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Marketing of Banking Products
Marketing of Banking Products
Marketing of Banking Products
PRODUCTS
Pradeep (26)
Salil (27)
Rajnish (28)
Rishabh (29)
Rishika (30)
Sachin (32)
What is
banking?
Basic Definition: A system of trading money
which:
provides a safe place to save excess cash,
known as deposits.
supplies liquidity to the economy by loaning
this money out to help businesses grow and
to allow consumers to purchase consumer
products, homes, cars etc.
What are banks
Traditional external
Internal marketing Interactive marketing
marketing
Traditional external marketing
includes interest , fees or commission charged by the bank. Also the interest paid
by the bank.
Typical for banking sector since RBI regulates rates of interest, Organizations are
supposed to sub-serve weaker sections and the rural regions of the country.
Buyers look for satisfaction which differs
from person to person.
Keeping in view the level of satisfaction of a
particular segment, the banks have to frame
the pricing strategies.
The interest charged and the interest paid
should have a co-relation between them.
General steps for pricing
Product :
Saving account: offers a power packed
Savings Account with a host of convenient
features and banking channels to transact
through.
Senior citizen services: convenience with
benefits
Fixed Deposits : Safety, Flexibility, Liquidity
and Returns
Recurring Deposits: Affordability and higher earnings.
Roaming Current: access your accounts at over 500
networked branches across the country.
Loans: Home Loans. Personal Loans. Car Loans, two Wheeler
Loans, Commercial Vehicle Loans. Loans against Securities,
educational loans etc
Investments: ICICI Bank Tax Saving ,Foreign Exchange
Services, Senior Citizens Savings Scheme, 2004.
Cards: Credit card, ATM card, travelers card
Demat services
Online money transfer
Mobile banking
7 Ps of ICICI Bank
Pricing
1. Pricing Decisions related to interest, fee or
commission.
4. 2 Fold Strategies
7 Ps of ICICI Bank
Place
1. Services are sold through branches
3. Branches OF ICICI:
1900 in India and 33 in Mumbai.
7 Ps of ICICI Bank
Promotion
1. Advertising - Television, radio, movies, theatres
2. Print Media- Hoardings, newspaper, magazines
3. Publicity- Road shows, campus visits, sandwich man,
Sponsorship
4. Sales Promotion- Gifts, discount and commission,
incentives, etc.
5. Personal Selling- Cross-sale (selling at competitors place),
personalized service
6. Telemarketing- ICICI one source Call center (mind space)
7 Ps of ICICI Bank
Process
1. Standardization- ICICI bank has got standardized
procedures got typical transactions