Capstone Project

2016 – 18 Batch

Effect of branding on consumer decision

behavior-a study in relation to banking sector.

Submitted by:
Name of the Student : GUNISHA VISHNANI
Roll No. : PGDM161810381
Program : PGDM
Batch : M4

Name of the Faculty Guide : Prof. Lakshmi Mohan

Institute for Technology and Management

Plot No. 25 / 26, Institutional Area, Sector – 4, Kharghar, Navi Mumbai

[1]
 Acknowledgement

Through the project understudy, I am extremely grateful for the confidence

imparted in me and entrusting my project. I feel deeply honored in
expressing my heartiest gratitude to my faculty mentor
Prof. Lakshmi Mohan for constant guidance and encouragement at every
stage in my project work and also for providing valuable insights leading
to the successful completion of my project.
I would like to thank all my friends and family members for sparing their
time in helping me in this project.

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 Annexures:
Questionnaire to understand effect of branding on consumer
decision behavior-a study in relation to banking sector.
Name:
Address:
Phone Number:
Email id:

Q1. Describe what ‘brand’ means to you.

a) Brand is no more than a name.
b) Image of product in my mind.
c) Important factor as it gives confidence.
d) Important only if followed by good service delivery.

Q2. Does the brand affect your choice at the time of purchasing a product or a
service of a bank?
Yes always
Never
Sometimes

Q3. Do you consider Brand image is important in the banking sector? If yes,
then in what term
a) Building confidence
b) Creating trust and reliability
c) Name & popularity
d) Others

Q4. Which of the following, according to you, help build a good brand image?
a) Quality of product/service
b) Communication strategies
c) Good value added services
d) Free trails and offers
e) Others
If ‘Others’, please specify _________________________________________

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Q5. What attributes you look for while investing in any bank?
Rating on the scale on 1 to 5 (1 being least important 5 most important)

Attributes Not Average Neutra More Most

Importan Importanc l Importan Importan
t e t t
Brand Equity
Universality
Quality of
Service/Produ
ct
Accessible &
Approachable
Customized
services

Q6. What influences you to buy any particular brand?

a) Advertisement
b) Bank employee
c) Word of mouth
d) Any Other

Q7. Can you identify the banks from their Logo?

-------------- -------------- -------------

--------------- --------------- ---------------

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Q8. How memorable would you rate the logo of the above stated brands?

There is no brand recall

On providing cues, the logo comes to mind
Brand recall is there, but weak
It is very memorable and distinct

If Yes-
Would you recommend it to others?
I would recommend it very strongly to others
I would rather let other clients decide for themselves
I myself is apprehensive regarding the services offered
I was not satisfied with the services offered

Q9. Will you like to switch your brand preference if you get some promotional
schemes with another brand?
a) Yes
b) No

1. Demographic Profiling:

 Name

 Age (In years):

20.30 30-40 40-50 Above 50 years

 Sex:

Male Female

 Income Bracket(Annual)- In INR:

10,00,000-15,00,000 15,00,000-20,00,000 Above 20,00,000

Thank you for your time and patience!!

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 Data Collection

Age Distribution
Above 50;
17.00%

20-30; 33.00%

20-30
30-40
40-50
Above 50
40-50; 22.00%

30-40; 28.00%

Gender

FEMALE; 36.00%

MALE
FEMALE

MALE; 64.00%

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 INCOME

22.00%

3L-8L
8L-13L
48.00% Above 13L

30.00%

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 Are you a brand conscious person?

NO; 29.00%

YES
NO

YES; 71.00%

Describe what 'brand' means to you.

9; 10.00%

24; 26.67%

Bra nd i s no more tha n a name

Bra nd i s the i ma ge of product i n

my mi nd

Bra nd32;i s 35.56%

a n i mporta nt factor as
i t gi ves confidence

Bra nd i s i mporta nt onl y i f

fol l owed by good s ervi ce
del i very
25; 27.78%

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Does the brand affect your choice at the time of purchasing a product or a service of a bank?

27; 27.00%

Yes Always
Never
Sometimes

61; 61.00%

12; 12.00%

Do you consider brand image is important in the banking sector? If yes, then in what term
7; 7.00%

23; 23.00%

Building Confidence
Creating trust & reliability
31; 31.00%
Name & Popularity
Others

39; 39.00%

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Which of the following, according to you, help build a good brand image?

18; 18.00%

29; 29.00%

Qual i ty of product/s ervi ce

Ma rketing strategi es
Va l ue added s ervi ces
Free tra i l s and offers
Others
19; 19.00%

34; 34.00%

What influences you to buy any particular brand?

17; 18.48%
21; 22.83%

Advertis ement
Bank empl oyee
Word of mouth
Any Other

21; 22.83%

33; 35.87%

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 Can you identify the banks from their Logo?

82; 14.83% 71; 12.84%

Andhra Bank
HDFC
Axis ba nk
100; 18.08% Bank of Ba roda
100; 18.08% SBI
Kotak Mahi ndra

100; 18.08%
100; 18.08%

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Will you like to switch your brand preference if you get some promotional scheme with another brand?
NO; 18.00%

YES
NO

YES; 82.00%

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Table of Contents
Page
Number
Sr. No. Particulars

1. INTRODUCTION 14
1.1 Introduction 15
1.2 Project Aims 16
1.3 Objectives of the Project 16
1.4 Understanding Branding 17

2. LITERATURE REVIEW 14-36

2.1 History of branding 14
2.2 Importance of branding 15-21
2.3 Brand strategy and types 22-31
2.4 Banking in India 32-37
2.5 State of India- Strategies 38-43
2.6 Bank Brand Image & Branding 44-45
2.7 Brand Image perception--banking sector 46
2.8 Brand management challenges in financial services 47

3. RESEARCH METHODOLGYY 48
3.1 Introduction 48
3.2 Research approach 48
3.2.1 Secondary data 48
3.2.2 Primary data 48
3.2.3 Data analysis technique 48
Data analysis tool

DATA COLLECTION & INTERPRETATION

FINDING & CONCLUSION

6. RECOMMENDATION 53

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Chapter 1 : INTRODUCTION
1.1 Introduction

Brand is a Guarantee, an assurance for a defined standard of quality for

the first time and for every time but not the vice versa. Brand is name or
logo that plays the role in the mind of the customer. Brands do not
compete in the product area but compete for the mind space of the
customer. A brand once established in the mind of the customer becomes
indelible when customer identifies itself with that particular Brand.

