7 Ps OF MARKETING

Marketing (B.B.I Sem V) Prof Shirley Pillai

GROUP MEMBERS
Milton 8225 Alston Pereira 8248 Jeyson Barboza 8249 Vicky Ramesh 8250 Cliffton Kinny 8251 Gracias

INTRODUCTION
BANK MARKETING THE CONCEPT

JUSTIFICATIONS FOR PRACTISING MARKETING IN BANKS

Understanding the customers Satisfying the customers Excelling Competition Social Orientation Formulating and Innovating the Mixes

7 PS of MARKETING
It is very important for any bank to identify the 7 Ps of services so as understands their customers better and provide them with best of service.

PRODUCT MIX
According to Philip Kotler, a product is anything that can be offered to market for attention, acquisition, use or consumption that satisfy a want or need. It includes physical objects (TV), service (banking), person (political person), place (holiday resort), organization (red cross) and idea (aid awareness).

PRODUCT WIDTH AND DEPTH

PRODUCT WIDTH
Offering ATM Network iconnect-Internet Banking Telebanking 7-Day Banking

Offering
Rewards Dial-A-Draft Credit Limit Increase 24-Hour ATMs Photo card Overdraft facility Free ATM Card

PRODUCT LEVELS

Core Product The basic necessity to use banking services in order to handle finance more efficiently

Basic Product Safety of deposits Loan able funds etc.

Expected Product Timely service Long banking hours Low interest rates

Augmented Product Goods waiting rooms Extensive ATM network Promotiona l Discounts

Potential Product and internet Banking New Schemes tailored for specific customers

PRICE MIX
ATM Card Issue Free 2 ATM cards issued free if it joint account Add on Card Duplicate Card Current Account Transaction Charges Charges for issue of Cheques book Issue of duplicate statement Account closure Rs.100 Rs.100 Rs.25 per page Rs.25 per page NIL NIL NIL RS. 100 Beyond 2 cards Rs.100 Savings Account NIL

Value pricing Mark up pricing Going Rate pricing

Some of the important factors affecting the location analysis of a bank are:
1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12.

The trade area Population characteristics Commercial structure Industrial structure Banking structure Proximity to other convenient outlets Real estate rates Proximity to public transportation Drawing time Location of competition Visibility Access

PROMOTION MIX
Promotion is nothing but making the customer more and more aware of the services and benefits provided by the bank. o SMS services o Finalizing the Budget o Selecting a suitable vehicle Making possible creativity Testing the Effectiveness Instrumentality of Branch Managers

Different Ways Of

Public Relations Personal Selling Sales Promotion Word of mouth Promotion Telemarketing Internet

PEOPLE

PROCESS MIX

PHYSICAL ENVIRONMENT

FUTURE MARKETING IN BANKING