...Internship Report on Marketing Strategy of Shahjalal Islami bank Background of the Study Now-a- day’s banking sector is modernizing and expanding its hand in different financial events every day. At the same time he banking process is becoming faster, easier and is becoming eider. In order to survive in the competitive field of the banking sector all organizations are looking for better service opportunities to provide their fellow clients. So it has becoming essential for every person to have some idea on the bank and banking procedure. Internship program so called work attachment program an essential for every BBA student because it helps him or her to acquaint with the real life situation. As bank is one of the most important financial intermediaries. So I have selected Shahjalal Islami Bank Limited, which is one of the most leading banks of the new bank arena. 1.2 Objective of the Study There have two types of objective 1.2.1. The main objectives of the study are: • To find out the reality in the practical life. • To fulfill the requirement for the completion of BBA program. 1.2.2. The Secondary objectives of this report are: • To develop the practical knowledge by the practical orientation of work. • To build up the pillar of the career for near future. • To know about Shahjalal Islami Bank Limited (SJIBL) operational activities which is based on Islami Shariah. • To know about Human Resource Departments Practices of SJIBL. • To know distinguishing fractures...
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...structure, functions, and performance of the organization. * The Project Work: Pertaining to a particular problem matching with the internee’s capacity and organization’s requirement. * The Report writing: To demonstrate the internee’s analysis, findings and achievements, in the proceeding one phase. In this connection, I was assigned to Prime Bank Ltd.(PBL) SBC Tower Branch, Credit & General Banking Department for my practical orientation. The topic “Marketing of Financial Services and Market Extension & Retention Strategy of Prime Bank Limited” was selected by the Human Resource Division of Prime Bank Limited. This report covers the details of Prime Bank’s practices about Marketing Activities emphasizing “Marketing of Financial Services and Market extension & retention Strategy of prime bank limited. 1.2 Objective of the Report- General Objective: The general objective of the report is to know about the management system and Service marketing activities applied to extend & retain market of Prime Bank Limited as a private commercial bank as well as its...
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...the industry and also the current globalization trend in which the world looks more like a global village than a big wide area we have seen banks especially retail banks adapt more and more strategies to either attract customers or retain customers. Banks have reinvented their marketing strategies to not only spur their rapid growth but also to ensure that they remain profitable in a business sector that has the greatest level of competition. This paper, therefore, seeks to evaluate and analyze the current marketing strategies of the 1st century bank as well as try to offer recommendations of other marketing strategies that the bank can either start using or stop using. This is to ensure its future survival and ascertain that it can remain effective, relevant, and trustworthy to not only win more customers but also gain new ones. Introduction The 1st century bank was founded in the year 2004, with the aim of serving communities of the Los Angeles state particularly those living in the western part of the state. The bank founders saw that the current existing banks within the area had lost the personal touch that banks were supposed to have with its clients; hence, they formed a bank that would re-establish the focus on attentive personal service, with local decision-making and the ability to ensure the success of its clients. The bank was established on the principles of personal approachability, flexibility, responsiveness, and distinguished services, with its main target...
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...Marketing strategy effectiveness in Nigerian banks Abstract: Motivated by the substantial changes in the Nigerian banking industry, a survey research was designed to assess the effectiveness of the marketing strategies used by Nigerian banks to cope with the changes in the industry. Overall results from the study show encouraging levels of effectiveness in many dimensions of composite marketing strategies. The findings were discussed along the relevant dimensions of the research, and managerial recommendations were made for efficient and effective marketing strategies in Nigerian banks. Subject: Sales management (Social aspects) Sales management (Political aspects) Goal setting (Social aspects) Goal setting (Political aspects) Public relations agencies (International marketing) Public relations agencies (Political activity) Public relations agencies (International trade) Public relations agencies (Social aspects) Public relations agencies (Political aspects) Marketing (Social aspects) Marketing (Political aspects) Liquidity (Finance) (Social aspects) Liquidity (Finance) (Political aspects) Decision-making (Social aspects) Decision-making (Political aspects) Marketing executives (Surveys) Marketing executives (Political activity) Marketing executives (Social aspects) Marketing executives (Political aspects) Distribution channels (Political aspects) Distribution channels (Social aspects) Marketing research (Social aspects) Marketing research (Political...
