The document provides an overview of banking and finance in India. It discusses the origin of the word "bank" and defines what a bank is. It also covers the evolution of marketing concepts and their application to banking. Marketing and competition in the banking industry are increasing in importance as banks need to effectively target and segment customers to stay profitable in the face of new competitors. New technologies like electronic banking, phone banking, and online banking are changing how banks interact with and serve customers.
The document discusses marketing in the banking sector. It covers key aspects like the marketing mix of product, price, place and promotion. It also discusses other Ps like process, physical evidence and people. Banks need to understand customer needs and develop strategies accordingly. Marketing helps banks attract more customers, increase sales and maintain competitiveness in today's environment. Effective marketing is essential for banks to survive and grow.
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.
This document provides an overview of Axis Bank, including:
- Axis Bank was established in 1994 as the first private sector bank after reforms allowed private banks. It was jointly promoted by UTI, LIC, and other insurers.
- Axis Bank is now the third largest private sector bank in India with over 1,700 branches across the country.
- The document outlines Axis Bank's business activities, subsidiaries, promoters including UTI and LIC, and its position as one of the leading banking franchises in India.
This document is a project report on banking done as a summer internship project. It provides an overview of the banking structure in India, the Indian banking industry, and upcoming foreign banks entering India. It then discusses HDFC Bank, providing details on its founding, profile including branch and ATM growth, technology used, products and customers, business strategy, and recent developments.
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.
The document discusses banking services marketing in India. It provides an overview of the Indian banking sector, including key statistics on growth. It then discusses the major players in banking, both public and private sector banks as well as foreign banks operating in India. It also analyzes the banking industry using various frameworks like the 4 I's of banking, PEST analysis, 7 P's of the banking sector, and service quality frameworks like RATER to assess customer experience.
Presentation on summer internship project of bank priyanka sarraf
A SUMMER INTERNSHIP ON “A Comparative study of Himalayan Bank Ltd. and Everest Bank Ltd., with special reference to customer feedback on product and services offered by Himalayan Bank Limited”
The document discusses marketing in the banking sector. It covers key aspects like the marketing mix of product, price, place and promotion. It also discusses other Ps like process, physical evidence and people. Banks need to understand customer needs and develop strategies accordingly. Marketing helps banks attract more customers, increase sales and maintain competitiveness in today's environment. Effective marketing is essential for banks to survive and grow.
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.
This document provides an overview of Axis Bank, including:
- Axis Bank was established in 1994 as the first private sector bank after reforms allowed private banks. It was jointly promoted by UTI, LIC, and other insurers.
- Axis Bank is now the third largest private sector bank in India with over 1,700 branches across the country.
- The document outlines Axis Bank's business activities, subsidiaries, promoters including UTI and LIC, and its position as one of the leading banking franchises in India.
This document is a project report on banking done as a summer internship project. It provides an overview of the banking structure in India, the Indian banking industry, and upcoming foreign banks entering India. It then discusses HDFC Bank, providing details on its founding, profile including branch and ATM growth, technology used, products and customers, business strategy, and recent developments.
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.
The document discusses banking services marketing in India. It provides an overview of the Indian banking sector, including key statistics on growth. It then discusses the major players in banking, both public and private sector banks as well as foreign banks operating in India. It also analyzes the banking industry using various frameworks like the 4 I's of banking, PEST analysis, 7 P's of the banking sector, and service quality frameworks like RATER to assess customer experience.
Presentation on summer internship project of bank priyanka sarraf
A SUMMER INTERNSHIP ON “A Comparative study of Himalayan Bank Ltd. and Everest Bank Ltd., with special reference to customer feedback on product and services offered by Himalayan Bank Limited”
Customer perception towards banking servicesPriyank Thada
This document provides an overview of a dissertation project submitted by Priyank Thada for partial fulfillment of a BBA degree. It includes a certificate from the faculty guide, Dr. Nilesh Pandya, acknowledging supervision of the project titled "CUSTOMER PERCEPTION TOWARDS BANKING SERVICES". The document also includes a declaration by Priyank Thada and acknowledgments. It then provides an executive summary of the dissertation and a table of contents outlining the various sections of the project.
HDFC Bank uses CRM to achieve its goal of strengthening customer relationships and increasing profitability. CRM helps HDFC Bank consolidate customer information, provide personalized services, improve productivity and remove operational inefficiencies. HDFC Bank implemented a CRM system to integrate data, enable cross-selling, customize offerings and address competition. The CRM system has helped HDFC Bank increase its customer base significantly and generate hundreds of thousands of personalized offers and leads per month. Customer feedback is valuable for analyzing trends and developing business strategies.
Project on retail banking with reference to syndicate bank.Mayanksng07
This document provides an overview of retail banking in India. It discusses the growth of retail lending in India since liberalization in 1991. Retail lending has grown significantly over the past decade due to increasing disposable income, a growing middle class, and changing attitudes towards loans. However, retail loan growth has not been uniform and banks need appropriate strategies like inclusive and responsible banking to ensure sustainable growth. The document also discusses major players in retail banking in India like SBI and HDFC Bank and examines challenges for foreign banks in expanding retail operations in India like regulatory restrictions and lack of strong credit information infrastructure. It analyzes strategies for banks like focusing on customer service, risk management, and fee-based income from third party products.
The document is Yogesh Rathod's SIP project report submitted to K. S. School of Business Management in partial fulfillment of an MBA degree. The report examines home loans and builders tie-ups for State Bank of India. It includes an introduction to SBI and the student, analysis of the banking and real estate industries, methodology used in primary research with builders, findings on builders' perceptions and satisfaction with SBI services, and recommendations.
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.
Various aspects of service marketing in different service sector is focused in the slide. I have tried to inculcate features to help educators and students to understand the various aspects of service marketing.
PowerPoint Slide for Customer satisfaction on public and private banksPujan Kumar Saha
The document analyzes customer satisfaction levels between public and private banks in India. A survey of 200 customers found that private banks provided better customer service and facilities. Customers were more satisfied with the behavior of employees, transaction systems, availability of ATMs, interest rates and loans at private banks compared to public banks. However, customers trusted the public banking system more. The document recommends that public banks improve infrastructure, employee training, and customer services like ATMs to increase satisfaction levels.
This document provides an overview of the Jammu & Kashmir Bank in 3 paragraphs. It discusses how the bank was established in 1938 to address a lack of banking in the state of Jammu & Kashmir. The bank aimed to help people in the state overcome economic backwardness by providing banking services. It opened its first branches in Srinagar and Jammu. Over time, the bank grew its operations both within and outside of Jammu & Kashmir. The document also notes that the state government owns half of the bank's capital and appointed it as the banker for state government business.
This document is a project report on the service quality of HDFC Bank. It includes an introduction, company profile of HDFC Bank, discussion of service quality in banks, research objectives, methodology, data analysis, findings, conclusion and recommendations. It also includes various appendices related to the project such as a questionnaire. The overall aim of the report is to evaluate the service quality provided by HDFC Bank to its customers.
SUMMER PROJECT ON CUSTOMER SATISFACTION AND PERFORMANCE OF JAMMU AND KASHMIR...Aamir Qureshi
The document is a summer project report submitted by Amir Bashir Qureshi to Lloyd Institute of Management and Technology in partial fulfillment of an MBA degree. The project examines customer satisfaction and performance of J&K Bank Ltd. in Uri, Baramulla, India through surveys of customers. It acknowledges assistance from various parties and declares the work as the student's original work. It includes objectives of the study, an executive summary, and outlines various sections of the report such as the introduction, literature review, research methodology, data analysis, findings, and recommendations.
CUSTOMER Satisfaction ICICI Bank Project BY VasudevVasudev Avhad
The document provides information about ICICI Bank, including its history, board of directors, group companies, and board committees. ICICI Bank is India's largest private sector bank that was originally promoted in 1994 and has transformed over the years through mergers and acquisitions. It offers a wide range of banking products and services through various subsidiaries and delivery channels to corporate and retail customers.
Bank of Baroda- Summer Internship ReportAnkit Kumar
This document is a summer internship report submitted by Ankit Kumar to Bank of Baroda. The internship focused on enhancing the user interface and experience of the Bank's website. Ankit conducted research through surveys and analysis of industry best practices. Key findings indicated customers liked the website design but had concerns about colors, navigation, and outdated content. Recommendations included using predictive suggestions to engage customers, improving design elements, and incorporating new technologies like AI assistants. The report provides an overview of the Bank, its products and performance, and outlines Ankit's research methodology and findings to enhance the website.
Axis Bank was established in 1994 as one of the first new generation private sector banks in India after the government allowed entry of new private banks. It has grown to become one of the largest private sector banks in India with over 1,200 branches and 6,000 ATMs across the country. The bank was formerly known as UTI Bank but changed its name to Axis Bank in 2007.
The document is a project report submitted by Rajesh Kumar to the National Institute of Technology on retail banking with reference to Allahabad Bank. It includes an executive summary, introduction, company and industry profiles, data collection methodology, findings, suggestions and conclusions. The report analyzes various aspects of Allahabad Bank's retail banking operations including its products and services, workflow, McKinsey's 7S framework, research methodology and customer feedback.
Bank of India - Project Survey Report.pdfManav Saxena
The study was undertaken to know the preference of the customers. To determine the main factors influencing the level of customer satisfaction in Bank of India. To assess the level of customer satisfaction with the quality of service of Bank of India. The project is an attempt to find out the ways of customer satisfaction adopted by the Bank of India in the real world. So that it would be useful for a manager and staff in the real business when he will have the responsibility to do the same.
HDFC Bank began operations in 1995 with a mission to be a world-class Indian bank. It has since grown to have over 761 branches across 327 cities in India as of March 2008. The bank focuses on using the latest technology like centralized processing units, electronic straight-through processing, data warehousing, and CRM to improve efficiency and provide innovative products. Some key strategies that have contributed to its success include developing a strong national network, focusing on retail and transaction banking, and maintaining high asset quality.
Effectiveness of training @ canara bank project reportBabasab Patil
The document provides an overview of Canara Bank, a leading public sector bank in India established in 1906. It discusses the bank's financial performance over the last two years, achieving the highest net profit among nationalized banks in 2004 and 2005. The report also describes a study conducted on the bank's training programs, finding that the programs were successful and met respondents' needs and expectations. It provides suggestions such as introducing more marketing and product awareness programs.
