THE ROLE OF INTERNET BANK IN THE BANK MARKETING

Purpose of the research is to identify the role of internet bank in the bank marketing in commercial banks in Latvia. Marketing as any bank's function has been influenced by rapid development of information and communication technologies. Internet bank is innovative bank's product that provides environment for banking and marketing and it is based on solutions provided by information and communication technologies. Internet banking has become integral part of bank marketing. It provides possibility to decrease costs of marketing and increase its efficiency. It leaves positive effect on bank's economic aspects as well. Internet bank for bank's marketing experts isn't only bank's product that provides possibility for service delivery to customers but also excellent environment for marketing. Internet bank provides possibility to deliver bank's custom made products as short time to market as possible, for marketing communications (PR, advertising, direct marketing, etc.), pricing (price can depend on customer's segment), marketing research (environment to conduct surveys and to reach exact customer or customers to be surveyed), branding, possibility to innovate, increase efficiency of marketing as well as economic gain, to increase loyalty of customers, additional channels to sell products and to reach customers (e. g. mobile banking). Marketing experts survey indicates that internet banking is important for marketing research, product's time to market, customers' loyalty, marketing communications and they also notices that new communication technologies is important cannel for banking. In general internet bank has very important role in bank marketing. Research results facilitate understanding among marketing scholars regarding importance of internet bank in bank marketing management. Research methods used: literature review, survey methods, descriptive statistics.