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...Introduction David Delorean, the marketing manager of BK Bank. The directors of BK Bank had a meeting and they decided to reverse a key decision of three to four years ago. In the same time, they had concluded that, they need to increase the revolving credit account base urgently and this task fallen to David to resolve. Therefore David may figure out the problem and solve it base on his experience. First, David needs to found out what is the main problem that causes the sales decreases. Besides that, he have to carefully planned, detailed marketing and direct marketing objectives. Thus he has to use their current data base to seek for customers that they need to put more efforts on it. Following he needs to calculate the net present value of the BK Bank. Moreover, David should figure out how their staff doing in Direct Marketing due to there is so many competitors in the market so they have to provide better services to attract more customers. Direct marketing is the most profitable technique, which can directly reach to customers in the shortest period. Lastly, David is required to come out with some new strategy to implement into the BK Bank to retain the existing company and recruiting new customers as well. By retain and recruiting customers may help to increase the sales of BK Bank. Planning for Media, Direct and Online Marketing Question 1 -Key Issues 1. Market Maturity High profits business has a high demand in the market, so that there is more company...
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...International Journal of Bank Marketing Emerald Article: Does relationship marketing improve customer relationship satisfaction and loyalty? Andreas Leverin, Veronica Liljander Article information: To cite this document: Andreas Leverin, Veronica Liljander, (2006),"Does relationship marketing improve customer relationship satisfaction and loyalty?", International Journal of Bank Marketing, Vol. 24 Iss: 4 pp. 232 - 251 Permanent link to this document: http://dx.doi.org/10.1108/02652320610671333 Downloaded on: 16-01-2013 References: This document contains references to 91 other documents Citations: This document has been cited by 30 other documents To copy this document: permissions@emeraldinsight.com This document has been downloaded 13476 times since 2006. * Users who downloaded this Article also downloaded: * Andreas Leverin, Veronica Liljander, (2006),"Does relationship marketing improve customer relationship satisfaction and loyalty?", International Journal of Bank Marketing, Vol. 24 Iss: 4 pp. 232 - 251 http://dx.doi.org/10.1108/02652320610671333 Andreas Leverin, Veronica Liljander, (2006),"Does relationship marketing improve customer relationship satisfaction and loyalty?", International Journal of Bank Marketing, Vol. 24 Iss: 4 pp. 232 - 251 http://dx.doi.org/10.1108/02652320610671333 Andreas Leverin, Veronica Liljander, (2006),"Does relationship marketing improve customer relationship satisfaction and loyalty?", International Journal of Bank Marketing, Vol. 24 Iss: 4 pp...
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...Marketing Approach to Promoting Banking Services Biswa N Bhattacharyay In recent years, banks in India have not been able to mobilize surplus funds owing to the rapid emergence of competitive non-banking financial institutions. Non-fund based banking services have been underutilized by customers because of low awareness and this has affected banks' profitability. In this article, Bhattacharyay presents a marketing approach to promoting banking services and mobilizing deposits. Using primary data obtained from a country-wide survey of 19,000 households, Bhattacharyay has identified different segments of the customers which could be tapped by identifying their current and future needs and providing an appropriate range of services. Biswa N Bhattacharyay is Professor at the National Institute of Bank Management, Pune. After nationalization, banks in India have largely succeeded in mobilizing surplus funds in the Indian economy. Of late, however, the rate of growth of deposit mobilization has reduced considerably with the emergence of non-banking institutions and growth of competitive financial instruments. Banks have also failed to keep pace with the growth of surplus investible funds. If this present trend continues, banks may find it rather difficult to meet credit.obligations. At the same time, usage by customers of nonfund based miscellaneous banking services is quite low and has affected the profitability of the banking industry. There is also a sense of dissatisfaction with...
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...BACKGROUND OF THE STUDY The domain of marketing has been proven by Levitt (1988) and Kotler (1980), among others to transcend the tangible products areas. Increasingly, intangibles (including financial services) have benefited from the pervasive advantage that marketing can offer. Today, persons, ideas and in fact, doctrines are daily sold to us. Financial services (and intangible product) is one of the important services provided by banks in the economic sub-sector in Nigeria and whose employment of marketing service is becoming more noticeable and acknowledge. The financial services is becoming more noticeable and acknowledge. The financial services sector has in recent years been among the fastest growing areas in the Nigerian economy. Progressive deregulation, starting with free banking ad decentralized foreign exchange market to the lifiting of interest rates ceiling and structural adjustment programme had dramatically altered the operating environment facing suppliers of financial services. These changes in conjunctions with decreases in personal income and wealth, contraction in other sectors of the economy, trends towards globalization and developments in information technology have created an increasingly competitive and demand driven financial sector. As a consequence of these changes, the sector has witnessed considerable innovation not only in terms of products but perhaps more importantly, in terms of processes and marketing arrangement. Initially, the pattern...
