1.

Introduction of ICICI Bank

ICICI Bank Limited is an Indian Private bank. It is headquartered at Mumbai. It offers a wide
range of banking products and financial services for corporate and retail customers through a
variety of delivery channels and specialized subsidiaries in the areas of investment
banking, life, non-life insurance, venture capital and asset management.
This development finance institution has a network of 5,275 branches and 15,589 ATMs across
India and has a presence in 17 countries. The bank has subsidiaries in the United Kingdom and
Canada; branches in United States, Singapore, Bahrain, Hong Kong, Qatar, Oman, Dubai
International Finance Centre, China and South Africa as well as representative offices in United
Arab Emirates, Bangladesh, Malaysia and Indonesia. The company's UK subsidiary has also
established branches in Belgium and Germany.
ICICI Bank offers products and services such as online money transfers, tracking services,
current accounts, savings accounts, time deposits, recurring deposits, mortgages, loans,
automated lockers, credit cards, prepaid cards, debit cards and digital wallets called ICICI
pocket.

ICICI bank launched 'ICICIStack' which provides online services such as payment options,
digital accounts, instant car loans, insurance, investments, loans etc.

2. 7 Ps of ICICI Bank
 Product mix
1. Personal Finance – Investment Account, Revolving Account, Fixed Deposit Account, etc.
2. Cards – Gift cards, credit cards, co-branded cards, etc.
3. Investment banking – Different options are available to customers, including Tax Saving
Shares, Mutual Funds, Foreign Exchange Facilities, etc.
4. Loans – Personal loans, medical equipment loans, farm equipment loans, etc.
5. Financing- Platform finance is one of ICICI’s most significant assets.Corporate Banking
Insurance
6. Wealth management Private banking potential loans – The majority of banks benefit
handsomely from loan transactions.

 Place mix
ICICI Bank has a large presence in India. It has 11,162 ATMs and 3,800 branches. Shortlisted
locations for ATMs and branches are then confirmed so that services may be given to the
greatest number of consumers. The safety and security of both bank employees and users are
considered while putting up such locations.

These locations serve as a distribution point for financial services, which are available 24 hours a
day, seven days a week. The concept of online banking, as well as the use of technology for any
type of service, is a positive one. Many of its branches are equipped with contemporary
technology. 

● Price mix
Service fees for a variety of goods, including credit cards, loans, and other services, are
following industry norms and regulations.

Provides a wide range of financial services to its loyal customers. It has a straightforward pricing
plan. ICICI Bank faces a dynamic market and has devised a strategy that necessitates innovation
at every level. The decision is taken while keeping in mind the bank’s value-added ways and
analyzing the consumer’s attitude as well as the industry’s economic trends. When compared to
PSUs or even second-tier banks like Kotak Mahindra, however, ICICI can be perceived as a
premium bank.

Because its income model is based on volume, ICICI Bank is aiming for a large portion of the
market. It has also begun an aggressive pricing approach that includes low-cost fund
acquisitions. The primary goal of the bank is to reduce competition in the banking industry. To
entice customers, the bank offers loans and programs. Rates are reviewed and adjusted regularly
to meet the needs and wants of both the bank and the client.

● Promotion mix
To stay ahead of the competition, ICICI Bank has adopted an aggressive promotional approach.
ICICI Bank’s advertising strategy includes both direct and indirect consumer engagement. In
addition to emphasizing the importance of improving banking infrastructure, the benefits of
using banks’ services are also highlighted. The worth of each firm is depicted in such a way that
customers are enthralled and inspired to learn more about the bank’s offerings.

Under the branding concept, advertisements were placed in print media, and famous personalities
were enlisted for visual coverage. The addition of Shahrukh Khan, a well-known actor, to the
ads, has been a significant boost for ICICI Bank. All of the bank’s advertising screams “trust,”
which aided them much because trust is such a valuable commodity in today’s environment.

To track the customer’s wishes and demands, technology has been exploited to its greatest
potential. ICICI and Amway have collaborated on a credit card that may be used anywhere in the
world. The bank has recently established a connection with Indian Railways, and additional
services are now available to customers.

ICICI Bank’s motto, “Hum Hain Na,” is highly appropriate since it fosters confidence, faith, and
financial solutions for every consumer. It was effective in its endeavors to establish a
sophisticated modern design identity.

 People Mix
All people directly or indirectly involved in the consumption of banking services are an
important part of extended marketing mix.