Branding is an effective marketing strategy tool that has been used with
frequent success in the past. Branding can be an effective and powerful
tool for all types of business organizations. If brand owners use their
product correctly, the payoffs can be substantial. However, if brands are
mismanaged, the results can be damaging.

The banking sector is the lifeline of any modern economy. It is one of the
important pillars of the financial system, which plays a vital role in the
success/failure of an economy. Banks are one of the oldest financial
intermediaries in the financial system. They play an important role in
mobilization of deposits and disbursement of credit to various sectors of
the economy.

The Capstone Project aims to investigate the effect of branding on

consumer decision-in relation to Banking sector. How consumers are
prepared to pay for the products/services, how important they consider
price, brand or other factors during their purchasing decisions.

This project is thus a timely stuffy of the importance of brands, what it

takes to build them, what benefits do they give to different stakeholders
(organization, distributors and customers), how can they be leveraged,
what is the impact of modern technology on branding, branding on the
web, branding in mergers and acquisitions etc.

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1.2 Project Aims
Importance of understanding branding and its impact on modern day
markets is vital to the health and growth of most industries. The aim of
this project is to put into perspective the functional values of branding as
well as assess its role in the consumer purchase decision-making process.

• Understanding the concepts of branding and consumer decision

behavior.

• To study the effect of brands on consumer buying behavior in relation

to Banking Sector.

• To analyze the branding strategies adopted by some of the banks to woo

the consumers into buying their products.

1.3 Objectives of the Project

In order to fully answer the research question paper, the following
objectives have been set:

• Set a valid and sustainable research question in order to achieve a non-

bias and accurate understanding on the topic in question;

• Present the key concepts behind branding, its values and its usage in
modern day marketing campaigns by reviewing current literature
pertaining to the subject matter;

• Determine whether a correlation between consumer identities and

perceived brand identities is present;

• Determine the impact of branding on the consumer purchase decision-

making process.

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1.4 Understanding Branding

BRAND
The word “Brand” owes its origin to the Norwegian word “brand” which
means to burn. Farmers used to put some identification mark on the body
of the livestock to distinguish their possession. Products are what
companies make, but customers buy brands. Therefore marketers resorted
to branding in order to distinguish their offerings from similar products
and services provided by their competitors. Additionally, it carries an
inherent assurance to the customers that the quality of a purchase will be
similar to earlier purchases of the same brand.
A brand is a name, term, sign, symbol or design or a combination of one
seller or a group of sellers and to differentiate them from those of
competitors.
BRANDING
Branding is a process, a tool, a strategy and an orientation.
 Branding is the process by which a marketer tries to build long term
relationship with the customers by learning their needs and wants so
that the offering (brand) could satisfy their mutual aspirations.
 Branding can be used as a differentiation strategy when the product
cannot be easily distinguished in terms of tangible features (which
invariably happens in case of many services, durables etc.) or in
products which are perceived as a commodity (e.g. cement,
fertilizers, salt, potato chips etc.).
 Brand building is a conscious customer satisfaction orientation
process. The brand owner tries to retain customers to its fold over
their competitors by a mix of hardware software because when a
customer feels satisfied he / she develop a kind of loyalty for the same

Kotler (1999) expands on the concept of identity by stating that a

brand is capable of conveying up to six different levels of meaning to
a targeted audience. This is known as the “Six Dimensions of The
Brands

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Attributes A brand will communicate specific attributes, such as prestige

A brand strengthens a product’s attributes by communicating a

Benefits set of benefits that makes it more attractive.

Values A brand represents a company’s core values and belief system

Culture A brand is representative or target a target audiences socio

cultural characteristics

Personality A Brand can project behavioral personality patterns of

targeted consumers

User The brand, in some cases, can emulate the end user

From the consumers’ perspective, brand names are as fundamental

as the product itself in the sense that they simplify the purchasing
process, guarantee quality and at times, form as a basis of self-
expression. Hence, should a company market a brand name as
nothing more than “Just a name”; it would be missing the entire
purpose of product branding. The challenge lies in developing a
deep set of meanings for the brand. Once a target market segment
can visualize all six dimensions of the brand, it will have
established a strong rapport within the consumers’ purchase
decision-making process.

CHAPTER 2. LITERATURE REVIEW

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2.1 History of Branding
Brands in the field of marketing, originated in the 19th century with the
advent of packaged goods. Industrialization moved the production of
many household items, such as soap, from local communities to
centralized factories. These factories, generating mass-produced goods,
needed to sell their products in a wider market, to a customer base familiar
only with local goods. It quickly became apparent that a generic package
of soap had difficulty competing with familiar, local products.

Many brands of that era, such as Uncle Ben's rice and Kellogg's breakfast
cereal furnish illustrations of the problem. The manufacturers wanted their
products to appear and feel as familiar as the local farmers' produce. From
there, with the help of advertising, manufacturers quickly learned to
associate other kinds of brand values, such as youthfulness, fun or luxury,
with their products. This kick started the practice we now know as
"branding".

We tend to think of branding as a modern day phenomenon. Certainly,

during the late 1990s and the early 2000s, branding emerged as a
significant area of emphasis not only for companies and their products, but
also for municipalities, universities, other non-profit organizations and
even individuals. Branding became ubiquitous. Many of us also know that
Proctor & Gamble and other consumer product companies began branding
their products in earnest in the mid-to-late 1800s. But more interesting to
me is how far back in time branding goes. For instance, companies that
sold patented medicines and tobacco began branding their products as
early as the early 1800s. Around the same time, some fraternities and
sororities branded their pledges (literally) during initiation rites as a form
of identification and bonding, a practice that has long since been identified
as hazing and therefore abandoned.

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Branding in Today’s Markets
A central function of branding is the facilitation of the consumer choice
process. Due to the complexity of having to select a product amongst
thousands of similar offerings, consumers will instinctively attempt to
simplify their choice process by selecting brands that have satisfied them
in the past. Thus, one can conclude that pleasant past experiences is highly
conducive to consumers associating benefits to a brand. One can conclude
that a central function of branding is its ability to negate the need for a
consumer to seek out information when a need or a want has been
recognized, but rather, lead him to a brand that has been satisfying in the
past.

One must acknowledge however, that frequent purchasing of a brand

cannot always be linked to previous experiences, but can alternatively be
formed by embedded perceptions. A consumer might strongly favor a
brand with no prior purchasing experience. This type of consumer
behavior is based on stimulus provided by direct exposure to advertising
campaigns, a company’s PR efforts or even a high concentration of local
distribution in an area that is in close proximity to a consumer.

