Consumer Behavior

Final Report

GROUP MEMBERS:
Aisha Shaikh
Maryam Siddiqui
Umme Farwa Fatima
Muhammad Abdullah Habib
Muhammad Usman Khan

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 ACKNOWLEDGMENT
Our thanks go to Allah, the Merciful and the Beneficent, for granting us the
strength, perseverance, and determination to accomplish this task. Additionally, we
wish to extend our sincere appreciation to our Consumer Behavior instructor, Miss
Yamna Khan, who supervised the development of this report and provided us with
guidance, inspiration, and encouragement along the way. Furthermore, we would
like to acknowledge Omair Zeeshan (Head, Digital Marketing) for spearheading this
report and accommodating our schedules amidst his busy schedule. He offered
valuable assistance, facilitated the process, and provided comprehensive answers
to our inquiries.
The card of Mr. Omair Zeeshan is attached is follows:

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 TABLE OF CONTENTS

SECTION A – INDUSTRY REVIEW...............................................................................................................................7

A.1 MARKETING MIX ......................................................................................................................................................
A.2 MARKET SIZE ...........................................................................................................................................................
A.3 MARKET STRUCTURE .............................................................................................................................................
SECTION B – TARGET AUDIENCE ...........................................................................................................................10
B.1 TYPE OF SEGMENTATION USED ...........................................................................................................................
SECTION C – BRANDING OF THE COMPANY .........................................................................................................12
C.1 BRAND IDENTITY.....................................................................................................................................................
C.2 BRAND POSITIONING .............................................................................................................................................
C.3 DOES THE COMPANY’S BRANDING FULFIL THE BRANDING CRITERIA? ..........................................................
C.4 WEBSITE AND SOCIAL MEDIA PAGES ...................................................................................................................
SECTION D – MARKETING PLAN .............................................................................................................................19
SECTION E – CONSUMER ANALYSIS ......................................................................................................................24
E.1 NEEDS WANTS AND DEMANDS .............................................................................................................................
E.2 TRENDS IN THE MARKET .......................................................................................................................................
E.3 MOTIVATION OF CONSUMERS BEHIND USAGE...................................................................................................
E.4 CONSUMER PERCEPTION OF THE BRAND ..........................................................................................................
E.5 BRAND PERSONALITY ............................................................................................................................................
SECTION F – COMPETITOR ANALYSIS ...................................................................................................................29
F.1 DIRECT/INDIRECT COMPETITOR ...........................................................................................................................
F.2 FAISAL’S BANK COMPETITORS ANALYSIS ............................................................................................................
SECTION G – CONTRIBUTIONS ...................................................................................................................................
SECTION H – REFERENCES .........................................................................................................................................
SECTION I – APPENDIX .................................................................................................................................................

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 ABSTRACT
This report delves into the details of Faysal Bank, one of the leading banking
institutions in Pakistan, and provides an in-depth analysis of the company's
marketing strategies. The report covers various aspects of the industry, including
the marketing mix, market size, and market structure, while also examining the
target audience and the type of segmentation used in the bank's marketing
strategies.
The report provides a comprehensive understanding of the company's branding
efforts, including its brand identity, brand positioning, and how well it meets
branding criteria. The bank's website and social media pages are also analyzed,
along with any offers or deals that the company may be running. Furthermore,
the report explores the effectiveness of the communication mediums used in the
company's marketing plan.
Consumer analysis is a key aspect of the report, and it covers various factors such
as consumer needs, wants, and demands, along with trends in the market. The
report also discusses consumer motivations behind using the bank's products and
services, as well as their perceptions of the brand and its personality.
Lastly, the report provides a thorough competitor analysis, examining both direct
and indirect competitors in the industry. The report highlights the key differences
between Faysal Bank and its competitors, analyzing their strengths and
weaknesses.
Overall, this report is a valuable resource for anyone looking to gain a better
understanding of the marketing strategies employed by Faysal Bank, one of the
leading banking institutions in Pakistan. The detailed analysis presented in this
report provides key insights into the banking industry and the factors that
influence customer behavior, helping businesses to make informed decisions
when it comes to their own marketing strategies.

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 Company Profile
Faysal Bank Limited is a commercial bank in Pakistan with its headquarters in
Karachi. It was founded in 1994 and is listed on the Pakistan Stock Exchange. The
bank has a network of over 400 branches in more than 200 cities across Pakistan,
and it also has a presence in Afghanistan, Bahrain, and Dubai. Faysal Bank is
known for its focus on social responsibility and ethical business practices, and it
has received several awards for its banking services and community involvement.
Products or Services Provided by the Company:
Faysal Bank provides a range of banking products and services, including retail
banking, corporate banking, and Islamic banking. Some of its main products and
services include:
Savings Accounts and Current Accounts:
Faysal Bank offers a range of savings accounts and current accounts for
individuals and businesses. These accounts come with features such as free online
banking, mobile banking, and SMS alerts.
Financing Facilities:
Faysal Bank provides a range of financing solutions for individuals and businesses,
including personal loans, home financing, car financing, and working capital
finance.
Investment Solutions:
Faysal Bank offers a range of investment solutions, including fixed deposit
accounts, term deposit certificates, and mutual funds.
Credit Cards:
Faysal Bank offers a range of credit cards with features such as cashback rewards,
discounts on dining and shopping, and travel benefits.
Core Competency of the Company:
Faysal Bank's core competency lies in its focus on social responsibility, ethical
business practices, and customer-centricity. The bank has a strong commitment
to giving back to the community, and it has launched several initiatives to support

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education, healthcare, and social welfare in Pakistan. Faysal Bank is also known
for its innovative banking solutions, such as its mobile banking app and online
banking platform, which make banking more convenient and accessible for its
customers. Finally, Faysal Bank's focus on Shariah-compliant banking has made it
a leader in the Islamic banking sector in Pakistan, with a range of Shariah-
compliant products and services that cater to the needs of Muslim customers.

