This document provides an overview of service marketing in the banking sector in India. It discusses the 7 Ps of marketing as they apply to banks - product mix, promotional mix, price mix, place, people, process, and physical evidence. It notes that while the 4 traditional Ps apply, an additional 3 Ps are important for services - people, process, and physical evidence. The document then analyzes various aspects of each P, such as types of products and services banks offer, elements of promotion, approaches to pricing, and the role of employees and processes in service delivery.
The document provides information about banking services submitted by a group of students. It begins with introducing the origins of the term "bank" and provides a definition of banking. It then discusses the history of banking in India in three phases from 1786 to the present. It notes that India's banking sector is expanding rapidly and discusses the major players in the sector including public sector banks, private sector banks, and foreign banks. The rest of the document discusses key aspects of marketing mix for banking services including product, price, place, promotion, people, process, and physical evidence. It also provides State Bank of India as a case study, outlining its history and products, prices, places, promotions, people, processes, and physical evidence
The document discusses marketing in the banking sector. It defines banks and their key roles in the economy. It outlines the types of banks in India including central banks, public sector banks, private sector banks, and cooperative banks. It then defines bank marketing as directing functions to satisfy customer financial needs more effectively than competitors while achieving bank objectives. The importance of marketing for banks to create, win, and retain customers through effective service is highlighted.
This document provides an introduction to various banking products and services. It begins with definitions of banking and the key roles banks play in providing savings opportunities and supplying liquidity through lending. It then describes the different types of banks in India including central banks, public sector banks, private sector banks, and cooperative banks. The document outlines common banking products such as deposits, loans, letters of credit, and safe deposit boxes. It also discusses important banking functions including issuing banknotes, processing payments, and intermediating credit. Finally, it briefly touches on key aspects of bank marketing like market segmentation, pricing strategies, distribution channels, and the marketing mix.
SBI is the largest bank in India in terms of assets, branches, deposits, profits and employees. It offers a wide range of banking and financial services including retail banking, corporate banking, investment banking, private banking, asset management and credit cards. As the market leader, SBI has a strong brand name but also faces threats from increasing competition and non-performing assets that could impact its profitability.
The document discusses marketing strategies for banks. It defines bank marketing as providing services to satisfy customers' financial needs more effectively than competitors, while achieving organizational objectives. Effective bank marketing is necessary to win and retain customers through appropriate promises and identifying profitable current and future customer segments and their needs. The marketing mix of product, price, place, promotion, physical evidence and processes are described for banks to strategically segment, target and position themselves relative to competitors in the changing banking environment.
In this presentation we will talk about the process of “Marketing in Banking Sector” and its effect on the sector as a whole and services of individual Organization.
To know more about Welingkar School’s Distance Learning Program and courses offered, visit:
http://www.welingkaronline.org/distance-learning/online-mba.html
This document provides an overview of the banking sector in India. It discusses the history and growth of the sector. As of 2010, total assets of scheduled commercial banks reached Rs. 40.9 trillion. Credit growth was 1.2% in 2012 while deposits grew 3.7%. The document also outlines opportunities in areas like mortgages, wealth management, and infrastructure financing. It notes key challenges such as Basel 3 norms, competition, and non-performing assets. Major players in the sector are listed and trends discussed, including a focus on secured retail lending.
This document discusses the marketing mix challenges faced by the Indian banking sector. It notes that the Indian banking sector will be the third largest in the world by 2025. However, it faces challenges such as new regulations, efficiency, and diffused customer loyalty. The marketing mix - product, price, place, promotion, physical evidence, process, and people - is an important consideration for banks. Banks must focus on reliable service delivery through technology investments and leverage their branch networks. Marketing research and feedback from customers are also crucial to formulating an effective marketing strategy. Banks need to enhance financial literacy and offer diverse products tailored to different customer groups.
The document provides information about banking services submitted by a group of students. It begins with introducing the origins of the term "bank" and provides a definition of banking. It then discusses the history of banking in India in three phases from 1786 to the present. It notes that India's banking sector is expanding rapidly and discusses the major players in the sector including public sector banks, private sector banks, and foreign banks. The rest of the document discusses key aspects of marketing mix for banking services including product, price, place, promotion, people, process, and physical evidence. It also provides State Bank of India as a case study, outlining its history and products, prices, places, promotions, people, processes, and physical evidence
The document discusses marketing in the banking sector. It defines banks and their key roles in the economy. It outlines the types of banks in India including central banks, public sector banks, private sector banks, and cooperative banks. It then defines bank marketing as directing functions to satisfy customer financial needs more effectively than competitors while achieving bank objectives. The importance of marketing for banks to create, win, and retain customers through effective service is highlighted.
This document provides an introduction to various banking products and services. It begins with definitions of banking and the key roles banks play in providing savings opportunities and supplying liquidity through lending. It then describes the different types of banks in India including central banks, public sector banks, private sector banks, and cooperative banks. The document outlines common banking products such as deposits, loans, letters of credit, and safe deposit boxes. It also discusses important banking functions including issuing banknotes, processing payments, and intermediating credit. Finally, it briefly touches on key aspects of bank marketing like market segmentation, pricing strategies, distribution channels, and the marketing mix.
SBI is the largest bank in India in terms of assets, branches, deposits, profits and employees. It offers a wide range of banking and financial services including retail banking, corporate banking, investment banking, private banking, asset management and credit cards. As the market leader, SBI has a strong brand name but also faces threats from increasing competition and non-performing assets that could impact its profitability.
The document discusses marketing strategies for banks. It defines bank marketing as providing services to satisfy customers' financial needs more effectively than competitors, while achieving organizational objectives. Effective bank marketing is necessary to win and retain customers through appropriate promises and identifying profitable current and future customer segments and their needs. The marketing mix of product, price, place, promotion, physical evidence and processes are described for banks to strategically segment, target and position themselves relative to competitors in the changing banking environment.
In this presentation we will talk about the process of “Marketing in Banking Sector” and its effect on the sector as a whole and services of individual Organization.
To know more about Welingkar School’s Distance Learning Program and courses offered, visit:
http://www.welingkaronline.org/distance-learning/online-mba.html
This document provides an overview of the banking sector in India. It discusses the history and growth of the sector. As of 2010, total assets of scheduled commercial banks reached Rs. 40.9 trillion. Credit growth was 1.2% in 2012 while deposits grew 3.7%. The document also outlines opportunities in areas like mortgages, wealth management, and infrastructure financing. It notes key challenges such as Basel 3 norms, competition, and non-performing assets. Major players in the sector are listed and trends discussed, including a focus on secured retail lending.
This document discusses the marketing mix challenges faced by the Indian banking sector. It notes that the Indian banking sector will be the third largest in the world by 2025. However, it faces challenges such as new regulations, efficiency, and diffused customer loyalty. The marketing mix - product, price, place, promotion, physical evidence, process, and people - is an important consideration for banks. Banks must focus on reliable service delivery through technology investments and leverage their branch networks. Marketing research and feedback from customers are also crucial to formulating an effective marketing strategy. Banks need to enhance financial literacy and offer diverse products tailored to different customer groups.
The document discusses bank marketing in India. It begins with defining key terms like banks, the financial system, and the origins of the word "bank." It then discusses the evolution of marketing concepts in banking and how marketing helps banks achieve objectives. It also covers topics like market research, competition in banking, applying marketing concepts to banks, and the meaning of bank marketing. Finally, it provides examples of market research studies conducted by various Indian banks.
