Sales management in commercial banks and case of deposit growth.

Recent development of financial institutions in Nepal had forced the banking industry to push marketing of its deposit products. We can see the advertisement of deposit products in every newspapers, radio and televisions channels. There are stalls of banks and financial institutions in every business fairs and exhibitions. The focus is selling their respective deposits products. Once, there were three banks namely, Nepal bank ltd, Rastrya banejaya bank and agriculture development bank ltd but today there are 32 commercial banks in Nepal and it is obvious to have intense competition in limited market.

Beside financial positions and branch location it is fact some commercial banks have increasing trend in their deposits but some are not succeeding. The interest rate on deposit rate are similar, the account opening amount are somewhat same, the customer care is same but why some are succeeding and some are not because it is the selling strategy particulars banks have adopted.

The most important things on today world is the way of communication an organization does with outsiders. In another word it is the marketing process or in corporate word we can say selling the products. It is obvious that in every business sales matter and for sales it is way of communication. If any body wants to succeed in business, then it is necessary to be great in sales as well. In fact, the boss of a company has got to be great at selling his vision to his employees, selling his company to investors and selling his products to customers.
Let’s take an example, Mc Donald and Burger Kings are two big fast food companies operating world wide. However, if we ask people whether McDonald’s or Burger King has the best tasting burgers, we will usually get the majority agreeing that Burger King has better tasting burgers,