service sector management icici bank
TRANSCRIPT
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Name:-Amar Ravi Itagi.
T.Y.BMS-A
Roll no:-31
Subject:-Service Sector Management Submitted to:-Archana Nair
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Acknowledgement
I are very grateful to our institution for encouraging me and
making me understand the value of making project file on different
subject. I got wide information about the subject and especially about
the respective topic that has been selected.
My special thanks to Mrs. Archana Nair for her kind
cooperation and proper guidance and valuable contribution.Further I also thanks to our principal & coordinator for
supporting me to carry out this activity with great interest.
Thus I appreciate the cumulative affords of all mentioned
above in preparing this project file and contributing their valuable
time to make it a successful one.
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VIDYA PRASARAK MANDALS
K.G. JOSHI COLLEGE OF ARTS & N.G.
BEDEKAR COLLEGE OF COMMERCE
THANE
NAAC ACCREDITED (A)*****
CertificateThis is to certify that
S.no Name R.No.
1. Amar Ravi 31
of the T.Y.BMS -A class has satisfactorily carried out the
required project work in Service Sector Management and thatthis project file represents their bonafied work during the year
2012-2013.
Date ________
Professor in-charge
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CONTENTS
Introduction Characteristics of service industry PEST Analysis Segmentation Target market selection of ICICI Bank Positioning 7Ps of marketing of ICICI Bank Maintaining the service quality Complaint Handling Webliography
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Introduction
OVERVIEW
ICICI Bank(formerly Industrial Credit and Investment Corporation of
India). ICICI Limited was established in 1955 by the World Bank, the
Government of India and the Indian Industry, for the promotion of
industrial development in India by giving project and corporate finance to
the industries in India.
ICICI Bank has grown from a development bank to a financial conglomerate
and has become one of the largest public financial institutions in India.
ICICI Bank has financed all the major sectors of the economy, covering
6,848 companies and 16,851 projects. As of March 31, 2000, ICICI had
disbursed a total of Rs.1,13,070 crores, since inception.
ICICI Bank Fact Files:
Total assets: Rs.146,214 crore (December 31, 2004)
Network: 530 branches
ATMs: Over 1,880
Abroad Subsidiaries: United Kingdom and Canada
Abroad branches: Singapore and Bahrain
Representative offices: United States, China, United Arab Emirates, andBangladesh and South Africa.
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Characteristics of service industry
1. Intangibility:Intangibility is an important consideration that complicates the functional
responsibility of a manager in a bank specially for influencing the customers
and prospect the tangible nature of goods which can be even tested and
make a trail.
For example: the ICICI bank promotes the sales of credit cards by visualizing
the convenience and comforts to the holder of the credit card.
2. Inseparability:It refers to the service provider and the physical connection to the service
being provided and the customers involvement.
For example: Under ICICI bank, the employee should be available at its desk
for providing the service and also, an individual who is willing to open an
account and enjoy the service.
3. Heterogeneity:Every individual demand a different type of service and hence in connect
with ICICI bank not all ordinary individuals would find its services
interesting.
4. Ownership:When a service is performed, no ownership is transferred from the seller to
the buyer.
For example: when an individual uses the DEMAT services of ICICI bank , no
ownership of ICICI is transferred by the service provider to the user but
only the provider is selling the right to use the service.
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5. SimultaneityServices cant be delivered to the customers or users since services dont
move through channel of distribution. For availing the service it is essential
that the users are brought to the provider or vice-versa.
For example: If an customer of an ICICI bank want to withdraw cash from
his A/C then the user has to go the service provider to avail the service.
6. Quality measurement:In service the quality, it is difficult to judge because it is different
everywhere.
For example: ICICI provides different services as compared to HDFC bank
and hence the quality measurement is difficult.