Axis Bank is the third largest private sector bank in India. It was founded in 1993 as UTI Bank and later renamed Axis Bank. The document provides an overview of Axis Bank's vision, services, financial performance, technology products, subsidiaries, and CSR initiatives. It details the bank's focus on innovation through its Thought Factory and expanding services through new technologies like mobile banking, UPI, and digital wallets.
Survey questionnaire regarding usage and benefits of ePankaj Verma
This survey questionnaire asks respondents about their usage of e-banking services, how often they use them, whether their bank provides proper security, which services they prefer, how convenient they find e-banking, whether they think e-banking is secure, their preferred verification and authentication methods, whether they would suggest e-banking to others, and whether rural people enjoy e-banking. It contains 10 multiple choice questions about e-banking usage, security, preferences, and recommendations.
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.
Customer perception towards banking servicesPriyank Thada
This document provides an overview of a dissertation project submitted by Priyank Thada for partial fulfillment of a BBA degree. It includes a certificate from the faculty guide, Dr. Nilesh Pandya, acknowledging supervision of the project titled "CUSTOMER PERCEPTION TOWARDS BANKING SERVICES". The document also includes a declaration by Priyank Thada and acknowledgments. It then provides an executive summary of the dissertation and a table of contents outlining the various sections of the project.
HDFC Bank uses CRM to achieve its goal of strengthening customer relationships and increasing profitability. CRM helps HDFC Bank consolidate customer information, provide personalized services, improve productivity and remove operational inefficiencies. HDFC Bank implemented a CRM system to integrate data, enable cross-selling, customize offerings and address competition. The CRM system has helped HDFC Bank increase its customer base significantly and generate hundreds of thousands of personalized offers and leads per month. Customer feedback is valuable for analyzing trends and developing business strategies.
Project on retail banking with reference to syndicate bank.Mayanksng07
This document provides an overview of retail banking in India. It discusses the growth of retail lending in India since liberalization in 1991. Retail lending has grown significantly over the past decade due to increasing disposable income, a growing middle class, and changing attitudes towards loans. However, retail loan growth has not been uniform and banks need appropriate strategies like inclusive and responsible banking to ensure sustainable growth. The document also discusses major players in retail banking in India like SBI and HDFC Bank and examines challenges for foreign banks in expanding retail operations in India like regulatory restrictions and lack of strong credit information infrastructure. It analyzes strategies for banks like focusing on customer service, risk management, and fee-based income from third party products.
The document is Yogesh Rathod's SIP project report submitted to K. S. School of Business Management in partial fulfillment of an MBA degree. The report examines home loans and builders tie-ups for State Bank of India. It includes an introduction to SBI and the student, analysis of the banking and real estate industries, methodology used in primary research with builders, findings on builders' perceptions and satisfaction with SBI services, and recommendations.
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.
Various aspects of service marketing in different service sector is focused in the slide. I have tried to inculcate features to help educators and students to understand the various aspects of service marketing.
PowerPoint Slide for Customer satisfaction on public and private banksPujan Kumar Saha
The document analyzes customer satisfaction levels between public and private banks in India. A survey of 200 customers found that private banks provided better customer service and facilities. Customers were more satisfied with the behavior of employees, transaction systems, availability of ATMs, interest rates and loans at private banks compared to public banks. However, customers trusted the public banking system more. The document recommends that public banks improve infrastructure, employee training, and customer services like ATMs to increase satisfaction levels.
This document provides an overview of the Jammu & Kashmir Bank in 3 paragraphs. It discusses how the bank was established in 1938 to address a lack of banking in the state of Jammu & Kashmir. The bank aimed to help people in the state overcome economic backwardness by providing banking services. It opened its first branches in Srinagar and Jammu. Over time, the bank grew its operations both within and outside of Jammu & Kashmir. The document also notes that the state government owns half of the bank's capital and appointed it as the banker for state government business.
This document is a project report on the service quality of HDFC Bank. It includes an introduction, company profile of HDFC Bank, discussion of service quality in banks, research objectives, methodology, data analysis, findings, conclusion and recommendations. It also includes various appendices related to the project such as a questionnaire. The overall aim of the report is to evaluate the service quality provided by HDFC Bank to its customers.
SUMMER PROJECT ON CUSTOMER SATISFACTION AND PERFORMANCE OF JAMMU AND KASHMIR...Aamir Qureshi
The document is a summer project report submitted by Amir Bashir Qureshi to Lloyd Institute of Management and Technology in partial fulfillment of an MBA degree. The project examines customer satisfaction and performance of J&K Bank Ltd. in Uri, Baramulla, India through surveys of customers. It acknowledges assistance from various parties and declares the work as the student's original work. It includes objectives of the study, an executive summary, and outlines various sections of the report such as the introduction, literature review, research methodology, data analysis, findings, and recommendations.
CUSTOMER Satisfaction ICICI Bank Project BY VasudevVasudev Avhad
The document provides information about ICICI Bank, including its history, board of directors, group companies, and board committees. ICICI Bank is India's largest private sector bank that was originally promoted in 1994 and has transformed over the years through mergers and acquisitions. It offers a wide range of banking products and services through various subsidiaries and delivery channels to corporate and retail customers.
Bank of Baroda- Summer Internship ReportAnkit Kumar
This document is a summer internship report submitted by Ankit Kumar to Bank of Baroda. The internship focused on enhancing the user interface and experience of the Bank's website. Ankit conducted research through surveys and analysis of industry best practices. Key findings indicated customers liked the website design but had concerns about colors, navigation, and outdated content. Recommendations included using predictive suggestions to engage customers, improving design elements, and incorporating new technologies like AI assistants. The report provides an overview of the Bank, its products and performance, and outlines Ankit's research methodology and findings to enhance the website.
Axis Bank was established in 1994 as one of the first new generation private sector banks in India after the government allowed entry of new private banks. It has grown to become one of the largest private sector banks in India with over 1,200 branches and 6,000 ATMs across the country. The bank was formerly known as UTI Bank but changed its name to Axis Bank in 2007.
The document is a project report submitted by Rajesh Kumar to the National Institute of Technology on retail banking with reference to Allahabad Bank. It includes an executive summary, introduction, company and industry profiles, data collection methodology, findings, suggestions and conclusions. The report analyzes various aspects of Allahabad Bank's retail banking operations including its products and services, workflow, McKinsey's 7S framework, research methodology and customer feedback.
Bank of India - Project Survey Report.pdfManav Saxena
The study was undertaken to know the preference of the customers. To determine the main factors influencing the level of customer satisfaction in Bank of India. To assess the level of customer satisfaction with the quality of service of Bank of India. The project is an attempt to find out the ways of customer satisfaction adopted by the Bank of India in the real world. So that it would be useful for a manager and staff in the real business when he will have the responsibility to do the same.
HDFC Bank began operations in 1995 with a mission to be a world-class Indian bank. It has since grown to have over 761 branches across 327 cities in India as of March 2008. The bank focuses on using the latest technology like centralized processing units, electronic straight-through processing, data warehousing, and CRM to improve efficiency and provide innovative products. Some key strategies that have contributed to its success include developing a strong national network, focusing on retail and transaction banking, and maintaining high asset quality.
Effectiveness of training @ canara bank project reportBabasab Patil
The document provides an overview of Canara Bank, a leading public sector bank in India established in 1906. It discusses the bank's financial performance over the last two years, achieving the highest net profit among nationalized banks in 2004 and 2005. The report also describes a study conducted on the bank's training programs, finding that the programs were successful and met respondents' needs and expectations. It provides suggestions such as introducing more marketing and product awareness programs.
Axis Bank is the third largest private sector bank in India. It was founded in 1993 as UTI Bank and later renamed Axis Bank. The document provides an overview of Axis Bank's vision, services, financial performance, technology products, subsidiaries, and CSR initiatives. It details the bank's focus on innovation through its Thought Factory and expanding services through new technologies like mobile banking, UPI, and digital wallets.
Survey questionnaire regarding usage and benefits of ePankaj Verma
This survey questionnaire asks respondents about their usage of e-banking services, how often they use them, whether their bank provides proper security, which services they prefer, how convenient they find e-banking, whether they think e-banking is secure, their preferred verification and authentication methods, whether they would suggest e-banking to others, and whether rural people enjoy e-banking. It contains 10 multiple choice questions about e-banking usage, security, preferences, and recommendations.
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.
The document discusses the benefits of exercise for both physical and mental health. It notes that regular exercise can reduce the risk of diseases like heart disease and diabetes, improve mood, and reduce feelings of stress and anxiety. The document recommends that adults get at least 150 minutes of moderate exercise or 75 minutes of vigorous exercise per week to gain these benefits.
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.
The document is a project report on the financial analysis of ICICI Bank submitted by Gaurav Narang to HP University, Shimla in partial fulfillment of a Bachelor of Business Administration degree. It includes a certification letter signed by the project guide, Mr. Ankur Mahajan, acknowledging Gaurav Narang's work. There is also an acknowledgement section thanking various people for their assistance and support. The table of contents outlines the various chapters to be included in the analysis of ICICI Bank's financial performance.
This document provides a project report on a training undertaken at Axis Bank. It includes an introduction to the banking industry and Axis Bank in India. The report outlines the research methodology for a comparative analysis of products and services of Axis Bank versus its competitors. It acknowledges those who supported the project and training. The table of contents provides an overview of the report sections which will cover the banking industry, Axis Bank organization, research methodology, findings, SWOT analysis, conclusions and recommendations.
Online Retail Bank aims to be the one-stop shop for as various financial services as possible on behalf of retail customers. Online Retail Bank has extended a criteria-based marker system which is simple and effective in estimating a wide range of diverse financial industries on their financial impact. Only financially sensible/performing financial industries are evaluated, guarantee that its recommendations make both financial and retail sense.
The document provides an overview of banking services in India. It discusses the history of banking in India from 1786 to the present in three phases. It defines banking as accepting deposits from the public that are repayable on demand. The banking sector contributes significantly to India's GDP and economy. Major players discussed are State Bank of India and ICICI Bank. SBI was established in 1806 and was nationalized in 1955. ICICI Bank was established in 1994 as a subsidiary of ICICI and transformed to a diversified financial institution.
