Marketing Mix in Banking Sector (ICICI bank) : Marketing Mix in Banking Sector (ICICI bank) Presented by
Sommanna.A INTRODUCTION : Services marketing are that elusive concept which stays incomplete without a thorough understanding of 7 Ps.
These form the critical success factors for any service as evaluated by a possible customer.
The following form the marketing mix for services marketing, the first 4 P’s being the core and the next 3 P’s being the extended marketing mix. INTRODUCTION 7P’S OF MARKETING MIX OF ICICI BANK : 7P’S OF MARKETING MIX OF ICICI BANK A. PRODUCT MIX : 1. DEPOSITS
Senior Citizen Services
ICICI Bank Tax Saving Bonds
Government of India Bonds
Investment in Mutual Funds
Initial Public Offers by Corporate
Investment in “Pure Gold” A. PRODUCT MIX Slide 6: 3. ANYWHERE BANKING
ICICI Bank is the second largest bank in the country.
This includes more than 500 branches and extension counters, over 1800 ATMs, Call Centre and Internet Banking.
a) Credit Card
b) Debit cum ATM Card
c) Travel Card Slide 7: 6. DEMAT SERVICES
Digitally signed transaction statement by e-mail.
Corporate benefit tracking.
e-Instruction facility – facility to transfer securities 24 hours a day, 7 days a week through Internet Interactive Voice Response (IVR) at a lower cost.
7. MOBILE BANKING
ICICI Bank offers Mobile Banking facility to all its Bank, Credit Card and Demit customers.
8. NRI SERVICES
ONLINE MONEY TRANSFER Slide 8: B.PRICING MIX
The pricing decisions or the decisions related to interest and fee or commission charged by banks are found instrumental in motivating or influencing the target market.
The RBI and the IBA are concerned with regulations.
The banking organizations are required to frame two- fold strategies.
First, the strategy is concerned with interest and fee charged and the second strategy is related to the interest paid. Slide 9: C.PLACE
The 2 important decision making areas are: making available the promised services to the ultimate users and selecting a suitable place for bank branches.
The number of branches OF ICICI: 1900 in India
LOCATION OF BRANCH:
Near Central Park,
Andhra Pradesh,India. Phone: 0877-2259518. Slide 10: LOCATION OF ATMS
RamBagicha-2, Temple Premises, Tirumala, TIRUPATINear: Lord Venkateswara Main Temple.
ICICI Bank Atm, V V Mahal Rd, Nr Yamaha Showroom, Tirupati
Advertising - Television, Radio, Movies.
Print media - Hoardings, Newspaper, Magazines.
Publicity - Road Shows, Campus Visits, Sandwich Man, Sponsorship. Slide 12: E.PEOPLE
Other Consumers often add significant value to the total product or service offering.
Flow of activities: All the major activities of ICICI banks follow RBI guidelines. There has to be adherence to certain rules and principles in the banking operations. The activities have been segregated into various departments accordingly.
Simplicity Slide 13: G.PHYSICAL EVIDENCE
The building itself
FINANCIAL AND OTHER INDICATORS
Employee dress code CONCLUSION : These says the importance of marketing mix in service sector , lacking of any element makes the service failure .
The ICICI bank is on the way of success as it have all the 7ps running together in one line. CONCLUSION REFERNCE : http://managementfunda.com/7ps-of-marketing mix-of-icici-bank.
ICICI bank vouchers.