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PEST Analysis
The following are the effect of the external environment on icici bank:-
P(Political):-
The effect of political environment on the banking industry is as follows:
The Bank has to always follow the rules set by the RBI The banks are not allowed to create their own Rules. They can offer various benefits to the customers but hav to follow the
minimum rules or the benefits set by RBI
E(Economical)
There are various economical effects on the banking sector. The RBI sets the rules or the interest chargeable/Interest Payable as
per the countrys economic position/competition
The RBI charges higher rate of interest if the demand of loanincreases at a greater extent
S(Social)
The effects of society has an impact on the banking sector For eg:-The bank may be kept working on Sundays for the people are
more of working group
T(Technological)
The growing technology has to be upgraded/adopted for being in along run
Now a days there are many technical innovations which have to beadopted so that the customers can operate the bank account from
any place in any corner of the world
The technology can be used for money transfer or withdraw theircash any time.
They can perform online transactions for booking or ordering.
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SegmentationFor young children
ICICI Bank Young Stars Account (Savings Account)
This is a Savings Account designed for children whose age is between 1 day
and 18 years. Though this account is in the name of your child, you will
have complete control over it. This account will help your commitment
towards saving for your child.
ICICI Bank Fixed Deposit
Fixed Deposits are considered to be safe investment options that give a
fixed rate of return. You can choose amongst a wide range of Fixed Deposittenures, depending upon the anticipated time frame you have for realising
your dreams.
ICICI Bank Dream Education Plan (Recurring Deposit)
Recurring Deposits are an ideal way to invest small amounts of money
every month and end up with a reasonable amount on maturity. Recurring
Deposits bring discipline in your investment approach. It works in the
background and before you realise it, you have gained with your
investment.
ICICI Prudential Child Care Plan (Mutual Fund)
A Mutual Fund is a professionally managed investment tool through which
your savings get split and invested into different investment options which
give different returns. It has the potential to generate high returns for your
savings. Through the Child Care Plan you get 2 options to choose from,
depending upon the time frame of your investment.
ICICI Pru SmartKid Premier (Unit Linked Insurance Plan)
ICICI Pru SmartKid Premier is designed to provide adequate money at key
educational milestones of your child. It provides a comprehensive safety
net for your child by offering Single Life (single parent) and *Joint Life
(both parents) coverage options.
For Senior Citizens Savings Scheme
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Senior Citizens Savings Scheme, 2004
Senior Citizens Savings Scheme Details:
Senior Citizens Savings Scheme (SCSS) is a Government of IndiaProduct.
9% interest offered to depositors. Since the product is offered by Govt of India, this product is one of the
most Safest Investment Option.
Premature closure of account is possible after one year from the dateof opening the account.(Charges applicable).
Advantages of ICICI Banks Senior Citizens Savings Account::
Large number of Branches. Facility ofDirect Credit of Interestto ICICI Bank Account. In case the investor does not want to avail Direct Creditfacility or
ECS facility, 4 Post Dated Cheques will be sent to Investor every year.
Account Statement containing the details of Deposit Balance &transactions.
Phone Banking Facility (for Queries).Privilege Account Services
ICICI Bank brings the Privilege account services to our Senior Citizen
customers. A senior citizen can opt for any of our three Senior Citizen
privilege accounts.
Silver Senior Citizen Privilege Account Gold Senior Citizen Privilege Account Titanium Senior Citizen Privilege Account
http://www.icicibank.com/Personal-Banking/account-deposit/lifeplus-senior-citizen-savings-account/privilege-account-services.html#Silverhttp://www.icicibank.com/Personal-Banking/account-deposit/lifeplus-senior-citizen-savings-account/privilege-account-services.html#Silverhttp://www.icicibank.com/Personal-Banking/account-deposit/lifeplus-senior-citizen-savings-account/privilege-account-services.html#Goldhttp://www.icicibank.com/Personal-Banking/account-deposit/lifeplus-senior-citizen-savings-account/privilege-account-services.html#Goldhttp://www.icicibank.com/Personal-Banking/account-deposit/lifeplus-senior-citizen-savings-account/privilege-account-services.html#Titaniumhttp://www.icicibank.com/Personal-Banking/account-deposit/lifeplus-senior-citizen-savings-account/privilege-account-services.html#Titaniumhttp://www.icicibank.com/Personal-Banking/account-deposit/lifeplus-senior-citizen-savings-account/privilege-account-services.html#Titaniumhttp://www.icicibank.com/Personal-Banking/account-deposit/lifeplus-senior-citizen-savings-account/privilege-account-services.html#Goldhttp://www.icicibank.com/Personal-Banking/account-deposit/lifeplus-senior-citizen-savings-account/privilege-account-services.html#Silver -
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All the senior citizen account features apply to these accounts along
with certain added benefits.