In terms of companies’ views on branding, it can induce the natural

differentiation of their offerings, which ultimately, will produce a state of
competitive advantage. Differentiation can only allow for competitive
advantage if the cost of differentiating is significantly lower than the
revenue earned by the sales. Differential advantage allows companies to
showcase their offer in respects to other competitors in the same
marketplace.

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 2.2 Importance of Branding

Principle of branding - A set of related products that are manufactured by

a company and are sold as a family of products under the marquee or
banner of a brand have a certain recognition and a place of respect within
that very market. Branding the product thus, is a means of creation of
identification and recognition in the market. It is not just a process of
getting a trademark and logo, but it is process of evolving as a well
reputed name on the market and field. A very well-known brand that has
become the identity of the market itself is the office equipment
manufacturer 'Xerox'. Though it is a company's name, the act of
photocopying is termed as 'Xeroxing'. The benefits of strong brands are
not limited to external business performance; the organization benefits as
well. People are naturally attracted to firms with strong brands, which
translates to a better pool of talent applying for positions.

Importance of Branding in Business

From the point of view of a business, the process of branding involves
making of a trademark and a good name. A registered trademark and a
name ensure individuality and uniqueness of a particular product or
family of products. The lawful registration of the trademark means that
any competitor cannot copy any of the elements and names of the
products. People can also have a personal brand. The primary advantage
of branding is that it is safeguarded from unlawful activities and at the
same time, it is also a way of developing a good reputation in the market.

Often you might see some new product carry the tag that says 'from the
makers of …brand', well this is another advantage of branding. When a
business who owns an already famous brand wants to launch a new brand
in the market, they can use the pre-earned goodwill and reputation for the
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new launch. The advantage is that, people are bound to purchase the new
products out of curiosity. There are multiple competitive advantages
associated with strong brands. First, clients are more willing to pay a
premium price for strong brands. Second, a strong brand simplifies client
choices. Once a client has purchased a brand, he/she will not need to go
through the entire decision-making process again, but instead will rely on
past experience to guide them. Strong brands will thus help to reinforce
clients’ decision to choose a firm and to stay with them over time.

Importance of Branding in Marketing

Marketing primarily involves the study of demand in a market and

creating a response in the form of supply. In the field of marketing, the
brand name plays an important role as it helps the people to promote the
brand name and its merits quite easily. A strong brand is invaluable as the
battle for customers intensifies day by day. It's important to spend time
investing in researching, defining, and building your brand. Branding is
strategic and marketing is tactical and what you use to get your brand
in front of consumers. That's why it carries a great deal of
importance within a business or organization as well. After all, your brand
is the source of a promise to your consumer. Apart from that, it also
becomes possible for the marketing people to generate intelligence
information about the brands popularity and also what people exactly want
from the brand owning company. As a result of a brand loyal group of
consumers, it also becomes easier for marketing department to asses
regular and promised demand. Apart from that, schemes such as free gifts
and discounts often boost the sales as the brand is an important icon of the
market.

2.3 What is Brand Strategy?

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 Brand strategy is a plan that encompasses specific, long-term goals that
can be achieved with the evolution of a successful brand -- the combined
components of your company's character that make it identifiable. A well-
defined and executed brand strategy affects all aspects of a business and is
directly connected to consumer needs, emotions, and competitive
environments.
First, let's clear up the biggest misconception about brand strategy: Brand
is not a product, a logo, a website, or a name. In fact, brand is much more
than that -- it's the stuff that feels intangible. But it's that hard-to-pin-down
feeling that separates powerhouse and mediocre brands from each other.
Seven essential components of a comprehensive brand strategy that will
help keep company around for ages.

7 Components for a Comprehensive Branding Strategy

1) Purpose
Every brand makes a promise. But in a marketplace in which consumer
confidence is low and budgetary vigilance is high, it’s not just making a
promise that separates one brand from another, but having a defining
purpose.
While understanding what your business promises necessary when
defining your brand is positioning, knowing why you wake up every day
and go to work carries more weight. In other words, your purpose is more
specific, in that it serves as a differentiator between you and your
competitors.
How can you define your business' purpose? According to Business
Strategy Insider, purpose can be viewed in two ways:

 Functional: This concept focuses on the evaluations of success in

terms of immediate and commercial reasons -- i.e. the purpose of the
business is to make money.
 Intentional: This concept focuses on success as it relates to the
ability to make money and do well in the world.

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While making money is important to almost every business, we admire
brands that emphasize their willingness to achieve more than just
profitability, like IKEA:

Source: IKEA
IKEA's vision isn't just to sell furniture, but rather, to "create a better
everyday life." This approach is appealing to potential customers, as it
demonstrates their commitment to providing value beyond the point of
sale.
When defining your business' purpose, keep this example in mind. While
making money is a priority, operating under that notion alone does little
to set your brand apart from others in your industry.
2) Consistency
The key to consistency is to avoid talking about things that don’t relate to
or enhance your brand. Added a new photo to your business' Facebook
Page? What does it mean for your company? Does it align with your
message, or was it just something funny that would, quite frankly,
confuse your audience?
In an effort to give your brand a platform to stand on, you need to be sure
that all of your messaging is cohesive. Ultimately, consistency
contributes to brand recognition, which fuels customer loyalty.

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To see a great example of consistency, let's look at Coca-Cola. As a result
of its commitment to consistency, every element of the brand's marketing
works harmoniously together. This has helped it become one of the
most recognizable brands in the world .
Even on the surface of its social media accounts, for example, the
seamlessness of its brand is very apparent:

To avoid leaving potential customers struggling to put the disconnected

pieces of your business together, consider the benefits of creating a style
guide. A style guide can encompass everything from the tone of voice
you'll use to the color scheme you'll employ to the way you'll position
certain products or services.

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3) Emotion
Customers aren't always rational.
How else do you explain the person who paid thousands of dollars more
for a Harley rather than buying another cheaper, equally well-made bike?
There was an emotional voice in there somewhere, whispering: “Buy a
Harley.”
But why?
Harley Davidson uses emotional branding by creating a community
around its brand. It began HOG -- Harley Owners Group -- to connect
their customers with their brand (and each other).