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Industry Review
In a world of mass personalization, banks are getting quite good at convincing their
customers they know them. Different technologies have been implemented in the
banking sector after covid to make transactions and processes more seamless. The
banks are becoming more customer-centric rather than only focusing on their
respective products and services. Many banks over the past year have started
different online activities and increased their product and service portfolio. With
each bank increasing its portfolio customers have a vast variety of options which is
why banks have become more personalized in understanding individual customers
and fulfilling all their requirements. However, due to the current economic
situation, many banks are cutting down their unnecessary and costly services. The
banks have increased their focus on international transactions as over the past year
many Pakistanis have moved abroad leaving their families behind to serve that
market banks are focused on remittances and other similar services. Digitization is
going to overtake the banking sector in the coming years and banks are now more
focused on marketing their digital platforms rather than other services to bring
more customers towards the digital services.

Marketing Mix:
Product: Faysal Bank offers a diverse range of Shariah-compliant banking products
and services that are tailored to different customer segments which include;

 Personal Banking:
Faysal Bank provides several personal banking services which include call
deposit receipts, Financial inclusion of persons with disabilities
 Business Banking:
Faysal bank caters to small, medium or large businesses, they offer a vast
range of Shariah compliant solutions for businesses.
 Wealth Management:
They offer a diverse range of Takaful solutions which include Takaful and
Investment Plans, Health Takaful, life takaful and general takaful. This helps
people make sure their family is financially secure.
 e-banking:

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 To make it easier for their customers, Faysal bank provides online banking
services to make their services easily accessible for their users.

Promotion: Faysal bank focuses on its marketing strategies to attain and retain
customers, over the years Faysal bank has grown it’s marketing by showing their
presence on different print and digital platform, also Faysal Bank sponsors different
events to market their values and services. Faysal Bank also considers partnering
with other businesses and organizations to expand its reach. Over the years Faysal
Bank has also participated in several CSR activities to show their contribution
towards the society.
Price: Faysal Bank has competitive prices, they offer reasonable prices for their
services ensuring all customers are aware of the prices associated with them. Faysal
Bank also offers promotions and discounts to attract and retain customers.
Place: With banking becoming more seamless most banks are focusing on taking
things online to offer convenient banking to customers. Faysal Bank over the years
has developed several branches across Pakistan and still continues to increase its
reach and network in strategic locations.
Process: Faysal Bank focuses on streamlining its banking processes to make them
more user-friendly. They are investing in technology to make online banking more
convenient for users. User can easily access their account through their cell phones
and perform the majority of their transactions and processes through their phones.

Physical Evidence: They make sure their physical branches and offices are designed
to provide a positive customer experience, This includes investing in comfortable
waiting areas, clear signage, and modern technology such as digital displays.

Staffing: Faysal Bank invests in employee training and development programs to

ensure the quality of services is maintained according to the customers’
expectations. They also focus on hiring people with the same values and skilled in
Shariah-compliant banking practices.

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Market Size:
Over the past few years, the market size of the Banking sector has grown. According
to the state bank of Pakistan as of Dec 2021, total assets of the banking sector were
27.5 Trillion and this is constantly growing. The 5 largest banks that account for
over 60% of the banking sector are National Bank, HBL, UBL, MCB, and Allied Bank
and other banks contribute in the remaining 40% of the market.
According to the State Bank of Pakistan, Faysal Bank as of 2021 had total assets of
PKR 609.7 Billion and also considering the profits and the customer base Faysal
Bank is one of the medium-sized Banks which is constantly expanding over the
years but only accounts to a small share of 2.2% of the total assets of banking
industry.
In the Future by focusing on innovation and digitalization Faysal Bank can increase
its market share, making its services better than its competitors and focusing on its
main target audience rather than solely focusing on its product and service
enhancement it should focus on what the customers need and what people are
looking for in their preferred banks, Faysal bank attain and retain customers.

Market Structure:
The Banking sector of Pakistan is highly competitive, it consists of several players
that are offering a large number of different products and services all over Pakistan.
Then there are banks that are moving towards Islamic banking and this market is
constantly growing over the years. Over the year due to the shift in the customer
base of the Banking sector, the market structure is changing constantly over the
period. Banks have shifted towards digital banking services which has increased the
number of players in the market.
As customer preferences are changing the market structure of the banking sector
is also changing. Customers’ preference for Islamic Banking has also brought in new
players and the rebranding of different banks which include Meezan Bank, Faysal
Bank Bank Islami and so many other banks, these banks offer new services and
focus on what consumers prefer rather than restricted to what is profitable for
them only.

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Also, consumer’s attitude toward social responsibility has also impacted the
market structure of the banking industry. The majority of customers prefer and
support Banks that give priority to social and ethical practices, many banks like
HBL, Faysal Bank, Bank AL Falah, Meezan Bank, etc constantly take part in CSR
activities working with Hospitals, NGOs, and education centers to contribute
towards Pakistani society to emotionally and religiously connect with its
consumers.

