UnderitheiSupervisioniof

Professor. Poonam Sharma

i i

PROFESSOR:iMarketing,iPlanningiandiControl

Submittediby

GROUP 3 i

PGDM(G)iSECiA
AayushiiGupta
ArihantiJain
DishaiBhargava
ManishaiSharma
PushkaliShrivastava
RhythemiBedi

JAIPURIA INSTITUTE OF MANAGEMENT

i i i

NOIDA
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CONTENTS OF MARKETING PLAN

1. ExecutiveiSummary
2. CurrentiMarketingiSituation
3. ThreatsiandiOpportunitiesiAnalysis
4. ObjectivesiandiIssues
5. MarketingiStrategy
6. ActioniPrograms
7. Budgets
8. Controls
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EXECUTIVEiSUMMARY

InitiallyiIDFCiFirstiBanki(formerlyiIDFCiBank)iisiaimemberiofitheiIDFCiIntegratedi
InfrastructureiFinanceigroup,iwhichihasiitsiheadquartersiiniMumbai.iOni1iOctoberi2015,ithei
bankibeganioperations.iIniJulyi2015,iIDFCiFIRSTiwasigrantediaiReserveiBankiofiIndiai(RBI)i
UniversaliBankingiLicense.iIDFCiFirstiBankiwasilistedioniBSEiandiNSEifromi6iNovemberi
2015.
IDFCiFIRSTiBankiisibornitoibeidistinctlyidifferentifromiwhatiitiwasiearlier.iItihasiairenewedi
focusioniretailibusinessiwithianiintentitoifastforwardiitsigrowthitrajectory,ianditoiserveimanyi
moreicustomerisegmentsithatiareigrowthdriversiofitheiIndianieconomy.iOurinewibankifusesi
state-of-the-artitechnologyisuperioriliabilityiplatformiofierstwhileiIDFCiBankiwithianalytics-
ledilendingicapabilities,itheiretailiDNAiandistrongiprofitabilityitrackirecordiofierstwhileiCapital
iFirst.iItienablesibothitheiinstitutionsitoiexpandicapabilitiesiandireachianditoibetteriserveicustom
ers.iThus,itheimergerisetsitheistageiforitheicreationiofiaifinanciallyiandistrategicallyistrongeri
entity.
TheiIDFCiFIRSTiBankiisinowifundedimoreithani1,10,400icroresibyistrongiassetsiandiinithei
retailisegmentiitiaccountsifori37ipericent.iYouriquarterlyiannualisedimarginiforinetiinteresti
increasedifromi1.9%itoi3.0%iafterimerger.iInisomeiretailiassetisegments,itheiBankinowi
occupiesianiimportantiposition.iWithiainewifocusioniexpandingitheiBank'sifootprintiacrossithei
country,itheitechidriveniliabilitiesiplatformiisireadyitoiincreaseiexponentially.iTheicombinedi
baseioficustomersinowigrowsiati7,3imillioniwithianiimportantishareiinitheiboomingihinterlandi
ofiIndia.
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CURRENTiMARKETINGiSITUATION
ConsideringitheicurrentifinancialsiofiIDFCiFirstiBankiitiisinotilookingiattractive,ibutitheinewi
managementiisiveryistrongiandihavingiveryipromisingifuture.
Foritheiinvestmentipurposesiletiusiwaitiforifewiquartersiandiletitheicompanyipostipositivei
results.iOnceitheicompanyipostipositiveiresultsithenionlyistartiinvestingiiniSIPimodeiforilong-
term.
Nowitheimarketiisichangeditotallyifromipreviousiquarter,iCoronaiOutbreakihasidamagedithei
entireifinancialisystemiofitheicountryiandiitiwillitakei6–12imonthsitoirecover.
ForiinvestmentiiniIDFCiFirstiBank,iitiisirecommenceditoiwaitiforianotheri2iquarters,iifiQ2–
2021iisipositiveithenipeopleicaniinvestiwithilong-termiviews.
Also,iitiisisuggesteditoieveryiinvestoritoiopeniaiPrimaryiaccountiinithisibankiandibuildifewiFDsi
alongiwithiinvestingiinithisibank.
Thisibankihasipotentialitoibeatifewiwell-
establishedibanksiinifutureionceitheibankiwilliachievei1200+ibranchesiandi1000+iATMi
networki(Beforei2025).

THREATSiANDiOPPORTUNITIES
Theseiareisomeiofitheistrengths,iweaknesses,iopportunities,iandithreatsithatiIDFCiFirstiBanki
hasiiniitsiwayiandicanigrabithoseiopportunitiesisoitoicaptureimoreiofitheimarketiandibuildithei
brandistronger.

Strengths Weaknesses
•DiverseiRevenueimodels •Highicostiofireplacingiexistingiexperts
•Trackirecordiofiinnovation •NicheiMarketsiandilocalimonopolies
•Strongibrandirecognition •GoodiBusinessimodel
•iWideigeographicipresence •Loyaltyiamongisuppliers
•iSuccessiofinewiproductimix •LowiinvestmentiintoiIDFCiBankiLimite
dicustomer-orientediservices

SWOT
Oppurtunities
Threats
•RapidiExpansioniofiEconomy
•Customeripreferencesiareifast-changing •DistrustiofiInstitutions
•Localicollaboration •Competitiveipressure
•Loweringioficostiofinewiproductilaunc •Saturationiinitheiurbanimarketiandi
hes stagnationiiniruralimarketsi
•Trendioficustomersimigratingitoihigher •changingidemographics
-ends
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PRODUCTiDESCRIPTION

❖ TheiPersonaliBankingiProductilineiincludesiSavingsiAccount,iDeposits,iLoans,iInvest
ment,iInsurance,iPaymentsiandiCards.

❖ TheiBusinessiBankingiProductiLineiincludesiAccountsi&iDeposits,iCashimanagement
iServices,iBusinessiinvestmentiSolutions,iTradeiForexiServicesiandiCards.

❖ TheiWholesaleiBankingiProductiLineiincludesiCorporates,iMNCs,iFASTag,I
GovernmentiandiFinancialiInstitutions.

❖ TheiWealthiManagementiProductiLineiincludesiInvestmentiSolutions,iPersonali
InsuranceiSolutionsiandiBusinessiInsuranceiSolutions.

