Professional Documents
Culture Documents
Chapter Two, Three
Chapter Two, Three
Methodology
2.1 Definition of Research:
Research is often described as an active, diligent, and systematic process of inquiry
aimed at discovering, interpreting and revising facts.
The word research is derived from the French language; its literal meaning is 'to
investigate thoroughly'.
Basic research
Basic research is also called fundamental or pure research. As the name itself refers,
Basic Research is of basic nature which is not carried out in response to a problem. It
is more educative, towards understanding the fundamentals and aim at expanding the
knowledge base of an individual or organization. It does not have any commercial
potential.
Applied research
Applied Research on the otherhand is carried out to seek alternate solutions for a
problem at hand. Applied research is done to solve specific, practical questions; its
primary aim is not to gain knowledge. It specifies possible outcomes of each of the
alternatives and its commercial implications.
Research is the only tool an organization has to keep in contact with its external
operating environment. In order to be proactive and change with the environment
simple questions need to be asked:
What are the customer needs and how are they changing? How to meet these
changing needs? What do the customers think about existing products or
services? What more are they looking at?
What are the competitors doing to retain customers in this environment? Are
their strategies exceeding or influencing yours? What should you do to be
more competitive?
How are macro and micro environmental factors influencing your
organization? How will you react t this environment?
The aim of marketing management is to satisfy the needs of the consumer. Marketing
research helps in achieving this. Marketing research is a systematic and logical way of
assessing ways of satisfying customer needs.
According to all the above definitions, Marketing Research starts by stating the
problem or the issue to be investigated; indicate what kind of information is required
to resolve the problem; identify where and how to get it; specify the methodology for
analyzing the research findings; sum up the research findings and then suggest the
best solution for marketing decision making.
The definition describes marketing as an exchange that satisfies both the seller
(organization) and the individual (buyer). Marketing is sometimes misunderstood as
only selling, with the organization convincing the buyer to purchase something they
don’t want or need. While selling is an important part of promotion, there would be
no long-term gain for any organization to focus only on selling their product. Even if
they could use high pressure sales techniques to convince buyers to purchase,
business success relies on repeat customers. Such customers would most likely feel
manipulated and be unlikely to purchase again. The definition also states that an
organization should only provide products that fulfill its goals. Thus the organization
has a mission and a strategic plan and marketing exists to help the organization meet
both, while at the same time meeting the needs of customers.
Research is too often thought of as only being useful in answering specific marketing
questions. It is true that research is needed to answer such questions as what types of
new products consumers might want or what new market segments to target for an
existing product. However, it is better to conceptualize marketing research as a tool
that should be used on a continual basis for finding new opportunities and solving
problems. In fact marketing research needs to be regarded as an ongoing marketing
activity.
Research plays a critical role in the development of a marketing plan for all types of
businesses and organizations, both large and small and for profit and nonprofit.
Marketing research has traditionally been seen as just one component in the marketing
plan, but it is better to consider research as part of the entire process of developing the
marketing plan and not as a single step. In fact the field of marketing research is being
changed by new technologies. The marketing researcher is now seen as a consultant
who can either conduct the research themselves or help organizations learn how to use
the new online tools so they can conduct their own research (Siesfeld, 2005).
Rather than see research as only one step in the process of developing a marketing
plan, it should be seen as essential to the entire process. After all, research is the only
way a company can conduct environmental and competitor analysis. The research
conducted may involve a large-scale study or be as simple as visiting a competitor’s
store and reading the local business news. Research is also the only means marketers
can use to understand buyer motivation. This research may consist of a large formal
survey, informal interviews, or both. First, the proper target market segment cannot be
chosen without researching the demographics of the consumer marketplace. Next,
additional consumer research will be needed to determine what a target segment needs
and wants. Finally, decisions about product, distribution, pricing and promotion can
only be successfully answered after conducting marketing research.
Ethics provide a system that helps a person to determine what is right and good from
what is wrong and bad. Ethics also provide an individual with guidelines that will
help in making decisions. The ethical system a person uses for making decisions in
his or her personal life most likely is the result of family or educational influence, or
both of these. However, the ethical behavior of people continues to be shaped by their
environment, even as adults. This includes the environment in which they work
(Barnett and Valentine, 2004).