TARGET AUDIENCE:

Segmentation (STP):
Faysal Bank segments its customers on the basis of various factors, including
demographics (age, gender, income), geographics i.e., location, psychographic
characteristics (lifestyle, values, beliefs), and behavior (spending patterns, usage of
banking services).
Faysal Bank uses different types of segmentation strategies, such as:

Demographic segmentation:
Faysal Bank segments its customers based on their age (Millennials, Generation X,
Baby Boomers), gender (men and women), income (high income and middle-
income individuals), education (Matric and above) and other demographic factors.
Faysal bank also segments customers on the basis of their employment status i.e.,
employed individuals, students and unemployed individuals as well, the ratio of
employed individuals using Faysal bank’s services is higher than others.

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By doing segmentation based on demographic factors, Faysal bank caters to needs
and preferences of each group in a better way. They also provide their services to
business segments like retail, small and medium enterprises and agriculture
segment.
Geographic segmentation:
Faysal Bank segments its customers based on their geographic location, such as
urban vs. rural areas, and different regions within Pakistan. They mostly target
cities all over in Pakistan as they have more than 700 operational branches all
across the country.
Psychographic segmentation:
Faysal Bank segments its customers based on their values, beliefs, lifestyle, and
personality traits.
A person is more likely to use Faysal bank’s services if his/her family member has
good experience with the bank. Faysal bank also targets its customers on the basis
of social status i.e., middle class, upper middle class and high-class individuals.
Moreover, Faysal bank also segments customers on the basis of religious beliefs as
they provide Islamic banking services which align best with Islamic values and
beliefs.
Behavioral segmentation:
Faysal Bank segments its customers based on their usage behavior and patterns,
such as frequent users of digital banking services, Noor card users, or those who
use specific products and services more often. They also segment customers based
on their brand loyalty as to how long they have been using Faysal bank’s services.
They also target customers on the basis of engagement factor i.e., the customers
who are more interactive with the bank on social media platforms and the ones
who attend events hosted by Faysal bank.
Targeting:
Faysal bank pursues the chosen segments to target customers. Based on
demographics, Faysal bank targets customers according to their age, income,
employment status and education. Based on geographics, they mostly target
customers living in cities all over Pakistan. Based on psychographics, they target

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customers on the basis of their religious beliefs, values, lifestyle and social status.
Based on behavior, Faysal bank targets customers according to their usage
behavior, patterns and brand loyalty towards the bank.

Faysal Bank Branding:

Logo Design: Faysal Bank’s logo shows its brand through a simple and easy to
remember design. It has the bank’s name in blue and green, with a “f” that looks
like an icon that shows a modern and innovative way of banking.

The logo also has the crescent and star symbols of Islam, which are important to
the bank’s customers and shareholders. The logo looks like a key, which also
means security, access, and opportunity.

Taglines: Faysal Bank has used some taglines for branding, like “Apke sath har
qadam” and “Barho Yaqeen Kay Sath.” They show the bank’s promise to be there
for its customers always, and match its vision to give reliable and easy banking
solutions that help customers reach their goals.

Both taglines are simple and easy to remember, making them easy for customers
to connect with the bank.

Color Scheme: Faysal Bank’s branding uses blue as the main color, which is a
popular choice among banks to show trust, stability, and reliability. The color of
green is used to show growth, prosperity, and progress.

This smart use of color makes the bank’s image as a trustworthy and reliable
financial institution.

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Jingle: Faysal Bank’s jingle is a nice tune that says the tagline “Barho Yaqeen Kay
Sath” with words like Faysal Bank, Faysal Islami, Faysal DigiBank, and Faysal
Barkat.

This simple tune is easy to remember and helps make brand awareness and recall
among the bank’s target audience.

Brand Identity:

 Faysal Bank cares about its customers and tries to give them the best
banking services. The bank follows Shariah rules and is honest with its
customers.

 Faysal Bank cares about its customers and tries to give them the best
banking services. The bank follows Shariah rules and is honest with its
customers. Faysal Bank also wants to help society and the planet. It
supports projects that help people who are sick, poor, or uneducated. For
example, it works with The Citizens Foundation to give education to
children who cannot afford it in Pakistan.

 They also plants trees to make the environment better. Faysal Bank makes
banking easy and fast for its customers by using technology. Customers can
use e-statements, online banking, and mobile banking to manage their
money. Faysal Bank is a great bank because it is innovative and customer-
friendly.

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Brand Positioning:

 Faysal Bank offers convenient and user-friendly banking solutions to

emphasize transparency and client care. They provide a variety of digital
products, such as internet banking, mobile banking, and cardless cash
withdrawal, to showcase their dedication to technology and innovation.

 The bank's Islamic banking services, like their profit and loss sharing Islamic
savings account "Mizaan," are gaining popularity in Pakistan. Faysal Bank
also provides value-added services, such as their "Faysal Ayaan" loyalty
program that rewards debit card users.

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  Faysal Bank's marketing strategies focus on promoting the benefits of their
services and fostering emotional connections with clients. For example,
their "Faysal Pocketmate" campaign promotes their mobile banking app
that allows users to check accounts and complete transactions while on-
the-go.

