STUDY OF ICICI MARKETING STRATEGIES OF FINANCIAL PRODUCTS by AKSHAT MAHENDRA

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PROJECT REPORT
ON
STUDY ON ICICI’s MARKETING STRATEGIES
OF
FINANCIAL PRODUCTS
BACHELOR OF COMMERCE (BANKING & INSURANCE)
SEMESTER – V
(2017-2018)
SUBMITTED
IN PARTIAL FULFILLMENT OF REQUIREMENT FOR THE
AWARD OF DEGREE OF
B.Com (Banking & Insurance)
BY
AKSHAT MAHENDRA
ROLL NO. - 32
BIRLA COLLEGE OF ARTS, SCIENCE & COMMERCE
MURBAD ROAD, KALYAN (W)

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BIRLA COLLEGE OF ARTS, SCIENCE & COMMERCE, KALYAN
(Conducted by Kalyan Citizens’ Education Society)
(Affiliated by University of Mumbai)
BACHELOR OF COMMERCE (BANKING & INSURANCE)
CERTIFICATE
This is to certify that AKSHAT MAHENDRA OF T.Y B.COM (BANKING
& INSURANCE) Semester V (2017-2018) has successfully completed the
project on “STUDY ON ICICI’s MARKETING STRATEGIES OF
FINANCIAL PRODUCTS” under the guidance of Prof. Anil Tiwari.
PROJECT SUPERVISOR:
COURSE CO-ORDINATOR:
INTERNAL EXAMINER
EXTERNAL EXAMINER
PRINCIPAL

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DECLARATION
I, AKSHAT MAHENDRA student of TY B.COM(BANKING & INSURANCE) Semester-V
(2017-2018) hereby declare that I have completed the project on “STUDY OF ICICI’s
MARKETING STRTEGIES ON FINANCIAL PRODUCTS”. I further declare that the
information imparted is true and fair to the best of my knowledge.
SIGNATURE
NAME :- AKSHAT MAHENDRA
ROLL NO :- 32

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ACKNOWLEDGEMENT
I hereby express my heartiest thanksto all sources whohave contributed to
the making of this project. I oblige thanks to all who supported, provided their
valuable guidance and helped for the accomplishment of this project.
I am thankful to Mumbai University for giving me such a challenging task to
explore the urbanization which includesnot only thinking and analyzing various
facts and updatesaboutreal work, our principal Dr. NARESH CHANDRA and
the course coordinator for having such wonderful course.
I am very much grateful to my project guide Prof. ANIL TIWARI who in spite of
busy schedule spent valuable time to guide me and helped in completion of this
project.
I also extent my hearty thanks to all my family members, friends and all
the well-wisher.

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Project synopsis
 BACKGROUND OF THESTUDY
ICICI Bank was originally promoted in 1994 by ICICI Limited, an Indian financial
institution, and was its wholly-owned subsidiary. ICICI's shareholding in ICICI Bank was
reduced to 46% through a public offering of shares in India in fiscal 1998, an equity offering
in the form of ADRs listed on the NYSE in fiscal 2000, ICICI Bank's acquisition of Bank of
Madura Limited in an all-stock amalgamation in fiscal 2001, and secondary market sales by
ICICI to institutional investors in fiscal 2001 and fiscal 2002. ICICI was formed in 1955 at
the initiative of the World Bank, the Government of India and representatives of Indian
industry. The principal objective was to create a development financial institution for
providing medium-term and long-term project financing to Indian businesses. In the 1990s,
ICICI transformed its business from a development financial institution offering only project
finance to a diversified financial services group offering a wide variety of products and
services, both directly and through a number of subsidiaries and affiliates like ICICI Bank. In
1999, ICICI become the first Indian company and the first bank or financial institution from
non-Japan Asia to be listed on the NYSE. After consideration of various corporate structuring
alternatives in the context of the emerging competitive scenario in the Indian banking
industry, and the move towards universal banking, the managements of ICICI and ICICI Bank
formed the view that the merger of ICICI with ICICI Bank would be the optimal strategic
alternative for both entities, and would create the optimal legal structure for the ICICI group's
universal banking strategy. The merger would enhance value for ICICI shareholders through
the merged entity's access to low-cost deposits, greater opportunities for earning fee-based
income and the ability to participate in the payments system and provide transaction-banking
services. The merger would enhance value for ICICI Bank shareholders through a large
capital base and scale of operations, seamless access to ICICI's strong corporate relationships
built up over five decades, entry into new business segments, higher market share in various
business segments, particularly fee-based services, and access to the vast talent pool of ICICI

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and its subsidiaries. In October 2001, the Boards of Directors of ICICI and ICICI Bank
approved the merger of ICICI and two of its wholly-owned retail finance subsidiaries, ICICI
Personal Financial Services Limited and ICICI Capital Services Limited, with ICICI Bank.
The merger was approved by shareholders of ICICI and ICICI Bank in January 2002, by the
High Court of Gujarat at Ahmedabad in March 2002, and by the High Court of Judicature at
Mumbai and the Reserve Bank of India in April 2002. Consequent to the merger, the ICICI
group's financing and banking operations, both wholesale and retail, have been integrated in a
single entity. ICICI Bank has formulated a Code of Business Conduct and Ethics for its
directors and employees.
 SIGNIFICANCE OF THE STUDY
The proposed study provides the much-needed information about the marketing strategies
which is collected by way of primary data from the source itself i.e. the employees. The study
will highlight the application of marketing principles to the marketing of banking services.
The study can be useful to private sector banks as well as to public sector banks. Due to time
constraint, it is not possible to cover all the ICICI Banks so it is prudent that one example
based on convenience will be taken for e.g. from Private sector-ICICI bank will be taken as
this bank is most dominant banks in its respective sector. The study will be specifically useful
to ICICI Bank to understand the reasons for the dissatisfaction among the customers and thus
to take corrective steps in improving their services further. This study will become a source of
information for future researchers to collect the data and information on the marketing of
banks services, and customer satisfaction. The study also gives clear-cut idea of the
methodology required to collect and analyze the data.
 RESEARCH PROBLEMS
Before implementation of reform measures, Indian Banking System was laden with several
weaknesses like low operational efficiency, inadequate Capital base, high NPAs, low

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profitability, unhealthy Balance Sheet and unsatisfactory customer service. Due to changes in
Banking policies and practice during the last 25 years of reform period, it is appropriate to
evaluate the impact of reform measures on the efficiency, profitability and overall
performance of Commercial Banks in both quantitative and qualitative aspects. By and large,
the studies conducted so far had confined to the economic aspects (on profitability) of bank’s
performance, while socio- economic factors did not receive the desired attention. Studies
were restricted to limited number of Banks, limited number of years and limited number of
indicators. Hence there is a need to undertake comprehensive study.
 OBJECTIVE OF THE STUDY
 To make a Critical analysis of marketing of banking services of ICICI Bank in India
particularly in the Financial Products.
 To evaluate innovative, dynamic and competitive nature of banking services,
particularly in ICICI Bank.
 To assess customer satisfaction with banking services.
 To highlight the problems involved in marketing of banking services of ICICI Bank.
 To offer suggestions and measures to solve the problems faced by banks in marketing
their services.
 SAMPLING MEHTOD
Survey method was used for the study. Both Primary and Secondary data were used for the study.
Primary data were collected from the customer respondents of ICICI Bank Ltd., through interview
schedule. Secondary data were collected from books, journals and the Annual Report of ICICI
Bank Ltd., from 2011-2016.
 ANALYSIS OF DATA
Primary data collected from the respondents is later analyzed in MS excel and data are
converted into different analysis formats such as average score analysis, gender wise

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percentage analysis, descriptive statistics, etc. All 9 variables are studied individually in
study of Variable.
 KEY FINDINGS
Proper Marketing Strategy will help ICICI Bank to make familiar of their Marketing
Products among the ultimate beneficiary (Clients) upto their best satisfaction considering
the recent entry of new players in banking sector. ICICI should put more focus on
Marketing in order to maintain its commanding position in Banking sector.
 SUGGESTIONS
Apart from having repute among Corporates and their employees, ICICI should put more
focus to have a major pie of rural customers also. This bank should put more focus on
effectively implementation of various Government’s welfare schemes. By this they may
serve larger section of society and will contribute their skill towards building a strong
nation.
 CONCLUSION
Effectively Marketing concludes only if it is implemented and executed profitably. Front
office staff should be capable to retain the customers. ICICI Bank’s internal policy should
be framed in such a manner that the last beneficiary i.e. customers’ need should not be
curtailed or restricted.

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Contents
1 Chapter 1: Introduction....................................................................................................17
1.1 Profile and Performance of ICICI BANK (Arthavitta, 2017) ...................................17
1.2 History (Website, n.d.) ..............................................................................................22
1.3 Introduction: Meaning and definition (Gupta, 2000)................................................23
1.4 Features/Characteristics (http://myyouthcareer.com, 2012) .....................................24
1.5 Origin and growth .....................................................................................................26
1.6 Swot Analysis of ICICI BANK (Gupta, 2000) .........................................................26
1.7 Recent trends and growing importance (SIDDIK, 2007)..........................................28
1.7.1 Electronic banking and its various forms...........................................................28
1.7.2 Forms of E-Banking...........................................................................................30
1.7.3 Mobile Banking..................................................................................................30
1.7.4 Tele Banking......................................................................................................31
1.7.5 Internet Banking.................................................................................................31
1.7.6 Internet Deployment ..........................................................................................31
1.7.7 E-Banking in India.............................................................................................32
1.7.8 ORGANIZATION STRUCTURE OF ICICI BANK ........................................32
1.7.9 VISION AND MISSION OF ICICI BANK ......................................................34
1.7.10 PRODUCTS AND SERVICES BANKING ACCOUNTS ...............................34
1.7.11 INSURANCE.....................................................................................................35
1.7.12 LOANS ..............................................................................................................35
1.7.13 CARDS ..............................................................................................................36

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1.7.14 INVESTMENT PRODUCTS ............................................................................37
1.8 Key challenges (Gupta, 2000)...................................................................................39
1.9 Statement of research problems (SIDDIK, 2007) .....................................................40
1.10 Objective of the study............................................................................................42
1.11 Chaptalization scheme ...........................................................................................42
2 Chapter 2: Review of literature........................................................................................43
2.1 Sankaran M (1999) (NAIR) ......................................................................................43
2.2 Abdullah D.N.M.A. and Rozario F. (2009) (http://shodhganga.inflibnet.ac.in) ......43
2.3 Hua G. (2009) (http://shodhganga.inflibnet.ac.in) ...................................................44
2.4 (SIDDIK, 2007).........................................................................................................44
2.5 Rao N. and Tiwari S. (2009) (http://shodhganga.inflibnet.ac.in).............................45
2.6 Udel (Udel, 1968).....................................................................................................45
2.7 Singh J D (1983) (NAIR).........................................................................................46
2.8 National Institute of Bank Management's study on deposit mobilization (1969)
(Bombay., (1969))................................................................................................................46
2.9 Hugar and Vaz (2008) (S.S. Hugar, 2008)..............................................................47
3 Chapter 3: Research methodology ...................................................................................47
3.1 Research design.........................................................................................................47
3.2 Sampling design........................................................................................................47
3.2.1 Target population...............................................................................................47
3.2.2 Sampling frame..................................................................................................48
3.2.3 Period of study...................................................................................................48

