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BY:

Aayush Jaidev
Arvind Sharma
Piyush Chhabra
Angad kalanta
Robin Chhabra
Birendra kumar Singh
Vinod Prajapat
INTRODUCTION
Service sector constitutes nearly 50% of India’s
GDP.

 Rate of Growth higher at 7% viv-a-vis


Agriculture(2-3% ) and
Manufacturing sector(6-8%).

 It has a stable demand as against fluctuating


fortunes in case of
boom and recession in other sectors.

 Banks give franchise to others for providing


services to others.

 Require new marketing strategies and tactics to


survive and
Need for marketing :
1) It has more human element in it.

3) It needs a more fortified , cohesive and interactive


organization.

5) The personal touch and quality are more


important.

7) It is specific to customer and customer to be


treated as the king, his satisfaction is mandatory.
Features:
1) Banking products are intangible.

3) Suppliers and customers should have a rapport,


willingly understand each other and effective
communication.

5) Dominated by human elements and Quality


counts which varies from time to time, place and
customer to customer.

7) Immediately consumed and marketing and


operations are closely interlinked.

9) Branding and designing in a standardized manner


is not possible.
Banking Products:
1) Bank accounts

3) Deposits

5) Cards

7) Loans and mortgage

9) Insurance

11)Bonds & Investments

13)Forex , Stock and Commodity trade

15)i-banking and phone banking

9) Investment banking
Planning for MARKETING:
1) Product strategy or Product mix.

3) Pricing strategy or Cost factors.

5) Direct marketing and Personal selling.

7) Distribution strategy for NBFS including channels


of sevice flow.

9) Promotion of business strategy includes


emphasis and specialization areas where it has
competence and strategies for highlighting them
and divesting of the areas, where it is weak.
Ways of Marketing:
1) Telecalling

3) Newspaper advertisements

5) Personal Selling

7) Outlets , campaign and canopies

9) Pamphlets

11)Advertisement through agents, letters.

13)Mouth to mouth publicity.


Basic Bricks for Marketing
strategies
1) Customer focus

3) Capturing the growth opportunities

5) Successful discrimination

7) Innovativeness and management ability

9) Quality and Professionalism

11)Concept Selling
Prerequisites for Customer
satisfaction :
1) Identification of customer needs for financial and
non- financial services.

3) Develop appropriate plans and schemes for them.

5) Price them reasonably in a competitive spirit and


not on monopoly spirit. After sale service is
equally important.

7) Strategies for marketing through personal


contact, letters and agents in case of insurance.

9) Use of development officers, R&D and customer


based research for schemes and policies which
are innovative.
Challenges:
1) Deregulation

3) Advance information technology

5) Globalised markets and growing volumes of


financial transactions.

7) Volatility of the markets.

9) Increased customer demands

11)Sophistication of markets and customers.


Remedies:
1) Strengthening themselves by Mergers or
Diversifications.

3) They have to have a dynamic management


team, modified
value systems, suitable to demands of
customers and a
market thrust to meet the competition.

7) Need for diversification of product range.

9) Market responsive management and Customer


oriented services
Graph of all kind of services

Currency
6%
Bank deposits
PF/Retirement funds 39%
21%

Insurance
13%

Co
NB
Sh
Government

op
M

FC
a
ut

ba
re
bonds/Small Savings
u

's
s

n
al

ks
&

3%
13%
F

De
un

2%
be
ds

nt
2%

ur
es
1%