2022

CRM'S AT PUBLIC SECTOR

REPORT BANK SCOPE AND SUGESSTIONS

ANALYSIS
A Project
Submitted in partial fulfillment of the
Requirement for the award of the Degree of

BACHELOR OF BUSINESS
ADMINISTRATION
BY
PIYUSH KARMAKAR
(SBU200109)

PREPARED BY : PRESENTED TO :

PIYUSH KARMAKAR INDIAN OVERSEAS BANK

ACKNOWLEDGEMENT
I would like to offer my sincere gratitude to various people who
directly or indirectly contributed in the development of this work
and who influenced my thinking, behavior, and acts during the
course of study.

I am indebted to my project guide the branch manager [RITCHA

SANGITA KUJJUR] ASST. MANAGER [ VIVEK MEHTA] ASST. MANAGER
[ ANURAG ARPAN EKKA]
HEAD CASHIER [RESHMI KUMARI RAJAK] CLUB CASHIER [SANTOSH
KHALKHO] of the INDIAN OVERSEAS BANK and the entire SBU for
their support, co-operation and motivation provided to me during
the report. Many others had a direct or indirect to no means
negligible contribution to the completion of the report. This report
has been a learning experience for me and would not have been
possible without the support and guidance of the people
mentioned above. Needless to say, I alone remain responsible for
any errors that might have crept into the page, despite of my best
possible efforts to avoid them.

01
 CONTENTS

TABLE OF CONTENTS

01 WHAT IS CRM
O5 MARKETING PROSPECTUS

02 ABOUT IOB
06 STRATEGIES

03 SERVICES PROVIDED BY IOB

07 Future Company Developments

04 Brief Project Information

08 4PS FOR IOB SUGESSTIONS
 Internship Objective

➢ Internships are generally thought of to be reserved for

college students looking to gain experience in a particular
field. However, a wide array of people can benefit from
Training Internships in order to receive real-world and
develop their skills.

➢ An objective for this position should emphasize the skills

you already possess in the area and your interest in learning
more .

➢ Internship are utilised in several different fields,

including architecture, healthcare, economics, advertising,
engineering and many ,more.

➢ allow individuals to perform scientific research while

others are specially designed to allow people to gain first-
hand experience working.

➢ Utilizing internship is a great way to build your resume

and develop skills that can be emphasized in your resume
for the future jobs. When you are applying for a training
internship, make sure to highlight any special skills or
talents that can make you stand apart from the rest of the
applicants so that you have an improved chance of landing
the position.
06
 CRM AT PUBLIC SECTOR BANK

INTRODUCTION
Today’s banking customers have their minds on
their money and their money on their mobile
devices. From prequalifying for a loan via a
smartphone to exploring credit card options on
a laptop, customers have fully embraced the
convenience that the digital age has brought to
the banking industry.
But with the ever-expanding number of options
available, it’s not uncommon for customers to
seek services from more than one bank. A
homeowner could have their mortgage through
one financial institution, a personal loan through
another, and several credit cards through
different banks and retail stores.
Because of customer demands and increasing
competition, banks need to adopt a modern,
customer-focused approach to service, making
the importance of a CRM in the banking
industry more valuable than ever before.

01
What is a CRM in the Banking
Industry?

A Brief Story
About The CRM

Customer relationship management

(CRM) is a necessity in any customer-
focused industry. For banks, it’s an
especially useful tool for meeting sales
and marketing goals and exceeding
customer expectations.

CRM software is a tailored solution that helps

banks implement customer-centric strategies.
Under one system, bank tellers and employees
can:

Store customer data such as contact

information, products used, and interactions.

Schedule appointments, send personalized

emails, and respond to social media posts.
Update customer profiles in real time with
notes or new information.
Visualize, nurture, and manage leads in their
sales pipeline.
Create reports that analyze customer
behavior, marketing campaign performance,
and more.

05
Customer Relation Management in Public Sector
Bank
CRM is one of the strategies to manage customer
as it focuses on understanding customer as part of
a group.
Provide single view to every customer. from making
a deposits at an ATM to requesting information
about a certain type of loan, every pre- determined
actions a customer take can be recorded in our
CRM.

