THE ROLE OF MARKET INTELLIGENCE IN INNOVATIVE MARKETING STRATEGIES IN BANKING SECTOR OF PAKISTAN

Abstract

The banking sector in Pakistan is undergoing increased competition and therefore calls for new innovative marketing strategies to be adopted in gaining a competitive advantage as well as ensuring satisfaction among their clients. It also discusses the role that market intelligence plays in understanding what is upcoming in the fields of identification and segmentation of customers as well as the construction of tailored marketing approaches. Thus, the current study proposes a study regarding the integration of market intelligence in formulating innovative marketing strategies in the banking sector of Pakistan. How translate the built-in approach of banks in terms of data-derived understanding that develops value-added characteristics in a personalized provision of services and enhances customer productivity are topics of consideration. The study uses descriptive methodology analyses to arrive at the point where it stresses the critical role that tools such as data analytics, customer relationship management (CRM) systems, and digital platforms play in the collection and analysis of market intelligence. It further identifies some of the major challenges that stand on the way towards effective application of market intelligence in marketing-strategy development, such as data privacy issues and resource constraints. The results show that this will foster a culture of innovation and data-driven decision-making within banks that meets client needs proactively. By harnessing market intelligence, banks in Pakistan can design customized marketing campaigns, improve customer retention, and ensure sustainable growth. Such insights will go a long way in offering valuable information to industry professionals as well as policymakers to optimize marketing practices in the banking sector.