Professional Documents
Culture Documents
Marketing of Banking Services
Marketing of Banking Services
Marketing of Banking Services
of
Banking Services
Pujit Singh(UM10304)
Shivam Miglani (UM10307)
Sahib Singh(UM10809)
Kushal Walia(UM10905)
WHAT IS BANKING?
Visit the Bank in person and conduct transactions with a bank clerk.
Use an ATM.
Use the keys on a telephone to interact with the back in response to voice
commands.
Conduct home banking through your own computer, using modem and special
software
Transactional accounts
Savings accounts
Debit cards
ATM cards
Credit cards
Traveler's cheques
Mortgages
Personal loans
Business loan
Project finance
Revolving credit
Term loan
Credit services
The purpose of the bank is to create, win and keep a customer: The
customer is and should be the central focus of everything the bank does.
Studies have shown that a separate marketing department may widen the
gap between marketing and its operations
Back-end personnel may think that the bank has now marketing specialists
and hence they need not bother about customer related responsibilities any
longer.
However, some Indian banks have started marketing department for deposit
services function only. functions same but with more promotional activities.
Marketing is much more than just advertising and promotion it is basic part
of total business operation
Marketing strategies
Designed after taking into account the strengths and weaknesses of the
organization.
Bank which are not facing acute competition could think of Market
Development by offering the existing services to new customers.
Segmentation
Segmentation
Agricultural Sector
1.
Marginal
2.
2 to 5 acres
3.
5 to 10 acres
4.
Industrial Sector
1.
Tiny
2.
Co-operative
3.
Small-sized
4.
Large- sized
Services Sector
1.
2.
Household Sector
1.
Marginal
2.
Low Income
3.
Middle Income
4.
High Income
Types of Marketing
Traditional
external
marketing
Internal
marketing
Interactive
marketing
Pricing
The interest charged and the interest paid should have a corelation between them.
Develop
marketing
strategy
Make
marketing
mix
decisions
Estimate
the
demand
curve.
Calculate
cost
Place
With the advent of technology other point of contacts have come up. Such
as:
ATM
Telephone banking
Online banking
Mobile banking
Promotion
Advertising
Publicity
Sales Promotion
Personal Selling
2. Internal marketing
3. Interactive marketing
Process (6th P)
Process
It involves:
standardization of procedures
simplicity etc.
Physical evidence
Signage: Each and every bank has its logo by which a person can identify
the company. It creates visualization and corporate identity for the banks.
Punch lines: Depicts the philosophy and attitude of the bank. Banks have
influential punch lines to attract the customers.
Referral services
Direct mailing
Cold calling
Sponsoring events
Customer satisfaction
RURAL Strategy
MARKETING OF SERVICES BY
ICICI BANK:
7 Ps:
1.
Product
2.
Pricing
3.
Place
4.
Promotion
5.
Process
6.
Physical Evidence
7.
People
7 Ps of ICICI Bank
1.
Product :
Saving account: offers a power packed
Savings Account with a host of convenient
features and banking channels to transact
through.
Senior citizen services: convenience with
benefits
Fixed Deposits : Safety, Flexibility, Liquidity
and Returns
Demat services
Mobile banking
7 Ps of ICICI Bank
1.
2.
3.
4.
2. Pricing
Pricing Decisions related to interest, fee or
commission.
RBI and IBA
Raising Number of Customers
2 Fold Strategies
7 Ps of ICICI Bank
1.
2.
3.
3. Place
Services are sold through branches
Making Promised Services available to the ultimate
users.
3800 branches and 11162 ATMs in India
7 Ps of ICICI Bank
4. Promotion
1.
2.
3.
4.
5.
6.
7.
7 Ps of ICICI Bank
5. Process
1.
2.
3.
4.
7 Ps of ICICI Bank
6. Physical Evidence
1.
Signage
2.
3.
4.
5.
Employees Dress Code- ICICI bank follows a dress code for their
internal customers
7 Ps of ICICI Bank
1.
7. People
All people directly or indirectly involved in the
consumption of banking services.
2.
3.
4.
Internal Marketing
Transparency
Conclusion
Bank ATMs not only offer 24-hour banking services but may also dispense tickets,
stamps, and abbreviated bank statements.
To survive in the market, bank must follow bank marketing approach and
should have:
Bank marketing helps in achieving the organisational objections commercial(profit) & social objectives(development role-rural areas) of the
banks.
THANK YOU