BENEFITS
leverage a 360- degree view of every
customer.
Improve customer retention
Enable quick processes.

WORK
use insights to improve sales and
marketing efforts
Make your staff more productive.

ROLE
CRM
CUSTOMER SATISFACTIION
CUSTOMER LOYALITY
DATA
INFORMATION
BANKS

KEY WORDS
ATTITUDE
BEHAVIOUR
CUSTOMER
SATISFACTION
MANAGEMENT
RELATIONSHIP

10
BANKING IN
INDIA

RURAL HOUSEHOLDS

88%
Around 88% of rural households in India are estimated to have a savings
account at an accredited financial institution, according to a report by
the National Bank for Agriculture and Rural Development (NABARD), a
development bank that is a key facilitator of the government’s financial
inclusion agenda. The average annual savings for a rural household was
found to be ₹17,488.

URBAN HOUSEHOLDS

99% Nearly 81% women in urban India and 77.4% in the country's rural area own a
bank account that they operate themselves, as per the National Family
Health Survey-5 (2019-21), the findings of which were released on
Wednesday. Overall, there has been a big jump in numbers, with 78.6%
women across India owning bank accounts as compared to 53% recorded in
NFHS-4 (2015-16)

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TYPES OF ACCOUNT
SAVINGS ACCOUNT

These are deposit accounts meant to help

01
consumers save their money. A savings
account can be opened by any individual in
India who holds an Aadhaar card and a PAN
card, both of which are mandatory to open a
bank account in India.

CURRENT ACCOUUNT

Current accounts are mostly business

02
accounts where money is frequently
transferred between financial accounts. These
accounts are best suited for transactions by
corporations and business owners for daily
business activities.

SALARY ACCOUNT

These accounts are opened by banks upon the

03 request of big corporations and businesses

that pay their employees through banks. Each
employee is eligible to maintain a salary
account in which the company they are
employed with credits a monthly salary.

NRI ACCOUNT

04 These accounts are opened by non-resident

Indians who wish to maintain a financial bank
account in India.
About
Indian
overseas
Bank
A Brief Story About The IOB
Indian Overseas Bank (IOB) is a major Indian nationalised bank. It
is under the ownership of Ministry of Finance, Government of
India based in Tamil Nadu, India, with about 3,214 domestic
branches, about 4 foreign branches and representative office.
Founded in February 1937 by M. Ct. M. Chidambaram Chettyar
with twin objectives of specialising in foreign exchange business
and overseas banking, it has created various milestones in Indian
Banking Sector. During the nationalisation, IOB was one of the 14
major banks taken over by the government of India. On 5
December 2021, IOB got Degidhan Award 2020–21 by Ministry of
Electronics & Information Technology for achieving second
highest percentage of digital payment transaction among public
sector banks. As on 31 March 2022, IOB's total business stands at
₹417,960 crore (US$52 billion).

01
 Businesses

01 Personal Banking 02 NRI banking

IOB provides a wide range of products and services Ex It offers remittances, resident foreign
such as saving bank accounts, current accounts, currency accounts, NRI home loans and
term deposit, retail loans, home loans and many other products for its NRI clients.
mortgages, depository services, gold investment
products, debit and credit cards, multi city cheque
facilities, insurance and mutual funds, and real time
gross settlement services.

03 Corporate banking 04 Creative

IOB such as term loans and working capital
loans for micro, small, and medium enterprises;
and loans for professional and self employed
individuals, and information technology (IT) Explain your the most powerful factor to
and ITes BPO sectors, as well as NRI accounts, define how the company daily operations
and Internet and mobile banking services. In can be done. Most of people often explain
addition, it provides agricultural short term the key factor depends on the primaries
loans and agri business consultancy services; and secondaries products/services data
and forex collection services.

03
 SERVICES PROVIDED
BY INDIAN OVERSEAS
BANK

Indian Overseas Bank (IOB) was founded in February 1937

with twin objectives of specialising in foreign exchange
business and overseas banking. It started out with three
branches located at Karaikudi and Chennai in India and
Rangoon in Burma (presently Myanmar).
As of March 31, 2011, it operated a network of approximately
2,184 branches in India, 2 in Hong Kong, and 1 each in
Singapore, South Korea, Sri Lanka, and Bangkok. The
company also operates 1,043 automated teller machines.
It was ranked no.1 among public sector banks by Business
Today –PMG survey and Financial Express– Ernst & Young
survey.

