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which: provides a safe place to save excess cash, known as deposits. supplies liquidity to the economy by loaning this money out to help businesses grow and to allow consumers to purchase consumer products, homes, cars etc.
money both for their advantage and to its own profits. A financial institution that links the flow of funds from savers to the users. Plays an important role in the economy of any country as they hold the saving of the public.
Group,
Private Sector Banks: Foreign Banks, Scheduled and Non- Scheduled Banks Co-operative Sector: State Co-operative Banks, Central Co-operative Banks, Primary Agriculture Credit Societies Development Banks/Financial Institutions: IDBI, ICICI, NABARD
by a banker and payable to bearer on demand) Processing of payments by way of telegraphic transfer, EFTPOS, internet banking or other means Issuing bank drafts and bank cheques Accepting money on term deposit Lending money by way of overdraft, installment loan or otherwise
(trade finance), guarantees, performance bonds, securities underwriting commitments and other forms of off-balance sheet exposures
Safekeeping of documents and other items in safe
deposit boxes
Currency exchange Acting as a 'financial supermarket' for the sale,
distribution or brokerage, with or without advice, of insurance, unit trusts and similar financial products
current accounts subject to cheque or payment at the customer's order. Netting and settlement of payments. Credit intermediation Credit quality improvement Maturity transformation
existence of the customer. Aim is not only to create and win more and more customer but also to retain them through effective customer service. Appropriate promise to a customer through a range of services (products) and also to ensure effective delivery through satisfaction is important.
future; Assessing the present and future needs of customers; Setting business development goals and making plans to meet them Managing the various services and promoting them to achieve the plans Adapting to a changing environment in the market place.
Marketing strategies
Designed after taking into account the strengths
and weaknesses of the organization. bank with clientele from various segments could think of market penetration by offering the existing range of services to existing customers. Bank which are not facing acute competition could think of Market Development by offering the existing services to new customers. design new product range for their customers of various segments
Segmentation
How the sellers determines which
Segmentation
Banks deal with individuals, group of persons and
corporates More or less homogenous groups in terms of their needs and expectations. Market segments, targeting one or more segments, developing products and marketing programs tailor-made for these segments.
Agricultural Sector Marginal 2 to 5 acres 5 to 10 acres 10 acres and above Industrial Sector Tiny Co-operative Small-sized Large- sized
1. 2. 3. 4.
Services Sector Household Sector Marginal Low Income Middle Income High Income
attractiveness is measured and a target segment is chosen based on its attractiveness. Positioning which is the act of establishing a viable competitive position of the firm and its offer in the target segment chosen.
Types of Marketing
Internal marketing
Interactive marketing
and Promotion of marketing mix Product: The products offered are the services which includes various types of bank accounts, different types of loans, investment services, Credit cards, Demat accounts, online banking, mobile banking and many more.
Pricing
includes interest , fees or commission charged by the bank. Also the interest paid by the bank.
Typical for banking sector since RBI regulates rates of interest, Organizations are supposed to subserve weaker sections and the rural regions of the country.
person to person. Keeping in view the level of satisfaction of a particular segment, the banks have to frame the pricing strategies. The interest charged and the interest paid should have a co-relation between them.
Calculate cost
Place
It refers to the establishment and functioning of a
network of branches and other offices through which banking services are delivered. Objective is to get the right product ,at right places at right time at the least cost. Extensive branch network- access to large section of people Proximity may play a determinant role in selecting the bank.
specialized branches, mobile branches, banks acquisition and amalgamation so as to have sufficient point of contacts with the customer. With the advent of technology other point of contacts have come up. Such as: ATM Telephone banking Online banking Mobile banking Video banking etc.
Promotion
Advertising Publicity Sales Promotion Personal Selling Push and Pull Strategies
Internal marketing
It involves the people(5th P) of the bank i.e. the
employees. Employees should also be treated as internal customers, and sort of marketing mix should be followed. Quality Human resource can be a point of differentiation
Interactive marketing
The quality of service provided during the buyer-
employee interaction. Efforts for previous strategies will turn futile if the interaction does not takes place satisfactorily. It involves : Process (6th P) Physical evidence (7th P)
Process
Refers to the systems used to assist the
organization in delivering the service. Aids to the promotion of customer satisfaction It involves: speeding delivery of services reducing the paper work standardization of procedures customization as per individual demand simplicity etc.