Comparative study of promotional strategies adopted by public and private sec...prakash200
The document discusses and compares the promotional strategies used by public and private sector banks in India. It finds that private banks utilize more personalized promotional approaches like personal selling and direct marketing, while public banks rely more on mass media advertising. A survey of 300 bank customers found that most use savings accounts and were influenced by friends/family in their bank choice. Respondents perceived private bank promotions as more effective but found public bank information more reliable. Television advertising was viewed as the most impactful promotional tool for banks. Overall, private banks advertise more aggressively but public banks are seen as more trustworthy.
The document discusses marketing of banking products and services. It provides an overview of key banking concepts like types of banks in India, commercial and economic roles of banks, and what is bank marketing. It explains various marketing strategies banks use like segmentation, targeting, positioning, and the 4Ps of marketing - product, price, place, promotion. It also discusses internal marketing and interactive marketing. The document concludes with a case study on marketing of services by ICICI Bank using the 7Ps framework.
This document provides an overview of bank marketing in India. It discusses the origin and definition of banks, the financial system in India, the evolution of marketing concepts, and how marketing applies specifically to banking. It defines bank marketing as satisfying customers' financial needs more effectively than competitors while achieving organizational objectives. The document also discusses the importance of market research, segmentation, and developing a marketing mix for banking services. It provides examples of market research studies conducted by various Indian banks.
The document discusses marketing strategies for banks in India. It begins by defining bank marketing and noting that private sector and foreign banks have grown faster than public sector banks on key performance metrics like deposits, advances, interest income, and profits. It then discusses the various products and services offered by banks, the marketing approaches used, and challenges faced in bank marketing. Finally, it suggests strategies for public sector banks to enhance their marketing, such as emphasizing term deposits, developing attractive products, effective branding, increasing awareness among customers like women, and educating customers.
Goal diggers Marketing managment Marketing Mix 7p's of Amana BankNimeshAnuradha1
This document provides information about Amana Bank in Sri Lanka including:
- An overview of Amana Bank's financial performance, branches, employees, and customers.
- Details on Amana Bank's vision to be a leader in providing equitable financial solutions and earning customer trust.
- An explanation of how the 7Ps of marketing (Product, Place, Price, Promotion, Physical Evidence, People, Processes) are applied at Amana Bank, describing their products, branches, pricing, promotions, physical environment, employees, and processes.
- Specific examples of Amana Bank's products like doorstep banking and debit cards, their pricing strategies, and promotional activities like social media, rewards, and email
The document discusses service marketing and internal marketing. It defines services as activities that are intangible and involve interactions between customers and providers. The service marketing triangle illustrates the internal, external, and interactive aspects of marketing services - external marketing involves communicating with customers, internal marketing involves training and motivating employees, and interactive marketing involves delivering the service. The objectives of internal marketing are to develop employee awareness of their roles, motivate employees to be customer-oriented, and obtain personnel committed to serving customers.
Driving change in banking bank marketing pov may2015 v 3.5 updated final Chris Yaldezian
This document discusses the disruption of traditional retail banking by non-traditional banking options. It notes billions lost in revenue, challenges to brand loyalty, and rapidly changing customer expectations and technologies. It states that established tech companies and fintech startups are entering financial services with new offerings that appeal to diverse groups like millennials. Peer-to-peer lending platforms are allowing customers to bypass retail banks for loans. The document advocates that banks improve understanding of individual customers, accelerate digital transformation, and deliver improved mobile banking experiences to meet changing customer needs.
A project report on customer relationship management in J&K BankAdil Hussain
The document is a project report on customer relationship management (CRM) at Jammu and Kashmir Bank. It includes an introduction to CRM, its characteristics and types. The project was carried out to understand customer behavior and market potential for current accounts at Jammu and Kashmir Bank's South branch. It analyzes data collected and makes recommendations to improve CRM. The report contains typical sections like preface, acknowledgement, certificate, declaration and bibliography.
This document provides a literature review on customer relationship management (CRM) in the banking sector. It defines CRM and discusses its importance and objectives in banking. It also summarizes various studies on CRM implementation and success stories in banking. The proposed research methodology is a qualitative case study approach involving interviews with bank customers and employees to understand their experiences with and perspectives on CRM. The interviews will explore topics like products/services, customer service, and technology use. The goal is to assess if CRM improves customer satisfaction in banking.
This document discusses Commercial Bank's application of the 7Ps marketing mix model. It provides details on how Commercial Bank addresses each P: Product (core and augmented offerings), Price (interest rates and fees), Place (branch and ATM network), Promotion (advertising, PR, telemarketing), People (prioritizing employees), Process (market research and customer feedback), and Physical Evidence (signage, reports, dress code). Commercial Bank aims to understand customer needs and deliver a unique experience through its 7Ps strategies.
This document provides information about ICICI Bank, one of the largest banks in India. It discusses ICICI Bank's history, starting as a subsidiary of Industrial Credit and Investment Corporation of India in 1994. Over time, ICICI Bank has grown to become the second largest bank in India with over 3,800 branches. The document outlines ICICI Bank's expansion nationally and internationally, and its transition to offering diverse banking products and services to both corporate and retail customers.
The document discusses marketing techniques and strategies used in the financial services industry. It covers topics such as changing customer needs, criteria for investment decisions, and various technological tools used for service delivery. Specifically, it examines how banks in India have adopted marketing approaches and now focus on customer needs, use technology like ATMs, online and telephone banking, and ensure physical locations and clean, comfortable branch environments to attract customers. However, many customers still do not have access to some technological services that banks offer. The document emphasizes the importance of understanding customers and using marketing techniques to build relationships and meet their diverse financial needs.
1) The document discusses the effect of service quality, customer relationship marketing, switching intention, and customer retention at PT Bank Rakyat Indonesia Iskandar Muda Branch in Medan, North Sumatra, Indonesia.
2) It analyzes how service quality and customer relationship marketing can directly or indirectly through switching intention influence customer retention.
3) The research found that service quality and customer relationship marketing positively and significantly influence switching intention and customer retention both directly and indirectly through switching intention.
Crm in axis bank stage 2 mid-review of the projectRajnish Dubey
This document provides an outline for a project on customer relationship management (CRM) in Axis Bank. It includes an introduction to CRM, the role of CRM in banks, an overview of Axis Bank, and planned sections on analyzing the current banking scenario, customer retention strategies, and the benefits of retention marketing. The project will be completed by a group of 5 students - Mangesh Jadhav, Rajnish Dubey, Sadiq Quadric, Sonia Sharma, and Varun Gupta.
Current Scenario of Different Type of Services Marketing and Delivery in Cust...Dr. Amarjeet Singh
A Significance of customer relationship management, CRM in banking sector and their benefit to their customer, principles of CRM, challenges for implementation. Profile of sample bank and their working performance were discussed perception of service quality of public and private sectors banks and their expectations in this regard and discussed in forthcoming the social economic profile of the respondents is disused.
The concept of CRM is vital to the insurance sector. Good customer service is the bust brand ambassador for any mode of insurance. The entire business process consists of highly integrated efforts to discover, create, arouse and satisfy customer need. The modern business has realized it and is making all out efforts to become customer-centric across the globe. Hence, the customer relationship management is not a once-for-all affair but a continuous process. It is the integral approach of dealing with customer by deploying the advanced information technology.
The Hospitality industry a huge potential for Social CRM. The hospitality industry thrives on two basic factors-segmentation & uniqueness. Apart from the regular promises of customer satisfaction, it is the identity or rather the personality on hotel that really matter. Customer relationship management, particularly on hotel chin level, is very challenging but also very important, as the hospitality industry deals with perishable goods and need to mange supply and demand with a sure instinct.
