SERVICE MARKETING MIX

ICICI Bank

By Ajesh, Dimple

COMPANY PROFILE
MD

& CEO - Chanda Kochar Largest Private Sector Bank

Indias 2nd

largest bank in India in all Sectors assets of Rs. 3,562.28 billion -1955, Bank in -1994

Total

Incorporated

Network
Listed

in 18 Countries

in NSE,BSE and NYSE

SERVICE MARKETING MIX

Product Price Place

Promotion
Physical evidence People Process

THE PRODUCT MIX

ICICI Bank offers wide variety of Deposit Products to suit our requirements. Coupledwith convenience of networked branches/ over 1800 ATMs and facility of E-channelslike Internet and Mobile Banking, ICICI Bank brings banking at your doorstep. Savings Account : ICICI Bank offers a power packed Savings Account with a host of convenient features and banking channels to transact through. Senior Citizen Services: The Senior Citizen Services from ICICI Bank has severaladvantages that are tailored to bring more convenience and enjoyment in your life. Young Stars: It's really important to help children learn the value of finances and moneymanagement at an early age. Banking is a serious business, but we make banking a pleasure and at the same time children learn how to manage their personal finances. Fixed Deposits: Safety, Flexibility, Liquidity and Returns!!!! A combination of unbeatable features of the Fixed Deposit from ICICI Bank. Recurring Deposits : Through ICICI Bank Recurring Deposit you can invest smallamounts of money every month that ends up with a large saving on maturity. So youenjoy twin advantages-

THE PRODUCT MIX

Deposits Investments Loan Cards Demat Services Mobile Banking Internet Banking NRI Services Life and General Insurance

THE PRICE MIX

Interest Fee Commission Very much dependent on the quality of service Important coz, Decides the no of customers Profit of the business

The

right balance (interest charged and interest paid)

THE PLACE MIX

Has a wide network both in India and abroad 1,620 branches and about 4,700 ATMs Has made its presence felt in 18 countries incl. US, UK, Russia, Canada, Germany and many other Asian countries

THE PROCESS MIX

Standardizd

Customized

Processes

Simplicity

Cust. Focused

RBI regulations kept Definite format for documents as well as well defined procedures for each transaction, thereby least time for

processing

Various functions are segregated, so no confusion unlike many of the public sector banks

The documentation process and formalities

THE PHYSICAL EVIDENCE MIX

Specialty counters at major branches for different customer segments Many examples of physical evidence such as Signage Reports Internet/web pages Brochures Furnishings and other tangibles Employees dress code The building itself

THE PEOPLE MIX

Management, Knowledge Workers, Employees(most important) and

Consumers
Immense, quality training provided Excellent internal marketing plans

THE PROMOTION MIX

Advertising: Television, radio, movies, theatres, mobiles, internet etc Print media: hoardings, newspaper, magazines Publicity: road shows, campus visits, sandwich man, Sponsorship Sales promotion: gifts, discount and commission, incentives etc. Telemarketing thru call centres The Hum Hain Na advertisement campaign

SERVICE GAP FLOW CHART

GAPS model According to the Gaps model, ICICI Bank have created the gaps between its customer and its services provided. Major four gaps are identified as per the above model. The listening gap which is due of unidentified the clarity of customers' expectations; in spite of even identifying them, it could not fulfill them because of its massive customer base, for which the bank has to work on a large scale strategies in budgeting and other key aspects. The bank promotes itself as the easiest banking system, but, it is not the case in branch banking due to inadequate staff and infrastructure to meet the grown customer walk ins. The gap between the service design and standards is because of not delivering the right services or selling right products to right audience. The inadequate staffing and lack of training for the front line staff members created the gap of service performance. And the gap of communication is due to inefficiency in managing the customers' expectations and could not keep up the service guarantees.

THANK YOU