Sei sulla pagina 1di 16

M A R K E T I N G M A N AG E M E N T

TOPIC:

S E G M E N TAT I O N S T RAT E GY O F
A S KA R I B A N K
B Y:

OMAIR SHAHID NAGI

TO:

M R . A LY R A Z A S Y E D
CONTENTS

Level of Market Segmentation.........................................................................3

Niche Marketing:..............................................................................................4

Local Areas:..................................................................................................... .4

Individual:.............................................................................. ..........................4

Market Segmentation............................................................................. ........10

Market segmentation for Askari Bank............................................................11

Segmentation of Consumer Markets:.............................................................12

Religion..................................................................................... .....................14

Occupation............................................................................................ .........15

Behavioral Segmentation...............................................................................15

Segmentation of business Markets................................................................15

Customer Profiling..................................................................................... .....16

2
INTRODUCTION OF ASKARI BANK PAKISTAN BRIEF

Askari Bank Ltd (formerly Askari Commercial Bank) was incorporated in


Pakistan on October 9, 1991, as a Public Limited Company. It started its
operations during April 1, 1992. The bank principally deals with banking, as
defined in the Banking Companies Ordinance, 1962. The Bank is listed on the
Karachi, Lahore & Islamabad Stock Exchanges and its shares are currently the
highest quoted from among the new private sector banks in Pakistan.

Askari Bank has expanded into a nationwide presence of 150 branches, and an
offshore banking Unit in Bahrain. A shared network of over 1,100 online ATMs
covering all major cities in Pakistan supports the delivery channels for
customer service. As on December 31, 2007, the bank had equity of PKR 12.27
billion and total assets of PKR 182.17 billion, with over 800,000 banking
customers, serviced by our 6,808 employees.

LEVEL OF MARKET SEGMENTATION

Like other companies Askari Bank is turning to micromarketing at the following


levels:

1. Niche

2. Local Areas

3. Indvidual

4. Segments

3
NICHE MARKETING:

Askari bank belongs to Pakistan Army, and the size of the this market is very
small as compares to other markets so the niche market for Askari Bank is
pakistan Army.

LOCAL AREAS:

Target marketing is leading to market programs customized for the local


customers, Askari bank is also doing local marketing as they have specialized
branches (Corporate Branches) that exclusively cater to the corporate
customers

INDIVIDUAL:

Askari bank is also doing Individual marketing as they are focusing on the
individual customer and have different schemes for individual customers.
Following are the evidences to prove the above statement.

Consumer Banking Services

Askari Mahana Bachat Account (1 + 3 Years Term)

“Earn Rs. 925/- per month on investment of every Rs. 100,000/- for one year!"

“Earn Rs. 1,000/- per month on investment of every Rs. 100,000/- for three years!”

Askari Mahana Bachat Account is a Term Deposit facility available to individual


customer with the option of 1 and 3 Years tenure. It has been designed keeping in
view savings needs of individual investors who don’t want to block their funds for
longer terms, with a competitive rate of return paid monthly on the 1st of every
month. A financing facility up to 90% will be available for customers if required.

4
Askari Roshan Mustaqbil Deposit
has launched theAskari Roshan Mustaqbil Deposit, a saving plan specially designed for individual
investors who wish to invest now for a regular return at a later stage while keeping
their principal amount intact. With Askari Roshan Mustaqbil Deposit you can
double your investment in a time period of ten years. Invest now in the form of
monthly deposits for five years and get paid back the same amount for the next five
years while receiving your principal amount in full at the end of the tenure.

Askari Deposit Multiplier Account

“Value of initial investment of Rs. 100,000/- will increase to Rs. 265,000/- at maturity!

5
Aim higher with your investments with Askari Deposit Multiplier account. This
account is for individual investors whose purpose is long term savings with high
returns. With a tenure of 10 Years and a competitive rate of return on maturity this
account is ideal for investors who wish to start saving for their future today.
A
s
k
a
r
i

B
a
n
k

l
e
a
d
s

t
h
e

w
a
y
,

y
e
t

a
g
a
i
n

w
i
t
h

t
h
e

i
n
t 6
r
o
d
u
c
i
o
n

o
f

A
s
k
a
r
i

V
a
Askari
l Cards
u
Askari Bank is committed to provide you innovative and
e
competitive solutions to your banking needs in a more
efficient and personalized manner. Your Bank enjoys a
P
lstrategic competitive advantage over all domestic
players by virtue of its leadership, large network and
u
technological advancement. In line with our tradition of
s
innovation, Askari Bank takes pride in announcing
launch of Askari Bank's Debit Card.
R
u
p
Askari Debit Card means freedom, comfort,
e
convenience and security, so that you can have retail
e
transactions with complete peace of mind. Askari Debit
Card is your new shopping companion which enhances
D
your quality of life by letting you do shopping, dine at
e
restaurants, pay your utility bills, transfer funds,
p
withdraw and deposit cash through ATM anywhere,
o
anytime.
s
i
tTravelers Cheques

