Service Marketing

End-term Project
ICICI Bank- IIM Rohtak Branch

IIM Rohtak
Introduction/Overview

• ICICI Bank is India’s second largest bank in terms of market cap and assets

• ICICI has recently started its retail banking branch on the premises of IIM Rohtak

• This branch has been opened on a lease for 20 years

• Current employee strength is 4 and will increase based on expansion and scope

• The branch aims to cater to the banking needs of IIM Rohtak fee accounts, savings accounts for
residents of campus, credit card facility, salary accounts and loan facilties

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Branch Organization Structure

Zonal Head

Regional Head

District Head

Senior Manager

Branch Manager

Dy. Manager
IIM R Branch
Senior Clerk

Clerk

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Products/Services offered

A/c & Deposits Loans Cards

Savings Accounts Vehicle Loans Credit Cards

3-in-1 accounts Personal Loans Debit Cards
Salary Accounts Education Loans Forex Cards
Pension Accounts Home Loans

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Target Customers

Students Faculty & Staff Institution

• Student Savings A/C • Salary Accounts • Fee Handling Services

• Education Loan A/C • Personal & Vehicle Loans • Corporate A/C
• Demand Draft • Home Loans • Working Capital Loans
• Money Transfer • Saving A/C
• Credit Cards • Credit Cards

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Product Levels
Smartwatch Wearables
based customer experience
Core
ATMs Product/Service

Mobile Safety of funds

Banking e-banking Expected
Product/Service
Bank A/Cs, Credit
Cards, Cheque Flexibility
Book Augmented
Forex Product
Timely service
Tele-banking
Potential Product
Home loans

AI customer support

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 Service Blueprint
Creating a new account
Money
Physical Welcome Chairs/ Form/
Evidence
Counting
Counter Desk Brochure
Machine

Customer Interaction Fill form Make

Inquiry
Action with banker and submit Payment
Line of Interaction

Employee Guided to Give details

Enter Credit to
Action concerned of various
Details A/C
counter A/C Line of Visibility

Entry into
Background Payment
Activities
customer
credited
database

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 Service Blueprint
Issue of Credit Card
Physical Welcome Credit Card Credit Card
Evidence Counter Form Kit

Fill form Receive

Customer Wait for
Inquiry and attach Credit Card
Action Processing
documents Kit
Line of Interaction

Employee Explain Check

Document Provide kit
Action different documents
Verification to customer
credit card and enter Line of Visibility

Background Entry into Issue of

Activities system Credit Card

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 Service Blueprint
Internet Banking

View
Customer Access ICICI Input login Select Logout
Account
Action homepage credentials Account
Info
Line of Interaction

Employee Retrieve Present

Request Send Login
Action Account Account
Login info credentials
Info Info Line of Visibility

Validate Provide
Background End Session
Activities login Account
credentials Info

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Service Process Matrix
Degree of Labour Intensity

Service factory Service Shop

Hospitals
Theme Parks Car Repairs
Standard Hotels Spas
Airlines
Degree of Customization

Mass Service Professional Service

Schools Tour Guides

Retailing Banks
QSRs Instructors

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8 Ps
Product Price

Banks have to choose on important parameters while Price sets a value standard for the service which are
determining the product mix. perishable. Pricing strategy to manage staffing:
-Target Customers (Faculty/ Students) • Lifetime free credit cards
-Services to be given (Accounts, Loans, Credit Cards) • Min. Balance of Saving Accounts slashed to Rs.500

Place Promotion

Location where service is delivered plays a major role Promotion is how ICICI markets its services
• Branch is within 500m from all customers • Posters of offerings throughout campus
• ATM Facility • Setting up kiosks in dorm area/ faculty (planned)
• Internet Banking
• Provision to collect documents from apartment, if
required

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8 Ps
People Process

Customer service experience depends on the
person delivering it
All ICICI- IIM Rohtak Branch employees trained for
customer interaction at ‘ICICI Academy’
Standard operating procedure for delivering service
• Seamless process for account opening and
disbursal of loan
• Account Opening can be done online and instantly
• Education Loan through iSmart Mobile App

Physical Evidence Productivity & Quality

Includes Servicescape, physical facility where Also called Performance.
service is delivered. Includes: Measure how company’s service compete in market
• Branch premises ambience • Absence of full-service bank in 4-5 km vicinity
• Brochures of offerings • Personal Selling of products by bank officials in
• ATMs (ease of use) dorm area (planned)