Source: HOG
By providing customers with an opportunity to feel like they're part of a
larger group that's more tight-knit than just a bunch of motorcycle riders,
Harley Davidson is able to position themselves as an obvious choice for
someone looking to purchase a bike.
4) Flexibility
In this fast-changing world, marketers must remain flexible to stay
relevant. On the plus side, this frees you to be creative with your
campaigns. While consistency aims to set the standard for your brand,
flexibility enables you to make adjustments that build interest and
distinguish your approach from that of your competition.

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A great example of this type of strategic balance comes from Old Spice.
These days, Old Spice is one of the best examples of successful
marketing across the board. However, up until recently, wearing Old
Spice was pretty much an unspoken requirement for dads everywhere.
Today, it's one of the most popular brands for men of all ages.

Aware that it needed to do something to secure its place in the

market, Old Spice teamed up with Wieden+Kennedy to position their
brand for a new customer base.

Source: Works Design Group

Between new commercials, a new website, new packaging, and new

product names, Old Spice managed to attract the attention of a new,
younger generation by making strategic enhancements to its already
strong brand. Take the opportunity to engage your followers in fresh, new
ways.

5) Employee Involvement
As we mentioned before, achieving a sense of consistency is important if
you wish to build brand recognition. And while a style guide can help you
achieve a cohesive digital experience, it's equally important for your
employees to be well versed in the how they should be communicating
with customers and representing the brand.

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6) Loyalty
If you already have people that love you, your company, and your brand,
don’t just sit there. Reward them for that love.
These customers have gone out their way to write about you, to tell their
friends about you, and to act as your brand ambassadors. Cultivating
loyalty from these people early on will yield more returning customers --
and more profit for your business.
Loyalty is a critical part of every brand strategy, especially if you're
looking to support your sales organization. At the end of the day,
highlighting a positive relationship between you and your existing
customers sets the tone for what potential customers can expect if they
choose to do business with you.

7) Competitive Awareness
Take the competition as a challenge to improve your own strategy and
create greater value in your overall brand. You are in the same business
and going after the same customers, so watch what they do. Tailor your
brand positioning based on their experience to better your company. And
while staying in tune with your competitor's strategies is important if you
want to enhance your brand, don't let them dictate each and every move
you make.
With the passage of time, successful companies grow and the number of
products handled by most companies also grows. These companies face
the question as to what kind of branding relationships these products will
have. The branding strategies that companies adopt reflect this
relationship. There is no best branding strategy and the choice is not easy.
Different companies adopt different strategies, and since there is no best
strategy for all types of products, a company may adopt different branding
strategies across its product mix. Companies enlarge their product mix by
either stretching existing product lines or adding new product lines, or
both. In these situations they either use existing brand names or use new
brand names, or some combination of company name and product brand
name.

[27]
The six branding strategies discussed here can be termed as generic
branding strategies, each having its own set of pros and cons.

Product Branding Strategies

This approach is driven by customer-orientation. The thinking focuses on
customer perception and information processing and the company believes
the most effective method to differentiate its offer in a customer’s mind is
to give the product an exclusive position and identity. What the brand
represents is clearly comprehended and internalized by its target market.
Placing several products under one brand name may cause confusion
among consumers. A successful branding program is based on the concept
of singularity. It creates in the mind of the prospect the perception that
there is no product on the market quite like your product.
This strategy focuses on promoting the brand exclusively so that it reflects
its own personality, identity, associations, and image. The brand does not
take on company associations and any benefits from its name.

Procter & Gamble is an ardent follower of product branding strategy in its

purest form. Hindustan Lever Ltd also largely follows product brand
strategy, but shows some shifts by leveraging established brand names into
areas outside its product category.

[28]
Line Branding Strategies
The term ‘line branding’ is altogether different than what product line
refers to in the context of product mix. Companies often have several
product lines in the product mix. For example, Gillette India has three
product lines: personal care, oral care, and alkaline batteries. In line
branding, products share a common concept. Line brands start with a
single product conveying a concept and later the brand name extends to
other complementary products. The core concept remains unchanged. For
example, the core concept of Denim brand is, “The man who doesn’t have
to try too hard.” All products sporting the Denim brand name share the
same concept. All products in line branding draw their identity from the
main brand.
Line branding strategy aims to satisfy customer’s complementary needs
that surround the core need. The company focuses on promoting only the
main brand concept that builds and reinforces all related items without
incurring much additional expenditures. The company can also extend
brand without much investment in promotion. The negative side is that
success and ease sometimes tempts a company to over extend and weaken
the brand.

Range Branding Strategies

This strategy seems to resemble line branding but is significantly different.
It is also called brand extension. Product categories are different but brand
name is the same, such as carrying the brand name Maggi is a range of
different products: noodles, sauce, soup, etc. The range represents the area
of expertise, which is fast food. In line branding, every product originates
from the “product concept.” Lakmé concept is “the source of radiant
beauty,” and all products surround this core product concept. Line
branding is restrictive to brand expansion into products that do not
surround this core product concept and complement each other in this
regard. In case of range branding, it is not the product concept but “the
area of expertise.” This strategy permits expanding into products that do
not complement each other. This means range branding covers many
different products under one brand banner. Promotional expenditures are
low because promoting one brand helps all products in the range.
However, the same brand name for too many products may lead to
overstretching, may confuse consumers and weaken the brand.

[29]
Umbrella Branding Strategies
In general, umbrella branding is favored among Eastern World companies
but is not exclusively confined only to this part of the world. Giants like
GE and Philips are examples of non-Eastern companies that use umbrella
branding. The approach is driven by economic considerations. The
company name itself is the brand name for all products across diverse
categories. Investment in building one brand proves far more economical
than investing in building several brands. The brand transfers the
advantages of brand awareness, its associations, and goodwill. Ever
increasing number of brands, and information overload makes it a very
difficult to get noticed. Consumers are more likely to take notice of
something familiar.
Apparently, umbrella branding appears to be flawless, but it has several
disadvantages. A major shortcoming with this approach is that it is not
customer or market focused. Cost advantage does not get translated into
better margins. It is a low-cost strategy but earnings are also low. Research
indicates that average profit of top Eastern companies adopting umbrella
branding is much lower as compared to top Western firms.