Silver Senior Citizen Account
The Silver Senior Citizen Privilege Account brings to you exclusive benefits,
especially created for valuable customers like you.
Enjoy the following additional features on your Silver Privilege SeniorCitizen account:
Waiver on charges on Multicity chequebook upto Rs 1 lac per days Free Payable-at-par chequebook Waiver of DD/PO charges for upto Rs.100,000 per day Discount on annual fee for Safe Deposit Lockers Preferential rates for Gold Coins Better rates for Foreign Exchange Service Special Asset deals from time to time
The minimum Monthly Average Balance (MAB) requirement for Silver
Savings Account is Rs. 25,000. Non-maintenance of the required MAB in
any month attracts a charge as per the following guidelines:
If MAB is between Rs.25,000 and Rs.10,000, charge of Rs.175* permonth will be levied
If MAB is between Rs 10,000 and Rs 5,000, charge of Rs 250* permonth will be levied
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If MAB falls below Rs 5,000, charge of Rs.350* per month will belevied
*Waiver of non-maintenance of MAB charges subject to FD of min Rs.1.25
lacs in the same CUST ID
Gold Senior Citizen Privilege Account
The Gold Senior Citizen Privilege Account brings to you exclusive benefits,especially created for valuable customers like you.
Enjoy the following additional features on your Gold Privilege Senior
Citizen account:
Free Unlimited Non-ICICI Bank ATM usage Jump Queue facility at branches Free International Gold Debit card with a per day withdrawal /
spending limit of Rs. 50,000
Free Payable-at-par chequebook Free Anywhere Banking Waiver of DD/PO charges for upto Rs.100,000 per day Priority processing through ICICI Bank Phone Banking Discount on annual fee for Safe Deposit Lockers Preferential rates for Gold Coins Better rates for Foreign Exchange Service Special Asset deals from time to time
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The minimum Monthly Average Balance (MAB) requirement for Gold
Privilege account is Rs. 50,000. Non-maintenance of the required MAB in
any month attracts a charge* as per the following guidelines:
If MAB is between Rs.50,000 and Rs.25,000, charge of Rs.100* permonth will be levied
If MAB is between Rs.25,000 and Rs.10,000, charge of Rs.175* permonth will be levied
If MAB is between Rs 10,000 and Rs 5,000, charge of Rs 250* permonth will be levied
If MAB falls below Rs 5,000, charge of Rs.350* per month will belevied
*Waiver of non-maintenance of MAB charges subject to FD of min Rs. 2.5
lacs in the same CUST ID
For more information on our Privilege Banking Accounts, click here.
Titanium Senior Citizen Privilege Account
The Titanium Privilege Senior Citizen Account brings to you exclusive
benefits, especially created for valuable customers like you. To retain this
elite membership of Titanium Privilege , you need to maintain Total
relationship value (TRV#) of Minimum 5 lakh.