AAskari Bank Limited has always remained at forefront in introducing innovative and
cunique products in banking sector. Our financial instruments provide greater financial
cfreedom and security in an unmatched way to our valued customers.
o
u
Askari Bank offers you its "Rupee Traveler Cheques" eliminating all financial risks while
n
traveling. So avoid risk of carrying cash through Askari Bank's Rupee Traveler
t
Cheques.
s
,
Personal Finance
w
h
iPersonal Finance is a parameter driven product for catering to the needs of the general
cpublic belonging to different segments. One can avail unlimited opportunities through
hAskari Bank's Personal Finance. With unmatched finance features in terms of loan
amount, payback period and most affordable monthly installments, Askari Bank's
pPersonal Finance makes sure that one gets the most out of his/her loan. Once a good
rcredit history is established, the door to opportunity opens much wider.
o
m
i 7
s
e

g
e
a
t
e
r

f
i
n
a
n
Mortgage
c Finance
i
a
l

f
r
e
e
d
o
m

a
n
d

s
e
c
u
r
i
t
y
,

i
n

a
n

u
n
-
m
a
t
c
h
e
d

w
a
y
.
8
N
o
w

y
u

c
a
n

Askari
o "Mortgage Finance" offers the convenience of owning a house of choice, while
living
p in it at its rental value. The installment plan has carefully designed to suit both
the
e budget & accommodation requirements. It has been designed for enhancing
financing
n facility initially for employees of corporate companies for purchase/
construction/ renovation of house.
a

"
V
a
Business Finance
Il
u
n
e
p
u
P
rl
s
u
u
s
a
n
A
c
e
c
o
o
u
fn
t
t"
h
e
w
h
N
i
a
l
te
i
o
e
n
n
a
j
lo
y
o
i
b
n
jg
e
c
t
th
ie
v
e
f
s
l
e
t
x
o
i
b 9
r
i
e
l
v
i
i
t
v
o
t
f
h
e
a
e
n
c
o
o
rn
m
o
a
m
ly MARKET SEGMENTATION
c
o
fh
e
According to the Marketing Concept, the most important thing for a business is
tc
to
k identify the needs and wants of the customers. Today the job is not to find
h
the
ie right customers for your products but to find a right product for your
customers.
n The traditional view of marketing is that a company makes
something
g
c and then sells it.
o
a
u
c
n
But
tc this traditional view did not work in economies where people face abundant
choices
ro i.e. the “mass marketing” is actually splintering into numerous
micromarketing each with its own wants, needs, preferences, perceptions and
u
y
buying criteria. This thing makes the marketers realize that the marketing
,n
tshould be place at the beginning of the business process. The first step of new
.value creation and delivery process is strategic management in which the
A
C
marketers choose the value for the customers according to their needs.
B
L

i
But the problem is that the whole market is very diverse, the customers of
s
different wants and needs linger in the same markets, so how a marketer can
satisfy all the customers? --- Here comes the concept of segmentations which is
p
basically the process of dividing the market into the groups of customer of same
r
needs and wants. The companies first identify the various segments and then
V
o
choose
a
v which one to target.
li
u
d
e
i
n
P
g
l
u
l
s
o
a
D
n
e
s

t
o

s
m
a
l 10
l

a
n
m
e
d
i
u
m
MARKET SEGMENTATION FOR ASKARI BANK
s
i
z
e
According to the state Bank of Pakistan regulations for all banks regarding
customers is that, every one is your customer who has account in your bank
b
even of hundred rupees. So the bank targets every one who has a reasonable
u
amount
s of money to deposit. Due to the worst economic conditions in Pakistan,
Askari
i bank has congested the loaning facility and now focusing more on
depositing
n customers. Askari Bank has segmented the market into two groups
and these are:
e
s
s 1. Commercial/Individual Customers

e 2. Corporate Customers
n
t a. Big Companies
e
r
b. SMEs
p
r
iThe figure 1 summarize the detail of market segmentation of Askari Bank
s
e
s

u
n
d
Market segmentation
e for Askari Bank
r
Consumer Business
A Markets
s Markets
k
a
r
Geographic Demographic Behavioral Demographics
i

B
a Occupatio Benefit
n Cities Location
n s
k
'
s Differe Industr
Religio
nt y
n
B
u
s
i Age Size
n
e 11
s
s

F
i
a
n
c
e

S
c
h
e
m
e Figure 1: Segmentation of Askari Bank Pakistan
.