Double Branding Strategies

This approach combines umbrella branding and product branding. Along
with the product brand name, the company name is associated to create
double branding, such as Tata Indica and Bajaj Pulsar. Tata is the company
behind Indica car brand. Maruti also follows this strategy. Both names are
equally important and are given equal status in the brand’s communication.
Double branding serves two objectives. The product gains from the
company name awareness, expertise, and reputation. And Pulsar adds
some unique value of its own: “Definitely male.” This is customer focus
and the brand can communicate something in addition to what Bajaj name
stands for in customers’ perceptions and appeal to a new segment. The
product’s brand name helps differentiate the offer.
Double branding works as long as brands are consistent with expertise
domain of the company. Beyond this domain, the brand may become a
burden.

[30]
Endorsement Branding Strategies
This is a minor variation of double branding strategy. The product brand
name gains a dominant position, while the company name merits a lower
profile. The company name appears in smaller letters and takes a back
seat. The brand largely seeks to exist on its own. The company name is
mentioned to identify who owns it just by way of endorsement to the
product brand, such as Godrej Cinthol, or Nestlé Kit-Kat identify the
owners of these brands.
In case of double branding, the company name is an integral part with
equal status. Endorsement signifies assurance of quality by transferring
certain associations that increase consumers’ trust. The aim is not to pass
on the company’s expertise domain. Customers ask for Fair Glow, or
Chocos and not Godrej’s Fair Glow, or Kellogg’s Chocos. Company name
acts as a familiar signage to reassure consumers by communicating the
company’s associations and image.

2.4 Banking in India

Banking in India, in the modern sense, originated in the last decades of
the 18th century. Among the first banks were the Bank of Hindustan,
which was established in 1770 and liquidated in 1829–32; and the General
Bank of India, established in 1786 but failed in 1791.
The largest bank, and the oldest still in existence, is the State Bank of
India (S.B.I). It originated as the Bank of Calcutta in June 1806. In 1809, it

[31]
was renamed as the Bank of Bengal. This was one of the three banks
funded by a presidency government, the other two were the Bank of
Bombay in 1840 and the Bank of Madras in 1843. The three banks were
merged in 1921 to form the Imperial Bank of India, which upon India's
independence, became the State Bank of India in 1955. For many years the
presidency banks had acted as quasi-central banks, as did their successors,
until the Reserve Bank of India was established in 1935, under the Reserve
Bank of India Act, 1934.

In 1960, the State Banks of India was given control of eight state-
associated banks under the State Bank of India (Subsidiary Banks) Act,
1959. These are now called its associate banks.[6] In 1969 the Indian
government nationalized 14 major private banks, one of the big bank
was Bank of India. In 1980, 6 more private banks were nationalized. These
nationalized banks are the majority of lenders in the Indian economy. They
dominate the banking sector because of their large size and widespread
networks.

The Indian banking sector is broadly classified into scheduled and non-
scheduled banks. The scheduled banks are those included under the 2nd
Schedule of the Reserve Bank of India Act, 1934. The scheduled banks are
further classified into: nationalized banks; State Bank of India and its
associates; Regional Rural Banks (RRBs); foreign banks; and other Indian
private sector banks. The term commercial banks refers to both scheduled
and non-scheduled commercial banks regulated under the Banking
Regulation Act, 1949.

Generally banking in India is fairly mature in terms of supply, product

range and reach-even though reach in rural India and to the poor still
remains a challenge. The government has developed initiatives to address
this through the State Bank of India expanding its branch network and
through the National Bank for Agriculture and Rural Development
(NABARD) with facilities like microfinance.

[32]
Current period
The Indian banking sector is broadly classified into scheduled banks and
non-scheduled banks. All banks included in the Second Schedule to the
Reserve Bank of India Act, 1934 are Scheduled Banks. These banks
comprise Scheduled Commercial Banks and Scheduled Co-operative
Banks. Scheduled Co-operative Banks consist of Scheduled State Co-
operative Banks and Scheduled Urban Cooperative Banks. Scheduled
Commercial Banks in India are categorised into five different groups
according to their ownership and/or nature of operation:

 State Bank of India and its Associates

 Nationalized Banks

 Private Sector Banks

 Foreign Banks

 Regional Rural Banks.

In the bank group-wise classification, IDBI Bank Ltd. is included in the
category of other public sector bank.

Payments Bank
Payments bank is a new model of banks conceptualised by the Reserve
Bank of India (RBI). These banks can accept a restricted deposit, which is
currently limited to ₹1 lakh per customer and may be increased further.
These banks cannot issue loans and credit cards. Both current account and
savings accounts can be operated by such banks. Payments banks can issue
services like ATM cards, debit cards, net-banking and mobile-banking. The
banks will be licensed as payments banks under Section 22 of the Banking
Regulation Act, 1949, and will be registered as public limited
company under the Companies Act, 2013.
Indigenous Banking
The exact date of existence of indigenous bank is not known. But, it is
certain that the old banking system has been functioning for centuries.
Some people trace the presence of indigenous banks to the Vedic times of

[33]
2000-1400 BC. It has admirably fulfilled the needs of the country in the
past.

However, with the coming of the British, its decline started. Despite the
fast growth of modern commercial banks, however, the indigenous banks
continue to hold a prominent position in the Indian money market even in
the present times. It includes Shroff’s, seths, Mahajan’s, chettis, etc. The
indigenous bankers lend money; act as money changers and finance
internal trade of India by means of hundis or internal bills of exchange.

The main defects of indigenous banking are:

ADVERTISEMENTS:

(i) They are unorganised and do not have any contact with other sections
of the banking world.

(ii) They combine banking with trading and commission business and thus
have introduced trade risks into their banking business.

(iii) They do not distinguish between short term and long term finance and
also between the purpose of finance.

(iv) They follow vernacular methods of keeping accounts. They do not

give receipts in most cases and interest which they charge is out of
proportion to the rate of interest charged by other banking institutions in
the country.

Suggestions for Improvements:

(i) The banking practices need to be upgraded.

(ii) Encouraging them to avail of certain facilities from the banking

system, including the RBI.

(iii) These banks should be linked with commercial banks on the basis of
certain understanding in the respect of interest charged from the
borrowers, the verification of the same by the commercial banks and the
passing of the concessions to the priority sectors etc.

[34]
Structure of Organised Indian Banking System:
The organised banking system in India can be classified as given
below:

Reserve Bank of India (RBI):

The country had no central bank prior to the establishment of the RBI. The
RBI is the supreme monetary and banking authority in the country and
controls the banking system in India. It is called the Reserve Bank’ as it
keeps the reserves of all commercial banks.

Commercial Banks:
Commercial banks mobilise savings of general public and make them
available to large and small industrial and trading units mainly for working
capital requirements.