 Recently, Faysal Bank launched the "Faysal Pocketmate" app, which has
received positive feedback from customers for its convenience and ease of
use.

Marketing Channels Used by Faysal Bank and Their Effectiveness:

Social Media: Faysal Bank is a bank in Pakistan that uses different ways to
communicate with its customers and market its products and services. One of the
ways is using social media platforms like Facebook, Twitter, LinkedIn, and
Instagram. They use these platforms to interact with customers and make them
aware of their brand. They post financial tips, customer stories, and success
stories to attract and keep customers. They also answer customer questions and
comments to make the customer experience better.

Email Marketing Campaigns and Other Advertisements: Faysal Bank also sends
newsletters and promotional emails to customers using email marketing
campaigns. They plan and monitor these campaigns to make sure they work well.
They also make print and TV ads with messages that suit different groups of
people.

Event Sponsorship: Faysal Bank also sponsors different events to make more
people know about their brand and leave a good impression on them. For
example, they sponsored the Lahore Literary Festival and Faysal bank T20 Cup
2011, which is one of the biggest cultural events in Pakistan. By joining these
events, Faysal Bank can talk to potential customers and make them remember
their brand.

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Website and Social Media Pages Design: Faysal Bank makes sure that its website
and social media pages are easy to use by following some guidelines. They make
the design simple and clear, use the same colours, fonts, and page layout, and
make it easy to find things with clear headings, subheadings, and menus. They
also make their website and social media pages work well on mobile devices, so
users can access content on their phones.

Content Creation: Faysal Bank makes content that is interesting and relevant for
its target audience. To make the content more attractive and easy to share, they
use different kinds of media like text, images, videos, and others. They also keep
their website and social media pages updated with new content to keep visitors
interested and coming back for more.

User Feedback: Faysal Bank asks users for their opinions through surveys, polls,
and other ways to find out what they can do better and make changes to improve
the user experience. By following these guidelines, Faysal Bank makes sure that
its communication channels are easy to use and look good, which helps its
marketing efforts.

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Consumer Analysis :

Faysal Bank cares about what their customers think and does things to get
feedback and use it to improve. Here's how they do it:

1. Customer satisfaction surveys: They ask customers regularly about how

they're doing and what they can do better. Customers can also complain or
give feedback using their complaint system, which uses a special computer
system to track everything.

2. Social media: They talk to customers on social media and help them quickly
with any problems. They also ask customers for their thoughts on new
things they're doing, like their new credit card.

3. Complaint Management System: They make it easy for customers to

complain and give feedback by phone, email, website, or mobile app. They
keep track of every complaint and try to fix problems quickly. For example,
if a customer's debit card is late, they'll say sorry and give the customer a
free gift to make up for it.

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4. Product Development: Faysal Bank listens to its customers to develop new
products and services that meet their changing needs and preferences. The
bank conducts market research and surveys to identify customer problems
and opportunities. For example, the bank introduced FlexiSaver, a new
product that allows customers to withdraw money from their savings
account without any extra fees.

5. Training and Development: Faysal Bank also uses customer feedback to

identify areas where their employees need more training and development.
The bank provides its workers with the right training and tools to enhance

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 the quality of their service. For instance, the bank organized a training
session for its employees on how to communicate effectively with clients
and handle challenging situations, following feedback that some of its
employees were not helpful or polite to customers.

By listening to customer feedback, Faysal Bank can improve its services and boost
customer satisfaction, which is essential for the bank's long-term success.

Marketing Plan (Communication Mediums used and their

Effectiveness)
Faysal Bank uses a range of communication channels to reach out to its target
audience and promote its products and services. Some of the communication
channels used by the bank are:

Social Media:
Faysal Bank has a strong social media presence on platforms like Twitter,
LinkedIn, Facebook, and Instagram. Social media provides a platform which is
used to share information and ideas about the bank’s products, services, and

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promotions. It also allows the bank to engage with its customers efficiently in
real time and address their queries and concerns in a better way.
The bank regularly posts updates about their services through visual content, the
idea is to engage customers and keep them updated on a daily basis and monitor
any complaints or suggestions received from customers and respond
accordingly. They post engaging and relevant content that meets the needs and
interests of the target audience by using a mix of text, images and videos, to
make the content more engaging and shareable.

The above picture was posted on social media platforms of Faysal bank, aiming
to encourage its customers to celebrate Ramazan by availing discounts at
various restaurants. As social media platforms are quite popular among young
people who prefer eating out more and trying new restaurants, the post was
shared on social media keeping the same in mind.
Email Marketing:
One cost-effective way to cater and reach out to a large number of customers
simultaneously at once is Email marketing. Faysal Bank uses email marketing to
communicate with its customers and share information about new products,
services, and promotions.

