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BANDRA KURLA,
MUMBAI, INDIA
INDUSTRY : BANKING
INSURANCE
ICICI:
SWOT ANANLYSIS:
It is done by a company, to find out its strengths,
weakness, and threats. It enables a company to recognize its marketing
standards and adopt strategies accordingly. Here swot Analysis of ICICI bank
is made to understand the positioning of the bank.
STRENGTHS:
1. BRAND NAME:
ICICI bank has earned a reputation in the market for
extending quality service in the market. And it has earned a brand name in a
very short period of time.
2. MARKET SHARE:
ICICI bank has largest market share of 34% in the IT and
ITES industry in the Hyderabad according to survey.
3. HUGE NETWORKS:
ICICI has the highest number of linked branches in the
country.
4. DIVERSIFIED PORTFOLIO:
ICICI bank has the all products which help to extend the
relationship with existing customer with the bank. some product, which
ICICI bank offering are:
Retail banking
Business banking
Mutual Fund
Insurance
Housing Loans
5. SALARY ACCOUNT:
Most of the company’s are having their salary account
with ICICI even if their current account is with any other bank. This is
because of the huge network of ATMS and branches of ICICI.
6. WORKING HOURS:
ICICI is the only bank which is having its working
hours from 8 to8 which is the one of the major strength of ICICI bank
with respect to IT & ITES industry .Thus some their office time in the
morning and some have it in the evening so if the working hour of the
bank is 8 to 8 it is very convenient for them.
7. TREASURY DEPARTMENT:
ICICI is the only bank which is having its treasury department
especially for Hyderabad customers. So customers can get at the best rates for
foreign exchange.
8. AGGRESSIVE MARKETING:
ICICI bank is known for its aggressive marketing of its
products. AMITABH BAHCHAN is the ambassador of this ADD. This ADD became very
succefull. This gives ICICI an edge over other bank.
9. TECHNOLOGY:
ICICI banks technology platform has been acknowledged globally as one of
the best in terms of robustness, flexibility and cost efficiency. ICICI bank is in a position to
leverage this platform to further buiold cost and service advantage.
WEAKNESS:
1. TRANSACTION COST:
ICICI bank charges high cost for its transactions. Most of the
banks prefer nationalized banks only because of this cost factor. Also the
group has found out that there are companies which are going for multi
bank system i.e. they are using only those facilities of ICICI Bank which are
provided cheaper rates and for other services they are going to nationalize
banks and MNCS. So there exists huge potential for ICICI Bank if they are
ready to make their transaction cost flexible.
3. DEFENSIVE APPROAH IN
LEADING:
ICICI Bank has defensive approach in leading. IT & ITES
Companies hesitate in giving loans to them. Because of this companies
prefer nationalized banks and ICICI bank in turn loose potential customers.
5. POOR CUTOMER
CARE/SERVICE:
ICICI Bank rapidly increasing its customer base. They
are not increasing the number of employees. This is leading to deterioration
of the standard of customer service.