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3.3 Sample size................................................................................................................48
3.4 Data collection...........................................................................................................48
3.5 Structure of questionnaire .........................................................................................48
3.6 Format of questionnaire designed .............................................................................49
3.7 Questionnaire for Expert Advice...............................................................................51
3.8 Analytical Tools applied for the study ......................................................................53
3. Research ethics.................................................................................................................53
4 Chapter 4: Data analysis ..................................................................................................54
4.1 Average score............................................................................................................54
4.1.1 Testing of Hypothesis ........................................................................................55
4.2 Percentage analysis ...................................................................................................56
4.3 Gender vise percentage analysis ...............................................................................57
4.4 Descriptive statistics..................................................................................................58
4.5 AGEWISE AVERAGE SCORE ANALYSIS ..........................................................59
4.6 EDUCATION QUALIFICATIONWISE AVERAGE SCORE ANALYSIS...........60
4.7 EXPERIANCEWISE AVERAGE SCORE ANALYSIS .........................................60
4.8 CORRELATION ANALYSIS ON GENDER..........................................................61
4.9 Analysis of study variables .......................................................................................62
5 Chapter 5: Summary of findings......................................................................................67
6 Chapter 6: Suggestions and conclusion ...........................................................................71
7 Bibliography.....................................................................................................................74

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List of figures
List of Tables


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1 Chapter 1: Introduction
1.1 Profile and Performance of ICICI BANK (Arthavitta, 2017)
ICICI Bank (Industrial Credit and Investment Corporation of India) is an Indian multinational
banking and financial services company headquartered in Mumbai, Maharashtra, India, with
its registered office in Vadodara.
ICICI Bank Limited, together with its subsidiaries, provides banking and financial services in
India and internationally. It operates through Retail Banking, Wholesale Banking, Treasury,
Other Banking, Life Insurance, General Insurance, and Other segments. The company offers
savings, salary, pension, current, other accounts; and fixed, recurring, and security deposits. It
also provides home, car, two-wheeler, personal, gold, and commercial business loans, as well
as loans against securities and other loans; business loans, such as working capital finance,
term loans, collateral free loans, loans without financials, finance for importers and exporters,
and secured loans for credit card swipes, as well as loans for new entities, and schools and
colleges; and credit, debit, prepaid, travel, and corporate cards. In addition, the company
offers life, health, travel, car, two-wheeler, home, and student medical insurance products;
pockets wallet; fixed income products; investment products, such as mutual funds, gold
monetization schemes, and initial public offerings, as well as other online investment
services; and farmer finance, tractor loans, and micro banking services, as well as other
services to agri-traders and processors, and agri-corporates. Further, it provides portfolio
management, trade, foreign exchange, locker, private and NRI banking, and cash
management services; family wealth and dmat accounts; commercial banking, investment
banking, capital markets and custodial, project and technology finance, and institutional
banking services, as well as Internet, mobile, and phone banking services. Additionally, the
company offers securities investment, broking, trading, and underwriting services; and
merchant banking, private equity/venture capital fund management, trusteeship, and pension
fund management services. As of March 31, 2017, it had a network of 4,850 branches and
13,882 ATMs.
ICICI Bank offers a wide range of banking products and financial services to corporate and
retail customers through a variety of delivery channels and through its specialized
subsidiaries and affiliates in the areas of investment banking, life and non-life insurance,
venture capital and asset management. The Bank currently has, subsidiaries in the United
Kingdom, Russia and Canada, branches in United States, Singapore, Bahrain, Hong Kong,

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Sri Lanka, Qatar and Dubai International Finance Centre and representative offices in United
Arab Emirates, China, South Africa, Bangladesh, Thailand, Malaysia and Indonesia. Our UK
subsidiary has established branches in Belgium and Germany. ICICI Bank has over 15
million customers accounts. ICICI Bank's equity shares are listed in India on Bombay Stock
Exchange and the National Stock Exchange of India Limited and its American Depositary
Receipts (ADRs) are listed on the New York Stock Exchange (NYSE).
 ICICI GROUP COMPANIES:
ICICI Bank offers a wide range of banking products and financial services to corporate and
retail customers through a variety of delivery channels and through its group companies.
ICICI Group
http://www.icicigroupcompanies.com
ICICI Prudential Life Insurance Company
http://www.iciciprulife.com/public/default.htm
ICICI Securities
http://www.icicisecurities.com
ICICI Lombard General Insurance Company
http://www.icicilombard.com
ICICI Prudential AMC & Trust
http://www.icicipruamc.com
ICICI Venture
http://www.iciciventure.com
ICICI Direct
http://www.icicidirect.com
ICICI Foundation
http://www.icicifoundation.org

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Disha Financial Counselling
http://www.icicifoundation.org
ICICI Bank also has banking subsidiaries in UK and Canada
 BOARD OF DIRECTORS:
ICICI Bank's Board members include eminent individuals with a wealth of experience in
international business, management consulting, banking and financial services.
 Board Members: (As on 30 June, 2017)
Mr. M. K. Sharma, Chairman
..............................................
Mr. Dileep Choksi
..............................................
Mr. Homi R. Khusrokhan
..............................................
Dr. Tushaar Shah
..............................................
Mr. V. K. Sharma
..............................................
Mr. V. Sridar
..............................................
Mr. Amit Agrawal
Ms. Chanda Kochhar,
Managing Director & CEO
...........................................
Mr. N. S. Kannan,
Executive Director
...........................................
Ms. Vishakha Mulye,
Executive Director
...........................................
Mr. Vijay Chandok,
Executive Director
...........................................
Mr. Anup Bagchi,
Executive Director

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BOARD COMMITTEE:
Audit Committee
Board Governance Remuneration &
Nomination Committee
Mr. Homi R. Khusrokhan,Chairman
Mr. Dileep Choksi, Alternate Chairman
Mr. V. Sridar
Mr. Homi R. Khusrokhan, Chairman
Mr. M. K. Sharma
Mr. V. K. Sharma
Corporate Social Responsibility
Committee
Customer Service Committee
Dr. Tushaar N. Shah,Chairman
Ms. Chanda Kochhar
Mr. Dileep Choksi
Mr. Amit Agrawal
Mr. V. Sridar,Chairman
Ms. Chanda Kochhar
Dr. Tushaar Shah
Mr. Anup Bagchi
Credit Committee Fraud Monitoring Committee
Mr. M. K. Sharma, Chairman
Ms. Chanda Kochhar
Mr. V. Sridar, Chairman
Mr. Dileep Choksi
Ms. Chanda Kochhar
Mr. Anup Bagchi
Risk Committee
Share Transfer & Shareholders'/
Investors' Grievance Committee
Mr. M.K. Sharma, Chairman
Mr. Dileep Choksi
Mr. V. K. Sharma
Mr. V. Sridar
Ms. Chanda Kochhar
Mr. V. Sridar
Mr. N. S. Kannan
Committee of Executive Directors Information Technology Strategy
Committee
Managing Director & CEO, Chairperson
Any Two Independent Directors
Mr. V. Sridar
Ms. Chanda Kochhar

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Figure 1 :- Geographical areas
 Haryana
 Mumbai
 Chennai
 Bangalore
 Delhi
 Karnataka
 Bihar
 Orissa

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1.2 History (Website, n.d.)
ICICI Bank was originally promoted in 1994 by ICICI Limited, an Indian financial
institution, and was its wholly-owned subsidiary. ICICI's shareholding in ICICI Bank
was reduced to 46% through a public offering of shares in India in fiscal 1998, an
equity offering in the form of ADRs listed on the NYSE in fiscal 2000, ICICI Bank's
acquisition of Bank of Madura Limited in an all-stock amalgamation in fiscal 2001,
and secondary market sales by ICICI to institutional investors in fiscal 2001 and fiscal
2002. ICICI was formed in 1955 at the initiative of the World Bank, the Government
of India and representatives of Indian industry. The principal objective was to create a
development financial institution for providing medium-term and long-term project
financing to Indian businesses.
In the 1990s, ICICI transformed its business from a development financial institution
offering only project finance to a diversified financial services group offering a wide
variety of products and services, both directly and through a number of subsidiaries
and affiliates like ICICI Bank. In 1999, ICICI become the first Indian company and
the first bank or financial institution from non-Japan Asia to be listed on the NYSE.
After consideration of various corporate structuring alternatives in the context of the
emerging competitive scenario in the Indian banking industry, and the move towards
universal banking, the managements of ICICI and ICICI Bank formed the view that
the merger of ICICI with ICICI Bank would be the optimal strategic alternative for
both entities, and would create the optimal legal structure for the ICICI group's
universal banking strategy. The merger would enhance value for ICICI shareholders
through the merged entity's access to low-cost deposits, greater opportunities for
earning fee-based income and the ability to participate in the payments system and
provide transaction-banking services. The merger would enhance value for ICICI
Bank shareholders through a large capital base and scale of operations, seamless
access to ICICI's strong corporate relationships built up over five decades, entry into
new business segments, higher market share in various business segments, particularly
fee-based services, and access to the vast talent pool of ICICI and its subsidiaries.
In October 2001, the Boards of Directors of ICICI and ICICI Bank approved the
merger of ICICI and two of its wholly-owned retail finance subsidiaries, ICICI
Personal Financial Services Limited and ICICI Capital Services Limited, with ICICI
Bank. The merger was approved by shareholders of ICICI and ICICI Bank in January
2002, by the High Court of Gujarat at Ahmedabad in March 2002, and by the High
Court of Judicature at Mumbai and the Reserve Bank of India in April 2002.
Consequent to the merger, the ICICI group's financing and banking operations, both
wholesale and retail, have been integrated in a single entity. ICICI Bank has
formulated a Code of Business Conduct and Ethics for its directors and employees.

23
1.3 Introduction: Meaning and definition (Gupta, 2000)
ICICI Bank Limited is an Indian diversified financial services company headquartered in
Mumbai, Maharashtra. It is the second largest bank in India by assets and third largest by
market capitalization. It offers a wide range of banking products and financial services to
corporate and retail customers through a variety of delivery channels and through its
specialized subsidiaries in the areas of investment banking, life and non-life insurance,
venture capital and asset management. The Bank has a network of 2,630 branches and 8,003
ATM's in India, and has a presence in 19 countries, including India. The bank has
subsidiaries in the United Kingdom, Russia, and Canada; branches in United States,
Singapore, Bahrain, Hong Kong, Sri Lanka, Qatar and Dubai International Finance Centre;
and representative offices in United Arab Emirates, China, South Africa, Bangladesh,
Thailand, Malaysia and Indonesia. The company's UK subsidiary has established branches in
Belgium and Germany.
ICICI Bank is India’s largest private sector bank in market capitalization and second largest
overall in terms of assets. The bank has a network of 1,626 branches and about 4,883 ATMs
in India and presence in 18 countries. The industrial credit and investment corporation of
India limited (ICICI) was incorporated in1955 at the initiative of World Bank, the
government of India and representatives of Indian industry, with the objective of creating a
development financial institution for providing medium – term and long- term project
financing to Indian businesses. A. Ramaswami Mudaliar is selected as the first chairman of
ICICI limited. CHANDA KOCHHAR is currently managing director and CEO of ICICI
Bank. Kochhar has also consistently figured in fortune’s list of “Most Powerful Women in
Business” since 2005.