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...ACCRA-POLYTECHNIC GROUP-8 Questions 1. Acquire a marketing plan of a company in the financial, telecom or airline industries. 2. Summarize the outline they have used. 3. Critically examine the outline and content of the plan. HUTCHFUL LEWIS, 01134095 ADJEI PEPRAH MAVUS, 01134012D OFORI IRENE, 01134157D YUSIF RASHIDA, 01134289D APPIAH MENSAH JUNIOR, 01134401D ADAMU HAMDIYA, 01134251D AGYARE KWABENA MALVIN, 01134021D Barclays Bank marketing plan outline 1. Executive summary 2. Company description 3. Situational analysis 4. Marketing objectives 5. Marketing strategies 6. Marketing mix 7. Monitoring and control 8. Budget 9. Appendix Critical examination of the outline and its content executive summary The marketing plan of Barclays Bank focuses on introducing new innovative strategies to expand market share of Barclays Bank. The executive summary places emphasis on the 1. Objectives to achieve 2. Marketing strategies needed to achieve the objectives Company description This hinges on the fact that A. Barclays Bank is one of the leading operations in the UK financial sector with exposure to Europe, north America, middle east etc. B. Barclays was established in 1690 by John feame and Thomas Gould C. Barclays is embroiled with a number of controversial subjects such as aggressive investment trading and tax avoidance schemes. Situation analysis Barclays Bank focuses on the industry analysis. This...
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...Executive summary The report’s main objective is to build an integrated marketing plan for the “Sanhinda Saver” savings account of Sampath bank. This account is developed for Senior citizens who are in need of a savings account, which provides financial needs and other benefits expected by them. The product was introduced in June 2009, with a massive introduction campaign with TV and Radio commercials, out door promotions and hoardings at selected places. At present the product is in the growth stage. Though it was the only product specifically created for senior citizens in 2009, now there are number of competitors in the market. Marketing objectives have been set according to the competition to increase and retain the position of market leader. It is clear in the market that the other competitors are not competing with aggressive advertising strategies, but they have clearly set low pricing for value added services of their products. We have considered revising the charges of Sanhinda Saver account to win the market. But when we consider the initial deposit of our product and competitor’s product we have a significant advantage of having the lowest rate in the market. Since Sampath bank is considering improving personal banking services by implementing growth through innovative product design and outreach, developing Sanhinda brand is also considered Finally the responsible matrix and implementation procedure have been developed for the proposed plan. Therefore this will...
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...Nadolniy Taras Marketing Approach of the National Bank of Belarus In my exercise I would like to consider the experience of the National Bank of the Republic of Belarus as the country's central bank to implement the government project of the creation of the domestic market of precious metals of the Republic of Belarus. First of all I want to note that the number of central banks are involved in this sphere of relations insignificant in the world. As a general rule, commercial banks are engaged in this activity. Precisely because of these circumstances, the success of the National Bank depended on many factors, including well chosen marketing strategy for beginning and implementing the project. Just wanted to mention that there is no specialized unit responsible for implementing a marketing strategy in the staffing structure of the National Bank because of the nature of the central bank. The main tasks of the central bank are conducting monetary policy and its individual components - foreign exchange, interest rate and monetary policies. Nevertheless, I would like to give a characterization of the bank in the development of the domestic market of precious metals through the prism of marketing management. In addition, relying on Article Leslie M. Fine "The bottom line: marketing and firm performance" and Roland T. Rust, Christine Moorman, Gaurav Bhalla "Rethinking marketing", I would like to highlight some points that, in my opinion, are essential for this project. The...