Commercial banks in India are largely Indian-public sector and private

sector with a few foreign banks. The public sector banks account for more
than 92 percent of the entire banking business in India—occupying a
dominant position in the commercial banking. The State Bank of India and

[35]
its 7 associate banks along with another 19 banks are the public sector
banks.

Scheduled and Non-Scheduled Banks:

The scheduled banks are those which are enshrined in the second schedule
of the RBI Act, 1934. These banks have a paid-up capital and reserves of
an aggregate value of not less than Rs. 5 lakhs, hey have to satisfy the RBI
that their affairs are carried out in the interest of their depositors.

All commercial banks (Indian and foreign), regional rural banks, and state
cooperative banks are scheduled banks. Non- scheduled banks are those
which are not included in the second schedule of the RBI Act, 1934. At
present these are only three such banks in the country.

Regional Rural Banks:

The Regional Rural Banks (RRBs) the newest form of banks, came into
existence in the middle of 1970s (sponsored by individual nationalised
commercial banks) with the objective of developing rural economy by
providing credit and deposit facilities for agriculture and other productive
activities of all kinds in rural areas.

The emphasis is on providing such facilities to small and marginal farmers,

agricultural labourers, rural artisans and other small entrepreneurs in rural
areas.

Other special features of these banks are:

(i) their area of operation is limited to a specified region, comprising one
or more districts in any state; (ii) their lending rates cannot be higher than
the prevailing lending rates of cooperative credit societies in any particular
state; (iii) the paid-up capital of each rural bank is Rs. 25 lakh, 50 percent
of which has been contributed by the Central Government, 15 percent by
State Government and 35 percent by sponsoring public sector commercial
banks which are also responsible for actual setting up of the RRBs.

These banks are helped by higher-level agencies: the sponsoring banks

lend them funds and advise and train their senior staff, the NABARD
(National Bank for Agriculture and Rural Development) gives them short-
term and medium, term loans: the RBI has kept CRR (Cash Reserve

[36]
Requirements) of them at 3% and SLR (Statutory Liquidity Requirement)
at 25% of their total net liabilities, whereas for other commercial banks the
required minimum ratios have been varied over time.

Cooperative Banks:

Cooperative banks are so-called because they are organised under the
provisions of the Cooperative Credit Societies Act of the states. The major
beneficiary of the Cooperative Banking is the agricultural sector in
particular and the rural sector in general.

The cooperative credit institutions operating in the country are mainly of

two kinds: agricultural (dominant) and non-agricultural. There are two
separate cooperative agencies for the provision of agricultural credit: one
for short and medium-term credit, and the other for long-term credit. The
former has three tier and federal structure.

At the apex is the State Co-operative Bank (SCB) (cooperation being a

state subject in India), at the intermediate (district) level are the Central
Cooperative Banks (CCBs) and at the village level are Primary
Agricultural Credit Societies (PACs).

Long-term agriculture credit is provided by the Land Development Banks.

The funds of the RBI meant for the agriculture sector actually pass through
SCBs and CCBs. Originally based in rural sector, the cooperative credit
movement has now spread to urban areas also and there are many urban
cooperative banks coming under SCBs.

[37]
2.5 State Bank of India (SBI) (strategies)
State Bank of India, is India’s one of the biggest PUBLIC SECTOR
BANK in terms of market capitalization (in PSB Category), with its
Headquarters in Mumbai Maharashtra. Earlier it’s used to be known as
a “Imperial Bank of India”. Later on 1st July 1955, GOI renamed it as
a “STATE BANK OF INDIA”. In 1959, State Bank of India (Subsidiary
Banks) Act was passed by the government of India and Eight Subsidiary
banks which was earlier belong to Princely States merged with it. These
are now known as SBI Associates Bank.

The Employee base of SBI is largest among Public Sector Banks. It has a
international branches also in more than 36 countries.

The logo of SBI is a blue circle with a small key hole, which reflect a
small man or common man. It has devised various slogan as the time
changes these are “WITH YOU – ALL THE WAY”, “THE BANKER TO
EVERY INDIAN”, “THE NATION BANKS ON US” “PURE BANKING,
NOTHING ELSE”, “A BANK OF THE COMMON MAN”,

Business Objectives

In today’s World Banking sector is changing day by day, the competition

from the other peers, Changing Technical Scenarios and a race to capture
market compel financial institutions to choose digital platforms to cater
various customers in Real Time, SBI is not out of that. SBI is also
carrying Various DIGITAL Campaigns (Or say Digital Marketing
Strategies) to achieve following objectives.

 To promote as well as create awareness among existing customers

and future customers of their various Financial Products.

 To educate customers about handling of various banking services

through their dedicated learning centers.

 To reach large customer base in a very Cheap Way and that to 24 X 7

Basis.

[38]
Strategies Adopted

1. Already Existing Website is updated with a latest trends to cater

the different demands of N Number of Customers.

2. Social sites platforms were rightly used by following methods

 Facebook Newsfeed ad.

 Video Content on You Tube like SBI tutorial videos.

 Participated in various discussion forum on Twitter or Promoted

Tweets examples are #DidYouKnow, #PledgeForParity,
#InOurHands, #FinanceGyaan, #SafeBankingTip

[39]
[40]
 Various social & festival Events are used to promote SBI Brand.

 LinkedIn premium Display ads, Instagram , Pinterest are used to

promote products.

3. Various App were developed to cater specific demand of customers.

Examples are Any Where Banking app, SBI Buddy app, SBI Mobile
Banking app, State Bank Freedom, State Bank Samadhan app etc.

4. Green Pin Initiative by promoting paperless banking through alternative

channels (specifically Digital Channels).

5. Digital Branches like SBI INTOUCH launched.

[41]
6. SBI tech learning Centers (TLCs), where customers will come to know
what is the propriety of various digital platforms of a bank and how it is
beneficial in a day to day operation/working.

Result of Digital Marketing

 Because of this Digital Platform, today the accessibility of various

banking services of SBI becomes easy or we can say services are
easily accessible at the touch of customer’s fingertip through their
Smartphone.

 Technological up gradation, Customer Education Initiative, Specific

Demand Centric App, & Virtual Platforms brings operational cost at
its low.

 Customer base increased due to anywhere & anytime accessibility

of Banking Services.

 It helps a lot to enhance credibility among larger customer base, as

well as Brand reputation.

 Online feedback and grievance redressal system helps to improve the

operational functionality of SBI.