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 Deposit Account

01 SAVINGS ACCOUNT

Savings with IOB is always preferred as it provides the best services to its
customers.
Indian Overseas Bank is a banking, insurance and industry pioneer that
focuses on foreign exchange businesses and trade finance. IOB was the
first bank to foray into the consumer credit space and started providing
personal loans well before it was nationalised.
Indian Overseas Bank has multiple types of savings accounts aimed at
suiting the requirements of different individuals, institutions,
organisations, etc. Interested customers can choose anything from a
basic savings account to a premium savings account in addition to a
joint savings account. The number of permitted withdrawals from an IOB
Savings account is fifty every 6 months in a financial year. For a savings
account with IOB which is opened in the middle of the year, the
approved withdrawals will be calculated on a pro rata basis. A service
charge at rates as advised from time to time will be levied if the number
of withdrawal exceeds the permitted limit.
There are different types of IOB savings accounts that can cater to
various needs and requirements.

02 Current Account
Indian Overseas Bank offers various type of current accounts for
businessmen, firms, companies, etc. to customers to serve their
needs.

03
 LOANS

01 HOME LOAN
Indian Overseas Bank offers ‘Subha Gruha’ home loans @ 8.45%
p.a. onwards for loan tenures of up to 30 years and loan amounts
of up to 90% of property’s value. The bank offers repayment holiday
periods of up to 18 months for under-construction property from
the date of first loan disbursement or the completion of
construction, whichever is earlier. The maximum repayment holiday
period is 3 months incase of home loan availed for home
purchases.

02 PERSONAL LOAN

Indian Overseas Bank offers personal loans @ interest rates

starting from 10.90% p.a. onwards for loan amounts of up to Rs 15
lakh and for tenures of up to 7 years. It also offers personal loans to
HNI (IOB Royal), special personal loans for those with minimum
gross income of Rs 75,000.

03
 LOANS

03 CAR LOAN
IIndian Overseas Bank (IOB) is a major public sector bank in India
headquartered at Chennai, Tamil Nadu. Established in the year
1937, the Bank is known for its wide range of banking and financial
services covering the personal, corporate, NRI and agricultural
sectors. Indian Overseas Bank offers banking products and services
and has about over 3700 domestic branches and more than 3300
ATMs spread all over the country.
The Indian Overseas car loan just happens to be one of the most
sought financing products for cars. It comes with attractive benefits
like easy loan sanction, competitive interest rates and a long
repayment time period.

IThe car loan provided by Indian Overseas Bank is better known

as the Pushpaka car loan scheme, and it comes with a number of
repayment options including easy payments and other benefits.
The Indian Overseas Bank charges lower interest rates than most
of its competition. IOB also offers to finance relatively huge
portions of the total car cost.

Get your car financed up to a loan amount of 90% of the cost

of a new car and 75% of the market value of a used car.
For the car loan offered by Indian Overseas Bank, customers
can easily pay back the loan amount through EMIs during the
long repayment tenure options of up to 7 years
The repayment tenure is flexible and there are no foreclosure
charges for IOB car loan.
The Indian Overseas Bank requires the car loan applicants to
submit a security or collateral with the bank, against which the
car loan is provided. In case of a new vehicle, the vehicle needs
to be hypothecated to the bank by mentioning the name of
Indian Overseas Bank in the vehicle’s registration certificate
book.
A small processing fee is charged with the car loan from Indian
Overseas Bank depending on the total loan amount that has
03
been borrowed.
 LOANS

04 LOAN AGAINTS PROPERTY

Indian Overseas Bank provides loan against
property to its customers to meet urgent financial
needs. The maximum loan amount is up to Rs. 2
crore.

