Characteristics and Behaviors Types of Bank’s Clients and the Negotiation Tactics Adjusting (part II)

In an attempt to stay on the market in a more and more competitive environment, banks turn to classifying clients in behavioral types and consequently adapt their offer, their dialogue and negotiation techniques and also their selling tactics. The final goal is to maintain and attract a market share as possibly large formed by SMEs and individuals, that are lately been offered more and more new types of products, both by banks and by other financial companies. In the attempt to make them known on the market, banks must find the way between the unique transaction and the long term partnership, based on win-win negotiation strategy.Bank services; Competitive environment; Negotiation techniques.

Characteristics and Behaviors Types of Bank’s Clients and the Negotiation Tactics Adjusting

In detail knowledge of clients that banks enter in business relations with is a way of increasing the efficiency of banks’ investment portfolio. This is because banks so manage to attract new clients more easily and also keep the existing ones into their portfolios, through identifying their motivational factors and consequently adapt dialogue and negotiation techniques and marketing and selling tactics. Also, by applying those methods of classifying clients into behavioral categories, banks better manage to protect themselves from the risk of loosing a viable client or attracting a potentially bad faith client. These methods of classifying clients will become more useful as the Romanian banking market is more and more oriented towards the retail segment, formed by SMEs and individuals, for which are very important the customized and mutual trust relationship with the banking officer, in view of finding the best banking product that best satisfies their needs.behavioral categories; risk management; banking product; negotiating