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A DETAILED STUDY OF MARKETINGSTRATEGIES FOR FINANCIAL PRODUCTS

OF A BANK

Submitted in the partial fulllment of the requirement for the award of the

degree of

BACHELORBACHELOROFOF

BUS!ESS A"#!S$RA$O!BUS!ESS A"#!S$RA$O!%&&'(%&)%%&&'(%&)%

Guidance of: Subi!!ed b":

M#$ P#a%&an! Sin'& B&ad&o#ia Ki#!i C&&ab#a

HO" *B+B+A "epartment, BBA -th Sem+

Roll !o+ ')')&

FACULTY OF MANAGEMENT & COMPUTERFACULTY OF MANAGEMENT & COMPUTER

APPLICATION.APPLICATION.

FACULTY OF MANAGEMENT & COMPUTER APPLICATIONS



(Dr. B.R. Ambedkar University, Agra)(Dr. B.R. Ambedkar University, Agra)

DECLARATION

I, KIRTI CHHABRA, student of GRADUATE DEGREE IN “BACHELOR OF

BUSINESS ADMINSTRATION” hereby declare that the project report entitled“A DETAIL STUDY OF MARKETING STRATEGIES FOR FINANCIAL

PRODUCTS OF A BANK” has been compiled by me on the basis of my projectreport and has not been submitted anywhere in any manner.

It is a report, which is based on various interviews, surveys that is conductedduring my project report period as a student of B.B.A. FACULTY OF

MANAGEMENT & COMPUTER APPLICATIONS. . (Dr B.R AMBEDKAR

UNIVERSTY AGRA.

KIRTI CHHABRA

Ro!! No."#"#$

FACULTY OF MANAGEMENT &

COMPUTER APPLICATIONS

2



ARKETING STRATEGIES FOR FINANCIAL PRODUCTS OF A BANK

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YEAR OF SUBMISSION 8 MAY 9$#9.



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A4*o:!1)0

;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;

A- + BBA -/1 fro0 FACULTY OF MANAGEMENT AND COMPUTER

APPLICATION , students are required to undertae a major individual piece of research wor! the "roject or #issertation. In contrast to the other elements of your programme, where you areguided fairly closely, the aim of the "roject is to give you the opportunity to learn independentlyand show that you can identify, define and analyse problems and issues and integrate nowledgein a business conte$t. T5+*- o 5'- BBA 3ro)r+0 to give me such opportunity.

%his is to acnowledge a sincere efforts of all the persons who helped me in development ofthis research project wor regarding I&I&I Ban on mareting strategies for financial productsof I&I&I Ban .I +0 5r6< )r+f/! o Mr. M+5-5 D-53+1 , Br+45 0++)r + ICICI B+* ' 5'-

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FACULTY OF MANAGEMENT & COMPUTER APPLICATION.FACULTY OF MANAGEMENT & COMPUTER APPLICATION.

((Dr. B.R. Ambedkar Universi!" A#ra$Dr. B.R. Ambedkar Universi!" A#ra$

CERTIFICATE

This is to certify that the project “A DETAIL STUDY OF MARKETING

STRATEGIES FOR FINANCIAL PRODUCTS OF A BANK” submitted by Kirti

Chhabra Roll No.91910 BBA VI th Semester (2009-2012 has worked

under the supervision of !r. "rasha#t Si#$h Bha%horia (&') B.B.A.

To the best of my knowledge the material involved in the project report

as collected by her own efforts.

Dr. Rajeev Sharma

(Dre!"#r$



)



T+6! of 4o- ;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;

CONTENTS @ P+) N/06r-

A4*o:!1)0>>>>>>>>>>>>>>>>>>>>>>9

Cr'f'4+ fro0 )/'1 (A331' 8I>>>>>>>>>>>>>>>.97A

T+6! of 4o- >>>>>>>>>>>>>>>>>>>>>>>.

#. Introduction* concept of mareting strategy + its types -----.. .9. I&I&I Ban *bacground , financial highlights ,recent developments ,ey growth drivers ,

overall businesses----------------------# . I&I&I ban * organi/ational structure----------------.#"

. I&I&I Ban management structure * Board of directors, senior management ,Board of

committee-------------------------.9#. 0 "s of 1areting for I&I&I Ban--------------- --99

. 1areting strategies of I&I&I Ban , maret!leaders, focus!areas of mareting efforts , basis of segmentation, nature of baning in India income!stratification + targetingstrategies -------------------------$

. &onverting potential to actual targets ----------------.

. I&I&I ban product portfolio , "roduct #ifferentiation + "roduct Augmentation, pricing-------------------------.

". #istribution strategy, &hannel strategy of I&I&I Ban--------

#$. "romotion strategy , Advertising, "ublic relations, ut!door activities ,ther Initiatives of I&I&I Ban----------------------- "

##. "eople, "rocess, "hysical evidence, "attern of remittance to India, rural baning pattern------------------------------..

#9. Business overview * 4conomic overview , financial sector overview of I&I&IBan--------------------------.#

#. "resence of foreign bans in India-----------------

#. Business segments + "roducts + 5ervices 6 segments performance analysis ,consolidated profit 7loss , ey financial indicators --------..

#. I&I&I Ban * geographic coverage , world!wide locations + offices---. #. 8inancial performance 6 Annual report highlights ---------"

#. 1areting strategy perspective even after recession 6 a research study--..

#. I&I&I Ban * 9rowth outloo : 1anagements + Analysts ;iewpoints And

rgani/ational e$cellence --------------#". 9rowth forecast * I&I&I 9roup -----------------.

9$. I&I&I Ban * 5<% Analysis-------------.

9#. =esearch methodology of I&I&I Ban, &anada --------...#

99. Bibliography-------.



0



T+6!->>!A* "ricing * I&I&I interest rate v7s that of 5BI30?F')/r-- 3.@ :rgani/ational structure of I&I&I Ban @? ).@ ! 5hare of consumption byincome stratification 32? ).2 ! %welve clusters covered by I&I&I Ban3'?

>.@! I&I&I Ban product portfolio3)?.@ * &hannel strategy 3>? 8ig @@.@ :"attern ofremittenances to India '(? @@.2 : &hanging the rural baning paradigm'0? 8ig @@.3 :=uralA%1s'>? 8ig @@.' : ioss as 1ulti!Activity centers at I&I&I Ban'?

@3.@. ow much business do foreign bans do now C'? 8ig @(.@!9lobal reach of I&I&IBan(>?



>



C5+3r #

INTRODUCTION @ CONCEPT OF MARKTING STRATEGY & ITS TYPES .

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INTRODUCTION

%he economic landscape has been fundamentally altered by technology and globali/ation.&ompanies anywhere can now compete anywhere, thans to the Internet and more free trade. %he major economic force is hyper!competition, namely companies are able to produce moregoods than can be sold, putting a lot of pressure on price. %his also drives companies to build inmore differentiation which is more of a psychological , not real. &ompanies must pay attention tothe fact that customers are getting more educated and have better tools such as the Internet at

their disposal to buy with more discrimination. "ower has been passing from the manufacturer tothe distributor, and now is passing to the customer. %he customer is ing.

CONCEPT OF MARKETING @

M+r*') '- So B+-'4 T5+ I C+o 6 Co-'1r1 + S3+r+ F/4'o. I '- 5 %5o!

B/-'-- S Fro0 5 C/-o0r- Po' of V': 8 "eter #rucer .

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-r2') 6- +1 ' 1-')- +1 3ro0o- 5 +33ro3r'+ 3ro1/4- +1 -r2'4-.

1areting is often performed by a department within the organi/ation. %his is both good and bad. Its good because it unites a group of trained people who focus on the mareting tas. Its bad because mareting activities should not be carried out in a single department but they should be manifest in all the activities of the organi/ation. In his(Ko!r ##5 1''o of 0+r*') 0++)0, he describes the most important concepts of mareting in the first chapter. %hey

are* -)0+'o, +r)'), 3o-''o'), 1-, :+-, 10+1, offr')-, 6r+1-, 2+!/+1 -+'-f+4'o, 45+), r+-+4'o-, r!+'o-5'3- +1 :or*-, 0+r*') 45+!-,

-/33!< 45+', 4o03''o, 5 0+r*') 2'ro0, +1 0+r*') 3ro)r+0-. %heseterms mae up the woring vocabulary of the mareting professional. 1aretings ey processesare* @? o33or/'< '1'f'4+'o, 2? : 3ro1/4 12!o30, 3? 4/-o0r +r+4'o,'? 4/-o0r r'o and !o<+!< 6/'!1'), and (? or1r f/!f'!!0. A company that handlesall of these processes well will normally enjoy success. But when a company fails at any one ofthese processes, it will not survive.





1areting is a terribly misunderstood subject in business circles and in the publics mind.&ompanies thin that mareting e$ists to support manufacturing, to get rid of the companys products. %he truth is the reverse, that manufacturing e$ists to support mareting. %he companycan always outsource its manufacturing. <hat maes a company is its mareting offerings andideas.

1areting is too often confused with selling. 5elling is only the tip of the mareting iceberg.<hat is unseen is the e$tensive maret investigation, the research and development ofappropriate products, the challenge of pricing them right, of opening up distribution, and ofletting the maret now about the product. %hus, 1areting is a far D1areting is not the art offinding clever ways to dispose of what you mae. 1areting is the art of creating genuinecustomer value. It is the art of helping your customers become better off. %he mareterEswatchwords are quality, service, and value.F more comprehensive process than selling. 1areting starts before there is a product. 1areting is the homewor the company does tofigure out what people need and what the company should mae. 1areting determines how tolaunch, price, distribute and promote the product7service offering in the maretplace. 1areting

then monitors the results and improves the offering over time. 1areting also decides when toend the offering.

All said, mareting is not a short!term selling effort but a long!term investment effort. <henmareting is done well, it occurs before the company maes any product or enters any maret6and it continues long after the sale.

B)'') of 0+r*') @

1areting started with the first human beings. Gsing the first Bible story as an e$ample but thiswas not the beginning of human beings?, we see 4ve convincing Adam to eat the forbiddenapple. But 4ve was not the first mareter. It was the snae that convinced her to maret to Adam.

1areting as a topic appeared in the Gnited 5tates in the first part of the 2Hth century in theteaching of courses having to do with distribution, particularly wholesaling and retailing.

4conomists, in their passion for pure theory, had neglected the institutions that help an economyfunction. #emand and supply curves only showed where price may settle but do not e$plain thechain of prices all the way from the manufacturer through the wholesalers through the retailers.5o early mareters filled in the intellectual gaps left by economists. evertheless, economics isthe mother science of mareting.

1areting is more of a craft and profession than an art form. %he A0r'4+ M+r*') A--o4'+'o +1 5 Br''-5 C5+rr1 I-'/ of M+r*') are independently woring on



@H



professional credentials for professional mareting. %hey believe that tests can be constructedthat can distinguish between qualified mareters and phony mareters. At the same time, many people will originate brilliant mareting ideas who are not trained mareters. Ingvar ampradwas not a mareter and yet his I4A company is phenomenally successful in bringing goodquality, low!cost furniture to the masses. &reativity is a big part of mareting success and is not

limited to mareters.

M'--'o of 0+r*') is to sell any and all of the companys products to anyone and everyone,to create products that satisfy the unmet needs of target marets, to raise the material standardof living throughout the world and the quality of life. 1aretings role is to sense the unfulfilledneeds of people and create new and attractive solutions.

