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Marketing New Assignment
Marketing New Assignment
Letter of Transmittal................................................................................................... 2
Acknowledgement...................................................................................................... 3
Marketing Strategy of company Bank Asia..............................................................4
Introduction................................................................................................................ 5
Definition.................................................................................................................... 6
MARKETING STRATEGIES............................................................................................ 6
WHAT IS BANK MARKETING........................................................................................ 6
WHY BANK MARKETING NECESSARY...........................................................................6
PURPOSE OF BANK MARKETING.................................................................................. 6
MARKET SEGEMENTATION.......................................................................................... 7
CRITERIA FOR MARKET SEGMENTATION..................................................................7
TYPES OF MARKETING................................................................................................ 7
EXTERNAL MARKETING............................................................................................ 7
INTERNAL MARKETING............................................................................................. 8
INTERACTIVE MARKETING........................................................................................ 8
Current marketing strategies...................................................................................... 9
Objectives of the Bank Asia...................................................................................... 10
Mission of the Bank.................................................................................................. 10
Vision of the Bank..................................................................................................... 10
The Board of Directors.............................................................................................. 11
Conclusion................................................................................................................ 14
RECOMMENDATIONS................................................................................................. 15
References................................................................................................................ 16
Letter of Transmittal
Date: 17 Dec 2016
To: Mr. Shadrul Hassan Himel
Lecturer: Department of Marketing
Faculty of Business Administration
Subject: Submission of term paper on Marketing Strategy of company Bank Asia
Dear Sir,
Here we are submitting our term paper on
Marketing Strategy of company Bank Asia prescribed by you in your course. For this
Purpose, we have gone through internet, different books, articles, journals, of the respective
organizations and class lecture sheets for the relevant information of the assigned topic.
Please call us for any further information at your convenient time and place.
Sincerely Yours,
Acknowledgement
Introduction
Bank Asia Limited is a schedule Bank under private sector established with in the ambit of Bank
Company Act, 1991 and was incorporated as a Public Limited Company Under Company Act,
1994 on September 28, 1999. The Bank started commercial banking operations from November
27, 1999 with the inauguration of the Banks Corporate Office at the Rangs Bhaban. A huge
public response has enabled the Bank to keep up the plan of expanding its network. The opening
of the principal office was the big leap forward and successively the opening of Gulshan and
Chittagong branch expanded the horizon of Bank Asia to bring its services to valued clients more
effectively. Within a short period, the bank has opened four more branches in Dhaka and two
branches in Sylhet and Kishorgonj. In February 2001, Bank Asia took over the Bangladesh
operation of The Bank of Nova Scotia, the first acquisition of a foreign bank by a local bank in
the banking history of Bangladesh. Later, Bank Asia took over the Bangladesh operation of
Muslim Commercial Bank of Pakistan in December 2001. These courageous moves were
possible for some visionary decision makers and also dedicated team of professionals who are
constantly putting their best efforts to establish the bank as one of the leading concerns in the
industry.
Bank Asia has so far been highly successful in keeping its customers satisfied with its high
quality service, while continuing its expansion to reach more people around the country. Bank
Asia conducts all types of commercial banking activities. The Bank is involved in most of the
areas of commercial banking operations. The core business of the Bank comprises of trade
finance, term finance, working capital finance and corporate finance. Bank Asia has acted as the
lead arranger in raising term loan for a number of projects under syndicated finance and also
participated in some cases under such financing arrangement. The Bank is also providing
personal credit, service related to local and foreign remittances and several other products. The
Personal Credit scheme of the Bank, which is designed to help the fixed income group in
raising standard of living is competitively priced and has been widely appreciated by the
customers. Bank Asias program under Poverty Alleviation Scheme delivered through rural
branches in the form of micro credit is playing an important role towards socio economic
development of the poor people in the rural areas.
The management of Bank Asia is determined to maintain and upgrade the quality of these
resources through continuous training and upgrading technology to keep pace with market
demands, new developments and practices of the competitors. Bank Asia entered the market at a
time when economic policy environment of the country is poised for higher level of business
activities and growth. The prevailing macroeconomic management and the governments
determination to carry on reforms in the banking sector provide a supporting and encouraging
environment.