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1.4 Features/Characteristics (http://myyouthcareer.com, 2012)
BANKING plays an important role in every country for their economic growth as well as
currency factor. Majority Development for a country depends on banking sector as banks
maintain the competition between currency of many of the developed and developing
countries 7 their work is always attached directly with people’s heart as they store there hard-
core painstaking money in their hands for saving as well as they borrow money from banks
which is known as LOAN. This Scheme helps people building their HOMES & business as
well as their general requirement like CARs, LCDs, home decoration or maintenance Etc.
BANKING involves following characteristics as written: -
 DEALING IN MONEY
 ACCEPTANCE OF MONEY DEPOSITS
 PAYMENT AND WITHDRAWS MONEY
 INDIVIDUAL OR COMPANIES
 VARIOUS BRANCHES
 FUNCTION INCREASING RAPIDLY
 BUSINESS IN BANKING SECTOR
 IDENTIFICATION
 FACILITIES OF ADVANCE MONEY
 DEALING IN MONEY
 All banks basically deal with money as they are financial institute where we link for
our moneys exchanges we will either gave or deposit money in banks or will
led/barrow money from banks for our requirement as per we need.
 ACCEPTANCE OF MONEY DEPOSITS
 All banks always work for their consumer satisfaction as a result they accept money from all
their customers in a way there they also gave an Interest on deposited with the duration
passed to money in bank. Banks deposits money from peoples & after that the protection of

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money is the responsibility of banks any misfortune happens to the consumers money will be
returned by banks to customer within a given period of time.
 PAYMENT AND WITHDRAWS
 A person who has deposit their money into bank can able to withdraw it at any time of
instance. A customer can also able to easy payment & withdraw their money with the
facilities of ATM, DRAFTS, MONEY ORDERS, CHEQUES etc.
 INDIVIDUAL OR COMPANIES
 Bank can be of any type it can be a company or firm or also a person which are
involved in the business of money. This is also how banks are defined.
 VARIOUS BRANCHES
 A bank can also have multiple branches for the facility of their customers as every
person cannot be able to go to the main branch of an Bank so banks further grows
their own branches so that they can reach to each and every person.
 FUNCTIONS INCREASING
 BANKS always believe in developing of facilities for the customers so that they
always increase their functions for working like developing latest ATM machines for
the transactions of money and net banking by which customers can do various
transactions without visiting branch/ATM.
 BUSINESS IN BANKING
 BANKS do the business of money without any subsidiary business. There only
responsibility is to satisfy their customers. this is also how banks define as they do the
business of money interchanging from one hand to other.
 IDENTIFICATION
 Each bank has a unique name but having BANK name as common in all. which
identifies the banks existence. People deals with different banks having different
names but bank word in common in all of them.

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 FACILITY OF ADVANCE
 Banks also lend money to the people in a form of loan with respective rate of interest.
People which are not able to full fill their requirements at an instance of time which
required a large amount of money at that time banks lend money to them so that they
full fill there reequipment’s and returns in small installment which are known as
EMIs.
1.5 Origin and growth
Objective of Study
The main objectives of this project are the following:
 To make a Critical analysis of marketing of banking services of ICICI Bank in India
 To evaluate innovative, dynamic and competitive nature of banking services, particularly in
ICICI Bank.
 To assess customer satisfaction with banking services.
 To highlight the problems involved in marketing of banking services of ICICI Bank.
 To study SWOT analysis of ICICI BANK.
 To study about Marketing Strategies on Financial Products of ICICI BANK
1.6 Swot Analysis of ICICI BANK (Gupta, 2000)
Introduction to SWOT analysis.
The overall evaluation of the company’s Strength, Weakness, Opportunities and Threats is
called as SWOT Analysis. The external environment analysis of any business will give you
the opportunities and threats facing the business. The external environment consists of two
parts:
STRENTH
•Right strategy for the right products.
• Superior customer service v/s competitors.
•Great Brand Image
•Products have required accreditations.
•High degree of customer satisfaction.
•Good place to work

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WEAKNESS
•Lower response time with efficient and effective service
•Some gaps in range for certain sectors.
•Customer service staff needs training.
•Processes and systems, etc.
•Management covers insufficient.
OPPORTUNITIES
•Profit margins will be good.
•Could extend to overseas broadly.
•New specialist applications.
•Could seek better customer deals
• Fast – track career development opportunities on an industry – wide basis
.
THREATS
•Legislation could impact.
•Great risk involved
•Very high competition prevailing in the industry.
•Vulnerable to reactive attack by major competitors
•Lack of infrastructure in rural areas could constrain investment
•High volume/low cost market is intensely competitive.

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1.7 Recent trends and growing importance (SIDDIK, 2007)
1.7.1 Electronic banking and its various forms
Banking is done through electronic systems for customer’s transactions (front office
computerization) and /or internal accounting and book-keeping (back office computerization), as
against the traditional manual system. The new private sector banks, which began operating in
1994 with front office and back office computerization, spurred a trend towards complete-
computerization and electronic banking in public sector banks.
Today, all banks have computerized front offices in metros/cities and their back office and
information management systems are also fast getting computerized. Recent advancements in
information and communication technologies have virtually replaced manual banking with
electronic banking. Electronic banking has enabled banks to improve their customer service
quality by speeding up most of the routine banking transactions and by providing ‘anywhere,
anytime banking’. New banking channels are opened up in the form of ATMs, Tele-Banking and
Internet Banking, although the conventional ‘brick and mortar’ banking is also available at all
branches.
Electronic Banking has also improved internal book-keeping and management information
systems of the banks. Inter-connectivity between the branches is also done to achieve economy,
centralizing the core banking operations on a common electronic platform, enabling the banks to
achieve economies of scale and to further improvise ‘anywhere banking’. Electronic banking
makes use of electronic currency. Check cards or debit cards, smart cards or stored-value cards,
digital cash and digital checks are the different types of electronic currency. If you use a check
card to make purchases, the funds are transferred immediately from your account to the store’s
account. Smart cards have a specific amount of credit embedded in it. The chip in the card
contains both personal and financial information. Digital checks are used with electronic bill
paying services. Consumers could use personal finance software packages or use software

29
provided by a bank. On line banking or PC banking offers a wider outreach for smaller
institutions. Electronic banking offers consumers the convenience of accessing and transferring
funds between their accounts, paying their bills and other purchase, twenty four hours a day,
seven days a week.
Automated Teller Machine (ATMs) have become very popular for dispensing cash to
customers on-site and off-site, 24 hours a day, 365 days a year. However, these have certain
limitations as regards quantum of withdrawals and denomination of notes disbursed. Further,
these do not issue cheques books or drafts, like a teller/assistant at the bank counter, does not can
these respond to an un-programmed query of a customer. These do not have a human face, nor do
these show any empathy to a customer who has run into some problem. Mobile Banking goes to
the customers for banking transactions, rather than the other way round (as in conventional
banking). Mobile banks have either computerized system or manual banking system. In either
case, it reaches the customers on designated days/hours on specified places. It involves less
capital investment, but has problems of security and safety, unlike a conventional branch, which
provides safety, security and comfort coupled with complete banking facilities.
Tele banking provides ‘anywhere and anytime’ banking, but only to a limited extent. It
provides general information about the account to a customer, but it too does not issue a cheques
book or a draft instantly, which is possible in branch banking. Internet banking enables customers
to access and view their ledger accounts and make limited transfer of funds from one account to
another. However, Internet banking has not yet gained momentum in India, as it requires certain
infrastructure, which is not yet possessed by most customers. There are certain issues that require
to be tackled before it gains popularity in cities and towns. Electronic Funds Transfer has made
fund-transfer from one center to another in the same country or to another country faster and
safer. Electronic Clearing System has enabled the banks abroad to handle the clearing of cheques
and interbank settlement faster and in large volumes.

30
In India the clearing system is not fully automated. This results in credit clearance to
customer’s accounts being done on the third day after the cheque is deposited. Electronic
credit/debit systems have saved the customers from the tedium involved in receiving/making
payments by cheques. The corporate and banks also prefer to adopt this hassle-free, cheque-less
system of payments and receipts, by issuing mandates to the bankers for making periodic
payments from accounts of the specified company.
1.7.2 Forms of E-Banking
• Mobile Banking
• Tele Banking
• ATM
• Internet Banking
1.7.3 Mobile Banking
Technology has a major impact in helping banks service their customers with the
introduction of Internet banking. It helps to give the customer’s anytime access to their banks.
Customers could check out their account details, get their bank statements, perform transactions
like transferring money to other accounts and pay their bills sitting in the comfort of their homes
and offices. However the biggest limitation of internet banking is the requirement of a PC with an
internet connection. Mobile banking address this fundamental limitation of internet banking, as it
reduces the customer requirement to just a mobile phone. The main advantage of mobile
Banking over internet banking is that it enables ‘Anywhere Banking’.
Customers now do not need access to a computer terminal to access their banks, they
could do so on the go – when they are waiting for their bus to the work place, when they are
traveling or when they are waiting for their orders to come through in a restaurant.

31
1.7.4 Tele Banking
In the current fast and active pace of our society, most people have less or no time to go
through the hassles of going to the bank just to perform some simple transactions / inquiries. As
such, telebanking through the telephone is the perfect solution for people on the go. Telebanking
system is an Interactive Voice Response (IVR) application, which uses a telephone to access
information from a database. It is an easy to use, cost effective and innovative solution designed
to meet user needs for electronic banking application. It provides communication between
information in IVRS system and off-site telephone caller/Customer. This solution bridges the gap
between digital data and human modality of listening and speaking. Tele Banking eases the hassle
of going to the Bank or any Automatic Teller Machines(ATMs) to perform day-to-day banking
transactions.
1.7.5 Internet Banking
The Internet banking indicates the technological development in the banking industry.
Financial institutions started "home banking" business via a touch- tone telephone in the 1970s.
Cable television was introduced in the 1970s. Cable television was considered as a possible
medium for home banking in the 1980s. This approach solved the graphic limitations of the
telephone. However, it had drawback the absence of two-way communication. Later, the PC
provided both visual display and two - way communication. It has been considered an ideal
device for modern banking medium.
1.7.6 Internet Deployment
To carryout transactions that are internal to a bank, between the bank and its branches and
subsidiaries, intranet deployment in banking is required. Extranet permits a bank to have full
control over the users of intranet and information to be transmitted. The integration of the internal
and external communications of banking related information through banking internet and

