Marketing mix in banking in the time of a global financial crisis.

Abstract: Title:Marketing mix in banking in the time of global financial crisis. Purpose:The purpose of this study is to gain better understanding of banks‟ marketing mix in the time of a global financial crisis. Theoretical framework:The theoretical framework presents a review of selected theories of marketing mix and crisis management, the focus on marketing mix in banking and marketing mix in the time of a crisis. Method:This is a qualitative research, with a deductive approach. The research has a form of multiple case study. Empirical Framework:The empirical data have been obtained through interviews and secondary data research. Analysis:The empirical data have been compared with the theoretical framework. The changes of marketing mix trough those phases are analyzed – separately for Sweden and Estonia, by doing two within-case analysis. This is followed by a cross-case analysis. Findings:The global financial crisis resulted in a two-stages crisis for Swedbank. Marketing mix has been used actively by the company while overcoming the impact of the crisis. Depending on the type of the crisis, different marketing mix elements can contribute to the battle against the crisis. The marketing mix changes over different stages of the crisis, because of both internal and external factors.