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Dimensions of Service Quality

Tangibles High

Reliability High- Customers rely on the banking sector to secure their money

Responsiveness High- 200 accounts for the entire year

Assurance
High- Financial transactions are involved and trust is the key

Empathy
High- The motto of ICICI gives high importance to the needs of customers

IIM Rohtak
SERVQUAL Gaps
• Problems with Service
Intermediaries
• Time lag for approvals from
Service administration’s end
• Failure to match Supply and
Performance Demand
Gap • Inappropriate customer mix-
can only provide

Performance Gap Communication Gap

• Inadequate horizontal
communication
• Insufficient communication
between advertising and
Communicatio operations
n Gap • Ineffective management of
customer expectations
• Not managing and educating
customers through all forms
of communication
IIM Rohtak
• Reconsider the • Provide accurate
procedures followed information at point-of-
through service sale
intermediaries to • Increase touch points to
improve responsiveness facilitate communication
• Explore opportunities to • Describe how the service
have a diversified provided is improving
customer segment for
the situation
efficiency • Designing the Moments
of Truth
Employee Management
Employee’s Competence
• Training of 9 months at ICICI Manipal Academy for graduates with no banking experience
• On the basis of the designation, they look for hiring an outspoken/ professional branch manager
• Based on the branch location- For IIMs- a manager is chosen who is well aware of how things
function at ICICI and has a professional approach

Employee Motivation
• ICICI has an open culture and they empower their employees. There are get2gethers, annual
meetings, etc. and they call themselves as self-motivated
Policies and programs
• Code of conduct, norms for ethical behaviour, etc. - employees are bounded by various policies as
it involves financial matter of the customers
Incentives for Employees
• Employees are not incentivized for their work here as they believe it might cause discomfort or an
unpleasant experience to the customers

IIM Rohtak
Customer Management
Customers being incorporated into the operations
• Students of IIM Rohtak, Faculty staff members are expected to use the ATMs and kiosks for
the transactions

Skills required to do the job

• Visual and textual directions are provided in order to facilitate the customers to perform
the transactions with ease

Motivation for the Customers

• Fast and convenient transactions can be done as compared to the traditional way of going
for withdrawal slips or passbook printing

Performance Gaps
• This gap is controlled by using Instrumental Control in the form of minimum account
balance to avoid penalties and discounts for revenue generators

IIM Rohtak
Service Failure
Operational Failures-
Lack of cash in ATM
Bank initiated
Failures
Technical Failures-
Online portal crash

Employee Failure-
Service Failure Lack of knowledge,
communication gap,
impolite staff

Customer
Inability of E.g.- Incorrect
Customer
performing a OTP, Incorrect
Initiated Failure
particular account number
service

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Service Recovery Procedure

Registration of
Failure Context Recovery Attributes complaint

Customer care
Apology
Failure while Direct Interaction
making payment with Branch Official All the complaints
through online Explanation received in India
portal of the bank Bank’s Website must be lodged in
Finacle Customer
Compensation Relationship
Recording & tracking Management system
of complaints (FCRM) and assigned
Assurance to respective groups
Acknowledgement for resolution

Resolution

Principal Nodal officer

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Service Recovery

• Branch Level Customer Service Committee (MILAP): The Bank has constituted the Branch Level
Customer Service Committee (MILAP). MILAP acts as a forum to enable customers meet and interact
with the senior managers of the Bank

• The CSC (customer service council) shall meet on periodic basis to review service updates, ongoing
projects specifically targeted towards improvement of customer service

• Customer Service Index (CSI)- Periodic phone calls to the customer enquiring about the quality of
service offered and whether they will recommend that particular product/service further.

IIM Rohtak
 Challenges

• Inflexible timings of students, faculty and the administrative staff vis a vis
the working hours of ICICI Personnel leads to delay in migration/acquisition
to ICICI Products

• Administrative delays prevents ICICI from organizing customer

engagement activities

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Recommendations

1. Convert IIM Rohtak branch of ICICI to “8 to 8 Branch”

2. Roll out live projects for the students of IIM Rohtak to create product awareness and
achieve targets for which they will be offered incentives

3. Reconsider the procedure to approach the administration

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 Thank you

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