Enjoy the following additional features on your Titanium Privilege Senior
Citizen account:
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A dedicated Branch Relationship Manager Priority processing at all ICICI Bank branches and through Customer
Care
Free international Titanium Debit Card A higher daily withdrawal and spend limit on the Titanium debit card Unlimited free access to any bank's ATM throughout the country Free multi-city cheque book Free physical monthly account statement. Anywhere Banking Complete waiver of Demand Draft / Pay Order charges Special deals on car loans, personal loans and two-wheeler loans Preferential rates for Gold Coins Better rates for Foreign Exchange Service
The minimum Monthly Average Balance (MAB) requirement for Titanium
Privilege Account is Rs. 75,000. Non-maintenance of the required MAB in
any month attracts a charge* as per the following guidelines:
If MAB is between Rs.75,000 and Rs.50,000, charge of Rs.50* permonth will be levied
If MAB is between Rs.50,000 and Rs.25,000, charge of Rs.100* permonth will be levied
If MAB is between Rs.25,000 and Rs.10,000, charge of Rs.175* permonth will be levied
If MAB is between Rs 10,000 and Rs 5,000, charge of Rs 250* permonth will be levied
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If MAB falls below Rs 5,000, charge of Rs.350* per month will belevied
*Waiver of non-maintenance of MAB charges subject to FD of min Rs. 3.75
lacs in the same CUST ID
The TRV consists of the following products either singly or jointly:
Balances in bank accounts
Fixed Deposits Mutual Funds Bonds / Small Savings Investment portion of Life Insurance policies Alternative Products (Real Estate Funds, Private Equity Funds, Structured Products etc.)
All above investment should be done with ICICI Bank.
Working age group:-
All the rest of the services are for the working age group.
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Target market selection of ICICI Bank
Automobiles Construction Education Transport Retail Trade Travel and Tourism Gems and Jewelries
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Positioning
ICICI bank uses the strategy ofBENEFIT POSITIONING
In this type of positioning most service providers resort too benefit
positioning as general psyche of the customer it is to analyses the benefitthat he derives by using particular service.
ICICI bank offers ATM and internet banking to their customers.
Core proposition Hum hain na trust, credibility, total financial
solution provider (brought about through its cross selling effort)
Brand Positioning Strategies
ICICI Lombard:
1) Very Simple Strategy by tapping the rural market against the urbanmarket.
2) Tie ups with various dairy companies and banks.
ICICI Prudential:1) Launching of new policies which guaranteed income at very low risks.
2) Continuation of life insurance policies which offered insurance also in
the scenario where there was break in the premium.
3) Feel good factor for the strata of the people nearing retirement.
ICICI Home Loan:
1) Higher income savings for people holding high cost loans.
2) Transferring of normal loans to the ICICI home loan.
3) Prepayment on the old loan and processing fee on new loan.4) Free door to door service.
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7 Ps Of Marketing of ICICI Bank
Marketing of services by ICICI bank
1. PRODUCT MIX
A)DEPOSITS:
Savings Account:
ICICI Bank offers a potheyr packed Savings Account with a host of
convenient features and banking channels to transact through, without the
stress of waiting in queues.
Senior Citizen Services:
ICICI understands that a Savings Account needs to do more after one
reaches the age of seniority. They have an ideal Savings Bank Service for
those who are 60 years and above
Fixed Deposits:
Safety, Flexibility, Liquidity and Returns. A combination of unbeatablefeatures of the Fixed Deposit from ICICI Bank.
Recurring Deposits:
Through ICICI Bank Recurring Deposit one can invest small amounts of
money every month that ends up with a large saving on maturity. So one
can enjoy twin advantages- affordability and higher earnings.
