Project Report

on
Marketing Plan of
Bank of Baroda

Bank Profile
Bank of Baroda is the third largest bank in India, after the State Bank of India and
the Punjab National Bank and ahead of ICICI Bank.BoB has total assets in excess of
Rs. 2.27 lakh crores, or Rs. 2,274 billion, a network of over 3,000 branches and
offices, and about 1,100 ATMs. IT plans to open 400 new branches in the coming
year. It offers a wide range of banking products and financial services to corporate
and retail customers through a variety of delivery channels and through its
specialised subsidiaries and affiliates in the areas of investment banking, credit
cards and asset management. Its total business was Rs. 4,402 billion as of 30 June
2010.
As of August 2010, the bank has 78 branches abroad and by the end of FY11 this
number should climb to 90. In 2010, BOB opened a branch in Auckland, New
Zealand, and its tenth branch in the United Kingdom. The bank also plans to open
five branches in Africa. Besides branches, BoB plans to open three outlets in the
Persian Gulf region that will consist of ATMs with a couple of people.
The Maharajah of Baroda, Sir Sayajirao Gaekwad III, founded the bank on 20 July
1908 in theprincely state of Baroda, in Gujarat. The bank, along with 13 other
major commercial banks of India, was nationalised on 19 July 1969, by
the government of India.

Mission Statement
To be a top ranking National Bank of International Standards committed to
augmenting stake holders' value through concern, care and competence.

Services offered by Bank of Baroda

The bank has divided its operations in 6 distinct business lines1.

2.
3.
4.
5.
6.

Corporate Financial Services

Personal Financial Services
Business Services
Treasury
International Operations
Rural Banking

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SWOT Analysis of Bank of Baroda:

Strength

Bank of Baroda has the largest network of overseas branches among all
Indian banks
Its greatest strength is the confidence of stake holder on bank

Weakness:

Bank of Baroda lack technologically as compared to another bank

There has been some problem in relation to staffing

Opportunity:

Bank of Baroda started a new pilot project of MOBILE ATM in Lucknow and
Pune for the first time in India
The bank plan to further increase their international presence by adding
more branches

Threats:

Entry of foreign bank in Indian market is threat to almost all Indian bank
Staff problem : lack of staff is threat to the bank in the near future

Market Segmentation of Bank of Baroda

The Bank of Baroda has segmented its market both geographically and
demographically and behavioral segmentation can also be witnessed when we have
a closer look at its market. The main segmentation is based on the income level
and the class of people. Corporate clients and the people relating to high class of
the society are the customers of Bank of Baroda

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Customer are segmented on the following criterion

Occupation-Different products for different occupational segment

identified

Income - Minimum balance serves as a income segment barrier

Geography -Concentrated on Tier 1 & Tier 2 Cities trying to extend reach
Age-Different products like student account

Positioning Strategy
It is the fourth largest bank in India and consists of 2.5 crore customers. Banks
latest marketing initiatives are aimed at positioning it as a financial service provider
with value proposition and market driven being the keywords. The bank has
rolled out branches far and wide across the country to distribute an impressive
assortment of financial products to its heterogeneous customer base.

Targeting strategy

Corporate banking market : this market target the industries & fulfill their
financial needs.

Capital market : this segment is targeted on the long term needs of the
individual as well as of industries.

Retail banking market : this segment is for retail investors & provide them
short term financial credit for their personal, house hold needs

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Marketing Strategy of Bank of Baroda

Market Penetration

Product Development

OLD

MARKE
T

Agriculture and
allied sector
Manufacturing

Market Development

Diversification

NE
W

Marketing
Strategy of
Bank of

Retail chain
Infrastructure financing
Export Financing
Mutual Fund

Retail Finance
Housing Finance
Agro-Processing

International Corporative
Financing
Defense Equipment
Oil and Gas Exploration

Baroda

Marketing Strategy of Bank of Baroda analyzed on

the basis of the following points:

I) Recent Marketing Initiatives

1) Communication Campaigns: Shukriya Sau Salon Kaa and Baroda Next

2) Use of Sybase 365 Marketing Information System
3) Launch of Baroda Swarojgar Vikas Sansthan
4) Next Gen Branch opened in Ahmedabad

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5) 50 city sales offices opened

II) Expansion

Bank of Baroda has established its operations in Maldives, Sri Lanka, Singapore,
UAE, Yemen, Russia, Kenya, China, Malaysia, Thailand and many other countries
around the globe. Rapid integration of business with the technologies through core
banking solutions, i-banking, and host of other facilities has established Bank of
Baroda as the
foremost PSU bank in the country.