Definition
What is marketing strategy? A process that can allow an organization to concentrate its resources
on the optimal opportunities with the goals of increasing sales and achieving a sustainable
competitive advantage
MARKETING STRATEGIES
Designed after taking into account the strengths and weaknesses of the organization. Market
penetration
Market Development
Design new product range for their customers of various segments
MARKET SEGEMENTATION
The concept of market segment is based on the fact that the market of commodities is not
homogeneous but they are heterogeneous. Market represent a group of customer having common
characteristics but two customers are never common in their nature, habits, hobbies income and
purchasing techniques.
Identity
Accessibility
Responsiveness
Size
TYPES OF MARKETING
External Marketing
Internal Marketing
Interactive marketing
EXTERNAL MARKETING
Consists of usual four Ps of Product, Price, Place and Promotion of marketing mix Product: The
products offered are the services which includes various types of bank accounts, different types
of loans, investment services, Credit cards, online banking, mobile banking and many more.
PRICING
PLACE
It refers to the establishment and functioning of a network of branches and other offices through
which banking services are delivered.
Objective is to get the right product, at right places at right time at the least cost.
Extensive branch network- access to large section of people
PLACE with the advent of technology other point of contacts have come up. Such as: ATM
Telephone banking Online Banking Mobile Banking Video banking etc.
PROMOTION
Advertising
Publicity
Sales Promotion
Personal Selling
Push and Pull Strategies
PROMOTION
Public relation
Word of mouth promotion
Internet
Tele marketing
INTERNAL MARKETING
It involves the people (5th P) of the bank i.e. the employees.
Employees should also be treated as internal customers, and sort of marketing mix should be
followed.
Quality Human resource can be a point of differentiation
INTERACTIVE MARKETING
The quality of service provided during the buyer-employee interaction.
Efforts for previous strategies will turn futile if the interaction does not take place satisfactorily.
It involves: Process (6th P) Physical evidence (7th P)
PROCESS
Refers to the systems used to assist the organization in delivering the service.
Aids to the promotion of customer satisfaction
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Signage
Reports
Punch line
Tangibles
Clients are more willing to pay a premium price for strong brands.
A strong brand simplifies client choices.
Helps to retain customers.
People are naturally attracted to firms with strong brands
It confirms your credibility.
POSITIONING
services.
Being an equal opportunity employer.
To assist in bringing high quality service to our customers and to participate in the
growth and expansion of our national economy.
To set high standards of integrity and bring total satisfaction to our clients,
shareholders and employees.
To become the most sought after bank in the country, rendering technology driven
innovative services by our dedicated team of professionals.
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Designation
Mr. M. Syduzzaman
Chairman
Vice Chairman
Vice Chairman
Director
Director
Director
Director
Director
Director
Director
Director
Director
Company Secretary
The Corporate Office of Bank Asia Ltd. is situated at Rangs Bhaban(8 th floor), 113-116 Old
Airport Road, Tejgaon, Dhaka-1215, Bangladesh. It looks after and controls the banking
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The main role of the ID is to deals with foreign currency and local currency. ID has the
authority to deals every kind foreign currency conversion and made any kind of currency
swap. It also deals maintains the mutual relationship with many corresponding banks on
several issues such as agency and credit line arrangement, reconciliation, authorized signature
control, TK.C (test key control), issuance of power of attorney, fund management and
treasury operations (foreign) etc. At present ID is headed by an AVP of the bank.
6. Information Technology Division (ITD):
At present, ITD is based on Corporate Office and in the Gulshan Branch. Near Future it will
fully shifted in Gulshan Branch. In recent times ITD changed the banks software system from
Bexibank to Stealer. In the modern day banking ITD is a very important division as Bank
Asia is now serving the customers in online service. It is very significant to adapt with the
ongoing information technology revolution to provide faster services to the clients. The ITD
supervises the overall computerization of the banking operations and networking, provides
system support, deals with data processing and data entry, procures and maintain hardware,
maintains and develops software required by the Bank to facilitate and support the day to day
operations.