Learnings

Though SBI is one of the oldest bank with very large portfolio. Like other
financial institutions it’s not always sticks to old age practice
of advertisement. In fact it promotes disruptive innovation in the field of
advertisement with the help of their dedicated I.T. Team. Digital
Marketing is one of that. Digital platform is the cheapest way to

[42]
reach customer base. Real time services which was a dream of past is now
becomes reality with the help of it. Without jumping in the Digital
Platform it would have been difficult for any financial institution to cater
various type of client base 24 x 7.

SBI to rework global corporate branding strategy

152

The fact that a company is a behemoth at home doesn’t assure it brand

recall abroad. Keeping this in mind, State Bank of India (SBI), India’s
largest lender, is reworking its corporate branding strategy for international
markets. It is set to rope in an advisory firm to help prepare a blueprint to
improve visibility and brand recognition abroad SBI is seeking to reach
out to companies in various countries. Its key markets include the US,
Europe, Asia and South Africa.A senior SBI executive said though the
bank was present in 34 countries, this wasn’t enough to expand its
business abroad. SBI didn’t have a uniform brand image abroad, vis-à-vis
international competitors, he added. There was no coordinated effort to
build SBI as a brand in foreign markets. SBI plans to appoint a consultant
to help it develop media plans for an international corporate branding and
publicity campaign. The campaign would be launched in phases in
countries where SBI has a presence.
Substantial gains are anticipated from the proposed branding and publicity
blitz. The bank’s international assets increased 13.3 per cent to Rs 1,86

[43]
lakh crore in the year ended June. Total income rose 2.2 per cent to Rs
1,942 crore.SBI’s net profit from global operations took a hit, owing to
huge provisions for depreciation in the value of securities. Net profit dived
to Rs 10 crore in the quarter ended June from Rs 564 crore in the year-ago
period
2.6 Bank Brand Image & Branding
Brand image is the current view of the customers about a brand. The
impressions consumers have of a company extend well beyond the product
or service the firm provides. For banks today, the strength and marketing
power of an institution’s brand is rapidly becoming one of the critical
levers for differentiation and success. Brands have become one of the most
discussed phenomena of market research in recent years. Branding,
therefore, has become a very significant concept in just about all
organizations. However, its emphasis is more in the private sector than
public due to the nature and levels of competition. Branding has been
around for centuries as a means to distinguish the goods of one producer
from those of another (Kotler, 2001). Branding has become one of the
most important aspects of business strategy yet it is also one of the most
misunderstood.

In the competitive market, branding is a valuable intangible asset of a

company. Branding plays an important role because positive brands will
enable customers to better visualize and understand products, reduce
customers’ perceived risks in buying services (Kim et al.,2008), and help
companies achieve sustained superior performance. In particular, brand
image is a critical issue in the field of brand management. A good and
effective brand normally has attributes which endure them to their loyal
customers. According to Keller (2003a) banks have understood the key to
what makes them different: the relationship that develop between a
customer and a banker under the support of the brand. A good brand name
is critical in the financial services industry. It is important in the financial
sector as it helps organize and label the myriad of new offerings in a
manner that consumers can understand (Keller, 2003b). Banks rely heavily
on their reputation. After all, banking only works if the consumer is
willing to trust the bank company with large sums of money. Branding is
[44]
particularly important to the financial sector in the current economy, since
investors and other big spenders are being cautious about making large
financial transactions. Structurally, bank brands are handicapped in that
they cannot be illustrated. For banks today, the strength and marketing
power of an institution’s brand is rapidly becoming one of the critical
levers for differentiation and success. Banks need to provide a consistent
brand experience to prevent customers from switching to rival banks.
Hence, the field of bank service is now emphasizing the importance of
customer-oriented marketing. Banks endeavor to establish marketing
strategies which promote brand image among customers for enhancing the
satisfaction and loyalty of customers as well as further promoting
performance. Although bank brand image is becoming an increasingly
important issue in the competitive banking industry few studies are
available in this field.

[45]
2.7 The importance of brand image in the perceptions
towards bank sector
Brand image is important for customers in the banking sector, similar to
any sector in terms of creating trust and confidence. In this sector people
will never invest their money in a bank of which they have never heard.

Brand image is viewed as an important factor in the service evaluation.

There is ample evidence that image significantly affects customers’
evaluative judgments such as perceptions of quality. Moreover, Bloemer et
al. (1998) investigated the image related issues in banks and pointed out
that a positive brand image of a bank significantly improves perceived
service quality Banks serve a variety of clients with differing needs, which
in turn makes it difficult to build a brand that is relevant to all groups.
Some comments from these individuals (customers) appear in the
following:

“A bank should become a brand because, under that brand image, trust and
love stands.”

“Banks should create a successful and reliable brand image in the mind of
their customers and, if they cannot sustain it with the service that they
provide, they will collapse.”

“The name and popularity of the bank is important because if I do not

know its name, I will not invest my money in there”.

“In terms of confidence and trust, brand image is very important in the
bank sector.”

“Brand is important in every sector but, for banks since we are investing
our money, we need to be able to trust them.”

[46]
2.8 Brand management challenges in financial
services
While there are so many business benefits associated with brands, it is
interesting that so few financial services firms commit to actively and
consistently managing their brands. In general, brand management poses
several challenges in financial services:
• Brand management is a relatively new concept for the industry
• Brand relevance is difficult to maintain with so many client types
• The similarity of product offerings makes differentiation more difficult
• The client/advisor relationship, often the key to the industry, is hard to
control
• Industry trends have made brand positioning more complex.

In addition to the challenge of the novelty of brand management, a firm

faces the challenge of staying relevant to its many different types of clients
in the financial services world. Banks serve a variety of clients with
differing needs, which in turn makes it difficult to build a brand that is
relevant to all groups.
However, financial services firms can transform this challenge into an
opportunity to tailor a more comprehensive group of products/services to a
specified client type. For example, the individual wealth management
client not only benefits from the standard equity investments, IRA
(Investment Retirement Account) and ISA (Investment Savings Account)
accounts, but also can take advantage of foreign exchange services and
innovative products like equity linked securities that were once solely the
domain of business clients.

