Contents

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,

Abdi Rahim aw Ahmed Muhumed

&
Mohamed Omer
2016-12-17

Acknowledgement

At first we desire to express our deepest sense of gratitude of almighty

God.

With profound regard we gratefully acknowledge our respected course

lecturer Mr. Shadrul Hassan Himel Lecturer of Marketing, Faculty of
Business Administration for this generous help and suggestion during
preparation of the report.
We like to give thanks especially to our friends and many individuals,
for their enthusiastic encouragements and helps during the
preparation of this report us by sharing ideas regarding this subject
and for their assistance in typing and proof reading this manuscript.

Marketing Strategy of company Bank

Asia

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

WHAT IS BANK MARKETING

Bank marketing is the aggregate of functions directed at providing services to satisfy customers
financial needs and wants, more effectively and efficiently than the competitors keeping in view
the organizational objectives of the bank.

WHY BANK MARKETING NECESSARY

Existence of the customer

Win more and more customer
Appropriate promise to a customer

PURPOSE OF BANK MARKETING

Identifying the most profitable markets now and in future

Assessing the present and future needs of customers
Setting business development goals and making plans to meet them
Managing the various services and promoting them to achieve the plans
Adapting to a changing environment in the market place.

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.

CRITERIA FOR MARKET SEGMENTATION

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

Interest rates charged

Transaction cost
Value pricing
Going rate 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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It involves: Speeding delivery of services Reducing the paper work Standardization of

procedures Customization as per individual demand simplicity etc.
PHYSICAL EVIDENCE
Physical evidence is the environment in which the service is delivered and where the firm and
the customer interact and any tangible commodities that facilitate performance or
communication of the service. It includes:

Signage
Reports
Punch line
Tangibles

Current marketing strategies

Direct mailing
Cold calling
Offering items having your brand identity
Using the media
Getting celebrities to endorse the product or service.
Sponsoring events
BRANDING

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

Position of bank services

Essential to communicate to customer
Benefits relative to competitors
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Carefully analyze the competition

Marketing Strategy of company Bank Asia

Bank Asia Limited was licensed as a scheduled bank. It is engaged in pure commercial banking
and providing services to all types of customers ranging from small and medium enterprises to
large business organizations. It is working for the economic welfare by transferring funds from
the surplus economic unit to those who are in deficit.

Objectives of the Bank Asia

The core business objective of Bank Asia Limited is not maximizing profit rather it focuses
on maximizing its shareholders wealth. The major corporate objectives of the Bank are noted
as under:
Delivering high quality service to its clients.

Increasing the volume of deposits.

Ensuring better security of public fund

Being the market leader by automation of banking operations and innovation of

services.
Being an equal opportunity employer.

Mission of the Bank

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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Vision of the Bank

Vision statement of Bank Asia Limited claims is To Serve the Society with a difference.

The Board of Directors

At present, the Board of directors consists of 14 members including the Chairman and two
Vice Chairmen of the Bank. Most of the members are reputed industrialist, entrepreneurs and
philanthropist in our country. The Board is headed by the Chairman. Each of the directors is
the member of the Board. The Board has appointed the Management Director, which is
responsible for the welfare of the Banks directors. Usually, at least one meeting of the Board
is held in every month to deal with major issues such as modification of the existing policy or
major policy reforms. The particulars of the Board are presented as under:
Name

Designation

Mr. M. Syduzzaman

Chairman

Mr. A. Rouf Chowdhury

Vice Chairman

Mr. Anisur Rahman Sinha

Vice Chairman

Mr. Md. Shafiuddin Chowdhury

Director

Mr. Mohd. Safwan Chowdhury

Director

Mr. Arifur Rahman Sinha

Director

Mr. Jahir Uddin

Director

Mr. Romo Rouf Chowdhury

Director

Mr. Rumee A. Hssain

Director

Mrs. Sohana Rouf Chowdhury

Director

Mr. Md. Anwar Hussain

Director

Mr. Faisal Samad

Director

Mr. Syed Anisul Huq

President & Managing Director

Mr. Aminul Islam

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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operations of the branches scattered in different important business locations in Bangladesh.

At present, there are 10 divisions in the Corporate Office. The classifications of the different
division are mentioned as follows:
1. Credit Division:
The Credit Division is one of the most vital and important divisions of every commercial
bank. The Credit Division of the Bank deals with issuing, monitoring different types of loan.
At present Kamal U. Ahmed (FAVP), is the Head of Credit Division.
2. Financial Control and Accounts Division:
This division is located in the Principal Office(PO). For this reason, PO commonly known as
Feeding Branch; the main objective of this division to monitor and control the Financial
and Accounts department of all branches. Usually Manager of PO is the head of this division.
Bank Asia Ltd. This division monitors several important functions of banking operations
performed in different branches across the country. It deals with accounts, financial planning,
and budget.
3. Human Resource Division:
HR Division is one of the crucial divisions of a bank. The jobs performed by the HR are
recruitment of employees, placement of employees in different branches; arrange workshops
& training program for the employees, performance evaluation, disciplinary actions,
promotion, cadre change, employee service rules and benefits and others. Company Secretary
is the Head of this division at the moment.
4. Logistic and General Services Division:
Logistic and General Services Division is considered as the center for providing necessary
supporting services to other departments, other branches as well as the employees. The
function of this division includes providing utility services, maintenance of premises,
purchase of printing and general stationary, dispatch and transport pool. This division has a
store in Tejgaon link road where all the necessary products are stored there.

5. International Division (ID):

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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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10. Marketing Division:

The main objective of this division to expand its business all over Bangladesh; to focus on
selecting new locations for new branches, how to attract new customers and to keep the
present customer for the future. At present, an SVP of the bank is headed this division.

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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