Customer Satisfaction in Icici Bank

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PSG COLLEGE OF ARTS AND SCIENCE Coimbatore -14 An autonomous college and Affiliated to Bharathiar University

The effects of Promotional strategies in the Marketing of financial services in ICICI Bank

by Suryabala.S BBM II Dec 2011

The effects of Promotional strategies in the Marketing of financial services in ICICI Bank

2011

TABLE OF CONTENTS:  

Preface Executive Summery o Research objectives



Introduction o Scope



Research o Research methodology o Sampling o Data collection

 

Literature review Data Analysis and interpretation o Online banking o iMobile o PAYBACK o Privilege Banking o ATM Banking

  

Recommendation Conclusion Reference

Suryabala.S

Page 1

The effects of Promotional strategies in the Marketing of financial services in ICICI Bank

2011

PREFACE

Effectiveness is the measure of the gap between results and objectives. Lower the gap, higher the effectiveness. Thus it is an evaluation of the advertising and other marketing process used as promotional strategies. The promotional evaluation process is frequently called accountability. Management wants the promotional managers to identify exactly what results were obtained for the marketing investment and to provide evidence of the return on investment. After all, advertising uses the scarce resources that could be invested in a number of ways. Therefore, the question that management poses is, “Did our promotional strategies reach the customers and show any effect?" And it is the job of the advertising campaign planner to be able to answer that question. To do so usually requires some form of promotional evaluation. Evaluation of advertising campaign effectiveness is a form of research though it is somewhat different from other forms. Most research is used to predict what might occur in the market place. Effectiveness research, on the other hand is used to determine exactly what did happen. Although this information might be used as a basis for future actions, its basic purpose is to measure what occurred as a result of the promotional strategies and, therefore, what return was received on the investment made. In short, the reasons to evaluate the promotional campaigns are as follows:  To determine if the objectives set for the advertising campaign were met. This of course presupposes that measurable objectives were set in the first place. And that these objectives are in line with the overall marketing objectives and strategies. The first success of any effectiveness research would be that it forces managers to think clearly and put down on paper, for themselves and others, what they expect the promotional strategies to do.

Suryabala.S

Page 2

The effects of Promotional strategies in the Marketing of financial services in ICICI Bank

2011



To quantify the return on the campaign investment. By knowing what was achieved, management can relate that information to opportunity cost of money and determine cost effectiveness of the promotional campaigns. Of course this is an ideal situation. Measurements of promotional results are seldom precise enough to make this quantification possible.



To use the results of effectiveness research to make changes, additions, or completely alter course for future campaigns. No promotional campaigns are ever totally successful.

Suryabala.S

Page 3

The effects of Promotional strategies in the Marketing of financial services in ICICI Bank

2011

EXECUTIVE SUMMERY A successful product or service means nothing unless the benefit of such a service can be communicated clearly to the target market. An organization promotional strategy can consist of:  Advertising: Is any non-personal paid form of communication using any form of mass media.  Public relations: Involves developing positive relationships with the organization media public. The art of good public relations is not only to obtain favorable publicity within the media, but it is...
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