Embed Size (px)
Citation preview
8/14/2019 Marketing Strategy Of
http://slidepdf.com/reader/full/marketing-strategy-of 1/20
Marketing Strategy of ICICI Bank Ltd.
Presented By: SudhanshuKumar Jha (Roll No.:92)
8/14/2019 Marketing Strategy Of
http://slidepdf.com/reader/full/marketing-strategy-of 2/20
Introduction
• India’s second largest bank • 614 branches andextension counters• 2200 ATM’S• Biggest private sector
bank in India• Most valuable bank inIndia in terms of marketcapitalization• Described by thecompetitors and industryexpert in one word –
“Aggressive”
8/14/2019 Marketing Strategy Of
http://slidepdf.com/reader/full/marketing-strategy-of 3/20
First in the Industry
• Introduced concept of branding in the Indianbanking industry
• Process, People and Physical evidence – brought to
life by ICICI• Product Innovation• Unleashed the power of the internet• First bank to focus on retail banking as a driver for
growth• Comprehensive data centre availability & dataprotection solutions
8/14/2019 Marketing Strategy Of
http://slidepdf.com/reader/full/marketing-strategy-of 4/20
Focus areas of marketing effort
• Target marketing and customer acquisition• Share of wallet
• Channel strategy and management• Relationship management and database
marketing
• Product development & innovation• Credit approval
8/14/2019 Marketing Strategy Of
http://slidepdf.com/reader/full/marketing-strategy-of 5/20
Basis for segmentation•Occupation
Different products for different occupationalsegment identified
• IncomeMinimum balance serves as a income segmentbarrier
• GeographicalConcentrated on Tier 1 & Tier 2 Cities trying to
extend reach• Age
Different products like student account
8/14/2019 Marketing Strategy Of
http://slidepdf.com/reader/full/marketing-strategy-of 6/20
Targeting
Differentiated MarketingStrategy
• Tailors its marketing campaigns
to meet the needs of its target prospects• Creates differentiated
product offering for differentsegment• Use of technologyin tracking customer segment
8/14/2019 Marketing Strategy Of
http://slidepdf.com/reader/full/marketing-strategy-of 7/20
8/14/2019 Marketing Strategy Of
http://slidepdf.com/reader/full/marketing-strategy-of 8/20
Need identification
• Adapting international practices to the localcontext
• Information system warehouse• Product development department –
continuously studies market and analysescompetitive landscape
8/14/2019 Marketing Strategy Of
http://slidepdf.com/reader/full/marketing-strategy-of 9/20
Products and services• Deposits• Investment•
Loans• Cards• Demat services•
Mobile Banking• NRI services
8/14/2019 Marketing Strategy Of
http://slidepdf.com/reader/full/marketing-strategy-of 10/20
Pricing• The pricing decisions or the decisions
related to interest and fee orcommission charged by banks arefound instrumental in motivating orinfluencing the target market.
• The RBI and the IBA are concernedwith regulations. The rate of interestis regulated by the RBI and othercharges are controlled by IBA.
8/14/2019 Marketing Strategy Of
http://slidepdf.com/reader/full/marketing-strategy-of 11/20
Place• This component of marketing mix is related
to the offering of services. The services aresold through the branches. The 2 important
decision making areas are:Making available the promised services tothe ultimate usersSelecting a suitable place for bankbranches.
8/14/2019 Marketing Strategy Of
http://slidepdf.com/reader/full/marketing-strategy-of 12/20
Distribution Strategy
•Cross selling of products as a major area of focus• Creation of concept of DSA (Direct Selling Agent)• Creation of concept of DST (Direct Selling Team)
• Effort on the part of the bank to reach the customer rather thanwaiting for the customer
• Use of internet, mobile, ATM’s and other technological deviceto reach and serve the customers
8/14/2019 Marketing Strategy Of
http://slidepdf.com/reader/full/marketing-strategy-of 13/20
Product Promotion
• Aimed at generating sales• Communicates product
features and benefits
• Mainly through printmedia
• Point of purchasepromotion tools fordifferent products to reachthe relevant customersegment
8/14/2019 Marketing Strategy Of
http://slidepdf.com/reader/full/marketing-strategy-of 14/20
A man strolls down a beach, "Zindaginaam hai, mushkil ko aasaan banaaneka. Zindagi naam hai zindagi ko aasaanbaane ka."
Amitabh Bacchan turns to face thecamera, "Bas. Ek bharosemandsaathi hona chahiye."
8/14/2019 Marketing Strategy Of
http://slidepdf.com/reader/full/marketing-strategy-of 15/20
Public Relations
• Purpose - To deliver communication that is uniform in itsmessage and yet customized for specific target audiences
•Media relations
– Press conferences– Press Releases– 1-1 interviews
•Investor relations• Analyst relations• Government relations
8/14/2019 Marketing Strategy Of
http://slidepdf.com/reader/full/marketing-strategy-of 16/20
People
• Orientation towardscustomer service
• Division of SME,
Personal Banking andother functions at thebranch level
• Effort towards providing
sophisticated andmodern image of thebank through its people
8/14/2019 Marketing Strategy Of
http://slidepdf.com/reader/full/marketing-strategy-of 17/20
Process
• Use of technology for both internal andexternal processed• Process are system driven and independent
of the people handling it• Standardization of service across the
branches• Extensive investment in software solutions
for process systemization
8/14/2019 Marketing Strategy Of
http://slidepdf.com/reader/full/marketing-strategy-of 18/20
PHYSICAL EVIDENCE• logo• The layout of the branch,• The passbooks,•
Cheque books,• The furniture,• The reports,• Punch lines,• Employee’s dress code etc.
8/14/2019 Marketing Strategy Of
http://slidepdf.com/reader/full/marketing-strategy-of 19/20
Conclusion
• ICICI Bank today services a growingcustomer base of more than customeraccounts and bondholders’ accounts
through a multi-channel accessnetwork. They are focused on quality of products and services rather thanquantity of products and services.
8/14/2019 Marketing Strategy Of
http://slidepdf.com/reader/full/marketing-strategy-of 20/20
