Saturday, April 6, 2019
Marketing of Liability Products of Bank Essay Example for Free
marketing of Liability Products of Bank EssayThere are number of Liabilty products, nearly of the liability products are listed below * Savings Account * Fixed posit Account * Recurring Deposit * Current Account * NRI Account Etc. These products are the basic products of bank which are taking new dimensions in the banking world as the competition is tougher. The products which are mentioned above are the products of Retail Banking. Wholesale banking is a nonher whopping segment of bank which deals with the SME and Corporate clients. WholeSale BankingThough Internet banking as a c at oncept has not caught the fancy of a majority of customers as yet-even the small percentage that does use it, makes a difference to the general cost. Almost all leading banks in India are hoping that just as ATMs saw a geological period of inaction before they were accepted by Indian masses, Internet banking too would be adopted once customers are comfortable with the technology. For instance, in 1998 India had just 500 ATMs today it has close to 7,500. Advertising Boards According to the suit study which we have done in the Bhubaneswar city from Rabi Talkies to Janapath. The Advertising Boards are very rarely utilize , we found only one Hoarding that belongs to Bank of Baroda in Bapuji Nagar and that too was removed after a week from our survey.The other advertisement which is given in the bus stand by HDFC in Lewis Road. abstract Banks believe less on this strategy of advertisement. The Case study was done in a very short distance so this might or might not be the actual situation. Social Media Marketing Strategy * Bank Adverts on certain Websites * Social media in descent allows anyone and everyone to express and share * Social networking sites act as word of mouth. (For example Facebook, Twitter, Google+ etc) * Professional Sites like Linkedin * retweet or repost-repeating the message * Sharing videos through Youtube They advertise the bank products through differ ent finance colligate, business related etc websites.As we can see in the above screen shots from different websites we could understand that Banks rely on Social Media Marketing too to advertise and publicize their products. Conclusion We have analysed different strategies of the bank from Marketing Mix to Technology Based Marketing. From analysing in all aspects the only strategy which is upholding and which will help the bank to be successful is Product Innovation. High Interest or discounts are not difference to help the bank anymore because the customers are expecting the high quality run not the interest from the bank. state have become Quality conscious in the recent past so the new products and the service of that particular product in a appropriate way will help the banks to reach greater Heights.