Icici bank is determined to improve the understanding between the employees and the customers for a longlasting relationship. Icici bank download and upload project reports related. The objective of this project is comprehensive and comparative study of the marketing strategies of icici bank. Abstract marketing communication becomes increasingly necessary in. Icici has always been a pioneer in the indian banking industry specifically retail banking. Aware of the fact that people see us as a leader and an. Pdf international marketing strategy in the retail. Marketing solutions icici bank case study icici bank strengthens its brand among key audience segments with thought leadership campaign on linkedin content is king. Marketing communication strategies of public and private. Scribd is the worlds largest social reading and publishing site. An analysis of the marketing strategy of icici bank in canada reveals that a transnational strategy coupled with an ethnocentric staffing policy allows the parent firm to retain control, while the choice of a subsidiary as an entry mode allows for. This study presents an overview of the marketing strategy that a retail bank may pursue when it targets home country nationals in a foreign market. It helps in defining business goals and developing activities to achieve them.
It is the difference between the interest income generated and the amount of interest paid out to their lenders deposits, divided by total assets. The indian banking industry has come a long way from being a sleepy business institution to a highly proactive and dynamic entity. Pricing a product too high or too low could mean a loss of sales. On september 15, 2008, the announcement of usbased investment banking major lehman brothers that it was closing down due to its exposure to subprime mortgage loans had a huge impact on icici bank. Since there is immense competition, icici bank works on improvement in each level. Icici banks digital strategy also involves improving technology used by the employees for administrative purposes. Icici segmentation, targeting, positioning second chance. Patrick sir guide department of commerce, osmania university, hyderabad.
Marketing strategy an organizations strategy that combines all of its marketing goals into one plan. The enhanced convenience that this offers the customer has supported its customer acquisition efforts and migration of customer transactions from branches to lowercost technologyenabled channels. Learn social media marketing through this post icici bank banking strategy for the next gen. To study the recruitment and selection procedure in icici bank. The present paper focuses on the marketing strategies of sbi and ingv bank for their. Icici bank ltd a scheduled commercial bank was promoted by icici one of the leading financial institution established in 1955 at the initiative.
Its objective of extracting incremental business through existing client, its a policy of icici bank ltd. Icici bank has increased its branch network to 1,400 from 750 in a years time and will have 2,000. Evolution of the entity with respect to time 4 inception 4 establishing synergy. Icici had focussed on various areas of marketing for building its brand. With your download, get the 17 best papers relevant to this one, including 17 top related papers.
Marketing strategy of icici bank icici bank marketing. International marketing strategy in the retail banking. Marketing strategy of icici bank free download as powerpoint presentation. It had introduced concept of branding in the banking industry. Icici bank works not only in india but also in other 19 countries what. To understand how banking services can be marketed better, one must examine bankng as a service industry, in the content of a swiftly changing environment, redefine marketing to suit a bankers needs, analyse how the marketing of financial services differs from that of. In march 2016, the chief executive officer ceo of icici bank ltd. Icici bank marketing mix 4ps strategy posted in services, total reads. The ceo, who had successfully led the bank since 2009, had been featured in two forbes lists of the most powerful women in 2017. The entry of private banks has revamped the services and product portfolio of nationalized banks. The case of icici bank in canada article pdf available in journal of financial services marketing 3. The most important ratio when it comes to banks and financial companies is the is net interest margin.
Also it is the largest new generation bank in terms of branch network. Distribution strategy in the marketing strategy of icici bank. The marketing mix of icici shows why icici is one of the top premium banks in india. An analysis of the marketing strategy of icici bank in canada reveals that a transnational strategy coupled with an ethnocentric staffing policy allows the parent firm to retain control, while the choice of a subsidiary as an entry mode allows for local responsiveness. Marketing communication strategies of public and private sector banks a comparative analysis with special reference to icici bank and state bank of india manisha research scholar, university school of management, kurukshetra university kurukshetra, india. Bank should critically consider fixed and variable costs. Comparative analysis of icici and pnb marketing essay. Icici bank offers a wide range of banking products and financial services to corporate and retail customers through a variety of delivery channels and through its specialized subsidiaries in the areas of investment banking, life and non. Marketing strategies of commercial banks a study on sbi. Icici banks pricing strategy is challenging as it has to tear the hurdles from the traditional banking prices and must reflecton thorough supply and demandmanagement.