%hus, 0+r*') 0/- 3!+< 5 !+1 ro! ' -5+3') 6/-'-- -r+)<.

CONCEPT OF MARKETING STRATEGIES @

M+r*') -r+)< specifies a target maret and a related mareting mi$. %he two interrelated parts are *A +r) 0+r*! a fairly homogenous group of customers to whom a company wishes toappeal.A 0+r*') 0'! consisting of the controllable variables the company puts together to satisfies

this target maret.

M+r*') -r+)< involves selecting and describing one or more target marets , anddeveloping and maintaining a mareting mi$ that will produce mutually satisfying e$changeswith target marets.

&4s tend to see mareting as a department that comes into play after the product has beenmade and the remaining job is to sell it. <e argue instead that mareting must be seen as settingthe strategic direction for the firm. "eter #rucer stated it well over thirty years ago* DAcompany has only two basic functions* innovation and mareting.F

Ko!r published lateral mareting co!author 8ernando %rias #e Bes? which offers a creativityapproach that differs from using vertical mareting i.e., segmentation? to finding new ideas.;ertical mareting wors within a given maret6 lateral mareting instead visuali/es the productin a new conte$t.

A/5or @ M'45+! Porr.



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&oncepts addressed include EgenericE strategies and strategies for pricing, distribution, promotion,advertising and maret segmentation. 8actors such as maret penetration, maret share, profitmargins, budgets, financial analysis, capital investment, government actions, demographicchanges, emerging technology and cultural trends are also addressed.

%here are two major components to your mareting strategy*

@. how your enterprise will address the competitive maretplace2. how you will implement and support your day to day operations

In todayEs very competitive maretplace a strategy that insures a consistent approach to offeringyour product or service in a way that will outsell the competition is critical. owever, in concertwith defining the mareting strategy you must also have a well defined methodology for the dayto day process of implementing it.

In the process of creating a mareting strategy, you must consider many factors.5ince eachcategory must address some unique considerations, it is not reasonable to identify EeveryEimportant factor at a generic level.owever, many are common to all mareting strategies.

Jou begin the creation of your strategy by deciding what the overall objective of your enterpriseshould be. In general this falls into one of fo/r categories*

• If the maret is very attractive and your enterprise is one of the strongest in the industryyou will want to invest your best resources in support of your offering.

• If the maret is very attractive but your enterprise is one of the weaer ones in theindustry you must concentrate on strengthening the enterprise, using your offering as astepping stone toward this objective.

• If the maret is not especially attractive, but your enterprise is one of the strongest in theindustry then an effective mareting and sales effort for your offering will be good forgenerating near term profits.

• If the maret is not especially attractive and your enterprise is one of the weaer ones inthe industry you should promote this offering only if it supports a more profitable part ofyour business for instance, if this segment completes a product line range? or if itabsorbs some of the overhead costs of a more profitable segment. therwise, you shoulddetermine the most cost effective way to divest your enterprise of this offering.

ne$t step is to choose a strategy for the offering that will be most effective in the maret.

• A &5% K4A#4=5I" 5%=A%49J is based on the concept that you can produce andmaret a good quality product or service at a lower cost than your competitors. %hese lowcosts should translate to profit margins that are higher than the industry average. 5ome of



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the conditions that should e$ist to support a cost leadership strategy include an on!goingavailability of operating capital, good process engineering sills, close management oflabor, products designed for ease of manufacturing and low cost distribution.

• A #I884=4%IA%I 5%=A%49J is one of creating a product or service that is perceived as being unique Lthroughout the industryL. %he emphasis can be on brand

image, proprietary technology, special features, superior service, a strong distributornetwor or other aspects that might be specific to your industry. %his uniqueness shouldalso translate to profit margins that are higher than the industry average. In addition,some of the conditions that should e$ist to support a differentiation strategy includestrong mareting abilities, effective product engineering, creative personnel, the ability to perform basic research and a good reputation.

• A 8&G5 5%=A%49J may be the most sophisticated of the generic strategies, in that itis a more EintenseE form of either the cost leadership or differentiation strategy. It isdesigned to address a LfocusedL segment of the maretplace, product form or costmanagement process and is usually employed when it isnEt appropriate to attempt anEacross the boardE application of cost leadership or differentiation. It is based on the

concept of serving a particular target in such an e$ceptional manner, that others cannotcompete. Gsually this means addressing a substantially smaller maret segment thanothers in the industry, but because of minimal competition, profit margins can be veryhigh.

Pr'4') @ A pricing strategy is mostly influenced by your requirement for net income and yourobjectives for long term maret control. %here are three basic strategies you can consider.

• A 5I11I9 5%=A%49JIf your offering has enough differentiation to justify a high price and you desire quick cash andhave minimal desires for significant market penetration and control, then you set your pricesvery high.

• A 1A=4% "44%=A%I 5%=A%49JIf near term income is not so critical and rapid market penetration for eventual market controlis desired, then you set your prices very low.

• A &1"A=ABK4 "=I&I9 5%=A%49JIf you are not the maret leader in your industry then the leaders will most liely havecreated a Eprice e$pectationE in the minds of the maretplace. In this case you can priceyour offering comparably to those of your competitors.

Pro0o'o- @ %here are two basic promotion strategies, "G5 and "GKK.

• %he "G5 5%=A%49J ma$imi/es the use of all available channels of distribution to

LpushL the offering into the maretplace. %his usually requires generous discounts toachieve the objective of giving the channels incentive to promote the offering, thusminimi/ing your need for advertising.

• %he "GKK 5%=A%49J requires direct interface with the end user of the offering. Gse ofchannels of distribution is minimi/ed during the first stages of promotion and a majorcommitment to advertising is required. %he objective is to LpullL the prospects into thevarious channel outlets creating a demand the channels cannot ignore.



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%here are many strategies for advertising an offering. 5ome of these include*• "roduct &omparison advertising

In a maret where your offering is one of several providing similar capabilities, if youroffering stacs up well when comparing features then a product comparison ad can be beneficial.

• "roduct Benefits advertising<hen you want to promote your offering without comparison to competitors, the product benefits ad is the correct approach. %his is especially beneficial when you haveintroduced a new approach to solving a user need and comparison to the old approachesis inappropriate.

• "roduct 8amily advertisingIf your offering is part of a group or family of offerings that can be of benefit to thecustomer as a set, then the product family ad can be of benefit.

• &orporate advertising<hen you have a variety of offerings and your audience is fairly broad, it is often beneficial to promote your enterprise identity rather than a specific offering.

D'-r'6/'o @

• n!premise 5ales involves the sale of your offering using a field sales organi/ation thatvisits the prospectEs facilities to mae the sale.

• #irect 5ales involves the sale of your offering using a direct, in!house sales organi/ationthat does all selling through the Internet, telephone or mail order contact.

• <holesale 5ales involves the sale of your offering using intermediaries or Lmiddle!menLto distribute your product or service to the retailers.

• 5elf!service =etail 5ales involves the sale of your offering using self service retailmethods of distribution.

• 8ull!service =etail 5ales involves the sale of your offering through a full service retail

distribution channel.

f course, maing a decision about pricing, promotion and distribution is heavily influenced bysome ey factors in the industry and maretplace. %hese factors should be analy/ed initially tocreate the strategy and then regularly monitored for changes. If any of them change substantiallythe strategy should be reevaluated

T5 2'ro0 @ 4nvironmental factors positively or negatively impact the industry and themaret growth potential of your product7service.

• 9overnment actions ! 9overnment actions current or under consideration? can support or detract from your strategy. &onsider subsidies, safety, efficacy and operational

regulations, licensing requirements, materials access restrictions and price controls.• #emographic changes ! Anticipated demographic changes may support or negatively

impact the growth potential of your industry and maret. %his includes factors such aseducation, age, income and geographic location.

• 4merging technology ! %echnological changes that are occurring may or may not favorthe actions of your enterprise.

• &ultural trends ! &ultural changes such as fashion trends and life style trends may or maynot support your offeringEs penetration of the maret



@'



T5 3ro-34- @%he characteristics of the prospects include• %he potential for maret penetration involves whether you are selling to past customers

or a new prospect, how aware the prospects are of what you are offering, competition,growth rate of the industry and demographics.

• %he prospectEs willingness to pay higher price because your offering provides a bettersolution to their problem.• %he amount of time it will tae the prospect to mae a purchase decision is affected by

the prospects confidence in your offering, the number and quality of competitiveofferings, the number of people involved in the decision, the urgency of the need for your offering and the ris involved in maing the purchase decision.

• %he prospectEs willingness to pay for product value is determined by their nowledge ofcompetitive pricing, their ability to pay and their need for characteristics such as quality,durability, reliability, ease of use, uniformity and dependability.

• Kielihood of adoption by the prospect is based on the criticality of the prospectEs need,their attitude about change, the significance of the benefits, barriers that e$ist to

incorporating the offering into daily usage and the credibility of the offering.

T5 Pro1/4 J Sr2'4- @ 8actors to consider include*• <hether some or all of the technology for the offering is proprietary to the enterprise.• %he benefits the prospect will derive from use of the offering.• %he e$tent to which the offering is differentiated from the competition.• %he e$tent to which common introduction problems can be avoided such as lac of

adherence to industry standards, unavailability of materials, poor quality control,regulatory problems and the inability to e$plain the benefits of the offering to the prospect.

• %he potential for product obsolescence as affected by the enterpriseEs commitment to

product development, the productEs pro$imity to physical limits, the ongoing potential for product improvements, the ability of the enterprise to react to technological change andthe lielihood of substitute solutions to the prospectEs needs.

• Impact on customerEs business as measured by costs of trying out your offering, howquicly the customer can reali/e a return from their investment in your offering, howdisruptive the introduction of your offering is to the customerEs operations and the costs toswitch to your offering.

• %he comple$ity of your offering as measured by the e$istence of standard interfaces,difficulty of installation, number of options, requirement for support devices, training andtechnical support and the requirement for complementary product interface

T5 4o03''o @It is essential to now who the competition is and to understand their strengths and weanesses.8actors to consider include*

• 4ach of your competitorEs e$perience, staying power, maret position, strength, predictability and freedom to abandon the maret must be evaluated.

Yo/r r3r'- @



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An honest appraisal of the strength of your enterprise is a critical factor in the development ofyour strategy. 8actors to consider include*

• 4nterprise capacity to be leader in low!cost production considering cost controlinfrastructure, cost of materials, economies of scale, management sills, availability of personnel and compatibility of manufacturing resources with offering requirements.

• %he enterpriseEs ability to construct entry barriers to competition such as the creation ofhigh switching costs, gaining substantial benefit from economies of scale, e$clusiveaccess to or clogging of distribution channels and the ability to clearly differentiate youroffering from the competition.

• %he enterpriseEs ability to sustain its maret position is determined by the potential forcompetitive imitation, resistance to inflation, ability to maintain high prices, the potentialfor product obsolescence and the Elearning curveE faced by the prospect.

• %he prominence of the enterprise.• %he competence of the management team.• %he adequacy of the enterpriseEs infrastructure in terms of organi/ation, recruiting

capabilities, employee benefit programs, customer support facilities and logistical

capabilities.• %he freedom of the enterprise to mae critical business decisions without undue influence

from distributors, suppliers, unions, creditors, investors and other outside influences.• 8reedom from having to deal with legal problems.

