About Firm- Industrial Credit and Investment Corporation of India or ICICI Bank Limited is

an Indian multinational banking and financial services company headquartered in Mumbai with

its registered office in Vadodara.

It is the second largest private bank and among the big four banks in India and has a network of
5,275 branches and 15,589 ATM’s across India and has a global presence in 17 countries. 

Services Offered- Retail banking, Corporate Banking, Investment Banking, Mortgage Loans,
Private Banking, Wealth Management, Credit Cards, Finance and Insurance.

STP Strategies for ICICI Bank-

Segmentation-

● Demographic Variables- 1. Occupation- Business person, salaried class.

2. Location- Metro & Rural cities.
3. Age - Students (Minors), Adults, excludes senior citizens.

● Psychographic Variables- Lifestyle- 1. People who believe in modern banking with higher
set of services such as- internet banking, travel currency card,etc.

2. Insurance Class

3. Security Class- high rated securities.

● City Attributes- 1. Different Levels

2. Emerging Levels

Targeting-

ICICI has a separate marketing strategy for different segments. It designs its marketing
campaigns to meet the needs of its target prospects. It has long used technology to track and
create differentiated product offering for its different customer segments.

Positioning-

ICICI Bank has positioned itself as a bank which gives higher standard of services through
innovation to serve the diverse needs of its various individual and corporate clients based on-

1. Customer Centric
2. Customer Friendliness
3. Service Oriented
4. Product and Service Innovation
7P’s of ICICI Bank-

1. Product- Savings account, Current account, Demat account. Other products also
include- personal loans, insurance, credit cards, etc.
2. Place- Services for ICICI Bank are sold through its various branches present both in
metro and rural cities all over India at various locations.
3. Pricing- Decision is related to interest, fee or commission. Includes raising of
customers through attractive pricing and pricing strategies relating to the overall
satisfaction in its customer segments.
4. Promotion- Includes strategies to make people aware of the products offered,
visualization via advertisements in mediums like TV, print media, etc helps
tangibilize services.
5. People- a. Employees of ICICI Bank represents its organization to its customers.
b. Includes all people involved in the consumption of banking services.
6. Process- a. Speedy delivery of services.
b. Reducing Paperwork.
c. Standardization of processes.
d. Customization as per demand.
7. Physical Evidence- a. Employee dress code.
b. Customer centric and service oriented.
c. Reduced paper usage.
d. Positioning itself as a bank giving higher standard of services through product
innovation.

Strategies for improving customer service quality-

1. Offering 24*7 customer service and support with 0% downtime.
2. Creating a mobile application with a well designed layout and interface.
3. Building customer profile and enabling a holistic single customer view.
4. Creating of a journey map to get a bird’s eye view of all the activities and
processes.

Literature Review-
1. Various researchers have studied about customer experience quality-
In the present scenario, customer experience has become the next battleground for
the organization. After commodity, goods and services, customer experience has
become the fourth offering for the organization (Pine and Gimore, 1998). Also the
satisfaction level of each customer depends upon his/her positive or negative
experiences (Myer and Sachwager, 2007). It thus a vital role in purchasing done
by customers. Moreover the customer experience depends upon a series of
interactions between the customer and the organization and it thus forms the basis
 of reactions. The evaluation depends upon the comparison made by the customer
between his/her expectations and the stimuli arising from the interface with the
organization in its offerings and their associations with different instants of touch
or contact points (LaSalle and Britton, 2003, Gentile et al, 2007).
2. They measure it-
Developed generalized scale for measuring customer experience which have been used in
different application areas.
Grace and O’cass (2004) dealt with the post consumption experience of the bank
customer and identified the effects of constructs (core services, employees service,
service cape) of feeling, satisfaction and brand attitude of the customer.
Novak et al (2000) proposed an instrument in order to measure customer experience in an
online environment using web pages, arousal, challenge, control, exploratory behavior,
flow, interaction, involvement, etc.

Research Objectives-
1. To identify customer satisfaction variable this led to building relations with
customers.
2. To study the difference in perception of the various customers of the bank towards the
various services provided by both public and private banks in India.

Methodology-
a. Research Design proposal-
For research a questionnaire survey form, comprising of different questions mentioned
with some of them being multiple choice questions, while the others having rating or
scale based option ranging from 1-5.
Total responses recorded were 82.
The questions were as follows-
1. Mention your name.
2. Age
3. Occupation
4. Do you have any bank account currently?
97% people do have bank account.
5. In which bank you have an account?
ICICI Bank (16.5%)
6. Which type of bank account do you have?
Savings account (83.1%)
7. For which reason you have chosen the bank?
Reliability (36.3%)
8. Do you know about ICICI Bank?
Yes (95%)
9. Which rating would you chose to give to ICICI Bank?
Rating of 4 (55.3%)
10. Do you have more than one account in another bank. If yes, please specify.
Yes in other banks (66.4%)
11. As a customer, what quality would you prefer the most from a bank?
Quality of service (50%)
12. Being a customer, how much satisfied are you with the quality of service provided by
ICICI Bank?
Highly Satisfied- Mobile banking (62.1%)
13. Do you know about the digital platform ICICI Bank is providing?
Yes (52.6%)
14. Do you know about iMobile or ICICI Bank mobile app?
Yes (66.4%)

b. Sources of data-
Primary Sources- ● Self-made questionnaire.
●Survey form floated among the people.

Secondary Sources- ● google.com

● icicibank.com
● slideshare.com
● Different research papers based on customer experience.
● Annual report of ICICI Bank

c. Sampling Technique Used-

Systematic and Cluster sampling.

d. Measurement of Scale used-

1. Nominal Scale.
2. Ordinal Scale.

e. Sampling unit or size is 82.

References-
1. google.com
2. slideshare.com
3. icicibank.com