Impact on Marketing due to Current Trends in Technology

- Presented by Group 4 12DM028 - ANOOP CHAND 12DM109 - RAHUL JHA 12FN024 - ARIFA KAZI 12FN107 - SACHIN GUPTA 12IB006 - AMIT VERMA 12IT017 - ROHIN GEORGE

Agenda
Identifying Certain Main Trends in Technology State Bank of India (SBI)
o Technologies That Can be Used o Data Analysis from Surveys Relating to that Technology o Marketing Opportunities Available to SBI Using that Technology o Benefits/Costs of Implementing that Technology

Current Trends in Technology

Cloud Computing
Usage of a network of remote servers hosted on the Internet to store, manage, and process data, rather than a local server or a personal computer

Near Field Communication

Contactless payment systems that allow mobile payment to replace or supplement the current systems like Credit, Debit Cards etc.

Mobile Banking: Touch Computing and Increasing Demand for Smart Phones
Providing Customer Services on the Move

Social Networking Sites

Features user-generated content and allows others to publish and share information and opinions. Examples : Blogs, Facebook, delicious, YouTube, Flickr.

Mobile Banking
About Mobile Banking Banking transactions using mobile phones by bank customers that involve credit/debit to their accounts. Accessing the bank accounts by customers for non-monetary transactions like balance enquiry etc. Why Mobile Banking is a Current Trend

Mobile Banking (Cont.)

In 2010, SBI posted a Y-o-Y growth of 1865% in transaction value
Source : http://charts.medianama.com/india-mobile-banking-transactions/

Mobile Banking (Cont.)

Benefits
PwC estimates mobile banking transactions in India will exceed 340 million in 2015, resulting in cost savings of approximately (INR 11 billion) 1,100 crore INR.

Using it as a Marketing Opportunity

Quick and Instant Reach to Consumers for advertising Location Based Services Providing Timely and Relevant Content By analyzing Customer Usage Improved Penetration in Rural Areas as Usage of Mobiles Continues to Grow

Near Field Communication (NFC)

About NFC
Consumers get to store credit card information in a virtual wallet application provided by the Bank and then use an NFC-enabled device(SmartPhone, Tablet) at payment terminals.

Why NFC is a Current Trend

Survey Source: YouGov
Survey 1: Number of People -2000
36%, - Aware of mobile wallets, 12% knew about NFC.

Survey 2: 500 specialist users of contactless cards and NFC-enabled handsets.

22% - Aware of NFC, but only 16% knew their own phones supported the technology. Less than 2% actually used NFC technology.

Survey 3: Number of People Interested in NFC

76% - convenience of the payment means 68% - speed of Transactions. 37% - expect incentives from service providers 36% - expect loyalty schemes.

Near Field Communication (NFC) (Cont)

Current R&D
State Bank of India has announced NFC enabled debit cards enabling commuters to pay for their journeys with a simple tap. It will have a built-in e-purse to store a pre-paid amount.

Benefits
Independent Mobile Payment Service The banks will not have to rely on the terms and conditions of any mobile service provider (telecom)

Using it as a Marketing Opportunity

Customers with NFC enabled phones will not have to depend on cards, thus offering feasibility and security.

Social Networking Sites

About Social Networking Sites Can be used to interact with customers in an informal way Can help in brand differentiation Why Social Networking is a Current Trend India has the fastest growing rate of online customers

Social Networking Sites (Cont.)

Benefits Helps in saving costs as it provides a low cost medium to interact with customers Using it as a Marketing Opportunity Exponential Word of Mouth Marketing Using Web Analytics to Map Customer Trends which will help in Making Customized Products

References
Books
Kotler , Keller, Koshi and Jhan. Technological Environment: Marketing Management (13th Edition) 80-82

Journals
Reginald Masocha, Norman Chiliya,vand Stanislous Zindiye(2011). Competitive Marketing by Banks: African Journal of Marketing Management 73-76 Pete Cashmore. Top 10 Tech Trends for 2012: CNN Eddie Sanders and Robert N Allen. Technological Environment Analysis Model: Small Business Institute Journal Dr. B. S. Sawant. Technological Developments in Indian Banking Sector (2011): Indian Streams Research Journal 1-4

References (Internet Links)

http://www.pwc.com/in/en/assets/pdfs/publications-2012/banking-summitfinal-220512.pdf http://www.history-society.com/technological-environment-index.html http://www.intel.com/content/dam/doc/white-paper/financial-services-theimpact-of-mobile-banking.pdf http://www.dnb.co.in/bfsisectorinindia/BankC6.asp http://www.icmrindia.org/casestudies/catalogue/Innovation/Banking%20Industr y%20-%20Business%20Report%20-%20Excerpts.htm http://www.exporthelp.co.za/modules/1_considering_exporting/env_technologi cal.html http://business.svtuition.org/2009/11/what-is-technological-environmentand.html