Axis Bank marketing strategy presentation submitted as part of group assignment on Marketing Strategy by our SMP09 group. Presentation submitted to Prof. Ramanuj Majumdar, IIMC Kolkata.
This document summarizes a project submitted for a Bachelor of Commerce degree focusing on retail banking services at HDFC Bank. The project includes an introduction to retail banking, an overview of HDFC Bank's retail banking products and services, a literature review on retail banking research, and a description of the project's research methodology drawing on primary customer survey data and secondary sources. The objective is to analyze customer satisfaction levels and identify opportunities to improve HDFC Bank's retail banking services.
700mila ore le ore della vita media di un uomoaesse
slide collegate all'incontro di monitoraggio del progetto "Generazione in-dipendente" (volto alla prevenzione dell’uso di “alcol, fumo e delle nuove dipendenze patologiche”) finanziato dalla Regione Sicilia, Assessorato della Famiglia, delle Politiche Sociali e del Lavoro Dipartimento della Famiglia e delle Politiche Sociali.
Messina, 1 dicembre 2015
Relazione della Prof.ssa Graziella Catanzaro
This document is a translation agreement between Dr. Katja Mruck (Author) and Ching-Chen Mao (Translator) regarding translating an article titled "National Initiatives in Europe" from German to simplified and traditional Chinese. The agreement grants Mao the right to translate and publish the work in print and digital formats, including e-books and online databases. Mao agrees to accurately translate the work without changes except those necessary to produce an idiomatic translation that remains faithful to the original work. There are no royalties to be paid as the translation is being done on a pro bono basis to promote open access in Chinese scholarly communities. Copyright of the work remains with the Author.
A empresa de tecnologia anunciou um novo sistema operacional para computadores pessoais. O novo sistema é mais rápido e seguro que o anterior, com melhorias de desempenho e privacidade para os usuários. A nova versão estará disponível para download gratuito a partir do próximo mês.
The document discusses bank marketing in India. It begins with defining key terms like banks, the financial system, and the origins of the word "bank." It then discusses the evolution of marketing concepts in banking and how marketing helps banks achieve objectives. It also covers topics like market research, competition in banking, applying marketing concepts to banks, and the meaning of bank marketing. Finally, it provides examples of market research studies conducted by various Indian banks.
Comparative study of promotional strategies adopted by public and private sec...prakash200
The document discusses and compares the promotional strategies used by public and private sector banks in India. It finds that private banks utilize more personalized promotional approaches like personal selling and direct marketing, while public banks rely more on mass media advertising. A survey of 300 bank customers found that most use savings accounts and were influenced by friends/family in their bank choice. Respondents perceived private bank promotions as more effective but found public bank information more reliable. Television advertising was viewed as the most impactful promotional tool for banks. Overall, private banks advertise more aggressively but public banks are seen as more trustworthy.
The document discusses marketing of banking products and services. It provides an overview of key banking concepts like types of banks in India, commercial and economic roles of banks, and what is bank marketing. It explains various marketing strategies banks use like segmentation, targeting, positioning, and the 4Ps of marketing - product, price, place, promotion. It also discusses internal marketing and interactive marketing. The document concludes with a case study on marketing of services by ICICI Bank using the 7Ps framework.
This document provides an overview of bank marketing in India. It discusses the origin and definition of banks, the financial system in India, the evolution of marketing concepts, and how marketing applies specifically to banking. It defines bank marketing as satisfying customers' financial needs more effectively than competitors while achieving organizational objectives. The document also discusses the importance of market research, segmentation, and developing a marketing mix for banking services. It provides examples of market research studies conducted by various Indian banks.
The document discusses marketing strategies for banks in India. It begins by defining bank marketing and noting that private sector and foreign banks have grown faster than public sector banks on key performance metrics like deposits, advances, interest income, and profits. It then discusses the various products and services offered by banks, the marketing approaches used, and challenges faced in bank marketing. Finally, it suggests strategies for public sector banks to enhance their marketing, such as emphasizing term deposits, developing attractive products, effective branding, increasing awareness among customers like women, and educating customers.
Goal diggers Marketing managment Marketing Mix 7p's of Amana BankNimeshAnuradha1
This document provides information about Amana Bank in Sri Lanka including:
- An overview of Amana Bank's financial performance, branches, employees, and customers.
- Details on Amana Bank's vision to be a leader in providing equitable financial solutions and earning customer trust.
- An explanation of how the 7Ps of marketing (Product, Place, Price, Promotion, Physical Evidence, People, Processes) are applied at Amana Bank, describing their products, branches, pricing, promotions, physical environment, employees, and processes.
- Specific examples of Amana Bank's products like doorstep banking and debit cards, their pricing strategies, and promotional activities like social media, rewards, and email
The document discusses service marketing and internal marketing. It defines services as activities that are intangible and involve interactions between customers and providers. The service marketing triangle illustrates the internal, external, and interactive aspects of marketing services - external marketing involves communicating with customers, internal marketing involves training and motivating employees, and interactive marketing involves delivering the service. The objectives of internal marketing are to develop employee awareness of their roles, motivate employees to be customer-oriented, and obtain personnel committed to serving customers.
Driving change in banking bank marketing pov may2015 v 3.5 updated final Chris Yaldezian
This document discusses the disruption of traditional retail banking by non-traditional banking options. It notes billions lost in revenue, challenges to brand loyalty, and rapidly changing customer expectations and technologies. It states that established tech companies and fintech startups are entering financial services with new offerings that appeal to diverse groups like millennials. Peer-to-peer lending platforms are allowing customers to bypass retail banks for loans. The document advocates that banks improve understanding of individual customers, accelerate digital transformation, and deliver improved mobile banking experiences to meet changing customer needs.
A project report on customer relationship management in J&K BankAdil Hussain
The document is a project report on customer relationship management (CRM) at Jammu and Kashmir Bank. It includes an introduction to CRM, its characteristics and types. The project was carried out to understand customer behavior and market potential for current accounts at Jammu and Kashmir Bank's South branch. It analyzes data collected and makes recommendations to improve CRM. The report contains typical sections like preface, acknowledgement, certificate, declaration and bibliography.
This document provides a literature review on customer relationship management (CRM) in the banking sector. It defines CRM and discusses its importance and objectives in banking. It also summarizes various studies on CRM implementation and success stories in banking. The proposed research methodology is a qualitative case study approach involving interviews with bank customers and employees to understand their experiences with and perspectives on CRM. The interviews will explore topics like products/services, customer service, and technology use. The goal is to assess if CRM improves customer satisfaction in banking.
This document discusses Commercial Bank's application of the 7Ps marketing mix model. It provides details on how Commercial Bank addresses each P: Product (core and augmented offerings), Price (interest rates and fees), Place (branch and ATM network), Promotion (advertising, PR, telemarketing), People (prioritizing employees), Process (market research and customer feedback), and Physical Evidence (signage, reports, dress code). Commercial Bank aims to understand customer needs and deliver a unique experience through its 7Ps strategies.
This document provides information about ICICI Bank, one of the largest banks in India. It discusses ICICI Bank's history, starting as a subsidiary of Industrial Credit and Investment Corporation of India in 1994. Over time, ICICI Bank has grown to become the second largest bank in India with over 3,800 branches. The document outlines ICICI Bank's expansion nationally and internationally, and its transition to offering diverse banking products and services to both corporate and retail customers.
