The document provides a summary of the evolution of banking in India from 1786 to the present. It discusses the establishment of the earliest banks in India during colonial rule and the various phases of nationalization post-independence. Key events summarized include the nationalization of State Bank of India in 1955, 14 major banks in 1969, and 7 more banks in 1980, bringing 80% of banking under government ownership. The document also summarizes recommendations from the Narsimhan Committee reports of 1991 and 1998 and the current scenario of increased competition in retail banking in India.

1. 2012
ADVERTISEMENT &
PROMOTION IN
SERVICE
ORGANISATIONS
A Case Study on The Jammu & Kashmir Bank Ltd.
Submitted to
The Jammu & Kashmir Bank Ltd
Zonal Office North Gurgoan
Submitted By
M. Saad Ahmed.
Faculty of Management & IT
Jamia Hamdard University
New Delhi
SUMMER PROJECT 1st June 2012 to 25th July 2012
[Type the author name]

2. ACKNOWLEDGEMENT
It’s my privilege in writing this acknowledgement to thank all those who gave their views and
suggestions for helping in the completion of my internship at JAMMU & KASHMIR BANK
from 01.06.12 to 26.07.12. I would like to take up this opportunity to convey my deep sense of
gratitude to my internal mentor, Dr. Sadaf Siraj , for providing an opportunity to do this
project and internship.
I ardently thank Mr. Aftab Shalla, Relationship Executive, the Jammu & Kashmir Bank
Ltd and other staff members for having devoted some of their precious time for their
guidance. I also thank them for the rich experience that I have derived by working on this
project under their able guidance.
This project would not have been successful without the constant guidance and support of all
of them who took keen interest in my project to make it a beneficial exercise.
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3. CONTENTS
S no Particulars
1 OBJECTIVE OF STUDY
2 INDIAN BANKING HISTORY
3 ABOUT J&K BANK
3.1 History
3.2 Product offering
3.3 Profit & loss statement
3.4 Balance sheet
4 LITERATURE REVIEW
3.1 Marketing defined
3.2 Advertisement.
3.3 Promotion
3.4 Strategic Marketing
5 RESEARCH APPROACH
4.1 Research Design
4.2 Sample Size
6 LIMITATIONS
7 ANALYSIS
8 SUMMARISED INFERENCES
9 SUGGESTIONS
10 BIBLIOGRAPHY, REFERENCES.
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4. Executive Summary
The purpose of study is to evaluate the effectiveness of the advertisement and promotional
tools that JK Bank has been using.
The project was initiated on the 26th of June 2012. It opens with a brief history of the banking
system in India. Various phases have been analyzed to reveal the present banking structure.
Further, the JK Bank has been introduced to, with a brief talk about its origin, achievements
and presently offered basket of services/facilities.
The theoretical framework taken up for the study has been talked about. It mainly consists of
marketing and strategic marketing as the basis of study.
Further, a layout of the study structure has been presented. The method of sampling, pool of
respondents, target population, mode of questionnaire design, etc have been evaluated. The
study is basically of exploratory nature. The sample was randomly chosen and the pool of
respondents was selected on the basis of judgmental sampling. The questionnaires were filled
by a pool of two hundred respondents. The questionnaires were analyzed to reveal the key
findings. On the basis of the findings, some suggestions were formed.
Result of study on the basis of questionnaire is analyzed next. Here an effort is made to
explain the result derived from each question. Graphical representation for each question’s
result has been undertaken.
A summarized picture of inference drawn, from both primary and secondary sources has been
laid out. The aim is to evaluate whether the bank is strategically on the right path.
Further, a list of suggestions is provided to supplement the inferences drawn. Lastly, a list of
references and secondary information is appended to validate the study conducted.
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5. OBJECTIVE OF STUDY
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6. Objective of Study
Following objectives are aimed to be achieved.
A study of various advertisement and promotional tools adopted by the JK Bank.
The project seeks to analyze & measure the promotional strategies adopted by the
J&K bank for promotion of brand awareness & product offerings with a special focus
on operational zones outside the state of Jammu & Kashmir to measure rate of success
met by the advertisement and promotional activities taken up by JK bank to inform
the customers (both present and potential)
Draw a contrast between the effectiveness of the bank and its competitor’s strategy to
market itself.
Assessment of these tools.
Suggestions, if any.
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7. EVOLUTION
OF
BANKING SYSTEM
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8. Evolution of Banking system
The first bank in India, called The General Bank of India was established in the year 1786.
The East India Company established The Bank of Bengal/Calcutta (1809), Bank of Bombay
(1840) and Bank of Madras (1843). The next bank was Bank of Hindustan which was
established in 1870. These three individual units (Bank of Calcutta, Bank of Bombay, and
Bank of Madras) were called as Presidency Banks. Allahabad Bank which was established in
1865 was for the first time completely run by Indians. Punjab National Bank Ltd. was set up
in 1894 with head quarters at Lahore. Between 1906 and 1913, Bank of India, Central Bank
of India, Bank of Baroda, Canara Bank, Indian Bank, and Bank of Mysore were set up. In
1921, all presidency banks were amalgamated to 22 forms the Imperial Bank of India which
was run by European Shareholders. After that the Reserve Bank of India was established in
April 1935.
At the time of first phase the growth of banking sector was very slow. Between 1913 and
1948 there were approximately 1100 small banks in India. To streamline the functioning and
activities of commercial banks, the Government of India came up with the Banking
Companies Act, 1949 which was later changed to Banking Regulation Act 1949 as per
amending Act of 1965 (Act No.23 of 1965). Reserve Bank of India was vested with extensive
powers for the supervision of banking in India as a Central Banking Authority. After
independence, Government has taken most important steps in regard of Indian Banking
Sector reforms. In 1955, the Imperial Bank of India was nationalized and was given the name
"State Bank of India", to act as the principal agent of RBI and to handle banking transactions
all over the country. It was established under State Bank of India Act, 1955. Seven banks
forming subsidiary of State Bank of India was nationalized in 1960. On 19th July, 1969, major
process of nationalization was carried out. At the same time 14 major Indian commercial
banks of the country were nationalized. In 1980, another six banks were nationalized, and
thus raising the number of nationalized banks to 20. Seven more banks were nationalized
with deposits over 200 Crores. Till the year 1980 approximately 80% of the banking segment
in India was under government’s ownership. On the suggestions of Narsimhan Committee,
the Banking Regulation Act was amended in 1993 and thus the gates for the new private
sector banks were opened. The following are the major steps taken by the Government of
India to Regulate Banking
institutions in the country:-
1949: Enactment of Banking Regulation Act.
1955: Nationalization of State Bank of India.
1959: Nationalization of SBI subsidiaries.
1961: Insurance cover extended to deposits.
1969: Nationalization of 14 major Banks.
