FACULTY OF BUSINESS ADMINISTRATION
COURSE:MBA “A” sec
TOPIC:7 P’S OF MARKETING OF ANY ONE PRODUCT
7 P’S OF MARKETING FOR ICICI BANK
ICICI Bank offers wide variety of Deposit Products to suit our requirements. Coupled with convenience of networked branches/ over 1800 ATMs and facility of E-channels like Internet and Mobile Banking, ICICI Bank brings banking at your doorstep.
➢ Savings Account
➢ Senior Citizen Services
➢ Young Stars
➢ Fixed Deposits
➢ Recurring Deposits
➢ Roaming Current Account
➢ ICICI Bank Salary Account
Along with Deposit products and Loan offerings, ICICI Bank assists you to manage your finances by providing various investment options such as: • ICICI Bank Tax Saving Bonds
• Government of India Bonds
• Investment in Mutual Funds
• Initial Public Offers by Corporate
• Investment in "Pure Gold"
• Foreign Exchange Services
• Senior Citizens Savings Scheme, 2004
3. ANYWHERE BANKING
ICICI Bank is the second largest bank in the country. It services a customer base of more than 5 million customer accounts through a multi-channel access network. This includes more than 500 branches and extension counters, over 1800 ATMs, Call Centre and Internet Banking. Thus, one can access the various services ICICI Bank has to offer at anytime, anywhere and from anyplace.
a) Home Loans
b) Personal Loans
c) Car Loans
d) Two Wheeler Loans
e) Commercial Vehicle Loans
f) Loans against Securities
g) Farm Equipment Loans
h) Construction Equipment Loans
i) Office Equipment Loans
j) Medical Equipment Loans
a) Credit Card
b) Debit cum ATM Card
c) Travel Card
6. DEMAT SERVICES
• ICICI Bank Demand Services boasts of an ever-growing customer base of over 7 lacks account holders.
7. MOBILE BANKING
With ICICI Bank, banking is no longer what it used to be. ICICI Bank offers Mobile Banking facility to all its Bank, Credit Card and Demat customers. ICICI Bank Mobile Banking enables you to bank while being on the move.
8. NRI SERVICES
ONLINE MONEY TRANSFER
• FREE Money transfers into accounts with over 30 banks in India • Demand Drafts issued and payable at over 1250 locations in India • ONLINE Tracking of the status of your funds
• SUPERIOR Exchange rates
• OFFLINE MONEY TRANSFER facility is also available across geographies through • Our local branches and in association with partner banks/ exchange houses.
The pricing decisions or the decisions related to interest and fee or commission charged by banks are found instrumental in motivating or influencing the target market.
The RBI and the IBA are concerned with regulations. The rate of interest is regulated by the RBI and other charges are controlled by IBA.
The pricing policy of a bank is considered important for raising the number of customers’ vis-à-vis the accretion of deposits. Also the quality of service provided has direct relationship with the fees charged. Thus while deciding the price mix customer services rank the top position.
The banking organizations are required to frame two- fold strategies. First, the strategy is concerned with interest and fee charged and the second strategy is related to the interest paid. Since both the strategies throw a vice- versa impact, it is important that banks attempt to establish a correlation between two. It is essential that both the buyers as well as the sellers have feeling of winning.
The bank needs to meet its financial objectives
Some considerations for loan and deposit pricing are:
• ROA or ROE objectives