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As email marketing plays an important role in reaching the right people at the
right time, Faysal bank efficiently uses this medium to their advantage by
sending timely campaigns and promotional offers to existing customers.
Moreover, Faysal bank uses personalized techniques by sending targeted emails
to its customers by sharing information relevant to them using their past
transaction history.
TV Commercials:
Another popular and effective way to cater and reach out to wider audiences
is TV commercials which can be used to create brand awareness. Faysal Bank
uses TV commercials to promote its products and services by featuring
appealing visuals and highlighting the benefits of banking with them.
Faysal bank also does celebrity endorsements in their commercials. Recently,
Shaheen Afridi featured in Faysal Islami TVC which conveyed the message of
faith, determination, passion and belief in oneself and the Almighty. The
endorsement showed shared core values between Shaheen Afridi and Faysal
Bank Islami.
Print Ads:
To reach out to a specific target audience,
print ads play a particularly effective role. The
bank uses print ads in newspapers and
magazines to promote its products and
services. Through print ads, bank aims to grab
the opportunity of reaching higher frequency of
viewing than online ads at times as prints ads
have longer shelf life.
Print ads are seen as more
trustworthy by older people than digital ads, as
they find print ads to be easier to read and
understand which can result in positive buying
behavior. Faysal bank uses this opportunity to
their advantage by creating visually appealing

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ads and highlighting key benefits using simple messaging.
This print ad by Faysal Bank conveys the message of being ambitious by
encouraging customers to push their limits and spend more through Faysal
Bank’s Titanium card in order to elevate and enhance their lifestyle.
Events and Sponsorships:
Faysal Bank also sponsors events and participates in exhibitions to promote its
brand and products. This allows the bank to engage with its target audience and
build brand awareness. In the past few years, Faysal bank has sponsored in the
following events to name a few:
 Faysal Bank Open Golf Championship: Faysal bank sponsors Pakistan’s
annual golf tournament named Pakistan Open Golf Championship.
Through this association, Faysal bank aims to promote sports and healthy
lifestyle among its customers.
 Faysal Bank Super Eight T20 Cup: Faysal bank sponsors cricket
tournament which features eight regional teams in Pakistan thus the
name Super Eight T20 Cup. Through this event association, Faysal bank
aims to promote cricket and engagement among local communities.
 Faysal Bank T20 Cup: Faysal bank sponsors in the domestic T20 cricket
competition called the T20 Cup. Through this competition, the bank aims
to support local talent while also promoting cricket in the country.
 SOP Unified Marathon 2023: Faysal Bank sponsors the Special Olympics
held in Pakistan called the SOP Unified Marathon. The marathon’s
purpose is to show solidarity with special people and through this
association, Faysal bank conveys the same message by supporting
diversity and inclusivity.
Faysal Bank also takes an active part in CSR activities. They feel that giving back
to the society is an integral component of their set of operations. Faysal bank’s
Corporate Social Responsibility initiatives are aligned with the Islamic principles
which also reflects the bank’s values. Faysal Bank is contributing nationwide
with their CSR activities in the areas of education, health and social welfare.
 In the area of Education, Faysal bank has collaborated with a number of
educational institutions to sponsor educational expenses of deserving

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 students. The educational institutes partnering with Faysal Bank include
The Citizen Foundation, The Hunar Foundation, Rahnuma Public School,
Behbud Association and Karigar Training institute to name a few.
 In the area of Health, Faysal bank has collaborated with a number of not-
for-profit health hospitals and organizations in order to provide accessible
quality healthcare to the deserving people. Faysal bank also joined hands
with healthcare organizations during Covid’19 pandemic to set up
quarantine and treatment facilities for patients. The health organizations
Faysal bank collaborated are Indus Hospital, Patient Behbud Society for
Aga Khan University and Hospital, The Kidney Centre and National
Institute of Child Health.
 In the area of social welfare, Faysal bank collaborates with a number of
welfare trusts in order to uplift the sustainability and welfare of the
society. Faysal bank has collaborated with Akhuwat Micro Finance Bank,
NUST Endowment Fund, Hisaar Foundation, Karachi Relief Trust and
HOPE.
EFFECTIVENESS OF COMMUNICATION CHANNELS:
To measure the effectiveness of these communication channels, Faysal Bank
uses various metrics such as:
 Website analytics: Faysal bank uses website analytics to measure website
traffic and analyze which pages and content are most visited by
customers. Through this, they can improve and enhance customer’s
experience on the website by making it more user friendly.
 Social media engagement: Faysal bank measures customer engagement
metrics on social media such as likes, shares and comments on posts
through analytic tools. Through this, Faysal bank gets a better
understanding of the kind of messages which align best with customers’
needs and strategize accordingly.
 Email open rates: Faysal bank uses this metric to evaluate the percentage
of customers who opened their emails. This provides a better idea of the
effectiveness of the subject lines of emails.
 Click-through rates: Faysal bank uses this metric to evaluate the
percentage of customers who opened the links present in the emails. This
provides a better understanding of the effectiveness of the email content.
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  Conduct customer feedback surveys: Faysal bank conducts online
surveys through different communication mediums in order to get
feedback from customers. Through this, they get the idea of the areas
they can improve and deliver accordingly in order to delight their
customers.

The bank uses these metrics to gauge the effectiveness of its marketing campaigns.
By monitoring these metrics and gathering customer feedback, Faysal Bank make
data-driven decisions and optimize its marketing campaigns for better results.

