d. Travel Insurance- Domestic travel, Overseas travel.
E. Motor Insurance- 2 & 4 wheeler.
All these policies can be brought online- “Go green buy Online”.
“ We keep you going”
ICICI Home Finance Company Limited was incorporated on May 28, 1999.
ICICI Home Loans are at present available to customers in 150 cities/towns across the country.
Company also offers loans for commercial property and loans against existing property. The loans are offered for tenors up to 30 years.
“ Khusiyon ka Grihapravesh”
3. ICICI Home Finance Company Limited:
Positioning of the Key Brands
Brand Positioning Strategies
1) Very Simple Strategy by tapping the rural market against the urban market.
2) Tie ups with various dairy companies and banks.
1) Launching of new policies which guaranteed income at very low risks.
2) Continuation of life insurance policies which offered insurance also in the scenario where there was break in the premium.
3) Feel good factor for the strata of the people nearing retirement.
Brand Positioning Strategies
ICICI Home Loan:
1) Higher income savings for people holding high cost loans.
2) Transferring of normal loans to the ICICI home loan.
3) Prepayment on the old loan and processing fee on new loan.
4) Free door to door service.
Boston Consultancy Group Matrix
Competitors and the differentiation of each Brand based on positioning:
ICICI Prudential – An External approach in differentiating on positioning
ICICI Lombard – An Internal approach in differentiating on positioning Sustain margins without losing customers ??? ICICI Lombard to automate its key spend processes in a single integrated manner Focused on complex categories of services and marketing promotion. Explosive growth of the BFSI segment Demanding Customer ? ICICI Lombard decided to adopt an e-procurement solution. ARIBA
A Broad approach for ICICI Home Finance
A Broad approach for ICICI Home Finance So many Banks all have similar offerings , whom do I go for ?????? How they want? What they want? When they want? R&D in understanding their customers, Flow of Processes ..like paper work and legal documentss Speeeed !!!! Be QUICK GUYS Capturing the mind of the customer ..
Key Marketing communication & its evolution:
Marketing Communication ?
Some marketing communications done by ICICI
* Electronic Media
* Print Media
* Direct marketing
* Co-Branding Exercise
* Outdoor marketing activities
* Media Relations.
* Investor Relation campaigns
* Promotion material at channel partner outlet
Major Marketing Communications.. Result ?
Hum hai na..
Rural Marketing Initiatives
ICICI & n-Logue
Kamdhenu Cattle Loan campaign
Talkies on the move campaign
Awarded ‘Best Rural Marketing Initiative’ by Rural
marketing association of India in January 2009.
Two awards at the WOW event and Experiential
marketing awards in March 2009.
Vishwas hi sab kuch hai
Exposure in Agriculture Sector in 2008-2009 = Rs. 25,000 crores.
Expected exposure in Agriculture Sector by 2015 = Rs. 1,00,000 crores.
FUTURE PLANS OF ICICI BANK 2. Risk Management and Basel II Norms 3. Focus on CSR initiatives: During 2008 floods in Bihar ICICI carried out a massive fundraising drive. Working on similar lines. 4. Overseas Expansion. 5. Opening up of Low Cost ATMs with basic functions across villages. 6. Rebuilding their image, Building Trust
Research by Innovation Forum “Banks and Future”
Life –Assistant-banking at showcase Scenario High tech banking Community banking at showcase Structure of the trend survey “Bank & Future”
RECOMMENDATIONS AND DIFFERENTIATING FROM OTHERS 1.Improving its Customer Care. 2.Introduction of Smart Cards. 3.Reduction of Penalty fees and Special service fees 4.Complete separation of other businesses like mutual funds, insurances etc. 5.Widening Loan Portfolio. 6. Reverse Mortgage. 7.Place and Time Mobility. 8.One stop shop for all financial needs. 9. Reducing Response time.