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9. 1971: Creation of credit guarantee corporation.
1975: Creation of regional rural banks.
1980: Nationalization of seven banks with deposits over 200 Crores.
The Indian Banking System:
Under the Reserve Bank of India Act, 1934, banks were classified as scheduled banks and
non-scheduled banks. The scheduled banks are those, which are entered, in the Second
Schedule of RBI Act, 1934. Such banks are those, which have a paid-up capital and reserves
of an aggregate value of not less than Rs. 5 lacs and which satisfy RBI that their affairs are
carried out in the interest of their depositors. All commercial banks- Indian and Foreign,
regional rural banks and state co-operative banks-are Scheduled banks. Non-Scheduled banks
are those, which have not been included in the Second Schedule of the RBI Act, 1934.
The organized banking system in India can be broadly divided into three categories:
(i) Commercial banks,
(ii) Regional Rural Banks and
(iii) Co-operative banks. The
Reserve Bank of India is the supreme monetary and banking authority in the country and
has the responsibility to control the banking system in the country. It keeps the reserves of all
commercial banks and hence is known as the “Reserve Bank”. Commercial Banks has been
in existence for many decades. Commercial banks mobilize savings in urban areas and make
them available to large and small industrial and trading units mainly for working capital
requirements. After 1969 commercial banks are broadly classified into nationalized or public
sector banks and private sector banks.
Evolution of Banking since Nationalization:
When the country-attained independence Indian Banking was exclusively in the private
sector. In addition to the Imperial Bank, there were five big banks each holding public
deposits aggregating Rs.100 Crores and more, viz. the Central Bank of India Ltd., the Punjab
National Bank Ltd., the Bank of India Ltd., the Bank of Baroda Ltd. and the United
Commercial Bank Ltd. Rest of the banks were exclusively regional in character holding
deposits of less than Rs.50 Crores. Government first implemented the exercise of
nationalization of a significant part of the Indian Banking system in the year 1955, when
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10. Imperial Bank of India was Nationalized in that year for the stated objective of "extension of
banking facilities on a large scale, more particularly in the rural and semi-urban areas, and for
diverse other public purposes" to form State Bank of India. SBI was to act as the principal
agent of the RBI and handle banking transactions of the Union & State Governments
throughout India. State Bank of India was obliged to open an accepted number of branches
within 5 years in unbanked centres. Government subsidized the bank for opening
unremunerative branches in non-urban centres. The seven banks now forming subsidiaries of
SBI were nationalized in the year 1960. This brought one-third of the banking segment under
the direct control of the Government of India. But the major process of nationalization was
carried out on 19th July 1969, when the then Prime Minister of India, Mrs.Indira Gandhi
announced the nationalization of 14 major commercial banks in the country. One more phase
of nationalization was carried out in the year 1980, when seven more banks were
nationalized. This brought 80% of the banking segment in India under Government
ownership. The country entered the second phase, i.e. the phase of Nationalized Banking with
emphasis on Social Banking in 1969/70
Narsimhan Committee – I (1991)
The objective of setting up this committee was to mainly improve the financial health of the
banking sector & to look into the structure of the banking system in India. Recommendations
given under this report are as follows:
Reduction of SLR to 25 per cent over a period of five years.
Phasing out of directed credit programmes and redefinition of the priority sector.
Deregulation of interest rates so as to reflect emerging market conditions.
Stipulation of minimum capital adequacy ratio of 4 per cent to risk weighted assets by March
1993, 8 per cent by March 1996, and 8 per cent by those banks having international
operations by March 1994.
Adoption of uniform accounting practices in regard to income recognition, asset
classification and provisioning against bad and doubtful debts.
Imparting transparency to bank balance sheets and making more disclosures.
Setting up of special tribunals to speed up the process of recovery of loans.
Setting up of Asset Reconstruction Funds (ARFs) to take over from banks a portion of their
bad and doubtful advances at a discount.
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11. Restructuring of the banking system, so as to have 3 or 4 large banks, which could become
international in character, 8 to 10 national banks and local banks confined to specific regions.
Rural banks, including RRBs, confined to rural areas.
Setting up one or more rural banking subsidiaries by Public Sector Banks.
Permitting RRBs to engage in all types of banking business.
Abolition of branch licensing.
Liberalizing the policy with regard to allowing foreign banks to open offices in India
Rationalization of foreign operations of Indian banks.
Giving freedom to individual banks to recruit officers.
Inspection by supervisory authorities based essentially on the internal audit and inspection
reports.
Ending duality of control over banking system by Banking Division and RBI.
Revised procedure for selection of Chief Executives and Directors of Boards of public sector
banks.
Obtaining resources from the market on competitive terms by DFIs.
Speedy liberalization of capital market.
Narsimhan Committee - II (1998)
The main objective of this committee was to make the banking system stronger & look into
the possibility of mergers & acquisitions.
Recommendations listed under the report were:
Capital adequacy requirements should take into account market risks also.
In the next three years, entire portfolio of Govt. securities should be marked to market.
Risk weight for a Govt. guaranteed account must be 100%.
CAR to be raised to 10% from the present 8%; 9% by 2000 and 10% by 2002.
An asset should be classified as doubtful if it is in the sub-standard category for 18months
instead of the present 24 months.
Banks should avoid ever greening of their advances.
There should be no further re-capitalization by the Govt.
NPA level should be brought down to 5% by 2000 and 3% by 2002.
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12. Banks having high NPA should transfer their doubtful and loss categories to ARCs, which
would issue Govt. bonds representing the realizable value of the assets.
We should move towards international practice of income recognition by introduction of the
90-day norm instead of the present 180 days.
Banks should update their operational manuals which should form the basic
document of internal control systems.
There is need to institute an independent loan review mechanism especially for large
borrow accounts to identify potential NPAs.
Recruitment of skilled manpower directly from the market is given urgent consideration.
To rationalize staff strengths, an appropriate VRS must be introduced.
A weak bank should be one whose accumulated losses and net NPAs exceed its net worth or
one whose operating profits less its income on recap bonds is negative for 3 consecutive
years.
The Bank of International Settlements, Basle, Switzerland, has addressed itself to the
question of what is capital, what constitutes adequate capital and what are the risks that
capital should cover, and has laid down some norms. While the norms are not mandatory and
Indian is under no compulsion to adopt prudential norms for regulation of banking activity.
Accordingly, the Reserve Bank has accepted the Narsimhan Committee recommendations on
capital adequacy for banks and has stipulated that banks with international operations should
achieve a capital risk weighted assets ratio of 8% by March 1994; other banks should reach a
level of 4% by March 1993 and 8% by March 1996. The Committee has suggested that
before complying with these norms, banks will need to straighten out the assets side of their
balance sheet by revaluation of assets, adequate provisioning, setting up of an Assets
Reconstruction Fund to take care of problem assets and a special tribunal for recovery.