D2!o30 @

A review of the strength and viability of the product7service development program will heavilyinfluence the direction of your strategy. 8actors to consider include*

• %he strength of the development manager including e$perience with personnelmanagement, current and new technologies, comple$ projects and the equipment and

tools used by the development personnel.• "ersonnel who understand the relevant technologies and are able to perform the tass

necessary to meet the development objectives.• Adequacy and appropriateness of the development tools and equipment.• %he necessary funding to achieve the development objectives.• #esign specifications that are manageable.

Pro1/4'o @

%he following factors are considered*

• %he strength of production manager including e$perience with personnel management,current and new technologies, comple$ projects and the equipment and tools used by themanufacturing personnel.

• 4conomies of scale allowing the sharing of operations, sharing of production and the potential for vertical integration.



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• %echnology and production e$perience• %he necessary production personnel sill level and7or the enterpriseEs ability to hire or

train qualified personnel.• %he ability of the enterprise to limit suppliers bargaining power.• %he ability of the enterprise to control the quality of raw materials and production.

• Adequate access to raw materials and sub!assembly production.

M+r*') J -+!- @

8actors to consider include*• 4$perience of 1areting75ales manager including contacts in the industry prospects,

distribution channels, media?, familiarity with advertising and promotion, personal sellingcapabilities, general management sills and a history of profit and loss responsibilities.

• %he ability to generate good publicity as measured by past successes, contacts in the press, quality of promotional literature and maret education capabilities.

• 5ales promotion techniques such as trade allowances, special pricing and contests.• %he effectiveness of your distribution channels as measured by history of relations, the

e$tent of channel utili/ation, financial stability, reputation, access to prospects andfamiliarity with your offering.

• Advertising capabilities including media relationships, advertising budget, paste$perience, how easily the offering can be advertised and commitment to advertising.

• 5ales capabilities including availability of personnel, quality of personnel, location ofsales outlets, ability to generate sales leads, relationship with distributors, ability todemonstrate the benefits of the offering and necessary sales support capabilities.

• %he appropriateness of the pricing of your offering as it relates to competition, pricesensitivity of the prospect, prospectEs familiarity with the offering and the current maretlife cycle stage.

C/-o0r -r2'4- @

strength of the customer service function has a strong influence on long term maret success.8actors to consider include*

• 4$perience of the &ustomer 5ervice manager in the areas of similar offerings andcustomers, quality control, technical support, product documentation, sales andmareting.

• %he availability of technical support to service your offering after it is purchased.• ne or more factors that causes your customer support to stand out as unique in the eyes

of the customer.• Accessibility of service outlets for the customer.• %he reputation of the enterprise for customer service.

&onclusion *%wo of the most important assessments are described below.



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#. Co- o r 0+r* @ %his is an analysis of the factors that will influence your costs toachieve significant maret penetration. 8actors to consider include*

• Jour mareting strength.• Access to low cost materials and effective production.• %he e$perience of your enterprise.• %he comple$ity of introduction problems such as lac of adherence to industry standards,

unavailability of materials, poor quality control, regulatory problems and the inability toe$plain the benefits of the offering to the prospect.

• %he effectiveness of the enterprise infrastructure in terms of organi/ation, recruitingcapabilities, employee benefit programs, customer support facilities and logisticalcapabilities.

• #istribution effectiveness as measured by history of relations, the e$tent of channelutili/ation, financial stability, reputation, access to prospects and familiarity with youroffering.

• %echnological efforts liely to be successful as measured by the strength of the

development organi/ation.• %he availability of adequate operating capital.

9. Prof' 3o'+! @ %his is an analysis of the factors that could influence the potential forgenerating and maintaining profits over an e$tended period. 8actors to consider include*

• "otential for competitive retaliation is based on the competitors resources, commitment tothe industry, cash position and predictability as well as the status of the maret.

• %he enterpriseEs ability to construct entry barriers to competition such as the creation ofhigh switching costs, gaining substantial benefit from economies of scale, e$clusive

access to or clogging of distribution channels and the ability to clearly differentiate youroffering from the competition.

• %he intensity of competitive rivalry as measured by the si/e and number of competitors,limitations on e$iting the maret, differentiation between offerings and the rapidity ofmaret growth.

• %he ability of the enterprise to limit suppliers bargaining power.• %he enterpriseEs ability to sustain its maret position is determined by the potential for

competitive imitation, resistance to inflation, ability to maintain high prices, the potentialfor product obsolescence and the Elearning curveE faced by the prospect.

• %he availability of substitute solutions to the prospectEs need.•

%he prospectEs bargaining power as measured by the ease of switching to an alternative,the cost to loo at alternatives, the cost of the offering, the differentiation between youroffering and the competition and the degree of the prospectEs need.

• 1aret potential for new products considering maret growth, prospectEs need for youroffering, the benefits of the offering, the number of barriers to immediate use, thecredibility of the offering and the impact on the customerEs daily operations.

• %he freedom of the enterprise to mae critical business decisions without undue influencefrom distributors, suppliers, unions, investors and other outside influences.



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C5+3r 9

ICICI BANK @BACKGROUND, FINANCIAL HIGHLIGHTS, RECENT

DEVELOPMENTS ,KEY GRO%TH DRIVERS ,OVERALL BUSINESS.

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http*77www.researchandmarets.com7reports

A!0o1 r-+r45 5 f'+4'+! 3o:r5o/-(A!0o1 4+3'+! 0+r*- 32 L1 Indian equities

Co03+< 6+4*)ro/1 @ I&I&I Ban is the largest private sector ban + the second largest ban in the country in terms of assets. It is a pan!India player with around (H branches includingrecently acquired 5angli ban?. %he ban has boosted its overseas operations in the last threeyears and now has presence in @> countries either through subsidiaries or representativeoffices .%ogether with its subsidiaries , I&I&I Ban offers a complete spectrum of financial



@

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services + products ranging from commercial baning to investment baning , mutual fund toinsurance.

I&I&I has a very compelling growth story ahead of it as Indian economy continues to boom. %he

9#" growth in India has been an average >M for the last 3 years. Although I thin that themaret has some more downside left to it, if I were to build a new position in I&I&I, I would start buying here on dips maybe in one!thirds or one!fourths.

I2-0 R+'o+! @

I&I&I Ban will remain a one of the most fancied stocs among the investors who believe inIndias long!term growth story.

• =etail baning though slowed down will remain focus area for I&I&I Ban • 1assive scale up in international baning

• Innovate approach to tap potential in =ural + 514 sector • =obust non!interest income compensating for slower growth in et Interest Income• 5angli Ban acquisition will help the ban to improve &A5A deposits .

F'+4'+! H')5!')5-

R4 12!o30- @

• %he financial sector in the country is witnessing a rapid growth with emergence of aroundhalf a do/en financial conglomerates. A general trend towards deregulation of financialsector has played a major role in this process. %o control enterprise : wise ris , few of



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them lie I&I&I + 5BI have decided to introduce a structure of forming a holdingcompany.

• As per this plan I&I&I Ban has decided to transfer its holding in four subsidiariesICICI Pr/1'+! L'f I-/r+4, ICICI Lo06+r1 Gr+! I-/r+4, ICICI

Pr/1'+! A-- M++)0 Co + ICICI Pr/1'+! Tr/- to holding company

ICICI F'+4'+! -r2'4- ( IFS.• %he ban currently holds 0' M each of two insurance companies + (@ M each of I&I&I

A1& + I&I&I %rust. nce approved by regulators I&I&I Ban intends to transfer theseinvestments to I85 at boo value in the boos of I&I&I Ban.

• ICICI Pr/1'+! is a maret leader among private sector insurer in the country with amaret share of 2( M on the basis of weighted received new business premium in April!1ay 2HH0.5imilarly, ICICI Lo06+r1 is the largest private general insurance company inthe country with a maret share of about 32M among private sector general insurance +overall maret share of about @2 M during April!1ay 2HH0.As on Nune 2HH0 ,ICICI

AMC was among the top two A1&s in India with AG1 of about =s. ,$ 4ror.

• %he ban has received a firm commitment for (.H M stae in in I85 from foreign

investors at R-. 9$ 4ror valuing I8I5 at US ## 6'!!'o .

B+*') -4or @ 6'))- 6f'4'+r< of I1'+ Gro:5 Sor<

Indian growth is supported by four important pillars, namely domestic consumption, infra!structure + cape$ boom , competitiveness emanating from silled manpower + cost arbitrage +economic liberali/ation . Aggressive players lie I&I&I Ban which have identified futuregrowth triggers + have geared up their machinery to tae advantage of this positive environmentare liely to derive ma$imum benefit.%he ban will be able to utili/e =s. 2H,HHH crore it has raised through recent follow!on public

offer 8"? for its aggressive core business e$pansion. %he bans management has indicatedthat the pace of growth in the economy as well as bans business in the past few years isunprecedented + the amount raised through 8" will address the increased capital requirementsfor the bans for the ne$t three years.

K< )ro:5 1r'2r-

ICICI B+* was among the first to recogni/e the opportunity presented by the retail maret + became maret leaders across the spectrum of the retail products. Anticipating slow!down in itsretail business activities in time, the ban has concentrated on diversifying its business portfolioin the areas of international baning , 514s + rural + agri lending. 8or all these areas the ban

has adopted aggressive approach. In longer run , the ban wants each of these businesscontribute significantly towards its overall business .

R+'! B+*') @7

%hough it is e$pected that there will be slow down in retail baning activities because of increasein interest rates 6 it will still grow at a healthy pace of around 2( M.=etail credit in India is stillunder penetrated + will remain as a most attractive sector for bans as Indian economy is liely



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to maintain its strong growth over the ne$t few years. %he consuming class + its disposableincome will continue to grow. %his activity will act as a significant growth driver for I&I&IBan. =etail loan portfolio constitutes )( M of its total loans as on 8J H0 with customer base ofmore than 2( million.

Ir+'o+! B+*') @7%he ban identified international baning as a ey opportunity + has made significant progressin the past three years .%oday the ban has wholly!owned subsidiaries , branches +representative offices in @> countries , + an offshore baning unit in 1umbai with aninternational balance sheet of little over O@ billion. %he ban is betting big on merger +acquisition advisory + financing. In calendar year 2HH0 thus far, the ban participated in 0 M of outbound 1+ A in terms of value of deals against (3M in 2HH).%he outbound deals in 2HH0 thusfar stood at O@).(3 billion. %he ban has started undertaing the investment baning subsidiaryI&I&I securities. %hese enables the ban to fund these transactions as the ban has the balancesheet to support such funding. At the same time it is leveraging its strong technological platformto serve the demand for baning services from the large Indian #iaspora.



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C5+3r

ICICI BANK @ ORGANIATIONAL STRUCTURE

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Or)+'+'o -r/4/r @

F') .# 8Or)+'+'o+! -r/4/r of ICICI B+*.



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I&I&I Ban structure is designed to be fle$ible + customer!focused to ensure effective control +supervision + consistency in standards across the organi/ations .%he organi/ation structure isdivided into following 3r'4'3! )ro/3- *

• &orporate &entre, comprising financial reporting 6 planning + strategy 6 asset + liabilitymanagement 6 investor relations 6 secretarial 6 corporate communications 6 rismanagement 6 compliance6 internal audit 6 legal 6 financial crime prevention + reputationris management 6 + the bans proprietary trading operations across various marets.

• =etail baning group , comprising the retail liabilities , retail assets + small enterprises businesses.

