BRM RESEARCH PROJECT

Revamping Marketing Strategies & CSR Practices

A case of Sindh Bank

Group Members:
 Janeeta Arain (1911115)
 Ayesha Nawaz (1911327)
 Shere Bano (1911353)
 Insha ur Rehman (1911114)
 Qalb E Abbas (1911132)
Introduction
In today's world a brand isn’t recognized by what the brand tells you but what is the consumers'
perception and communication among each other about your brand. This phenomenon is called
word of mouth in the marketing world. Word of mouth is created when a brand establishes
positive perception through marketing in the consumer's mind. Consumers recall brands that
have very effective marketing and stay in consumers' approach, this creates a recall to the brand
in consumers mind when they see advertisements and marketing from their favorite brand. 
Henry Ford; an American industrialist, business magnate, founder of the Ford Motor Company;
quotes ‘stopping advertising to save money is like stopping watches to save time’. Advertising is
basically seen as an investment in a business to increase sales as customers now need touch
points. However information overload can result in a bad image if companies don’t use the
media effectively to market their product or service the right way. Businesses in the service
industry tend to spend very less on their marketing whereas service industry needs to build
Relationships with their customers as a large part of the customers' buying decision depends on
the degree to which he trusts the seller as the product the company provides is an intangible
service.
Customer trust can be built by informing customers how much the company values them.  We
identified that most particularly in service industry banks neglect to focus on marketing .If banks
cannot truly focus on customer relationship they are doomed to be just dumb commodity service
acting behind the scenes just like utilities.
Sindh bank is one of Pakistan's commercial banks established in 2010 in Karachi, funded by the
government of Sindh. The company’s headquarter is located in Karachi. The bank has
established 330 online branches over the period in 139 cities all over Pakistan. The company's
current president is Mr Imran Samad and chief financial officer Mr. Dilshad Hussain Khan. The
company’s vision is to promote economic activity to empower and create employment
opportunities for people of Pakistan. The mission statement is ‘to develop as a leading
Commercial Bank in the country by meeting its stated objectives of promoting economic
development of the country in general and in the Province of Sindh in particular’.
Company Problem

Sindh Bank was formed as a state owned bank that provided microfinance loans and other
banking services. Today since its inception SBL has a branch network that stands at 330
branches in 139 cities across Pakistan with Sindh region being the hub where the bank has 100
branches while it has 48 branches in Punjab, six in Baluchistan and five in Khyber Pakhtunkhwa.
In addition SBL is a partner of the Government of Pakistan and the Government of Sindh in
implementing various development projects besides its general banking operations.

Although having such a huge banking network overall the country with programs such as Sindh
insurance, Sindh health and many more and a big database of clients. The marketing strategy of
Sindh Bank is very limited especially on the social media and digital platforms where although it
has its social media page but it is not that active and creative in its content that leads to less
following. When we talk about traditional marketing through advertising and other promotional
activities there is a little or no presence of Sindh bank which ultimately poaches its potential
clients to other commercial banks who have a smart and effective marketing strategy.

Additionally, although SBL indulges in CSR activities routinely, it does not market it properly
through its social media platforms and by the creation of environment reports alongside their
annual reports. Thus by not marketing themselves properly SBL is not only losing its potential
customer but consumers perceive it as a traditional public sector bank with poor service, thus this
perception can be corrected by constructing an effective marketing strategy. While looking at the
social media presence of SBL, we came to the conclusion that only the LinkedIn account of SBL
produces and shares good content with higher following than any other social media page.
Research Objectives

 To redesign the social media platforms of Sindh Bank through effective marketing
strategies and create post content to effectively attract the selected target audience.

 To create a positive perception and remove any misconceptions in the target audience's
mind, who are associated with Sindh bank or are potential customers of the banking
industry.

 To raise awareness about various programs that Sindh Bank Limited offers such as Sindh
Insurance, Sindh Health and small micro finance loans that are aimed to help and
facilitate young entrepreneurs to start up their own venture.

 To revamp the marketing strategies of Sindh Bank and create effective balance between
social media marketing and traditional marketing through various promotional and
advertising techniques efficiently.

 To amplify the various CSR activities undertaken by the Sindh Bank Limited through
social media platforms and other marketing methods raising more awareness among its
customers and their target audience. 
LIMITATIONS

This whole research regarding Sindh bank currently faces some restrictions .The older generation
serving the bank at senior positions are more orthodox/conservative in nature in terms of their
mindset hence they are mostly reluctant in speaking about the pressing issues of the company let
alone accepting change and resolving those issues .the major roadblock we faced in terms of
gathering facts for our research was the fact that we weren’t given a lot of information or closure,
there was a lot of hesitation shown by the staff in this regard.

We are facing major time constraints as we only have 16 weeks to complete the whole research
project and the time frame is very less to uncover all the deep rooted problems and suggest
probable solutions. Apart from that Young researchers like ourselves, most of us are probably
doing this for the first time so naturally we will have difficulty figuring out a lot of stuff and
collecting relevant information regarding most topics of our research.