Accordingly, it was found that the Narsimhan Committee norm of 2% capital risk weighted
assets for tier 1 capital had been achieved by all banks. Banks with an international presence
were aggregated; PSBs need to raise their capital and reserves by about Rs.1, 840 cores to
fulfill the tier 1 capital requirement of 4%.
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13. Current Scenario
Indian Banking industry has been undergoing rapid changes reflecting a number of
underlying changes. Liberalization and deregulation witnessed in the Indian markets in the
1990s have resulted in a spurt in banking activity in India. Significant advances in
communication have enabled banks to expand their reach, both in terms of geography
covered as well as new products introduced. With increased competition in wholesale
banking due to the entry of foreign banks and new private sector banks, the sector has
witnessed a squeeze in margins. This has led to banks increasing their focus on retail banking
so as to obtain access to low cost funds and to expand into relatively untapped, potential
growth areas. Banks and financial institutions are thus continuously exploring new avenues
for increasing their footprint and safeguarding their margins.
Competition from multinational banks and entry of new private sector banks has rewritten the
rules of the retail lending business in India. Slow growth in corporate lending, pressure on
corporate spreads due to competition and concerns over asset quality have induced public
sector banks to follow the private sector banks in placing emphasis on growth through
expansion of retail portfolio.
The Indian retail lending market is relatively unexplored with the per-capita usage of retail
product offerings such as housing finance, credit cards, auto loans; consumer finance, etc.
lower as compared to Asian peers. Also the relative size of the Indian market, backed by
factors such as a growing population of bankable households, low penetration rate for retail
finance products and the increased propensity of the urban populace to take credit, offers
scope for expansion. In retail financing most of the players are trying to enter or consolidate
their housing finance segment, as housing loans market is perhaps the least risky segment in
the financial sector. Housing finance companies (HFCs) generally target the retail borrower
where the nature of the loan ensures that defaults are few and far between. The relatively
small size of a housing loan also ensures the risk is well spread out. Moreover pursuance to
the government's policy to provide shelter to a large number of people and concessions
provided in the Finance Act to boost housing and housing finance activities indicates great
future potential for this segment.
Interest paid on capital borrowed for the acquisition or construction of property is entitled to
a deduction. A couple of years ago, the maximum amount eligible for deduction was Rs
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14. 15,000 and then got doubled to Rs 30,000. Later, the amount got further enhanced to Rs
75,000 and is now Rs 1, 50,000. While nationalized banks struggle with their baggage from
our socialist past, winds of change are sweeping other segments. Modern day banks are not
mere suppliers of money. They have become providers of a wide range of services. Provided
the government rectifies its policies, banks can provide a host of services such as selling
insurance, mutual funds and investment opportunities, as in other countries. More dramatic
are the developments in technology. Today, traditional business models are being challenged.
Customers can do all their banking transactions while sitting at home.
Banks are introducing Automated Teller Machine (ATM) cards and, lately, debit cards as
well. This promises to change the face of banking forever. The industry is currently in a
transition phase. On the one hand, the PSBs, which are the mainstay of the Indian Banking
system, are in the process of shedding their flab in terms of excessive manpower, excessive
non Performing Assets (NPA’s) and excessive governmental equity, while on the other hand
the private sector banks are consolidating themselves through mergers and acquisitions.
PSBs, which currently account for more than 78 percent of total banking industry assets are
saddled with NPAs (a mind-boggling Rs 830 billion in 2000), falling revenues from
traditional sources, lack of modern technology and a massive workforce while the new
private sector banks are forging ahead and rewriting the traditional banking business model
by way of their sheer innovation and service. The PSBs are of course currently working out
challenging strategies even as 20 percent of their massive employee strength has dwindled in
the wake of the successful Voluntary Retirement Schemes (VRS) schemes. Public Sector
banks that imbibe new concepts in banking, turn tech savvy, leaner and meaner post VRS and
obtain more autonomy by keeping governmental stake to the minimum can succeed in
effectively taking on the private sector banks by virtue of their sheer size. Weaker PSU banks
are unlikely to survive in the long run. Consequently, they are likely to be either acquired by
stronger players or will be forced to look out for other strategies to infuse greater capital.
The private players however cannot match the PSB’s great reach, great size and access to low
cost deposits. Therefore one of the means for them to combat the PSBs has been through the
merger and acquisition (M& A) route. Over the last two years, the industry has witnessed
several such instances. For instance, Hdfc Bank’s merger with Times Bank Icici Bank’s
acquisition of ITC Classic, Anagram Finance and Bank of Madura. Centurion Bank, Indusind
Bank, Bank of Punjab, Vysya Bank are said to be on the lookout. The UTI bank- Global
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15. Trust Bank merger however opened a pandora’s box and brought about the realization that all
was not well in the functioning of many of the private sector banks.
Foreign banks are likely to succeed in their niche markets and be the innovators in terms of
technology introduction in the domestic scenario. While their focused operations, lower but
more productive employee force etc will stand them good,
possible acquisitions of PSU banks will definitely give them the much needed scale of
operations and access to lower cost of funds. These banks will continue to be the early
technology adopters in the industry, thus increasing their efficiencies. Also, they have been
amongst the first movers in the lucrative insurance segment. Already, banks such as ICICI
Bank and HDFC Bank have forged alliances with Prudential Life and Standard Life
respectively. This is one segment that is likely to witness a greater deal of action in the future.
In the near term, the low interest rate scenario is likely to affect the spreads of majors. This is
likely to result in a greater focus on better asset-liability management procedures.
Consequently, only banks that strive hard to increase their share of fee-based revenues are
likely to do better
in the future.
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16. ABOUT J&K BANK
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17. About the bank
Jammu and Kashmir Bank Limited with its registered office is at M.A Road, Srinagar was
incorporated on 1st October, 1938 and commenced its business from 4th July, 1939 at in
Kashmir (India). The Bank was the first in the country as a State owned bank. The bank had
to face serious problems at the time of independence when out of its ten branches; two fell in
to the other side of the Line of Control (Pak Administered Kashmir). According to the
extended Central laws of the state, Jammu & Kashmir Bank was then defined as a govt.
Company as per the provision of Indian Companies act 1956. In the year 1971, the Bank
received the status of scheduled bank. It was declared as "A" Class Bank by RBI in 19760.
Today the bank has way above 500 branches across the country and has recently become a
Billion Dollar Company.
The J&K Bank is governed by the Companies Act and Banking regulation act in India. It is
listed on both the leading stock exchanges of India, NSE and BSE. Despite the government
holding 53% shares of the bank, it still holds the unique position of a private sector bank.
Most of the governmental work to be carried on in the state is routed through the JK Bank.