• =ural, 1icro!baning + Agri!business 9roup, comprising the rural + agriculturallending + other baning businesses.

• <holesale Baning 9roup , comprising the corporate + investment baning + projectfinance + 9ovt. baning businesses.

• International Baning group , comprising the bans international operations , includingoperations in various overseas marets as well as products + services for non!residentIndians , International trade finance, corresponding baning + wholesale resourcemobilisation.

• 9lobal 1arets 9roup , comprising our global client!centric treasury operations.• 9lobal perations + 1iddle office 9roups ,which are responsible for bac!office

operations , control + monitoring of our domestic + overseas operations.• %he uman =esources 1anagement 9roup is responsible for the Bans recruitment,

training + leadership development + other personnel management functions +initiatives.

• %echnology 1anagement 9roup %19? is responsible for enterprise!wide technologyinitiatives, with dedicated technology teams serving individual business groups +managing information security + shared infra!structure.

• %he 8acilities 1anagement + Administration 9roup is responsible for management ofcorporate facilities + administrative support functions.

• %he rgani/ational 4$cellent 9roup is responsible for enterprise!wise quality + processimprovement initiatives.



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C5+3r ICICI BANK MANAGEMENT STRUCTURE @BOARD OF DIRECTORS, SENIOR

MANAGEMENT ,BOARD OF COMMITTEE

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A/+! r3or- & +44o/- 9$$79$$ 3+)

C5+3r

PS OF ICICI BANK

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http*77www.sharetermpapers.com7inde$.phpCactionPlogin2

PS OF MARKETING FOR ICICI BANK

#Pro1/4 M'

! #eposits ! Investments ! Anywhere Baning ! Koans ! &ards ! #emat 5ervices ! 1obile Baning! =I 5ervices9Pr'4') M'

P!+4 ! Kocation of Branchs ! Kocation of A%1EsPro0o'o M'

Pro4--

P5<-'4+! E2'14-

Po3!



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PRODUCT MI

#. DEPOSITS

ICICI B+* offr- :'1 2+r'< of D3o-' Pro1/4- o -/' o/r r/'r0-. Co/3!1 :'54o2'4 of :or*1 6r+45-J o2r #$$ ATM- +1 f+4'!'< of E745+!- !'*

Ir +1 Mo6'! B+*'), ICICI B+* 6r')- 6+*') + <o/r 1oor-3.

S+2')- A44o/@ I&I&I Ban offers a power paced 5avings Account with a host of convenientfeatures and baning channels to transact through.

S'or C'' Sr2'4-@ %he 5enior &iti/en 5ervices from I&I&I Ban has several advantagesthat are tailored to bring more convenience and enjoyment in your life.

Yo/) S+r-@ ItEs really important to help children learn the value of finances and money

management at an early age. Baning is a serious business, but we mae baning a pleasure andat the same time children learn how to manage their personal finances.

F'1 D3o-'-@ 5afety, 8le$ibility, Kiquidity and =eturnsQQQQ A combination of unbeatablefeatures of the 8i$ed #eposit from I&I&I Ban.

R4/rr') D3o-'-@ %hrough I&I&I Ban =ecurring #eposit you can invest small amounts ofmoney every month that ends up with a large saving on maturity. 5o you enjoy twin advantages!affordability and higher earnings.

Ro+0') C/rr A44o/@ nly =oaming &urrent Account from I&I&I Ban travels the

distance with your business. Jou can access your accounts at over (HH networed branchesacross the country.

B+* C+03/-@ %hans to banRcampus, child can now surf the et and access all thedetails of his 7 her account at the clic of a mouseQ o need to visit the ban branch at all.

ICICI B+* S+!+r< A44o/@ is a benefit!rich payroll account for 4mployers and 4mployees.As an organi/ation, you can opt for our 5alary Accounts to enable easy disbursements of salariesand enjoy numerous other benefits too.

9. INVESTMENTS

A!o) :'5 D3o-' 3ro1/4- +1 Lo+ offr')-, ICICI B+* +--'-- <o/ o 0++) <o/r

f'+4- 6< 3ro2'1') 2+r'o/- '2-0 o3'o- -/45 +-@

I&I&I Ban %a$ 5aving Bonds9overnment of India BondsInvestment in 1utual 8unds



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Initial "ublic ffers by &orporateInvestment in L"ure 9oldL8oreign 4$change 5ervices5enior &iti/ens 5avings 5cheme, 2HH'

. ANY%HERE BANKINGICICI B+* '- 5 -4o1 !+r)- 6+* ' 5 4o/r<. It services a customer base of morethan ( million customer accounts through a multi!channel access networ. %his includes morethan (HH branches and e$tension counters, over @>HH A%1s, &all &entre and Internet Baning.

T5/-, o 4+ +44-- 5 2+r'o/- -r2'4- ICICI B+* 5+- o offr + +<'0,

+<:5r +1 fro0 +<3!+4.

. LOAN

a? ome Koans b? "ersonal Koansc? &ar Koans

d? %wo <heeler Koanse? &ommercial ;ehicle Koansf? Koans against 5ecuritiesg? 8arm 4quipment Koansh? &onstruction 4quipment Koansi? ffice 4quipment Koans j? 1edical 4quipment Koans

. CARDS

a? &redit &ard

b? #ebit cum A%1 &ardc? %ravel &ard

. DEMAT SERVICES

I&I&I Ban #emat 5ervices boasts of an ever!growing customer base of over 0 lacs accountholders. In their continuous endeavor to offer best of the class services to our customers we offerthe following features*#igitally signed transaction statement by e!mail.&orporate benefit tracing.e!Instruction facility ! facility to transfer securities 2' hours a day, 0 days a wee throughInternet Interactive ;oice =esponse I;=? at a lower cost.

#edicated specially trained customer care e$ecutives at their call centre, to handle all queries.

. MOBILE BANKING

<ith I&I&I Ban, baning is no longer what it used to be. I&I&I Ban offers 1obile Baningfacility to all its Ban, &redit &ard and #emat customers. I&I&I Ban 1obile Baning enablesyou to ban while being on the move.



2



. NRI SERVICES

KI4 14J %=A584= facility available to =Is worldwide throughwww.money2India.com at the clic of a buttonQ

Bf'-@8=44 1oney transfers into accounts with over 3H bans in India#emand #rafts issued and payable at over @2(H locations in IndiaKI4 %racing of the status of your funds5G"4=I= 4$change rates88KI4 14J %=A584= facility is also available across geographies throughour local branches and in association with partner bans7 e$change houses.

PRICING MI

%he pricing decisions or the decisions related to interest and fee or commission charged by bansare found instrumental in motivating or influencing the target maret.

%he =BI and the IBA are concerned with regulations. %he rate of interest is regulated by the =BIand other charges are controlled by IBA.

%he pricing policy of a ban is considered important for raising the number of customers vis!S!vis the accretion of deposits. Also the quality of service provided has direct relationship with thefees charged. %hus while deciding the price mi$ customer services ran the top position.

%he baning organi/ations are required to frame two! fold strategies. 8irst, the strategy is

concerned with interest and fee charged and the second strategy is related to the interest paid.5ince both the strategies throw a vice! versa impact, it is important that bans attempt toestablish a correlation between two. It is essential that both the buyers as well as the sellers havefeeling of winning.

O6-r2+'o- @7

#. %5+ r+ 1o- 5 6+* 1 o 0 '- f'+4'+! o6=4'2-

%he answer is, Dit depends.F5ome considerations for loan and deposit pricing are*

=A or =4 objectives=elated income ta$es4arning assets to total assets4quity!to!asset ratio&ost to service earning assets being funded or deposits funding an earning asset"ricing for the activities and riss associated with the product=ate tiers based on product balancesAsset and liability mi$



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Another element to consider in the pricing of earning assets is the ris of loss. 1ost notably, thisis relevant in loan pricing. 1any bans assign a ris weighting to individual loans over a certainsi/e or based on loan type and assign a credit ris charge based on those ratings.

&ustomer relationships are difficult to assign a value to in the pricing process. &ustomers willgenerally press for some price concessions in consideration of other relationships they have withthe ban.

Asset and liability mi$ also impacts pricing results. 9enerally speaing, bans operating withhigher loan!to!asset ratios are able to afford to pay more for deposits. Kiewise, bans canafford to be more competitive on certain deposit products if they have fewer maturities in a particular timeframe or less total outstanding balances in a product line.

9. %5+ '- 5 0+r* r+ for 5 4or 3ro1/4

&ustomers have more distribution channels available to them today than at any other point inhistory. In the past @H years, the number of ban locations has increased 2HM. f course, thereare the mortgage baners, the Internet, and a host of other financial service providers competingfor your customers loan and deposit business.

%he point is, the competitive maretplace always ensures that if a financial institution is chargingtoo much for loans or paying too little for deposits, its share of the maret will liely dwindle ase$isting and prospective customers find alternative providers. Jou can do all the math you wantto determine required pricing points, but if your pricing is uncompetitive, your maret share willshrin.

. %5+ :o/!1 5 6+* 5+2 o 1o o -+!- +1 o3r+'o- o 0+* '- r+- 5 0o-

4o03''2 ' '- 0+r*

"ricing is a ey issue for the associates who sell ban products to your customers. %he fact is,lenders want the lowest rates, and people dealing with depositors want to pay the highest rates.Jou need the right balance of fee income, strategies to reduce operating costs, and a healthy assetand liability mi$ to change your required pricing.

PLACE

%his component of mareting mi$ is related to the offering of services. %he services are soldthrough the branches.



3@



%he 2 important decision maing areas are* maing available the promised services to theultimate users and selecting a suitable place for ban branches.%he number of branches 8 I&I&I* @HH in India and 33 in 1umbai.

LOCATION OF BRANCH@

5hivam 5hopping &entre, 5.;.=oad,pp. ew 4ra &inema, 1alad <?, 1umbai.1G1BAI , 'HHH)'.

LOCATION OF ATMS@

1alad subway<ith branch1indspacerlem=aheja township

%5< 5< -!4 5'- 3!+4 +- 6r+45

%he selection of a suitable place for the establishment of a branch is significant withthe view point of maing place accessible.%he safety and security provisions a&onvenient to both the parties, such as the users and the banersInfrastructure facility ear to station and located on s. v. road well crowded area.1aret coverage

PROMOTION MI

Advertising* %elevision, radio, movies, theatres"rint media* hoardings, newspaper, maga/ines"ublicity* road shows, campus visits, sandwich man, 5ponsorship5ales promotion* gifts, discount and commission, incentives,etc."ersonal selling* &ross!sale selling at competitors place?,personali/ed service%elemareting* I&I&I one source &all center mind space?

PROCESS

F!o: of +4'2''-@ all the major activities of I&I&I bans follow =BI guidelines. %here has to be adherence to certain rules and principles in the baning operations. %he activities have beensegregated into various departments accordingly.



32



S+1+r1'+'o* I&I&I ban has got standardi/ed procedures got typical transactions. In factnot only all the branches of a single!ban, but all the bans have some standardi/ation in them.%his is because of the rules they are subject to. Besides this, each of the bans has its standardforms, documentations etc. 5tandardi/ation saves a lot of time behind individual transaction.

C/-o0'+'o@ %here are specialty counters at each branch to deal with customers of a particular scheme. Besides this the customers can select their deposit period among the availablealternatives.

N/06r of -3-@ numbers of steps are usually specified and a specific pattern is followed tominimi/e time taen.

