Introduction

Marketing is an integral part of every organization globally. No matter what position you are employed, you have to paarticipate in marketing activities of the organization. Same goes with the Bank also. Banking Industry without doing Marketing is next to impossible because of the cut thoat competitions among various Indian and global Banks. Nowadays every Bank checks out your Marketing Knowledge before providing you any kind of Job. This setion covers mostly about the Bnaking Marketing strategies in India which will be usefull to pass in the SBI and IBPS Bank PO and Clerical Jobs Exams.

Team - Laqshya ..

What you will learn

Marketing is very important and to score high in Bank PO and Clerical Exams of SBI and IBPS, you should have proper knowledge about Bank Marketing. In this section you get to learn :

• Marketing Concepts for Bank
• Improve your Bank Marketing Knowledge
• Score high in Bank Marketing aptitude tests
• Became an exeprt in limited time

1.       The Fourth PPromotion

 

The promotion is to inform and remind individuals and persuade them to accept, recommend or use of a product service or idea. Promotion is a demand stimulating aid through communication.

 

Any marketing promotion campaign has two objectives. They are to inform the prospective customer and then to persuade him. Due to the inherent intangible nature of services, the customer of banking service relies more on subjective impression rather than concrete evidence. When a bank comes out with a new product, it makes its target customer segment aware of it only through marketing promotion. It may be in various forms like press advertisement, sales campaign, word of mouth, personal interaction and  direct mailing. Making the customer may be enough if the product is unique or in great demand. But this may not be so always. So the second fundamental objective of a promotion campaign is to persuade the customer to buy the product in preference to other similar products available in the market.

 

Now this persuasion too could be in different ways like by working on an emotional plan by an objective of presentation of benefit of the product by identifying the product with some strong need of customers. Along with the above fundamental objective, it also has some subsidiary objectives like image building of an organization and promoting the growth of a newly started industry.

 

The primitive effort for banking services consists of both personal and impersonal devices. Personal device is purely subjective in nature and it differs from person to person. Impersonal promotion can be through advertising, publicity and sales promotion. Personal selling is the responsibility of the bank staff. Impersonal selling should be done by the respective banks and their association. Among lending schemes, gold loans, agricultural loans and Government sponsored lending schemes are very popular in the urban and rural areas. The bank must try to understand the real needs and aspirations of the society and provide such product or services which will satisfy their assets. Marketing strategy should be designed to suit not only the present market but also the potential future market.

 

 

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