7. Card Division:
The card division is situated in the Scotia Branch. The core function of the Card Division is
dealing with issues ATM card, and customer and vendors management. The manager of
Scotia Branch is the Head of Card Division.
8. Audit Division:
Bank Asia believes in full transparency and accurate banking jobs perform by its employees.
For this purpose, Bank Asia created a division called audit division. They have the authority
audit in anytime in anywhere and only bound to report to the board of directors. The head of
audit department is headed by Azhar Ali Miah,SVP.
9. Share Division:
Share division deals with all kind of share related activities for example issuing dividends,
arranging AGM, issuing new shares, etc. at present Company Secretary is the head of share
division.
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Conclusion
As a ubiquitous financial institution in todays globalize economy banking sector deals with
the most insightful part of the economy.
As a third generation bank, Bank Asia has been operating successfully in the banking arena
for nine years. The assets position of Bank Asia Limited is quite satisfactory & it has requisite
strength & opportunity to sustain. It is committed to provide high quality financial
services/products to contribute to the growth of G.D.P. of the country through stimulating
trade & commerce, accelerating the pace of industrialization, boosting up export, creating
employment opportunity for the educated youth, poverty alleviation, raising standard of living
of limited income group and over all sustainable socio-economic development of the country.
In the upcoming days, for maintaining the accelerated pace of business growth and operating
performance, the bank will have to invest for the development of HR quality and research, IT
infrastructure etc.
Credit management of the bank is very important to achieve the desired objective of the bank
because the major part of total revenue of the bank is generated from it and a huge risk is
related with it. Most importantly, the existence of the bank is depending on the prudent
management of its credit portfolio. The failure of a Commercial Bank is usually associated
with the problem in credit portfolio and is less often the result of shrinkage in the value of
other assets. As such credit portfolio not only features in the assets structure of the Bank, it is
critically important to the success of the Bank also.
Bank Asia, started its journey in 1999 for A Better Tomorrow Its friendly and congenial
environment, dedication to service and ability to prove equality, at low cost, with high
efficiency has been able to develop a reputation in market. If all the efforts those were put
forward in past can be employed again with renovation and increased integrity, then we can
hope that it will not only be able to build a better Tomorrow for itself but also for the whole
nation that will lead us to build a developed and civilized nation.
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Severe competition only way to be the front line in the race is to go with learning process and
adoption of latest technology. This will help us to read the environment properly and adjust in
the changed environment.
RECOMMENDATIONS
Bank Asia Ltd has to take up some innovative as well as cost effective measures to overcome
its existing problems. I would like to present some recommendations regarding the overall
condition especially the General Banking policy as it is related to my report topic. I think the
following short listed measures can boost its performance in marketing department and the
Bank as well:
Customer service is related to do work accurately and speedy and energetic way.
Providing service at once when customer need.
Customer service is the core concern of general banking. A bank must satisfy its
customer by providing best facilities and advantages.
It sector is not well structured; it must be developed.
Take efficient and effective initiatives to raise deposit. Like Introduce new accounts to
acquire more deposit. They also offer diversified investment scheme, which leads to
increase deposits
Entrepreneurship lending should be given due emphasis.
Increase skill manpower by train up program and also create professionalism about the
bank personnel.
Take initiative to introduce scholarship program in private University level.
Bank Asia can make a structure of pay daily interest on savings account if possible.
Increase promotional activities for growth and expansion.
Restructure remuneration or salary package for the motivation of existing employees
and for the qualified peoples who wants to make banking professional life.
KYC profile is most important in successful banking. Bank Asia maintains KYC
profile.
Most of the customer faces difficulty to fill the account opening form.
When a customer comes to close an account they get their money after few days.
Nowadays it is not for a commercial bank.
The space is not enough for the banking activity; it should be increased.
Canteen facility is lower than employees. It should take necessary steps to increase
canteen facility.
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References
http://www.educarnival.com/report-on-bank-asia-limited/
https://www.scribd.com/document/201986191/Bank-Asia
www.slideshare.net/search/slideshow?
searchfrom=header&q=marketing+strategy+of+company+of+bank+asia
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