Consumer Analysis:
Consumer analysis is an important process for banks to understand their
customers’ needs, wants, and preferences (demands). It involves collecting and
analyzing data about customers' demographics, financial behavior, and attitudes
toward banking services. It helps the banking sector to develop marketing
strategies, improve customer experience, and retain and attract customers in the
competitive market. It also helps banks to Improve customer satisfaction which
increases customer loyalty and gives them an advantage in the market.
Furthermore, consumer analysis and research help the organization to identify
potential threats and opportunities, which make them informed and stay ahead
of the competition
Faysal Bank knows the significance of customer feedback in enhancing its service
quality and customer satisfaction. Faysal Bank uses various method to gather
feedback and information some are as follow.
1. Surveys: Surveys are an effective way to collect data and identify customer
needs wants and demands. It also measures customer satisfaction levels to
retain the existing customer and attract new ones. Faysal Bank conducts
regular customer satisfaction surveys to gather feedback from its
customers to identify areas where it needs to improve its services and
measure its current services' effectiveness.
2. Social Media: Nowadays social media become an important medium to
engage and communicate with customers and the banking sector uses
social media platforms such as Facebook, Twitter, and LinkedIn to connect
with customers, answer their questions, and provide customer support.

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 Faysal Bank also uses social media platforms to engage with customers and
gather feedback. The bank monitors social media channels for customer
complaints and queries and responds promptly to address them.
3. Complaint Management System: Complaint and management systems are
an important part of the customer service process in the banking sector.
Faysal Bank has a complaint management system in place that allows
customers to register complaints and provide feedback. Faysal Bank uses
various channels such as phone, email, and online forms, to allow
customers to submit complaints and feedback about their services. The
bank takes these complaints seriously and works to resolve them in a
timely and effective manner.
4. Training and Development: Training and development investment by banks
can lead to better quality services, higher employee satisfaction and
retention rates, and increased productivity and efficiency. Faysal Bank uses
customer feedback to identify areas where its employees need more
training and development.

Faysal Bank uses feedback obtained from these mediums to identify areas of
improvement. This, in turn, helps the bank to provide better services and improve
customer satisfaction, which is essential for the long-term success of the bank.
Trends in the Market:
As the banking industry is evolving day by day, keeping up with the trends is
necessary for banks to stay competitive, some current trends in the banking
sector that Faysal Bank is following:
1. Digital Banking: Digital banking has become a significant trend in the banking
sector due to the rising usage of electronic devices, such as smartphones,
and customers' preferences for using digital channels to meet their banking
needs. Faysal Bank has also adopted digital banking services, including online
banking, mobile banking, and digital payments, to meet the evolving needs
of its customers.
2. Personalization: Faysal Bank is responding to the trend of personalized
banking by offering customized products and services that cater to the
unique needs and preferences of each customer. This approach allows the

25
 bank to offer a more targeted and relevant experience, which can lead to
higher levels of satisfaction and loyalty. Personalization can take many forms
and is driven by the recognition that customers have different financial goals
and constraints. By focusing on personalized banking, Faysal Bank can better
serve its customers and stand out in a competitive market.
3. Sustainability: Sustainable banking practices are becoming increasingly
important in the banking industry as customer’s demand environmentally
and socially responsible services from their banks. Faysal Bank is actively
implementing sustainable practices in its operations and offering a range of
green banking products and services to meet this demand.
4. Collaboration: Collaboration between banks and fintech companies is
increasingly becoming a popular trend in the banking sector, and Faysal
Bank is taking part in this trend by collaborating with fintech companies to
offer innovative products and services to its customers.
5. Artificial Intelligence: Artificial Intelligence (AI) and machine learning (ML)
are rising trends and are being used in the banking sector to improve
operational efficiency and customer experience. Faysal Bank Artificial
Intelligence and Machine Learning automate its operations, provide
personalized recommendations and services to its customers, and enhance
fraud detection and prevention.
By embracing these emerging trends, Faysal Bank can stay competitive and meet
the evolving needs of its customers, offering innovative and efficient services that
enhance the overall banking experience.
Motivation of Consumers Behind the Usage:
1. Rewards and Incentives: Offering financial incentives such as rewards, or
cash back, can motivate customers to use banking services, as they seek to
maximize their financial benefits and returns. Faysal Bank recognizes this
and provides various rewards and incentives to its customers, including
cashback, discounts, and loyalty points, to encourage them to use its
services more frequently.
2. Special Offers and Promotions: Offering exclusive deals, discounts, and
rewards is a popular way for banks to attract and retain customers,
incentivizing them to use their products and services frequently and remain

26
 loyal to the brand. Faysal Bank also provides special offers and promotions,
such as lower interest rates on loans or higher deposit rates, to encourage
customers to use its services more often and attract new ones.
3. Customer Service: Customers always expect banking services to be easy to
use and access, for helplines available 24/7 and accessible from anywhere.
In short, convenience is the major key factor to attract and motivate
customers to use banking services. Faysal Bank places great importance on
offering exceptional customer service to motivate and satisfy its customers.
This involves providing fast and courteous service, promptly addressing
customer complaints and concerns, and delivering personalized assistance
to meet their individual needs.
Faysal Bank adopts these policies and motivates its customers, resulting in
increased customer satisfaction, and loyalty, and ultimately contributing to
business growth.
Consumer Perception of the Brand:
Consumer perception of the brand is an important factor in the success of any
business, including the banking industry. The way customers perceive a bank's
brand can influence their decision to use its products and services, recommend it
to others or switch to a competitor.
Faysal Bank positions itself as a socially responsible and customer-centric bank
that offers ethical and Shariah-compliant banking services to its Muslim
customers.
To reinforce this brand perception, Faysal Bank should prioritize delivering a
seamless customer experience, being transparent and providing clear information
about its products and services, and upholding the highest ethical standards in its
operations. The bank can also utilize customer feedback and testimonials to
establish trust and credibility with its target audience.
Additionally, investing in marketing and branding initiatives that highlight its
unique value proposition and commitment to social responsibility and ethical
business practices, such as targeted advertising, community event sponsorships,
and partnerships with like-minded organizations, can further strengthen the
brand perception over time, leading to increased brand loyalty and advocacy.

