RETAIL BANKING

WHAT IS RETAIL BANKING

Retail banking is typical mass-market banking where individual customers use local branches of larger commercial banks. Services offered include: savings and checking accounts, mortgages, personal loans, debit cards, credit cards, and so on

Prathamesh

EVOLUTION OF BANKING INDUSTRY

Traditional Banking Credit Card (Central Bank of India,1980) Computerization (Bank of India,1989)

ATM & Debit Card (Bank of India,1989)

Phone Banking

Internet Banking (ICICI,1997)

Mobile Banking

CULTURAL SHIFT
Changes in the family culture CHand Joint Family Nuclear Family Dual Income in a family "save and buy' theory to a `buy and repay' principle 1. Social security and status 2. Emergence of new sectors such as Information Technology, media 3. Increase in the purchasing power in rural areas 4. Tax benefits are available
1.

REASONS FOR THE TRANSFORMATION

LPG

impact Ease of transaction (Faster, accuracy, Easy, convenience ad comfort) Accessibility (ATM) Plastic Money (No need to carry cash) Security needs Internet Banking CHand Phone banking

HOW CONSUMERS LEARN ABOUT THE

NEW PRODUCTS
Television Print Outdoor Word of Mouth Relationship bankers (CRM) Online advertising

Joylee n

CONSUMER BUYING BEHAVIOUR AND INVOLVEMENT AND ADOPTION RATE

Segmentation wise/ Area Wise 1. Rural Urban ATM (Same banks) 2. Teens ATM Online 3. Working 4. Adults 5. Senior Citizens
Joylee n

WHATS WHYS OF CONSUMPTION / COMPARISON AND PREFERENCE

Global V/s Indian v/s Nationalized v/s Scheduled v/s Cooperative 1. Technology 2. Experience 3. Reach 4. Work culture 5. infrastructure 6. Timing / Shifts 7. Product Offering Rate of Interest Sneha Facilities Net Banking, Mobile Banking, ATM Loans

MARKETERS RESPONSE FOR BENEFITS SOUGHT BY CONSUMER

EXAMPLE OF SUCCESS STORIES

www.google.com

Neeta

MEDIA SELECTION BY CONSUMERS

FOR DECISION MAKING
Word of Mouth (Peer group) Television Newspaper Brand

Sneha

RELATIONSHIP MARKETING TO BUILD LOYALTY

Priority

banking Relationship Managers Flexibility in documentation Loyalty reward points Add on cards Demat account Hassle Free loans Nishan
t

DISTINCTIVE CHARACTERISTICS
Multiple products (deposits, credit cards, insurance, investments and securities); Multiple channels of distribution (call centre, branch, Internet and kiosk); and Multiple customer groups (consumer, small business, and corporate).

Nishan t

CONCLUSION
From mere bank to advisory services One stop solution Customer service Technology driven

Nishan t