We are also dealing with geographical biases resulting in difficulty throughout the whole
process. While Sindh bank on one hand is claiming that they are representative of Sindh as a
whole hence the name but on the other hand they are being extremely biased and have a lot of
branches only in Karachi and not the interior or other major cities like Sukkur, Larkana, Thatta
of Sindh. Moreover another major roadblock is the cost constraints that we will be facing as a
team to carry out the relevant research throughout all of these 16 weeks.
SCOPE

Sindh Bank brings to you products that serve your needs in accordance with consumer banking,
whether you need cash for your child education or marriage, or thinking of buying a car of your
choice. We are here to serve your financing needs. Includes services like auto finance, home
finance and personal loans. Along with that Sindh bank is also providing SME financing
includes services like term finance ,working capital finance ,running finance ,cash finance ,letter
of credit ,letter of guarantee ,contract & export collection service ,pre & post shipment export
financing ,import financing  and bill discounting.

Our main scope is providing the customer with an ultimate customer satisfaction experience
along with best services turning them into loyal long-term customers. Our main focus includes
traditional advertisement, this includes the “usual” venues for media placement, such as
newspaper, radio, broadcast television, cable television, or outdoor billboards. It is also
extremely important that we properly advertise all the products and services on all major social
media platforms for major viewership. A strong social media presence along with celebrity
endorsements and collaborations, this would help a lot with the customer inflow in the bank and
ultimately with the market share of Sindh bank.

 Another major tool is Corporate Social Responsibility which is an integral part of business
strategy whereby companies act with responsibility towards social and environmental concerns
in their business operations and interactions with their stakeholders. Thus through CSR
companies aim to achieve a balance of economic, environmental and social imperatives
simultaneously addressing the expectations of shareholders and stakeholders.

In the earlier times Organizations were considered only as profit maximizing entities but with
changing times and a more aware society many companies have felt they could strike a chord
with their stakeholders through their CSR activities. CSR is basically a tool for organizations to
carry out diverse activities to fund and resolve social problems and to fulfill their commitment
towards society. It also allows the organizations to generate and assign the resources in effective
and efficient ways so that’s why CSR is extremely important.

It addresses pressing issues of the society like  eradication of hunger and poverty, education
promotion, employment-enhancing vocational skill , promotion of gender equality, empowering
women, reducing child mortality and improving maternal health, combating human
immunodeficiency virus, acquired immune deficiency syndrome, malaria and other diseases,
ensuring environmental sustainability, social business projects and contribution to the Prime
Minister’s National Relief Fund or any other fund set up by the Central Government or the state
governments for socioeconomic development, and relief and funds for the welfare of the
Scheduled Castes, the Scheduled Tribes, other backward classes, minorities and women in those
particular areas. CSR is a very crucial tool used by major companies for their image building and
perception. Image of the company in simple terms can be described as perception in the minds of
the stakeholders in the business. Image is what a company conveys about itself, its business,
ethics, governance, culture and professionalism. An organization can integrate community
interests into its core values and discharge social commitment and in turn generate a positive
image in the minds of the people. Image perceivers are the employees, consumers, vendors,
financiers and public at large.
Expected Outcomes

Image building can be done through various social media platforms. Such as fully updating
Sindh Bank social media accounts Facebook/LinkedIn. Firstly choose one or two social media
platforms to focus on. For the networks we will be using, we will make sure all of the
information is complete and accurate. This will help to direct and grow traffic to the networks.
Secondly, regularly share content as this will increase the engagement and visibility of the Bank.
Make sure the posts are creative, positive and informative.

An Advertisement campaign (through digital marketing) increases the visibility and opportunity
of market penetration. Digital marketing uses technologies or platforms such as websites, email,
apps. Through digital marketing the image of Sindh Bank could be improved. A scripted
advertisement with a positive message and highlighting some low loan housing schemes. 

Sindh Bank can increase its contribution to the society by initiating support for charitable causes
such as promoting education, health care, and clean drinking water in TharParkar. Partnering
with an NGO or hospital such as Indus/Shuakat Khanum. In Order to differentiate, discount
cards could be introduced by partnering with several food and clothing outlets. Discount cards,
once introduced, could be marketed effectively. The card would be exclusively designed in either
gold or tale blue color.

Also availability of the ATM facility at various locations such as malls. Furthermore social
media pages, flyers and the website should be revamped considering the latest trends in order to
stand out. Moreover sponsorships, partnerships or collaborations with celebrities and influencers
would be effective in creating a distinctive image. For exampl Faysal Bank featured Shaheen
Shah Afridi. Celebrity endorsement or ambassadors will create a positive image and recognition
as well. 