O
u
r

g
o
a
l The detail of Market Segmentation for Askari Bank Pakistan is as follows:

i
s

t
o

o
f
f
e
r
SEGMENTATION OF CONSUMER MARKETS:
a

l
Askari
o Bank segments the consumer market on the basis of the following
variables:
a
n
,

Geographical:
w
h
i
c
Askari
h bank is operating in many big and small cities and they have segmented
their customers on the basis of cities. Then they have divided the city in
different
e geographical units where different branches of Askari bank operate in
those
n units satisfying the needs and wants of the customers of that unit. They
divided the city in different units as they found the need for a bank in specific
a
b
area, opportunity of growing their business and some other businesses in that
larea. For example, Askari bank’s management found the need of a bank,
e
opportunity for their business to open a branch at Akbar Chowk in Lahore and
s
segment this area.
b
u
s
i 12
n
e
s
s
o
m
m
u
n
i
Demographic
t
y

t
Askari
o bank also segments their market on the basis of occupation, they
provide the service of business Finance and personal finance on the basis of the
rfollowing variables:
e
c
e
iBusiness Finance (Customer Profile)
v
e
Age: 21 to 65 Years.
t
Borrowers: Resident Pakistani Nationals. (Geographic)
h
Business Requirements: Maximum upto Rs. 500,000/. (Clean)
e

Employment:
f Minimum one year's business or professional
i experience in the present business
n
Charge/Fees:
a As per current Schedule of charges
n
c
i
n
Personal Finance (Customer profile)
g
Age: Between 21 to 65 years.
r
e
Income: Minimum gross monthly income of Rs. 10,000/-
q
only.
u
iFinancing Limits: Maximum upto Rs. 500,000/. (Clean)
r
e
d

b
y

Employment:
t
h
e a) Salaried: Minimum length of confirmed service with present
m employer is 6 months with a total length of 1 year
service.
b
a
s
e b) Self Employed: Minimum 1 year in business.
d
Charges/Fees: As per current schedule of charges.
o
n
13
t
h
e
i
c
a
s
h

f
l
o
w
s
.

O RELIGION
u
r

v
Askari bank also segment the market on the basis of religion as they have the
a
feature of Islamic Banking
l
u
Islamic
e
Banking Services
d
Islamic Banking was launched under the brand 'Askari
Islamic
c Banking', by opening 6 dedicated Islamic
Banking branches in major cities of the country.
u
s
Further expansion is planned with improved
tcapabilities for offering products conforming to the
o
Shariah principles.
m
e
Askari Islamic Banking opens the doors for Halal
r
banking
s solutions. Our objective is to put in place an efficient banking system
suuportive to economic justice and welfare of society in line with Shariah
standards.
c
a
n
A comprehensive range of Islamic Banking products and services is bieng
offered, in order to meet customer's demand of Shariah Compliant Banking, in
e
the following areas:
n
j
• Islamic Corporate Banking
o
y • Islamic Investment Banking
• Islamic Trade Finance
t • Islamic General Banking
h • Islamic Consumer Banking
e
Islamic Banking products have been approved by the Bank's Shariah Advisor.
c
As per Shariah requirements, funds and products of Islamic Banking are
o
managed
n
seperately from the Conventional Banking side. All funds obtained,
invested
v and shared in Halal modes & investments, under supervision of the
Shariah
e Advisor.
n
i
e
n
c
e
14
o
f

g
e
t
i
n
g

f
i
n
a
n OCCUPATION
c
i
Kissan
n Ever Green Finance
g
Askari Bank has launched this program with the sole motive to provide
dignity, prosperity and freedom to the tiller of the land. The program is
o
n
designed to help small, medium and large farmers in meeting their short-term
input requirements against one time sanction and automatically renewable up
a
to 3 years subject to its stipulated utilization/periodical adjustment. The
t
credit line is sanctioned in the light of available cash flows and input
t
requirements i.e. Seeds, Fertilizer & Pesticides etc.
r
a
c
t
i
v
e

t
e
r
m BEHAVIORAL SEGMENTATION
s

w
i
Benefits:
t
h
Askari bank segment their customer on the basis of the benefits the customers
seeks.
t For example, some customer demand insurance on their account or
locker
h and Askari Bank offers this to the customers seeking this benefit.
e

m
i
n
SEGMENTATION OF BUSINESS MARKETS
i
m
u
Askari bank segments the business markets on the basis of the following
m
variables:
p
rDemographic
o
c
e
s
s
15
i
n
g

t
r
n
a
r
o
u
n
Location: They have many branches in different business markets.
Like they have branch at Gulberg III

Industry: The use the industry variable only for loaning like they
don’t catch the textile sector for loaning

Company size: same as the above case they use the size variable for
loaning feature

CUSTOMER PROFILING

What a bank need? The answer is cash deposit, they target the entire customer
who have sufficient amount of money to deposit. They have certain criteria for
customer (discussed above) only for financing feature, otherwise the strategy all
the banks use is “KYC” which means know your customer. They have account
opening forms for that; they have the link with NADRA to attest the information
given by the customers.

16