Exploring Factors Influencing the Sales Crisis in Iraninan Banking Industry- A Case Study of the Private Commercial Banks

Abstract

The purpose of this study is to address two questions: Which factors influence the probability of occurrence of the banking sales crisis in the national banking system regarding the private commercial banks? Amongst the influencing factors, which ones have the most influence on the occurrence of the banking sales crisis? To achieve the study purpose, we performed semi-structured interviews with 15 individuals working in the banking society (branch managers, marketing managers, R&D managers, PR managers, and corporate banking managers in private commercial banks). We explored the factors influencing the banking sales crisis in 3 major themes, 5 minor themes, and 67 concepts. Findings showed that the factors influencing the banking sales crisis are as follows: understanding the banking sales crisis, the external drivers, and the internal drivers. The banking sales crisis is most influenced by external drivers, amongst which the economic, political and then, the social factors are the most influencing ones. Following these factors, the internal drivers, such as the lack of professional training in marketing-related fields, the lack of sales experts, and the internal corruption among the banking staff have considerable impacts that exacerbate the sales crisis. Understanding the banking sales crisis is due to the lack of sales knowledge in the banking system.