Impact of Customer Relationship Management on Customers loyalty . Falana Temitope
A survey research on the impact of Customer Attraction , Customer retention, Customer satisfaction programs on Customers loyalty. In Asaba, Delta State, NIgeria .
This document contains a list of 133 potential MBA project topics. The topics cover a wide range of business subjects including marketing, finance, human resources, operations management, and more. Some of the topics listed include customer satisfaction studies, investment pattern analyses, brand analyses, capital structure analyses, and export/import procedures. The list provides students with many options for choosing an MBA project on an area of business that interests them.
The document provides an overview of banking and finance in India. It discusses the origin of the word "bank" and defines what a bank is. It also covers the evolution of marketing concepts and their application to banking. Marketing and competition in the banking industry are increasing in importance as banks look to segment markets and develop effective marketing strategies to attract customers and remain profitable. New technologies are also transforming how banks provide services to customers.
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.
This document summarizes an internship report submitted to Axis Bank. It provides background on Axis Bank, including its vision, capital structure, business segments, and SWOT analysis. The internship project involved a comparative analysis of Axis Bank's products and services against its competitors. A survey was conducted with 100 Axis Bank customers. Findings showed customers were generally satisfied but Axis could improve areas like technology updates and number of ATMs. Recommendations included promoting internet banking more, increasing ATM network flexibility, and targeting more customer groups. The conclusion was that Axis has a good customer relationship but needs to improve services and adoption of technology versus competitors.
This document discusses the 7 P's of marketing for State Bank of India. It covers the topics of product, price, process, place, promotion, physical evidence, and people. For each P, it provides details on SBI's approach. For example, for product it highlights loans like SBI Max Gain. For price it discusses interest rates for home loans. For process it outlines the steps for opening an account both physically and online. It also describes SBI's wide network of branches and ATMs across India and abroad.
A project report on study of banking products and investment behavior of cons...Projects Kart
This document provides a summary of a report on a study of banking products and investment behavior of consumers. It begins with an introduction to the Indian banking system, including new business opportunities in India and major foreign banks operating in the country. It describes investment strategies in India and provides an overview of Standard Chartered Bank, the products it offers including savings accounts, ULIPs, and mutual funds. The report methodology and findings from analyzing consumer investment patterns are presented across several chapters. Key areas of analysis include identifying potential customers, influential factors in investment decisions, and strategies to better tap the market.
This document lists over 50 potential marketing project topics across various industries including luxury brands, retail, FMCG, financial services, consumer electronics, apparel, real estate, logistics, health and wellness, and agriculture. The topics focus on areas like branding, consumer behavior, distribution networks, promotional strategies, customer relationship management, and more. They provide opportunities to study marketing approaches, evaluate effectiveness, and analyze trends in different sectors.
This document discusses the negative impacts of increasing technology usage and dependence, including social isolation, lack of in-person interaction, cyberbullying, and computer vision syndrome. It notes that while technology allows constant communication, face-to-face interactions are important for building meaningful relationships. Excessive technology usage also makes people reliant on machines and vulnerable when technology fails. Images showing crowds at St. Peter's Square in 2005 and 2013 demonstrate how engaged people are with their devices now compared to the past.
There has been tremendous growth in mobile banking penetration in many countries in the developed and
developing economies and most interestingly in a number of developing countries such as Nigeria. Yet there are numbers of opportunities and threats in the mobile banking systems. However the major threat of mobile banking is its non-adoption by the banking customers. This research focuses on the perceived barriers to mobile banking adoption in Nigeria as a developing economy. The study adopted an exploratory qualitative method and this was conducted among banking customers spread across three regions of North, West and East of Nigeria. The basis of participants’ selection was being active customers of the Nigerian banks. Findings indicate that there is intention to adopt the mobile banking services; unfortunately, the
intentions cannot be translated into action due mainly to lack of trust on issues such as the delivery
channels/technology, communication infrastructures, government policies, etc. Findings further revealed
that majority of respondents do not use internet and mobile banking services, due to several identified
barriers. There is however a preference for the traditional banking approaches as opposed to the mobile
banking services. The study recommends that banks and other financial institutions embark on massive
awareness campaign.
Syndicate Bank was established in 1925 in Udupi, Karnataka by three visionaries with a capital of Rs.8000 to provide financial assistance to local weavers. It has grown to over 2900 branches across India and internationally. The bank offers various deposit accounts, loan products, and other services. It had over 25,000 employees as of 2013 and continues developing new products to better serve customers while receiving various awards for its initiatives and performance.
Data Mining Technique Clustering on Bank Data Set Punit Kishore
This document discusses how clustering can be used to analyze a portfolio of 1092 commercial vehicle customers of an NBFC. The customers were clustered into 4 groups based on attributes like loan amount, collections, arrears, etc. Cluster 1, containing 499 customers with average loans of Rs. 1.5 lakhs and high collection rates, should be targeted for promotional offers. Cluster 2, with average arrears of 45 months, should be prioritized for collection and legal actions. Successfully executing this cluster-based approach could allow for targeting specific customer groups across India to improve NPA ratios and business growth.
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.
Bankmarketingproject 120111024752-phpapp01Kamran Aziz
This document provides an overview of bank marketing in India. It discusses the origins and definitions of banking and the financial system. It also covers the evolution of the marketing concept in banking and its key elements, including customer orientation. The document then discusses various marketing concepts and their application to banking, including market research, segmentation, and the marketing mix. It provides examples of market research studies conducted by various Indian banks on topics like customer services, deposits, and branch image. Overall, the document outlines the importance of marketing for banks in India and some of the common approaches and areas of focus for bank marketing.
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.
This document provides information about a project report on bank marketing submitted by a student named Jayesh Gaonkar. The report includes a declaration by the student, an acknowledgement of those who helped with the project, an executive summary that outlines the objectives and scope of the report, and an index of topics to be covered such as the meaning of marketing and bank marketing, market research in Indian banks, increasing importance of marketing in the banking industry, and strategies for effective bank marketing in India. The report appears to provide an overview of the concept of bank marketing and its role and functions within the Indian banking system.
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.
The document provides an overview of banking in India. It discusses the history and evolution of banking in India from the 19th century colonial era to modern times. It describes the key functions of banks as accepting deposits, granting loans, and performing other financial services. It also outlines various banking products and services that have emerged over time, from traditional savings and loans to newer investment products. Finally, it discusses the different channels through which banks offer their services, including branches, internet banking, mobile banking, ATMs, and telephone banking.
This document provides an overview of banks and banking in India. It discusses how banks play an important role in economic development by facilitating commercial and industrial activities. It also describes the evolution of banking in India from the early days of basic deposit and lending services, to modern banks that offer a wide variety of functions. The nationalization of banks in 1969 and 1980 helped channel financial resources towards uplifting weaker sections of society and aiding development projects. Marketing of banking services involves decisions around products, distribution, pricing, and promotion tailored to meet customer needs in the changing business environment. The Reserve Bank of India regulates all banking activities and different types of banks that make up the banking structure in India, including public sector banks and new guidelines for private banks
The bank has introduced a new customer-centric business model and undertaken amendment on its organizational structure in order to provide effective service based on customer segment and demand. Its vision is amended as ‘’to become a world-class commercial bank financially driving Ethiopia’s future’’ and it is working to provide banking services tailored to the needs of its esteemed customers. The wholesale banking division, as one of the customers facing unit, is established to address banking needs of all individual and non-individual businesses, public and institutional customers. The new business model creates an opportunity to offer enhanced customer value proposition based on customer segmentation which in turn requires customized and differentiated product and services.
Thus, the bank has designed micro business saving and credit products will be availed through the bank’s credit operation process and mobile banking/Mobile Money solutions to deliver customer tailored products and services for underserved and un-served segment of the society. These segments of the society can create/provide multiple opportunities of the bank like improve customer base and wallet share of the bank, enhance financial inclusion and avail equal financial service for the society which ultimately build intact reputation in the heart of the societies, contribute the development of the country at large and enable to create a competitive advantage on MSL and digital financial technology area.
As therefore, the bank has designed appropriate micro business segment with proper CVP that can increase customer experience through provision of alternative products and customized pricing. Digital platform, mobile banking/money, will be the outreach channel to sell micro saving and credit products. On top of that, appropriate outreach strategies will be in placed to serve the disadvantaged units of the micro business segment.
Setting a planned customer acquisition strategy and manipulating a structured capacity building program for the target customers would be essential to identify challenges, gaps, and opportunities for financial inclusion and cooperation. Investing in a customer acquisition strategy is critical for a business to attract the right leads to our bank and increase chances of retaining them for the long term.
One of the strategic approach to promote our products and service is delivering capacity building and creating awareness for target group of the segment. This approach is expected and believed to recruit potential customer with effective and efficient way which result in expand customer base and generate resource from untapped niche market. Thus, it imperative to prepare capacity building and customer acquisition proposal to show the way how the bank will manage and handle the capacity building training, to plan the appropriate time and required resources to provide the training, to show concrete evidence and fact on the area of micro business for concer
Mahindra & Mahindra Financial Services Ltd (MMFSL) is one of India's leading non-banking finance companies that provides financing for vehicles and other assets, especially in rural and semi-urban areas. It has over 436 branches across India and has disbursed over Rs. 21,000 crore in loans since inception. MMFSL is part of the Mahindra Group, a large Indian conglomerate with over $7 billion in revenue. The document provides an overview of MMFSL's history and operations, the banking and NBFC industry in India, and differences between banks and non-bank financial institutions.
The Basel Committee on Banking Supervision introduced stricter Basel III regulations after the 2008 financial crisis to strengthen banks' capital requirements and promote a more resilient banking sector. The key changes included higher minimum capital requirements, a capital conservation buffer, a countercyclical capital buffer, strengthened capital treatment for trading book exposures and securitizations, more stringent counterparty credit risk rules, and the introduction of a non-risk-based leverage ratio. The regulations aimed to reduce systemic risk, improve risk management practices, and promote a safer banking system overall.
The document provides information about banking and its key aspects:
- It defines banking as a system that provides safe deposits and supplies liquidity through loans.
- It lists the different types of banks in India including public sector, private sector, cooperative sector and development banks.