27
Brand personality:
Brand personality states some characteristics associated with the brand and how
customers perceive the brand’s value and beliefs. That can influence their buying
behavior and decision-making. Here are some key points about the brand
personality of Faysal Bank:
1. Ethical: Faysal Bank differentiates itself from other banks in the market by
prioritizing corporate social responsibility and ethical business practices. This
includes supporting community initiatives, promoting sustainability, and
advocating for diversity and inclusion, as part of its commitment to Shariah
law. As a result, socially conscious customers may view Faysal Bank more
positively than other banks.
2. Customer-centric: Banks need to be perceived as professional and
knowledgeable in their services. Customers expect the bank's employees to
be well-trained, courteous, and efficient in handling their banking needs.
Faysal Bank places a strong emphasis on putting customers first and
providing personalized solutions to meet their specific financial
requirements. This approach sets it apart from other banks that may
prioritize profits over customer satisfaction.
3. Innovative: Banks that are perceived as innovative and forward-thinking
may attract tech-savvy customers who value convenience and flexibility in
their banking experience Faysal Bank aims to offer a diverse range of
innovative products and services to its customers. This demonstrates its
willingness to be a market leader and stay ahead of the curve in terms of
technological advancements and financial services.
4. Trustworthy: Banks’ services should be trustworthy and reliable to build
long-term relationships with their customers. This can only be possible by
being transparent in operations, offering secure and reliable banking
services, and providing good customer service. Faysal Bank's brand
positioning is built on trust and transparency, emphasizing its commitment
to ethical business practices and social responsibility. This sets it apart from
banks that may have a reputation for being opaque or untrustworthy in
their operations.

28
Faysal Bank's brand identity is distinguished by its emphasis on ethical values,
customer-centric approach, innovative solutions, and reliability. This combination
of qualities can help it stand out from its competitors in the banking industry.

Competitor Analysis:
Competitor analysis is an important aspect of consumer behavior that involves
examining the strengths and weaknesses of a company's direct and indirect
competitors in order to identify potential threats and opportunities in the market.
Competitor analysis helps businesses to better understand the competitive
landscape and make informed decisions about pricing, product development,
marketing, and other aspects of their business strategy.
In consumer behavior, competitor analysis involves examining the products,
marketing strategies, and overall brand image of competing companies in the
same industry or market segment. This can involve conducting market research,
analyzing consumer reviews, and tracking the performance of competing
products in order to gain insights into what consumers are looking for and what
the competition is doing right or wrong.
For example, let's say that you are a consumer electronics company that produces
high-end smartphones. As part of your competitor analysis, you might examine
the products and marketing strategies of your top competitors, such as Apple and
Samsung. You might compare the features, design, and performance of their
smartphones to your own, and identify areas where you can differentiate your
products or improve your marketing to appeal to different segments of the
market.
You might also analyze consumer reviews and feedback on competing products to
identify common pain points or areas of dissatisfaction, and use this information
to inform your own product development and marketing strategies. Additionally,
you might track the pricing strategies and promotions of your competitors in
order to stay competitive and attract price-sensitive consumers.

29
By conducting a thorough competitor analysis, you can gain valuable insights into
the market and position your products and marketing strategies to better appeal
to consumers and stay ahead of the competition.

 Direct/Indirect Competitors
In consumer behavior, direct competitors are companies that produce
products or services that are similar to yours and that are targeting the
same customers or market segment. They offer products that are
considered to be close substitutes for your own product. For example, if
you are a fast-food restaurant that specializes in burgers, your direct
competitors are other fast-food restaurants that also offer burgers, such as
McDonald's, Burger King, and Wendy's.

Indirect competitors, on the other hand, are companies that produce

products or services that are different from yours but that can still satisfy
the same customer needs or wants. They offer products that are not close
substitutes for your own product but still compete for the same customers.
For example, if you are a fast-food restaurant that specializes in burgers,
your indirect competitors might include other types of restaurants that
offer different types of food, such as pizza restaurants or Mexican
restaurants. These restaurants may not offer burgers, but they still
compete for the same customers who are looking for a quick and
convenient meal.

In general, direct competitors have a more immediate and direct impact on

your business, as they offer products that are very similar to your own and
compete for the same customers. However, indirect competitors can also
have a significant impact on your business, as they offer alternative ways
for customers to satisfy their needs or wants.

30
 Understanding both direct and indirect competitors is important for
businesses to develop effective marketing strategies and stay competitive
in the market. By analyzing the strengths and weaknesses of your
competitors, you can identify opportunities to differentiate your products
and services, better target your marketing efforts, and stay ahead of the
competition.
 Faysal bank Competitors Analysis
Faysal Bank operates in a highly competitive market with several direct and
indirect competitors. Its main direct competitors include Meezan Bank,
BankIslami, and Dubai Islamic Bank, which offer similar Shariah-compliant
products and services. Its indirect competitors are Habib Bank Limited
(HBL), United Bank Limited (UBL), and Standard Chartered Bank, which
offer conventional banking products and services.
While Faysal Bank competes strongly with its direct competitors in the
Islamic banking space, its product range may be more limited than its
competitors who offer both conventional and Islamic banking services.
However, Faysal Bank's focus on social responsibility, ethical business
practices, and customer-centricity may set it apart from its competitors and
be a key differentiator in the market.