32
intranet for the development of the financial sector requires extensive working on the part of the
bankers.
1.7.7 E-Banking in India
In banking industry, e-services are revolutionizing the way business is conducted. Electronic
based business models are replacing conventional banking system and almost of banks are
rethinking business process designs and customer relationship management strategies. It is also
known as e-banking, online banking which provides various alternative e-channels to using
banking services i.e. ATM, credit card, debit card, internet banking, mobile banking, electronic
fund transfer, electronic clearing services etc. however, in the Indian e-banking scenario ATM is
more acknowledged than other e-channels.
The first bank to introduce the ATM concept in India was the Hong Kong and
Shanghai Banking Corporation (HSBC) in the year 1987 followed by Bank of India in 1988.
According to the R.B.I. annual report (2010-11) almost commercial banks are providing ATM
facilities to its customers and to date there are 45,520 ATMs installed by public sector banks and
32,480 ATMs installed by private sector banks in India. ICICI Bank Ltd., is the first bank
introduce the ATM transaction in India, therefore this bank got the important place in the process
of technological revolution undergoing in our country moreover it is the largest private bank of
the country.
1.7.8 ORGANIZATION STRUCTURE OF ICICI BANK
.
 Retail banking.
 Wholesale banking
 Project finance and special assets management
 International business
 Corporate bank

33
Retail banking is banking in which banking institutions execute transactions directly with
consumers, rather than corporations or other banks. Services offered include savings and
transactional accounts, mortgages, personal loans, debit cards, and credit cards.
Wholesale banking is the provision of services by banks to the likes of Mortgage Brokers,
large corporate clients, mid-sized companies, real estate developers and investors,
international trade finance businesses, institutional customers (such as pension funds and
government entities/agencies), and services offered to other banks or other financial
institutions.
Project finance is the medium- to long-term financing of infrastructure and industrial
projects based upon the projected cash flows of the project rather than the balance sheets of
the project sponsors.
Special assets management
1. The management of a client's investments by a financial services company, usually an
investment bank. The company will invest on behalf of its clients and give them
access to a wide range of traditional and alternative product offerings that would not
be to the average investors.
2. An account at a financial institution that includes checking services, credit cards,
debit cards, margin loans, the automatic sweep of cash balances into a money market
fund, as well as brokerage services.
 An International Banking Facility (IBF) is a separate account established by a U.S.
bank, or a US branch/subsidiary of a foreign bank, or an Edge Act Corporation in the
United States to offer services to only non-US residents and institutions. The services
offered include deposit and loan services. (Note, an IBF is not necessarily a separate
legal entity.)
 One Corporate Centre is an office skyscraper in Pasig City, Metro Manila,
Philippines. It is the 13th-tallest building in the country and Metro Manila as well
with a height of 202 meters (662.73 feet) [3] from ground to tip of architectural
antenna. The building has 45 floors above ground including 7 floors for commercial
purposes, and 9 basement levels for parking

34
1.7.9 VISION AND MISSION OF ICICI BANK
1.7.9.1 VISION
 To ensure most cost effective power for sustained growth of India.
 To provide clean and green power for secured future of countrymen
 Constituent associates & stakeholders.
 To continuously upgrade & update knowledge & skill set of its human resources.
 To achieve excellence in every activity we undertake
1.7.9.2 MISSION
We will leverage our people, technology, speedand financial capital to:
 Expand the frontiers of our business globally.
 Play a proactive role in the full realization of India’s potential.
 Maintain high standards of governance and ethics.
 Create value for our stakeholders.
 To ensure most cost effective power for sustained growth of India.
 To provide clean and green power for secured future of countrymen.
 To achieve excellence in every activity we undertake
1.7.10 PRODUCTS AND SERVICES BANKING ACCOUNTS
1.7.10.1ACCOUNT
ICICI Bank offers a wide range of banking accounts such as Current, Saving, Life Plus
Senior, Recurring Deposit, Young Stars, Salary Account etc. tailor-made for every customer
segments, from children to senior citizens. Convenience and ease toaccess are the benefits ofICICI
Bank accounts.
 YOUNG STARS ACCOUNT
A special portal for children to learn banking basics, manage personal finances and have alot of fun.

35
 BANK@CAMPUS
This student banking services gives students access to their account details at the click of a
mouse. Plus, the student gets a cheque book, debit card and annual statements.
 SAVINGS ACCOUNT
Convenience is the name of the game with ICICI bank’s savings account.
Whether it is an ATM/debit card, easy withdrawal, easy loan options or internet
banking, ICICI bank’s saving account always keep you in touch of money.
 FIXED DEPOSITS
ICICI Bank offers a range of deposit solutions to meet varying needs at every
stage of life. It offers a range of tenures and other features to suit all requirements.
1.7.11 INSURANCE
The ICICI group offers a range of insurance products to cover varying needs
ranging from life, pensions and health, to home, motor and travel insurance. The Products are made
accessible to customers through a wide network of advisors, banking partners,
corporate agents and brokers with the added convenience ofbeing able to buy online.
 LIFE INSURANCE
The ICICI group provides the many life insurance products through ICICI Prudential Life
Insurance Company.
 GENERALINSURANCE
The ICICI group provides the many general insurance products like motor, travel and
home insurance through ICICI Lombard General Insurance Company.
1.7.12 LOANS
ICICI bank offers a range of deposits solutions to meet varying needs at every stage of life. It
offers a range of tenures and other features to suit all requirements.

36
 HOME LOANS
The No. 1 Home Loans Provider in the country, ICICI Bank Home Loans offers some unbeatable
benefits to its customers - Doorstep Service, Simplified Documentation and Guidance
throughout the Process. It’s really easy!
 PERSONAL LOANS
ICICI Bank Personal Loans are easy to get and absolutely hassle free. With
minimum documentation you can now secure a loan for an amount up toRs. 15lakhs.
 VEHICLE LOANS
The No. 1 financier for:-
1. Car loans
Network of more than 2500 channel partners in over 1000 locations. Tie-ups with
all leading automobile manufacturers to ensure the best deals. Flexible schemes &
Quick processing is the main advantages are here. Avail attractive schemes at competitive
interest rates from the No 1 Financier for
2. Two wheelers loans
Finance facility up to 90% of the on Road Cost of the vehicle, repayable in convenient
repayment options and comfortable tenors from 6months to36months.
1.7.13 CARDS
ICICI Bank offers a variety of cards to suit different transactional needs. Its
range includes Credit Cards, Debit Cards and Prepaid cards. These cards offer you
convenience for financial transactions like cash, withdrawal, shopping and travel. These cards
arewidelyacceptedbothinIndiaandabroad.
 CREDIT CARD
ICICI Bank Credit Cards give you the facility of cash, convenience and arrange of benefits,
anywhere in the world. These benefits range from lifetime free cards, Insurance benefits,
global emergency assistance service, discounts,utilitypayments, traveldiscounts andmuchmore.

37
 DEBIT CARD
The ICICI Bank Debit Card is a revolutionary form of cash that allows customers
to access their bank account around the clock, around the world. The ICICI Bank Debit
Card can be used for shopping at more than 3.5 Lakh merchants in India and 24 million merchants
worldwide.
 TRAVEL CARD
ICICI Bank Travel Card. the Hassel free way to travel the world. Traveling with US Dollar,
Euro, Pound Sterling or Swiss Francs; Looking for security and convenience; take
ICICI Bank Travel Card. Issued in duplicate. Offers the Pin based security. Has the convenience of
usageofCreditorDebitcard.
1.7.14 INVESTMENT PRODUCTS
Along with Deposit products and Loan offerings, ICICI Bank assists customers to
manage their finances by providing various investment options ranging from
ICICI Bank Tax Saving Bonds to Equity Investments through Initial Public Offers
and Investment in Pure Gold. ICIC Bankfacilitatesfollowinginvestment products:
•GovernmentofIndiaBonds
•InvestmentinMutualFunds
•Initial PublicOffersbyCorporate
•Investmentin"PureGold"
•ForeignExchangeServices
•SeniorCitizensSavingsScheme
 TRADE SERVICES: ICICI Bank offers online remittances as we ll a s onlineprocessingof
lettersofcreditandbankguarantees.
 ASSET MANAGEMENT: Prudential ICICI Asset Management Company offers a wide
range of retail mutual fund products tailored to suit variedriskandmaturityprofiles.
 CASH MANAGEMENT: ICICI Bank offers a complete Range Of highly customized
solutions for managing both the collections and payments requirements of clients by

38
leveraging technology. Daily customized transactions reports and real time web-
enabled downloads, provide on-tap information facilitating effective working capital
management.
 CORPORATE BANKING: ICICI Bank offers comprehensive and customized
financial solutions for its corporate clients, including rupee and foreign currency
debts, working capital credit, structured financing syndication and transaction
bankingproductsandservices.
 INTERNET BANKING: Internet banking is available to all ICICI Bank savings and
deposit account holders, credit card, demat and loan customers. Internet banking
service offers customers a world of convenience with services such as balance
enquiry, transaction history, account statement, bill payments, and fund
transfers and accounts related service requests.
 ATMS: With more than 13000 ATMs across the country, ICICI Bank has one of the largest
ATMnetworksinIndia.
 PHONE BANKING: Phone banking offers 24*7 services across Liability, asset and
investment productsto bothretailandcorporatecustomers.
 NRI-BANKING:A gamut of services to take care of all NRI banking needs including
deposits, money transfers and private banking.
 MONEY2INDIA:A complete range of online and offline money transfer solutionsto
sendmoneyto India.
 PROPERTY: For millions of home buyers across the country, ICICI Bank
offers not just great deals on home loans but also a wealth of expert
advice. ICICI Bank offers home search service which can help a customer
identify the propertyofhischoicebasedonhisbudgetandotherrequirements.

39
 EMAT ACCOUNTS: ICICI Bank’s demat services offer unique features like e-
constructions, consolidation, digitally signed statements, mobile requests and
corporatebenefittracking.
 RURAL BANKING: Bank offers technology-based solutions, financial innovations
and multiple delivery channels to meet the financial needs of rural areas.
1.8 Key challenges (Gupta, 2000)
ICICI Bank Ltd.’s takeover of Bank of Rajasthan Ltd (BOR) will have to clear a new
regulatory hurdle before it can be completed, according to a senior official in the
industry ministry. Most banking mergers can move ahead once they get a green signal
from the Reserve Bank of India (RBI), but the deal between India’s largest private
sector lender and the troubled regional bank will need to be cleared by the
government as well because of the provisions of a controversial policy that categorizes ICICI
Bank as a foreign-owned one; despite its local presence and Indian management. “The
merger needs the approval of the FIPB (Foreign Investment Promotion Board) under Press
Note 3. Under the Press Note 3 of 2009 series, if the ownership of an existing Indian
company is transferred to a nonresident entity, because of transfer of shares
to nonresident entities through amalgamation, merger or acquisition, then it would
require FIPB approval. Private sector lenders ICICI Bank and HDFC Bank Ltd were defined
as foreign-owned under the new rules since more than half their equity is owned by
foreign entities, including foreign institutional investors, who have no board presence or say
in company policy. This regulation is applicable in sectors with foreign direct
investment (FDI) caps, such as defence production, private sector banking,
broadcasting, commodity exchanges, insurance, print media, telecommunications
and satellites, according to the press note. Any foreign firm trying to gain control of local
companies needs the prior approval of FIPB.
The growth in the balance sheet has come to a complete halt compared to a
40% average annual growth it posted in the period from 2005-08. The size of bank's balance
sheet declined by 5.1% in FY 2009. In the days of the economic boom, the bank's growth was
fueled by an unprecedented growth in retail loans. In fact, even at the end of FY 2009, retail
loans constituted 49% of its total loan book – the highest for any bank in India. As the