DISTRIBUTIONiCHANNEL

IDFCiFIRSTiBankifocusesionitheiSupplyiChainiFinanceiopportunitiesifromibothitheisidesi—
idealer'siasiwelliasivendor'si-ianditherebyitermithisiofferingiasiCorporateiLinkediFinancei(CLF).

TheiridedicatediCLFiTeamioffersiairangeiofistructurediasiwelliasiregularifacilitiesithatienableith
emitoimeetifundingirequirementsiiniaitimelyiandicost-
effectiveimanner.iTheiCLFifacilitiesicanibeilinkeditoiBXP,itheiricomprehensiveiInternetibankin
giplatform,itoiprovideie-paymentiandie-collectionisolutions.

1. RetailiSectoriLoan

➢ CrossiSell-
iDirectidistributionifromibranchiiniwhichiIDFCiBankiprovidingiadditionaliloansitoie
xistingicustomersiwithoutiproofiofiincomeibasedionion-siteiandioff-
siteiresultsibyiRelationshipimanager.i
➢ DSAi(DirectiSalesiAgency)
• CorporateiChannel:iitsibranchesiareiavailableiallioveriIndia.iIfiweitakeiexam
pleiofioneiofiitsicorporateichannelsiwhichiisiAndromedaisalesiandidistributio
niPvtiLtd.iTheyilinkianiindividualiwithiailoaniprovider,itakeicareiofitheineces
saryipaperworkiforiLoaniApplicationiforms,iperformibasiciapplicationichec
ks,iandiensureithatitheisubmittedidocumentsifollowitheiloaniprovider'siguide
lines.
➢ DirectiSalesiTeam:iRelationshipimanageriorisalesimanageriwillibeiprovidediwithiaid
irectisalesiteamiofi5-
6imembers.iEveryiindividualiwillicontactiaicustomeridirectlyithroughitheiripersonali
contactiorianyhowibyicallingiwilliresourceitheiloanifileiandiwilliinformiititoitheirires
pectiveimanagers.
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➢ OnlineiApplication:itheileadifilesicomeifromiheadiofficeitoirelationshipimanagersiin
itheirirespectiveibranches.iIfiaipersoniapplyiloanibyionlineiapplicationifromianyiofit
heibranches,ithatiformiwilligoitoiheadiofficeiofitheibankiorisalesimanager.iExample:i
paisabazar.com
➢ SocialiMediaiMarketing:ianyionlineiwebsiteicontactiwithirelationshipimanageriofith
eibank.iTheicustomericaniapplyithroughitheionlineiwebsiteitoo.i

2. Deposits:
Lookingiatitheiliabilityiside,idepositsiareidoneithroughionlineiapplicationiwhereiexistin
gisavingsiaccountiholdericonvertitheiriamountitoifixedidepositsiFD.iOtherithaniopeningi
aniFDiaccountitheisavingsioricurrentiaccounticanialsoibeicreated.iForiexample,iisisomeb
odyihasitakeniloanisayiofi₹50ilakhs,iandiifitheicustomersiwanteditoipayiinterestifromioth
eriprivateiofigovernmentibank,itheniIDFCiFirstiBankiwilligiveichoiceitoiopeniaipersonal
isavingsiaccountiiniIDFCiFirstiBankibranchionly.iInithisiwayitheibankipromotediitsiloan
iserviceiasiwelliasibankiaccountiserviceiiniaisingleigo.

3. ThirdiPartyiInsurance:
IDFCiFirstiBankiallowsithirdipartyiinsuranceiserviceiprovisionsifromiICICIiLombardipl
atform.iICICIiLombardisendsitheirirepresentativeitoirespectiveibranchesionipermanenti
basisitoiIDFCiFirstibank.iTheirepresentativesicalculateitheipremiumirequirementiofispe
cificiinsuranceiandiotherifinancialsiandiinformitheiBankianditheirirespectiveicustomers.

4. DealeriFinance
Dealersioridistributorsiofiaiparticularicorporateicaniavailiofiaifinancingifacility,iexclusiv
elyiforitheipurchasesimadeifromithatirespectiveicorporate.

• Dealersioridistributorsigetianieasyiaccessitoifinance,iaticompetitiveirates.
• Strengthenedidistributioninetworkiforicorporates.
• Availableiiniflexibleimodels:iPulli(anchor-driven),iPushi(dealer/distributor-
driven),iandiStarti(indentibase)
• Optioniofiplatformsi-iphysical/semi-
online/onlineithroughiBXP,itheiricomprehensiveiInternetiBankingiPortal.

5. VendoriFinance
Vendorsiofiaiparticularicorporateicanienjoyitheifinancingifacility,iagainstisuppliesimade
itoitheicorporate

• Aidsiaivendor’sicashiflowiandiimprovesitheioverallisupplyichain'siperformance
• Availableiiniflexibleimodels:iAnchor-driveniandivendor-driven
• Optioniofiplatformsi-iphysical/semi-
online/onlineithroughiBXP,itheiricomprehensiveiInternetiBankingiPortal.
• Enablesicorporatesitoidevelopiaistrongiandireliableivendoribase
• PurchaseiOrderiFinance:iVendorsiofiaiparticularicorporateicanienjoyitheifinancingifacili
ty,iagainstisuppliesimadeitoitheicorporate.
OBJECTIVESiANDiISSUES
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VISIONi
Ourinewibankihasiainewivision.i“Weiwantitoicreateitheiworld’sibestibank,irightihereiiniIndia,I
foriaspiringiConsumersiandiforiEntrepreneurs.”i

MISSION
WeiwantitoitouchitheilivesiofimillionsiofiIndiansiiniaipositiveiwayibyiprovidingihighiqualityiban
kingiservicesitoithem,iwithiparticularifocusioniaspiringiconsumersiandientrepreneursiofiourine
wiIndia,iusingicontemporaryitechnologies.