S'03!'4'<* in I&I&I bans various functions are segregated. 5eparate counters e$ist with clearindication. %hus a customer wanting to deposit money goes to Tdeposits counter and does notmingle elsewhere. %his maes procedures not only simple but consume less time. Besidesinstruction boards in national boards in national and regional language help the customers

further.

C/-o0r '2o!20@ A%1 does not involve any ban employees. Besides, during usual ban transactions, there is definite customer involvement at some or the other place because of themoney matters and signature requires.

PHYSICAL EVIDENCES

P5<-'4+! 2'14 '- 5 0+r'+! 3+r of + -r2'4. 5trictly speaing there are no physical

attributes to a service, so a consumer tends to rely on material cues. %here are many e$amples of physical evidence, including some of the following*Internet7web pages"aperworBrochures8urnishingsBusiness cards%he building itself such as prestigious offices or scenic headquarters?

%he physical evidences also include signage, reports, punch lines, other tangibles, employeesdress code etc.

S')+)@ each and every ban has its logo by which a person can identify the company. %hussuch signages are significant for creating visuali/ation and corporate identity.

F'+4'+! r3or-@ %he &ompanys financial reports are issued to the customers to emphasis orcredibility.



33



T+)'6!-@ ban gives pens, writing pads to the internal customers. 4ven the passboos,chequeboos, etc reduce the inherent intangibility of services.

P/45 !'-@ punch lines or the corporate statement depict the philosophy and attitude of the ban. Bans have influential punch lines to attract the customers.

E03!o<- 1r-- 4o1@ I&I&I ban follows a dress code for their internal customers. %hishelps the customers to feel the ease and comfort.

THE PEOPLE

All people directly or indirectly involved in the consumption of baning services are animportant part of the e$tended mareting mi$.nowledge <orers, 4mployees, 1anagement and other &onsumers often add significant valueto the total product or service offering.

It is the employees of a ban which represent the organisation to its customers.

In a ban organi/ation, employees are essentially the contact personnel with customer. %herefore,an employee plays an important role in the mareting operations of a service organisation.

%o reali/e its potential in ban mareting, I&I&I become conscious in its potential in internalmareting ! the attraction, development, motivation and retention of qualified employee!customers through need meeting job!products. Internal mareting paves way for e$ternalmareting of services. In internal mareting a variety of activities are used internally in an active,mareting lie manner and in a coordinated way.

%he starting point in internal mareting is that the employees are the first internal maret for theorgani/ation.

%he basic objective of internal mareting is to develop motivated and customer consciousemployees.

A service company can be only as good as its people. A service is a performance and it is usuallydifficult to separate the performance from the people.

If the people dont meet customersE e$pectations, then neither does the service. %herefore,

investing in people quality in service business means investing in product quality.



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C5+3r

MARKETING STRATEGIES OF ICICI BANK , MARKET7LEADERS , FOCUS7AREAS

OF MARKETING EFFORTS , BASIS OF SEGMENTATION , NATURE OF BANKING

IN INDIA (INCOME7STRATIFICATION & TARGETING STRATEGIES

;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;

M+r*') -r+)< of ICICI B+* *

• Indias second largest ban • )@' branches and e$tension counters• 22HH A%15• Biggest private sector ban in India• 1ost valuable ban in India in terms of maret capitali/ation

• #escribed by the competitors and industry e$pert in one word : “A))r--'2”

F'r- ' 5 I1/-r<

. Introduced concept of branding in the Indian baning industry

. "rocess, "eople and "hysical evidence : brought to life by I&I&I

. "roduct Innovation : "ut the Tcustomer first in the true sense



3(



. &ash on the celebrity fever : Introduced the concept of brand ambassadors

. Introduction of #5As and #5%s

. Gnleashed the power of the internet : introduced the concept of net baning and e!mailmareting

. 8irst ban to focus on retail baning as a driver for growth

. &omprehensive data centre availability + data protection solutions

In effect : changed and shaped the Indian Baning Industry

Fo4/- +r+- of 0+r*') ffor-

. %arget mareting and customer acquisition

. 5hare of wallet

. &hannel strategy and management

. =elationship management and database mareting

. "roduct development + innovation

. &redit approval

B+-'- for -)0+'o

. ccupation#ifferent products for different occupational segment identified. Income

1inimum balance serves as a income segment barrier . 9eographical

&oncentrated on %ier @ + %ier 2 &ities trying to e$tend reach. Age

#ifferent products lie student account



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N+/r of 6+*') ' I1'+ Baning in India was focused on upper income group.F') .#7 S5+r of 4o-/03'o 6< '4o0 -r+'f'4+'o



30





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.

T+r)')

D'ffr'+1 M+r*') -r+)< :

. %ailors its mareting campaigns to meet the needs of its target prospects. &reates differentiated product offering for different segment

. Gse of technology in tracing customer segment

"resentation on I&I&I Ban for internal use of employees : mareting strategies of I&I&IBan *5partans?

F') .9 8 T:!2 4!/-r- 4o2r1 6< ICICI B+*



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C5+3r

CONVERTING POTENTIALS TO ACTUAL TARGETS

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Co2r') 3o'+!- o +4/+!@

3 steps assessments for target customer is followed *• 9o :o 9o criteria• 5coring model• &omprehensive assessment.

Po-''o') @

. &ore proposition : Tum hain na : trust, credibility, total financial solution providerbrought about through its cross selling effort?

. 1oderni/ation : process and physical evidence : technology as the bacbone andaccelerator

C+2+

. I&I&I ban is absolute appalling. %heir slogan of Dum hain naF is very apt, only that itapplies to their customers i.e. us poor mortals?. um hain na +++ to ban with I&I&I.

. I&I&I ban the most ama/ing ban with a punch line as Dum ain aF, i thin they

mean F um hain ! !na not available?F. 4arlier I was with I&I&I? I must say they roc6 very good ban with great customer

support.

N1 '1'f'4+'o @

. Adapting international practices to the local conte$t

. Information system warehouse

. "roduct development department : continuously studies maret and analyses competitivelandscape



'@



C5+3r

ICICI BANK PRODUCT PORTFOLIO , PRODUCT7DIFFERENTIATION & PRODUCT7

AUGMENTATION & PRICING .

;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;

PRODUCT 8 PORTFOLIO @

F') .#7 ICICI B+* 3ro1/4 3orfo!'o

Product Differentiation :

;ariants in various basic products lie savings ban accounts to suit different customer base andcustomer needs Product Augmentation :

=edefinition of the baning products with e$tra benefits and features added to the products

Creating concepts :

"roducts + &oncepts----.in the form of C+-5 6+4*, 4ro-- -!!'), -!!') )o!1, 4o7

6r+1'), !o+- o 4r1' 4+r1-, 6+!+4 r+-fr ,

Pricing :

. "enetrative pricing aimed at achieving large maret share

. "hilosophy of profit through volume

. 4ffort to drive out competition

. "rice leader in retail baning product

. Aggressive pricing facilitated through low cost of fund acquisition



I&I&I BA

Pr-o+! 6+*')

#eposits ,Koans

Investments ,&ards Insurance#emat servicesnline services

NRI B+*')1oney transfer Ban accounts

Investments"roperty solutions

InsuranceKoans

Cor3or+ B+*')&orporate net baning&ash management%rade services%rade way

8ore$ online 514 services

'2



D/r+'o Ir- r+ (Q 3.+.SBI

Ir- r+ (Q3.+.

ICICI

0 to @' days .$ .

@( days + upto '( days . .

') days + upto @0 days .9 .$$

@>H days to less than @ year .9 .$

@ year to less than 3 years . .#

3 years to less than ( years .$$ .9

( years + upto @H years .9 #$.$"

T+6! 7A@ Pr'4') @ ICICI 'r- r+ 2J- 5+ of SBI



'3



C5+3r "

DISTRIBUTION STRATEGY & CHANNEL STRATEGY OF ICICI BANK

;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;

DISTRIBUTION STRAT!" :

. &ross selling of products as a major area of focus

. &reation of concept of #5A #irect 5elling Agent?

. &reation of concept of #5% #irect 5elling %eam?

. 4ffort on the part of the ban to reach the customer rather than waiting for the customer

. Gse of internet, mobile, A%1s and other technological device to reach and serve thecustomers

CHANNEL STRATEGY @

R17Br+45

B!/7 ATM

Gr 8C+!! 4r-

V'o!7 Ir

Y!!o:7COPS

F') ".# @ C5+! -r+)< of ICICI B+*



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C5+3r #$

PROMOTION STRATEGY, ADVERISING , PUBLIC RELATIONS , OUT7DDOR

ACTIVITIES, OTHER INITIATIVES OF ICICI BANK .

;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;

According o Mr. A!2' S'!* , professor at arvard Business 5chool , advertising agencies havetraditionally offered services to firms that couldnt afford or didnt find value in having thate$pertise in!house. But a recent study indicates more firms than previously thought aredeveloping internal advertising units.( & A @ A!2' S'!* 6< S+r+5 + G'!6r ,O4 #,9$$

Pro0o'o -r+)'- for ICICI B+* +r !'-1 +- fo!!o:')- @7

PROMOTION STRATEGY @

• &orporate branding• "roduct branding

Br+1@ r-/! of 4/-o0r 'r+4'o-

As Brand e$ists in the customers mind, Brand is entirely the product of customer e$periences.4very ind of interaction with the customer that they can relate to our brand name leaves behindsome perception that contributes to, or detracts from Brand. ence, every interface between ourcompany and the customer is a medium for building Brand.

PRODUCT PROMOTION *

. Aimed at generating sales

. &ommunicates product features and benefits

. 1ainly through print media

. "oint of purchase promotion tools for different products to reach the relevant customersegment



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AD#RTISIN! :

F') @ A 4o/3! r ICICI 6+* +r -r21 4off +- 5< :+' o o3 + +44o/ .

PUB$IC% R$ATIONS :

"urpose ! %o deliver communication that is uniform in its message and yet customised forspecific target audiences

. 1edia relations/ "ress conferences/ "ress =eleases/ @!@ interviews

. Investor relations

. Analyst relations

. 9overnment relations

OUT%DOOR ACTI#ITIS :

eed to be seen-everywhereQQ

. 4vents at corporate campus

. "romotional material at channel partner outlets

. Billboards



')



. 5ignages

. ioss in residential and commercial comple$es

OT&R INITIATI#S :

. In!film promotions 7 B+)56+

. &o!Branding Initiatives/ Alliance with Amway India for launch of the international credit card. %he card

will enable Amway distributors to purchase Amway products and earn andredeem reward points

/ Indian =ailways &atering And %ourism #evelopment &orporation, in conjunctionwith I&I&I Ban, announced the launch of mobile payments and ticeting system,offering I=&%& customers to boo railway ticets via 515 and mae paymentsthrough their I&I&I Ban accounts



'0



. &ross brand associations ! acquiring databases of high net worth clientele of lifestyle products * %ie!up with T<oven ues

. Joung 5tars Account : "romotion through tie!up with &artoon etwor, and in!series

promotion through %om + Nerry. 5eminars in partnership with media channels



'>



C5+3r ##

PEOPLE, PROCESS, PHYSICAL EVIDENCE, PATTERN OF REMITTANCE TO

INDIA, RURAL BANKING PATTERN.