40
slowdown started making its presence felt in the Indian economy, the retail loan segment
became rather risky. Interestingly, what had made the bank is today causing it a great deal of
concern.
Feeling the heat, ICICI Bank, wisely, made it clear last year that more attention will be given
to cleaning its books and taking stock of the situation than to grow. Not surprisingly, there is
merit in paying more attention to its rising non-performing assets (NPA). The bank's net NPA
jumped from 1.55% of its net advances at the end of March 08 to 2.09% at the end of March
09. At current levels, it has the highest NPAs, in percentage terms, across large banks in the
country
1.9 Statement of research problems (SIDDIK, 2007)
The crux of the earlier studies has revealed that automated service quality has been
identified to have a significant importance in the financial performance of a bank. The current
study extends the previous study and investigates whether there is any relationship between
automated service quality and customer satisfaction with the financial performance of a bank
along with the satisfaction level of the customer on the services provided by the ICICI Bank Ltd.,
ATM, telephone banking, internet banking, price, and core service, five factors of
automated service quality of a bank are the key components of the financial performance of a
bank. In the general literature, service quality and customer satisfaction have often been identified
as significant predictors of business performance. Therefore, this study explores how perceived
quality of automated service and level of customer satisfaction are related to profitability of the
bank.
Technology, however has had a remarkable influence on the growth of service delivery
options. There are several competitive advantages associated with the adoption of technology in
service organizations, including the creation of entry barriers, enhancement of productivity, and
increased revenue generation from new services Service quality is one of the main factors that
determines the success or failure of electronic commerce. However, automated service quality has

41
tended to lag behind because practitioners have focused mainly on issues of usability and
measurement of use, with little consideration for the outcomes.
Bank’s customers come from different strata of the society. These customers belong to
different economic, cultural and social back grounds, with heterogeneous attitudes, and
expectations and influenced by the environmental background of the customers. In a developing
economy, people migrating from the rural and semi-urban localities to the metropolitan cities in
search of opportunities cannot be ignored. They add to an overall development including service
sector. Moreover, economic liberalization has resulted in the growth of private sector especially
in the field of banking. In today’s market economy, the customer is the king and only the more
focused customer oriented services will survive. The Customer perceives a product of service
from cost benefit analysis.
Satisfying the needs of heterogeneous customers is indeed a difficult task. Development in
the field of IT and ITES offer solution to this problem. Hence the role of banking has expanded
incredibly, banks are also have equipped immensely with the help of IT development in
unleashing the services in better way to their consumers in such context number of studies have
been carried out to find out the consumer satisfaction of the bank customer in order to enhance
the service, most of the studies have revealed that the IT development has better impact on the
service delivery but the propose study would like to encompass all the spheres of the banking
services in assessing the service delivery and the satisfaction level of the customer, hence it is
very much imperative to explore the consumer satisfaction at multi-dimensional level.
Therefore, this study aims to investigate whether significant relationship exist among the
automated service quality, the customer satisfaction and the financial performance and the level
of consumer satisfaction on the various services provided by the ICICI bank Ltd extensively and
holistically.

42
1.10 Objective of the study
 To make a Critical analysis of marketing of banking services of ICICI Bank in India
 To evaluate innovative, dynamic and competitive nature of banking services,
particularly in ICICI Bank.
 To assess customer satisfaction with banking services.
 To highlight the problems involved in marketing of banking services of ICICI Bank.
 To offer suggestions and measures to solve the problems faced by banks in marketing
their services.
1.11 Chaptalization scheme
The report of the research work is presented in five chapters as given below;
First Chapter deals with the design and execution of the study which includes the introductory
note, justification and selection of the study, statement of the research problem, objectives,
methodology and chaptalization.
Second Chapter deals with the review of literature of the related studies - the literature review
part divided into three categories namely studies pertaining to customer satisfaction, E-banking
Marketing strategies, and ATMs service delivery.
Third Chapter deals with the profile and performance of ICICI Bank Ltd.,
Fourth Chapter gives an extensive analysis of customer satisfaction of the services of ICICI
Bank Ltd., including ATM services.
Fifth Chapter brings out the summary of major findings, suggestions and conclusion of the
study.

43
2 Chapter 2: Reviewof literature
2.1 Sankaran M (1999) (NAIR)
Sankaran M (1999) studied the measures that would help domestic players in financial
services sector to improve their competitive efficiency, and thereby to 56 Review of
Literature reduce the transaction costs. The study found that the specific set of sources of
sustainable competitive advantage relevant for Financial Service Industry are: a) product and
process innovations, b) brand equity, c) positive influences of 'Communication Goods', d)
corporate culture, e) experience effects, f) scale effects, and g) information technology
 Variable is: - services
Q 1) The quality of services provided to you in case of having any query by bank are
2.2 Abdullah D.N.M.A. and Rozario F. (2009)
(http://shodhganga.inflibnet.ac.in)
Abdullah D.N.M.A. and Rozario F. (2009) study the influence of service, interest and
product quality towards customer satisfaction. 149 respondents from one of the well-known
hotel in Kuala Lumpur, Malaysia are selected as a sample. Psychometric testing is conducted
to determine the reliability and validity of the questionnaire. The study finds positive
significant relationship between place/ambience and service quality with customer
satisfaction. Although, relationship between food quality and customer satisfaction is
significant, it is in the negative direction. Future researchers can concentrate on determining
attributes that influence customer satisfaction when cost/price is not a factor and reasons for
place/ambience is currently becoming the leading factor in determining customer satisfaction.
 Variable is: - interest
 Q 2) What you think the interest charged on home loans is

44
2.3 Hua G. (2009) (http://shodhganga.inflibnet.ac.in)
Hua G. (2009) investigates the online banking acceptance in China by conducting an
experiment to investigate how users’ perception about online banking (Internet Banking) is
affected by the perceived ease of use of website and the privacy policy provided by the online
banking website. The 110 undergraduate students in Chinese University are involved in the
investigation. The study finds that both perceived ease of use and privacy policy have a
significant impact on user’s adoption of online banking. The study also investigates relative
importance of perceived ease of use, privacy, and security. Perceived ease of use is of less
importance than privacy and security. Security is the most important factor influencing user’s
adoption. The study also discusses the implications of these results and limitations.
 Variable is: - Internet Banking
 Q 3) What is your opinion on the service charges on E-Transaction (Internet Banking)
2.4 (SIDDIK, 2007)
A survey of two towns and 10 villages in East Godavari and West Godavari
districts of Andhra Pradesh to find out the influence of different forms of advertisement
and personal selling on deposit mobilization of banks was conducted by Subha Rao (1982)".
It was observed that different media advertisements have limited influence on customers in
opening current account. Simil3rly personal selling was somewhat less powerful than
advertisement in motivating urban customers to open current accounts. But in rural areas
personal selling was more effective than advertisement Fixed depositors in urban and rural
areas are mostly motivated by personal selling and advertising was not effective in
mobilizing fixed deposits (FD) from urban and rural areas. It was also found that among
urban customers, their friends and relatives had more influence than bank staff whereas rural
customers were mostly induced by branch managers and other staff of the bank. Illiteracy,
ignorance and awareness about various deposits schemes on the part of small savers and their
psychological inertia are problems of deposit mobilization. Personal selling or contact is the
best way of educating the rural potential customers.
 Variable is: - FD

45
Q 4) If bank starts to provide Interest on FD at 1.25% per month, then would you like to
Purchase
2.5 Rao N. and Tiwari S. (2009) (http://shodhganga.inflibnet.ac.in)
Rao N. and Tiwari S. (2009) study the efficiency of 5 public sector banks selected on the
basis of interest rates in 2005. The study concludes that all employee efficiency factors have
insignificant influence on deposits, assets and advances, from branch efficiency, only
operating profits per branch and from operating efficiency, cost of deposits have significant
and positive impact. Liquidity influencing factors and ultimate profit factors do not influence
the study also suggests some measures to improve efficiency
 Variable is: - interest rates
Q 5) Are you satisfied with the interest rates offered and charged?
2.6 Udel (Udel, 1968)
Udel (1968) identified marketing promotions as the most important facet of marketing
strategy leading to effectiveness. Advertising, an aspect of promotional strategy, both an
informative and persuasive role, and in this respect, can alter customers’ perceptions of a
service.
 Variable is: - marketing
Q 6) Do you think bank should put more focus on marketing of their Financial products

46
2.7 Singh J D (1983) (NAIR)
Singh J D (1983) in his study examined the trends in bank advertising in the seventies in India. The
study revealed that the bank advertisements were created seemingly for the sake of advertising
rather than for creating the market or serving the customer satisfactorily. There is lack of
professionalism in bark advertising and marketing. Suggestions were made to give stress on
'positioning the bank' rather than on selling the products afire identification and prediction of
customer requirements.
 Variable is: - proper or require changes
Q 7) Do you think that marketing strategy of Financial Products of the bank is proper or
require changes
2.8 National Institute of Bank Management's study on deposit
mobilization (1969) (Bombay., (1969))
National Institute ofBank Management's study on deposit mobilization , (1969) concluded that
mobilization of resources is one important facet of the various services performed by banks. Banks
should classify depositors into segments and take intensive measures to market their services to them.
They should design suitable schemes to mobilize the savings and attract them through suitable media
of publicity. Review of Literature The various techniques of banks are essentially based on the
principles of mobility, flexibility, convenience, reduction of cash drain, automatic facilities and
special inducements. More personalized service to achieve deposit mobilization at branches.
 Variable is: - more Financial Products
Q 8) Do you think Bank should introduce more Financial Products

47
2.9 Hugar and Vaz (2008) (S.S. Hugar, 2008)
Hugar and Vaz (2008) evaluate the customer orientation in public sector banks for 5 public
sector, 3 new private sector and 3 foreign banks are selected. The study concludes that new
private sector banks have more ATMs at the end of March 2006 followed by SBI group
where 77.5 pc branches are fully computerized and 18.2 pc are partially computerized.
Business per employee and profits per employee are higher in foreign banks where SBI has
received more number of complaints followed by ICICI.
 Variable is: - ATM
Q 9) Do you think charges levied by bank for ATM Transaction beyond monthly transaction
limit, should be withdrawn
3 Chapter 3: Research methodology
This Chapter concentrates on the research methodology. The research design, sampling
design, data collection method, tools applied for the study geographical coverage and
Research Ethics are detailed.
3.1 Research design
The research design is defined by Fouche (2002) as “the plan or blue print of the study”. This
research is Qualitative research which allows the researcher to gather information and do an
in-depth exploration of issues, and therefore follows a less structured format with fewer
respondents than quantitative methods.
3.2 Sampling design
The study is an empirical one based on sample survey method. Sample was conducted among
two branches along Urban Mumbai of Kalyan - Badlapur Region. 4 Senior employees of ICICI
were selected as sample respondent for the study. The required Open-Ended data were collected
by means of an interview schedule.
3.2.1 Target population
The study is an empirical one based on sample survey method. The study has basically depended
on primary data. The required primary data were collected by means of an Questionnaire