AiNEWiLOOKiFORiAiNEWiMISSION
TheinewibrandiidentityiofiIDFCiFIRSTiBankisignifiesigrowthiandienergy.
Itireflectsitheiprogressiveispiritiofiouritimes.iTheisymbolismibehindiourinewiidentityiisidrawnifr
omitheithemeiofi‘progress’.iInspiredibyiaiforwardimovingibarigraph,iitiembodiesiaisymboliofigr
owthithaticanibeiseeniandimeasured.iTheithreeibarsistandiforiaithreefoldipurposei–
iprogressiofitheibank,iprogressiofiouricustomersiandiprogressiofitheination.
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OBJECTIVES
Innovative:iToiconstantlyistriveitoiinnovateiinitheicustomeriinterest.
CustomeriFocused:iToiputitheicustomer’siinterestifirstibyiputtingithemselvesiinitheicustomer’
sisituationsiandiviewingithingsifromitheiriperspective.
Actionioriented:iToiconstantlyidemonstrateifocus,iinitiative,iandienergyitoideliveritheiripromis
eiofidelightingicustomers.
Decisive:iToiexerciseibestijudgementibyimakingisoundiandiwell-informedidecisions.
Empowered:iToitrustitheiriemployees’iabilityitoibeisuccessful,iespeciallyiatichallenginginewit
asks,idelegatingiresponsibilityiandiauthority.
Collaborative:iToidevelop,imaintainiandistrengthenirelationshipsiwithibothiinternaliandiextern
alistakeholders.

ISSUES
• TheiriReturnioniequityi(ROE)iisilowiforiwhichitheyisayithatiouriROEiwillicome,iitiwillic
omeibecauseitheyiareibuildingiaigoodibank.iItiwillibeiinimid-
teensiandiitiwillibeiai18%iROE.
• Theichallengeiwasiinitheilargeicorporateiandiinfrastructureiexposures.iTheiriinfrastructu
reiexposureiatitheitimeiofitheimergeriwasiRsi22,000icrore.iTheyiareiveryiawareithatiinfr
astructureihasitoicomeidownibecauseiitihasiitsiownichallenges.iTheyihaveibroughtidown
itheiinfrastructureibookidownitoiRsi11,000icrore.iTheyisayithatioveritheitimeiinfrastruct
ureiproblemsiwilligoiaway,isomeiofitheicorporateiloaniissuesiwillialligoiaway.
• IDFCiFirstiBankitrailsidueitoilowiCASAiandiinadequateibranchinetwork,iasiitsiCASAir
atioiisi13.3ipercent,iamongitheilowestiinitheibankingiindustry.iTheihigheritheiCASA,ith
eibetteriisibank’siabilityitoiplayiaipriceigameiinihighlyicompetitiveiretaililoansiandialsoie
arnibetterimargins.
9i|iP a g e

MARKETINGiSTRATEGIES

POSITIONING

Aifinancialiinstitution,ispecializingiiniprovidingidebtifinancingitoiMSMEsiandiemergentimiddl
eiclassiofiIndia.

DifferentiationiprocessiinvolvesihowiIDFCiFirstiisidifferentiatingiitsiproductsiandiservicesiinith
eimarketplaceicompareitoiitsicompetitors.iPositioningiisitheipositioniofitheibrandioriIDFCiFirsti
Bankiproductsiinimindsiofitargeticustomersi–
ibasedionidistinctiveifeatures,iqualities,iandifunctions.

TheidifferentiationiandipositioningitaskiatiIDFCiFirstiBankirequireimarketingimanagersi
toidoi-
➢ Identifyicompetitiveiadvantageioriuniqueivalueipropositionioniwhichipositionitheibra
ndiinitheimindiofitheiconsumers.
➢ ChooseicompetitiveiadvantagesithatiareimosticompatibleiwithiIDFCiFirstiBankimark
etingistrategy.iMarketingimanagersiatiIDFCiFirstiBankicanimakeiperceptualimapsitoi
betteriunderstandicompetitiveipositioningiofivariousibrandsiinitheimarketplace.
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➢ Finally,ipositioningitheibrandiasiaidelivereriofisuperiorivalueitoitheitargetisegmentian
dieffectivelyicommunicatingithatipositionitoiconsumersiusingimarketingimixiandipro
motionimix.

KEYiPRODUCTiDECISIONS
Marketersimakeiproductidecisioniatithreeilevels:iindividualiproductidecisions,iproductilineideci
sions,iandiproductimixidecisions.
IndividualiProductiDecisions
1. Productiattributes:iDevelopingiaiproductiinvolvesidefiningitheibenefitsithatiitiwillioffer.

• ProductiQuality:iItiisioneiofitheimarketer’simajoripositioningitools.iQualityihasidirectiimp
actioniproductiperformance;ithus,iitiisidirectlyilinkeditoicustomerivalueiandisatisfaction.
IDFCiFirstiBankisaysithati“WeiwantitoitouchitheilivesiofimillionsiofiIndiansiiniaipositiveiwa
yibyiprovidingihigh-
qualityibankingiproductsiandiservicesitoithem,iwithiparticularifocusioniaspiringiconsumersi
andientrepreneursiofiourinewiIndia,iusingicontemporaryitechnologies”.

• Productifeatures:iAiproducticanibeiofferediwithivaryingifeatures.iFeaturesiareicompetitive
itooliforidifferentiatingitheicompany’siproductifromicompetitor’siproducts.
IfiIitalkiaboutitheicrediticardsiofiIDFCiFirstiBankithanitheyihaveisomeiuniqueifeaturesilike:
Interestifreeicashiwithdrawals
LowestiInterestiRateiStartingiati9%ip.a.
Lifetimeifreeicrediticard
Upitoi10XiRewardipoints

2. Branding:iTheimostidistinctiveiskilliofiprofessionalimarketersiisitheiriabilityitoibuildiandi
manageibrands.iItiisitheiname,iterm,isign,isymbol,idesign,ioriaicombinationiofithese,ithatiide
ntifiesitheiselleriofithese.
"TheinewibrandiethosiofiIDFCiFIRSTiBanki#AlwaysYouFirstiisiaboutipeople.iThatiisiwhyi
initheicampaigniweidevelopediaipeople-
driveniapproach,iincludingiinfluencerimarketingiandicontentigeneratedibyiusers.iItiwasithei
bestiwayitoibroadenithisisocialimediaimessage.

3. Packaging:iPre-
shipmentiFinanceiisitheifacilityiextendeditoiexportersiforitheiripurchase,imanufacturing,ipro
cessing,iandipackagingineeds.iItiisiavailableiiniIndianiRupeei(ExportiPackingiCrediti–
iEPC)iandiforeignicurrenciesi(PackingiCreditiiniForeigniCurrencyi–
iPCFC)iaticompetitiveirates.

4. Labelling:irangeifromisimpleitagsiattacheditoiproductsitoicomplexigraphicsithatiareipartiofi
theipackage.iLabeliidentifiesitheiproduct.iSo,iifiweiseeitheiMillenniaicrediticard,iitihasisome
11i|iP a g e

igraphicsimadeioniitithatiisiofiaimeniandiwomen.iSo,iweicanieasilyidifferentiateiitifromitheio
thericards.