Another difficulty that financial services firms face in brand management

is the similarity of product offerings from firm to firm. Product
innovations in financial services are short-lived since it is relatively easy
to copy new product offerings. The result is that financial firms must find
other aspects of their business, such as the client/advisor relationship, as a
means to differentiate from the competition.
[47]
CHAPTER 3. RESEARCH METHODOLOGY

3.1 Introduction
In order to understand the methodology that will be used to compile this
Project, this is included in order to clarify how an effective
methodological philosophy can contribute the successful production of a
un-bias and critically Project, as well as comprehend the process
underwent to reach the pertinent conclusion.

This chapter also serves the purpose of justifying and authenticating the
research procedures that will be employed in order meet the set
objectives and answers the main research question of this Project.

3.2 Research Approach

3.2.1Secondary Data
• Articles in Newspapers, Magazines and Internet

• Study Reports from Internet

• Desk Research under the guidance of my guide
3.2.2 Primary Data
• Consumer Survey on the effect of brands on their buying behavior
3.2.3 Data analysis technique
Exploratory research, descriptive research, accomplishment of research
objective
3.2.4 Data Collection Tools
• Questionnaire Survey
• Books
• Internet
3.2.5 Sample Size- 100

[48]
 Chapter 4- DATA INTERPRETATION

Chart-1
From the data it can be concluded that most of the people who were
interviewed were in the age group of 20 to 40 years, this was done with the
intention of understanding how a young mind set works when it comes to
banking industry how it perceives the bank’s policies. We also included a
certain percentage of people who were in the age group of 50 years and
above to understand what their experience says when it comes to banking
as they must have dealt with the banks more than anyone else.

Chart 2
From the pie chart it is visible that most of the people who responded were
men, though we tried to keep this ratio as close as possible but the issue
came in the age group of 50 years and above where most of the people we
met were males and not females, However in the age group of 20-40 years
the ratio was almost 1:1

Chart-3
Since most of our respondents were young working professionals, hence
the major income group was 3 lakhs to 13 lakhs forming nearly 80% of the
total respondents. In that also almost 50 % of the total sample is earning
between 3-8 lakhs per annum.

Chart-04
From the pie chart it is evident that maximum people are brand conscious,
and this is mainly because of the increasing competition among different
brands. Also it takes few important factors to develop yourself as a good
brand. Good marketing, advertisement strategies service delivery and
discount offers are the factors that attracts customers and help organization
to build into a good brand. Hence it is important to earn a good brand
name as most of the people are conscious about it.

[49]
Chart-5
From the pie chart is clear that to most of the respondents brand name is
associated with the product and thus they believe that product helps them
to identify the brands which is in their mind. Apart from this, service
delivery of a particular product also helps to remember the brand name
and the product name.

Chart-6
The pie chart clearly shows that people are concerned about the brand and
the market image of their banks and thus banks need to make a good brand
of their own in order to capitalize on the customers. Brand conscious
people are very critical about the services and they can change their bank
if not properly taken care of.

Chart-7
The pie chart gives us a good insight of how brand image of the bank helps
the customers and most of the people were of the opinion that it helps
them create trust and rely on the bank while others were of the opinion that
it gives them confidence to invest in the bank and its funds.

Chart-8
The above pie chart is important more from the bank’s point of view as it
tells us the major factors required to make a good brand image according
to the customers. It clearly depicts that people give priority to quality and
how that is being given to them, i.e. they believe that marketing strategies
and quality of services provided by the bank are the two major factors
required to create a good brand image. Also offers, discounts and other
value added services are to but they do no compromise with the quality.

[50]
Chart-9
The pie chart clearly depicts that when asked from the customers what
motivates them to select a particular bank than the major came out was the
‘word of mouth’. It shows that better the services of the bank, better the
chances of increasing sales and attracting new clients because word of
mouth results are stronger than any other marketing strategy and hence
banks need to make sure about the quality they are delivering.

Chart-10
This pie chart is the most equally divided one amongst all the pie charts as
we asked the respondents to identify the banks with their logos, we got a
mixed response, few of the young respondents were able to identify the
banks however many female respondents and people from the age group of
50+ got confused and were of the opinion that they are able to connect
more with the banks with the help of the taglines

Chart-11
The pie chart tells us that people these days mostly the young generation is
ready to switch their banks if they get better services and offers, this
response also goes in line with the response where customers mostly
agreed that they are brand conscious. Also we have seen that our
respondents being young and open to investment are looking for the
quality products and services hence, it is no wonder that they are open to
switch to different brands and explore new options.

[51]
 Findings and Conclusion
The banking sector is the lifeline of any modern economy. It is one of the
important pillars of the financial system, which plays a vital role in the
success/failure of an economy. Banks are one of the oldest financial
intermediaries in the financial system. They play an important role in
mobilization of deposits and disbursement of credit to various sectors of
the economy. The banking sector is dominant in India as it accounts for
more than half the assets of the financial sector.
In the competitive market, branding is a valuable intangible asset of a
company. Branding plays an important role because positive brands will
enable customers to better visualize and understand products, reduce
customers’ perceived risks in buying services, and help companies achieve
sustained superior performance. In particular, brand image is a critical
issue in the field of brand management.

It can be thus concluded that people these days mostly the young
generation is ready to switch their banks if they get better services and
offers, this response also goes in line with the response where customers
mostly agreed that they are brand conscious. One of the major findings of
the study is that better the services of the bank, better the chances of
increasing sales and attracting new clients because word of mouth results
are stronger than any other marketing strategy and hence banks need to
make sure about the quality they are delivering.

Good marketing, advertisement strategies, customer selection, strategy

implementation, service delivery and discount offers are the key factors
that attracts customers and help organization to build into a good brand
and thus the focus should be more on the implementation part which is
done on the field.

[52]
 Recommendations

 Banks need a unified view of their customer’s interactions, but many

banks follow a monotonous approach which makes it nearly
impossible to keep a track of customer’s journey.
 Banks need to focus resources and attention on the online resources
and they need to connect those experiences with customer
interactions in their branches.
 Banks must be diligent and work harder to maintain personal
relationships with their customers an effective segmentation strategy
is a critical component in this strategy.
 A well designed mobile communications platform will send
proactive notifications such as reminders and status updates and thus
this mobile app platform should be used skillfully

[53]
 Bibliography

Books
1. Author 1
Marketing Essentials- Book by Philip Kotler

2. Author 2
The Brand Gap by Marty Neumeier

3. Author3
What Great Brands Do by Denise Lee Yohn

Websites
1. http://www.business-standard.com
2. http://benchmark.metricmarketing.com
3. https://en.wikipedia.org/wiki/Banking_in_India
4. http://www.sbi.co.in/

[54]