- It describes some core banking functions like issuing banknotes, processing payments, lending money.
- It discusses bank marketing and the importance of understanding customer needs and retaining customers.
- It outlines different market segments that banks can target like agricultural, industrial, services and household sectors."
IFCI provides corporate advisory services to both public and private sector clients. [1] As a corporate advisor, IFCI assists clients with project structuring, financial modeling, transaction execution, and other advisory needs. [2] IFCI leverages its expertise in project finance, capital markets, and infrastructure to advise on transactions across various sectors. [3] Its advisory services help clients raise capital and implement projects successfully.
This document is a project report submitted by Nanak Singh to Dr. Poonamjot Kaur for a Master's degree. The report studies the different loans provided by SBI Bank. It includes an introduction to the topic, a literature review, objectives of the study, research methodology, data analysis, findings and recommendations. The report aims to provide practical knowledge about the various loans offered by SBI Bank through this research project.
The document provides an overview of the banking industry and financial services in India. It discusses the history and evolution of banking in India from the 19th century to present day. It also outlines the key functions of banks, products offered by banks, sources of revenue, and various channels through which financial services and products are offered including branches, internet banking, mobile banking, telephone banking, and ATMs.
The document provides an overview of the banking sector in India. It discusses the evolution of banking from ancient times to modern banking in England in the 17th-18th centuries. It then covers the evolution and structure of banking in India, including the major players. The document also discusses Yes Bank specifically, providing details on its management, products/services, financials, clients, competitors and future plans. It concludes with an example job profile for an Associate/Manager in Corporate Banking at Yes Bank, outlining the key responsibilities, skills, challenges and career growth opportunities.
The document provides an overview of the banking sector in India, including:
1) It discusses the evolution and structure of banking in India, from ancient times to modern banking beginning in the 17th-18th centuries in England.
2) It outlines the major players and structure of India's current banking sector, which includes public and private sector banks, as well as non-banking financial institutions.
3) It analyzes the SWOT of India's banking sector and discusses opportunities and threats from factors like government policies, technological changes, and globalization.
Retail banking refers to banking services provided to individual customers rather than businesses. It focuses on mass-producing banking products and services to cater to large numbers of customers. Retail banking offers products like savings and checking accounts, mortgages, personal loans, credit cards, and more. It provides diversification for banks' asset portfolios and opportunities for economic and lifestyle growth through affordable credit. The growth of India's middle class and rising incomes are driving increased opportunities in retail banking.
Banks play a key role in the Indian financial market as the largest providers of credit and attractors of savings. They have supported the growth and development of India. The Reserve Bank of India centrally monitors the banking system. Banks provide various financial services including taking deposits, lending loans, issuing credit/debit cards, fund transfers, and more. Private banks also offer services for high net worth individuals like tax planning and estate planning. A developed financial system is crucial for a country's economic growth.
Comparative analysis of products & services of Axis Bank with its competitors Supriya Mondal
This document provides a summer internship project report submitted by Supriya Mondal to Ramaiah Institute of Management in partial fulfillment of the requirements for a Post Graduate Diploma in Management. The report details Supriya's internship project at Axis Bank Ltd, including an industry analysis of the banking sector in India, an analysis of Axis Bank, and a description of Supriya's roles and responsibilities during the internship. Key points covered include the history and growth of banking in India, the structure of the Indian banking system, major players in the sector, and products and services offered by Axis Bank.
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
When we think about refreshment, the first thing that comes to our mind is coffee or tea. Most people prefer coffee and most prefer tea and these two drinks have become a part of a human being’s life.
Here we (I) have concentrated on coffee which is considered as a traditional drinks especially in south India. People here start their everyday life with a cup of coffee. Not only in south India but in all parts of the world people are so dependent and addicted to coffee that it acts as a daily schedule to every body every where. But this coffee is not grown in all parts of the world but is grown in very few places with right kind or weather, atmosphere and most important of all, the soil of that region.
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The document provides information about Nirani Sugars Limited, an Indian sugar company. It discusses [1] the history and background of the company, including its establishment in 1997 and expansion plans; [2] the key promoters and board of directors; and [3] the various departments within the organization. The company aims to efficiently utilize local resources to produce sugar and by-products, support farmers, and develop the local community.
The sugar industry is one of the important Ago-based industry of the country India is the fourth major sugar production in the world. The first three is Russia, Brazil and Cuba. Sugar industry provides direct employment to nearly 3lakh persons this industry supports about 25 million agriculturists. It pay’s both to the central government and the state government about Rs.350 crores by way of different taxes. The capital employed in the industry is of the order of Rs.780 crores. There are about 414 mills producing sugar, which are spread all over the country.
When we think about refreshment, the first thing that comes to our mind is coffee or tea. Most people prefer coffee and most prefer tea and these two drinks have become a part of a human being’s life.
Here we (I) have concentrated on coffee which is considered as a traditional drinks especially in south India. People here start their everyday life with a cup of coffee. Not only in south India but in all parts of the world people are so dependent and addicted to coffee that it acts as a daily schedule to every body every where. But this coffee is not grown in all parts of the world but is grown in very few places with right kind or weather, atmosphere and most important of all, the soil of that region. It is usually grown in hill stations with adequate amount of rainfall and such places which are high above sea level. Therefore in India, Karnataka is such a place, especially South Karnataka which produces the highest amount of coffee in whole India. Most parts of Karnataka such as Chikmagalur district and many parts in Hassan District, and also Coorg.
A Study on Sugar Industry at Chamundeshwari SugarProjects Kart
The document provides information about sugar production in India. It discusses the history of sugar cultivation in India and how it was introduced from other parts of the world. It then describes the sugar production process, from sugarcane cultivation and transportation to factories for processing. It also discusses the sugar industry in India, including key statistics on production levels, number of factories, role in the rural economy, and government policies regulating the industry.
Study on Inventory Management at Reid & Taylor (India) LtdProjects Kart
Inventory is a list of goods and materials, or those goods and materials themselves, held available in stock by a business. Inventory management is primarily about specifying the size and placement of stocked goods. Inventory management is required at different locations within a facility or within multiple locations of a supply network to protect the regular and planned course of production against the random disturbance of running out of materials or goods. The scope of inventory management also concerns the fine lines between replenishment lead time, carrying costs of inventory, asset management, inventory forecasting, inventory valuation, inventory visibility, future inventory price forecasting, physical inventory, available physical space for inventory, quality management, replenishment, returns and defective goods and demand forecasting.
Study on Working Capital Management at PNBProjects Kart
The prime objective of any business is to maximize the value of the company and to maximize the wealth of its shareholders. Working capital management has its own role to play in attaining this goal. Working capital is the funds required for day to day working in a business concern. The working capital management involves deciding upon the amount and composition of current assets and how to finance those assets. There should be a proper trade off between risk and profitability in each decision relating to it. This project work has been undertaken to know the procedures involved in the working capital management in PUNJAB NATIONAL BANK. An attempt is made to study the factors contributing towards working capital and the sources on which the company is depending for funds. The research study was also conducted to derive working capital ratios, to know the performance and efficiency of working capital management and to know the kind of policy adopted in this part of the management. For analyzing the factors and conditions influencing working capital tables and graphs were drawn based on the study. pubjab national bank mba project, summer internship 2017, project reprot, punjab national bank pdf, risk, project report pdf, project report, customer satisfaction in punjab national bank
Study on Mutual Fund is the Better Investment PlanProjects Kart
Mutual funds have become a hot favorite of millions of people all over the world. The driving force of mutual fund is the ‘safety of the principal’ guaranteed, plus the added advantage of capital appreciation together with the income earned in the form of interest or dividend. People prefer Mutual Funds to bank deposits, life insurance and even bond because with a little money, they can get into the investment game. One can own string blue chips like ITC, TISCO, Reliance etc., through mutual funds. Thus, mutual funds act as a gateway to enter into big companies hitherto inaccessible to an ordinary investor with his small investment.
Study on Store Environment and Merchandising Mix at Big BazaarProjects Kart
Retailing consists of those business activities involved in the sale of goods and services to consumers for their personal, family, or household use. Retailing comprises of four elements customer orientation, coordinated effort, value-driven, and goal orientation. The word "Retail" originates from a French-Italian word. Retailer-someone who cuts off or sheds a small piece from something. Retailing is the set of activities that markets products or services to final consumers for their own personal or household use. It does this by organizing their availability on a relatively large scale and supplying them to customers on a relatively small scale. Retailer is a Person or Agent or Agency or Company or Organization who is instrumental in reaching the Goods or Merchandise or Services to the End User or Ultimate Consumer.
Initial Public Offers and Due DiligenceProjects Kart
This document is a project report submitted to the University of Mysore in partial fulfillment of an MBA degree. It discusses initial public offers (IPOs) and the role of investment bankers. The report was conducted as a case study at Hassan Kotak Securities Ltd and guided by Harish Kumar. It includes an introduction, industry and company profiles, literature review on topics like IPOs and due diligence, data collection and findings. The investment banker plays an important fiduciary role in coordinating the IPO process between the company, regulators, and investors.
Influence of ADR on Underlying Stock PricesProjects Kart
Globalization has opened the door for the investors to avail various investment avenues across the globe. American Depository Receipt (ADR) is one such opportunity to the investing community. The ADR is a proxy for the Indian shares to enable them to be traded in the American stock exchanges. Various studies conducted on Depository Receipts (DRs) have shown that the trading on the DR sin the foreign market has its influence in the home country’s stock in terms of price, volatility and volume. This interested me and this project is concerned about studying “Whether the price fluctuations of ADR affect the corresponding Indian share prices?”
After the liberalization of the economy in 1991, the corporatist started sourcing their capital from both domestic and foreign markets. The Indian shares cannot be directly listed in the American stock exchanges. ADRs have been very helpful in this purpose. So a custodian bank receives the shares as deposit and issues receipt to the market. These receipts are issued in appropriate ratio to the shares deposited with the depository. The market players in the stock exchanges trade these receipts.