5. ProductiSupportiServices:iCustomeriserviceiisianotherielementiofiproductistrategy.iAico
mpany’siofferiusuallyiincludesisomeisupportiservices.
IDFCiFirstiBankiprovidesiproductisupportiservicesitoitheiricustomers.iForiexample,iforithei
ridifferentiproductsilikeiloans,icrediticards,idepositsietc.itheyihaveidifferentitoll-
freeinumberitoisolveitheigrievancesioficustomers.

PRICING
1)iProfitability
❖ NetiInterestiMargin:iTheibankiplansitoiexpanditheiNIMitoiabouti5.0%i-
i5.5%iinitheinexti5iyearsibasedionibettericostiofifundsiandicarefullyiselectingitheiproduc
tisegmentsiwhereitheyihaveistrongiprovenicapabilitiesioveritheiyears.i

❖ AssetiQuality:iOveri90%iofitheiRetailiLoaniBookiofitheibankiconstitutesiofiloanibookib
roughtifromierstwhileiCapitaliFirst.iTheibookiisiseasonedioveri8iyearsiacrossibusinessia
ndiloanicyclesiandihasihadistableiperformanceithroughoutiandihasibeeniadequatelyistres
sitestediacrossisignificantieventsisuchiasihighiinterestirateicyclei(2010-
2014),ihighiinflationirateicyclei(2010-
i2014),iDemonetizationi(2016,iwhereioveri86%iofitheicashiofitheicountryiwasiwithdraw
niovernight),iGSTiimplementationi(2017,iwhichichangeditheibusinessienvironmentiandi
methodsiforiMSMEs)iandiyetiassetiqualityiremainedihighioveritheiperiod.

❖ CostitoiIncome:iTheiBankiplansitoiimproveiCostitoiIncomeiratioitoi~50-
55%ioveritheinexti5iyears,idownifromi~80%i(post-
mergeriresults,iQuarteriendediDecemberi31,i2018)i

❖ ROAiandiROE:iWithitheiimprovementiinitheiNIMiandicostitoiincomeiratio,itheibankiai
msitoireachitheifollowingibenchmarksiinitheinexti5-6iyears.
o ROAiofi1.4%-1.6%
o ROEiofi13%-15%
2)iAssetiStrategy
❖ GrowthiofiAssets:
• TheiBankiplansitoigrowiretaililoaniassetsifromiRs.i36,236icrorei(Decemberi31,i2
018)itoioveriRs.i100,000icroreiinitheinexti5iyears
• TheiBankiplansitoiwindidowniloansitoiinfrastructureitoiNILiwithinifiveiyearsi(iR
s.i22,710iasiofi31iDecemberi2018).
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• TheiBankiplansitoireduceitheitotaliWholesaleiloaniassetsi(includingitheiInfrastru
ctureiLoans)ifromiRs.i56,809icrorei(Decemberi31,i2018)itoiRs.i40,000icroreibyi
Marchi2020iiniorderitoirebalanceiandidiversifyitheioveralliLoaniBook.

❖ DiversificationiofiAssets:iTheiBankiplansitoiincreaseitheiretailibookicompositionifromi
34.62%itoi70%iwithini5iyearsiandisetitheitargetitoitakeiititoi80%ithereon.i

❖ GrossiYieldiExpansion:iAsiairesultiofitheigrowthiofitheiretaililoani(atiairelativelyihighe
riyieldicompareditoitheiwholesaleiloans),itheigrossiyieldiofitheiBank’siLoaniBookiwasii
nitiallyiguideditoiincreaseifromi9.4%i(asiperiQ2-FY19,ipre-
merger)itoimoreithani12%iinitheinexti5iyears,ihoweveriweinowiupgradeiouriguidanceian
diprojectitheiyielditoibeiati13.5%iinitheinexti5iyears.iTheibankiwilliexpandiHousingiloan
iportfolioiasioneiofiitsiimportantiproductilines.

3)iLiabilityiStrategy
❖ CASAiGrowth:iThisiisiaikeyifocusiandigrowthiareaiforitheibank.iTheyiplanitoiincreasei
theiCASAiRatioifromi8.68%iasiofiDecemberi31,i2018ioniaicontinuousibasisiyearioniyea
riandistriveitoireachi30%iCASAiratioiwithini5iyears,iandiincreaseiititoi40-
50%ifromithereion.iAniarrayiofidigitalisavingsi&icurrentiaccountsiareiplanneditoibeioffe
reditoitheicustomeribasei(moreithani7imillionicustomers)iofiErstwhileiCapitaliFirst.i

❖ DiversificationiofiLiabilities:iAsiaipercentageiofitheitotaliborrowings,itheiRetailiTermi
DepositsiandiRetailiCASAiisiproposeditoiincreaseifromi8.04%iasiofiDecemberi31,i2018
,itoioveri50%iinitheinexti5iyearsiandisetiupiaitrajectoryitoireachi75%ithereafter.

❖ BranchiExpansion:iToigrowiRetailiDepositsiandiCASA,itheibankiplansitoisetiupi600-
700imoreibankibranchesiinitheinexti5iyearsifromitheibranchicountiofi206i(asiofi31iDeci2
018).

COMMUNICATIONiSTRATEGIES
PromotioniMix
Aicompany’sitotalipromotionimixiisialsoicallediitsimarketingicommunicationimix.iIticonsistsiof
iaispecificiblendiofiadvertising,ipublicirelations.iPersonaliselling,isalesipromotion,iandidirectim
arketingitoolsithaticompanyiusesitoipersuasivelyicommunicateicustomerivalueiandibuildicusto
merirelationships.
Theseiareitheifiveimajoripromotionalitools:
1. Advertising:i

