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 Second P- Price

 

Price in the case of service, different terms are used for different services like fees for legal service, fare for transport service, commission agency services, premium for insurance service, interest for the use of money.

 

Two characteristics, which have great impact on determining the prices of services are, perishability and intangibility. In banking industry, price is the amount of money that will determine the exchange rate of bank product or services between the bank and customers. Price determination of the banking products or services is subject to regulation either by the Government or by the Reserve Bank of India. It is a unique feature of the bank price that the products are mostly designed by the banker while the price is determined by the RBI and Government of India. Due to this, there is uniformity in the price of bank product throughout India. Hence the chance of competition on the basis of price is almost no. As a part of the economic liberalization programmed of the Government, pricing in Indian banking is steadily being deregulated.

 

Successive credit policy pronouncement of RIM during the last few years has alreadybrought about substantial deregulation and flexibility for banks in evolving their pricing strategy.

 

 

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