Physical evidence
It includes signage, reports, punch lines, other
tangibles, employees dress code etc. The companys financial reports are issued to the customers to emphasis or credibility. Signage: Each and every bank has its logo by which a person can identify the company. It creates visualization and corporate identity for the banks. Tangibles: banks give pens, writing pads to the customers. Punch lines: Depicts the philosophy and attitude of the bank. Banks have influential punch lines to attract the customers.
Direct mailing
Cold calling Offering items having your brand identity Using the media Getting celebrities to endorse the product or service.
Sponsoring events
Using permission-based Marketing
Customer satisfaction
Recommendation of Talwars
committee,1975: Establishment of customer service committee/staff committee in the every ranch. Customer meets to be held at the branches at least once in a half year. 15th of every month (next day if 15th is a holiday) to be observed as customers day at branches and administrative offices. Provision of complaint-cum-suggestion box in every branch.
Provision of May I help you counter in branches. Immediate credit of cheques up to Rs.2,500 which
has since been increased to Rs.15,000. Payment of penal interest in case of delay of collection of cheques. In the year 1995 Banking Ombudsman was established by RBI with objective of resolving customer grievances in a quick and inexpensive manner.
building Banker must be aware of agriculture aspects, cultural and communal aspects, institutional facilities etc. Process of change should be known to him Status of various development plans should be known
RURAL Strategy
R:Retail Business for Rural Community As (Consumer & Producer) U: Urban facilities, Investment, Infrastructure R: Animal Husbandry & Allied Activities A: Agri Production(Field Crops, Plantation) L: Linkages & Synergy
Floriculture, aromatic and medicinal plants, Biodiesel plants etc. for high investment Opportunities Post Harvest and Food Processing Seed Multiplication & Processing Dairy Farming, Sericulture, Aqua-Culture & Others. Irrigation Projects & Wasteland Developments. Rural Tourism & Other emerging areas.
India bank - largest private sector bank in market capitalization Second largest overall in terms of assets. largest issuer of credit cards in India
Saving account: offers a power packed Savings Account with a host of convenient features and banking channels to transact through. Senior citizen services: convenience with benefits Fixed Deposits : Safety, Flexibility, Liquidity and Returns
Affordability and higher earnings. Roaming Current: access your accounts at over 500 networked branches across the country. Loans: Home Loans. Personal Loans. Car Loans, two Wheeler Loans, Commercial Vehicle Loans. Loans against Securities, educational loans etc Investments: ICICI Bank Tax Saving ,Foreign Exchange Services, Senior Citizens Savings Scheme, 2004. Cards: Credit card, ATM card, travelers card
Recurring Deposits:
7 Ps of ICICI Bank
Pricing
1.
2. 3.
4. 2 Fold Strategies
7 Ps of ICICI Bank
1. 2.
Place Services are sold through branches Making Promised Services available to the ultimate users.
7 Ps of ICICI Bank
1. 2. 3.
Promotion
Advertising - Television, radio, movies, theatres Print Media- Hoardings, newspaper, magazines Publicity- Road shows, campus visits, sandwich man, Sponsorship Sales Promotion- Gifts, discount and commission, incentives, etc. Personal Selling- Cross-sale (selling at competitors place), personalized service Telemarketing- ICICI one source Call center (mind space)
4.
5. 6.
7 Ps of ICICI Bank
1.
Process
Standardization- ICICI bank has got standardized procedures got typical transactions
Customization- Specialty counters at each branch to deal with customers of a particular scheme Simplicity- Separate counters exist with clear indication Customer Involvement- Money matters and signature
2.
3.
4.
7 Ps of ICICI Bank
1. 2.
Physical Evidence
Signage Financial Reports- The Companys financial reports are issued to the customers to emphasis or credibility
3.
Tangibles- Pens, Writing Pads to the internal customers. Passbook and Cheque books to the customers.
Punch lines- Hum Hai Naa Employees Dress Code- ICICI bank follows a dress code for their internal customers
4.
5.
7 Ps of ICICI Bank
People
1.
All people directly or indirectly involved in the consumption of banking services. Workers, Employees, Management and other Consumers Employees of a Bank represents the organization to its customers.
2.
3.
4. Internal Marketing
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