Professional Documents
Culture Documents
1. Introduction.
Bank Marketing.
Why Bank Marketing.
Features of Bank Marketing.
Services.
Characteristics of Services.
Difference between Product and Services.
2. Marketing.
Features.
Marketing of Tools and Techniques.
Marketing Mix in Banking.
Growth of Service Market.
Marketing Approach in Banks.
3. Justification for Marketing the Banking Services.
Satisfaction of Customer Needs.
Bank Marketing in the Indian Perspective.
4. Articles.
Summary
Conclusion.
Shyamji Mehrotra.
A Marketing person without adequate marketing skills will destroy sales
instead of increasing it.Marketing of financial products need not only selling
skills, but adequate knowledge about banking world also. A good
salesperson require right soft skills like positive attitude, good
communication etc.
Nothing happens in a company unless a product or services is sold,
Everything else is cost.
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Introduction.
The ongoing process of economic reforms has completely changed the
operational environment for the whole banking industry in the country.
Banks are now required to cope with stiff competition in business and also
the complex regulatory norms regarding capital adequacy and provisioning.
Banks are forced to adopt various marketing techniques and approaches.
Thus, marketing has become imperative for all banks including those in the
public sector.
Marketing in banks can be stated as a new phenomenon that is shaping well
over the past one decade. Public sector bank hardly considered marketing as
a tool for business. The competition, deregulation that followed the reforms
has changed the environment for banks, where marketing has occupied the
place in the business of banks. Today, marketing in the banking industry is
characterized by many innovations in products and services, use of advanced
technology in product design, up gradation of delivery system, advertising
and sales promotion activities, whether in public sector or private sector.
Banks now have a firm that marketing strategies alone can brighten the
future of banking business. Marketing in banks has become synonymous
with customer and banks are found engaged in several activities of
discovering, creating and satisfaction customer needs.
Indian banking is at cross roads today. With the deregulation and
liberalization process in full swing, the consequent policy changes
introduced in the Indian financial system in general and banking in particular
are effecting unprecedented changes in its functioning. With the emerging
changes did spring up new challenges of commercial viability, cost
effectiveness, effective marketing strategy, etc.Market oriented policies also
gave birth to new players like foreign and private sector banks and
subsidiaries offering varied high tech and cost effective Service. There was
an absolute shift from sellers into buyers market, establishing the
consumer as the key factor in the market. The dictum as the bank exists
because of its customers, has become more pronounced and relevant in the
present context. Thus, marketing constitutes the key strategy for banks to
retain good customers and also anticipate their future demands.
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Bank marketing.
Deryk Weyer of Barclays Bank call it a process, consisting of identifying
the most profitable markets now and in future; assessing the present and the
future needs of the customers; setting business development goals and
making plans to meet them; and managing various services and promoting
them to achieve the plans all in the context of a changing environment in
the market.
Conclusion
It is submitted that the banking system is on the threshold of a momentous
era of change and continuity in growth and development, of individual
customer needs and corporate practices, technology and competitions. The
role of marketing in the banking industry continues to change. For many
years the primary focus of bank marketing was public returns. Then the
focus shifted to advertising and sales promotion. That was followed by a
focus on the development of a sales culture. Now the focus is on the
individual customer meeting and even anticipating his or needs and
developing trusting, long-term relationships by delivering high quality
personalized service. Marketing both as a philosophy and an activity; is
expected to contribute immensely to the realization of goals both immediate
and future. All though all the elements of the marketing concept customer
satisfaction, profit integrated framework and social responsibility must
receive the greatest emphasis in the years a head. They must be guided by
the dictum of Mahatma Gandhi.
A customer is the most important visitor in our promises. He is most
dependent on us. We are depending on him. He is not an interruption on our
work. He is the purpose of it. He is not an outsider on our business. He is
part of it. We are not doing him a favour by serving him. He is doing as a
favour by giving as an opportunity.
PRIMARY DATA.
1.What
2.
India is a huge country. How do you service the all India market?
3.
We have 14 Business Partners (agents) all over India. We invite all our
Business Partners once in a year to our plant to interact with
production and marketing people and brief them about development
taken place during the year.
4. What
5.
If there are outside investors, they are likely to be on the board. Thats
cool. But you should beware of boards that are only the founders and
their family and friends. You need at least one adult on board who
can be the hardass bull shiitak detector.
7. Assume
that you have $0 for marketing, how would you market the
product?
Any bozo can market a product with a million dollars. What you want
is a team that can (a) make a great product that markets itself and (b)
catalyze people to believe in the product enough to market it for you.
If the answer you get is, When were ready to ship, well raise more
money to market it, you should run for the door.
Ans : (A)
32. If done throughthe rural marketing would be more effective.
(A) fairs
(B) village fairs
(C) door to door campaign
(D) All of these
(E) None of these
Ans : (B)
33. Market Survey means
(A) Market Research
(B) Market Planning
(C) Marketing Strategies
(D) Market Monitering
(E) All of these
Ans : (A)
34. can be done through digital Banking?
(A) Mobile phone
(B) Internet
(C) Telephone
(D) All of these
(E) None of these
Ans: (A)
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