Marketing of Deposits Marketing definition :- Is
Author : pasty-toler | Published Date : 2025-06-23
Description: Marketing of Deposits Marketing definition Is the process of creating interest in the potential customers clients in your products and or services Dr Philip Kotlar Father of Marketing the science art of exploring creating
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Transcript:Marketing of Deposits Marketing definition :- Is:
Marketing of Deposits Marketing definition :- Is the process of creating interest in the potential customers & clients in your product/s and or services. Dr . Philip Kotlar – Father of Marketing “ the science & art of exploring , creating and delivering value to satisfy the needs of a target market at a profit.” Marketing identifies unfulfilled needs & desires. It defines measures & quantifies the size of the identified market & the profit potential. Principles of Marketing Seven “P” formula Product – nature , innovation , acceptability Price – competitive homework, acceptable Promotion – reach target group , advertisement, (print-electronic); brochure; hoardings etc. Place – Requirement of the place; geographical & demographic study. Packaging – Debit card – ICICI Bank , Attractive, convenient. Positioning – Efforts to reach customers, time period of launch; (vehicle loans in festivals). People – Target group ; Teachers for consumer loan ; police for vehicle loans – identify needs of a group. Difference Products need to change as per times HMT watches ; Swiss watches – Japan , Korea, china. Nokia mobiles – market share 80% down Bajaj two wheelers market share declined & captured by Honda. List of rich persons changed – shift of focus Rothshilds , Morgans , Rockfellers are behind. Marketing in Banking Helping customer/s to open &operate accounts ; making transfers, availing various loans, forex requirements etc. Marketing in Banks aims at – Acquiring, Retaining & Growing Customers. Customer as human being have needs, wants, demands and desires . To start with we should understand these needs. Mobile and Net Banking becoming most popular. Relationship managers Create a customer base. High value customers. All their requirements – door step service. Account opening – scanning of KYC documents photo , signature – need not go to branch. Debit card ; Credit card; Investment plans, personal loans; Travels-forex; everything is taken care. Payment of utility bills – online. Investment Avenues Deposits Demand & Time. Types of deposit A/Cs to suit individual requirements. Current Accounts – Traders, Businessmen, Professionals Saving Account – Individuals ,Housing societies, HUF etc. Monthly Income Depo. – Pensioners; Sr. citizens. Reinvestment - Time bound requirements. Recurring - Periodical requirements. Quarterly Int. Pay-out – Fixed Deposit. Strengths of Deposits Premature encashment Loan up to 90% of deposit. Overdraft against deposit. Age old popular investment. Fixed contracted Interest Rate. Any period from 7 days to 10 years. HCs and B.Gs
