a project on marketing

8/14/2019 A Project On Marketing

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Name: Roll No:

Mohd Abid 07

Vinod Tiwari 21

Sahil Hooda 06

Subject: Marketing in Banking andInsurance

Professor: Manali Shetye

Rizvi Colle e of Arts Science and Commerce


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What is Marketing?

Marketing is a social & managerial process bywhich individuals & groups obtain what theyneed & want through creating, offering &exchanging products of value with others


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Definition of service marketing

According to American Marketing Association:Services are the activities, benefits orsatisfactions which are offered for sale or areprovided in connection with the sale of goods


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Characteristics of Service marketing

1. Intangibility

2. Perishability

3. Inseparability

4. Variability


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Intangibility

1. Cannot be seen, tested, felt, heard or smeltbefore they are bought

* Challenge: to tangibilize the intangible byadding physical evidence & imagery

(e.g. McDonalds)


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Perishability

1. Services cannot be stored.

*E.g. The services offered by the employees atthe bank perish when one leaves the premisesof the bank.


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Inseparability

1. Provider is part of service

*E.g. In the field of Teaching, if the professor isindisposed, he can not be replaced with aClerk to provide the same service as a Teacher


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Variability

1. Unlike a standard toothpaste or soap, you donot have standard doctors. The reputationdecides the no. of prospective patients, based

on the doctors skills. This varies from doctorto doctor.


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7 Ps of marketing

1. Product

2. Price

3. Place

4. Promotion

5. People

6. Physical Evidence7. Process


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Product

American Express Credit Card

Black Card

Platinum Card

Gold Card

Silver Card


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Price

Black Card Yearly Charges 2500$

Platinum Card Yearly Charge 1500$

Gold Card Yearly Charge 900$

Silver Card Yearly Charges 500$


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Place

Foreign Banks

E.g. Bank of America

Multinational Companies in which theemployees hold high designations


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Promotions

Bank letters send to the esteemed customers

Tie up with Corporate Companies

Sponsorship on good performance

Hoardings

Through Commercial Advertisings


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People

The employees at the bank

Employees of the shipping company


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Physical Evidence

Credit Card being delivered to the mailingaddress

Paperwork

Websites for Total information

Buildings(Offices and Headquarters)


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Process

Standardization Same kind of regulationsthat the banks are subject to

Customization Special counters to deal withthe customers

Simplicity Helps to consume less time, asthere are separate kiosks for all the information

Customer Involvement Credit Cards do not

require bank employees neither do they requirecurrency notes only involvement of the creditcard owner and the credit card a.k.a plastic

money

a project on marketing

Documents