31
DISCUSSION AND CONCLUSION:
The banking sector in Pakistan is highly competitive and the market is growing rapidly with the
adoption of digital banking services. In this context, Faysal Bank has implemented different
strategies to cater to the needs of its customers. Faysal Bank has expanded its portfolio by
offering a wide range of Shariah-compliant products and services, such as personal banking,
business banking, wealth management, and e-banking. The bank focuses on streamlining its
banking processes to make them more user-friendly and is investing in technology to make
online banking more convenient for its customers. The bank also offers reasonable prices for its
services and provides promotions and discounts to attract and retain customers. Moreover,
Faysal Bank invests in employee training and development programs to ensure the quality of
services is maintained according to the customers’ expectations.
Faysal Bank segments its customers based on demographics, geography, psychographic
characteristics, and behavior. The bank segments its customers based on their age, gender,
income, education, and employment status. They also segment customers based on their
geographic location, such as urban vs. rural areas, and different regions within Pakistan. The
bank caters to different customer segments by offering a diverse range of Shariah-compliant
products and services tailored to their needs.

RECOMMENDATIONS:
Faysal Bank has implemented various strategies to cater to the needs of its customers and has
expanded its portfolio by offering a wide range of Shariah-compliant products and services. The
bank is focusing on digital banking services to provide seamless and convenient banking to its
customers. Moreover, Faysal Bank invests in employee training and development programs to
ensure the quality of services is maintained according to the customers’ expectations. The bank
segments its customers based on demographics, geography, psychographic characteristics, and
behavior to cater to different customer segments by offering a diverse range of Shariah-
compliant products and services tailored to their needs.

LIMITATIONS:
The report lacks in-depth analysis of the banking industry in Pakistan and the competitive
landscape. Moreover, the report does not provide any insights on the customer satisfaction
level, customer loyalty, and market share of Faysal Bank. Further research is needed to obtain a
more comprehensive understanding of the banking industry in Pakistan and the competitive
landscape.

32
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34
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35
Team Members’ Contribution List
1. Muhammad Usman Khan (20221-32000)
 Acknowledgement
 Abstract
 Company Profile
 Competitor Analysis
 Direct/Indirect Competitors
 Faysal Bank Competitors Analysis
 Discussion and Conclusion
 Recommendations
 Limitations
2. Umme Farwa Fatima (20221-32070)
 Industry Review
 Marketing Mix
 Market Size
 Market Structure
3. Aisha Shaikh (20221-32118)
 Target audience
 Marketing plan
4. Maryam Siddiqui (20221-32027)
 Consumer Analysis
 Needs, Wants and Demands
 Trends in the Market
 Motivation of Consumers behind usage
 Consumer Perception of the Brand
 Brand Personality
5. Abdullah Habib (20221-33105)
 Faysal Bank Branding
 Brand Identity
 Brand Positioning
 Marketing Channels Used by Faysal Bank and Their Effectiveness
 Consumer Analysis
36
 Appendix

Industry Review
1. What strategies should bank focus on to attract and retain customers,
including services, pricing, marketing, staffing, and customer experience?
(Marketing Mix (4ps for product/7ps for Service industry)
2. How has the market size of the banking sector changed over the past 5
years and how has that changed the customers’ preference? Market Size
3. How do consumer preferences and attitudes towards different banking
services influence market structure in the banking sector? Market
Structure

Target Audience:
4. What similarities do you find in your regular customers and what is the
main identification point of your customer segments? Type of
segmentation used (STP) Branding of the Company (Tagline, Colors, Logos,
Jingle)
5. How effective is your current messaging and how can you summarize your
value proposition to your ideal users? Brand Positioning
6. How does your current logo, tagline, and branding communicate your
brand identity? Brand Identity
Branding of the Company (Tagline, Colors, Logos, Jingle)
7. How do you ensure your website and social media pages are attractive and
user-friendly? Website and Social Media pages (Content present on them)
Offers, Deals etc. by the company
8. What are the communication channels you use for your marketing
campaigns and how do you measure their effectiveness? Marketing Plan
(Communication Mediums used and their Effectiveness)
9. How do you use customer feedback or reviews to improve your service
quality and satisfaction? Consumer Analysis: Needs, Wants and Demands

37
Consumer Analysis:
10.What are the current trends in the banking sector? Which trends are you
following in your bank? Trends in the Market
11.As a brand what are your policies and do you opt to motivate your
customers? Also for your employees. Motivation of Consumers behind
usage
12.What is the customers' perception of your bank? What do you want your
brand perception to be in the customer's mind? Consumer Perception of
the Brand
13.How would you describe the personality or character of your brand
compared to other banks in the market? Brand Personality

Competitor Analysis
14.Whom do you see as your main direct and indirect competitors in the
market, and how would you compare to them in terms of products and
services? Direct/Indirect Competitors

Branding of the Company (Tagline, Colors, Logos, Jingle)

15.Do you think your company's branding effectively communicates your
values and identity and does it meet the established criteria for strong
branding? Does the company’s Branding fulfil the Branding Criteria?

38