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...FIRST SEMESTER SESSION 2015/2016 BWBB 3053 MARKETING OF FINANCIAL SERVICES GROUP C GROUP ASSIGNMENT PREPARED BY: TEENISH KUMAR A/L RAMCHANDRAN | 228061 | LIEW YEE CHEN | 228934 | LIM SIEW HONG | 228935 | TAN JIANG MIN | 228936 | RAMANI A/P KANDASAMY | 234478 | LECTURER: ZUNARNI BINTI KOSIM DATE OF SUBMISSION: 29/11/2015 TABLE OF CONTENTS 1.0 Introduction 1 2.0 objectives 2 3.0 marketing strategy 3 3.1 Customer analysis 3-4 4.0 SWOT analysis 4-6 5.0 steps in marketing management strategy 6 6.0 Market segmentation 7 6.1 demographic segmentation 7 6.2 behavioral segmentation 7 6.3 geographic segmentaion 8 7.0 target market selection 8 8.0 positioning and differentiation 9 9.0 marketing mix 10 9.1 product 10 9.1.1 Core services 10-11 9.1.2 Supplementary services-personalize service 11 9.2 Promotion 12 9.2.1 Promotion through online 12 9.2.2 Advertising 12-13 9.3 price 13 9.4 place 14 10.0 CONCLUSION 15 REFERENCE 1.0 Introduction Nowadays, business world is constantly changing and moving due to the advances in technology. To be more competitive among rivals, understanding customers' needs is the priority for most banking institutions. It must be more than just opening a saving account in the bank such as enable customers to do transactions and facilitate their payment access. Customers are always looking for a more conveniently and time-saving method to fasten their transactions effectively and efficiently. Automated Teller Machine(ATM), an electronic banking machine that...
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...1.6 DEFINITION OF TERMS Marketing – this is societal process by which individuals and groups obtain what they need through offering and freely exchanging products and services of value with other. The managerial perspective of marketing is “the art of selling products” (Kotler P. and Keller K, 2006). It can also be defined as an organizational function and a set of process for creating, communicating and delivering value to customers and for managing customer relationship in ways that benefit the organization and it stakeholder (AMA, 2007). Marketing Mix – this has been defined as the set of marketing objectives in target market (Kotler P. and Keller K, 2006). According to Borden, is the set of marketing tools that the firm uses to pursue its marketing objectives (Zinkhan et al, 2007). However, these tools were classified into four based groups which McCarthy called the four P’s of marketing: product, price, place and promotion. Marketing strategy – this is the marketing tool as well by which the business units hope to achieve its marketing objectives. It consists of specific strategies for target market positioning the marketing mix and marketing expenditure level (Levy S.J, 2004). Marketing of banking services – this is the process of identifying and stimulating demand for the banks service, meeting that demand by making available the banking services in the most effective and efficient manner to present and potential customers and achieving the profit and other objectives...
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...Assignment Topic: Marketing of Bank’s Liability products Subject: Marketing Management – I Ankita Roy 11DM008 Neha Saha 11DM018 P.Santhosh 11DM028 Siddarth Singh 11DM038 Anirban Dhar 11DM048 Debabrata Subudhi 11DM058 Marketing of Liability Products Introduction; Commercial banks offers a varieties of product to the customers, these products are known as ‘’liability product” because they represent liability of the bank. Consumer generally know them as “deposit product”. There are number of Liabilty products, some of the liability products are listed below * Savings Account * Fixed Deposit 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 another big segment of bank which deals with the SME and Corporate clients. WholeSale Banking Wholesale banking is the provision of services by banks to the likes of large corporate clients, mid-sized companies, real estate developers and investors, international trade finance businesses, institutional customers (such as pension funds and government entities/agencies), and services offered to other banks or other financial institutions. In essence, wholesale banking services usually involve high value transactions. Divisions * Corporate Banking *...
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...Investigation into the Marketing Strategies used by Commercial Banks in Managing Service Breakdown among SME Customers. Some Experiences in Kenya By Anyim Kevin Ouma and Dr Justus M Munyoki Paper for presentation during the 1st AIBUMA Conference to be held in Nairobi from 25th to 27th August 2010 in Nairobi, Kenya ABSTRACT This study sought to establish the strategies used by ccommercial banks in Kenya in Managing Service Breakdown among SME Customers. The study focused on five commercial banks namely Barclays, Kenya Commercial Bank, Standard Chartered, Equity and Fina bank which currently offer services to SME customers. A self-administered open and closed ended questionnaire was utilized in collecting primary data from the field. Data collected was analyzed using descriptive statistics. The study found that lack of clear communication with customers, long procedures; intrusive documentation and lack of flexibility are some of the causes resulting in service breakdown. It also established that the main strategies used by banks to deal with services breakdown include; designing services to fit the needs of customers; ensuring that services are always oh high quality without compromise; putting relevant systems in place; having competent employees in place; on time delivery of services and ensuring that services are driven by customers to increase acceptance and satisfaction. Key words: Services Break down, strategies Introduction This...
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