;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;

POP$ :

. Orientation to'ards customer ser(ice

. Di(ision of S)* Persona+ Ban,ing and ot-er functions at t-e .ranc- +e(e+

. ffort to'ards pro(iding sop-isticated and modern image of t-e .an, t-roug- its

peop+e

PROCSS:

. Gse of technology for both internal and e$ternal processed

. "rocess are system driven and independent of the people handling it

. 5tandardi/ation of service across the branches

. 4$tensive investment in software solutions for process systemi/ation



'



P&"SICA$ #IDNC *

. Ambience in the branch which projects moderni/ation and sophistication

. &onsistency across branches in construction ambience etc.



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F') ##.# 8P+r of r0'+4- o I1'+



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I&I&I discovered that, in India, there is a large untapped rural maret which lacs awarenessof financial services as well as convenient access to remittance delivery services. %o service

this maret, I&I&I faced two challenges*

@? #esigning a tailored product specific to these customers.2? "roviding them with easy access to funds.

I&I&I launched a pilot program in si$ villages in the southern state of %amil adu %?. % wasselected for the pilot due to its status as one of the largest receivers of remittances in Indiaand because I&I&I has a wide distribution networ in the area.

%he objective of the pilot was to offer remittance services to rural clients who receiveremittances as well as to provide them with financial literacy services. %he vehicle forachieving this goal was introducing low!cost A%1s and rural ioss.

F') ##.9 8 C5+)') 5 r/r+! 6+*') 3+r+1')0



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P5+- #@ D-')') +1 S'03!'f<') A44-- 2'+ T45o!o)<

R/r+! ATM-

5ince I&I&I Ban has a strong branch distribution networ in %amil adu, a low!cost A%1

networ was deemed to be an ideal solution for the delivery of remittance funds. %hedevelopment of this A%1 was a joint venture with the Indian Institute of %echnology, 1adras,and had already been pilot tested.F') ##. 8R/r+! ATM-

C+-5 A) Mo1!

%his model was piloted via e$isting Internet ioss that were present in local I&I&I centers andowned by local entrepreneurs. %hese ioss used Internet connectivity through <ireless KocalKoop <KK? technology. In this pilot program, the ioss were converted into cash agents and

ios owners became distributors of remittance funds to the rural public.%he ios owner maintains a woring capital of appro$imately G5O@HH. %here are numerouschecs and balances from I&I&I Ban to eliminate any possibility of fraud6 for e$ample, daily1I5 reports are generated and reconciled with ban data on a regular basis.



('



F') ##. 8 K'o-*- +- M/!'7A4'2'< 4r- + ICICI B+*

P5+- 9@ D-')') 5 Pro1/4

U I&I&I Ban offers a range of remittance products that target the Indian diasporaworldwide.

U %he two most attractive products are 5peed %ransfer and Insta %ransfer, both of whichoffer

the rapid transfer of funds.

U Both of these products are popular with =Is living in the 9ulf countries, where

payments and fees are made to international e$change houses and are received for free by the remittancerecipient.



((



P5+- @ F'+4'+! L'r+4<, M+r*'), +1 L+/45') 5 P'!o Pro1/4

U #uring the first few wees of the pilot, I&I&I focused primarily on building awarenessamong the villagers. 5ales personnel of I&I&I Ban housed themselves in the ioss anddisseminated information on the free receipt of remittances.

U %hey distributed promotional material lie leaflets and posters and too the opportunityto e$plain the various products and features of I&I&Is remittances program duringregular interactions with clients.

U I&I&I Ban also provided online chat systems to villagers so that they could inform

remittance senders of I&I&I Bans services. %he sales personnel from I&I&I Ban sentout printed, personali/ed invitations to households with =I relatives

U %hese invitations informed remittance recipients about the timing and schedule of thechat well

in advance so that they could inform their relatives abroad. %his scheme was a tremendoussuccess and elicited an enthusiastic response from the villagers.

U In researching the use of remittance funds by clients, I&I&I Ban discovered that the

remittances were being utili/ed for monthly sustenance. As such, withdrawal of funds was highly liely.

U #uring this phase of the pilot, I&I&I Ban began to influence withdrawal patterns andsucceeded

in altering the withdrawal frequency from once at the beginning of each month to several timesinsmaller amounts throughout the month, leaving more funds in the clients account for a longer period of time.

U &ustomers are now typically withdrawing the money in four installments instead of theconventional bullet withdrawal which was prevalent earlier.



()



C5+3r #9

BUSINESS OVERVIE% @ ECONOMIC OVERVIE%, FINANCIAL OVERVIE% OF

ICICI BANK. ;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;

ICICI Ban, :Annua+ report /001%/002

E4oo0'4 o2r2': @



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F'+4'+! -4or o2r2': @



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C5+3r #PESENCE OF FOREIGN BANKS IN INDIA

;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;

<riter!Noel =ebello,1umbai.DNA Mo< 2o! , '--/ o. , Mo1+< 0+r45 9,9$$".

D+'!< :- & A+!<-'- .0o<

%itle : B') 3!+< for for') 6+*- /!'*!<

F')#.#. Ho: 0/45 6/-'-- 1o for') 6+*- 1o o:

%op @H for') Bans %op @H I1'+ BansN+0 B/-'--

(R-. Cr

N+0 B/-'--

(R-. Cr

&itiban ,$9 5BI ",#9

5B& 9, I&I&I Ban $,$

5tan&hart $,$ "B 9,""

AB Amro ",9" Ban of India 9,

#eutsche ban 99,# &anara Ban 9#,#$

Barclays ban #, Ban of Baroda 9,

Ban of ova

5cotia

,9" &entral Ban #,#

Ban of America , Gnion Ban #,9$

#evlp B of5ingapore

,$ #8& Ban #,#"

B" "aribas ,$$ 5yndicate Ban #",99#

8or five years from now, since the =eserve ban of India =BI? released its Ro+10+3 for Pr-4 of for') 6+*- ' I1'+ on 1arch (, 2HH', April @, 2HH , has held significance asthe date baning in India would see a sea!change with the ground being laid for operations byforeign bans. In that paper , RBI had promised to review foreign ban regulations in Indiaeeping with a <orld %rade rgani/ations agreement.

%he review would include Tdilution of stae + permitting mergers + acquisitions of any private bans in India by foreign bans. Bac then, global economic growth was at its pea, foreign bans could do no wrong in their home country + liberali/ation was the bu//word in India.

%oday, global growth is almost non!e$istent, foreign bans are regretting their sinful investments+ India can well turn around + tell the world it was right in going slow on liberali/ation.



(



As a result, less than a couple of wees before this most anticipated April deadline, foreign bansare not lobbying for its as hard + the =BI too is not very een.

2HH is the election year + baning analysts do not e$pect crucial policy intervention till a new9ovt. is elected + firmly in charge.

5uresh 9anapathy, baning analyst with 9erman D/-45 6+* , says these decisions aredifficult to come by in an election year. It will depend on whether the 9ovt. is willing orunwilling. =ight now, the future is uncertain. Also, things were huny dory when the =BI hadmade these commitments. It has changed drastically since. 9anapathy draws attention to therapid crumbling of top bans in the developed marets because of huge losses on investmentsthey didnt understand.

Cr+! 6+*- ' 5 US, UK& 5 E/ro3+ U'o have had to give away trillions of dollarsto these bans just to help them eep afloat.

C'')ro/3, the most famous of the G5 bans , has got O'( billion from the G5 9ovt.Its investments baning peer Kehman Brothers was not so lucy, as it was declared banrupt in5ept.2HH>.



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C5+3r #

BUSINESS SEGMENTS & PRODUCT & SERVICES @ SEGMENTS PERFORMANCE

ANALYSIS ,CONSOLIDATED PROFITJLOSS,KEY FINANCIAL INDIACATORS.

;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;



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C5+3r #

ICICI BANK @ GEOGRAPHIC COVERAGE, %ORLD7%IDE LOCATIONS &

OFFICES.

;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;

R)'-r1 Off'4 @7 Kandmar, =ace &ourse &ircle, ;adodara 3HHH0.Cor3or+ off'4 @7 I&I&I Ban %owers, Bandra!urla comple$, 1umbai 'HHH(@

G!o6+! r+45 @7

F') #.#7G!o6+! r+45 of ICICI B+*



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C5+3r # @

FINANCIAL PERFORMANCE @ ANNUAL REPORTS HIGHLIGHTS .

;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;

ICICI B+* Prfor0+4 r2': @ <+r 11 M+r45 #-, 9$$"

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S/00+r< 6+!+4 -5 @



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C5+3r #

MARKETING STRATEGY PERSPECTIVE EVEN AFTER RECESSION A

RESEARCH STUDY .

;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;

A/5or 8 o5 /!45( '- 5 L'4o! F'! Prof of B/-'-- A10''-r+'o + H+r2+r1

6/-'-- -45oo!

H+r2+r1 B/-'-- S45oo! 8:or*') *o:!1)(A f'r- !oo* + f+4/!< r-+r45

R-+r45 & I1+-

To3'4 7 M+r*') +fr r4--'o

P/6!'-51 80+r45 #, 9$$"

Jou may have downsi/ed , voluntarily or involuntarily ,since the recession began6 but at least

you are still in the business .C/-o0r- +r !oo*') + <o/r 3ro1/4- & -r2'4- 5ro/)5 : !--.

• Fo4/- o 5')573o'+! 4/-o0r-. 1ae sure you focus on building relationships with

ambitious customers in growth industries where pent!up demand is going to be unleashed

once the economy turns the corner. If youEre running a B2& business, focus on cash!rich

or long!term!oriented consumers to lead you into recovery. But donEt forget to stoc up to

tae advantage of the pent!up demand that will be unleashed once other consumers get

their confidence bac.

• Do +--/0 + r/r o or0+!. %he longer and deeper the recession, the more liely

consumers will adjust their attitudes and behaviors permanently. %heir coping

mechanisms may become ingrained and define a new normal. In addition, the competitive

landscape will have changed. A competitive shaeout along with new product launches

may mean consumers are looing at your products and services through new lenses.

Kisten closely to your customers and revise your maret segmentation assumptions.

•

A---- <o/r +r) 4/-o0r- r/- ' <o/r 6r+1. &learly, trust in financial services brands has taen a beating. 1any well!nown brands lie 1errill Kynch will simply

never win bac consumer confidence6 if you are woring for such a brand, dust off your

&; and move on. But bad behavior in the financial services sector has bruised trust in all

corporate brands. &onfirm that your target customers still trust you but plan to add



02



service support and hold their hand more firmly in the short term, even though your

service quality, measured objectively, has remained constant.

• S+< fo4/-1 o 4o--. 1any manufacturing industries as opposed to services industries?

are plagued by global overcapacity, relative even to pre!recession demand. &ombinedwith e$cess inventories in the supply chain, especially in consumer durables, the result

will be continuing downward pressure on prices. 4conomic recovery will not allow

producers to let up on tightening cost controls and improving productivity.

• Ko: <o/r !+1 '1'4+or-. 4very good mareter nows the specific indicators, macro

or micro, that predict demand for his or her product in the ne$t period. Gse common

sense. If the <al!1art paring lot loos less crowded, some consumers are probably

migrating bac to %arget and vice versa.

• D2!o3 -4+r'o-. ow long the current recession will last is widely debated. And

whether the eventual economic recovery will be gradual or dramatic is equally unnown.

1areters planning for 2HH and 2H@H should bear in mind "eter #rucerEs wise advice*

LA strategy is a sense of direction around which to improvise.L now how you can source

supplies and e$pand distribution in a hurry if demand suddenly spies.