B) INVESTMENTS:
ICICI Bank Tax Saving Bonds Government of India Bonds Investment in Mutual Funds Initial Public Offers by Corporates Investment in "Pure Gold" Foreign Exchange Services Senior Citizens Savings Scheme, 2004
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C) 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 extensioncounters, 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
D) LOANS:
ICICI Bank offers wide variety of Loans Products to suit the customers
requirements. Coupled with convenience of networked branches/ ATMs
and facility of E-channels like Internet and Mobile Banking, ICICI Bank
brings banking at their doorstep
Home Loans
Some of the key benefits for HOME LOAN are:
Guidance throughout the process Home loan amounts suited to their needs Home Loan tenure up to 20 years Simplified Documentation Doorstep Service Sanction approval without having selected a property. Free Personal Accident Insurance Insurance options for their home loan at attractive premium
Personal Loans
Key Benefits of ICICI Bank Personal Loan:
Loan up to 15 lacks No security/guarantor required Faster Processing Minimum Documentation Attractive Interest Rates 12-60 Months repayment options
http://www.icicibank.com/pfsuser/channels/mobile/mobile.htmhttp://www.icicibank.com/pfsuser/channels/mobile/mobile.htmhttp://www.icicibank.com/pfsuser/channels/mobile/mobile.htm -
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Car Loans
ICICI offer loans up to 100% of `on-road' cost on select models, and up to
95% of the ex-showroom price on others. The process for getting a loan
involves only a few simple steps and they will tailor-make the loan to suittheir needs.
1. Loan on Phone for Customers: If you are an ICICI Bank customer, Go for a
pre-approved car loan. Call Customer Care numbers or sms "carloan "
to567676.
2. Loan on the Strength of Their Income: Submit income proofs as required
and avail of finance up to 100% of the `on-road' cost of the car!*
3. Loan in the absence of Income Proof: ICICI offer car loan for customerswithout income proof on producing the bank statement, loan repayment
track record, etc.
4. Car Loans with Fixed and Floating Interest Rates: ICICI Bank now offers
new car loans with both fixed and floating interest rate options. The
customer can opt for fixed interest rate or floating interest rate for taking a
car loan from ICICI Bank according to his/her discretion.
Farm Equipment Loans
Preferred financier for almost all leading tractor manufacturers in thecountry. Financing farm equipments in over 381 locations spread across
the country. Fast processing of files with easy documentation. Flexible
repayment options in tandem with the farmer's seasonal liquidity. Monthly,
Quarterly and Half-yearly repayment patterns to choose from. Comfortable
repayment tenures from 1 year to 6 years.
Loan against Property
Loan against Property is the perfect way to unlock the hidden value of their
property. With this loan, you can fully benefit from life's little surprises you
may have earlier passed over due to lack of funds. Live their dreams with a
This multi-purpose loan puts funds at their disposal to use as you wish.
This loan is available at a reasonable rate and can be repaid comfortably
over as many as 15 years. The ICICI Bank's Loan against Property can be
used for any purpose.
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Expand their business - No longer do you have to stifle their creative
ideas. With funds at their disposal, you can now expand their business
without hesitation. ICICI helps you to meet all their expenses with ease--
when you take an ICICI Bank Loan against Property.
Send their child for higher studies - Education is the cornerstone of their
family's progress. With a Loan against Property, you can empathy their son
or daughter to grow into an outstanding achiever.
Get their child married - Put aside all their monetary worries and
celebrate their childs their wedding with pomp and splendor. Meet all their
expenses with easewhen you take an ICICI Bank Loan Against Property.
Farmer Finance
Providing finance to the farmer for his various needs of inputs andconsumption in the form of crop loans, dairy loans and loans for allied
activities to agriculture like irrigation etc. for input needs and auto loans
(two, three and their wheeler) and personal loans for consumption needs.
The customer can also avail of working capital term loan for setting up a
poultry project. Flexible repayment pattern and tenure to align to the cash
flow of the customers.
Rural Education Loan
ICICI Bank Rural Educational Institution Finance (REI) caters to the need of
privately runs Educational Institution based out of Rural, Semi Urban and
outside city limit locations. The product is designed to cater to the specific
needs of the education institutions. New products and features in the
existing product are introduced based on regular customer feedback.
E) CARDS:
ICICI Bank offers a variety of cards to suit different transactional needs of
customers. This includes Credit Cards, Debit Cards and Prepaid cards.