Anyipaidiformiofinon-
personalipresentationiandipromotioniofiideas,igoods,ioriservicesibyianiidentifiedisponsor.
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• ItiisilearntithatitheiIDFCiFirstiBankihasistartedilookingiforiainewiadvertisingipartneriaro
undiOctoberilastiyeariandiwasilookingiatileveragingidigitalichannelsiprimarilyiforiacqui
sitionsiandibrandibuilding.
• Itienjoysistrongirelationshipsiwithiseveralileadingifinancialisponsors,ibothidomesticiand
iinternational,imatchediwithianiexperiencediteamitrackingidedicatedisectors.iTheyialsoi
bringistrategicipartnersiforivalueicreationitoitheiriclients.
• IDFCiFIRSTiBankihasiannounceditheisigningiofiiconiciBollywoodiactoriAmitabhiBach
chan,iasiitsifirst-
everibrandiambassador.iBachchan’sipersonalityiperfectlyiresonatesiit’sibrandipersonaia
ndivaluesipillars,ithatiofiSincerity,iHumilityiandiContemporariness.
• Accordingitoitheicompany,itoipromoteithisinewicustomer-
firstiapproachiandiitsi7%ip.a.isavingsiaccount,iInteractiveiAvenues,iaiRepriseiNetworki
Company,iwhichiisitheidigitaliarmiofiIPGiMediaibrands,itookitoiFacebook,iTwitter,iInst
agramiandiYouTubeitoicreateianiinfluencerimarketingicampaign.
• “IDFCiFIRSTibank’sinewibrandiethosi#AlwaysYouFirstiisialliaboutipeople.iThatiisiwh
yitheyicreatediaipeople-
powerediapproachiinitheicampaign,ithatiincludediinfluencerimarketingi&iuserigenerate
dicontent.iItiwasitheibestiwayitoiamplifyithisimessageionisocialimedia.iGettingicelebritie
siandifansitoishareitheiri#AlwaysYouFirstistoriesialsoihelpedicreateimaximumiimpactiar
ounditheibrandimessage".
• #AlwaysYouFirstiwasipromotedithroughiIndia’sifirst-
everiTelevisionicommerciali(TVC)-
reactionivideoiseries,ifeaturingitheiinfluencers.iTheiTVCsishowedipeopleiputtingitheine
edsiofiothersifirstianditheiinfluencersisharedisimilarimomentsifromitheirilivesiinitheifilm
s.
• ThereiareifewiwaysithroughiwhichiIDFCiFirstiBankidoesiadvertising:
❖ Searchiengineioptimizationi(SEO):iisitheiprocessiofiimprovingiwebsiteisoiGooglei
andiusersicaniunderstandiitibetter.
❖ Socialimediaimarketingiisitheiprocessiofiengagingiandidevelopingirelationshipsiwi
thipeopleiinterestediinitheiribank.
❖ ContentiMarketing:iisitheiprocessioficreatingitext,ivisual,iandiinteractiveielementsi
foritheiriwebsite.
❖ Reputationimanagement:iisitheipracticeiofimanagingionlineireviewsiandidiscussio
nsiaboutitheiribranditoimakeisureitheyiareiasipositiveiasipossible.
❖ Blogging:icaniincreaseitrafficitoitheirisite,ibuilditheirisocialimediaiprofiles,iandiesta
blishiexpertise.
❖ Videoicontenticampaigns:itoimakeipeopleiawareiaboutitheiribrandithroughitelevisi
oniandiYouTube.
❖ CommunityiInitiatives:iCustomersilookitoitheiribanksiforiideasionihowitoimanagei
theiripersonalifinances.
2. Salesipromotion:i
Shortitermiincentivesitoiencourageitheipurchaseiorisaleiofiaiproductioriservice.iHereiareifew
iwaysithroughiwhichiIDFCiFirstiBankidoitheirisalesipromotionibyiprovidingibenefitsitoithei
ricustomers:
• IDFCiFirstiBank,iwhichirecentlyilaunchediitsicrediticardibusiness,iisiofferingifouridiffer
enticards.iEachicardicatersitoidifferenticustomerisegments.iTheibankiusesidifferentipara
metersitoisegregateiapplicants,iincludingiage,iincome,iandilifestyle.
14i|iP a g e

• Someifeaturesiareisameiacrossitheicards.iForiexample,ieachicard'siinterestiratesistartiati9
%iandigoiupitoi36%.iThereiwillibeinoiinterestionicashiwithdrawaliifitheicustomerirepaysi
onitime.
• Allicardsiwillibeilife-
timeifreeiandicomeiwithiaihigherirewardipointsiprogrammeithanimostiothericardsiinithei
marketiifitheicustomerispendsioveri₹20,000.
• FIRSTiMillenniaicardholdersiwilligetiai₹500iwelcomeigiftivoucherionispendingi₹15,00
0iwithini90idaysionitheicardiset-
up.iTheiprivilegesiincludei25%idiscountionimovieiticketsiupitoi₹100ionceiaimonth.
• Theyiwillialsoigetifouricomplimentaryirailwayiloungeivisitsieveryiquarteriandiupitoi15
%iandi20%idiscountiforispendsiatipartnerihealthiandifitnessioutletsiandirestaurants,iresp
ectively.

3. DigitaliMarketing

USEiOFiDIGITALiTECHNOLOGY
Sinceiitsilaunchiini2015,itheiIDFCiBankihadifocusedioninetworkiexpansionithroughibranches.
iItihadibuiltiupiaidifferentiretailiformatithaticomprisediaiwell-
organizediphysicalinetworkithatihadianioverlayiofitechnologyiwithiaihumanitouch.iTheibankia
lsoithoughtiofiautomatingimostiofiitsiprocessesitoiincreaseioperationaliefficiency.iToibeiainew
-ageibank,iIDFCiFirstibankitookivariousiinitiatives.

UCCEiandiUCIC
IniJulyi2018,itheibankiimplementediCISCOi‘siUnifiediContactiCentreiEnterprisei(UCCE)iand
ioffereditheiBanker-on-
Calliserviceitoiprovideibettericustomeriservice.iItihelpedicustomersigetiai24x7iconnectedidigit
aliexperienceiacrossichannelsisuchiasitheiContactiCenter,iEmail,iChat,iandiRemoteiExpertiBr
anchi(REB).iToiavailiofithisi24x7iBankerioniCalliservice,itheicustomerihaditoiregisterihimself
/herselfiwithitheibankibyisendingitheirelevantifillediapplication.

USEiOFiDIGITALiMEDIA
IDFCiFirstiBankiusedidigitalitechnologyinotionlyitoiprovideibetterifinancialiservicesitoiitsicus
tomersibutialsoitoipromoteiitsibrandiandiproducts.iTheibankimostlyiusedisocialimediaiplatfor
msisuchiasiFacebook,iTwitter,iWhatsApp,iInstagram,iLinkedIn,iandiYouTubeitoilaunchiitsiin
novativeicampaigns.