Impact of ERP on Organizational Functions in Retail SectorProjects Kart
The business environment has changed more in the last five years than it did in the previous five decades. Winning in today’s business climate requires more than just providing high-quality, low-cost products to customers, when and how the customers want them. The ability to respond to new customer needs and seize market opportunities as they arise, without compromising on the profitability of the firm is critical for the success of any organization. Competitive pressures frequently force manufacturers to decrease prices in spite of the fact that their internal costs continue to rise. Enterprises are continuously striving to improve themselves in the areas of quality, time to market, customer satisfaction, performance and profitability. Making informed business decisions in this manner would enable organizations to accomplish their business growth and at the same time enable them to utilize the information to competitive advantage. To make it possible for the companies to execute this vision, there is a need for an infrastructure that will provide information across all functions and locations within the organization and this is the Enterprise Resource Planning (ERP) solution available in the market today.
The Impact of Creativity and Wow Factor in AdvertisingProjects Kart
The approach used in this report is a case study approach. It essentially deals with two aspects; creativity and WOW factor. These two terms have been defined and the impact they have in advertising has been studied. The objectives of doing such a study were to understand creativity, to define it and to find factors that elicit a WOW response from viewers.
Impact of Advertisements on Investors at HDFC Standard Life InsuranceProjects Kart
This project is managing study on “Impact of advertisement on Investors – A case study in HDFC Standard Life Insurance” The scope of study is regarding the advertisements and therefore the presence of HDFC SLIC with relation to in door advertisements and their advertisements & their effectiveness & out door advertisements, however the folks wish to watch them. to understand the notice within the public like better to watch the ads and medium.
Impact of Advertising on Customers in Tata MotorsProjects Kart
The consumer durable market in India has been very competitive in the recent years, with opening up of market for international players due to liberalization; the domestic players are facing a tough competition. So it‟s time for domestic companies to frame new strategies for their production and marketing activities. An evaluation of the effectiveness of the past activities of a company will enable the company in framing these new strategies. Such an effort has been made through this market research to know the http://www.projectskart.com/ on Customers in TATA MOTORS (A case study in AUTO MATRIX, HASSAN).
Recruitment and Selection at Aviva Life InsuranceProjects Kart
The MBA project titled “RECRUITMENT AND SELECTION” Undertaken in AVIVA life insurance.
AVIVA is a UK based insurance group. It has a long history dating back to 1834 and has a joint venture with DABUR groups. Aviva holds a 26 per cent stake in the joint venture and the Dabur group holds the balance 74 per cent share.
It is one of the leading providers of life and pensions products to Europe and has substantial businesses elsewhere around the world.
The project report is about recruitment and selection process that‟s an important part of any organization. Which is considered as a necessary asset of a company? In fact, recruitment and selection gives a home ground to the organization acumen that is needed for proper functioning of the organization.
Financial Freedom through Reverse MortgageProjects Kart
The world population structure shows that population worldwide is ageing owing to exaggerated longevity of older folks and small birth rates in developed and most developing countries. Visit www.projectskart.com for more information. In Asian nation alone, statistics show that variety of older as a proportion of population can show a 107% growth, from 113 million in 2016 and 179 million by 2026 severally.
Financial Analysis on Recession Period at M&M TractorsProjects Kart
Financial ANalysis (also stated as financial plan analysis or accounting analysis) refers to an assessment of the viability, stability and profitable of a business, sub-business or project. Visit www.projectskart.com for more information. It is performed by professionals World Health Organization prepare reports exploitation ratios that create use of data taken from monetary statements and different reports. These reports area unit typically given to prime management mutually of their bases in creating business selections.
Effective Supply Chain Management as a Strategic AdvantageProjects Kart
This document provides an overview of supply chain management and the arecanut industry in India. Some key points:
1. It introduces the topic of effective supply chain management as a strategic advantage at TSS (The Totagar‘s Co-operative Sale Society Ltd), located in Sirsi, Karnataka.
2. India accounts for 59% of global arecanut production, with Karnataka producing 46% of India's arecanut. Within Karnataka, Uttara Kannada district accounts for 11% of production.
3. TSS procures arecanut and acts as the main nodal agency. Major Indian markets for arecanut include Mumbai, Ahmadabad, Indore, and
Brand Awareness of Spencer's and Comparative Analysis with Big BazaarProjects Kart
By 2004 the retail industry was growing rapidly in India, and Spencer's Retail decided to pursue an aggressive expansion strategy. The company had the customers, the products, and the employees to make it happen. It just needed an IT infrastructure that could support rapid growth. Visit http://www.projectskart.com/p/contact-us.html for more information. Current servers were at capacity, and the company needed to upgrade before adding new stores. Amit Mukerjee, Group CIO of the RPG Group, describes the challenge as part of the learning curve for retail development in India. ―Retailing is a new business in this country. As the business matures, the process matures, and IT systems must evolve accordingly. The company also needed an enterprise resource planning (ERP) solution to handle critical processes such as supply-chain management. It decided to implement mySAP ERP, now called SAP ERP, and realized the solution needed to run on high-performance servers. Spencer's Retail evaluated several possibilities, including servers from HP, IBM, and Sun Microsystems. It decided to build its IT infrastructure on Sun systems for several reasons. Sun SPARC Enterprise Servers had the performance and scalability needed to sustain its business, and they delivered higher performance at less cost. Sun's knowledge of the retail space in India, as well as its long history with RGP Enterprises, were also deciding factors.
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The report *State of D2C in India: A Logistics Update* talks about the evolving dynamics of the d2C landscape with a particular focus on how brands navigate the complexities of logistics. Third Party Logistics enablers emerge indispensable partners in facilitating the growth journey of D2C brands, offering cost-effective solutions tailored to their specific needs. As D2C brands continue to expand, they encounter heightened operational complexities with logistics standing out as a significant challenge. Logistics not only represents a substantial cost component for the brands but also directly influences the customer experience. Establishing efficient logistics operations while keeping costs low is therefore a crucial objective for brands. The report highlights how 3PLs are meeting the rising demands of D2C brands, supporting their expansion both online and offline, and paving the way for sustainable, scalable growth in this fast-paced market.
During the budget session of 2024-25, the finance minister, Nirmala Sitharaman, introduced the “solar Rooftop scheme,” also known as “PM Surya Ghar Muft Bijli Yojana.” It is a subsidy offered to those who wish to put up solar panels in their homes using domestic power systems. Additionally, adopting photovoltaic technology at home allows you to lower your monthly electricity expenses. Today in this blog we will talk all about what is the PM Surya Ghar Muft Bijli Yojana. How does it work? Who is eligible for this yojana and all the other things related to this scheme?
Unlocking WhatsApp Marketing with HubSpot: Integrating Messaging into Your Ma...Niswey
50 million companies worldwide leverage WhatsApp as a key marketing channel. You may have considered adding it to your marketing mix, or probably already driving impressive conversions with WhatsApp.
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We take a look at everything that you need to know in order to deploy effective WhatsApp marketing strategies, and integrate it with your buyer journey in HubSpot. From technical requirements to innovative campaign strategies, to advanced campaign reporting - we discuss all that and more, to leverage WhatsApp for maximum impact. Check out more details about the event here https://events.hubspot.com/events/details/hubspot-new-delhi-presents-unlocking-whatsapp-marketing-with-hubspot-integrating-messaging-into-your-marketing-strategy/
Unlocking WhatsApp Marketing with HubSpot: Integrating Messaging into Your Ma...
Project report on bank marketing
1. INDEX <br />SR. NO.DESCRIPTION Pg no.Executive summaryThe Financial SystemOrigin of The Word BANKDefinition of Bank and marketing Finance and banking in IndiaUsers of Banking ServicesMeaning of MarketingEvolution of the marketing concept Marketing and Competition Marketing Concepts – Its application to BankingMeaning of Bank MarketingMarket Research in Indian BanksIncreasing Importance of Marketing in Banking Industry Market Segmentation Marketing Mix for Banking ServicesStrategies for Segmentation Marketing Mix for banking services Strategies for effective bank marketing in India Technology in Banking What are customer servicesCase studyBank Marketing in the Indian Perceptive Future of Bank Marketing ConclusionRefrences<br />THE FINANCIAL SYSTEM <br />The financial system consists of variety of institutions, markets and instruments that are related in the manner shown in the below figure, it provides the principal means by which saying are transformed into investment. Given its role in the allocation of resources, the efficient functioning of the financial system is of critical importance to a modern economy. Financial manager negotiate loans from financial institutions, raises resources in financial marked and invests surplus funds in financial market. In very significant way he manages the interface between the form and its financial environment. <br />Financial System placed a very important role in the development of a country. Through Financial System, entire money or money equals are channelized in such a way so that each sector of economy like industry, agriculture and services can be developed rationally. Financial sector development is the locomotive force for economic development of a country. <br />ORIGIN OF THE WORK ‘BANK’<br />According to some economists the word ‘Bank’ has been derived from the German word BANC which means a Joint Stock Firm while others say that it has been derived from the Italian world ‘BANCO’ which means a heap or mound. <br />There is still another group of people who believe that word bank has been derived from the Greek work ‘BANQUE’ which means a bench. In the olden days, Jews entered into money transactions sitting on benches in a marked place. When a banker was not in a position to meat his obligations, the on which he was carrying on the money business was broken into pieces and the was taken as bankrupt. Thus both the words Bank or bankrupt are said to have origin from the word ‘Banque’.<br />DEFINITION OF BANK <br />According to Oxford English Dictionary, Bank is, “An establishment for custody of money received from or on behalf of, its customers. Its essential duty is the payment of the orders given on it by the customers, its profit mainly from the investment of money left unused by them”. <br />Banking Regulation Act, 1949 (Sec. 5(c)), has defined the banking company as, “Banking Company means any company which transacts business of banking in India”. According to Section 5B, “banking means the accepting of deposit of money from the public for the purpose of leading or investment, which are repayable on demand or otherwise and are withdrawable by cheque, draft, order or otherwise.”