These cards offer convenience during financial transactions like cash
withdrawal, shopping and travel. These cards are widely accepted both in
India and abroad.
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Credit cards
ICICI Bank Credit Cards offer a smart way to shop, along with flexibilityand convenience in managing their finances. Choose from a wide range ofcredit cards designed to cater to their specific lifestyle requirements.
Commercial cards
ICICI Bank Commercial Cards have been designed as payment solutions for
large & mid-sized organizations. A widely accepted concept internationally,
Commercial Cards help to better streamline payment processes & thusincrease efficiencies.
Business Card
The ICICI Bank Business Card is aimed at SMEs as an enabler for their
business. The Business card is a smart alternative to cheques, cash, and
personal credit cards. With its purchasing convenience, cost savings,
available credit, and detailed reporting facilities, the ICICI Bank Business
Credit Card offers what their business needs to stay on top.
Travel Card
Presenting ICICI Bank Travel Card. The hassle free way to Travel the
world. Traveling with US Dollar, Euro, Pound Sterling or Swiss Francs;
Looking for security and convenience; take ICICI Bank Travel Card. Issued
in duplicate. Offers the Pin based security. Has the convenience of usage of
Credit or Debit card.
Debit Cards
The ICICI Bank Debit Card is a revolutionary form of cash that allows
customers to access their bank account around the clock, around the world.
The ICICI Bank Debit Card can be used for shopping at more than 3.5 Lakhmerchants in India and 24 million merchants worldwide.
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F) DEMAT SERVICES:
ICICI Bank Demat Services boasts of an ever-growing customer base of over
7 lacs account holders. In their continuous endeavor to offer best of the
class services to customers they offer the following features:
E-Instructions:
Transfer securities 24 htheirs a day, 7 days a theyek through Internet &
Interactive Voice Response (IVR) at a lotheyr cost.
Digitally Signed Statement: Corporate Benefit Tracking: Mobile Request: Mobile Alerts:
G) 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.
ICICI Bank Mobile Banking can be divided into two categories of facilities:
Alert facility: The ICICI Bank Mobile Banking Alert facility informs youpromptly of the significant transactions in their accounts. It keeps youupdated wherever you go.
H) NRI SERVICES:
ONLINE MONEY TRANSFER facility available to NRIs worldwide through
www.money2India.com at the click of a button!
Benefits:
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 their funds SUPERIOR Exchange rates OFFLINE MONEY TRANSFER facility is also available across
geographies through
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2. PRICING MIX:
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 withregulations. 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--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 toestablish a correlation bettheyen two. It is essential that both the buyers as
well as the sellers have feeling of winning.
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3. PLACE MIX:
This component of marketing mix is related to the offering of services. The
services are sold through the branches. The 2 important decision making
areas are:
Making available the promised services to the ultimate users Selecting a suitable place for bank branches.
The number of branches OF ICICI: 1900 in India and 33 in Mumbai.
LOCATION OF BRANCH:
Palm Ctheirt, Ram Maruti Road, Naupada, Thane (W).
LOCATION OF ATMS:
ICICI Bank has more than 25 ATMs in Thane and has been steadily
installing ATMs at new locations for the convenience of the users. The
following are the ICICI ATMs in Thane.
GREEN ACERS VIJAY NAGARIRAMCHANDRA NAGAR
ADDICHA TOTHEYRS
SHREEJI ARCADE
VARTAK NAGAR BRANCH
VASANT VIHAR
GHODBUNDER ROAD
GOKHALE ROAD
HAPPY VALLEY, THANE
KALWA NAKA
PANCHPAKHADI
The selection of a suitable place for the establishment of a branch is
significant with the view point of making place accessible. The safety and
security provisions should be Convenient to both the parties, such as the
users and the bankers
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4.PROMOTION MIX:
The different components of promotion help bank professionals in
promotion the banking business.
Advertising: Television, radio, movies, theatres. ICICI uses this componentof the promotion mix with the motto of informing, sensing and persuading
the customers. The advertising professionals bear the responsibility of
making the appeals, slogans, messages more creative.