VI) Publicity
To build its brand equity, the bank has organized hosts of seminars nationally and
internationally latest being Basel II. Bank has actively managed its public relations
through media.

VII) Customer Focus

The bank has built its brand around superior customer services and international
focus which are also the point of differentiation of the bank from other PSU banks.

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7 Ps of Marketing

1) Products and Services: Bank of Baroda provides various banking products and
services to its customers. They are as follows:

Retail Banking
Rural/Agri Banking
Wholesale Banking
SME Banking
Wealth Management
Demat

2) Price:

The pricing policy of a bank is considered important for raising the number of
customers vis--vis the accretion of deposits. Also the quality of service provided
has direct relationship with the fees charged. Thus while deciding the price mix
customer services rank the top position.
The banking organizations are required to frame two- fold strategies. First, the
strategy is concerned with interest and fee charged and the second strategy is
related to the interest paid. Since both the strategies throw a vice- versa impact, it
is important that banks attempt to establish a correlation between two. It is
essential that both the buyers as well as the sellers have feeling of winning.

3) Place:

The Bank of Baroda has good location across the country. Bank of Baroda has an
extensive network of 3082 branches spanning the length and breadth of the country.
There is a branch in the vicinity of everyone in need of a banking solution.
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With a customer centric approach of being operational

countries, the bank branches

24 hours

a day, across 25

Bank of Baroda has always taken good location for its branches. For Example: In
Mumbai, there is a place with the name of Andheri(E), where it has branches at
very convenient places for customers . The branches and ATMs are nearby Andheri
Railway Station, Chakala , Saki Naka, etc. So the bank considers various good
elements while selecting a place for banking transactions.

4) Promotion:

Promotion is nothing but making the customer more and more aware of the
services and benefits provided by the bank. Bank of Baroda uses a lot of new
technology to communicate to their customers. Promotion through

Public Relations:
Television:
Newspapers and Magazines:

5) People:
Bank of Baroda has always had an immense faith in the infinite potential of its
people. This has been historically demonstrated in its recruitment practices,
developmental initiatives, placement processes and promotion policies. Strategic HR
interventions like, according cross border and cross cultural work exposure to its
managers, hiring diverse functional specialists to support line functionaries and
complementing the technical competencies of its people by imparting conceptual,
managerial and leadership skills, gave the Bank competitive advantage.

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6) Process:

Process is made easier. There are different counters for different products like
loans, deposits, cards etc. the customer can easily go to the counter he want
and perform the transaction. Process at ATM is also customer friendly with less
complexity.
.

7)Physical Evidence:

Physical evidence is the overall layout of the place i.e. how the entire bank has
been designed. Physical evidence refers to all those factors that help make the
process much easier and smoother. It is very necessary that the place be designed
in such a manner so as to ensure maximum convenience to the customer and cause
no confusion to him. Mostly nationalized banks fails to provide maximum
convenience to customers when compared to private banks.

Bank of Baroda competitors

Competitors from Public sector Bank

State Bank of India

Punjab National Bank

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IDBI Bank

Competitors from Private sector Bank

ICICI Bank
HDFC Bank

Axis Bank

Competitors from Foreign Bank

Standard Chartered Bank

ABN-AMRO Bank

HSBC

Monitoring of results:
Bank of Baroda has developed manifold in short period of time through facilities and
services provided to its customer. The Bank has an excellent growth rate. In last
couple of years the bank has opened many branches and ATM centers. The bank
offers customer oriented products and various facilities which attract more and
more customer which resulted in its growth. Today Bank of Baroda is one of the
largest Public sector Bank in India

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