<br />Different economists, banking professionals and authorities explained their viewpoint regarding bank or commercial bank. It has been rightly said by A.K. Basu that a general definition of a bank or banking is by no means easy, as the concepts of banking differ from age to age, and country to country. <br />FINANCE AND BANKING IN INDIA<br />India is a vast country, Before 1947, undivided India was equal to Europe excluding Russia in its area. It is situated in south of Asia. In spite of a part of Asia, it is separated from it. It is separated by Himalayas in North India. India has vast oceans in South, East and West. Due to its vastness it is also called sub continent. That vast country has given different names in different times. In Vedic period, it was called ‘Arya-V-arat’. In Bir period and ancient period, it as called Bharatvarash’. Perhaps due to fame of king Bharat, it was called ‘Bharatvarsh. Greek called it Indus on the name of river Sindh. Iranians called it Hindu. Chinese travelers called it Tienchu and Yintu. Ipsing called ‘Arya Desh’ and Brahmrashtra. Bible has called it Hoddu. In medieval period, it was called ‘Hindustan’ and Hind. European called it India. After Independence, it is return as Bharat Ganrajya or Indian Republic in Indian Constitution. <br />EVOLUTION OF THE MARKETING CONCEPT <br />The Role of marketing in the banking industry continues to change. For many years the primary focus of bank marketing was public relations. Then the focus shifted to advertising and sales promotion. That was followed by focus on the development of a sales culture. <br />Although all the elements of the marketing concept – customer satisfaction, profit integrated framework, and social responsibility – will remain important, customer satisfaction must receive the greatest emphasis in the years ahead. <br />The chief concerns of most bank executives still focus on legal and regulatory issues, according to most surveys. Community banks are particularly concerned with eliminating barriers that give unfair advantages to financial services competitors, such as credit unions. However, another concern pertains to technology: keeping nonblank competitors out of the payment system. <br />Bankers Identify Near-Team and Long Term Concerns <br />19912015Maintaining profitability Credit Portfolio Management Service Quality Regional Economy Cost Management / Expense reduction Declining Earnings/ more failuresMarket / customer focus Capital adequacy Stock market valueIndustry Overcapacity Service quality Maintaining profitability Market / customer focusOperations/systems/technologyCredit portfolio management Productivity improvement Investment to stay competitive Stock market valueAsset/liability management Electronic Banking <br />When this gateway system was first proposed, access to the Internet was very new and few banks had the resources and knowledge to set up their own direct-access lines for customers. Customers have shown a growing interest in online banking services, and banks have responded by quickly putting in place proprietary sites on the World Wide Web and offering PC banking. <br />Within the next five years, 93 percent of community bank executives surveyed say they plan to offer telephone banking, and 79 percent plan to offer PC banking. <br />When asked which technology holds the most potential for the future, bank executives identified call centers first. As customers continue the transition the transition into a high-tech world in which they want information and answers more quickly and accurately than ever before, call centers offer the ideal bridge. With 24-hour access to either automated information or live operators, customers do everything from check their accounts to apply for a loan. Bank executives also identified PC banking as having the most promise for the future, followed by Interest access and broad function kiosks. <br />MARKETING AND COMPETITION <br />In view of the declining profitability and productivity of the banking sector and extremely low rate of profit percentage, the determination of the financial health of the system requires drastic remedial measures not only to build up investor confidence but also to combat competition from all over. It is time that the pros and cons of the oncoming banking era are properly understood and advantage taken of various opportunities. This will require an efficient marketing approach to bank management in which target markets will be tackled successfully along with effective satisfaction levels and in which the usual basic elements – product, pricing, promotion and distribution will be taken care of in a proper format of an efficiently working marketing organization. <br />The nationalised banks must face competition from private banks, non-banking financial institutions, foreign banks and others. The competition is in the fields of deposits and credits, foreign trade, consumer credit and miscellaneous banking activities. The competition will benefit customers and force the banking system to raise its productivity, minimize expenses, and remain sensitive to evolving issues. Narasimham Committee Reports while recommending internal autonomy long with compliance with prudential norms suggested rule-based credit policies, fiscal balance and a gradual movement towards liberatlisation. <br />To deal with the competition from foreign banks, the Indian banks should go in for diversification and extension of services as well as expansion of products and business. Economic freedom and innovative spirit have contributed greatly to the success of the market-oriented financial sector in the Western countries. Directed credit and investment has done just the opposite. Interventionism is not necessarily bad provided it is associated with a committed leadership. Indian financial sector had for more than four decades, neither full economic freedom nor a well disciplined interventionism so that it cost operational flexibility as well as functional autonomy both of which were concerned with profitability performance and related factors. <br />MARKETING CONCEPTS<br />Its application to Banking, When we apply marketing to the banking industry, the bank marketing strategy can be said to include the following – <br />A very clear definition of target customers. <br />The development of a marketing mix to satisfy customers at a profit for the bank. <br />Planning for each of the ‘source’ markets & each of the ‘use’ markets (A Bank needs to be doubly market – oriented – it has to attract funds as well as were of funds & services. <br />Organisation & Administration.<br />BANK MARKETING <br />We define bank marketing as follows: “Bank marketing is the aggregate of functions, directed at providing services to satisfy customers’ financial (and other related) needs and wants, more effectively and efficiently that the competitors keeping in view the organizational objectives of the bank”. Bank marketing activity. This aggregate of functions is the sum total of all individual activities consisting of an integrated effort to discover, create, arouse and satisfy customer needs. This means, without exception, that each individual working in the bank is a marketing person who contributes to the total satisfaction to customers and the bank should ultimately develop customer orientation among all the personnel of the bank. Different banks offer different benefits by offering various schemes which can take care of the wants of the customers. <br />Marketing helps in achieving the organizational objectives of the bank. Indian banks have duel organizational objective – commercial objective to make profit and social objective which is a developmental role, particularly in the rural area. <br />Marketing concept is essentially about the following few thing which contribute towards banks’ success:<br />The bank cannot exist without the customers. <br />The purpose of the bank is to create, win, and keep a customer. <br />The customer is and should be the central focus of everything the banks does. <br />It is also a way of organizing the bank. The starting point for organizational design should be the customer and the bank should ensure that the services are performed and delivered in the most effective way. Service facilities also should be designed for customers’ convenience. <br />Ultimate aim of a bank is to deliver total satisfaction to the customer. <br />Customer satisfaction is affected by the performance of all the personal of the bank.<br />All the techniques and strategies of marketing are used so that ultimately they induce the people to do business with a particular bank. Marketing is an organizational philosophy. This philosophy demands the satisfaction of customers needs as the pre-requisite for the existence and survival of the bank. The first and most important step in applying the marketing concept is to have a whole hearted commitment to customer orientation by all the employees. Marketing is an attitude of mind. This means that the central focus of all the activities of a bank is customer. Marketing is not a separate function for banks. The marketing function in Indian Bank is required to be integrated with operation. <br />Marketing is much more than just advertising and promotion; it is a basic part of total business operation. What is required for the bank is the market orientation and customer consciousness among all the personal of the bank. For developing marketing philosophy and marketing culture, a bank may require a marketing coordinator or integrator at the head office reporting directly to the Chief Executive for effective coordination of different functions, such as marketed research, training, public relations, advertising, and business development, to ensure customer satisfaction. The Executive Director is the most suitable person to do this coordination work effectively in the Indian public sector banks, though ultimately the Chief Executive is responsible for the total marketing function. Hence, the total marketing function involves the following:<br />Market researchi.e. identification of customer’s financial needs and wants and forecasting and researching future financial market needs and competitors’ activities. <br />Product Developmenti.e. appropriate products to meet consumers’ financial needs. <br />Pricing of the service i.e., promotional activities and distribution system in accordance with the guidelines and rules of the Reserve Bank of India and at the same time looking for opportunities to satisfy the customers better. <br />Developing market i.e., marketing culture – among all the customer-consciousness ‘Personnel’ of the bank through training. <br />Thus, it is important to recognize the fundamentally different functions that bank marketing has to perform. Since the banks have to attract deposits and attract users of funds and other services, marketing problems are more complex in banks than in other commercial concerns. <br />MARKET RESEARCH IN INDIAN BANKS<br />After enquiring with all the public and 14 private sector banks whether they had undertaken any market research studies. The following board areas of market research were considered for the study:<br />New service development,<br />New service product acceptance, <br />Research and development of existing financial service, <br />Bank images study,<br />Measuring bank’s advertising effectiveness, <br />Measurement of market potentials, <br />Market research of competitive service products, <br />Customer’s opinion study,<br />Customer profile study, and <br />Market share analysis. <br />In response to the inquiry information was received from 17 banks. Out of these banks, 14 are public sector banks and 3 are private sector banks. Two nationalized banks and two private sector banks informed that they have not conducted any markets research studies. <br />Information regarding Bankwise Market Research Studies <br />BankTitle of the Market Research StudyRemarksAllahabad Bank Bank of BarodaSurvey on Customer Service Marketing of deposits and allied services to non-residents customers opinion (1958)Not formal report prepared.MP Ranade: BMP Thesis. Canara BankMarketing research study for two new deposit schemes (1989)For internal use onlyCentral Bank of IndiaMarket survey of customer services Marketing deposits (Customers)Conducted by the students of BITS, Pilani. For internal use only service (1986)Indian Overseas BankPotential areas for future business expansion For internal use onlyOriental Bank of CommerceStudy of customer service in OBC with special reference to metropolitan branches (1989)R Upendran MBP ThesisPunjab National BankSample survey on customer’s responses (1987)Sample survey on customer service (1988)Study on deposit linked housing loan scheme (1982)For internal use onlyFor internal use onlyFormal ReportPunjab and Sind BankStudy on customer turnover (mail questionnaire based study of customers who have closed their accounts) (1989)Changing Profile of Punjab and Sind Bank’s Customers and their expectorations, a survey based study (1988)For internal use only J S Kalra:BMP Thesis State Bank of BikanerA survey on customer service, level of customer satisfaction and customer expectations (1998)For internal use onlySyndicate BankEvaluation Study on the quality of customer service (1989)Marketing of bank service with special reference to branches in Bombay city of Syndicate Bank-customer service (1979)For internal use onlyK M Kanath BMP Thesis Union Bank of India Customer responses (Opinion) survey (1988)For internal use onlyUCO BankCustomers’ opinion study (1989)For internal use onlyUnited Bank of IndiaReport of the survey on customer opinion (1987)Improvement of customer service in a metropolitan branch (1979)For internal use onlyK P Ramesh RaoBNP ThesisVijay Bank Report of the customer service survey (1988)Formal ReportKarur Vysya BankStudy on the image of the bank (1989)Undertaken by a Consultant<br />Most of these market research studies were conducted for internal use and no formal reports were prepared. It is important to note the subject or issue researched by the bank. The most important subject for market research in terms of the number of studies conducted, is the customer service / customer’ profile opinion studies. Few banks have conducted even more than one customer service / opinion studies. <br />INCREASING IMPORTANCE OF MARKETING IN BANKING INDUSTRY <br />The various other factors which have led to the increasing importance of marketing in the banking industry are categorized as follows:<br />Government Initiatives<br />The Indian economy embarked on the process of economic reform and various policy measures initiated by the government resulted in the increasing competition in the banking industry, thereby highlighting the importance of effective marketing. The Narasimhan Committee Report evidence of the Government’s desire to ‘re-regulate’ the banking industry so as to encourage efficiency through competition. The Government initiatives include: <br />Deregulation of Interest Rates <br />The bank may reduce their Minimum Lending Rates so as to attract customers (individual and corporate). Such reduction in lending rates reduce the spread between the deposit rates and lending rates, i.e. the banks margins would decline and they would have to increase their volumes or provide attractive services so as to maintain profits. This calls for bank marketing. <br />Increasing Emphasis on Bank Profitability:<br />With the Narasimhan Committee Report, banks have been directed to improve their efficiency, productivity and profitability. Banks are required to be self-sufficient. In fact, the report has adopted the BIS standards of capital adequacy (though in a phased manner).