Salaries of the government are disbursed through this bank, the collection of taxes pertaining
to CBDT (Central Board of Direct Taxes) is handled by the JK bank. The plan and non plan
funds, taxes and non-tax revenues are routed through this bank.
The JK Bank holds the unique position of being the only private sector bank to be privileged
as the agent of the RBI. It’s been rated of as “P1+” by Standard & Poor-CRISIL, which is the
highest degree of safety allotted to any bank.
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18. LOGO:
Recently, the bank has changed its logo as a sign of attaining new
identity. Its wishes to communicate its philosophy and strategy by its means. The three
colored squares represent the three regions of Jammu, Kashmir and Laddakh. The counter
form created by the interaction of the squares is a falcon with outstretched wings- a symbol of
power and empowerment. The synergy between the three regions propels the bank towards
new horizons. Green signifies growth and renewal, blue conveys stability and unity, and red
represents energy and power. All THESE attributes are integrated and assimilated in the white
counter form.
Salient Features
SERVICES OFFERED BY THE J&K BANK
The JK Bank offers a plethora of services and the basket of services it caters has met with
great success. The bank has left no stone unturned in recognizing the needs of its customers
and meeting the same with utmost satisfaction.
Savings Bank Deposit Scheme SB -No Frills Account
Account can be opened with a minimum initial deposit of Rs.100/- to Rs.500/-
Convenient and easy to operate account to save time and money.
Suitable for irregular income group No time bar on depositing or withdrawing money.
SB Ujala -No Frills Account
Main Features
A variant of Saving Bank account to ensure financial inclusion and to strive for
making banking services easily accessible to all segments of society.
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19. Minimum initial deposit is Rs.50/-. However, customers also allowed opening the
account with banking instruments like Banker's cherub, etc. However, minimum
balance of Rs 50/- is mandatory to keep the account operational.
4 withdrawals permissible per month.
Cheque book facility available to account holder/s maintaining average quarterly
balance of Rs.1000/- and above for past 6 months
Recurring Deposits Scheme Recurring Plus Account Smart Saver Scheme Depositors
Pension Scheme Millennium Deposits Scheme
Salient Features
A unit based scheme where deposit is held in the units of Rs.500/- each.
It enables the depositor to withdraw any number of units during the currency of the
deposit but not before completion of 45 days in the event of an exigency.
Interest accrued on quarterly basis with compounding effect.
Flexi Deposits Scheme Salient features
Automatic access to obtain loan facility against the deposit.
No execution of documents required for obtaining loan against the deposit.
Depositors are not required to surrender the original Flexi Deposit Receipt at the time
of availing of loan facility.
Interest accrued on quarterly compounding basis.
Fixed Deposits Scheme Salient features
Ideal product for short-term investors.
Interest accrued on quarterly basis, but payable at maturity of the deposit.
Can be opened with Rs.100/= and above for different maturities ranging from 7 days
to 10 years.
Child Care Scheme Salient features
Ideal scheme for children through guardian.
However, the scheme is open for all other categories of customers.
Available in three maturity slabs of 12, 16 and 20 years
Cash Certificates Salient Features
A fixed deposit scheme.
Minimum period of deposit six months.
Amount to be deposited in multiples of Rs.100/-.
The interest compounded quarterly, which ensures more and more returns on
maturity.
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20. Super Earner Deposits Scheme Salient Features
The scheme has the option of depositing under variable interest rate.
The floating rate of interest applicable to the deposit is usually higher than fixed rate.
Interest rate reviewed after periodical intervals depending upon the market conditions.
- Every time rate of interest is re-set it applies to the deposit from the date of change
notified by the Bank for the residual period of the deposit till its maturity or next
review whichever is earlier.
Recurring Deposits Scheme Salient Features
Enables the depositor to convert his/her regular monthly savings to a lump sum
amount and earn higher rates of interest.
Fixed monthly installment.
Minimum Monthly installment of Rs.50/- and above in multiples of Rs.5/-.
Smart Saver Scheme Salient features
Core term deposit of Rs.25, 000/- linked to an operative a/c, SB or CD.
The core term deposit and the linked operative account must have the same account
title.
Only one Smart Saver term deposit linked to the operative account.
Auto & Reverse sweep facilities available. - Beyond a certain threshold balance in the
operative account, amounts in units of Rs10, 000/- auto swept to form series of linked
term deposits.
Anywhere Banking, Internet banking, phone banking and mobile banking facility
available.
Depositors Pension Scheme Salient features
Best suited for persons who do not enjoy pension benefits either from their present
employers or their present business.
A depositor can earn a regular income by way of pension every month and also a fund
to fall back upon in case of urgent need.
Tax Saver Term Deposit Scheme Salient Features
Higher rate of interest
Tax benefits under section 80C of Income Tax Act, 1961.
Additional Incentives
o Free Credit Card issuance linked to amount of deposit.
o 0.25% higher rate of interest on any one new term deposit (other than
TSTDS).
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21. o 1% interest rebate on first year on our Housing, Educational or Consumer
Loan Scheme.
o For deposits of Rs.50, 000 and above, no installation charges for POS
machine.
Mehandi Deposit Certificate Salient Features
Exclusively for the girl child. - Available in five maturity slabs of 5, 7, 10, 12 and 15
years.
The amount payable under the scheme is predetermined as Rs.25, 000/-, Rs.50, 000/-
and Rs.1, 00,000/-.
More the period, lesser the amount to be deposited.
Gift Cheque Scheme Salient features
Unique mode to present your gifts to your nears and dears on all occasions.
Available in the denominations of Rs.101, Rs.201, Rs.501, Rs.1001 and Rs.5001.
Payable at par at all branches of the bank.
As a value addition, the beneficiary of gift cheque can invest the amount of the
cheque in any of the Term Deposit Schemes of the Bank and the Gift Cheque's
issuance date is given as effective date of the Term deposit.
Current Accounts
Variants
Platinum Current Account
Gold Current Account
Premium Plus
Current Account
Premium Current Account
Basic Current Account
Platinum Current Account
Minimum average quarterly balance Rs.5.00 lacs.
Free Demand Draft issuance.
Free duplicate Demand Drafts.
Free Collection of Bills.
Free Pay orders / Banker's Cheque issuance
Free inter-branch funds transfer
Free cheque collection. Free Debit Card & much more...
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22. Gold Current Account
Minimum average quarterly balance of Rs.2.50 lacs.
Free Demand Draft issuance upto Rs.50 lacs per month.
Free inter-branch funds transfer.
Free bill collection upto Rs.5.00 lacs per month
Free cheque collection & much more...
Premium plus Current Account
Min. average quarterly balance Rs.1.00 lacks.
Free demand draft issuance upto Rs.30 lacs per month.
Free bill collection upto Rs.2.00 lacs per month.
Free inter-branch fund transfer upto Rs.50.00 lacs per month.
