Comprehensive Marketing Management Techniques and Strategies in Banking Sector

1. MODULE D MARKETING MANAGEMENT S.V.ATRE FACULTY, BANK OF INDIA, MANAGEMENT DEVELOPMENT INSTITUTE, CBD BELAPUR, NAVI MIMBAI E-MAIL sva1955@indiatimes.com

2. MODULE D MARKETING MANAGEMENT Introduction to Marketing and Key Concepts Marketing Planning Consumer Behaviour The Art of Customer Service-As Applied to Banking Consumer and Market Segmentation Marketing Research Marketing Mix Competitor Analysis Product Strategy The Concept of Product/Service Delivery Pricing Strategy and its Application in Banking Bank Distribution Strategy Product Strategy Sales Training and HRD in Marketing

3. Introduction to Marketing and Key Conceptsrketing and Key Concepts Definition Marketing Marketing as a functional Area of Management Marketing as an Overall Business Philosophy Marketing Concepts The Evolution and the Why of Modern Marketing The Core Concepts of Marketing Marketing Management Company Orientations toward the marketplace (Marketing Concepts) Difference between Services and Products/Physical Goods Characteristics of Services Definition: Service The Servuction Process 3

4. What is Marketing…?? • Selling? • Advertising? • Promotions? • Making products available in stores? • Maintaining inventories? All of the above, plus much more!

5. Marketing = ? • Marketing is the process of • planning , • and executing the conception, • pricing, • promotion, • and distribution of ideas, goods, services • to create exchanges • that satisfy individual and organizational goals • “ American Marketing Association

6. Communication Industry (a collection of sellers) Market (a collection of Buyers) Simple Marketing System Goods/services Money Information

7. Marketing = ? • Marketing is the sum of all activities that take consumer to a sales outlet. • After that sales takes over. • Marketing is all about creating a pull, • sales is all about push. • Marketing is all about managing the four P’s – • product • price • place • promotion

8. What is the difference between Marketing and Selling ?

9. Difference Between - Sales & Marketing ? • Sales trying to get the customer to want what the company produces • Marketing trying to get the company produce what the customerwants

10. MARKETING PLANNING Macro-and Micro factors influencing the Market for an Organisation’s Goods and Services Controllable Marketing Variables and the Macro-Environment Proximate Macro-Environment Applicability to Banking The competititive Environment in Banking Meaning and Importance of Planning in Marketing Traditional Planning Difference between a Marketing Plan and a Company’s Corporate Plan Market-oriented Strategic Planning Difference between Marketing Plan and the Marketing Planning Process Banking Regulation and its Impact on Marketing Strategies 10

11. Strategic Planning is the managerial process of creating and maintaining a fit between the organization’s objectives and resources and the evolving market opportunities. Also called Strategic Management Process All organizations have this Can be Formal or Informal Strategic Planning

12. CONSUMER BEHAVIOUR Consumer Behavior: A directional force The Complexity of Consumer Buying Decisions Needs and Motives Individual Perception Learning and Habit Development Behaviour Models for Analysing Buyers The Marshallian Economic Model The Pavlovian learning Model The Freudian Psychoanalytic Model The Veblenian Social Psychological Model Factors Influencing Consumer Behaviour in Banking 12

13. THE ART OF CUSTOMER SERVICE AS APPLIED TO BANKING Building Customer Satisfaction through Quality, Service, and Value Customer Value and Satisfaction Defining Service Quality Managing Quality Delivering Customer Value and Satisfaction: ‘Moments of Truth’ ‘The Triangle of Service’ Image as a Managed Perception Customer Relations in Services Marketing 13

14. What is a Service ? Defining the Essence • An act or performance offered by one party to another (performances are intangible, but may involve use of physical products) • An economic activity that does not result in ownership • A process that creates benefits by facilitating a desired change in customers themselves, or their physical possessions, or intangible assets

15. CONSUMER AND MARKET SEGMENTATION Introduction Mass Markets and Segmentation Types of Consumer Segments Characteristics of Segments Benefits and Disadvantages of Market Segmentation Alternative Strategies Evaluation Marketing Segmentation Strategy: Techniques Application of Segmentation to Banking Services

16. MARKETING RESEARCH Market Research is Research all about the Market Its Size, Composition, Structure and so on Marketing Research Process Types of Data----Primary and Secondary Data Quantitative and Qualitative Research Methodologies Time and Cost Constraints The Major Uses of Marketing Research Marketing Information System 16

17. MARKETING MIX Marketing of Financial Services Bank Marketing Marketing Mix Services Marketing Mix Current Development 17

18. COMPETITIOR ANALYSIS Introduction Gap Psychiatry – A Structural Methodology Build a Strategic Planning Knowledge Base Creating a Sustainable Advantage Speeds as Strategy Competitive Strategies 18

19. PRODUCT STRATEGY Nature of Product Product and Service Elements of Product Mix Product Life Cycle and Product Strategies Product Analysis New Product Development Branding in Marketing Role of Brand in Bank Marketing 19

20. THE CONCEPT OF PRODUCT/SERVICE DELIVERY Process Cycle in Product Development Packaging and Delivery 20

21. PRICING STRATEGY AND ITS APPLICATION IN BANKING Pricing for Profitability Elasticity of Demand Pricing Methods/Strategies Pricing Decisions Pricing Concept in Banking Pricing Review and Committees Concept of Service Fees 21

22. BANK DISTRIBUTION STRATEGY Distribution of Financial Services Barriers Channels of Distribution for Banks 22

23. PRODUCT STRATEGY Introduction Communication Process Goals of Communication Advertising and Sales Promotion Sales Promotion Publicity Internal Communication Marketing Information Systems (MIS) Concept of Moments of Truth Customer Care 23

24. SALES TRAINING AND HRD IN MARKETING Proper Attitude Orientation of Staff Selling Skills Required Need and Importance of Sales Training Sales Training and Strategy Selling Process Impact of Training as HRD Intervention in Marketing Direct Sales Force Importance of Quality Service Public Relation and Institution Image 24

25. EMERGING TRENDS IN CUSTOMER SERVICE • CUST SERVICE AS A MARKETING TOOL • INTERNAL CUSTOMERS HRD

26. QUOTES • IF YOU BUILD A GREAT EXPERIENCE, • CUSTOMERS,TELL EACH OTHER • ABOUT THAT . • WORD OF MOUTH IS VERY POWERFUL. Jeff Bezos

27. QUOTES • Customers don’t expect you to be perfect • They do expect you to fix things when they go wrong. • Donald Porter

28. QUOTES • Customer service is awareness of • needs, • problems, • fears and • aspirations.

29. QUOTES • Quality in service or product • is not what you • put into it. • It is what the client or customer • gets into it Peter Drucker

30. QUOTES • Our greatest asset • is the customer. • Treat each customer • as if they are the only one! Laurice Leito

31. QUOTES • It takes less effort to keep an old customer satisfied • than to get a • new customer interested Robert Half

32. QUOTES • What you give is • what you get returned i.e. • the way you handle your employees • is the way they will handle (manhandle) your customers. • “E.D.HORRELL”