Print media: Hoardings, newspaper, magazines. There are a number of
devices to advertise, such as broadcast media, telecast media and the print
media
Publicity: road shows, campus visits, Sponsorship
Sales promotion: Gifts, discount and commission, incentives, etc. ICICI also
thinks in fav their of promotional incentives both to the bankers as well as
the customers. The banking organizations make provisions for incentives
Personal selling: Cross-sale (selling at competitors place),personalized
Service. The personal selling is found instrumental in promoting the
banking business. It is just a process of communication in which an
individual exercise his/her personal potentials, tact, skill and ability toinfluence the impulse buying of the customers. Since ICICI gets immediate
feedback, the personal selling activities energies the process of
communication very effectively.
Telemarketing: ICICI one sterile Call center
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5. PROCESS MIX:
Flow of activities:
All the major activities of ICICI banks follow RBI Guidelines. There has tobe adherence to certain rules and principles in the banking operations. The
activities have been segregated into various departments accordingly.Standardization:
ICICI bank has got standardized procedures got typical transactions. In fact
not only all the branches of a single-bank, but all the banks have some
standardization in them. This is because of the rules they are subject to.
Besides this, each of the banks has its standard forms,
Customization:
There are specialty counters at each branch to deal with customers of a
particular scheme. Besides this the customers can select their deposit
period among the available alternatives.
Number of steps:
Numbers of steps are usually specified and a specific pattern is follotheyd
to minimize time taken.
Simplicity:
In ICICI banks various functions are segregated. Separate counters exist
with clear indication. Thus a customer wanting to deposit money goes to
deposits counter and does not mingle elsewhere. This makes procedures
not only simple but consume less time. Besides instruction boards in
national boards in national and regional language help the customers
further.
Customer involvement:
ATM does not involve any bank employees. Besides, during usual bank
transactions, there is definite customer involvement at some or the other
place because of the money matters and signature requires.
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6. PHYSICAL EVIDENCE:
Physical evidence is the material part of a service. Strictly speaking there
are no physical attributes to a service, so a consumer tends to rely on
material cues. There are many examples of physical evidence:
Internet/web pages Paperwork Brochures Furnishings Business cards The building itself (such as prestigious offices or scenic
headquarters)
The physical evidences also include signage, reports, punch lines, other
tangibles, employees dress code etc.
Signage: each and every bank has its logo by which a person can identify
the company. Thus such signage is significant for creating visualization and
corporate identity.
Financial reports: The Companys financial reports are issued to the
customers to emphasis or credibility.
Tangibles: bank gives pens, writing pads to the internal customers. Eventhe passbooks, chequebooks, etc reduce the inherent intangibility of
services.
Punch lines: punch lines or the corporate statement depict the philosophyand attitude of the bank. Banks have influential punch lines to attract the
customers.
Employees dress code: ICICI bank follows a dress code for their internalcustomers. This helps the customers to feel the ease and comfort.
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7. PEOPLE:
All people directly or indirectly involved in the consumption of banking
services are an important part of the extended marketing mix. Knowledge
Workers, Employees, Management and other Consumers often addsignificant value to the total product or service offering. It is the employees
of a bank which represent the organization to its customers. In a bank
organization, employees are essentially the contact personnel with
customer. Therefore, an employee plays an important role in the marketing
operations of a service organisation. To realize its potential in bank
marketing, ICICI is conscious in its potential in internal marketing - theattraction, development, motivation and retention of qualified employee-
customers through need meeting job-products. Internal marketing paves
way for external marketing of services. In internal marketing a variety ofactivities are used internally in an active, marketing like manner and in a
coordinated way. The starting point in internal marketing is that theemployees are the first internal market for the organization. The basic
objective of internal marketing is to develop motivated and customer
conscious employees. A service company can be only as good as its people.