Facilities such as low interest loan programs with easy installments to entrepreneurs in order to
start their startups. Other than this low cost housing schemes on lower interest rates could be
introduced. To stay in the limelight and for a positive image publicly promoting and highlighting
CSR initiatives and practices through paid TV commercials is crucial.
Target Audience 

The target audience we plan to choose for this research is very precise and specific yet effective.
These individuals would be from the pool of frequent and general banking customers, generally
from the age group of 24 till 55 who are indulged in banking process and possess more than one
bank accounts rather as they are discovering and searching for better programs and schemes in
the banking industry.

Moreover, since this is a time bound activity the segmentation method we proposed for this
research project consists of geographic as well as demographic segmentation that will be carried
out by targeting the specific age group mentioned above. These individuals would be either
employed or retired. The socio economic class which we plan to target is middle to upper class.
The geographic location we choose for this research is Clifton, Karachi from where we will be
approaching banking customers of various banks in the location and if they fit in the above
criteria we will be gathering their opinions and suggestions through the data collection method
whether quantitative or qualitative as listed below in the data collection procedure.

Data collection procedure 

Research Methodology

1. Qualitative Research: 
Qualitative research refers to a market research method which focuses on obtaining data through
open-ended and conversational communication. This method basically comprises of collecting
and analyzing non-numerical data to understand concepts, opinions, or experiences. It is used to
gather in-depth insights into a problem or generate new ideas for a research project. This method
is not only about “what” people think but also “why” they think. Qualitative research methods
are designed to reveal the behavior and perception of a target audience with reference to a
particular topic. There are different types of qualitative research methods, two of these are in-
depth interviews and focus groups.

For reaching concrete conclusions the data collected should be holistic and carefully analyzed.
Qualitative research is a more flexible approach than quantitative research since it enables
participants to express themselves while providing data.

A focus group is a commonly used data collection method in qualitative research. Focus groups
usually include a limited number of respondents (8-10) from within the target market. One
advantage of focus groups is, you don’t necessarily need to interact with the group in person. 
For group sessions, 10 participants would be recruited from the local area that is Clifton,
Karachi. This will include existing customers of Sindh Bank as well as individuals who are
generally from the age group of 24 till 55 who are indulged in banking activities. The group
session would be conducted in a separate office environment in presence of a professional
researcher. A checklist of topics to be discussed would be prepared beforehand. This list would
include topics like what do you think about Sindh Bank, its facilities and customer service. How
distinctive are they? What problems are you facing associated with Sindh Bank? How well they
have marketed their offerings. 
Detailed report would be prepared after thorough analysis of the discussions which would be
used to draw conclusions. 

2. Quantitative Research: 

Quantitative research refers to the process of collecting and analyzing numerical data. It is used
to find patterns, make predictions, test causal relationships, and generalize results to a greater
number of population. Quantitative research collects information from existing and potential
customers through sampling methods and sending out online surveys, and questionnaires. The
results obtained from this research can be illustrated in the form of numerical. After careful
understanding and analyzing the numbers, future prediction can be computed of a product or
service. So that any changes required can be done beforehand. Furthermore quantitative research
depends on concrete numbers and fewer variables. This can help to remove biases from the
research and make the findings more accurate.

Survey in the form of a questionnaire with 10-15 key close-ended questions and rating scales
would be sent to the target audience of 200 individuals. These individuals would be from the
pool of frequent and general banking customers, generally from the age group of 24 till 55. The
sample size will allow analysis on the basis of different groups in the survey.
This survey would be conducted  to investigate how well they are aware of Sindh Bank’s
benefits, schemes etc. How often do they see Sindh Bank's advertisements either in newspapers
or on television? Whether they would be willing to open an account at Sindh Bank if they are
associated with CSR programs. The questionnaire would be in form of google forms and would
be posted online on various social media platforms to obtain responses from the target audience.

Face-to-face interviews
Face-to-face interviews are basically professionally organized interviews conducted by trained
interviewers. In these interviews the trainer uses a standardized protocol along with a
standardized set of responses for recording participants' responses. Our sample size would be 50
individuals who are generally from the age group of 24 till 55 who are indulged in banking
process. These individuals would be either employed or retired and belong to the middle and
upper class. The geographic location from which these individuals would be selected for research
is Clifton, Karachi. 
Timeline 

Weeks  Tasks 

Week 1-3 Researched and got approval on topic

Week 4-5 Working on research proposal- meeting with company representatives

Week 5- 6 Completion of proposal

Week 7 Questionnaires being finalized and sent out 

Week 8 Mids +  final proposal review

Week 9-10 Discussion and guideline development 

Week 11-12 Forming mini focus groups

Week 13-15 Result interpretation & Final compilation of research

Week  16 Final presentation

Expected cost 

Particulars  Cost 

Material and supplies cost 1,000

Printing cost 1,000

proceeding/Fuel Cost 5,000

Other Miscellaneous Expenses 1,500

Total Project cost 8,500