<br />Foreign Banks<br />Foreign banks offer stiff competition to the Indian Banks and with their superior services and technology offer them a competitive advantage. Thus Indian Banks have to effectively apply marketing concepts to attract customers. <br />Entry of New Private Banks<br />In the early ‘90s new competition emerged in the form of new Private Banks, who brought along with them a high technology-based banking matching with International Standards and have made a significant dent in the banking business by capturing substantial share in the profits of the banking industry. <br />Reduction of Statutory Liquidity Ratio:<br />With the Government’s aim of reducing the SLR to 25 percent, the banks will have surplus funds for which they will have to attract users. <br />Social Environment <br />Increasing Urbanization, Education and Awareness: The higher literacy level, migration to urban areas and higher awareness due to the boom in the mass media have important implications for the retail banker. He needs to be conscious of the fact the increasing proportion of people are aware of financial service and are, therefore demanding and expecting higher quality services. <br />Increasing Urbanization, Education and Awareness: The higher literacy level, migration to urban areas and higher awareness due to the boom in the mass media have important implications for the retail banker. He needs to be conscious of the fact the increasing proportion of people are aware of financial service and are, therefore demanding and expecting higher quality services.<br />Decline in Traditional Indian Values (Borrowing as Taboo), Rising Consumerism, Rise in the Percentage of Working Women.<br />Technology Development <br />Modernization of Technology has facilitated the introduction of new banking services as to attract new customers. An example of this is the ‘Automated Teller Machines’ or the facility of ‘Any Time Money’. Also in foreign countries, banks are experimenting with money transmission at Point of sale, e.g., petrol station linked with banking network. <br />Credit is Easier to Obtain <br />Growing Importance of Non-Banking Financial Institutions: Fixed Deposits being offered by the NBFC’s are very attractive for the public, because of the wide gap of interest rates offered by banks on term deposits and that offered by the NBCS’s. further, they offer a variety of specialized services to their customers so as to attract and retain them. <br />Disintermediation: The increasing role of capital markets in mobilizing funds is reducing the importance of banks as intermediaries. Companies are directly approaching the savers through the capital markets. Mutual funds help in attracting the small investors who do not want to take much risk. <br />MARKETING CONCEPTS – ITS APPLICATION TO BANKING <br />When we apply marketing to the banking industry, the bank marketing strategy can be said to include the following:<br />A very clear definition of target customers. <br />The Development of marketing mix to satisfy customers at a profit for the bank. <br />Planning for each of the ‘source’ markets and each of the ‘user’ markets (A bank needs to be doubly market – oriented – its has to attract funds as well as users of funds and services).<br />Organization and Administration.<br />Consumer Behavior and Segmentation<br />Need for segmentation <br />Philip Kotler has described the dilemma of the seller (especially, a seller dealing with masses, e.g. banks) as follows:<br />“How the seller determines which buyer’s characteristics produce the best partitioning of a particular market? The seller does not want to treat all customers alike nor does he want to treat them all differently”.<br />Banks deal with individuals, group of persons and corporates, all of whom have their likes and dislikes. No bank can afford to assess the needs of each and every individual buyer (actual or potential).<br />Segmentation of the market into more or less homogenous groups, in terms of their needs and expectations from the banking industry, provides a solution to this problem. <br />This involves dividing the market into major market segments, targeting one or more of this segments, and developing products and marketing programs tailor-made for these segments. <br />In the first segmentation, the market is divided from a unitary whole, to groups of buyers who might require separate products and marketing mix. The marketer typically tries to identify different segments in the market and develop profiles of resulting market segments. <br />The second step is market targeting in which each segment’s attractiveness is measured and a target segment is chosen based on tits attractiveness. <br />The third step is product positioning which is the act of establishing a viable competitive position of the firm and its offer in the target segment chosen. <br />In the process of segmentation, the market can be divided into major segments which are gross slices of the market, or into smaller specially formed segments, otherwise known as niches. Niche customers have a specific set of needs which the markerter tries to address. While a market segment attracts several competitors, a niche attracts fewer competitors and therefore, a company should clearly define its target segment and devise strategies to target the customer, so that it has a competitive advantage in the segment. <br />These concepts can be applied in personal banking by an Indian Bank. Traditionally, Indian Banks have not had any conscious strategy for selecting customers from the personal banking area, apart from some banks which have a geographic concentration strategy such as concentrating on a particular region or state. These banks will have to segment the market on certain basis, and identify market segments or niches which they want to cater to. For example, a bank like SBI may not be able to cater high income groups (say, managers, professional, NRIs, etc. who earn above Rs. 4,00,000 p.a. and who want a higher quality of products / services and who are willing to pay for them), as the services required by such a profile of customers are entirely different from the kind of products / services SBI can offer. <br />Initiation of Segmentation in India <br />Station Bank of India was the first Indian Bank to adopt the concept of market segmentation. In 1972, it reorganized itself on the basis of major market segments dividing customers on the basis of activity and carved out 4 major market segments, viz. Commercial and Institutional, Small Industries and Small Business Segment, Agriculture, Personal and Services Banking. The objectives of this scheme were:<br />Deeper penetration and coverage of market by looking outwards. <br />Adequate flexibility of organization to accommodate growth and rapid change, <br />Delegation of work for releasing senior management for more futuristic tasks. <br />Criteria for Segmentation <br />Segmentation in a right fashion makes the ways for profitable marketing. This helps policy planner in formulating and innovating the policies and at the same time also simplifies the task of bank professionals while formulating an innovating the strategic decisions. The following criteria make possible rig segmentation. <br />An important criterion for market segmentation the economic system in which we find agricultural sector, industrial sector, services sector, household sector, institutional sector and rural sector requiring of weightage while segmenting. <br />Agricultural Sector: In the agricultural sector, there are four category rise since the needs of all the categories cant’s be identical. <br />The mechanization of agriculture, the improved or scientific system of activation, the help of nature, the magnitude of risk, the availability infrastructural facilities influence the level of expectations vis-à-vis the needs and requirements. The banking organization are supposed to know and under stand the changing requirements of different categories of farmers. <br />Industrial Sector: The banking organizations subserve the interests of the industrial sector. The large-sized, small-sized co-operative and tiny industries use the services of banks. The expectations of all the categories cant’s be uniform. <br /> <br />The banking organizations are supposed to have an indepth knowledge of the changing needs and requirements of the industrial segment. <br />Services sector: It is an important sector of the economy where the banking organizations get profitable business. The two categories of organizations such as profit-making and not-for-profit making are found important in the very context. <br /> <br />The banking organizations need to identify the changing needs and requirements of the services sector. With the frequent use of information technologist and with the mounting pressure of inflation and competition, we find a change in the hierarchy of needs. <br />Household Sector: This is also constitutes an important sector where different income group have different needs and requirements. in below figure we find the different segments of the household sector. <br />Household Segment: The high income group, middle income group, low income group, substance level group and marginal income group have different hierarchy of need which influence the level of their expectations. <br />Gender Segment: In the gender segments, we find male and female having different needs and requirements. The banking organizations are supposed to identify the level expectations of both sexes. <br />Some of the women are housewives and therefore they have different need and requirements whereas some of them are working ladies having different needs and requirements.<br />In the profession segments, we find different categories of professions an therefore we find a change in their needs and requirements. <br />The technocrats, bureaucrats, corporate executives, intellects, white and blue – collar employees have different needs and requirements and therefore the banking organizations should know their expectations. <br />Some of the organizations are known as cultural organizations, some of them are not for –profit making, some of them are philanthropic and some of them are related to trade and commerce. The emerging trends in the social transformation process determine the hierarchy of needs. <br />Markets segmentation thus simplifies the task of understanding the customers/prospects. The bank professional find it convenient to formulate and innovate the marketing mix of world class which simplify the process of excelling competition. <br />In the Indian perspective where we find agrarian economy contributing substantially to the transformation of national economy, it is pertinent that the banking organizations assign due weightage to the rural sector of the economy where we find tremendous opportunities. <br />The urbanization is likely to gain the momentum and villages, outskirts of big towns and cities are to be developed on a priority basis. Almost all the organizations are to get tremendous opportunities there. The marketing resources if of innovative nature would make the ways for capitalizing on the same profitably. <br />MARKETING MIX FOR BANKING SERVICES<br />The formulation of marketing mix for the banking services is the prime responsibility of the bank professional who based on their expertise and excellence attempt to market the services and schemes profitably. <br />The bank professionals having world class excellence make possible frequency in the innovation process which simplify their task of selling more but spending less. The four submixes of the marketing mix, such as the product mix, the promotion mix, the price mix and the place mix, no doubt, are found significant even to the banking organizations but in addition to the traditional combination of receipts, the marketing experts have also been talking about some more mixes for getting the best result. The “People” as a submix is now found getting a new place in the management of marketing mix. It is right to mention that the quality of people/employees serving an organization assumes a place of outstanding significance. This requires a strong emphasis on the development of personally-committed, value-based, efficient employees who contribute substantially to the process of making the efforts cost effective. In addition, we also find some of the marketing experts talking about a new mix, i.e. physical appearance. In the corporate world, the personal care dimension thus becomes important. The employees re supposed to be well dressed, smart and active. Besides, we also find emphasis on “Process” which gravitates our attention on the way of offering the services. It is only not sufficient that you promise quality services. It is much more impact generating that your promises reach to the ultimate users without any distortion. The banking organizations, of late, face a number of challenges and the organizations assigning an overriding priority to the formulation processes get a success. The formulation of marketing mix is just like the combination of ingredients, spices in the cooking process. <br />THE 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 environmental conditions. Of course the public sector commercial banks have launched a number of polices and programmers for the development of backward regions and welfare of the weaker sections of the society but at the same it is also