Free cheque collection & much more...
Premium Current Account
Min. average quarterly balance Rs.50, 000.
Free demand draft issuance upto Rs.15 lacs per month.
Free Pay Order / Banker's Cheque.
Free inter-branch fund transfer upto Rs.20.00 lacs per month.
Free local cheque collection & much more...
Top Basic Current Account
Min. average quarterly balance
Rs.1,000 (rural)
Rs.3,000 (semi urban / urban)
Rs.5,000 (Metros)
Housing Loan Scheme Quantum of loan
For Construction /Purchase 60 months net salary or 75.00 Lacks whichever is lower.
For repairs/renovation 20 months net salary, subject to a maximum of Rs.10.00 Lacks.
For purchase of land: 20 months net salary/income subject to maximum of Rs.5 Lacks
within J&K and Rs10.00 Lacks outside J&K.
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23. Also as an incentive for small borrowers, the loans upto Rs. 1.5 Lacks granted for
repairs/renovations of existing houses would now be secured by third party guarantee
of two persons or such other security as is deemed appropriate by the Bank.
Educational Finance
Rs.10.00 lacks for studies in India.
Rs.20.00 lacks for studies abroad.
Automobile Finance
Eligibility
Permanent Employees of State / Central Government, Employees of Government /
Semi-Government Undertakings & Autonomous Bodies
Employees of Private Limited Companies, Private Organizations, Reputed
Establishments & Employees on contractual basis with Central/State Govt,
Government/ Semi-Government Undertakings& Autonomous bodies*
Businessmen, Professionals and self employed individuals.
Other Finances
Loan is granted for purchase of durable consumer goods like
o Desktop Computer ( P.C )/ Laptop
o Motor Cycle / Scooter / Air Conditioner
o Color TV / DVD Player/ VCR / Generator/ Washing Machine (automatic) /
cooking range.
o Refrigerator / Dish Antenna/DTH Equipment/ Kerosene Room Heater/
Washing machine
o Vacuum cleaner
o Water Filter cum purifier / CD Players /Cassette Players / Geyser / Cooler, etc.
Consumption Loan
Features
Disbursed in cash
No questions asked about its end-use.
Revolving type facility, as full limit can be restored on request of the borrower subject
to the following:-
o Outstanding balance reduced to below 40% of the loan amount.
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24. o At the time of reinstatement of the limit, applicant must have sufficient
remaining years of service so that loan is repaid within the borrowers
remaining years of service.
o Fresh D.P Note for full amount of loan.
o Borrower has not had more than two installments in arrears on any point of
time during currency of loan.
o Borrower shall have to furnish an undertaking from drawing and disbursing
officer for intimating the bank about their transfer and noting that outstanding
from the bank and the monthly installment obligation in their LPC forwarded
to the next drawing and disbursing authority.
Fair Price Shop Scheme Introduction
The scheme is launched to provide hassle free cash credit facility to Fair Price Shops.
The facility under this scheme can be availed to meet working capital requirements
for procuring the supplies –food grains and sugar from Assistant Director (Stores).
Specialized Finance Schemes
Help Tourism (For Kashmir valley only) Purpose
Exclusive scheme providing hassle free credit for the conversion of residential
properties into tourist guest houses (renovation/refurbishment only)
Agricultural Term Loan
To provide adequate and timely credit for comprehensive requirements of farmers with
flexible and simple features Purchase of assets (farm equipments, bullocks, etc)
Creation of assets (Orchard Development, Dairy Development, Poultry development
etc)and
Any other activity under Agriculture, Horticulture, Sericulture, Animal Husbandry,
Plantation, Fisheries etc.
An indicative list of activities is presented herein below.
o Setting up of small Dairy/Poultry units · Orchard Development
o Crops (Paddy, wheat, maize, oil seeds, saffron, vegetables etc)
o Purchase of Farm Machinery eg. Water pumps/Spray pumps
o Dug wells, Bore wells, shallow tube wells, sprinklers and drip irrigation.
o Purchase of plough animals
o Purchase of seeds, pesticides/fertilizers · Vegetable farming
o Setting up Rural Retail Agricultural outlets
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25. o Construction of Godowns/grading sheds
o Plantation, nurseries
Zafran Finance
To provide adequate and need based financial assistance for cultivation of saffron. The
term loan shall cover the entire plantation & production costs including plant material,
agricultural machinery, labor, etc. Post-harvest & Packaging costs shall also be
covered.
Roshni Financing Scheme
To provide finance to occupants desirous of acquiring freehold rights of the land under
their occupation, as per the SRO-64 dated 5th March 2007, issued by Govt of Jammu
& Kashmir.
Dastkar Finance Nature of Facility
To provide adequate and timely credit for comprehensive requirements of Artisans &
Craftsmen, etc.
Khatamband Craftsmen Finance Objective
To provide adequate & timely credit for comprehensive requirements of the
Khatamband Craftsmen.
Laptop/ PC Finance
To provide loans for purchase of Laptops/PC’s to students pursuing Post- Graduate
degree courses in any of the UGC recognized universities of J&K State.
Global Access Card Salient Features
Pin Based -Maestro / Cirrus Debit Card
Provides online access to savings or current account.
Accepted at all domestic as Well as International MasterCard™, Maestro™, Cirrus™
Enabled ATM's and Point Of Sale locations.
Accepted at National Financial Switch (NFS) ATM's.
No Transaction Fee at JK Bank ATM's
Cards Customer Benefits
20-50 day Credit Free Period
Revolving Credit Facility on paying of minimum payment due in the same billing
period.
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26. Hassle free credit facility at competitive rate of interest.
Cash Withdrawal Facility upto 20% of total credit limits.
Loyalty programme
24 Hour Customer Assistance at JK Bank Helpdesk.
Types of Cards
Blue Empowerment Card
Silver Empowerment Card
Gold Empowerment Card
JK Bank -Mutual Fund Tie Ups Role of J&K Bank in Mutual Funds
J&K Bank has entered into tie-ups with reputed Asset Management Companies for
distribution of Mutual Fund products.
The AMCs with which the Bank has entered into an arrangement are:
UTI, Kotak and Reliance Mutual Fund. The Bank shall undertake
distribution of their current schemes as well as NFO (New Fund Offer) as
and when the AMC comes up with the same.
Life Insurance Segment
MetLife India Insurance Company Limited (MetLife) is an affiliate of MetLife, Inc. and was
incorporated as a joint venture between MetLife International Holdings, Inc., The Jammu and
Kashmir Bank, M. Pallonji and Co. Private Limited and other private investors.