A service is a performance and it is usually difficult to separate theperformance from the people. If the people dont meet customers'
expectations, then neither does the service. Therefore, investing in people
quality in service business means investing in product quality. ICICIunderstands the needs of customers and therefore it is leveragingtechnology to service customers quickly and conveniently. ICICI aims at
Providing and enabling favorable environment to foster growth and
learning for their employees
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Maintaining the service quality
1. Bank believes in quality service rather than quantity ofservice.
2. The officials employed are very much enthusiastic about their job.
3. The officials try to make best relation with the customers.
4. There is separate counter for NRI services.
5. The limit of cash vault is Rs. 10, 00,000 for a day.
6. The registers and files are maintained on a daily basis.
7. The registers are maintained in a well organized manner.
8. The marketing strategy of the bank is very attractive.
9. The bank always tries to attract customers with innovative offers.
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Complaint Handling
It is ICICI Banks policy to ensure that:
All customers are treated fairly at all times.
Any complaints raised by customers are dealt with courtesy and on
time.
Customers are fully informed of their rights to alternative remedy if
they are not fully satisfied with the response of the Bank to their
complaint. All complaints will be treated efficiently and fairly. The
bank will work continuously towards providing quality service to its
customers. The bank will always act in good faith and withoutprejudice to the interest of the customer.
The banks Complaint Handling Process will be available to
customers on request.
The bank shall also ensure that all employees concerned will be
informed about the
Complaint Handling Process and its subsequent updates.
1. Complaint Definition: Any expression of dissatisfaction about a product
or service that is not resolved at the first point of contact is a complaint.
2.Multi-channel customer service strategy: The banks customer service
strategy is to enable customers to avail of services through multiplechannels. The various channels available to customers for redressal of
issues are as follows:
i. Customer Care: Customers can contact our Customer Care officers
through phone for redressal of issues.
ii. Branch: Customers can walk into any ICICI Bank branch and speakwith branch officials for resolution of their issues.
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iii. E-mail Retail customers can e-mail their issues to
[email protected] and corporate customers can send an
e-mail to [email protected].
iv. Customers may send a letter to:
ICICI Bank Limited
ICICI Bank Phone Banking Centre
P. O. Box No. 20
Banjara Hills P. O.
Hyderabad 500 034
India
v. Internet Banking: Customers can write to Accounts Manager, which
is available after logging in to their accounts through our Internet
Banking.
vi. Escalation: If a customer is not satisfied with the resolution
provided through these channels, he can ask for the contact details of
senior officials and can escalate the issue to them.Complaint plaques providing details of the Regional Manager Branch
Banking are put up in every branch. Customers who are dissatisfied
with the services provided to them can contact the Regional Manager.
If the customers issue is not resolved even after contacting various
complaint resolution channels, he/she can write to the Head
Customer Service Quality at:
Head Customer Service Quality
ICICI Bank LtdBandra Kurla Complex
Mumbai 400053
Or send an e-mail to:
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3. Process Improvements:
The complaints would essentially provide valuable insight into
weaknesses within the banks internal processes and procedures
(including automated processes) that have a negative impact on the
banks ability to conduct its business efficiently and successfully.
The bank has institutionalized a detailed multi-step process of Root
Cause Analysis for escalated complaints to:
Identify and extract issues that concern the customer
Obtain feedback from units who interacted with the customer i.e.
branch and Customer Care
Map processes of handling the issue, determine if the current
process is followed optimally
Identify root causes of complaints and erring units, if any
Initiate process changes, if required
Track the impact of process changes.
Webliography
www.google.com www.icicibank.com www.wikipedia.com www.onpaper.com
http://www.google.com/http://www.google.com/http://www.icicibank.com/http://www.icicibank.com/http://www.wikipedia.com/http://www.wikipedia.com/http://www.onpaper.com/http://www.onpaper.com/http://www.onpaper.com/http://www.wikipedia.com/http://www.icicibank.com/http://www.google.com/