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Book Review: Marketing for the Bank Executive

In the last decade, acceptance of marketing and marketing concepts by the banking industry has been revolutionary. Until recently, however, there was a dearth of marketing materials directed specifically to the banking industry. Berry and Capaldini's book fills that need. The editors' overall objective is to introduce the banker to marketing principles in terms and examples that are familiar to him. Their book provides an introduction to the concepts of marketing, and includes a case history of the marketing concept applied to a banking problem. The authors have organized their book concisely. The eight sections include 30 selected readings that range from an introduction to bank marketing through marketing philosophy, the marketing process, marketing research, the marketing mix, public relations, and the future of bank marketing. The articles have been selected to balance classic articles on marketing and bank marketing with requested papers on recent developments in specific areas. The collection includes an annotated bibliography. Editor Berry sets the tone for the collection in his article on the meaning of the marketing concept. A much-discussed theme, this reiteration of basic direction in applying the marketing concept orients the reader immediately. Subsequent articles in Part 2 of the collection amplify and augment Berry's benchmark article. The book includes a reprint of the Booz, Allen, Hamilton study of 1972 on the challenge to banking in the '70s and the '80s. When originally published, this report forecast many of the changes we have already seen in the financial industry, and it forewarned bankers of the challenge of the thrift institutions. The inclusion of this article is a testament to the editors' thoroughness. The editors address the topic of product planning and introduction, distribution, advertising, and sales in six articles. Selling, sales training, and the ancillary activities of selling have always been a very sensitive topic in banking circles. The editors devote three articles to sales, discussing the construction of sales training and motivation programs, a systems approach to selling consumer banking services, and a case history of a successful promotion. The thorough treatment in the book is a most welcome contribution to bank marketing reading. One major shortcoming of the book is the discussion of marketing research. Although an entire section is devoted to the topic, the articles approach the subject from a very basic level, outlining in detail the mechanics of research projects without giving sufficient attention to the role of research in the marketing mix and in the planning function. Absent from the section is the use of the computer in marketing research, although banking can perhaps make better use of the computer for marketing decisions than most businesses. In subsequent editions of the book, Berry and Capaldini might consider raising the level of the articles pertaining to marketing research. In sum, Berry and Capaldini have provided an excellent overview of marketing topics for the bank officer and the student of bank marketing. The collection is a significant contribution to bank marketing literature. JAMES E. SHANKLIN Young, White & Roehr, Inc. Portland, Oregon