FINAL PROJECT 1
BANK MARKETING
INTRODUCTION
Marketing of bank items is the total capacity retained at giving the office to fulfill client's financial
needs more than the competition keeping in view the authoritative targets. Banking is a customized
service-oriented industry and subsequently ought to give services which fulfill the clients' needs.
The marketing strategy incorporates grouping, reacting and fulfilling the clients' needs and needs
effectively, expertly, and gainfully.
The fundamental job of the bank isn't just to achieve and win an ever-increasing number of clients
but also to provide them with the best possible services. Marketing as related with banking is to
disclose an appropriate guarantee to a client through an assortment of items and administrations
and furthermore to affirm usable dissemination through fulfillment.
Objective: There has been a revenue decline for the Portuguese bank, and they would like to know
what actions to take. After investigation, we found out that the root cause is that their clients are
not depositing as frequently as before. Knowing that term deposits allow banks to hold onto a
deposit for a specific amount of time, so banks can invest in higher gain financial products to make
a profit. In addition, banks also hold better chance to persuade term deposit clients into buying
other products such as funds or insurance to further increase their revenues. As a result, by using
machine learning algorithm the Portuguese bank would like to identify existing clients that have
higher chance to subscribe for a term deposit and focus marketing effort on such clients. Term
deposit is defined as fixed-term investment that includes the deposit of money into an account at
a financial institution.
