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and its tenth branch in the United Kingdom. Corporate Financial Services Personal Financial Services Business Services Treasury International Operations Rural Banking Page | 2 . 3. was nationalised on 19 July 1969. BOB opened a branch in Auckland. Mission Statement To be a top ranking National Bank of International Standards committed to augmenting stake holders' value through concern. 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.274 billion. Besides branches. a network of over 3. care and competence. in Gujarat.Bank Profile Bank of Baroda is the third largest bank in India. As of August 2010. Its total business was Rs. and about 1. 2. founded the bank on 20 July 1908 in theprincely state of Baroda.000 branches and offices. 6. after the State Bank of India and the Punjab National Bank and ahead of ICICI Bank. The bank also plans to open five branches in Africa.BoB has total assets in excess of Rs. BoB plans to open three outlets in the Persian Gulf region that will consist of ATMs with a couple of people. IT plans to open 400 new branches in the coming year. credit cards and asset management.27 lakh crores. New Zealand. 4. or Rs.402 billion as of 30 June 2010. along with 13 other major commercial banks of India.100 ATMs. 2. Services offered by Bank of Baroda The bank has divided its operations in 6 distinct business lines1. 4. In 2010. by the government of India. Sir Sayajirao Gaekwad III. 2. The bank. the bank has 78 branches abroad and by the end of FY11 this number should climb to 90. The Maharajah of Baroda. 5.
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 Page | 3 .
house hold needs • Page | 4 . Retail banking market : this segment is for retail investors & provide them short term financial credit for their personal. Targeting strategy • Corporate banking market : this market target the industries & fulfill their financial needs. Bank’s latest marketing initiatives are aimed at positioning it as a financial service provider with “value proposition” and “market driven” being the keywords.Customer are segmented on the following criterion • Occupation-Different products for different occupational segment identified • • Income . 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.5 crore customers. • Capital market : this segment is targeted on the long term needs of the individual as well as of industries.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.
Marketing Strategy of Bank of Baroda Market Penetration Product Development • • Agriculture and allied sector Manufacturing • • • • Retail chain Infrastructure financing Export Financing Mutual Fund Market Development Diversification • International Corporative Financing Defense Equipment Oil and Gas Exploration • • • Retail Finance Housing Finance Agro-Processing • • OLD MARKE T NE W Marketing Strategy of Bank of Baroda Page | 5 .
UAE. China. and host of other facilities has established Bank of Baroda as the foremost PSU bank in the country. i-banking.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 5) 50 city sales offices opened II) Expansion Bank of Baroda has established its operations in Maldives. Singapore. Sri Lanka. Thailand and many other countries around the globe. Rapid integration of business with the technologies through core banking solutions. VI) Publicity Page | 6 . Kenya. Malaysia. Yemen. Russia.
Bank has actively managed its public relations through media.To build its brand equity. They are as follows: • • • • • • Retail Banking Rural/Agri Banking Wholesale Banking SME Banking Wealth Management Demat 2) Price: Page | 7 . the bank has organized hosts of seminars nationally and internationally latest being Basel II. 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. 7 P’s of Marketing 1) Products and Services: Bank of Baroda provides various banking products and services to its customers.
Thus while deciding the price mix customer services rank the top position. The branches and ATMs are nearby Andheri Railway Station.fold strategies. Chakala . where it has branches at very convenient places for customers . So the bank considers various good elements while selecting a place for banking transactions. across 25 Bank of Baroda has always taken good location for its branches. etc. There is a branch in the vicinity of everyone in need of a banking solution.The pricing policy of a bank is considered important for raising the number of customers’ vis-à-vis the accretion of deposits. Bank of Baroda has an extensive network of 3082 branches spanning the length and breadth of the country. Also the quality of service provided has direct relationship with the fees charged. Saki Naka. With a customer centric approach of being operational countries. For Example: In Mumbai.versa impact. it is important that banks attempt to establish a correlation between two. Since both the strategies throw a vice. Bank of Baroda uses a lot of new technology to communicate to their customers. the strategy is concerned with interest and fee charged and the second strategy is related to the interest paid. The banking organizations are required to frame two. 4) Promotion: Promotion is nothing but making the customer more and more aware of the services and benefits provided by the bank. 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. First. there is a place with the name of Andheri(E). Promotion through Page | 8 . the bank branches 24 hours a day.
6) Process: Process is made easier. Public Relations: Television: Newspapers and Magazines: 5) People: Bank of Baroda has always had an immense faith in the infinite potential of its people. developmental initiatives. cards etc. There are different counters for different products like loans. hiring diverse functional specialists to support line functionaries and complementing the technical competencies of its people by imparting conceptual. Strategic HR interventions like. This has been historically demonstrated in its recruitment practices. Process at ATM is also customer friendly with less complexity. deposits. the customer can easily go to the counter he want and perform the transaction. 7)Physical Evidence: Page | 9 . according cross border and cross cultural work exposure to its managers. . managerial and leadership skills. placement processes and promotion policies. gave the Bank competitive advantage.• • • .
how the entire bank has been designed. Physical evidence refers to all those factors that help make the process much easier and smoother. Bank of Baroda competitors Competitors from Public sector Bank • • • State Bank of India Punjab National Bank IDBI Bank Competitors from Private sector Bank • • • ICICI Bank HDFC Bank Axis Bank Competitors from Foreign Bank • • • Standard Chartered Bank ABN-AMRO Bank HSBC Page | 10 .e. Mostly nationalized banks fails to provide maximum convenience to customers when compared to private banks.Physical evidence is the overall layout of the place i. 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.
Monitoring of results: Bank of Baroda has developed manifold in short period of time through facilities and services provided to its customer. The bank offers customer oriented products and various facilities which attract more and more customer which resulted in its growth. In last couple of years the bank has opened many branches and ATM centers. Today Bank of Baroda is one of the largest Public sector Bank in India Page | 11 . The Bank has an excellent growth rate.
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