TECHNOLOGYiAiPIVOTiINiTHEiBANK’SiFUTUREiGROWTH
AsiofiAugusti2019,iIDFCiFirstiBank’siretailisalesihadireachediRs.i440ibillionianditheyiwereie
xpecteditoigrowitoiRs.i1,000–
1,200ibillionibyi2024.iAsiofiSeptemberi2019,itheibank’siretaililoanibookihadiseeniaigrowthiofi
25%iwhereasiitsiretailidepositsiandicurrentiaccountiandisavingsiaccounti(CASA)ihadiincrease
dibyi64%iasicompareditoitheipreviousiyear.iAihigheriCASAiratioiwouldimeanilowericostiofifu
ndsiasibanksinormallyididn’tipayiinterestionicurrentiaccountidepositsiwhileiinitheicaseiofisavi
ngiaccounts,itheiinterestiwasionlyi3-4%.iDetailingitheiprospectsiofiIDFCiFirstiBank.i

4. PubliciRelations
15i|iP a g e

Anotherimajorimassipromotionitooliisipublicirelations.iItidealsiwithibuildingigoodirelationiwithi
theicompany’sivariousipublicsibyiobtainingifavorableipublicity,ibuildingiupiaigoodicorporateii
mage,iandihandlingioriheadingioffiunfavorableirumors,istories,iandievents.iTheifollowingifunct
ionsiareiperformedibyitheiIDFCifirstibank.
PressiRelationsioriPressiagency:iSomeiofitheiagreementiofimediaicompanyiwithiIDFCiBankii
s-
• CNBC
• ResultiServicesiPrivateiLimitedi(MRM/iMcCann)
• McCanniMumbaii(MCCANNiEricksoni(India)iPrivateiLimited
• Maxusi(GroupMiMediaiIndiaiPrivateiLimited)

ProductiPublicity:iAsiIDFCibankihasilaunchingiainewicrediticardiiniwhichiisiailifeichangeriasii
tsichargersiailowiinterestiratesiwhichiisi9%iperiannumiandi0.75%imonthlyiwhichiisijustiRs.i750i
aimonthifori1ilakh.iWhileitheiotheribanksiannualiinterestirateiis,ilet’sitakeianiexampleiofiSBIiwh
ichiisi40.2%,iICICIiBankiisi40.8%,ietc.
Of-
courseithisilowiinterestirateiisinotiforiall,ibutiforitheicreditiworthyiindividualsibasedionivariousif
actors.
Theieligibilityicriteriaiare:
• Millennia:iAgeibetweeni21–35-year-olds,iwithiincomeilessithani₹12ilakh
• Classic:iAgei>35iandiITRioveri₹12ilakh
• Select:iAgei>35iandiITRi₹15ilakhiandi₹35ilakh
• Wealth:iITRi>35iLakhsi(or)ihighiHNWiwithibank,ilikei>10Libalance

PubliciAffairs:iIDFCiFIRSTiBankiisiofiviewithatitheination'sigrowthihingesionitheigrowthiandi
empowermentiofiitsicitizensi-iwhetheriiniruralioriurbaniareas
Theirifocusiareaiision:
• Education:iIDFCibankiisiprovidingieducationischolarshipitoi2700+inationwideicandid
ates.
• Womeniempowerment:iiIDFCiFirstiBankigivesianiopportunityiforifemalesitoibecomei
self-irelianceiandiindependent.
• Sanitation:iIDFCiFIRSTiBankiinipartnershipiwithiStreeiMuktiiSanghatanaiandiMunici
paliCorporationiofiGreateriMumbai(MCGM)iisiworkingioniprojecti'SwachhiWorliiKo
liwadaiwithianiaimitoicleanitheiWorliiKoliwadaicommunity,icreateiawarenessiandibrin
giaboutibehaviourichangeiaroundisolidiwasteimanagementipracticesiandisegregationiat
isourceithroughiaiparticipatoryiprocess.

InvestoriRelations:iShareholdersiplayedimajoriroleiinishowingiconfidenceioniIDFCiFIRSTiBa
nk.iTheyihelpediIDFCiFIRSTiBankiinigrowingisteadilyionitheiribusinessiandifinancialiparamet
ersiiniFYi2020.iTheiyearihasibeeniquiteichallengingiforitheientireiBankingiindustryiiniIndiaiwit
histressionitheicorporateisectoriloans,iNBFCicrisis,iAGRiissuesiinitelecomiandifinallyitheipande
miciCOVID-
19iimpact.iThroughoutitheiyear,itheiHeadiofiInvestoriRelationsiofitheiBankihaveiinteractediwit
himanyiofihisishareholdersithroughimeetings,iphoneicallsiandieveniemailiandidiscussedionitheir
ifeedback,isuggestions,iconcernsiandiaccoladesiforitheiBank.
16i|iP a g e

Development:iIDFCiBankihasiteamediupiwithiCapitaliFloat,iaiBangalore-
basedionlineilendingiplatform,itoiprovideidigitalilendingitoismallibusinessesiacrossiIndia.iBorro
wersiwhoidoinotihaveiaccessitoistructuredibankicredit,ihaveiminimaliorinoidocumentation,iandi
haveinoicreditihistoryiwillibenefitifromitheirelationship.iAsiairesult,imoreismallibusinessesiareie
xpecteditoienteritheistructuredifinanceiarchitecture.

5. DirectiMarketing

Directimarketingiconsistsiofianyimarketingithatireliesionidirecticommunicationioridistributionit
oiindividualiconsumers,iratherithanithroughiaithirdipartyisuchiasimassimedia.
• UsingitollifreeinumberiandiSMS
❖ Tollifreeinumber:i1800-2700-720
❖ SMSiBanking:ifoeisendingibalanceitoi5676732iandibyidialingilasti4-
digitinumberiofibanksitoi9289289960.
• UsingiMediaiandiInternet
❖ Internet:iSocialiMediaiMarketingi(FACEBOOK,iINSTAGRAM,iTWITTE
R)
❖ Newspaper,icatalogueidistributioniandiMagazine
❖ Emails:[email protected]
• Outdooriadvertising:iadvertisingibyihoardingsiandibanners

6. AboveitheiLineiandiBelowitheiLineiMarketingiStrategy

Below the Line:

Advertisingiisianiadvertisingitechniqueiwhereiproducts,iotherithaniiniradioianditelevisionimedia
,iareiadvertised.iThisiincludesidirectimailipromotions,iexhibits,icataloguesianditargetingibyisear
chiengines.
Above-the-linei
strategiesiareisuitableiforigeneralibrandirecognition,iandiupdateitacticaliapproachesiareipreferab
leiforidirecticustomerirelations.iTheimosticommoniwayiofiadvertisementiisiviairadioiandi
television.

