ukrainian market in the field of lending to individuals. According to the results of the survey, it was determined that among the most important factors influencing the choice of a bank, clients include the reliability of the bank and the availability of Internet banking, among the most important factors influencing the decision to choose certain banking products are the ability to use them online, loyalty programs for customers, additional features of the banking product and manager consultations. The conducted SWOT analysis of JSC "Idea Bank" made it possible to determine directions for improving its marketing activities with the aim of using market opportunities and strengthening competitiveness on the market. In the course of the conducted research, the competitiveness of the deposit "Profitable" JSC "Idea Bank" compared to similar products of competing banks was determined. Analyzing the obtained results, it can be stated that the "Income" deposit of JSC "Idea Bank" in hryvnia is less competitive than the "Term" deposit of JSC AKB "Lviv" due to the lower annual interest on the deposit, but it is almost at the same level as the deposit " "Profitable" JSC "Kredobank" and "Profitable" JSC "PUMB" deposit. At the same time, in order to increase the competitiveness of its deposit product, JSC "Idea Bank" must first of all improve its consumer parameters, such as its variability, accessibility, and the use of information technologies when providing it. In order to determine the priority of directions for increasing the competitiveness of JSC "Idea Bank" the method of analyzing hierarchies was used. Its results showed that the priority measures in the direction of increasing the competitiveness of the bank under study are expanding its use of electronic sales channels, investing in promising projects in Ukraine, increasing the range of innovative banking products, optimizing the number of branches and representative offices, optimizing the pricing policy for banking products, improving the quality of banking products, packaging banking products for individual segments, improving the quality of the credit portfolio and conducting advertising campaigns on the Internet. Key words: market of banking products, competitiveness of commercial bank, competitiveness of banking product, competitive advantages of the bank, method of analysis of hierarchies. References. 1. Krukhmal O.V., Baranovska O.A. Konkurentospromozhnist banku ta bankivskoho produktu: faktory vplyvu ta otsinka. Efektyvna ekonomika. 2014. № 5. 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