In association with MetLife, the Bank is offering the following Life Insurance Policy to
its customers:
Met Bhavishya - A flexible money-back plan
Met Junior - Par Endowment
Met Mortgage Protector SP - Single Premium Mortgage Protection Plan
Met 100 - Limited Pay Whole Life Insurance
Met 100 Gold - Par Whole Life
Met Platinum (Endowment) - Participating endowment assurance for face amounts
above Rs. 3 lakhs.
Non Life Insurance Segment
Insurance products of Jammu and Kashmir Bank is offered in association with Bajaj Allianz
General Insurance Co. Ltd are:
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27. Motor insurance
Hospital cash
Burglary
LITERATURE
REVIEW
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28. Marketing Defined
Marketing is an integrated communication based process through which individuals and
communities discover that existing and newly-identified needs and wants may be satisfied by
products and services.
Marketing is defined by the American Association as the activity, set of institutions, and
processes for creating, communicating, delivering and exchanging offerings that have value
for customers, clients, partners and society at large. The term developed from the original
meaning which literally referred to going to the market.
The Chartered Institute of Marketing defines marketing as "The management process
responsible for identifying, anticipating and satisfying customer requirements profitably.
The organization, in order to stay ahead of its competitor’s needs to address the needs of its
customers, i.e. target market in a fashion superior to that adopted by its competitors.
Therefore the organization needs to think strategically.
Marketing mix is defined as the set of controllable, tactical marketing tools that the firm
blends to produce the response its wishes to generate in the target market. The variables can
broadly be grouped in four major categories, viz
Product
Price
Place
Promotion
The product refers to the product-service package the company offers to the target market.
Price refers to the monetary consideration exchanged by the customer for attainment of the
product. Place refers to the destinations at which the customer can avail the offering. Each
category further has its sub areas of concern. Promotion, basically a misnomer for marketing
communication refers to the process of informing and persuading the target group with
respect to the merits of the product(s). An effective marketing programme blends all the
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29. ingredients in fashion which would deliver superior value to the customers as compared to
that delivered by the competitors.
Advertising
Advertising is defined as a mass, paid form of non personal presentation of ideas, goods or
services by an identified sponsor.
Advertising can be traced back to the very beginning of recorded history. It offers certain
advantages as a tool of communication.
It offers a planned and well controlled message.
It can contact numerous individuals at the same time and therefore the cost per
prospect drops.
Same message can be delivered in the same context in a variety of ways.
It helps pre-sell goods and draw customers to buyers.
A plethora of choices exist to present the message to the prospect using advertisement
campaign.
While devising an advertising campaign, the management must keep the following points in
mind.
1. Advertising objective.
2. Advertising budget.
3. Advertising strategy.
4. Evaluating the campaign.
Promotion
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30. Sales promotion consists of short term incentives to encourage the sale of product or
service. Sales promotion offers reasons to buy now, whereas advertisements offer reasons
to buy the product. Sales promotions are targeted towards the final buyer (consumer
promotion) or business (business promotion); retailers and wholesalers (trade
promotions); members of the sales force (sales force promotion), etc.
The objectives for organizing sales promotions are many. Sellers may use it to increase
short term sales or to help long term market share. Objectives for trade promotion include
getting retailers to carry new items and more inventories, getting them to advertise the
product and give more shelf space, etc.
In general sales promotion must aim to build consumer relationship. Rather than creating
only short term sales or temporary brand switching, they should help reinforce the
product’s position and build long term relationship with consumers.
A variety of tools can be used to promote a product or service.
The various tools used are:
Samples
Coupons.
Cash refund.
Price packs.
Premiums.
Advertising specialists
Patronage reward.
Point of purchase (POP) promotions.
Contests, sweepstakes, games.
Samples offer a trial amount of a product. Sampling is the most effective, but the most costly
way to produce the product. Coupons are certificates that give buyers a saving when they
purchase a specified product. Cash-refunds are like coupons but the reduction takes place
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31. after the purchase as opposed to before purchase in case of a coupon. Price packs offer
savings off the regular price of the product. Price packs are very effective in generating short
term sales. Premiums are goods offered at a low price or free as an incentive to buy a product.
Advertising specialties are articles useful to the people imprinted with the advertiser’s name.
Typical items include pens, calendars, diaries, etc. Patronage rewards are offered for regular
use of a companies’ product. Point of purchase includes displays at the place where purchase
is to take place. Contests, sweepstakes, games, etc give the customers a chance to win
something such as cash, trips or goods, by luck or through an extra effort.
All these activities aim to highlight the product, the company, the price, etc in order to
generate sales in the short run and build strong customer relationship in the long run.
Strategic Marketing
Strategic planning involves the process of developing and maintaining a strategic fit between
the organization’s goals and capabilities and changing marketing opportunities.
Several forces affect a firm’s marketing strategy. The environment in which it operates,
consisting of external, macro forces as demography, economy, social setup, etc; the
immediate forces accounted for by the suppliers, customers, competitors and marketing
intermediaries.
The organization after deciding on its overall strategy can start taking care of its marketing
mix.
Strategic marketing refers to a systematic process that a firm undertakes to develop and
implement its strategic marketing plan with an objective to attain organization’s objectives.
Strategic marketing intends to answer the following questions:
Where are we now?
It means identifying and analyzing the existing posture of an organization in
terms of market scope and competitive advantage.
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32. Where do we want to be in the future?
This involves decisions regarding setting of marketing goals and objectives.
How are we going to get there?
These calls for the formulation of marketing strategies that help a marketer
achieve his goals and objectives. It is also concerned with all such issues that
are related with the successful implementation of the marketing strategies.
How will we know when we get there?
It is concerned with monitoring, progress, evaluating the performance of the
marketing function, and setting up systems for modifying the marketing
activities and/or the strategies and plans in response to this monitoring.
According to the position a firm occupies in the market, it can be classified into four
categories, viz
Market Leader: An institution provides lead to the industry not only because it has
largest market share but also by setting the trends in different elements that constitute
the firms’ market offering. Such an institution takes care of both his interest and of the
industry.
Market Challenger: An institution that is capable of providing almost a matching
response to the competitive moves of the leader. Such an institution is capable of
managing its growth by taking customers from the leaders as well as followers.
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33. RESEARCH
APPROACH
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34. Research Design
A direct customer survey was undertaken to address the issue. The research qualifies to be of
an exploratory nature. For attaining the said objective, a questionnaire was devised and
presented to the sample population. The data so attained qualifying to be of primary nature
was analyzed and supplemented with secondary data to reach a valid conclusion.
Various sources served the purpose of secondary data. The basic sources are
Internet.
Bank’s annual report.
Journals.
Newspapers.
previously conducted surveys
Sample Size
A sample of 200 respondents was chosen for the purpose of study. The sample randomly
chosen mainly consists of customers of the bank. The questionnaire mainly consists of
multiple choice questions, a few are dichotomous or open ended. Such a structure helps attain
answers within the scope set for the questionnaire. The pool of respondents was first
introduced to the aim of study, basic guidelines were explained and then the response time
was monitored to ensure on track progress of the study.
