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 Third PPlace

 

The most important element in distribution strategy relate to this issue of location of the banks to render their service. Distribution means delivery of the products or service at the right time and at the right place. The place where the banking products or service are delivered is an important element in bank marketing. The place strategy of Indian banks has been on the basis of too many parameters. Prior sanction from RBI and responsibility of banks towards development of banking habit in remote unbanked areas have been some of the important given parameters. So from the marketing stand point, place strategy is not fully positive to Indian banks. Some of the major trends in this are

 

The branch licensing policy of RBI is already a thing of the past. This was one of the first policy responses of the government to the Narasimham Committee Report on Financial system 1991.

 

Branch expansion on the basis of social banking consideration has achieved its objectives substantially.

 

Compared to any nation in the world, India has the largest bank branch network. Practically it covers every nook and corner of the country.

 

Banks in India have been experimenting with a few strategies relating to place. That is, extending their reach through means other than branch expansion as well. The first such strategy is the concept of extension centre, satellite office etc. Secondly, the concept of special counters for certain customer segments for example, for pensioners, non-resident Indian, etc. Thirdly mobile office is also a part of current banking practice. Through this, the banker came to the doorstep of the customers. Fourthly, technology has also been deployed by banks for implementing their place strategy. Home banking and ATM are in Indian banking. Fifth, a recent innovation is that of strategic alliance. This trend has been set up in motion mainly by the newly set-up private banks in order to overcome the draw back arising out of the limited branch network. Some of these banks entered into strategic alliance with already established banks having wide branch network. One such alliance is between Global Trust Bank and Vijaya bank.

 

 

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