48
administered to customers of Bank. Secondary data were collected from books, websites, journal
and Annual Reports of the ICICI bank
3.2.2 Sampling frame
Quota sampling was adopted by researcher. Quota sampling is where the researcher ensures
that certain groups of people, who are knowledgeable about the research problems, are
adequately represented in the research through the assignment of a fixed quota for each sub
group.
3.2.3 Period of study
The period of study was from JULY TO SEPTEMBER 2017. The study is mainly based on
primary data collected by Questionnaire made on the findings of various researches. The
secondary data were collected from various sources throughout the period of this study.
3.3 Sample size
9 Questions each from 30 respondents were collected from Customers totaling to 270
samples
3.4 Data collection
This section discusses the techniques of gathering primary data for the testing of the research
propositions that were crafted in Chapter I and II. The choice of the data instruments depends
on the availability of facilities, time, costs, the degree of accuracy required, the expertise of
the researcher, and other resources associated with the gathering of the data. The
questionnaire was given to the respondent directly by the students and was collected later as
per respondents preference as to giving filling the preprinted form.
3.5 Structure of questionnaire
The structured questionnaire was divided into different sections as felt suitable. The first
section covers personal variables, which are independent based on the assumption that there
were measurable differences amount the levels with regard to the perception of dependent
variables. The second to study factors section of questionnaire covers the factors of study
with dependent variables viz:

49
 V1: Services
 V2: Interest
 V3: Internet Banking
 V4: FD
 V5: Interest Rates
 V6: Marketing
 V7: Proper or require changes
 V8: more Financial Products
 V9: ATM
And
HA: Highly agree
A: Agree
N: Neutral
D: Disagree
HD: Highly Disagree

50
3.6 Format of questionnaire designed
 Title: STUDY ON ICICI’s MARKETING STRATEGIES OF FINANCIAL
PRODUCTS
 Researcher: AKSHAT MAHENDRA
Personal details
Respondents Name: _________________________________________
Gender:  Male  Female
Age: Below 20  20-30 30-40  40-50  Above 50
Education: Below Graduate  Graduate  Post Graduate  Professional  Others
Experience: Below 5 years  05-10 years 10-15 years  15-20 years  Above 20 years
Study factor:
1) The quality of services provided to you by bank in case of having any query are
 Very poor  Poor  Average  good  Very good
2) What you think the Interest charged on home loans is
 Very High  High  Normal  Low  Very Low
3) What is your opinion on the service charges on E-Transaction (Internet Banking):
Very High  High  Low  Very Low  Should be Abolished
4) If bank starts to provide Int. on FD at 1.25% per month, then would you like to Purchase
 Highly yes  Yes  Can’t say  No  Highly No
5) Are you satisfied with the interest rates offered and charged?
 Highly Satisfied Satisfied  Neutral Not Satisfied  Highly Not Satisfied
6) Do you think bank should put more focus on marketing of their Financial products
7) Do you think that marketing strategy of Financial Products of the bank is proper or require
changes
 Highly Proper Proper  Require Change  Improper  Can’t say
8) Do you think Bank should introduce more Financial Products
9) Do you think charges levied by bank for ATM Transaction beyond monthly transaction
limit, should be withdrawn
 Highly Agree  Agree  Neutral  Disagree  Highly disagree

51
3.7 Questionnaire for Expert Advice
Topic: STUDY ON ICICI’s MARKETING STRATEGIES OF FINANCIAL PRODUCTS
Name
Designation
Organisation
Q1) Infrastructure constraints is challenges for the marketing of financial products?
_____________________________________________________________________
_____________________________________________________________________
_____________________________________________________________________
_____________________________________________________________________
_____________________________________________________________________
_____________________________________________________________________
Q2) Do you think ICICI’s Financial Products can be purchased by general public?
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________

52
Q3) Could you briefly highlight on the future market strategies of financial products of
ICICI.
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
Q4) What do you think ICICI’s marketing strategies are efficient to attract public to
purchase your Financial Products?
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________

53
3.8 Analytical Tools applied for the study
Data analysis gives meaning to the data that has been collected. 30 respondents were given
questionnaire. After verification as to completeness of collected questionnaire, samples were
finalized. The data corresponding to the values in the Likert Scale were entered for each
statement in the questionnaire. It was then checked for accuracy, through three rounds of
visual and hardcopy inspections. The MS Excel data analysis tool was used for statistical data
analysis. The statistical analytical tools applied include:
 The Average score analysis is mainly used in any study is to assess the level of
opinion/awareness/satisfaction of the different category of respondents on the various
aspects relating to the study. First the opinion of the respondents are assessed through
a scaling technique and then based on the consolidated opinion of the respondents, the
average score is calculated.
 It is the simple and common method to represent raw streams of data as a percentage
for better understanding of collected data. Percentages are used in making comparison
between two or more variables to find the efficacy of each variable.
3.9 Research ethics
Research ethics refer to the "appropriate" behavior of the researcher in relation to the norms
of the society. It relates to the three parties involved in this research: the researcher, the
respondents and Research supervisor. Researcher assured Confidentiality to the respondents
and secrecy will be maintained. The researcher, on her/his part maintained objectivity,
presented the true research findings.

54
4 Chapter 4: Data analysis
Here,
 V1: Services
 V2: Interest
 V3: Internet Banking
 V4: FD
 V5: Interest Rates
 V6: Marketing
 V7: Proper or require changes
 V8: more Financial Products
 V9: ATM
And
HA: Highly agree
A: Agree
N: Neutral
D: Disagree
HD: Highly Disagree
4.1 Average score
The average score analysis is mainly used in any study is to assess the level of opinion/
awareness/satisfaction of the different category of respondents on the various aspects relating
to the study. First the opinions of the respondents are assessed through a scaling technique
and then based on the opinion of the respondents, the average score is calculated.
In this study, the opinion of the respondents is assessed through a five-point scaling technique
and then based on the opinion of respondents the average score is calculated and the result are
presented in different tables.

55
4.1.1 Testing of Hypothesis
Null Hypothesis (H0): Gender of the respondent does not influence their perception as to
STUDY ON ICICI’s MARKETING STRATEGIES OF FINANCIAL PRODUCTS
Alternative Hypothesis (H1): Gender of the respondent does influence their perception as to
STUDY ON ICICI’s MARKETING STRATEGIES OF FINANCIAL PRODUCTS.
The above testing of hypothesis can be done using the following table-
Table 1 Average score analysis
Variable Total response
HA=5 A=4 N=3 D=2 HD=1 Total
V1 0 0 7 22 1 30
V2 1 0 15 13 1 30
V3 5 0 7 15 3 30
V4 1 4 10 13 2 30
V5 1 6 11 12 0 30
V6 0 0 7 23 0 30
V7 3 3 12 12 0 30
V8 0 1 7 21 1 30
V9 1 4 5 13 7 30
Source: Primary data
Table 2Average score analysis
Variable Highly
Agree
score
Agree
score
Neutral
score
Disagree
score
Highly
disagree
score
total
score
Grant
Mac
score
Grant
Min
score
Avera
ge
Score
Low
score
Lower
HL
Middle
HL
High
score
QuotientScale remark
V01 0 0 21 44 1 66 150 30 1.32 1 2.5 3.75 5
V02 5 0 45 26 1 77 150 30 1.54 1 2.5 3.75 5
V03 25 0 21 30 3 79 150 30 1.58 1 2.5 3.75 5
V04 5 16 30 26 2 79 150 30 1.58 1 2.5 3.75 5
V05 5 24 33 24 0 86 150 30 1.72 1 2.5 3.75 5
V06 0 0 21 46 0 67 150 30 1.34 1 2.5 3.75 5
V07 15 12 36 24 0 87 150 30 1.74 1 2.5 3.75 5
V08 0 4 21 42 1 68 150 30 1.36 1 2.5 3.75 5
V09 5 16 15 26 7 69 150 30 1.38 1 2.5 3.75 5
Overall Average Score Analysis

56
4.2 Percentage analysis
The percentage analysis/ descriptive analysis describes the distribution of respondents in each
classification as it is expressed in percentage it facilitates comparison.
Table 3 Percentage analysis
Variable 5 4 3 2 1 total "5"% "4"% "3"% "2"% "1"% total%
V01 0 0 7 22 1 30 0% 0% 23% 73% 3% 100%
V02 1 0 15 13 1 30 3% 0% 50% 43% 3% 100%
V03 5 0 7 15 3 30 17% 0% 23% 50% 10% 100%
V04 1 4 10 13 2 30 3% 13% 33% 43% 7% 100%
V05 1 6 11 12 0 30 3% 20% 37% 40% 0% 100%
V06 0 0 7 23 0 30 0% 0% 23% 77% 0% 100%
V07 3 3 12 12 0 30 10% 10% 40% 40% 0% 100%
V08 0 1 7 21 1 30 0% 3% 23% 70% 3% 100%
V09 1 4 5 13 7 30 3% 13% 17% 43% 23% 100%
From the above table, it is found that: -
 With reference to variable V1, it is found that 23% respondent is neutral that the quality of
services provided by bank in case of having any query and 3% respondents are highly
disagree with it.
 With reference to variable V2, it is found that 50% respondent are neutral that the Interest
charged on home loans and 3% respondents are highly disagree with it.
 With reference to variable V3, it is found that 17% respondents highly agree on the service
charges on E-Transaction (Internet Banking) and 10% respondents are highly disagree with it.
 With reference to variable V4, it is found that 13% respondents agree that if bank starts to
provide Interest on FD at 1.25% per month and 7% respondents are highly disagree with it.
 With reference to variable V5, it is found that 3% respondents are highly agree with the
interest rates offered & charged and 40% respondents are disagreeing with it.
 With reference to variable V6, it is found that 23% respondents are neutral that bank should
put more focus on marketing of their financial products and 77 % respondents are disagreeing
 With reference to variable V7, it is found that 10 % respondents are highly agreeing about the
marketing strategy of Financial Products of the bank is proper and 40% thinks that bank
should change their strategy.
 With reference to variable V8, it is found that 23% respondents are neutral about the Bank
should introduce more Financial Products.