• Do :+' for 3r0'--'o. 1ost companies will not begin reinvesting until the Wall

Street Journal or Ben Bernane officially declare the recovery underway. 9et ahead of

the crowd. &raft your recovery plan now, and pull the trigger when your lead indicatorssay go.

• S0+r 51)') 5+- o/:')51 -0+r 0+r*'). %he current recession has not been

ind to mareters. In many multinationals, the positive financial impacts of recession!

busting mareting plans have been obliterated by commodity price volatility and weaer!

than!e$pected overseas earnings due to the une$pected strengthening of the dollar.

4conomic recovery will bring greater commodity price and e$change rate predictability.

1areting will again come to the fore as a differentiator between successful businesses

and also!rans.



03



C5+3r #

ICICI BANK @ GRO%TH OUTLOOK 8 MANAGEMENTS OUTLOOK & ANALYSTS

VIE%POINTS AND ORGANISATIONAL ECELLENCE .

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C5+3r #"

GRO%TH FORECAST @ ICICI GROUP

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C5+3r 9$

ICICI B+* @ S%OT A+!<-'-

;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;

ICFAI B/-'-- S45oo! (IBS -/1- 4o00/'< 3or+!

S:o A+!<-'-

5<% analysis is done for a company, to find out its overall 5trengths, <eanesses, %hreats andopportunities leading to gauging the competitive potential of the company.%he 5<% Analysis enables a company to recogni/e its maret standing and adopt strategiesaccordingly. ere 5<% analysis of I&I&I ban is made to understand the positioning of the ban better*STRENGTHS

@. BRAND NAME* I&I&I Ban has earned a reputation in the maret for e$tending qualityservices to the maret vis!V !vis its competitors. It has earned a strong Brand name in baning ina very short span of time.

2. MARKET SHARE* I&I&I Ban has the largest maret share of 3'M in the I% + I%45industry in yderabad according to our survey within the limitation of the sample si/e.?

3. HUGE NET%ORK * I&I&I Ban has the highest number of lined branches in the country.%he ban operates through a networ of '(H B=A&45 A# over @>HH A%1s across India,thus enabling them to serve customer in better way.

'. DIVERSIFIED PORTFOLIO* I&I&I Ban has all the products under its belt, which help itto e$tend the relationship with e$isting customer. I&I&I Ban has umbrella of products to offertheir customers, if once customer has relationship with the ban. 5ome "roducts, which I&I&IBan is offering are*

R+'! B+*').

B/-'-- B+*').

Mr45+ E-+6!'-50 Sr2'4- (EDC M+45' .

Pr-o+! !o+- & C+r !o+- .

D0+ Sr2'4- :'5 E7Bro*') .

M//+! F/1 (ICICI B+* '- 5 D'-r'6/or of +!! M//+! F/1 .I-/r+4 .

Ho/-') Lo+-.

(. SALARY ACCOUNT* ne very interesting thing that we have observed in our survey is thatI&I&I is having an edge over other bans in case of 5alary Account. 1ost of the companies arehaving their 5alary Account with I&I&I even if their &urrent Account is with any other Ban.%his is mainly because of the huge networ of A%1s and branches of I&I&I.



>'



). %ORKING HOURS* I&I&I is the only ban which is having its woring hours from > to >which is one of the major strength of I&I&I Ban with respect to I% + I%45 Industry. As most ofthe I% + I%45 companies are global players and their "arent company is in G5, so they have towor according to their office time. %hus some have their ffice time in the morning and some

have it in the evening so if the woring hour of the ban is > to > it is very convenient for them.

0. TREASURY DEPARTMENT* I&I&I is the only ban which is having its treasurydepartment especially for yderabad &ustomers. 5o customers can get the best rates for foreigne$change.

>. AGGRESSIVE MARKETING@ I&I&I Ban is nown for its aggressive mareting of its products. =ecent 4ndorsement of its product by A1I%AB BA&A proves the same. %hisgives I&I&I an edge over other bans.

. TECHNOLOGY* 8rom its inception, I&I&I Ban has adopted a policy of selecting

internationally proven and speciali/ed "acaged 5ystems for its technology. I&I&I banWXYstechnology platform has been acnowledged globally as one of the best in terms of robustness,fle$ibility and cost efficiency. I&I&I Ban is in a position to leverage this platform to further build cost and service advantage.

%EAKNESS

@. TRANSACTION COST* I&I&I Ban charges high cost for its transactions. %hrough our dataanalysis we have find out that most of the small companies prefer nationali/ed bans only because of this cost factor. Also the group has found out that there are companies which aregoing for multi ban system i.e. they are using only those facilities of I&I&I Ban which are

provided at cheaper rates read 5alary Account? and for other services they are going tonationali/e bans and 1&s read 8ore$?. 5o there e$ists a huge potential for I&I&I Ban if theyare ready to mae their transaction cost fle$ible.

2. FOCUS ONLY ON HIGH END CUSTOMERS* %he ban targets only the top bracet ofclients and does not cater to the needs of small customers. #ue to this reason the ban maysometimes loose good clients.

3. DEFENSIVE APPROACH IN LENDING* I&I&I Ban has a defensive approach in lending.1ainly to I% + I%45 companies Ban do not provide loan as these companies are not havingcollaterals so ban hesitate in giving loans to them. Because of this policy companies prefer

nationali/ed bans and I&I&I Ban in turn sometimes loose potential customers.

'. LITTLE PRESENCE OUTSIDE INDIA* I&I&I Ban is having little presence utsideIndia, because of which companies are preferring 1& Ban, mainly &itiban. 5o if I&I&I Ban tries to emerge outside India then it has a huge potential of customers.

(. POOR CUSTOMER CAREJSERVICE* <ith its aggressive mareting I&I&I Ban israpidly increasing its customer base. %hey are not however, increasing the number of employees



>(



accordingly. %his is leading to deterioration of the standard of customer service.

OPPORTUNITIES

@. NE% IT & ITES COMPANIES* I% + I%45 sector is on a boom in the Indian maretconte$t, with new companies mushrooming in the maret6 it opens the door for I&I&I ban tocapture the huge untapped maret.

2. D'--+'-f'1 C/-o0r- of O5r B+*-* %he group from its survey and analysis of I%companies have found out that there are many companies which are not satisfied with its current ban, so I&I&I with its superior service quality and long woring hours can capture thosecustomers.

3. R0'+4-* 8rom the analysis group has also found out that I&I&I ban has very little presence as far as the 448& account is concerned. &ompanies prefer to ban with 1&s which

have greater presence in the foreign countries? and nationali/ed bans which according to thecompanies provide lower transaction rates? to get their inward remittances in spite of I&I&I being providing one of the most competitive rates. 5o the ban can promote its 448& account betterand get the ey to the door of huge potential maret.

'. B/-'-- +12'-') for -0+!!r P!+<r-* %he analysis has also indicated that the concept of business advising though very popular with the higher end players is virtually non e$istent in thelower end of the maret. I&I&I should tae this opportunity to provide business advising to thesmaller companies at competitive rates and try to tae the first mover advantage.

THREATS

@? A12 of MNC 6+*-* Karge numbers of 1& bans are mushrooming in the Indianmaret due to the friendly policies adopted by the government. %his can increase the level ofcompetition and prove a potential threat for the maret share of I&I&I ban.

2? D'--+'-f'1 C/-o0r-* %he analysis indicated that though most of the companies aresatisfied with the products offered by I&I&I ban but the poor customer support7 service iscreating a lot of dissatisfaction among the customers, this can prove to be a serious problem asfar as the maret reputation of the ban is concerned and cane be a major threat in future business acquisition.

3? E2r '03ro2') +'o+!'1 6+*-* <ith "5G bans lie 5BI going all out to compete withthe private bans and government giving them a free hand to do so, it can prove to be seriousthreat for bans lie I&I&I.



>)



C5+3r 9#

RESEARCH METHODOLOGY OF ICICI BANK, CANADA .

;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;

o/r+! of F'+4'+! Sr2'4- M+r*') (9$$ #, 9$899$. 1o'@#$.#$Jf-0.9$$.9#

To3'4 8 Ir+'o+! 0+r*') -r+)'- ' 5 r+'! 6+*') '1/-r< @ T5 4+- of

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&orrespondence* Keighann &. eilson, 5prott 5chool of Business, &arleton Gniversity, @@2(&olonel By #rive, ttawa, nt., &anada @5 (B)

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is Assistant "rofessor of 1areting in the 5prott 5chool of Business at &arleton Gniversity&anada?. er research interests are related to social and cultural influences on mareting,interpretative and qualitative research methods, mareting history, and mareting in culturalinstitutions.

2is a 1aster of Business Administration graduate from the 5prott 5chool of Business at &arletonGniversity &anada?.

=eceived @( August 2HH>6 =evised @( August 2HH>.

A6-r+47 %his study presents an overview of the mareting strategy that a retail ban may pursue when it targets home country nationals in a foreign maret. An analysis of the maretingstrategy of I&I&I Ban in &anada reveals that a transnational strategy coupled with anethnocentric staffing policy allows the parent firm to retain control, while the choice of asubsidiary as an entry mode allows for local responsiveness. 8urther analysis illustrates that the blend of various variables in the services mareting mi$ ie price, place, promotion, participants, physical evidence, and process? can help in attaining customer satisfaction.

C/-o0r -+'-f+4'o * In the conte$t of retail baning, customer satisfaction has been found to be the ultimate measure of service performance. nce customer satisfaction has been created,

loyalty is often formed , which is in turn enhances firm profitability. 5ince customers, however, believe that product offerings across bans are similar, the option of product diversificationwould liely be an inefficient strategy. 1any retail bans, therefore, may choose to e$pand intonew international marets.

In case of international e$pansion, language differences may hinder effective communication.ne strategy retail bans could adopt to overcome these obstacles is to target home countrycustomers in the foreign maret. By employing a case study of I&I&I Ban &anada, this research



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illustrates how an international ban that targets home country nationals in a foreign maret cansuccessfully adapt its mareting mi$.

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I&I&I ban &anada, is a wholly owned subsidiary of I&I&I Ban Kimited, headquartered in1umbai, India offers a wide range of baning products and financial services to corporate andretail customers, and, through various subsidiaries and affiliates, is also active in the area ofinvestment baning, insurance, and wealth management. I&I&I Ban &anada is licensed as aforeign ban subsidiary 5chedule II Ban? under the Ban Act &anada?. %he company is IndiaEssecond largest ban, the countryEs most valuable ban in terms of maret capitalisation, and israned third among all the companies listed on the Indian stoc e$changes in terms of 8ree 8loat1aret &apitalisation. 8ree 8loat 1aret &apitalisation is defined as that proportion of totalshares issued by the company that are readily available for trading in the maret. It e$cludes promotersE and government holdings, strategic holding, and other shares under any type of loc!in clause that would not come into the maret for trading in the normal course?.

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A case study approach was appropriate because the research focused on determining how andwhy the mareting mi$ variables were adapted Z questions that had to be traced over time,rather than through incidence. Although direct observation provided useful and relevantinformation, the case study approach also allowed for the use of a variety of other evidenceincluding content analysis of the BanEs mareting communications, which helped to round outthe inds of data collected.

