Marketing concepts for Banking-B.V.Raghunandan

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Application of principles of marketing in banking as presented by B.V.Raghunandan at Karnataka Bank Staff Training College, Mangalore

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Marketing concepts for Banking-B.V.Raghunandan

  1. 1. Marketing Concepts for a Competitive Era - B.V.Raghunandan, S.V.S College, Bantwal Karnataka Bank Staff Training College, Mangalore. June 20, 2007
  2. 2. Marketing Vs Banking <ul><li>Marketing </li></ul><ul><li>Product Research </li></ul><ul><li>Target consumers </li></ul><ul><li>Market Study </li></ul><ul><li>Flexible Operation </li></ul><ul><li>Free Operating Atmosphere </li></ul><ul><li>Banking </li></ul><ul><li>Professionalism </li></ul><ul><li>Across Board consumers </li></ul><ul><li>Customer database </li></ul><ul><li>Regulated Operations </li></ul>
  3. 3. Marketing in Banking <ul><li>Competitive Banking </li></ul><ul><li>Reduced regulation </li></ul><ul><li>Independence in Fixing Interest Rates </li></ul><ul><li>Bancassurance </li></ul><ul><li>Merchant Banking and Other Financial Services </li></ul>
  4. 4. Marketing in Indian Banking <ul><li>Narasimham Committee Report </li></ul><ul><li>Financial Sector Reforms </li></ul><ul><li>IT Absorption and Networking </li></ul><ul><li>Reverse Merger of ICICI into ICICI Bank in 2003 </li></ul><ul><li>India Emerging as a Financial Services Hub </li></ul>
  5. 5. Concepts in Marketing <ul><li>Production Concept </li></ul><ul><li>Product Concept </li></ul><ul><li>Selling Concept </li></ul><ul><li>Marketing Concept </li></ul><ul><li>Societal Concept </li></ul>
  6. 6. Segmentation Strategies <ul><li>Concentrated Marketing: HNI Deposits, NRI Deposits, Corporate Clients </li></ul><ul><li>Segmented Marketing: Credit Cards, Educational Loans, Automobile Finance, SME Credit, SHG and Micro-Finance </li></ul><ul><li>Mass Marketing: SB Accounts, Current Accounts, jewel loans and other mass marketed products </li></ul>
  7. 7. Salesmanship in Banking <ul><li>Serving Customers at his Doorsteps </li></ul><ul><li>Impersonal Service for Mass Marketed Products </li></ul><ul><li>Personal Service for Niche Marketed Products </li></ul><ul><li>Financial Advisor, Investment Counsellor and Portfolio Manager </li></ul><ul><li>Developing qualities like resourcefulness, communication, understanding customer psychology…….. </li></ul>
  8. 8. Product Designing <ul><li>Tailor-made to the Market </li></ul><ul><li>Custom-made for the Special Customer </li></ul><ul><li>Regulatory Compliance </li></ul><ul><li>Avoiding Hidden Charges </li></ul><ul><li>Turnover Business Strategy </li></ul>
  9. 9. HR Training <ul><li>Computer and IT Skills </li></ul><ul><li>Understanding Consumer Psychology </li></ul><ul><li>Communicative Skills </li></ul><ul><li>Quantitative Aptitude </li></ul><ul><li>Exposure to Competitive Macro and Micro Environment </li></ul>
  10. 10. THANK YOU

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