57
 With reference to variable V9, it is found that 43% respondents are highly disagreeing that the
charges levied by bank for ATM Transaction beyond monthly transaction limit, should be
withdrawn.
4.3 Gender vise percentage analysis
Gender vise percentage analysis, it is percentage analysis of total respondents but it is
segmented between males and females. We approach 30 respondents in which 24 responses
are taken from males and 6 responses from females.
Table 4 Gender vise percentage analysis
Table 5: - Gender vise percentage analysis
Varcode Total Total
PG1 54 3 2 1 5 4 3 2 1 5 4 3 2 1 5 4 3 2 1 5 4 3 2 1
V01 0 0 7 22 1 0 0 1 5 0 0 0 6 17 1 30 0.00% 0.00% 3.33% 16.67% 0.00% 0.00% 0.00% 20.00% 56.67% 3.33% 100.00%
V02 1 0 15 13 1 0 0 1 4 1 1 0 # 9 0 30 0.00% 0.00% 3.33% 13.33% 3.33% 3.33% 0.00% 46.67% 30.00% 0.00% 100.00%
V03 5 0 7 15 3 1 0 0 4 1 4 0 7 11 2 30 3.33% 0.00% 0.00% 13.33% 3.33% 13.33% 0.00% 23.33% 36.67% 6.67% 100.00%
V04 1 4 10 13 2 1 0 1 3 1 0 4 9 10 1 30 3.33% 0.00% 3.33% 10.00% 3.33% 0.00% 13.33% 30.00% 33.33% 3.33% 100.00%
V05 1 6 11 12 0 0 1 2 3 0 1 5 9 9 0 30 0.00% 3.33% 6.67% 10.00% 0.00% 3.33% 16.67% 30.00% 30.00% 0.00% 100.00%
V06 0 0 7 23 0 0 0 0 6 0 0 0 7 17 0 30 0.00% 0.00% 0.00% 20.00% 0.00% 0.00% 0.00% 23.33% 56.67% 0.00% 100.00%
V07 3 3 12 12 0 1 1 2 2 0 2 2 # 10 0 30 3.33% 3.33% 6.67% 6.67% 0.00% 6.67% 6.67% 33.33% 33.33% 0.00% 100.00%
V08 0 1 7 21 1 0 0 0 6 0 0 1 7 15 1 30 0.00% 0.00% 0.00% 20.00% 0.00% 0.00% 3.33% 23.33% 50.00% 3.33% 100.00%
V09 1 4 5 13 7 0 0 1 4 1 1 4 4 9 6 30 0.00% 0.00% 3.33% 13.33% 3.33% 3.33% 13.33% 13.33% 30.00% 20.00% 100.00%
Female Male
GenderwisePercentageAnalysis
MaleFemaleTotal
Var code 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
Average
score of
Female 1
Average
score of
male 2
Total
PG1 1 2 2 2 2 1 2 2 2 2 2 2 1 2 2 2 2 1 2 2 2 1 2 2 2 2 2 2 1 2 6 24 30
V01 2 3 2 2 2 2 2 3 2 2 2 3 2 2 2 2 2 2 2 3 2 3 2 2 1 3 2 2 2 3 2.17 2.21 2.20
V02 2 2 3 2 3 3 3 2 3 3 3 3 2 3 2 2 3 2 3 2 2 1 2 3 5 3 3 3 2 2 2.00 2.71 2.57
V03 2 3 3 2 2 5 5 2 2 1 2 2 2 5 5 2 2 2 2 3 1 1 2 2 3 3 3 5 2 3 2.33 2.71 2.63
V04 2 2 4 3 2 2 2 3 1 4 2 2 1 2 3 4 3 5 3 4 2 2 2 3 2 2 3 3 3 3 2.50 2.67 2.63
V05 2 3 2 3 3 3 2 4 2 2 3 3 2 3 4 3 4 3 2 5 4 4 2 2 2 2 3 4 2 3 2.67 2.92 2.87
V06 2 2 3 3 2 2 2 2 3 2 2 2 2 2 2 2 3 2 3 3 2 2 2 2 2 2 2 2 2 3 2.00 2.29 2.23
V07 5 3 2 3 2 2 5 2 5 3 2 3 3 2 2 3 3 3 3 4 4 4 2 3 2 3 3 2 2 2 3.17 2.83 2.90
V08 2 1 2 3 2 2 2 2 3 2 2 2 2 2 4 2 3 2 3 3 2 2 2 3 2 2 2 3 2 2 2.00 2.33 2.27
V09 2 1 3 4 1 2 3 2 4 1 2 2 1 2 1 4 3 3 3 5 2 2 2 2 4 2 1 2 2 1 2.00 2.38 2.30
Genderwise Average score analysis

58
From above tables, we can conclude that: -
 From variable V1, we can find that males feel that the quality of services provided by
the bank in case of having any query, more than female.
 From variable V2, we can find that males feel that the Interest charged on home loans
is more, than female.
 From variable V3, we can find that males feel that opinion on the service charges on E-
Transaction (Internet Banking) is more, than female.
 From variable V4, we can find that males feel that bank starts to provide Interest on FD at
1.25% per month, then would like to Purchase, more than female.
 From variable V5, we can find that males feel that they are satisfied with the interest rates
offered and charged, more than female.
 From variable V6, we can find that males feel that bank should put more focus on marketing
of their Financial products, more than female.
 From the variable V7, we can found that females feel that marketing strategy of Financial
Products of the bank is proper, more than male.
 From the variable V8, we can found that males feel that Bank should introduce more
Financial Products, more than female.
 From the variable V9, we can found that male feel that charges levied by bank for
ATM Transaction beyond monthly transaction limit, should be withdrawn, more than
female.
4.4 Descriptive statistics
Descriptive statistics are statistics that quantitatively describe or summarize features of a
collection of information. Descriptive statistics is the term given to the analysis of data that
helps describe, show or summarize data in a meaning full way such that, for example,
patterns might emerge from the data.

59
Table 6 Descriptive statistics
 Variable V7 has highest mean that is 2.90
 Variable V1 has lowest mean that is 2.20
 All the variables have same average they all are in between 2.20 to 2.90
4.5 AGEWISE AVERAGE SCORE ANALYSIS
TABLE 7 AGEWISE AVERAGE SCORE ANALYSIS
 Variable V7 has highest age wise score that is 2.90
 Variable V1 has lowest age wise score that is 2.20
 All the variables have same average they all are in between 2.20 to 2.90 that means
they all are nearby each other.
Variable Mean Median Mode Standard
Deviation
Sample
Variance
Kurtosis Skewness Range Minimu
m
Maximu
m
Sum Count Confidence
Level(95.0%)
V01 2.20 2.00 2.00 0.48 0.23 0.50 0.55 4.00 1.00 5.00 66.00 30.00 0.17
V02 2.57 3.00 3.00 0.73 0.53 3.15 0.90 4.00 1.00 5.00 77.00 30.00 0.26
V03 2.63 2.00 2.00 1.22 1.48 0.16 1.02 4.00 1.00 5.00 79.00 30.00 0.44
V04 2.63 2.50 2.00 0.93 0.86 0.20 0.55 4.00 1.00 5.00 79.00 30.00 0.33
V05 2.87 3.00 2.00 0.86 0.74 -0.44 0.62 4.00 1.00 5.00 86.00 30.00 0.31
V06 2.23 2.00 2.00 0.43 0.19 -0.26 1.33 4.00 1.00 5.00 67.00 30.00 0.15
V07 2.90 3.00 3.00 0.96 0.92 0.20 0.96 4.00 1.00 5.00 87.00 30.00 0.34
V08 2.27 2.00 2.00 0.58 0.34 1.69 1.03 4.00 1.00 5.00 68.00 30.00 0.21
V09 2.30 2.00 2.00 1.09 1.18 -0.07 0.73 4.00 1.00 5.00 69.00 30.00 0.39
DescriptiveStatistics
Varcode 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
Age class
1
Age class
2
Age class
3
Age class
4
Age class
5
Total
PA2 4 4 3 5 3 3 3 3 2 3 3 3 3 3 3 2 4 2 3 2 2 3 3 3 3 3 2 3 1 3 1 6 19 3 1 30
V01 2 3 2 2 2 2 2 3 2 2 2 3 2 2 2 2 2 2 2 3 2 3 2 2 1 3 2 2 2 3 2.00 2.17 2.21 2.33 2.00 2.20
V02 2 2 3 2 3 3 3 2 3 3 3 3 2 3 2 2 3 2 3 2 2 1 2 3 5 3 3 3 2 2 2.00 2.33 2.74 2.33 2.00 2.57
V03 2 3 3 2 2 5 5 2 2 1 2 2 2 5 5 2 2 2 2 3 1 1 2 2 3 3 3 5 2 3 2.00 2.17 2.89 2.33 2.00 2.63
V04 2 2 4 3 2 2 2 3 1 4 2 2 1 2 3 4 3 5 3 4 2 2 2 3 2 2 3 3 3 3 3.00 3.17 2.47 2.33 3.00 2.63
V05 2 3 2 3 3 3 2 4 2 2 3 3 2 3 4 3 4 3 2 5 4 4 2 2 2 2 3 4 2 3 2.00 3.33 2.74 3.00 3.00 2.87
V06 2 2 3 3 2 2 2 2 3 2 2 2 2 2 2 2 3 2 3 3 2 2 2 2 2 2 2 2 2 3 2.00 2.33 2.16 2.33 3.00 2.23
V07 5 3 2 3 2 2 5 2 5 3 2 3 3 2 2 3 3 3 3 4 4 4 2 3 2 3 3 2 2 2 2.00 3.67 2.58 3.67 3.00 2.90
V08 2 1 2 3 2 2 2 2 3 2 2 2 2 2 4 2 3 2 3 3 2 2 2 3 2 2 2 3 2 2 2.00 2.33 2.26 2.00 3.00 2.27
V09 2 1 3 4 1 2 3 2 4 1 2 2 1 2 1 4 3 3 3 5 2 2 2 2 4 2 1 2 2 1 2.00 3.17 2.00 2.00 4.00 2.30
Agewise Average score analysis

