Marketing of Banking Services

Marketing of Banking Services

UNIT I: Introduction Marketing concepts and their Application to Banking Industry-Marketing Concepts and elements-Why Marketing?-Special features of Bank Marketing-Product and Service Marketing.

UNIT II: Environmental Banking Environmental Scanning – Assessment and Management of Competition – Macro and Micro factors influencing the market goods and services – Applicability to Banking – Banking regulation and its impact on Bank marketing strategies – Understanding competition – Identification of competition and their focus – Strategic benefits of Good competition – What makes a good competitor?.

UNIT III: Consumers on Modern Banking Customer Need Analysis and Customer Care: Customer Focus-Understanding Customer Need – Customer Care – Consumer motivation and Buying behaviour – Perception I behaviour-Other factors affecting buying behaviour-Decision making process-Individual and Organizational Selective exposure-Selective distortion-and effect on consumer behaviour.

UNIT IV: Marketing & Banking Services Market Segmentation (banking) – Product Designing – Marketing – Feedback and Review – Purpose and content of product I Market expansion – Mass Marketing and Marketing Segmentation – Definition of Market Segmentation – Characteristics of a Viable Market Segment-BenefitsfromMarketSegmentation-Disadvantages-MarketSegmentation Techniques for personal and corporate customers.

UNIT V: MIR Market information Research- Definition of Marketing Research and Market Research Differences – Contributions of Marketing Research to a Bank – Types of data – Primary and Secondary-Management Information System and Marketing Research-Need for situation analysis – Steps involved in the development of a Situation Analysis – objective, strategies and tactics sources of information for situation analysis.