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35. LIMITATIONS
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36. Limitations
The study conducted has been conducted under certain limitations, owing to which the results
are subject to a certain margin of error. The results hence obtained are not absolute and
subject to following limitations.
Time available for the study has been one of the limitations
The pool of respondents chosen is small as compared to the total customer base of the
bank.
The sample has been chosen on judgmental basis, thus the results would differ if any
other basis is taken for the purpose of study.
The response of respondents has been low which hindered the process of study.
The view of the respondents is limited to the questions asked in the questionnaire. A
broader analysis could reveal different information too.
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37. ANALYSIS
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38. 1) Which of the following banks you most often come across through advertisement?
a) SBI b) HDFC c) J & K Bank d) PNB e)
ICICI Bank
%age of respondent
100
93
90
83
80
70
70
60
60
50
%age of respondent
40
30
30
20
10
0
SBI HDFC J&K BANK PNB ICICI
Conclusion:-
Of the pool of respondents the majority is aware of SBI and other banks while as the
visibility of The J&K bank is poor as compared to its competitors, which clearly indicates the
poor advertisement strategy of the J&K Bank.
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39. 2) Through what kind of advertisement you come across it
a) TV & radio b) Newspaper c) Hoardings d) Internet e) Any other,
please specify
%AGE OF RESPONDENT
80 75
70
60
50
50 45
40
%AGE OF RESPONDENT
30
20
10
10
0
T.V./ RADIO Newspaper HOARDINGS Internet
Conclusion:
Here the respondents were offered to choose more than one option, which has lead to the total
responses climb to more than 200 in this case.
Amongst the sources of advertisement, hoardings are the most popular source. TV, radio is
popular nearly to a good extent. Internet seems to be catching at rapid pace as a mode of
advertisement.
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40. 3) How do you come to know about the facilities/ products of the bank?
a) News paper Advertisement b) Friends and peers c) Bank employees d) Television
e) Local Cable Channels f) Internet
Column1
90
80
80
70
60
50
38
40
Column1
30
20 15
10
10 5
0
Newspaper Friends/peers Bank T.V. Internet
employees
Conclusion:
Of the respondents most of them have said that they come to know about the various products
of the bank through the employees which clearly indicates the importance of imparting
product knowledge to the employees at the same time it calls for use of other modes like
newspaper, internet & TV so as to be able to make more & more customers to come across
the table.
.
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41. 4) I avail most of the JK bank products because I come to know about them through
Advertising:
a) Strongly agree b) agree c) Neutral d) Disagree e) Strongly disagree
%age of respondent
80 75
70
60
50
40
30 %age of respondent
20 13
10 5 7
0
0
Strongly Agree Neutral Disagree Strongly
agree Disagree
Conclusion:
Majority (75%) of the respondents does not seem to be effected by the advertisement
campaign to an extent to lead to indulging in product purchase from the bank. Though the
advertisements are popular in case of competitors, but attractiveness, suitability of the
products is not communicated clearly. Majority of them strongly disagree with the face that
they are not aware of J&K bank itself not to talk of its products.
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42. 5) Please tick marks the various JK bank services which you are aware of:
a) E- banking b) Credit cards c) SMS banking d) Anywhere banking e) ATM /
Debit Cards f) Insurance g) Mutual Funds h) Foreign Exchange i) Not
Aware of J&K Bank
%age of respondent
90 85
80
70
60 55
50
40 35
%age of respondent
30 25
20
20
10
0
E-Banking Credit cards Anywhere ATM/ Debit Not aware
Banking Cards
Conclusion:
Of the respondents 85% say they are not aware of the J&K bank however when asked about
ATM,Anywhere banking & Credit cards a considerable percentage of respondents said they
are aware of these products as they constitute the basic banking facilities in present day
banking world.
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43. 6) Which of the following means of marketing communication is most common in JK?
Bank?
a) Newspaper b) TV & radio c) Hoarding d) Internet e) Any other, please
specify______________
%age of Respondent
100
90
90
80
70
60
50
40 %age of Respondent
40
30
20 15
10
10 5
0
Newspaper T.V./ Radio Hoardings internet Not aware
Conclusion:
The question tries to bring to light the loopholes in the bank’s system. The major source of
concern has been the advertisement strategies style adopted by the bank. Of the pool of
respondents the majority say that they are unaware of the bank however amongst the
respondents who are aware of the bank 40% say that most commonly they come across
hoardings.
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44. 7) What in your opinion is absent in J&K Bank:
a) Lack of attractiveness in its schemes. b) Lack of advertisement c) Better options
from other banks d) Poor communication and product knowledge of the bank’s
employees e) All of the above
%age of Respondent
90
80
80
70
60
50
40
%age of Respondent
30
20
10
10 5 5
0
Lack of attractve Lack of less knowledge Better option
schemes adveertisement bank employees from other banks
Conclusion:
The tallest bar makes it evident & self explanatory that even the respondents know that the
poor advertisement policy of the J&K bank makes it least visible in the market & with the
result very less no. of people are aware of the bank.
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45. 8) The employees of JK bank are fully aware of the various schemes of the bank:
a) Strongly agree b) Agree c) Neutral d) Disagree e) Strongly disagree
%age of respondent
90
80
80
70
60
50
40
%age of respondent
30
20
10
10 5 5
0
0
Strongly Agree Neutral Strongly Agree
agree disagree
Conclusion:
The awareness of the bank employees here has been rated at very low however majority of
respondents have remained neutral in this case again citing the reason of been unaware of the
bank so no case of judging the employees arise.
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46. 9) Please tick marks the various schemes of J&K Bank you are aware of:
a) Smart saver scheme b) Child care deposit scheme c) Mehandi deposit scheme
d) Desktop / laptop loan e) Tax Saver Deposits Scheme f) Recurring Deposit
Scheme g) Recurring Deposit plus Scheme
70 65
60
50
40
30 20
20
10 0 5 0 5 5
0
Here the respondents have outrightly rejected any awareness of the products of the J&K
banks 65% of the respondents are unaware of the bank while among the rest who are aware
of the bank maximum of 20% are aware of a scheme or two which clearly indicates the level
of change
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47. 10) JK bank does not fully advertise itself at national level:
a) Strongly agree b) agree c) neutral d) disagree e) strongly disagree
%age of Respondent
70
63
60
50
40
30 27
%age of Respondent
20
10 7
3 2
0
Strongly agree Neutral Disagree Strongly
agree disagree
Conclusion:
Through this question the national presence of the bank was aimed to be evaluated. A great
chunk of the respondents seem to agree to the notion that the bank does not advertise itself at
the national presence. Though the bank has had a strong presence at the regional/state level,
its presence nationwide is negligible. Though 12% of the respondents owned that the bank
has national presence too. But the statistics of the respondents agreeing and strongly agreeing
account for nearly about 88%, which can be easily taken as a generalization.
