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FRACTALS( Roll No. 10741 to 10750)

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Presents a case on

Financial Services in India

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Agenda

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Financial services market

Mainstay, mirrors financial health regulated- RBI, SEBI, IRDA,

Highly

AFMI
Boasts

of 2300cr- services distribution and advice market

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The Services Marketing Triangle

ICICI Bank(Management)
Internal Marketing
enabling the promise

External Marketing
setting the promise

(Employees)

(Customers)

Interactive Marketing
delivering the promise 4/15/12

INTERNAL MARKETING Knowledge management strategy

EXTERNAL MARKETING Websites

INTRACTIVE MARKETING ATMs

Wise-guy intranet Advertisements portal Training to the Infrastructure employees Good compensation Goal setting to the employees Performance 4/15/12 bonus Customer care services Brochures

Mobile banking Credit and debit cards Travel cards Demat services Online banking

7 Ps of ICICI Bank
1. PRODUCT:
q q q q q q

Deposits and Accounts Investments Anywhere Banking Loans Cards Demat services banking

4/15/12 q Mobile

7 Ps of ICICI Bank
2. PRICING
q

Pricing decisions related to interest, fees or commission 2. RBI and IBA 3. Raising number of customers

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7 Ps of ICICI Bank
3. PLACE
q

Services are sold through branches Making promised services available to the ultimate user Branches of ICICI: 1900 in India and 33 in Mumbai

q q

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7 Ps of ICICI Bank
4. PROMOTION
q q q q

Advertising: TV, radio, movies, theatres Print media: Hoardings, newspapers, magazines Publicity: Road shows, campus visits, sponsorships

Sales promotion: Gifts, discounts and commissions, incentives 4/15/12

7 Ps of ICICI Bank
5. PROCESS
q

Standardization: ICICI bank has got standardized procedures for typical transactions Customization: Specialty counters at each branch to deal with the customers of particular scheme

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7 Ps of ICICI Bank
6. PHYSICAL EVIDENCE:
q

1. Signage 2. Financial reports: The companys financial reports are issued to customers 3. Tangibles: Pens, writing pads to

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7 Ps of ICICI Bank
7. PEOPLE:
q

1. All people directly or indirectly involved in the consumption of banking services. 2. Workers, employees, management and other consumers

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Gaps Model of Service Quality

CUSTOM ER Expected Service

Cust omer Gap

Perceived Service
Service Delivery External Communicatio ns to Customers

COMPA NY

Ga p 1
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Ga p 3 Ga p 2

Customer-Driven Service Designs and Standards Company Perceptions of Consumer Expectations

Ga p 4

GAP 1 -The Knowledge Gap

Lack

of clarity about the services offered level customers- priority

Courtesy

Corporate

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Safety

measures

GAP 2 - The Policy Gap

Lack

of proper customer defined service design technology driven service standards

Inconsistent

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GAP 3 The Delivery Gap

Unable

to match demand at peak

hours
Lack

of knowledgeable staff enquiry constraints

Customer

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GAP 4 - Communication Gap

Inadequate

upward communication in advertising

Over-promising

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Service Evaluations
Search-

Loans, Savings deposits

Experience-

ATM, online banking

Credence4/15/12

Mutual funds

investment,

Factors That Influence Desired & Predicted Service of ICICI Bank

Explicit PromisesHum Hain na.. There Implicit throughout!! PromisesSecurity, Savings

Desired Service

Zone of Tolerance Adequate Service

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Predicted Service

Word of mouthFriends, relatives, Past ColleaguesExperiencescreditworthy

Efficient, more than Satisfactory,

THANK YOU
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