The document discusses marketing techniques and strategies used in the financial services industry. It covers topics such as changing customer needs, criteria for investment decisions, and various technological tools used for service delivery. Specifically, it examines how banks in India have adopted marketing approaches and now focus on customer needs, use technology like ATMs, online and telephone banking, and ensure physical locations and clean, comfortable branch environments to attract customers. However, many customers still do not have access to some technological services that banks offer. The document emphasizes the importance of understanding customers and using marketing techniques to build relationships and meet their diverse financial needs.
1) The document discusses the effect of service quality, customer relationship marketing, switching intention, and customer retention at PT Bank Rakyat Indonesia Iskandar Muda Branch in Medan, North Sumatra, Indonesia.
2) It analyzes how service quality and customer relationship marketing can directly or indirectly through switching intention influence customer retention.
3) The research found that service quality and customer relationship marketing positively and significantly influence switching intention and customer retention both directly and indirectly through switching intention.
Crm in axis bank stage 2 mid-review of the projectRajnish Dubey
This document provides an outline for a project on customer relationship management (CRM) in Axis Bank. It includes an introduction to CRM, the role of CRM in banks, an overview of Axis Bank, and planned sections on analyzing the current banking scenario, customer retention strategies, and the benefits of retention marketing. The project will be completed by a group of 5 students - Mangesh Jadhav, Rajnish Dubey, Sadiq Quadric, Sonia Sharma, and Varun Gupta.
Current Scenario of Different Type of Services Marketing and Delivery in Cust...Dr. Amarjeet Singh
A Significance of customer relationship management, CRM in banking sector and their benefit to their customer, principles of CRM, challenges for implementation. Profile of sample bank and their working performance were discussed perception of service quality of public and private sectors banks and their expectations in this regard and discussed in forthcoming the social economic profile of the respondents is disused.
The concept of CRM is vital to the insurance sector. Good customer service is the bust brand ambassador for any mode of insurance. The entire business process consists of highly integrated efforts to discover, create, arouse and satisfy customer need. The modern business has realized it and is making all out efforts to become customer-centric across the globe. Hence, the customer relationship management is not a once-for-all affair but a continuous process. It is the integral approach of dealing with customer by deploying the advanced information technology.
The Hospitality industry a huge potential for Social CRM. The hospitality industry thrives on two basic factors-segmentation & uniqueness. Apart from the regular promises of customer satisfaction, it is the identity or rather the personality on hotel that really matter. Customer relationship management, particularly on hotel chin level, is very challenging but also very important, as the hospitality industry deals with perishable goods and need to mange supply and demand with a sure instinct.
Axis Bank marketing strategy presentation submitted as part of group assignment on Marketing Strategy by our SMP09 group. Presentation submitted to Prof. Ramanuj Majumdar, IIMC Kolkata.
This document summarizes a project submitted for a Bachelor of Commerce degree focusing on retail banking services at HDFC Bank. The project includes an introduction to retail banking, an overview of HDFC Bank's retail banking products and services, a literature review on retail banking research, and a description of the project's research methodology drawing on primary customer survey data and secondary sources. The objective is to analyze customer satisfaction levels and identify opportunities to improve HDFC Bank's retail banking services.
700mila ore le ore della vita media di un uomoaesse
slide collegate all'incontro di monitoraggio del progetto "Generazione in-dipendente" (volto alla prevenzione dell’uso di “alcol, fumo e delle nuove dipendenze patologiche”) finanziato dalla Regione Sicilia, Assessorato della Famiglia, delle Politiche Sociali e del Lavoro Dipartimento della Famiglia e delle Politiche Sociali.
Messina, 1 dicembre 2015
Relazione della Prof.ssa Graziella Catanzaro
This document is a translation agreement between Dr. Katja Mruck (Author) and Ching-Chen Mao (Translator) regarding translating an article titled "National Initiatives in Europe" from German to simplified and traditional Chinese. The agreement grants Mao the right to translate and publish the work in print and digital formats, including e-books and online databases. Mao agrees to accurately translate the work without changes except those necessary to produce an idiomatic translation that remains faithful to the original work. There are no royalties to be paid as the translation is being done on a pro bono basis to promote open access in Chinese scholarly communities. Copyright of the work remains with the Author.
A empresa de tecnologia anunciou um novo sistema operacional para computadores pessoais. O novo sistema é mais rápido e seguro que o anterior, com melhorias de desempenho e privacidade para os usuários. A nova versão estará disponível para download gratuito a partir do próximo mês.
This document summarizes an organizational study and specialization study conducted at Rico Winery Pvt Ltd and Anand Rathi Share & Stock Brokers Ltd in Vijayapur.
The organizational study at Rico Winery examines the company's operations including production of wines, marketing, departments, finances, and future plans. It also provides a SWOT analysis. The specialization study at Anand Rathi analyzes select commodity price fluctuations by studying the markets for coriander, cumin seeds, turmeric, and cardamom. Key findings include factors influencing prices and current market trends for these commodities. Suggestions are provided to create more awareness of commodity markets and develop a more user-friendly trading environment.
BSRIA's Blanca Beato-Arribas presented in Finland in February 2016 on Isolation Room testing. Featured elements include mock-up testing, validation, airtightness among others.
Better Bidding for Facilities Management Contractschrisdpayne
These slides accompany our online webinar on 'Managing complex bids for facilities management and other support service opportunities'. To attend one of our webinars free of charge, visit our website at www.cssconsultancy.com and register.
This training provider specializes in helping grocery suppliers improve their soft skills to secure business from the UK's top four supermarkets. Clients choose them for their experience in the industry and unique "Sticky Learning" training method. The document then provides an infographic timeline showing how various UK supermarket websites have evolved over the years since 1996.
The document discusses leadership challenges and different thinking styles. It introduces the concept of "whole brain thinking" which is the ability to consider different perspectives and act outside one's preferred thinking style. It also discusses communicating with others based on their preferences on an assessment called the HBDI profile, which measures tendencies across four quadrants: How-left, How-right, What-left, What-right. Effective coaching requires understanding one's own profile and a coachee's profile to have productive discussions.
Category Management is becoming increasingly important for companies to drive growth and profitability. There are three major trends transforming the consumer packaged goods ecosystem: growing retailer power, the importance of shopper marketing, and harnessing insights from big data. Category Management addresses these trends by ensuring companies understand customers and shoppers at the category level. To master Category Management, companies must progress along a maturity curve with investments in people, processes, and tools. This will allow them to better understand shoppers, customize assortments for retailers, and generate insights from large and diverse data sources.
This document provides an overview of key concepts in services marketing. It begins with defining services marketing and outlining its characteristics. It then discusses the evaluation and growth of the service sector. Key topics covered include the nature and classification of services, challenges in services marketing, assessing market potential, and the marketing mix. The document also examines segments like service design, delivery, pricing, promotion, and strategies for different industries like healthcare, hospitality, and tourism.
The document discusses key concepts in services marketing. It begins by defining a service and the characteristics of services marketing. It then covers the growth and classification of the service sector. Some of the main challenges in services marketing are the intangible and perishable nature of services. The document also examines aspects of service design such as the service lifecycle, developing new services through tools like service blueprints, and identifying gaps in service quality.
The service marketing triangle involves external marketing, internal marketing, and interactive marketing. External marketing involves promoting the service to end-users, internal marketing involves training employees to effectively deliver the service, and interactive marketing refers to the crucial service encounter between employees and customers.