right to mention that their development-oriented welfare programmes are not optimal to the national socio-economic requirements. The changing psychology, the increasing expectations, the rising income, the changing lifestyles, the increasing domination of foreign banks and the changing needs and requirements of customers at large make it essential that they innovate their service mix and make them of world class. Against this background, we find it significant that the banking organizations minify, magnify combine and modify their service mix. <br />It is essential that ever product is measured up to the accepted technical standards. This is due to the fact that no consumer would buy a product which contains technical faults. Technical perfection in service is meant prompt delivery, quick disposal, presentation of right facts and figures, right filing proper documentation or so. If computers starts disobeying the command and the customers get wrong facts, the use of technology would be a minus point, and you don’t have any excuse for your faults. <br />PRODUCT PORTFOLIO: The bank professional while formulating the product mix need to assign due weightage to the product portfolio. By the concept product portfolio, emphasis is on including the different types of services/ schemes found at the different stages of the product life cycle. The portfolio denotes a combination or an assortment of different types of products generating more or less in proportion to their demand. The quality of product portfolio determines the magnitude of success. It is excellence of bank professionals that help them in having a sound product portfolio. <br />We find the composition of a family sound, if members of all the age groups are given due place. Like this, the composition or blending of a service mix is considered to be sound, if well established and likely to be profitable schemes are included in the mix. It is against this background that a study and analysis of product portfolio is found significant. The bank professionals are supposed to perform the responsibility of composing the same. A sound product portfolio is essential but its process of constitution is difficult. An organization with a sound product portfolio gets a conducive environment and successes in increasing the sensitivity of marketing decisions. The banking organizations need a sound product portfolio and the bank professionals bear the responsibility of getting it done suitably and effectively. <br />If the banks rely solely on their established services and schemes, the multidimensional problems would crop up in the long run because when the well established services/schemes would start saturating or generating losses, the commercial viability of banks would of course, be questioned. The banking organizations relying substantially on a profitable scheme and ding nothing for new scheme likely to get a profitable market in the future is to face is to face a crisis like situation. It is in this context, that we find designing of a sound product portfolio essential to an organsition. We can’t deny that the product portfolio of the foreign banks is found sound since they keep their eyes moving. The innovation, diffusion, adoption and elimination processes are taken due care. The public sector commercial banks need to innovate their service and this makes a strong advocacy in favour of analyzing the product portfolio. <br />DESIGNIGN AN ATTRACTIVE PACKAGE<br />In the formulation of product mix for the banking organization, the designing of package is found important. In this context, we find packaging decision related to the formulation of a mix of different schemes and services. Developing an attractive package required professional excellence and therefore, the bank professionals are required to be aware of the different key issues influencing the formulation process. What the package should basically be or do for the particular target. We re aware of the fact that a number of schemes and services are included in the service mix of bank product and all the services or schemes can’t be preferred by all. Of course we find some of the public sector commercial banks now evincing stage. This makes it essential that a bank manager thinks in favour of developing a package. The importance of packaging can’t be underestimated considering the functions it performs and the effects which we witness in the process of attracting and satisfying the customers. In addition to other aspects, it is also pertinent that a bank manager is familiar with the package developed by the leading competitive banks since this would help them in innovating the package. It is an important component of the product mix and a bank manager while formulating or designing a package needs to assign due weightage to the formulation process. While developing a package, it is essential that the packages offered are efficacious in establishing an edge over the packages of competitors. Thus needs and preferences of the target market in addition to the packages offered by the competitors need due weightage while designing a package. <br />In the designing process the bank professionals can make a package, an ideal combination of both, the core and peripheral services. The main thing in the process is to make it profitable, convenient and productive to the customers so that they prefer to transact with the bank. For the bank professional, it is an important persuasive efforts that helps in increasing the business even without developing or innovating the services or schemes. <br />PRODUCTR DEVELOPEMNT: In almost all the services, the development of a product is an ongoing process. The banking organizations also need to develop new services and schemes. We can’t deny that the development of product specially in the banking services is found diffcult since they don’t have any discretion, however they can do it, of course in a limited way. By minifying, combining, modifying and magnifying, the banking organizations can give to the services or scheme a new look. The regulations of the Reserve Bank of India, no doubt stand as a barrier but professionally sound marketers make it possible even without violating the rules and regulations. The banking organizations in general have been found developing product by including some new properties or features. Generally we find two process for the development of product. The first process is found proactive since the needs of the target market are anticipated and highlighted. The second process is reactive and in this context the banks respond to the expressed needs of the target. <br />PROACTIVE PROCESS: In the pro-active process, we find product to market needs. This makes it essential that the branch managers are aware of the changing needs of the target market. There are six stages for the development of the product, such as idea generation, screening of the concept, assessing of market potential, analyzing the cost, test marketing and final commercial launching. The bank professionals have to be careful at all the stages so that whatever the services or schemes are developed are found instrumental in getting a positive response. The customers and competitors help bank professional substantially in generating a new idea. The screening of the product concept focuses on the process of narrowing down the list of the ideas generated to a small number of concepts. <br />The assessment of market potential is the third stage in which we find scanning of the market potentials at the apex level. The branch managers can assess the potential sin their command areas. <br />The fourth stage draws our attention on analyzing the cost on the basis of a cost-benefit analysis and the fifth stage before launching is test marketing which is found instrumental in minimizing the risk element. And finally, we find commercial launching. The Reserve Bank of India is also required to make the regulations liberal so that the pubic sector commercial banks get an opportunity to make their services or schemes internationally competitive. The unfair practices, illegitimate steps should be checked but fair practice should essentially be promoted to make the business environment conductive. <br />PROMOTION MIX<br />In the formulation of marketing mix the bank professionals are also supposed to blend the promotion mix in which different components of promotion such as advertising, publicity, sales promotion, word-of-mouth promotion, personal selling and telemarketing are given due weightage. The different components of promotion help bank professionals in promotion the banking business. <br />Advertising: Like other organizations, the banking organizations also us this component of the promotion mix with the motto of informing, sensing and persuading the customers. While advertising, it is essential that we know about the key decision making areas so that its instrumentality helps bank organization both at micro and macro levels. <br />Finalising the Budget: This is related to the formulation of a budget for advertisement. The bank professionals, senior executives and even the police planners are found involved in the process. The formulation of a sound budget is essential to remove the financial constraint in the process. The business of a bank determines the scale of advertisement budget. <br />Selecting a Suitable vehicle: There are a number of devices to advertise, such as broadcast media, telecast media and the print media. In the face of budgetary provisions, we need to select a suitable vehicle. The latest developments in the print technology have made print media effective. The messages, appeals can be presented in a very effective way. <br />Making Possible creativity: The advertising professionals bear the responsibility of making the appeals, slogans, messages more creative. The banking organizations should seek the cooperation of leading advertising professionals for that very purpose. <br />Instrumentality of branch managers: At micro level, a branch manager bears the responsibility of advertising locally in his / her command area so that the messages, appeals reach to the target customers of the command area. Of course we find a budget for advertisement at the apex level but the business of a particular branch is considerably influenced by the local advertisements. If we talk about the cause-related marketing, it is the instrumentality of a branch manager that makes possible the identification of local events, moments and make advertisements condition-oriented. <br />Public Relations: Almost all the organization need to develop and strengthen the public relations activities to promote their business. We find this component of the promotion mix effective even in the banking organizations. We can’t deny that in the banking services, the effectiveness of public relations is found of high magnitude. It is in this context that we find a bit difference in the designing of the mix of promoting the banking services. Of course in the consumer goods manufacturing industries, we find advertisements occupying a place of outstanding significance but when we talk about the service generating organizations in general and the banking organizations in particular, we find public relations and personal selling bearing high degree of importance. It is not meant that the banking organizations are not required to advertise but it is meant that the bank executives unlike the executives of other consumer goods manufacturing organizations focus on public relations and personal. <br />Personal Selling: The personal selling is found instrumental in promoting the banking business. It is just a process of communication in which an individual exercise his/her personal potentials, tact, skill and ability to influence the impulse buying of the customers. Since we get in immediate feed back, the personal selling activities energies the process of communication very effectively. <br />The personal selling in an art of persuasion. It is a highly distinctive form of promoting sale. In personal selling, we find inter-personal or two-way communication that makes the ways for a feed back. There is no doubt in it that the goods or services are found half sold when the outstanding properties are well told. This are of telling and selling is known as personal selling in which an individual based on his/her expertise attempts to transform the prospects into customers. <br />Dynamics of Personals Selling <br />The dynamics of personal selling are found instrumental in activating the selling activities. Sales preparations are considered most crucial for the actual sales. Pre-sale activities and post-sale services can’t be left neglected to improve the marketing activities. The customers may be interested in knowing the main features of the services, how a particular service would help them, rationale behind the technical services and proof in regard to its uses. The pre-sale activities would bring the positive results, if preparations are adequate. <br />Some of the customers are found highly aware of the developments, they are found well informed. On the other hand, we also find other category of customers who are in dark. Here, the branch managers are expected to match the level of awareness of customers. As for instance, Mr. A goes up the matrix but Mr. B has not enough time for the branch managers. The branch managers are supposed to prepare a synopsis of their sales talk. Not surprisingly the highly aware customers are found in apposition to make independent decisions and know all about. While selling to the less aware customers, the managers should stress on the main features of the services and the expected benefits of these services.<br />Sales Promotion: It is natural that like other organisations, the banking organizations also think in favour of promotional incentives both to the bankers as well as the customers. The banking organizations make provisions for incentives<br />