Communication in a crisis icici bankmarketingcase study. Helps in increase of sales of products or availing of services. Market strategy of hdfc bank and icici bank srujan kumar. New entrants in money center banks brings innovation, new ways of doing things and put pressure on icici bank limited through lower pricing strategy, reducing costs, and. It is very important of a financial institution to create transparency by winning the faith of its stake holders. Naturally, the bank serves for millions of clients of all kinds, for the physical and corporate customers providing them with all possible types of service. A high content marketing score cms would reflect the banks success in this endeavour. Icici bank history, objectives, functions, financial assistance, roles the ifci and sfcs confined themselves to lending activity and kept away from underwriting and investing in business though they were authorized to subscribe for the shares and debentures of the companies and to undertake underwriting business. For this, it targeted and acquired customers in different market segments. Icici bank has 4100 branches in total which are delivering banking and financial services end to end to the customers.
Icici banks overall social media strategy is subtly leveraged for customer service, product research, gaining customer insights, marketing and the most important of all building a loyal community. Hence we always focus on creating engaging content in a form that is relevant to the medium. Below is the pricing strategy in icici bank marketing strategy. Marketing strategy of icici bank 7 july 2016 a banker or bank is a financial institution whose primary activity is to act as a payment agent for customers and to borrow and lend money. Icici bank limited porter five 5 forces analysis for financial industry threats of new entrants. Amazon pay icici bank credit card an exclusive seven year contract with amazon pay entirely digital and paperless process, digital card can be immediately used for shopping online. Marketing strategy of icici bank marketing business.
Icici bank goes beyond marketing on its facebook page. Majumdar et al 1999 examined the relationship between. Icici, one of the largest private sector banks in india, was accused of nondisclosure and exploitation of conflict of interest by an investor. This means employees can now apply for leave, complete any pending tasks, and.
International marketing strategy in the retail banking industry. Marketing strategies of commercial banks a study on sbi and ing vysya bank in kadapa corporation. In the marketing mix of icici, the product steals the show. Icici bank, like any other bank is governed by rbi guidelines in india.
Icici bank is the company which provides financial and banking services in india and is supposed to be the second biggest bank in the country. Marketing mix created 6 years ago updated 6 years ago by nitya ramuji 0 comments, 6682 views icici bank limited is an indian financial services company headquartered in mumbai, maharashtra. It is a tool for making the customers and consumers aware of the products and services. While formulating marketing strategy, a bank should focus attention on. Icici bank wanted to engage with its audience in a meaningful way.
Consolidation 5 icici bank in the retail sector 6 how it all began 6 icicis perspective of the retail market and the elements of strategy 7 corporate relationships 7 technology 8 operational excellence. Icici was the first indian company to be listed on the new york stock exchange. Analysis of icici bank, branch banking free marketing. This case is set in 1998, when the company had to decide whether to enter the retail credit segment of the indian financial market. The cms considers the brands performance on linkedin based on reach, frequency and engagement. Marketing strategy is the firms productmarket choice which is guided by the environmental necessities and firms objectives and capabilities. The case discusses the crisis communication strategies at indiabased financial banking institution, icici bank ltd. The case should be taken in the marketing of financial services very seriously. The liberalization and economic reforms have largely brought about this transformation. D department of commerce, osmania university, hyderabad.
334 1077 356 578 51 816 842 610 1531 1095 1313 882 1029 1360 360 1159 1565 1300 1156 1132 665 1124 79 906 171 1098 41 314 1329