The service marketing mix (7Ps) encompasses product, price, place, promotion, people, process, and physical evidence. Getting each element right is important for marketing a service, as services have unique characteristics such as intangibility and perishability compared to products. People are especially important as customers directly interact with employees during service delivery.
This document provides an overview of marketing and delivery channels in retail banking. It discusses:
1. Marketing is key to success in retail banking as it focuses on building a large customer base. The 7 Ps of marketing mix (Product, Price, Promotion, Place, People, Process, and Physical Evidence) are important for retail banking strategies.
2. Delivery channels include physical branches as well as remote channels like ATMs, internet banking, and mobile banking. While branches provide personal service, remote channels offer convenience.
3. Effective channel design and customer experience are essential, as customers want both human interaction and convenience. Multi-channel distribution allows for total customer experience based on needs.
Marketing of financial services involves identifying customer needs and developing products and services to meet those needs profitably. It is more complex than marketing goods because financial services are intangible promises. Effective marketing of financial services defines clear objectives, collects customer information to identify needs, and determines the volume, cost, and profitability of reaching different customer segments. Key elements of a marketing strategy include focusing on customers, capturing growth opportunities through innovation and differentiation, ensuring quality, and using market segmentation to target distinct customer groups. Marketing customer information files (MCIFs) systems organize customer data to assist in identifying profitable segments and customers for cross-selling opportunities.
This document is a project report submitted by Kshamangi Raut to Prof. Japita Bhowmik for the MMS course at YMT College of Management in Navi Mumbai, India. The report is on the topic of service marketing and includes sections on service marketing concepts, the GAP model, customer expectations of services, building customer relationships, service blueprints, and other topics related to service marketing. The document provides an executive summary and table of contents to outline the structure and content of the service marketing report.
This document provides an overview of marketing essentials including:
1. A comparison of the traditional 4Ps marketing mix to the expanded 7Ps mix, which includes additional elements of People, Process, and Physical Evidence for services.
2. An explanation of the marketing planning process, including developing corporate and marketing strategies through situation analysis, objective setting, and implementation with control.
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The documents discuss several key marketing concepts for hospitality businesses. The Marketing Concept suggests focusing all efforts on identifying and satisfying customer needs. The Strategic Marketing Concept adds that businesses must sustain a competitive advantage. The Societal Marketing Concept states that businesses should consider the impact on society. Marketing myopia can occur when businesses define themselves too narrowly around specific goods and services rather than customer needs. The service-profit chain model suggests that treating employees well leads to improved customer satisfaction and loyalty, and ultimately better financial performance.
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The document discusses the marketing mix for services. It explains that the traditional 4Ps marketing mix (product, price, place, promotion) has been extended to the 7Ps for services marketing by adding people, physical evidence, and process. It emphasizes that for services, employees play a key role in shaping customer perceptions so training and standards are important. It also discusses using physical cues and efficient processes to communicate quality to customers. Finally, it covers developing differential advantages and branding to differentiate your service from competitors.
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MOS - Service Comparison from Consumer Perspective in Banking Sector
1. Service Comparison from Consumer
Perspective in Banking Sector
(Private vs. Public Sector Banks)
Bishnu Kumar 11EX-013
Davinder Singh 11EX-015
Pankaj Mohindroo 11EX-038
Prateek Wadhwa 11EX-040
Rajat Goel 11EX-043
Institute of Management Technology
Ghaziabad
2. Marketing of Services PGDM-Exec 2012
Table of Contents
Introduction .................................................................................................................................................. 2
What is marketing? ................................................................................................................................... 2
7 Ps of Bank Marketing ................................................................................................................................. 3
1. Product Mix ....................................................................................................................................... 3
2. Promotional Mix ............................................................................................................................... 4
3. Price Mix ........................................................................................................................................... 5
4. The Place ........................................................................................................................................... 6
5. The People ........................................................................................................................................ 6
6. The Process ....................................................................................................................................... 7
7. The Physical Evidence ....................................................................................................................... 7
Service Marketing in Banking Sector ............................................................................................................ 8
Structure of Banking Market......................................................................................................................... 8
Research Methodology ............................................................................................................................... 10
Analysis and Interpretation of Survey Data ................................................................................................ 12
Demographic Statistics ........................................................................................................................... 12
Survey Statistics ...................................................................................................................................... 14
Research Findings ....................................................................................................................................... 17
Conclusion ................................................................................................................................................... 18
Suggestions ................................................................................................................................................. 18
Appendix I – Questionnaire ........................................................................................................................ 19
References .................................................................................................................................................. 20
1
3. Marketing of Services PGDM-Exec 2012
Introduction
Services marketing professionals need to determine how to effectively
communicate the services, process, deliverables and benefits of the products in
order to build client confidence. Tangible signals that indicate services quality and
value come from personal interaction, trusted recommendations, clear
communications, equipment used or processes followed and pricing of the products.
Services marketing is marketing based on relationship and value. It may be used
to market a service or a product. Marketing a service-base business is different
from marketing a goods-base business. There are several major differences,
including:
1. The buyer purchases are intangible
2. The service may be based on the reputation of a single person
3. Its more difficult to compare the quality of similar services
4. The buyer cannot return the service
The major difference in the services marketing versus regular marketing is that
instead of the traditional "4 P's," Product, Price, Place, Promotion, there are three
additional "P's" consisting of People, Physical evidence, and Process. Service
marketing also includes the service scape referring to but not limited to the
aesthetic appearance of the business from the outside, the inside, and the general
appearance of the employees themselves. Service Marketing has been relatively
gaining ground in the overall spectrum of educational marketing as developed
economies move farther away from industrial importance to service oriented
economies.
What is marketing?
Marketing is the flow of goods and services from the producer to consumer. It is
based on relationship and value. In common parlance it is the distribution and sale
of goods and services. Marketing can be differentiated as:
· Marketing of products
· Marketing of services.
Marketing includes the services of all those indulged may it be then the
wholesaler retailer, Warehouse keeper, transport etc. In this modern age of
competition marketing of a product or service plays a key role. It is estimated that
almost 50% of the price paid for a commodity goes to the marketing of the product
in US. Marketing is now said to be a term which has no particular definition as the
definitions change every day.
"Managing the evidence" refers to the act of informing customers that the service
encounter has been performed successfully. It is best done in subtle ways like
providing examples or descriptions of good and poor service that can be used as a
basis of comparison. The underlying rationale is that a customer might not
appreciate the full worth of the service if they do not have a good benchmark for
comparisons.
However, it is worth remembering that many of the concepts, as well as many of
the specific techniques, will work equally well whether they are directed at products
or services. In particular, developing a marketing strategy is much the same for
2
4. Marketing of Services PGDM-Exec 2012
products and services, in that it involves selecting target markets and formulating a
marketing mix. Thus, instead of talking of 'goods' and of 'services', it is better to
talk of 'tangibles' and 'intangibles'. Levitt also went on to suggest that marketing a
physical product is often more concerned with intangible aspects (frequently the
`product service' elements of the total package) than with its physical sales after
service. Charles Revlon made a famous comment regarding the business of Revlon
Inc.: `In the factory we make cosmetics. In the store we sell hope.' Arguably,
service industry marketing merely approaches the problems from the opposite end
of the same spectrum.
7 Ps of Bank Marketing
1. Product Mix
The banks primarily deal in services and therefore, the formulation of product
mix is required to be in the face of changing business environment conditions.