ATL
Iniorderitoiexpandiitsifranchise,iini2019iIDFCiFirstiBankicallediforicreativeimediaiagencyirevie
w.iTheibankiwillialsoifocusionitheiuseiofidigitalicapabilitiesianditheiconceptioniofiadvertisingist
rategiesithatiareiveryistronglyiconnectediwithipeopleiwhileiseekingistrengthsiinistrategyiandiinn
ovation.i
Sincei2015,iIDFCiFIRSTihasiworkediwithiMcCanniWorldgroupiandiMRMi(McCanniWorldgr
oup'sidirectiandidigitalimarketingibranch).iTheirelationshipibetweenitheiAgencyihasihelpeditoio
rganiseicrafticampaignsisuchiasi"bankiofinow,"i"bachcheibhiijaanteihai"iandi"alwaysiyouifirst"il
ately.
17i|iP a g e

#AlwaysYouFirstiCampaign
AfteriIDFCiBankiandiCapitaliFirst,iainewicompany,iIDFCiFIRSTiBankiandiainewibrandipropos
al,i#AlwaysYouFirst,iwasidevelopedibyitheifinancialiinstitution.iInteractiveiAvenues,itheidigita
librandiofiIPGiMedia,ihasitakeniFacebook,iTwitter,iInstagramiandiYouTubeitoicreateiaipowerfu
limarketingistrategyitoisupportitheicompany'silatesticustomer-
firstiapproachiandiitsi7%ip.a.isavingiaccount.

BTL
SocialiMediaiMarketing
Iniadditionitoibetterifinancialiservicesiforiitsiclients,itheiIDFCiFirstiBankihasiusedidigitalitechn
ologiesitoisupportitheiribrandiandiproducts.iTheiBankimostlyiusediitsicreativeimediaistrategiesi
usingisocialimediaisuchiasiFacebook,iTwitter,iInstagram,iandiLinkedIn.
18i|iP a g e

LinkedInienablesiadvertisersitoitargetiindividualsiwithisidebariadsibasedionitheirioccupationiori
groupsionitheiwebisite.

TheiaboveiisitheiexampleiofiLinke
dInipostitargetingipeopleirelatedi
toiCSR
19i|iP a g e

AboveiareitheiexampleiofiIDFCiFirstiBank’siadvertisementioniInstagramianditwitterihandle.iO
nitheitwitterihandleitheilaunchiofiVIVOiphoneiandiinformationiaboutitheicashibackioffersioniLo
aniserviceiareigiven.
Oneibenefitiofisocialimediaimarketingiisithationeicanigetiliveifeedbackiaboutitheiproductiandise
rvicesiofferedibyitheibank.iFollowingiisitheiexampleifromiLinkedIniwhereitheicustomerimadeiai
complaintiinitheicommentiboxiofitheiboxiandigettingitheireplyiformitheibank:

DirectiMailingiandiSMS
InianotheriexampleiforiBelowitheilineiMarketingibyiIDFCiFirstiBank,itheibankiserviceiupdatesi
andinewiproductilaunchesicanibeiinformeditoitheicustomersithroughitheiriregisterediemails.iInia
dditionitoiitianyinewitransaction,ibalanceienquiryiandiserviceiupdateicanibeiconveyedibyitheiba
nkitoitheiricustomerithroughishortimessagingiserviceionicustomer’siphone.
20i|iP a g e

COMPETITORSiREVIEWiOFiIDFCiFIRSTiBANK
MajoricompetitorsiofiIDFCifirstibankiare-
➢ HDFCibank
➢ AVismallifinanceibank
➢ BankiHapoalim
➢ PiraeusiBank

❖ IDFCiBankiisiofferingiaisignificantisavingsibankiproductiforichildreniwhichiisir
eferreditoiasitheiMinor’sisavingiaccount,iwhereasiHDFCiBankiisiofferingiaichil
dren’sisavingiaccountiwhichiisinamediasiKidsiAdvantageiaccount.iIDFCiBankip
rovidesifacilitiesilikeipersonaliloansiandifinancialimanagementi,whereasiHDFCi
firstibankiprovidesiaiwideivarietyiofifinancialiservicesilikeicommercialibanksie
xchangei,moneyitransfer,icustomizediloans,ifinancialimanagementietc.

❖ IDFCifirstibankiprovidesiconsumeridurableiloans,iloaniagainstiproperty,ico
mmercialivehicleiloans,iFASTagiServices,iFirstimillennia,ifirsticlassici,firsti
select,ifirstiwealth,iwhereasiAVismallifinanceibankiprovidesibankingiservicesi
foriall,isafeiandisecureiAUimobileiapp,iFixedideposits,iMSME’SiLOANS,ilo
ckerifacilities,iinsuranceifacilitiesietc.

❖ HapoalimibankiisioneitheilargestibanksiheadquarterediiniISRAEL.iItiprovidesiv
ariousibankingiservicesisuchiasicrediticards,iinvestmentibanking,iprivateiequity,
iassetsimanagement,iworkingicapitalimanagement,iportfolioisecuritiesimanage
mentietc.iItsimarketishareiisiincreasingirecentlyiasicompareditoiIDFCibankiandii
tihasigeneratingimoreirevenueiandithusiincomeifromiitsioperationsiinitheimarket.

❖ PiraeusibankiisianotherimostiimportanticompetitoriofiIDFCiFirstibankiwhichipro
videsivariousifinancialiservicesisuchiasi“PAYiandiSAVE”;Winbankipay,idirecti
debitipayments,ibillipaymentsipackagesi,stockiexchangeiservices,iforeigniexcha
ngeiservices.ItihasiaiwideimarketiandiprovidesiESGiworldisustainabilityiservice
siforigrowthiandidevelopmentiinitheimarket,iitialsoiprovidesieasyipayiservices.

