marketingproject-icicibank_grp1

8/11/2019 MarketingProject-ICICIbank_grp1

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Presented By:- Shahina Zia (14DM191)

Shakti Mishra (14DM192)

Shantanu Acharya (14DM193)

Sharda Chawla (14DM194)

Shaunik Rai (14DM195) Shashank Shaw (14DM196)

Shashank Bhatia (14DM197)

Marketing Project On


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Banking in India originated in the last decades of the18thCentury.

The first banks were The General Bank Of India

which started in 1786.

The oldest Bank in function is State Bank of India

which originated as Bank of Calcutta in June 1806.

The banking sector is under a growing stage and

has grown 51 per cent since April 2001.

HISTORYOFBANKSININDIA


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EVOLUTIONOFBANKING

Pre-Independence Post-Independence

Owdh Commercial Bank

(1881)Nationalization of Banks

Punjab National Bank

(1895)Imperial Bank of India

brought under public

ownership (1955)

The Bank of India (1906),Bank of Baroda (1908),

Central Bank of India

(1911)

Formation of State Bank

Group (1955-59)

Emergence of new private

sector (1993)


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INTRODUCTION

ICICI is Indias second largest bank.

Founded in: 1954

MD and CEO: Chanda Kocchar

Total Assets: Rs 4062 billion

Profit: INR 51 billion

Branches:3801

ATMs:11495

Subsidiaries: 19 countries Headquarters: Mumbai


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PRODUCTSANDOFFERINGS

Travelers Cheque

Cards

Loans

Insurance Investment

NRI Banking

Deposits

Business Banking

Personal Banking


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VALUEADDEDSERVICES

Token on entry

E-locker

I-wealth

I-mobile

Pockets by ICICI

My savings rewards


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MARKETINGSTRATEGIES

Social Media Marketing: leveraging Twitter and Facebook to

promote products as well as engage with the target audience.

CRM: leveraging data warehouses to mine customer insightsand using call centers for relationship marketing rather thanhard selling.

Rural Marketing: Self-Help Groups (SHG), mobile battery-operated ATMs, rural kiosks, partnership with NGOs and MFIsto tap this blue ocean. Tie ups with Bank of Madura and Bankof Rajasthan for covering rural markets.

Social Responsibility Marketing: building a brand image of aneco-friendly and socially responsible company by spreadingcarbon footprint awareness and helping the underprivileged.


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ROBUSTNESS

Social media gives us direct online access to customers, helping us

get their feedback on a real-time basis in a cost-effective manner.

The process begins with listening to customers posting online

comments on hundreds of websites including Facebook, Google, Twitter

and forums 24X7.

They have created games, fun applications and contests for our fans

to enhance interaction.

In September 2013, ICICI Bank launched a one of its kind app onFacebook 'Pockets by ICICI Bank' to enable customers to carry out a

wide range of financial transactions on Facebook.


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SEGMENTATION

ICICI has divided its target market into a number ofstrategic slices.

Some of the key segmentation variables are:

Demographics: Factors such as age, income,location, occupation, gender

Geographic: Rural and Urban

Psychographic: As per lifestyle (i.e. modern andtraditional)

Behavioral: On the basis of wants and perception


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POSITIONING

Hum Hain

Na

Vishwas hain

to sab kuch

hain

Khayal Aapka

2011-14

2007-10

2003-06


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COMPETITORS

HDFC is ranked 2ndin the private sector and is

the biggest threat to the ICICI bank.

After HDFC, Axis Bank is ranked 3rdand is the

next big competitor of ICICI.

Some other competitors of ICICI in the private

sector are YES Bank, Kotak Mahindra and

Federal Bank.


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COMPETITIVEADVANTAGESOFICICI OVER

HDFC

ICICI has better presence in rural areas with in

comparison to HDFC. HDFC has good presence in

the metropolitan cities but ICICI has presence not

only in cities but also in rural areas.

ICICI has a strong brand image and is considered

the most social bank with a SSI Score of 79

whereas HDFC has a SSI score of only 62.


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ICICIs innovative ideas and technology leveraging

capabilities gives it an edge over any other competitor. 25

electronic branches across 18 location, Services like TabBanking, Banking on the move and e-Locker are proof of

that.

ICICI has much better global presence withrepresentative offices, branches and subsidiaries in 18

countries whereas HDFC has one representative office in

Dubai and branches operating in Hong Kong and Bahrain


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PORTERSFIVEFORCESMODEL

New entrants: Aspirants like AV Birla,Tata Group, IFCI etc. has a significant

impact

Suppliers: inputs do not have a bigimpact of costs

Rivals: Large industries allowmultiple firms and produces toprosper without having to stealmarket share from each other

Substitutes: lots; low productdifferentiation, especially from

well established competitors likeHDFC.

Customers: large number ofcustomers , individual

customers have limited impact


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SWOT

Strengths: (Characteristics of the business or project that give it anadvantage over others.)

Strengths of ICICIFront runner in the Indian Private Banking Sector.

Strong presence via its branches.

High use of technology to make life simpler for the customers.

Large no. of facilities for the customers in terms of products andservices.

Over 75,000 employees at ICICI.

Decades of Experience in the Banking sector along with marketinghas added to the brand name.

Presence in over 19 countries


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SWOT

Weakness: (Characteristics that place the business orproject at a disadvantage relative to others)

Weaknesses of ICICI

Primary targets are upper middle class and upper class

people of the society only.

Higher service charges and transaction cost.

Many branches in urban areas has led to high cost.


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SWOT

Opportunities: (Elements that the project could exploit toits advantage)

Opportunities for ICICI:

Opening more branches in the rural areas

Use of technology to penetrate rural markets

Venturing into other countries where econimies are

coming up fast.


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SWOT

Threats: (Elements in the environment that could cause

trouble for the business or project)

Threats for ICICI

Ever changing RBI policies.

International and other Competitors.

Inability to adapt to changing conditions due to large size.

PRODUCT


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SeniorCitizen

Services

FixedDeposits

Loan

RoamingCurrent

RecurringDeposit

SavingsAccount

Investment

Cards

MobileBanking

DemandServices

Products

PRODUCT


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PRICE

Pricing decisions are related to interest, fee or

commission are instrumental in motivating or

influencing the target market.

Pricing must be crafted to be commensurate to

service quality and product value.

The right balance of fee income, strategies toreduce operating costs, and a healthy asset and

liability mix is required for optimizing pricing.


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PLACE

The 2 important decision making areas are: making

available the promised services to the ultimate

users and selecting a suitable place for bank

branches.

The number of branches OF ICICI: 3801 in India

and 464 in rural India.

Wide online presence via various social networking

sites and responsive company websites.


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PROMOTION

Advertising Television, radio, movies, theatres, online & SNS

Print Media

Hoarding, newspapers, magazines

Publicity

Campus visits, sponsorship

Sales promotion

Gifts, discount and commission, incentives

Telemarketing

ICICI one source call centre (Mind Space)


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CONCLUSION

With the continuous growth of competition in the

market, understanding customers has become the

need of the hour.

Technology continues to be an important and

positive factor in customer-oriented banking

services and has enabled service quality to

improve.

Rural market still has large untapped potential for

the banking sector to leverage, giving substantial

advantage over competitors.


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REFERENCES

University of Michigan Case Study on ICICI banks

rural marketing strategy

ICICIbank.com

Socialsamosa.com


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marketingproject-icicibank_grp1

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