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Marketing in Banking Sector


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Marketing in Banking Sector

  1. 1. Marketing inBanking Sector
  2. 2. BARTER SYSTEM Barter is direct exchange of commodity for commodity. Disadvantages: Lack of Double Coincidence of Wants. Lack of Divisibility
  3. 3.  Money is anything that can serve as a medium of exchange and has general acceptability, measure of value and store of value. Commodity Money Metallic Money Paper Money Bank or Credit Money
  4. 4. An institutionwhich receivesfunds from the Control the public and supply ofgives loans and Money and advances to Credit. those who needs it.The Banks can With the Aim of create Credit making Profit,i.e., Creation of it is regarded as Additional a commercial Money for institution. Lending.
  5. 5.  The First Bank in India, called „The General Bank of India (1786)‟. The East India Company established „The Bank of Bengal (1809)‟. The next bank was „Bank of Hindustan (1870)‟. Allahabad Bank (1865), was the first Bank, completely run by Indians. Punjab National Bank Ltd. set up in 1894. „Reserve Bank of India‟ in April 1, 1935.
  6. 6. Capital InnovationsFormation Finance for Priority Sectors. Provision for Medium and Long term Monetization Finance
  7. 7. Private Sector Regional Rural State/Central Banks Commercial Co-operative Private bank Banks Non Banking Finance Primary Credit Public Sector Companies Societies (NBFCs)Central Bank (RBI) Foreign Indian Financial Institutions Term Financial Institutions State Finance Corporations (SFCs)
  9. 9. Headquarters Mumbai, Maharashtra Established 1 April 1935 Governor Dr Duwuri Subbarao Currency Indian rupee Code INR Reserves US$30,210 crore (US$302.1 billion) Website borrowing rate 8.00%
  10. 10. It is Indias central banking institutionControls the monetary policy of IndiaBank of issueRegulator and supervisor of the financial systemIssuer of currencyBanker of BanksDetection Of Fake currency
  11. 11. “ Bank marketing is the aggregate offunctions, directed at providingservices to satisfy customers financial(and other related) needs and wants,more effectively and efficiently thanthe competitors keeping in view theorganizational objectives of the bank.”
  12. 12. AIM- To create and win more and more customersand to retain them through effective customerservice.The existence of the bank has no value without theexistence of the customer.Appropriate promise to a customer through a rangeof services (products) and also to ensure effectivedelivery through satisfaction is important.
  13. 13. Identifying the most profitable markets now and in future.Assessing the present and future needs of customers.Setting business development goals and making plans to meetthem.Managing the various services and promoting them.Adapting to a changing environment in Market.
  14. 14. Bank which are not Designed after facing acutetaking into account competition could Design new product the STRENGTHS think of “Market range for their and Development” by customers of variousWEAKNESSES of offering the existing segments. the organization. services to new customers.
  15. 15. Traditional Internal Interactive external marketing marketingmarketing
  16. 16.  Consists of 4 P’s marketing mix Promotion Product 4 Price P’s Place
  17. 17. Includes interest , fees or commission charged by the bank. Also the interestpaid by the bank.Typical for banking sector since RBI regulates rates ofinterest, Organizations are supposed to sub-serve weaker sections and therural regions of the country.Buyers look for satisfaction which differs from person to person.Keeping in view the level of satisfaction of a particular segment, the bankshave to frame the pricing strategies.The interest charged and the interest paid should have a co-relation betweenthem.
  18. 18. MakeDevelop Estimate marketing Calculatemarketing the demand mix cost strategy curve. decisions
  19. 19. It refers to the establishment and functioning of anetwork of branches and other offices throughwhich banking services are delivered.Objective is to get the right product ,at right placesat right time at the least cost.Extensive branch network- access to large section ofpeopleProximity may play a determinant role in selectingthe bank.
  20. 20.  Advertising Publicity Sales Promotion Personal Selling Push and Pull Strategies
  21. 21. Quality Human resource can be a point of differentiation Employees should also be treated as internalcustomers, and sort ofmarketing mix should be followed. It involves the people(5th P) of the bank i.e. the employees.
  22. 22.  The quality of service provided during the buyer- employee interaction. Efforts for previous strategies will turn futile if the interaction does not takes place satisfactorily. It involves :*Process P) (6 th*Physical evidence (7 th P)
  23. 23. Refers to the systems used to assist the organization in delivering the service.Aids to the promotion of customer satisfactionIt involves:1. Speeding delivery of services2. Reducing the paper work3. Standardization of procedures4. Customization as per individual demand simplicity etc
  24. 24. Referral services Direct mailingOffering items having your brand identity Using the media Getting celebrities toendorse the product or service. Sponsoring eventsUsing permission-based Marketing
  25. 25. Full Form :-Industrial Credit Largest private Second largest Largest issuer of and Investment sector bank in overall in terms credit cards in Corporation of market of assets. India. India Bank capitalization . (ICICI)
  26. 26. Product Pricing Place Promotion ProcessPhysical Evidence People
  27. 27. Senior citizen services: Demand Fixed services Deposits :Mobile Loanbanking Produ ct Roaming Card current Investme Recurrin nt g deposit Saving account:.
  28. 28. 1. Pricing Decisions related to interest, fee or commission.2. RBI and IBA3. Raising Number of Customers
  29. 29. Services are sold through branchesMaking Promised Services available to the ultimateusers.Branches OF ICICI:1900 in India and 33 in Mumbai.
  30. 30. Advertising - Television, radio, movies, theatresPrint Media- Hoardings, newspaper, magazinesPublicity- Road shows, campus visits, SponsorshipSales Promotion- Gifts, discount and commission, incentives, etc.Telemarketing- ICICI one source Call center (Mind Space)
  31. 31. Standardization- ICICI bank has got standardizedprocedures to get typical transactions.Customization- Specialty counters at each branch todeal with customers of a particular scheme.Simplicity- Separate counters exist with clearindication.Customer Involvement- Money matters andsignature.
  32. 32. All people directly or indirectly involved in theconsumption of banking services.Workers, Employees, Management and otherConsumersEmployees of a Bank represents the organization toits customers.Internal Marketing
  33. 33. Financial Reports- The Company’s financial reports areissued to the customers to emphasis or credibilityTangibles- Pens, Writing Pads to the internal customers.Passbook and Cheque books to the customers.Punch lines- “Hum Hai Naa”Employee‟s Dress Code- ICICI bank follows a dresscode for their internal customers
  34. 34.  Various Banks and Financial Institutions are present today in the market squeezing the Market competition in Banking Sector. This is the biggest threat for Banks. Hence to survive in the market, Banks must have:- 1. Strong Marketing Team Support 2. Innovative Marketing Practices Hence, Bank Marketing has become the necessity in today‟s World.
  35. 35. Bhoomika Sahu Aditya Patel Shreya Shah Anurag SinhaSurabhi Dashasahastra Robin Agrawal Prateek Aloni