OthericompetitorsiofiIDFCiBANKiAREi-
ICICIiBANK,iKOTAKiMAHINDRAiBANK,iBANDHANiBANKi,YESiBA
NKi,ANDHRAiBANKiETC
21i|iP a g e

MARKETINGiBUDGET
MarketingiBudgetiPlaniisiallocatingitheifundsitoidifferentimediumiofimarketingiforiaicompany.i
Creatingiaimarketingibudgetiforiyourismallibusinessiuseditoiinvolveiailotiofiguesswork.iThisiisit
railiandierroriworkithatirequiresiailotiofiguessiwork.iFollowingithei5istepsithroughiwhichitheima
rketingibudgetiplaniisidecided:
• LookiatitheiBigiPicture.
• ListiOperationaliCosts
• SetiGoals
• ScopeiOutitheiCompetition
• CreateiMarketingiPlan
Asistatediabove,itheiprojectedimarketingiplaniforiIDFCiFirstiBankiareiasifollows:

Marketing Budget Plan

Projected Subtotal to date: ₹ 6,96,13,50,000.00
PROJECTED PROJECTED
CAMPAIGN TYPE QTY
COST PER UNIT SUBTOTAL
National Marketing SUBTOTAL ₹ 3,15,00,00,000.00
Banner Ads 105000 ₹ 30,000.00 ₹ 3,15,00,00,000.00
Local Marketing SUBTOTAL ₹ 1,07,25,00,000.00
Newspaper 8250 ₹ 1,30,000.00 ₹ 1,07,25,00,000.00
Public Relations SUBTOTAL ₹ 24,57,50,000.00
Public Events 50 ₹ 3,15,000.00 ₹ 1,57,50,000.00
Sponsorships 70 ₹ 25,00,000.00 ₹ 17,50,00,000.00
Client Events 55 ₹ 10,00,000.00 ₹ 5,50,00,000.00
Content Marketing SUBTOTAL ₹ 61,50,00,000.00
Sponsored Content 410 ₹ 15,00,000.00 ₹ 61,50,00,000.00
Social Media SUBTOTAL ₹ 71,50,00,000.00
Twitter 750 ₹ 4,50,000.00 ₹ 33,75,00,000.00
Facebook 200 ₹ 10,00,000.00 ₹ 20,00,00,000.00
Instagram 350 ₹ 2,50,000.00 ₹ 8,75,00,000.00
LinkedIn 200 ₹ 1,50,000.00 ₹ 3,00,00,000.00
Youtube 200 ₹ 3,00,000.00 ₹ 6,00,00,000.00
Online SUBTOTAL ₹ 36,12,50,000.00
Blog 200 ₹ 30,000.00 ₹ 60,00,000.00
Website 350 ₹ 2,40,000.00 ₹ 8,40,00,000.00
Mobile App 500 ₹ 4,50,000.00 ₹ 22,50,00,000.00
Mobile Alerts 185 ₹ 2,50,000.00 ₹ 4,62,50,000.00
Advertising SUBTOTAL ₹ 80,18,50,000.00
Print 1 ₹ 10,00,00,000.00 ₹ 10,00,00,000.00
Radio 1 ₹ 18,50,000.00 ₹ 18,50,000.00
Television 1 ₹ 70,00,00,000.00 ₹ 70,00,00,000.00

Formitheiaboveidatai(tentative)icollectediitilooksilikei45%iofitheifundiisibeingispentionibannersi
adsiwhileitheileastipercentageiofitheifundii.e.,i4%iandi5%iofitheifundiisibeingispentioniPubliciR
elationsiandionlineicontent.
Suggestions:iIDFCiFirstiBankimustiincreaseiitsispendingionidigitaliandisocialimediaicontentiasi
theidigitalisationiisipavingitheinewiwayiofibusiness.
22i|iP a g e

BUDGETiCONTROL

Marketingibudgetiisioneiofitheiimportantifactorsiforiubiquitousiofiaibrand,iaiproperiplanning,ist
rategy,iandiexecutionieverythingidependsionimarketingibudget,iaccordingitoitheibudgetiallocat
editoitheiteamitheyiexecuteitheievent,iwhatiifitheieventiwereinotisuccessfuliandididinotigiveianyi
conversionithenispendingiaimoneyiwillibeiaiwasteiofiaicompany.iToitrackitheseithingsicompany
iusesidifferentitoolsitoigeticontrolionitheseithingsianditheyiareiasifollows:i

• CostiAnalysis
Marketingidepartmentishouldikeepistrictieyeionitheimarketingiexpenditureitheyilookithe
iconversionioveritheispendingionievent.iIfitheiconversioniwereinotiasitheiexpectedilevel,
ithenitheyitryitoireduceitheibudgetiofithatievent,iforiexampleitheiBanneriAdsicostishouldi
beireduced,ianditheifocusishouldibeimoreioniSocialiMediaiMarketingiasiitiwouldisaveiai
lotiofimoney.
• ReduceiDemand
Initheicaseiofipamphletsiandibannersiifitheiconversioniwereinotiupitoitheiexpectedileveli
andiproducingitheinumberiofileafletsianditheyiareiusediproperlyiandinotidistributeditheni
theileftoveriwasitheiextraicostiforitheicompanyiandisameiscenarioigoesiwithihangingiba
nners.iThenicompanyiReduceitheidemandiofitheseithings.ii
• Feedback
Oneiofitheimostiimportantiinfluencerifactorsiforibudgetiandiitsicontroliisicustomerifeedb
ackisometimesiifitheicustomeriwillinotifinditheiproductisuitableiorinoriqualityiassured,it
heyitryitoireduceitheinumberiofithatiproductiorielseitheyiincreaseiinitheiqualityilikeiwhe
niIDFCiFirstiBankiprovidesiwithiCreditiCardiandiLoaniServicesitheyitakeifeedbackifro
mitheicustomersitoiimproveitheiriservices.

References:
1. https://brandequity.economictimes.indiatimes.com/news/advertising/idfc-first-bank-
launches-alwaysyoufirst-campaign/70245845
2. https://www.idfcfirstbank.com/wholesale-banking/investment-banking.html
3. https://www.livemint.com/money/personal-finance/idfc-first-bank-credit-cards-come-
packed-with-benefits-11611568124177.html
4. https://www.icmrindia.org/casestudies/catalogue/Business%20Strategy/BSTR598.htm
5. https://www.idfcfirstbank.com/csr-activities.html
6. http://steconomiceuoradea.ro/anale/volume/2010/n2/173.pdf
7. https://www.instagram.com/idfcfirstbank/?hl=en