Hum hain na!

Marketing Strategy of ICICI Bank Ltd.

Deposit ProductsPresented By: Sanjog Devrukhkar (Roll No.:

11)

Hum hain na!

Introduction

• India’s second largest bank• 614 branches and extension

counters• 2200 ATM’S• Biggest private sector bank

in India• Most valuable bank in India

in terms of market capitalization

• Described by the competitors and industry expert in one word – “Aggressive”

Hum hain na!

Firsts in the Industry

• Introduced concept of branding in the Indian banking industry

• Process, People and Physical evidence – brought to life by ICICI

• Product Innovation • Introduction of DSA’s and DST’s• Unleashed the power of the internet • First bank to focus on retail banking as a driver for

growth• Comprehensive data centre availability & data

protection solutions

Hum hain na!

Focus areas of marketing effort

• Target marketing and customer acquisition• Share of wallet• Channel strategy and management• Relationship management and database

marketing• Product development & innovation• Credit approval

Hum hain na!

Basis for segmentation

• Occupation Different products for different occupational segment

identified • Income Minimum balance serves as a income segment

barrier• Geographical Concentrated on Tier 1 & Tier 2 Cities trying to

extend reach• Age Different products like student account

Hum hain na!

Nature of banking in India

Banking in India was focused on the upper income group

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Targeting

DifferentiatedMarketing Strategy

• Tailors its marketing campaigns to meet the needs of its target prospects

• Creates differentiated product offering for different segment

• Use of technology in tracking customer segment

Hum hain na!

Positioning

• Core proposition – ‘Hum hain na’ – trust, credibility, total financial solution provider (brought about through its cross selling effort)

• Modernization – process and physical evidence – technology as the backbone and accelerator

Hum hain na!

Need identification• Adapting international practices to the local context• Information system warehouse• Product development department – continuously

studies market and analyses competitive landscape

ICICI Bank

Personal BankingNRI Banking Corporate Banking

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Product differentiationVariants in various basic products like savings bank accounts to suit different customer base and customer needs

Product augmentation Redefinition of the banking products with extra

benefits and features added to the products

•Penetrative pricing aimed at achieving large market share•Philosophy of profit through volume•Effort to drive out competition•Price leader in retail banking product•Aggressive pricing facilitated through low cost of fund acquisition

Pricing

Hum hain na!

Distribution Strategy• Cross selling of products as a major area of focus• Creation of concept of DSA (Direct Selling Agent)• Creation of concept of DST (Direct Selling Team)• Effort on the part of the bank to reach the customer

rather than waiting for the customer• Use of internet, mobile, ATM’s and other technological

device to reach and serve the customers

Hum hain na!

Product Promotion

• Aimed at generating sales

• Communicates product features and benefits

• Mainly through print media

• Point of purchase promotion tools for different products to reach the relevant customer segment

PromotionStrategy

CorporateBranding

Product Branding

Hum hain na!

A man strolls down a beach, "Zindagi naam hai, mushkil ko aasaan banaane ka. Zindagi naam hai zindagi ko aasaan baane ka."

Cut to a house, a man addresses the members, "I am Ajay Sharma from ICICI. Ma'am your home loan has been sanctioned."

Amitabh Bacchan turns to face the camera, "Bas. Ek bharosemand saathi hona chahiye."

MVO: "Saathi jo zindagi ko aasan banaaye." Super: 'ICICI Group. Saral. Surakshit. Samajhdar.'

Hum hain na!

An old woman tells her daughter about their neighbour's plans for going to Haridvar

"Ab is umar mein kya jaayenge? You want to ka matlab nahin you have to", continues the mother.

While the young woman, with her ICICI credit card, books tickets for her, online.

As the older woman takes a peek at the screen, she is pleasantly surprised.

The site downloads and the super reads, 'Haridwar in a week.' As the daughter tries to convince her...

...the MVO adds "ICICI Credit cards. The power to give your loved ones what they really, really want."

Hum hain na!

A couple enter ICICI Bank and are served coffee as they wait to open an account.

Super: How long does it take to open an account with ICICI Bank?

The man takes a swig from his cup... Super: Before your coffee goes cold. The executive smiles at their...

... disbelief and hands over the documents. VO: Have you opened an ICICI Bank account as yet?

Hum hain na!

Public RelationsPurpose - To deliver communication that is uniform in its message and

yet customized for specific target audiences

Media relations– Press conferences– Press Releases– 1-1 interviews

• Investor relations

• Analyst relations

• Government relations

Hum hain na!

Outdoor Activities

‘Need to be seen…everywhere!!’

• Events at corporate campus

• Promotional material at channel partner outlets

• Billboards• Signboards• Kiosks in residential

and commercial complexes

Hum hain na!

Other Initiatives • In-film promotions – Baghban

• Co-Branding Initiatives – Alliance with Amway India for launch of

the international credit card. The card will enable Amway distributors to purchase Amway products and earn and redeem reward points

– Indian Railways Catering And Tourism Development Corporation, in conjunction with ICICI Bank, announced the launch of mobile payments and ticketing system, offering IRCTC customers to book railway tickets via SMS and make payments through their ICICI Bank accounts

Hum hain na!

Other Initiatives

• Cross brand associations - acquiring databases of high net worth clientele of lifestyle products : Tie-up with ‘Woven Hues’

• Young Stars Account – Promotion through tie-up with Cartoon Network, and in-series promotion through Tom & Jerry

• Seminars in partnership with media channels

Hum hain na!

People

• Orientation towards customer service

• Division of SME, Personal Banking and other functions at the branch level

• Effort towards providing sophisticated and modern image of the bank through its people

Hum hain na!

Process• Use of technology for both internal and external

processed • Process are system driven and independent of the

people handling it• Standardization of service across the branches • Extensive investment in software solutions for process

systemization

Hum hain na!

Rural ATMs

Phase 1: Designing and Simplifying

Access via Technology

Cash Agent Model

Phase 2: Designing the Product

Phase 3: Financial Literacy,

Marketing, and Launching the Pilot Product

Hum hain na!

Bibliography

• www.icicibank.com• www.google.com• IIBF Vision – A monthly Newsletter on Banking

and Finance• Business Today – Weekly Business Magzine• Newspapers

Hum hain na!