Marketing Strategy of

ICICI Bank Ltd.

Deposit Products
Presented By: Sanjog Devrukhkar (Roll No.:
11)
Hum hain na!
 Introduction

• India’s second largest

bank
• 614 branches and
extension counters
• 2200 ATM’S
• Biggest private sector
bank in India
• Most valuable bank in
India in terms of market
capitalization
• Described by the
competitors and industry
expert in one word –
“Aggressive”
Hum hain na!
 Firsts in the Industry
• Introduced concept of branding in the Indian
banking industry
• Process, People and Physical evidence – brought to
life by ICICI
• Product Innovation
• Introduction of DSA’s and DST’s
• Unleashed the power of the internet
• First bank to focus on retail banking as a driver for
growth
• Comprehensive data centre availability & data
protection solutions

Hum hain na!

Focus areas of marketing effort

• Target marketing and customer acquisition

• Share of wallet
• Channel strategy and management
• Relationship management and database
marketing
• Product development & innovation
• Credit approval

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 Basis for segmentation
• Occupation
Different products for different occupational
segment identified
• Income
Minimum balance serves as a income segment
barrier
• Geographical
Concentrated on Tier 1 & Tier 2 Cities trying to
extend reach
• Age
Different products like student account

Hum hain na!

Nature of banking in India

Banking in India was focused

on the upper income group
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 Targeting
Differentiated
Marketing
Strategy

• Tailors its
marketing
campaigns to
meet the needs of
its target
prospects
• Creates
differentiated
product offering
for different
segment
• Use of technology
in tracking Hum hain na!
customer segment
 Positioning
• Core proposition – ‘Hum hain na’ – trust,
credibility, total financial solution provider
(brought about through its cross selling effort)
• Modernization – process and physical evidence
– technology as the backbone and accelerator

Hum hain na!

 Need identification
• Adapting international practices to the local context
• Information system warehouse
• Product development department – continuously
studies market and analyses competitive landscape

ICICI Bank

Personal Banking
NRI Banking Corporate Banking

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 Product differentiation
Variants in various basic products like savings bank
accounts to suit different customer base and
customer needs

Product augmentation
Redefinition of the banking products with extra
benefits and features added to the products

Pricing
•Penetrative pricing aimed at achieving large market share
•Philosophy of profit through volume
•Effort to drive out competition
•Price leader in retail banking product
•Aggressive pricing facilitated through low cost of fund
acquisition Hum hain na!
 Distribution Strategy
• Cross selling of products as a major area of focus
• Creation of concept of DSA (Direct Selling Agent)
• Creation of concept of DST (Direct Selling Team)
• Effort on the part of the bank to reach the customer
rather than waiting for the customer
• Use of internet, mobile, ATM’s and other
technological device to reach and serve the
customers

Hum hain na!

 Product Promotion
• Aimed at
generating sales
Promotion
• Communicates
Strategy
product features
and benefits
• Mainly through
print media
• Point of purchase
promotion tools for
Corporate Product
different products
Branding Branding
to reach the
relevant customer
segment Hum hain na!
 A man strolls down a beach,
Cut to a house, a man addresses
"Zindagi naam hai, mushkil ko
the members, "I am Ajay Sharma
aasaan banaane ka. Zindagi naam
from ICICI. Ma'am your home
hai zindagi ko aasaan baane ka."
loan has been sanctioned."

Amitabh Bacchan turns to face the camera, MVO: "Saathi jo zindagi ko

"Bas. Ek bharosemand saathi hona chahiye." aasan banaaye."
Super: 'ICICI Group. Saral.
Hum hain na! Surakshit. Samajhdar.'
An old "Ab is umar
woman tells mein kya
her daughter jaayenge? You
about want to
their ka matlab nahin
neighbour's you have to",
plans for continues the
going to mother.
Haridvar

While the As the older

young woman takes a
woman, with peek at the
her ICICI screen,
credit card, she is pleasantly
books tickets surprised.
for her,
online.
The site
downloads ...the MVO adds
and the "ICICI Credit
super reads, cards.
'Haridwar in The power to
a week.' As give your loved
the daughter ones what they
tries to really, really
convince want."
her... Hum hain na!
A couple enter ICICI Bank
Super: How long does it take to open an
and are served coffee as
account with ICICI Bank?
they wait to open an
account.

The man takes a swig from ... disbelief and hands over
his cup... the documents.
Super: Before your coffee VO: Have you opened an
goes cold. ICICI Bank
The executive smiles at Hum hain na! account as yet?
their...
 Public Relations
Purpose - To deliver communication that is uniform in
its message and yet customized for specific target
audiences

Media relations
– Press conferences
– Press Releases
– 1-1 interviews

• Investor relations

• Analyst relations

Hum hain na!

• Government relations
 Outdoor Activities
‘Need to be seen…
everywhere!!’

• Events at corporate
campus
• Promotional material
at channel partner
outlets
• Billboards
• Signboards
• Kiosks in residential
and commercial
complexes
Hum hain na!
 Other Initiatives
• In-film promotions – Baghban

• Co-Branding Initiatives
– Alliance with Amway India for
launch of the international credit
card. The card will enable Amway
distributors to purchase Amway
products and earn and redeem
reward points
– Indian Railways Catering And
Tourism Development Corporation,
in conjunction with ICICI Bank,
announced the launch of mobile
payments and ticketing system,
offering IRCTC customers to book
railway tickets via SMS and make
payments through their ICICI
Hum hain na! Bank
accounts
 Other Initiatives

• Cross brand associations - acquiring databases

of high net worth clientele of lifestyle products :
Tie-up with ‘Woven Hues’
• Young Stars Account – Promotion through tie-up
with Cartoon Network, and in-series promotion
through Tom & Jerry
• Seminars in partnership with media channels
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 People
• Orientation
towards customer
service
• Division of SME,
Personal Banking
and other
functions at the
branch level
• Effort towards
providing
sophisticated and
modern image of
the bank through
its people Hum hain na!
 Process
• Use of technology for both internal and external
processed
• Process are system driven and independent of the
people handling it
• Standardization of service across the branches
• Extensive investment in software solutions for
process systemization

Hum hain na!

Phase 1: Designing
and Simplifying
Access via
Technology
Rural ATMs
Cash Agent Model

Phase 2: Designing
the Product
Phase 3: Financial
Literacy,
Marketing, and
Launching the
Pilot ProductHum hain na!
 Bibliography

• www.icicibank.com
• www.google.com
• IIBF Vision – A monthly Newsletter on Banking
and Finance
• Business Today – Weekly Business Magzine
• Newspapers

Hum hain na!

Hum hain na!