Of course the public sector commercial banks have launched number of policies
and programs for the development of backward regions and welfare of the
weaker sections of the society but at the same time it is also right to mention
that their development oriented welfare programs are not optimal to the
national socio economic requirements. A proportional contraction of the number
of customers is psychology, the increasing expectation, the rising income, the
changing lifestyle, the increasing domination of foreign banks and the changing
needs and requirements of the customers at large make it essential that they
innovate their service mix. The development of new generic product, especially
when the business environment is regulated is found to be a difficult task.
However, it is pertinent that banks formulate a package in tune with the
changing business conditions. Against this background, we find it significant
that the banking organizations minify, magnify, combine and modify their
service mix.
In the formulation of service mix, the banks can follow two guidelines, first is
related to the processing of product to market needs and the second is
concerned with the processing of market needs to product. In the first process,
the needs to the target market are anticipated and visualized and therefore, we
expect the prices likely to be productive. In the second process, the banks react
to the expressed needs and therefore we consider it reactive. It is essential that
every product is measured up to the accepted technical standards. Technical
perfection in service is meant prompt delivery, quick disposal, and presentation
of right data, right filing, proper documentation or so.
Marketing aims at not only offering but also at creatinginnovating the
servicesschemes found new to the competitors vis-a-vis to the customers.
The additional attractions, the product attractiveness would be a plus point of
its mix, which would help you in many ways. This makes it essential that the
banking organizations are sincere to the innovations process and try to
enrich their peripheral services much earlier than the competitors. We also
find the product portfolio of the banks. While formulating the services mix, it
3
5. Marketing of Services PGDM-Exec 2012
is also pertinent that the bank professionals make possible affair
synchronization of core and peripheral services. To be more specific, the
peripheral services need an intensive care since the core services are found
by and large the same. thus appears to be an important functional
responsibility of marketing professionals.
2. Promotional Mix
Promotion mix includes advertising, publicity, sales promotion, word-of-
mouth promotion, personal selling and telemarketing, Each of these service
needs to be applied in different degree. These components can be useful in
banking business in the following ways:-
Advertising
Advertising is paid form of communication. Banking organizations use this
component of the promotion mix with motto of informing, sensing and
persuading the customers. While advertising it is essential to be aware of key
decision making areas so that it helps banks at micro and macro levels.
Finalizing the budget
This is related to the formulation of the budget for advertisement. The bank
professionals, senior executives and even the policy planners are found to be
involved in the process. The business of a bank determines the scale of the
advertisement budget. In addition, the competition also plays a decisive role in
determining the budget taking in account the change in the rival‟s strategy.
Selecting a suitable vehicle
There are a number of devices to advertise, such as broad cast media,
telecast media and print media. In the face of the budgetary provisions, it is
necessary to select a suitable vehicle. For promoting the banking business, the
print media is found to be economic as well as effective.
Making possible creative
The advertising professionals bear the responsibility of making the appeals,
slogans and messages more creative. Here, creative means making the
advertisement programs distinct to the competitive organizations, which are
active in influencing the impulse of the customers and successful in informing
and sensing the customers. This requires an in-depth knowledge of the
receiving capacity of the target market for which the advertisements are
designed.
Testing the effectiveness
It bears an analogous significance that our advertisements are effective in
influencing the impulse of customers by energizing persuasion. For making the
process effective, it is essential to test the effectiveness before launching of the
commercial advertisements.
Managers: Instrumentality of branch
At micro level, a branch manager bears the responsibility of advertising
locally so that the messages reach the target audience.
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6. Marketing of Services PGDM-Exec 2012
Characters and themes
At apex level it is also important that while advertising the senior executives
watch the process minutely and select events, characters having a regional
orientation. The popular characters and sensational moments are likely to be
impact generating. The theme for appeals and messages also needs due
attention. Of course, they have a legitimate right of advertising but it is not
meant that like the goods manufacturing organizations, the service generating
organizations also start making invasion on culture. It is necessary to regulate a
bias to gender, profession, region or so.
Public relations
In the banking services the effectiveness of public Relations is found in high
magnitude. It is in this context that difference is found in designing of the mix
for promoting the banking services.
Telemarketing
The telemarketing is a process of promoting the business with the help of
sophisticated communication network. Telemarketing is found instrumental in
advertising the banking services and the banking organizations can use this tool
of the promotion mix both for advertising and selling. This minimizes the
dependence of banking organizations on sales people and just a counter or
center as listed in the call numbers may service multi- dimensional services.
Telemarketing is likely to play an incremental role in marketing the banking
services. The leading foreign banks and even some of the private sector
commercial banks have been found promoting telemarketing and they have
been getting positive results for their efforts.
Word-Of- Mouth
Much communication about the banking services actually takes place by
word-of-mouth information, which is also known as word- of- mouth promotion.
The oral publicity plays an important role in eliminating the negative comments
and improving the services. This also helps the banker to know the feedback,
which may simplify the task of improving the quality of services. This
component of promotion mix is not to influence budget adversely or generate
additional financial burden. By improving the quality of services and by offering
small gifts to the word- of- mouth promoters, bankers can get more business
command in their area.
The above facts make it clear that such kind of promotion is influenced by a
number of factors. The most dominating factor is the quality of services offered.
The bank professionals, the frontline staff and the senior executives should
realize that degeneration in quality would make this tool effective.
3. Price Mix
In the formulation of marketing mix, the pricing decisions occupy a place of
outstanding significance. The pricing decisions include the decisions related to
interest and fee or commission charged by banks. Pricing decisions are found
instrumental in motivating or influencing the target market. The RBI regulates
the rate of interest and the Indian Banks‟ Association controls other charges. In
5
7. Marketing of Services PGDM-Exec 2012
our country, the price mix is more important because the banking organizations
are also supposed to sub serve the interests of the weaker sections and the
backward regions. Also in making the pricing decisions, the Government Of
India instrumentalists or commands everything as a shadow policy maker. This
also complicates the price mix for banking sector.
Pricing policy of a bank is considered important for raising the number of
customer vis-à-vis the accretion of deposits. Also the quality of service provided
has direct relationship with the fees charged. Thus while deciding the price mix
customer services rank the top position. Banks also have to take the value
satisfaction variable in to consideration. The value and satisfaction cannot be
quantified in terms of money since it differs from person to person. Keeping in
view the level of satisfaction of a particular segment, the banks have to frame
the pricing strategies.
The banking organizations are required to frame two-fold strategies. First,
the strategy is concerned with interest and fee charged and the second strategy
is related to the interest paid. Since both the strategies throw a vice-versa
impact, it is important that banks attempt to establish a correlation between
two. It is essential that both the buyers as well as the sellers have feeling of
winning.
4. The Place
Places refer to the establishments and functioning of the network of branches
and other offices through banking services are delivered. Objective is to offer
the right product, at right place, at right time and at a minimum cost. The more
branches and customer access points a bank has, more likely is to gain
business from different sections of people because the proximity of a branch
plays a determinant role in selecting a bank.
5. The People
Sophisticated technologies no doubt, inject life and strength to our efficiency
but the instrumentality of sophisticated technologies start turning sour if the
human resources are not managed in a right fashion. We can‟t deny the fact
that if foreign banks are performing fantastically; it is not only due to the
sophisticated information technologies they use but the result of a fair
synchronization of new information technologies and a team of personally
committed employees. The moment they witness lack of productive human
resources even the new generation of information technologies would hardly
produce the desired results. In addition to the professional excellence, the
employees working in the foreign banks are generally value based.
