MARKETING AS A BEHAVIORAL SYSTEM: An Illustration of Retail Loans Selime Sezgin Petek Tosun Can Pamir

Student, Student
2015 Scientific Cooperations International Journal of Finance   unpublished
Marketing management, which has elevated the position of marketing to a strategic level in institutions, is generally executed within complex systems. These complex marketing systems are inherently not only "open" but also "behavioral" paradigms, which continuously and overtly interact with their environment and adjust themselves accordingly. Taking the open and behavioral aspects of systems approach into consideration, this paper analyzes the marketing management practice of consumer loans in
more » ... consumer loans in the marketing system perspective and combines marketing theory with practice. The interactions among system elements are also reviewed and analyzed to provide additional insights about the dynamics of marketing system interactions. Since the behavioral aspect of the system will be taken into consideration, certain concepts from behavioral finance and comments from practical experience will be integrated to provide explanations for the psychological factors that are influential in the working of the system. The major aim of this exploratory study is to combine marketing theory with practice by using theoretical approach as a base and the retail loans for exemplification and illustration.