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services in bank

services in bank

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Published by: radhika_thakkar on Sep 02, 2011
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Product Mix - Deposits - Investments - Anywhere Banking - Loans - Cards - Demat Services - Mobile Banking - NRI Services ï In case

of tie up with a college we offer educational loans to exchange students or students in case of need of finance for education. We offer sponsorship to s tudents & help them to pay back in small instalments but we ask for 7hrs of help a week. Not any work that poses a burden on the student but simple collection o f receipts from some clients as per their convenience to split up the work, also for the same we pay the student which helps to repay our loan amount. ï Attestation of important documents for NRI students.

ï Special cards for students, i.e with the college that we have a tie up with, we provide id cards for our customers which can be used as a debit/credit card. ï Tie up with most networks to provide for any time information about our services through toll free numbers.

â PRODUCT MIX (intro) 1. The banks primarily deal in services and therefore, the formulation of p roduct mix is required to be in the face of changing business environment condit ions. Of course the public sector commercial banks have launched a number of pol icies and programs for the development of backward regions and welfare of the we aker sections of the society but at the same time it is also right to mention th at their development-oriented welfare programs are not optimal to the national s ocio-economic requirements. 2. The changing psychology, the increasing expectation, the rising income, the changing lifestyles, the increasing domination of foreign banks and the chan ging needs and requirements of the customers at large make it essential that the y innovate their service mix and make them of worked class. 3. The development of new generic product, especially when the business env ironment is regulated is found a difficult task. 4. In the formulation of service mix, the banks can follow two guidelines, first is related to the processing of product to market needs and the second is concerned with the processing of market needs to product. In the first process, the needs to the target market are anticipated and visualized and therefore, we expect the prices likely to be productive. In the second process, the banks reac t to the expressed needs and therefore we consider it reactive. It is essential that every product is measured up to the accepted technical standards. 5. This is because no consumer would buy a product, which contains technica l faults. Technical perfection in service is meant prompt delivery, quick dispos al, and presentation of right data, right filing, proper documentation or so. If computers start disobeying, the command and the customers get wrong facts, the use of technology would be a minus point, and you donâ t have any excuse for your fau

lts. 6. Marketing aims not only offering but also at creating\innovating the ser vices\schemes found new to the competitors vis-a vis- to the customers. The enha nced customer patronage would be a reward to the bank. The additional attraction s, the product attractiveness would be a plus point of your mix, which would hel p you in many ways. This makes it essential that the banking organizations are s incere to the innovations process and try to enrich their peripheral services mu ch earlier than the competitors. We also find the product portfolio of the banks . While formulating the services mix, it is also pertinent that the bank profess ionals make possible affair synchronization of core and peripheral services. To be more specific, the peripheral services need an intensive care since the core services are found by and large the same. Innovating the peripheral services thu s appears to be an important functional responsibility of marketing professional s. We canâ t deny the fact that if the foreign banks have been getting a positive res ponse; the credibility goes to their innovative peripheral services. Thus, the f ormulation of product mix is found to be a difficult task that requires world-cl ass professionalism.

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