Thus we accept the fact that generation of efficiency is substantially
influenced by the quality of human resources. The quality for banking sector is
an aggregation of all the properties, which are found essential for generating
the efficiency and projecting a fair image. Even efficiency essentially is
supported by ethical dimension, humanity and humanism. The development of
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8. Marketing of Services PGDM-Exec 2012
human resources makes the ways for the formation of human capital. Human
resources can be developed through education, training and by psychological
tests. Even incentives can inject efficiency and can motivate people for
productive and qualitative work.
6. The Process
• Flow of activities: all the major activities of banks follow RBI guidelines.
There has to be adherence to certain rules and principles in the banking
operations. The activities have been segregated into various departments
accordingly.
• Standardization: banks have got standardized procedures got typical
transactions. In fact not only all the branches of a single-bank, but all the banks
have some standardization in them. This is because of the rules they are
subject to. Besides this, each of the banks has its standard forms,
documentations etc. Standardization saves a lot of time behind individual
transaction.
• Customization: There are specialty counters at each branch to deal with
customers of a particular scheme. Besides this the customers can select their
deposit period among the available alternatives.
• Number of stores: numbers of steps are usually specified and a specific
pattern is followed to minimize time taken.
• Simplicity: in banks various functions are segregated. Separate counters
exist with clear indication. Thus a customer wanting to deposit money goes to
„deposits‟ counter and does not mingle elsewhere. This makes procedures not
only simple but consume less time. Besides instruction boards in national
boards in national and regional language help the customers further.
• Customer involvement: ATM does not involve any bank employees.
Besides, during usual bank transactions, there is definite customer involvement
at some or the other place because of the money matters and signature
requires.
7. The Physical Evidence
The physical evidences include signage, reports, punch lines, other tangibles,
employee‟s dress code etc. The company‟s financial reports are issued to the
customers to emphasis or credibility. Even some of the banks follow a dress
code for their internal customers. This helps the customers to feel the ease and
comfort.
Signage: each and every bank has its logo by which a person can identify the
company. Thus such signages are significant for creating visualization and
corporate identity.
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9. Marketing of Services PGDM-Exec 2012
Tangibles: banks give pens, writing pads to the internal customers. Even the
passbooks, cheque books, etc reduce the inherent intangibility of services.
Punch lines: punch lines or the corporate statement depict the philosophy
and attitude of the bank. Banks have influential punch lines to attract the
customers.
Service Marketing in Banking Sector
Banking marketing consists of identifying the most profitable markets now and in
future, assessing the present and future needs of customers, setting business
development goals, making plans-all in the context of changing environment.
Marketing approach in banking sector had taken significance after 1950 in western
countries and then after 1980 in Turkey. New banking perceptiveness oriented
toward market had influenced banks to create new market. Banks had started to
perform marketing and planning techniques in banking in order to be able to offer
their new services efficiently.
Marketing scope in banking sector should be considered under the service
marketing framework. Performed marketing strategy is the case which is
determination of the place of financial institutions on customers‟ mind. Bank
marketing does not only include service selling of the bank but also is the function
which gets personality and image for bank on its customers‟ mind. On the other
hand, financial marketing is the function which relates uncongenitalies, differences
and non-similar applications between financial institutions and judgment standards
of their customers.
The reasons for marketing scope to have importance in banking and for banks to
interest in marketing subject can be arranged as:
Change in demographic structure: Differentiation of population in the number
and composition affect quality and attribute of customer whom benefits from
banking services.
Intense competition in financial service sector: The competition became intense
due to the growing international banking perceptiveness and recently being non-
limiting for new enterprises in the sector. Increase in liberalization of interest rates
has intensified the competition.
Bank’s wish for increasing profit: Banks have to increase their profits to create
new markets, to protect and develop their market shares and to survive on the
basis of intense competition and demographic chance levels.
Structure of Banking Market
The globalization of service industry revealed the necessity to develop the
strategy of new market entry. The analysis of market attractiveness facilitated the
decision making regarding modes of service firms‟ entry and their further expansion
into the new markets. The effectiveness of operation in the new markets depends
on comprehensive marketing planning through application of marketing techniques.
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10. Marketing of Services PGDM-Exec 2012
This project, aims to compare and contrast service marketing theory and practice
through banking sector. It firstly introduces the concept of services and analyses
the nature of services (intangibility, inseparability, variability and perishability). It
secondly develops extended marketing mix for services highlighting the importance
of people, physical cues, and processes in service management. Three types of
marketing used in service industries are being introduced: Internal Marketing,
Interactive Marketing and Evaluation Processes. Apart from that tasks that service
forms face are being discussed: Managing Differentiation, Managing Service Quality
and Managing Productivity.
Marketing activities of firms begin with determination of the market that they
want to offer their services or goods to. Firms must find out the features of the
market that it is planning to enter and analyze the existing market condition in
those areas. While marketing manager is arranging the variables under firm‟s
control, she/he should also adopt the external variables. We could call the factors
that affect banks‟ market as technological developments, legal arrangements and
competition.
List of Private Banks in India
Bank of Punjab Bank of Rajasthan Dhanalakshmi Bank
Catholic Syrian Bank Centurion Bank Development Credit Bank
City Union Bank Federal Bank Karnataka Bank
ING Vysya Bank Jammu & Kashmir Bank Laxmi Vilas Bank
HDFC Bank ICICI Bank South Indian Bank
IndusInd Bank Axis Bank United Western Bank
List of National Banks in India
Allahabad Bank IDBI Bank Bank of Baroda
Bank of Maharashtra Canara Bank Central Bank of India
Dena Bank Indian Bank OBC
Punjab National Bank SBI and Associates State Bank of Mysore
UCO Bank Vijaya Bank Punjab & Sind Bank
Syndicate Bank United Bank of India
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Research Methodology
The research carried out under the topic, was based on the combination of
primary and secondary data. The questionnaire method was adopted to collect
views of various people about the two sectors of banking industry in India. The
survey data was collected from professionals and students at various b-schools.
The sample of strategy applied in this regard was random. The research design
was a blend of descriptive and exploratory method. The ranking scale method was
applied in this process.
The research comprises of defining and redefining problems, formulating
hypothesis or suggested solutions; collecting, organizing and evaluating data,
making deductions and reaching conclusion; and at last carefully testing the
conclusions to determine whether they fit formulating hypothesis. The research
process is carried out to a series of step, which are required to be taken in
chorological order. The major marketing research steps are as follows:
Problem identification
Research design
Data collection
Data analysis & interpretation
Report Presentation
Problem Identification
The first and foremost step in this research is to identify the problem chosen for
investigation. The step has very significance, once it is said “A Problem well
identified is half way to solution”. The problem considered for investigation in this
project is the “perception of customers towards the two sectors of banking in India
in terms of services and satisfaction”.
Research Design
A research design is a master plan or model for the formal investigation. Once
the formal investigation is decided, the researcher must formulate the formal plan
of investigation. A research design is the specification of methods & procedure, for
acquiring the information needed for solving the problem. The formal investigation
plan will concentrate on the selection of sources of information and the selection of
methods and procedures for gathering the data. Data gathering forms are
prepared.
We have used the Descriptive Method of the three basic types of research design
for our study –
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12. Marketing of Services PGDM-Exec 2012
Descriptive Research Design
The descriptive study is typically concerned with determining frequency with
which something occurs or variable vary together this study is guided by an initial
hypothesis. Descriptive studies are those studies, which are concerned with
describing the characteristics of a particular individual, or of a group.