Below is an example showing the statement of ethical principles for the Marketing
Research Society. Even for someone who does not belong to the Society these are still
excellent principles to follow.
Chapter Three
Overview of the organization
3.1 Background:
Agrani bank limited (ABL) was incorporated as a state owned commercial bank on 17
may 2007 under the company’s act 1994. Agrani bank emerged as a nationalized
commercial bank following the Bangladesh banks (nationalization) order 1972 vide
president’s order no 26 of 1992 under which erstwhile Habib bank limited and
commerce bank limited and renamed as Agrani bank. Ongoing concern basis ABL
took over the business assets, liabilities, rights and obligations of Agrani bank through
a vendor’s agreement signed on 15 November 2007 between the ministry of finance
of the people’s republic of Bangladesh and the board of directors of ABL with
retrospective effect from 1 July 2007. ABL has 953 branches widely distributed and is
a technology pioneer, with all branches providing real time online banking. We also
have subsidiaries: a merchant bank, small and medium sized enterprises (SMEs)
financing company and remittance house in Singapore, Malaysia, Canada and
Australia.
At ABL, we believe in being a responsible financial services provider and we are
committed to making a difference in the lives of our stakeholders and nation of the
country. Just as we are dedicated to helping our customers manage their finances
wisely and grow their business, ABL is committed in our support of socio-economic
development of Bangladesh. ABL provides it’s corporate, SME and retail clients with
a wide range of products or services such as extensive deposit and loan options that
include Islamic banking, foreign currency and pension schemes. Our offering includes
personal financial services, business banking, transaction banking, commercial and
corporate banking. Corporate finance, treasury services, capital market activities and
clearing services. Through our subsidiaries, Agrani bank limited also provide asset
management, SME finance, venture capital management and foreign remittance
services.
Share Capital
Service Network
Branch : 953
Circle office : 11
Zonal office : 53
Corporate branch : 34
Authorized dealer (AD) branch : 42
Foreign correspondent : 302
Islami banking unit :5
Agent banking : 200
Remittance only points : 200
Exchange Rate as on (30september/2021)
Vision:
To operate ethically and fairly within the stringent framework set by our regulators
and to assimilate ideas and lessons from best practices to improve our business
policies and procedures to the benefit of our customers and employees.
Mission:
To become the best leading state-owned commercial bank of Bangladesh operating at
international; level efficiency, quality, sound management, excellent customer service
and strong liquidity.
Values:
We value integrity, transparency, accountability, dignity, diversity, growth and
professionalism to provide high level of service to all our customers and stakeholders’
inside and outside the country.
Motto:
To adopt and adapt modern approaches to stand supreme in the banking arena of
Bangladesh with global presence.
Dhaka 202 15
Chattogram 194 10
Khulna 138 8
Barishal 60 5
Rajshahi 144 9
Rangpur 66 6
Mymensingh 89 7
Sylhet 60 4
Deposit:
Current deposit
Savings deposit
Special notice time deposit
Nonresident special taka amount
Nonresident investor’s taka amount
Student’s savings A/C (school banking)
Small life insurance policy holders A/C
Ten taka farmers
Freedom fighters
Other beneficiary’s under social security’s program
FDR Account:
Fixed deposit (FDR)
Deposit Scheme:
Agrani bank pension scheme (APS)
Agrani bank bisheshshanchy scheme (ABS)
Agrani bank scnchy pension scheme (ASPS)
Agrani bank double benefit scheme
Agrani bank lakhpoti deposit scheme
Agrani senior citizen savings scheme
Letter of credit:
Letter of credit sight
Letter of credit issuance
Back to back L/C
Treasury:
Money market
Call money transaction
Term placement
Treasury bills
Treasury bonds
Secondary trading of govt. securities
Repo
Reserve repo
Custodian services
Other investments
Investment:
Baimurabaha(pledge)
Baimuazzal (hypo)
Higher purchase shirkatulmeilkj Baisal