icici+final.ppt

7/29/2019 icici+Final.ppt

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Consumer Behavior Perspective

on ICICI Bank

BY-

KUNAL BHASNEY


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Flow of Presentation

Introduction ICICI BANK

Major Competition

7 Ps of marketing in context with Banking industry

Product

Segmentation

Targeting

Positioning

Perception

Marketing Strategies Advertisements

References


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INTRODUCTION

The Industrial Credit and Investment Corporation of

India Limited incorporated at the initiative of the

World Bank, the Government of India & representatives

of Indian industry, with the objective of creating a

development financial institution for providing medium-

term and long-term project financing to Indian

businesses


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ICICI Bank

ICICI Bank is India's second-largest bank Largest private sector Bank in India

Total assets of Rs. 4,062.34 billion (US$ 91 billion)

at March 31, 2011

Profit after tax Rs. 51.51 billion (US$ 1,155 million)

for the year ended March 31, 2011

The Bank has a network of 2,543 branches and

7,037 ATMs in India, Presence in 19 countries across the globe including

India.


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MAJOR COMPETITION

Public Banks

State Bank of India

Bank of India

Bank of Baroda Central Bank of India

Union Bank of India

Canara Bank

Dena Bank

Allahabad Bank

And many others

Private & Foreign banks

HDFC

Axis Bank

IndusInd Bank Standard Chartered

HSBC

Yes bank

Barclays bank

Deutsche Bank

And many more


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This what the customers wants


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FUNCTIONAL WANT

Quick and 24 hrs service.

Wide spread ATMs.

Quick money transfer.

Easy availability of loan.


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7 PS of Marketing(Banking)


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ICICI Bank offers a wide range of banking products

and financial services to corporate and retail

customers through a variety of delivery channels and

through its specialized subsidiaries and affiliates in the

areas of investment banking, life and non-life

insurance,venture capital and asset management.

PRODUCT


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BASIS FOR SEGMENTATION

Occupation

Different products for different occupational segment identified

IncomeMinimum balance serves as a income segment barrier

GeographicalConcentrated on Tier 1 & Tier 2 Cities trying to extend reach

Age

Different products like student account

Hum hain na!


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TARGETING

Geographic:

Most of the customers belong to Section (A) cities

and urban areas of (B) cities.

Demographic:Their target customers are mostly of Fullnest(I),

Fullnest(II), and DINK.

Psychographic:Their services are generally target towards


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FULLFILLERS (principle oriented)

Mature/satisfied/comfortable/reflective

Favour functionality /durability/value in products

EXPERIENCER (action oriented)

Young/enthusiastic/impulsive/rebellious.

TECHNO SAVVY

High Techno Savvy and Medium techno savvy.


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TARGETING

Differentiated

MarketingStrategy

Tailors its marketingcampaigns to meet the

needs of its targetprospects

Creates differentiatedproduct offering fordifferent segment

Use of technology intracking customersegment

Hum hain na!


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SBI - the Big Daddy of Indian banking- a bank which started nearly 200 years ago

- continues to be more than 50 % owned by the RBI

- known as the banker to the government.

-assets of $ 126 billion (Dec 2005)

-network of 13,813 branches

POSITIONINGBillion Dollar Question in 2004 -

Which is Indias Largest Bank ?

ICICIclosest competitiona distant secondassets of $42 billion (Dec 2005)network of 1400 branches.


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In 200103, SuperStar 'Amitabh Bachchan' as the

Brand ambassador , complimenting the brand values:

Towering personality

Perceived as trustworthy

Impeccable lineage

To Dominate Retail Business &

Customers Mindshare in India

Mrs. Chanda Kochhar, the then Senior General Manager said, "Mr. Bachchan's

universal appeal will help us to effectively communicate our brand message -- that

customers will find it safer, simpler and smarter to transact with ICICI -- to a very

diverse customer base encompassing people from all sections and life-stages."

POSITIONING


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In 2006, ICICI Bank Limited, signed up

Bollywood superstar ShahRukh Khan as

its global brand ambassador.

ICICI Bank Joint MD., Lalita D Gupte said that the bank's association with SRK,whose global popularity has been increasing, brings synergy to the bank's growing

global presence.

SRKs image and popularity with the NRI segment will further reinforce ICICI Bank's

global identity, the bank said in a statement.

Reaching out to the Global Indian

POSITIONING

"Having established our leadership in the retail

business over the last five years, the bank is now

poised to scale new heights in the global arena"

ICICI Bank MD & CEO KV Kamath said.


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MEASURING PERCEPTION


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FOCUS AREAS OF MARKETING

EFFORTS

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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MARKETING STRATEGY

Introduced concept of branding in the Indian banking industry

Process, People and Physical evidencebrought to life by ICICI

Cash on the celebrity fever Introduced the concept of brand

ambassadors

Unleashed the power of the internet introduced the concept of net

banking and e-mail marketing

First bank to focus on retail banking as a driver for growth

Comprehensive data centre availability & data protection solutions Described by the competitors and industry expert in one word

Aggressive


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PROMOTION

ICICI has spent Rs 185 crore in 2006/07 on advertisingand even roped in Amitabh Bachchan as brand ambassadorand latest being Shahrukh Khan to come close to itscustomers.

The Cheques presented to winners in the first 2 versions ofthe famous game show - Kaun Banega crorepati wereICICI Bank cheques.

Coupons system at bank counters, mobile alerts, bettercustomer service build up differential advantage for ICICIbank.


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Hum hain na!

A man strolls down a beach, "Zindaginaam hai, mushkil ko aasaan banaaneka. Zindagi naam hai zindagi ko aasaan

baane ka."

Cut to a house, a man addresses themembers, "I am Ajay Sharma fromICICI. Ma'am your home

loan has been sanctioned."

Amitabh Bacchan turns to face the camera,"Bas. Ek bharosemand saathi hona chahiye."

MVO: "Saathi jo zindagi ko aasanbanaaye."Super: 'ICICI Group. Saral.

Surakshit. Samajhdar.'


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Hum hain na!

A couple enter ICICI Bank andare served coffee as they waitto open an account.

Super: How long does it take to open anaccount with ICICI Bank?

The man takes a swig from hiscup...Super: Before your coffee goescold.

The executive smiles at their...

... disbelief and hands over thedocuments.

VO: Have you opened an ICICIBank

account as yet?


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Hum hain na!

REFERENCES

www.icicibank.com

www.google.com

IIBF Vision A monthly Newsletter on Banking

and Finance Business Today Weekly Business Magzine

Newspapers
http://www.icicibank.com/http://www.google.com/http://www.google.com/http://www.icicibank.com/


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