Descriptive research includes surveys and fact-finding enquiries of different
kinds. The major purpose of descriptive research is description of the state of
affairs as it exists at present. In social science and business research we quit use
the term Ex post facto research for descriptive research studies.
Data Source
Primary Data
Primary data are those data, which are obtained for the first time by the
investigator himself. In order words, by primary data we mean those data, which
are originally, i.e., those in which little or no grouping has been made, the instance
being recorded or itemized encountered.
The source of primary data used in my project is the questionnaire. Primary are
the raw data like raw material. Primary data are according to object of investigation
and used without correction. The collection of primary data requires large sum,
energy and time. Precautions are not necessary in the use of the primary data.
Secondary Data
Secondary data means data that are already available i.e; they refer to the data,
which have already been collected and analyzed by someone else. When the
researcher utilizes secondary data, then he has to look in to various sources from
where he can obtain them. In this cause he is certainly not confronted with the
problems that are usually associated with the collection of original data. Secondary
data may either be published data or unpublished data.
We have collected the primary data through Questionnaire method which consist
a series of questions whose answers could be analyzed to get a fair idea on the
situation under consideration. These questions give the respondents the liberty to
speak freely. Questionnaire had been prepared to get fair response from the
people. To obtain the best end results without any kind of biasness, get a brief idea
about sampling and benefits for making inferences for tabulations and calculations
with research instruments.
Data collection method
We have used Google Forms to get online response on the survey which was
collected on the backend spreadsheet.
Data Analysis
For the analysis of the data we have used the “Percentage & Random Sampling”
method. Percentage & Random Sampling is used to measure different psychological
aspects such as attitudes, perceptions and preference of people with the help of
certain pre-defined set of stimuli and instructions. We will show our graphical
representations in percentage.
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13. Marketing of Services PGDM-Exec 2012
Analysis and Interpretation of Survey Data
Total Respondents: 127
Demographic Statistics
Gender:
Male 82
Female 45
Age:
18-24 20
25-35 94
36-50 10
More than 50 3
Profession:
Student 33
Service 74
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Housewife 8
Business 8
Others 4
Annual Income:
Less than 2 lakh 31
2 to 5 lakh 14
5 to 10 lakh 52
10 to 25 lakh 27
More than 25 lakh 3
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Survey Statistics
Do you have Account(s) in Bank(s):
All the respondents answered as they have at least one account in a bank.
The Account(s) are with which type of Bank(s)
Public Sector 17
Private Sector 33
Both 77
Which of the below would you prefer for banking?
SBI 58
ICICI 69
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Why would you prefer the above?
ICICI SBI
Services at Branch 55 Services at Branch 21
Customer Service 59 Customer Service 13
Innovation 23 Innovation 2
Branch / ATM Availability 46 Branch / ATM Availability 17
Product Range 23 Product Range 18
How do you access your account?
Branch Banking 52
Net Banking 107
Telephone Banking 10
Mobile Banking 22
ATM 89
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How would you rate SBI and ICICI?
SBI ICICI
Poor 5 6
Average 25 23
Good 71 51
Very Good 24 34
Excellent 2 13
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Research Findings
Based on the results of the questionnaire survey, below listed are the findings –
The number of male respondents was almost double than the female
respondents.
74% respondents were in the age range of 25-35 years
Around 58% of the respondents were in the Service category
Around 41% respondents were in the annual income range of 5 to 10 lakh
whereas 21% were in the range of 10 to 25 lakh
All the respondents have atleast one account with a bank
Approx. 61% respondents have account in both public and private sector
banks whereas 26% has accounts only in private sector banks
54% respondents prefer ICICI over SBI
According to the responses we see that ICICI won over SBI on all the
given preference parameters with a major margin.
ICICI is considered more innovative than SBI
ICICI has better customer service than SBI
SBI has poor Service at Branches
ICICI has more Branch/ATM availability over SBI
Respondents majorly access their account through Netbanking and ATMs
With so many drawbacks with SBI, 56% respondents have rated it as
Good, whereas only 40% rated ICICI as good
ICICI was rated as Excellent for more than 6 times than SBI
Unique suggestions received for ICICI from the respondents –
They are good. Should try to bring in more offers for the Customers quite
frequently.
ICICI bank should become more customer friendly in terms of charges
they take on various services.
Should keep on innovating and try to improve their services day by day.
They must provide better service and response to the customers.
They can enhance the ease of enabling internet banking.
ICICI charges unnecessary fee. Its employees are all like "pooch ke batata
hoon".
ICICI should have the policy that 2 accounts can be linked with 1 mobile
no and can have transactions even with the same number without linking
the accounts online. This is currently not possible in ICICI and I faced the
same problem.
ICICI bank should become more customer friendly in terms of charges
they take on various services.
They should continuously keep on innovating and try to improve their
services day by day.
Be more user-friendly and Prompt action.
Unique suggestions received for SBI from the respondents –
SBI should be more professional in terms of Branch Banking.
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Lack of professionalism in public sector banks, quality of services is very
poor; opening an account takes longer duration than private banks etc.
public sector banks should look into these matters seriously.
Try to improve your service with low customer wait time and great CRM
quality with proper service.
Improve Service
Certain customer services like making of demand draft should be made
more economical. The Moto of profit earning on these services should be
less because it creates a better customer image.
They should come with good products
Improve the customer service.
Need to add more security features.
Bad services, late response, no proper info available.
Please improve your customer interaction by making your staff more
polite.
Technology/IT/Innovation need to happen more.
Best practices of others could be adopted.
SBI should be more professional in terms of Branch Banking.
Conclusion
Private sector banks are preferred because of their customer service and
branch services.
Both sector banks have their drawbacks but private sector is still more
preferred because of its services and availability.
Private sector should not charge unnecessary fees, because customers
these days are conscious about it and might move away or find better
banking alternatives.
Consumers are more technology oriented and prefer transacting online or
through ATMs, rather than visiting a bank branches. Hence, improving on
that front might help banks gain more customer base.
Public sector banks lack respect for their customer which is one of the
major reasons of consumers preferring private banks.
Public sector banks need to be more customers focused.
Suggestions
i. The business transaction hours can be flexible.
ii. The can open their branches at the shopping place so that customers may
have easy availability of finance.
iii. Customer complaint system can more effective and informative.
iv. Developing strong cultural values
v. Bonding with customers
vi. Responsiveness
vii. Fast & Decentralized decision making
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20. Marketing of Services PGDM-Exec 2012
Appendix I – Questionnaire
The Questionnaire used for the primary research is as below –
Demographic Information
Gender Male
Female
Age 18-24
25-35
36-50
More than 50
Profession Student
Service
Housewife
Business
Others
Annual Income Less than 2 lakh
2 to 5 lakh
5 to 10 lakh
10 to 25 lakh
More than 25 lakh
Survey Questions
Do you have Account(s) in Bank(s) Yes
No
The Account(s) are with which type of Bank(s) Public Sector
Private Sector
Both
Which of the below would you prefer for banking? SBI
ICICI
Why would you prefer the above? Services at Branch
Customer Service
Innovation
Branch / ATM Availability
Product Range
How do u access your account? Branch Banking
Net banking
Telephone Banking
Mobile Banking
ATM
How would rate SBI? Poor
Average
Good
Very Good
Excellent
How would rate ICICI? Poor
Average
Good
Very Good
Excellent
Any suggestion for the Preferred Bank?
Any suggestion for the Non-Preferred Bank?
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References
www.scribd.com
www.wikipedia.com
Marketing of Banking Products – Pradeep Revu
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