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48. 11) The official Website of J&K Bank is highly attractive, interactive and informative:
a) Strongly agree b) agree c) neutral d) disagree e) strongly disagree
%age of Respondent
90
80
80
70
60
50
40
%age of Respondent
30
20
10
10 3 5
2
0
Strongly Agree Neutral Disagree Strongly
agree disagree
Conclusion:
Majority of the respondents again have remained neutral as they are not aware of the website
of the J&K Bank. The bank needs to put in sustained efforts to make people aware of the
website in order to promote its products & the bank in particular.
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49. 12) The employees of the bank provide me information about all the ranges of the
Product:
a) Strongly agree b) Agree c) Neutral d) Disagree e) Strongly disagree
%age of respondent
80
70
70
60
50
40
30 %age of respondent
20 15
10
10 3
2
0
Strongly Agree Neutral Disagree Strongly
agree disagree
Conclusion:
At large the respondents remained neutral as they are unaware of the bank however among
the ones who are the customers of the bank on the evaluation of their responses it was found
the they relatively agreed with the fact the employees provide them information about the
range of products.
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50. 13) The message carried out by the advertisement is easy to understand
a) Strongly agree b) agree c) neutral d) disagree e) strongly disagree
%age of respondent
80
69
70
60
50
40
30 %age of respondent
20
20
10 7
1 3
0
Strongly Agree Neutral Disagree Strongly
agree Disagree
Conclusion:
The question aimed at evaluating the effectiveness of communicating the message to the
audience. The respondents greatly inclined towards disagreeing to the fact that the message is
easy to understand. Other opinions (i.e. strongly agree, neutral disagree etc) are not heavily
owned in the respondent’s pool. The results indicate failure of the communication
programme as the only mode of advertising they are using is hoardings that too at very low
frequency which has led to unawareness of the bank name among the masses.
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51. 14) Have you ever shifted your account/ deposits / loan account from JK bank to any
Other bank on the basis of advertising?
a) Yes b) no
10
YES
NO
90
Among the pool of respondents chosen 90% say that they have not shifted their account from
the bank as they are not aware of the bank.
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52. 15) I have shifted my loan or deposit account from JK Bank to other bank because of?
a) Advertisement b) Service quality c) Complex formalities d) Any other Reason…..
%age of Respondents
2
10
Advertisement
13 Service Quality
Complex
Formalities
Other Reason
75
CONCLUSION
Of the pool of respondents that majority (75%) have mentioned that they are not aware of the
J&K bank, so no question of shifting the account arises. However a considerable %age of the
respondents who are having account with J&K bank say that they have shifted their account
to other banks because of poor service quality in the bank..
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53. SUMMARISED
INFERENCES
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54. ______________________________________________________________Inferences
The study of primary data and secondary data reveal the following results.
Jk bank has emerged as the leader in the market in the state of Jammu & Kashmir, No bank
qualifies as its close competitor. The bank enjoys a clear lead in terms of presence in the
market. It has thus been able to position itself successfully in the market.However when it
comes to national presence the bank has failed to position its visibility as the study reveals
that majority of the respondents have denied the fact that they know about J&K Bank.
e-revolution , which is the most evident need of this era seems to have hardly touched the
lives of JK bank customer (Existing & Potential).
Effectiveness of advertisements is not very high, nearly the 90% of respondents believe that
the bank has done nothing to make people aware of the brand .
Use of internet has been quite neglected by the bank, an important facility like mobile phones
(sms banking) has largely been ignored. It could serve as a very important and accessible
source of advertisement.
The popularity of service such as e-banking, sms banking, i.e. contemporary modes are quite
unpopular.
Internet, by the study conducted, has emerged as the least popular source, and hoardings are
somewhat popular.
The knowledgibility rate has been a mere 16%. This is an issue of concern. The bank having
dedicated resources to launch various schemes, their presence has not been communicated to
the public at large and its customers in particular in an efficient manner.
Majority of the respondents strongly agree to the fact that the bank does not have a strong
national presence. The bank has been largely focusing on regional strength and brand
building.
The bank has been able to build a strong brand name, but the non conventional products it
offers under its umbrella remain ignored. Thus, the focus needs not shift but shared between
bank and product promotion.
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55. Many promotional and advertisement tools are already used by the bank, (as indicated in the
secondary information appended at the end). The number of tools used is ample, but the
effectiveness of each tool needs to be reassessed. The bank in recent years has had a facelift.
Its physical evidence has greatly improved, but the change of layout alone can’t be taken as a
measure of success. The mode of service delivery remains an issue yet to be addressed.
The biggest issue and challenge in front of the bank is to make its name visible on the
national scene in order to be able to grab more and more market share in terms of the
customer base
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56. SUGGESTIONS
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57. __________________________________________________________________SUGGESTIONS
• The bank needs to gear up its advertisement policy to make the visibility of the bank
significant.
• The concept of segment wise promotion policy is to be put in place to adopt different
strategies to make people aware of the brand name. Though the secondary sources
reveal that the position of the J&K Bank is very strong in the state of Jammu &
Kashmir but to be able to grow at higher pace the bank must have to adopt to
contemporary strategies which are to be put in place in those market segments where
the competition is very stiff and primarily the people are unaware of the bank name
• The bank should focus on the promotion of its wide range of products.
• The work culture needs to improve. For undertaking relationship marketing, the bank
needs to make its employees feel important. It can be achieved when the customers
are duly addressed and their concerns taken care of.
• Though the bank has taken up contemporary modes, but their popularity is quite low,
as revealed by the study. The bank has launched these facilities, but they remain
predominantly unpopular. It calls for an immediate action on the part of management
to think of ways to augment awareness.
• The bank should issue pamphlets along with income statements to let the customers
know about various facilities offered. The bank can also supplement its already used
promotional tools such as diaries, calendars to talk about the plethora of facilities they
offer. For the group of potent customers in the target market, such pamphlets can be
distributed free of cost. The back side of the receipts taken by the customer on
withdrawal from ATM machines can be printed with information about the
facilities/schemes that the bank offers.
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58. BIBLIOGRAPHY /
REFERENCES
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59. ______________________________________________Bibliography / References
1. Dion Global Solutions Limited.
2. Google.com.
3. www.Jkbank.net.
4. J&K Bank directory for list of branches.
5. Annual report of J&K Bank.
6. J&K Bank profit& loss and Balance Sheet.
7. Interview of J&K Bank employees.
8. Babie, Earl. 1989. The practice of social research 5th Edition.
9. http://ecommons.txstate.edu/polsfacp/39/
10. Philip Kotler book “principles of Marketing.
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