Marketing Strategy of

ICICI Bank Ltd.

Deposit Products
Presented By: Sanjog Devrukhkar (Roll No.:
Hum
hain na!
11)

Introduction
Indias second largest
bank
614 branches and
extension counters
2200 ATMS
Biggest private sector
bank in India
Most valuable bank in
India in terms of market
capitalization
Described by the
competitors and industry
expert in one word
Aggressive
Hum hain na!

Firsts in the Industry

Introduced concept of branding in the Indian
banking industry
Process, People and Physical evidence brought to
life by ICICI
Product Innovation
Introduction of DSAs and DSTs
Unleashed the power of the internet
First bank to focus on retail banking as a driver for
growth
Comprehensive data centre availability & data
protection solutions
Hum hain na!

Focus areas of marketing effort

Target marketing and customer acquisition

Share of wallet
Channel strategy and management
Relationship management and database
marketing
Product development & innovation
Credit approval

Hum hain na!

Basis for segmentation

Occupation
Different products for different occupational
segment identified
Income
Minimum balance serves as a income segment
barrier
Geographical
Concentrated on Tier 1 & Tier 2 Cities trying to
extend reach
Age
Different products like student account

Hum hain na!

Nature of banking in India

Banking in India was focused

on the upper income group
Hum hain na!

Targeting
Differentiated
Marketing
Strategy
Tailors its
marketing
campaigns to
meet the needs of
its target
prospects
Creates
differentiated
product offering
for different
segment
Use of technology
in tracking
customer segment

Hum hain na!

Positioning
Core proposition Hum hain na trust,
credibility, total financial solution provider
(brought about through its cross selling effort)
Modernization process and physical evidence
technology as the backbone and accelerator

Hum hain na!

Need identification
Adapting international practices to the local context
Information system warehouse
Product development department continuously
studies market and analyses competitive landscape

ICICI Bank

Personal Banking

NRI Banking
Hum hain na!

Corporate Banking

Product differentiation
Variants in various basic products like savings bank
accounts to suit different customer base and
customer needs

Product augmentation
Redefinition of the banking products with extra
benefits and features added to the products

Pricing
Penetrative pricing aimed at achieving large market share
Philosophy of profit through volume
Effort to drive out competition
Price leader in retail banking product
Aggressive pricing facilitated through low cost of fund
acquisition
Hum hain na!

Distribution Strategy

Cross selling of products as a major area of focus

Creation of concept of DSA (Direct Selling Agent)
Creation of concept of DST (Direct Selling Team)
Effort on the part of the bank to reach the customer
rather than waiting for the customer
Use of internet, mobile, ATMs and other
technological device to reach and serve the
customers

Hum hain na!

Product Promotion
Aimed at
generating sales
Communicates
product features
and benefits
Mainly through
print media
Point of purchase
promotion tools for
different products
to reach the
relevant customer
segment

Promotion
Strategy

Corporate
Branding

Hum hain na!

Product
Branding

A man strolls down a beach,

"Zindagi naam hai, mushkil ko
aasaan banaane ka. Zindagi naam
hai zindagi ko aasaan baane ka."

Cut to a house, a man addresses

the members, "I am Ajay Sharma
from ICICI. Ma'am your home
loan has been sanctioned."

Amitabh Bacchan turns to face the camera,

"Bas. Ek bharosemand saathi hona chahiye."
Hum hain na!

MVO: "Saathi jo zindagi ko

aasan banaaye."
Super: 'ICICI Group. Saral.
Surakshit. Samajhdar.'

An old
woman tells
her daughter
about
their
neighbour's
plans for
going to
Haridvar
While the
young
woman, with
her ICICI
credit card,
books tickets
for her,
online.
The site
downloads
and the
super reads,
'Haridwar in
a week.' As
the daughter
tries to
convince
Hum hain na!
her...

"Ab is umar
mein kya
jaayenge? You
want to
ka matlab nahin
you have to",
continues the
mother.

As the older
woman takes a
peek at the
screen,
she is pleasantly
surprised.

...the MVO adds

"ICICI Credit
cards.
The power to
give your loved
ones what they
really, really
want."

A couple enter ICICI Bank

and are served coffee as
they wait to open an
account.

The man takes a swig from

his cup...
Super: Before your coffee
goes cold.
The executive smiles at
their...

Super: How long does it take to open an

account with ICICI Bank?

Hum hain na!

... disbelief and hands over

the documents.
VO: Have you opened an
ICICI Bank
account as yet?

Public Relations
Purpose - To deliver communication that is uniform in
its message and yet customized for specific target
audiences
Media relations
Press conferences
Press Releases
1-1 interviews
Investor relations
Analyst relations
Hum hain na!

Government relations

Outdoor Activities
Need to be seen
everywhere!!
Events at corporate
campus
Promotional material
at channel partner
outlets
Billboards
Signboards
Kiosks in residential
and commercial
complexes
Hum hain na!

Other Initiatives
In-film promotions Baghban
Co-Branding Initiatives
Alliance with Amway India for
launch of the international credit
card. The card will enable Amway
distributors to purchase Amway
products and earn and redeem
reward points
Indian Railways Catering And
Tourism Development Corporation,
in conjunction with ICICI Bank,
announced the launch of mobile
payments and ticketing system,
offering IRCTC customers to book
railway tickets via SMS and make
payments through their
ICICI
Bank
Hum hain
na!
accounts

Other Initiatives

Cross brand associations - acquiring databases

of high net worth clientele of lifestyle products :
Tie-up with Woven Hues
Young Stars Account Promotion through tie-up
with Cartoon Network, and in-series promotion
through Tom & Jerry
Seminars in partnership with media channels
Hum hain na!

People
Orientation
towards customer
service
Division of SME,
Personal Banking
and other
functions at the
branch level
Effort towards
providing
sophisticated and
modern image of
the bank through
its people

Hum hain na!

Process
Use of technology for both internal and external
processed
Process are system driven and independent of the
people handling it
Standardization of service across the branches
Extensive investment in software solutions for
process systemization

Hum hain na!

Phase 1: Designing
and Simplifying
Access via
Technology
Rural ATMs
Cash Agent Model

Phase 2: Designing
the Product
Phase 3: Financial
Literacy,
Marketing, and
Launching the
Hum hain na!
Pilot Product

Bibliography

www.icicibank.com
www.google.com
IIBF Vision A monthly Newsletter on Banking
and Finance
Business Today Weekly Business Magzine
Newspapers
Hum hain na!

Hum hain na!