60
4.6 EDUCATION QUALIFICATIONWISE AVERAGE SCORE ANALYSIS
TABLE 8: - EDUCATIONQUALIFICATIONWISE AVERAGE SCORE ANALYSIS
 Variable V7 has Highest Qualification Wise Score that is 2.90
 Variable V1 has Lowest Qualification Wise Score that is 2.20
4.7 EXPERIENCE-WISE AVERAGE SCORE ANALYSIS
TABLE 9: - EXPERIENCE-WISE AVERAGE SCORE ANALYSIS
 Variable V7 has Highest Experience Wise Score that is 2.90
 Variable V1 has Lowest Experience Wise Score that is 2.20
Varcode 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
Age class
1
Age class
2
Age class
3
Age class
4
Age class
5
Total
PQ3 2 2 3 2 2 2 3 2 2 2 3 3 3 2 2 1 4 4 2 4 1 2 2 2 2 1 1 2 1 5 5 16 5 3 1 30
V01 2 3 2 2 2 2 2 3 2 2 2 3 2 2 2 2 2 2 2 3 2 3 2 2 1 3 2 2 2 3 2.20 2.13 2.20 2.33 3.00 2.20
V02 2 2 3 2 3 3 3 2 3 3 3 3 2 3 2 2 3 2 3 2 2 1 2 3 5 3 3 3 2 2 2.40 2.63 2.80 2.33 2.00 2.57
V03 2 3 3 2 2 5 5 2 2 1 2 2 2 5 5 2 2 2 2 3 1 1 2 2 3 3 3 5 2 3 2.20 2.75 2.80 2.33 3.00 2.63
V04 2 2 4 3 2 2 2 3 1 4 2 2 1 2 3 4 3 5 3 4 2 2 2 3 2 2 3 3 3 3 2.80 2.44 2.20 4.00 3.00 2.63
V05 2 3 2 3 3 3 2 4 2 2 3 3 2 3 4 3 4 3 2 5 4 4 2 2 2 2 3 4 2 3 2.80 2.81 2.40 4.00 3.00 2.87
V06 2 2 3 3 2 2 2 2 3 2 2 2 2 2 2 2 3 2 3 3 2 2 2 2 2 2 2 2 2 3 2.00 2.19 2.20 2.67 3.00 2.23
V07 5 3 2 3 2 2 5 2 5 3 2 3 3 2 2 3 3 3 3 4 4 4 2 3 2 3 3 2 2 2 3.00 2.81 3.00 3.33 2.00 2.90
V08 2 1 2 3 2 2 2 2 3 2 2 2 2 2 4 2 3 2 3 3 2 2 2 3 2 2 2 3 2 2 2.00 2.38 2.00 2.67 2.00 2.27
V09 2 1 3 4 1 2 3 2 4 1 2 2 1 2 1 4 3 3 3 5 2 2 2 2 4 2 1 2 2 1 2.20 2.19 2.20 3.67 1.00 2.30
Educational Qualificationwise Average score analysis
Varcode 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
Age class
1
Age class
2
Age class
3
Age class
4
Age class
5
Total
PE4 5 5 3 1 3 3 2 3 2 4 3 3 4 2 2 2 2 1 3 2 2 3 2 3 4 3 1 2 1 3 4 10 11 3 2 30
V01 2 3 2 2 2 2 2 3 2 2 2 3 2 2 2 2 2 2 2 3 2 3 2 2 1 3 2 2 2 3 2.00 2.10 2.45 1.67 2.50 2.20
V02 2 2 3 2 3 3 3 2 3 3 3 3 2 3 2 2 3 2 3 2 2 1 2 3 5 3 3 3 2 2 2.25 2.50 2.64 3.33 2.00 2.57
V03 2 3 3 2 2 5 5 2 2 1 2 2 2 5 5 2 2 2 2 3 1 1 2 2 3 3 3 5 2 3 2.25 3.20 2.45 2.00 2.50 2.63
V04 2 2 4 3 2 2 2 3 1 4 2 2 1 2 3 4 3 5 3 4 2 2 2 3 2 2 3 3 3 3 3.50 2.60 2.55 2.33 2.00 2.63
V05 2 3 2 3 3 3 2 4 2 2 3 3 2 3 4 3 4 3 2 5 4 4 2 2 2 2 3 4 2 3 2.75 3.30 2.82 2.00 2.50 2.87
V06 2 2 3 3 2 2 2 2 3 2 2 2 2 2 2 2 3 2 3 3 2 2 2 2 2 2 2 2 2 3 2.25 2.30 2.27 2.00 2.00 2.23
V07 5 3 2 3 2 2 5 2 5 3 2 3 3 2 2 3 3 3 3 4 4 4 2 3 2 3 3 2 2 2 2.75 3.20 2.55 2.67 4.00 2.90
V08 2 1 2 3 2 2 2 2 3 2 2 2 2 2 4 2 3 2 3 3 2 2 2 3 2 2 2 3 2 2 2.25 2.60 2.18 2.00 1.50 2.27
V09 2 1 3 4 1 2 3 2 4 1 2 2 1 2 1 4 3 3 3 5 2 2 2 2 4 2 1 2 2 1 2.50 2.80 2.00 2.00 1.50 2.30
Experiecwise Qualificationwise Average score analysis

61
4.8 CORELATION ANALYSIS ON GENDER
TABLE 10: - CORELATION ANALYSIS ON GENDER
 Variable V8 has Highest Corelation Coefficient that is 0.23
 Variable V7 has Lowest Corelation Coefficient that is -0.14
 All the variables have same average they all are in between -0.14 to 0.23 that means
Var code 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
PG1 1 2 2 2 2 1 2 2 2 2 2 2 1 2 2 2 2 1 2 2 2 1 2 2 2 2 2 2 1 2
V01 2 3 2 2 2 2 2 3 2 2 2 3 2 2 2 2 2 2 2 3 2 3 2 2 1 3 2 2 2 3 0.04
V02 2 2 3 2 3 3 3 2 3 3 3 3 2 3 2 2 3 2 3 2 2 1 2 3 5 3 3 3 2 2 0.40
V03 2 3 3 2 2 5 5 2 2 1 2 2 2 5 5 2 2 2 2 3 1 1 2 2 3 3 3 5 2 3 0.13
V04 2 2 4 3 2 2 2 3 1 4 2 2 1 2 3 4 3 5 3 4 2 2 2 3 2 2 3 3 3 3 0.07
V05 2 3 2 3 3 3 2 4 2 2 3 3 2 3 4 3 4 3 2 5 4 4 2 2 2 2 3 4 2 3 0.12
V06 2 2 3 3 2 2 2 2 3 2 2 2 2 2 2 2 3 2 3 3 2 2 2 2 2 2 2 2 2 3 0.28
V07 5 3 2 3 2 2 5 2 5 3 2 3 3 2 2 3 3 3 3 4 4 4 2 3 2 3 3 2 2 2 -0.14
V08 2 1 2 3 2 2 2 2 3 2 2 2 2 2 4 2 3 2 3 3 2 2 2 3 2 2 2 3 2 2 0.23
V09 2 1 3 4 1 2 3 2 4 1 2 2 1 2 1 4 3 3 3 5 2 2 2 2 4 2 1 2 2 1 0.14
Correlation Analysis based on Gender
Correlation
coefficient

62
4.9 Analysis of study variables
 V1: The quality of services provided to you by bank in case of having any query are
Figure 1 SERVICES
From the findings we can summarize that 73% responses are Poor Bank Service and 23%
responses are Average with regard to this question.
 V2: What you think the Interest charged on home loans is
Figure 2: - INTEREST
From the findings, we can summarize that 50% respondents are normal with regard to the
Interest Rate of the Bank.
0%0%
23%
73%
3%
SERVICES
Very Good
Good
Average
Poor
Very Poor
3% 0%
50%
43%
3%
INTEREST
Very High
High
Normal
Low
Very Low

63
 V3: What is your opinion on the service charges on E-Transaction (Internet Banking):
Figure 3 INTERNET BANKING
From the findings we can summarize that 50% feels Net Banking charges should be very low.
 V4: If bank starts to provide Interest on FD at 1.25% per month, then would you like
to Purchase
Figure 4 FD
From the findings we can summarize that 44 % respondents will purchase product i.e., Fixed
Deposits.
VeryHigh
17%
High
0%
Low
23%
VeryLow
50%
Should be Abolished
10%
INTERNET BANKING
Very High High Low Very Low Should be Abolished
3%
13%
33%
44%
7%
FD
Highly Yes Yes Can't Say No Highly No

64
 V5: Are you satisfied with the interest rates offered and charged?
Figure 5: - INTEREST RATES
From the findings we can summarize that 40% are not satisfied with present rate of Interest.
 V6: Do you think bank should put more focus on marketing of their Financial products
Figure 6 :- Marketing
From the findings we can summarize that 77% responses should put focus on marketing of
their Financial Products.
HighlySatisfied
3%
Satisfied
20%
Neutral
37%
Not Satisfied
40%
HighlyNot Satisfied
0%
INTEREST RATES
Highly Satisfied Satisfied Neutral Not Satisfied Highly Not Satisfied
00
23
77
0
Marketing
Highly Yes Yes Can't Say No Highly No

65
 V7: Do you think that marketing strategy of Financial Products of the bank is proper or
require changes
Figure 7 :- Proper or require changes
From the findings we can summarize that 40% feels that changes required.
 V8: Do you think Bank should introduce more Financial Products
Figure 2 :- more Financial Products
From the findings we can summarize that 70% respondents are disagree with new Financial
Products of Bank.
HighlyProper
10%
Proper
10%
Require Change
40%
Improper
40%
Can’t say
0%
Proper or require changes
Highly Proper Proper Require Change Improper Can’t say
0
3
23
70
3
more Financial Products
Highly Yes
Yes
Can't Say
No
Highly No

66
 V9: Do you think charges levied by bank for ATM Transaction beyond monthly
transaction limit, should be withdrawn
Figure 9: ATM
From the findings we can summarize that 44% responses are Disagree with leving charges
for ATM Transactions.
HighlyAgree
3% Agree
13%
Neutral
17%
Disagree
44%
Highlydisagree
23%
ATM
Highly Agree Agree Neutral Disagree Highly disagree

67
5 Chapter 5: Summary of findings
The marketing is regarded as the pivotal force behind strategic planning and business
operations. The effective marketing calls for managers to have adequate information for
planning and allocating resources to different market products, territories and marketing
tools. The firm must be suitably staffed to enable it to perform marketing analysis, planning
and implementation. The marketing effectiveness is contingent upon the adeptness of
managers to deliver profitable strategies from its philosophy, organization and information
resources. The issue of marketing effectiveness is particularly significant to those associated
with the management of financial services. The financial service organization, should study
the market, recognize the numerous opportunities, select the most appropriate market
segments, and offer superior value to meet the selected customers ‘needs and wants. In
financial services, good customer relations and their satisfaction is the single major factor
contributing to the success of an organization.
The successful financial services companies share a strong focus and a heavy commitment
towards marketing. The modern marketing seeks to attract new customers by promising
superior value and to keep current customers by delivering satisfaction. The sound marketing
is critical to the success of all organization, whether large or small, profit or non-profit, and
domestic or global. The people mostly think of marketing as only selling or advertising. But
marketing companies do many activities like market research, product development,
distribution, pricing, advertising, personal selling.
The consumers ‘focus and satisfaction are driving forces for surviving or thriving in the
twenty first century. A consumer is anyone who typically engages in one or all the decision
processes and physical activities when evaluating, acquiring, using, or disposing of economic

68
goods and services. A customer is always defined in terms of a specific product company.
However, the t e n consumer is a far wider term encompassing not only the actual buyer or
customer but also all its users that is customers. The customer satisfaction has been
conceptualized in several ways. It consists of customers' expectations, performance
interactions, pleasure or displeasure, and the evaluation of the benefits of consumption. The
financial services companies therefore need to consider market characteristics, which consist
of consumer contact.
There are many problems posed to financial services sector. The increased customer
demands, and sophistication of market puts the financial sector in a competitive environment.
The financial services market requires new strategies to survive in the competitive market.
The marketing and finance is a special category of financial services industry. In India, there
is an ever-widening gap between the demand and supply of marketing and. The government
of India has been supporting the marketing and sector through a series of fiscal incentives in
the budgets. The Five-year plans have emphasized the need for promoting marketing and
finance schemes to the society. The major factor
responsible for growth of marketing and finance in India is a massive shortage of marketing
and in the country.
The demand for houses has gone up due to population growth, a shift towards urbanization,
rising income of the families, and the distinct trends towards nuclear families. The other
factors that continued to the demand for marketing and are scarcity of developed land, hike in
the construction cost, and non-availability of building materials, and skilled manpower, and
the highly speculative trend in the cost of land. The increasing demand for marketing and

STUDY OF ICICI MARKETING STRATEGIES OF FINANCIAL PRODUCTS by AKSHAT MAHENDRA

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STUDY OF ICICI MARKETING STRATEGIES OF FINANCIAL PRODUCTS by AKSHAT MAHENDRA