%o facilitate an intensive, detailed analysis, multiple data collection methods were employed. Inthe first method, data were collected through personal observation of the mareting strategy ofI&I&I Ban &anada. %he second author completed a 2.(!month internship '( h7wee? at theBanEs &anadian head office, woring on projects in the areas of mareting management andcustomer complaint processing, interacting primarily with the senior manager and assistantmanagers of the #epartment of 1areting + "ublic Affairs, assistant managers of the &ustomer5ervice department, and managers of "roduct #evelopment. %he data that will be utilised tointerpret the mareting strategy, however, are those which are available for access to the general public.

%he BanEs branches located in one of &anadaEs largest cities were also visited so as to develop adeeper understanding of the physical d[cor at the branches. All relevant information observedand obtained. I&I&I Ban &anadaEs television advertisements were viewed and analysed over ane$tended time period, totalling over 'H viewings. Additional materials, such as white papers published by private firms, government policy documents, and information contained on retail baning industry websites helped to round out the conte$tual information necessary for analysingthis case.



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%he grounded theory approach is appropriate for open!ended research in order to generate theoryout of the data collection and was therefore a relevant basis for attaining the research objectives.#uring analysis, data were broen down through coding whereby those mareting variables

identified as important during the review of the ban mareting literature guided the labelling process. %he literature review also served as the basis for e$ploring relationships betweencategories in order to determine the relative importance of each of the mareting variables and itssub!elements. 8ollowing the constant comparison method, new data being collected wereevaluated for its potential to illuminate the concepts being coded. #ata collection and codingended when a degree of certainty had been reached with respect to the research objective andtheoretical saturation had been achieved. %his approach allowed the researchers to determinethose mareting variables that are of most significance when targeting the same customer base asthe home country in the conte$t of retail baning.

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)ode of entr3% %he &anadian government has established that foreign bans wishing to operatein the retail baning sector need to enter either as a subsidiary or as a branch which dependsupon several factors. Gnder &anadian regulations subsidiaries are able to offer the full range ofretail baning services, allowing the Ban to act as a one!stop solution for the baning needs ofnew 5outh Asian immigrants. 8oreign ban subsidiaries are also eligible for insurance provided by the &anada #eposit Insurance &orporation. &anada #eposit Insurance &orporation &#I&? isa federal &rown corporation that insures the savings of &anadians up to O@HH,HHH? in case theirfinancial institution fails or goes banrupt6 enhances the perceived trustworthiness of the Ban,

thereby enhancing its ability to attract maret share. By entering the &anadian maret as asubsidiary, the Ban also has greater control over strategic decision maing, which allows forswift response to changes in the e$ternal maret. A strategy of organic growth allows forautonomy in decisions pertaining to the mareting mi$, which in turn allows the Ban todifferentiate its offerings from the competition. %he organic entry mode allows the Ban toe$ploit the long!term potential of its investment in &anada.

Internationa+ strateg3! resembles a transnational strategy. %he transnational strategy allowsI&I&I Ban to e$ploit core competencies throughout the subsidiary and parent firm. Acentralised policy for corporate branding, written communications, and creativedevelopment allows the Ban to maintain cohesion with respect to maintaining a

consistent brand image. I&I&I Ban has implemented a policy for corporate brandingentitled EI&I&I Ban &orporate Brand 9uidelinesE, which outlines the ways in whichthe I&I&I Ban corporate brand name and image may be utilised throughout theinternational operations. %he policy helps ensure a consistent brand image on allmareting communications. %he autonomy given to the subsidiary in terms ofdetermining appropriate mareting strategies allows the Ban to respond to the needsof the local maret.



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Organi4ationa+ factors7 whereby home country personnel are selected for management jobs. Benefits of this approach include enhanced mareting communications Z managersare largely familiar with the culture and customs of customers and can implementeffective mareting strategies, and enhanced control Z employing home countrynationals allows headquarters to replicate its policies and practices. 1aintenance of

control is necessary because the subsidiary is currently in its early stages of growthand depends on headquarters for direction with respect to corporate strategy. &anada israned as a society with a more individualistic attitude, with the populace being moreself!reliant and private. In contrast, India has a high power distance and is morecollectivist. wing to such differences, it is liely that employing &anadian managerscould result in cross!cultural conflict. %he disadvantages to this strategy are thatfle$ibility to new management approaches is reduced, and training e$penses increase because e$patriates are unfamiliar with the &anadian environment.

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Pro1/47 %he Ban has attempted to build relationships with new 5outh Asian immigrants byoffering innovative products, such as the Eello &anadaE account that allowsimmigrants coming to &anada to open a &anadian ban account from a foreigncountry and transfer funds into the account prior to arrival. A second product, theEello &anada ewcomers AccountE, permits customers to obtain credit cards, and carand house loans prior to arrival. %hese specialised products allow customers to accessmoney upon arrival, easing their transition to &anadian society. 8or instance, the=oyal Ban of &anada has implemented a E5ecured ;isa ptionE that allowsimmigrants to build a credit history more easily. %he company has also launched an

internet!based account opening procedure that allows immigrants to deposit funds prior to arrival.

Pr'47 In order to attract new immigrants, the Ban promotes its money transfer business byallowing customers holding a chequing account to transfer money to 5outh Asia without anycharge. In comparison, I&I&I competitor Ban of 1ontreal charges between O@( and O@2( &dnfor wire payments. %his is a viable strategy because in the first few years after arrival customersare more focused on transferring money bac home. %he ban maintains competitive prices forvarious investment and mortgage products by offering a higher interest rate than other &anadian bans. %he BanEs competitive pricing is made possible by the cost savings it realises byretaining some of its worforce in India, where wages are lower. <hile international bans such

as 5B& and &itiban save appro$imately 3H per cent by outsourcing low!end functions of dataentry, call centre jobs, and payment processing to India, I&I&I Ban claims to save as much as0H per cent with both low! and high!end jobs such as product innovation and technologydevelopment based in India. By offering free money transfers, the firm creates customersatisfaction during the initial phase of immigrantsE adjustment to &anada. %hereafter, competitivemortgages and investment product pricings help maintain satisfaction during phase two. Afterthis, immigrants enter into phase three, by which time they have integrated and settled into&anada. At this stage, the Ban has also been able to develop customer loyalty, and therefore,



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customer switching is less liely to occur allowing the Ban to focus on other variables tomaintain satisfaction. At least one competitor, "residentEs &hoice 8inancial, provides a higherinterest rate on savings accounts and charges no daily baning or account maintenance fees onchequing accounts. %he Ban, in a sense, defers profit taing until immigrants enter phase threewhen it is able to charge more and not lose customers.

P!+47 %he Ban offers its products through various channels. It has strategically establishedseven branches in &anadian cities that have a prominent 5outh Asian community. &ustomers arealso allowed to utilise AB1 machines with the Interac or &irrus logo located worldwide. %his isan e$cellent strategy for satisfaction since it is liely that customers travelling to their homecountry will need access to their accounts. %he Ban offers credit card products, and clients areallowed to transfer funds to 5outh Asia via their credit card, enhancing customer convenience. Asa sales tactic, ioss are placed at various 5outh Asian grocery stores in the 9reater %oronto#istrict. %hese ioss are staffed by 5outh Asian sales personnel whose primary role is to attractcustomers to open accounts with I&I&I. %he &anadian Imperial Ban of &ommerce &IB&? haslocated several branches in 5outh Asian neighbourhoods and also offers AB1 services in ethnic

languages. Ban of 1ontreal is also increasing branch penetration in the ethnic communities todeepen relationships with the local population.

Pro0o'o7%he Ban creates and maintains a strong image through mareting communicationsand event sponsorship. %o create a trustworthy image, I&I&I Ban &anada showcases5hahruh han, a well!nown Indian actor, in its mareting communications. han iscurrently raned as one of the most famous and influential celebrities in 5outh Asia. %his maes ads featuring han both persuasive and effective. =esearch on the use ofcelebrity endorsers finds that the symbolic properties of the celebrity are transferredonto the product, and thereafter onto the customer. In addition, the Ban is able toutilise 5hahruh han in the e$plicit mode of EI endorse this productE 5 Gtilising a

trustworthy source enhances the trustworthiness of the product, implying that it is safe,secure, and stable. %he Ban emphasises television and radio in its promotion strategy.

P+r'4'3+-7%here are three primary ways through which the Ban ensures that personnel arecompetent, communicate effectively and reliably, and handle conflicts satisfactorily. 8irst, uponselection, personnel are e$posed to various materials outlining the banEs history, industryoverview, maret reach, and strategy. 5econd, training and guidance are given on a regular basisto e$isting employees, so as to instil a culture focused on customer satisfaction. And finally, aninternal mareting programme has been implemented which consists of distributing internalnewsletters to update staff on the latest company developments, future objectives, and successfactors for customer satisfaction. %he Ban recruits 5outh Asian personnel and ensures that as a

whole the staff speas various 5outh Asian languages such as Arabic, 9ujarati, indi, "unjabi,%amil, and Grdu. %his raises comfort levels and helps in changing attitudes and opinions of theclients. ther &anadian bans, however, also recruit ethnic personnel in order to attract ethnicmarets. 8or e$ample, %oronto #ominion Ban ensures that the branches located in communitieswith high ethnic populations are staffed with personnel able to spea minority languages and&IB& pursues a similar strategy.



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P5<-'4+! 2'147Branches have a fairly modern layout with open!space designs and limiteduse of bandit screens. 5pacing between the dess is sufficient to ensure privacy. %heseelements help to enhance perceived trustworthiness, prevent robbery7fraud, and serveto reduce emotional stressors. Brochures and posters featured in branches focus primarily on money transfers and investment products. %he posters designed to

support cross!selling activities focus primarily on traditional retail baning products.

Pro4--7Gpon receipt, complaints are reviewed by the &ustomer 5ervice 9roup located in India,who strive to address the issue within two to three business woring days. In case theissue needs a localised response, it is transmitted to the &ustomer 5ervice %eamlocated in &anada. &ustomers may be compensated for an error whose fault lies withthe Ban. And in cases where the customer has significant business with the Ban, agift may be offered and senior managers may also get personally involved 5 %hesegestures show that the Ban is trustworthy and has accepted responsibility for its faultsand allow stable relationships to be built.

ICICI B+* C++1+- 3rof'+6'!'< ++!<-'-@7 =esearch suggests that the value of deposits is

an important way to determine whether a retail ban has been successful in maintainingrelationships with its customers. %he rise in interest income has reduced the BanEs net loss, withthe lielihood of positive returns in a few years. 8rom our analysis, it is evident that themareting strategies that I&I&I Ban &anada has implemented are leading to customersatisfaction and enhanced profitability.

)anageria+ imp+ications 6 suggestions for future researc- *ur research highlights the need to understand not only the differences between the baningsystems of the home and new country, in order to understand the customerEs potential confusion, but also the customerEs stage of adaptation to the new country and consequent financial service

needs. 5ome larger bans have initiated targeted mareting campaigns that include new productlines and websites especially designed for new and potential immigrants, which might serve asmodels.Additional guidance can be found in Atallah and =ebeloEs 2HH) report based on researchconducted within new immigrant communities. %hey recommend that financial institutionseducate staff, especially customer contact and mareting employees, to understand immigrantmarets6 provide cultural sensitivity training to all staff6 e$pand alternative credit measurements6and develop partnerships with community!based organisations in order to offer financial literacy



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worshops to new immigrants. A quantitative research design would allow for the estimation ofthe importance of the various mareting mi$ variables in terms of the e$tent to which eachdetermines customer satisfaction.B'6!'o)r+35<

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