05 EDUCATION LOAN

IInvesting in education offers the best interest and is most

beneficial in long run. A good education from a recognized
educational institution can build a great career for a student or
aspirant. However, as the awareness for the need of good
education is growing, its cost is also increasing simultaneously.
Many banking institutions are coming up with a scheme for
education loans to make education easier and more stress-free
for the student and the parents. In an attempt to ensure that
students get utmost financial benefits during their education
whether in India or abroad, Indian Overseas Bank provides an
extensive education loan scheme with attractive interest rates and
discounts along with flexible repayment options and higher loan
amount.
Indian Overseas Bank is one of the leading public sector bank,
headquartered in Chennai. It has 3700 branches all over India. It
has few branches outside India as well. Mr. R Koteeswaran is the
MD and CEO of Indian Overseas Bank.
Indian Overseas Bank provides educational loans so that students
can pursue their studies within India and overseas as well. Indian
Overseas Bank education loan covers a range of programmes and
disciplines offered by different educational institutions of India.
Indian Overseas Bank offers 2 education loan schemes. They are
“Vidya Jyothi” and “Vidya Jyothi Suraksha”. A lot of academic
courses in India and overseas are covered under these schemes.

03
 INVESTMENT

01 FIXED DEPOSITS FD
IIndian Overseas Bank offers FD interest rates of 3.00-5.70% p.a. to
the general public, 3.50-6.20% p.a. to senior citizens on tenures
ranging from 7 days to 3 years and above. The interest rate on
Indian Overseas Bank Tax Saving FDs is 5.70% p.a. for the general
public and 6.20% p.a. for senior citizen depositors for tenures of 5 to
10 years. The bank also offers various fixed deposit products for
NRIs, such as NRO, NRE, RFC and FCNR fixed deposits. Indian
Overseas Bank accepts FCNR fixed deposits in US Dollars (USD),
British Pound Sterling (GBP), Euro (EUR), Japanese Yen (JPY),
Canadian Dollar (CAD), Australian Dollar (AUD), Swiss Franc
(CHF), New Zealand Dollar (NZD) and Singapore Dollar (SGD). The
bank accepts RFC fixed deposits in USD, GBP, EUR, JPY, CAD and
AUD.

02 Recurring Deposit

OB provides a recurring deposit for a period ranging from 6 to 120

months and with a minimum deposit of Rs. 50 per month in
multiples of Rs. 5 each.

03
Date//Time//Year

Cards

01 Credit Card
IIndian Overseas Bank offers 2 types of credit cards to its
customers to cater to the needs of its needs customers. The
minimum card limit is Rs. 10,000 and the maximum limit is Rs. 5
lakh.

02 Debit Card

IOB (Indian Overseas Bank) is a public sector bank based in

Chennai, Tamil Nadu. It was founded in February 1937 in 3 branches
simultaneously- Chennai (India), Rangoon (Burma), and Penang
(Kuala Lumpur). The bank has 3700+ branches and ISO certified IT
departments with advanced technology to provide smooth online
banking services to its users. Indian Overseas Bank is handling a
wide network of 3300+ ATMs in our country. The bank has started
working more towards internet-based banking facility and data
analytics. IOB is the first public sector bank to enable advanced
digital banking software.
In 2000, Indian Overseas Bank got engaged into IPOs (Initial Public
Offerings). In 2005, IOB introduced its debit card and in 2006, the
bank introduced VISA cards.

03
 BANKING

01
Bank Balance Check
Indian Overseas Bank (IOB) bank offers its customers
plenty of offline as well as online modes of carrying
banking transactions such as balance enquiry, money
transfer, bill payment, etc. For offline IOB banking services,
the customers can visit the bank or ATM and for online
services, IOB account holders can use the bank’s net
banking website or mobile apps.

02 IOB Mobile Banking

Keeping up with the digitalization, customers of Indian Overseas

Bank can make use of the bank’s mobile apps to carry out most of
the banking activities. You can view your transaction history
anytime, manage several IOB accounts and get eStatement etc.
Along with these, you can make UPI transactions any time of the
day using the BHIM IOB UPI app.
Read further to know more about the services offered by the Indian
Overseas Bank on mobile and how you can benefit from it.

03
 BANKING

01
Net Banking

Indian Overseas Bank account holders can check their

account balance, transfer funds, open deposit accounts
and many more via Net Banking Facility.

02 IOB Customer Care

Indian Overseas Bank or IOB is one of the major public sector

banks in India. It offers complete banking solution to
customers that include savings accounts, fixed deposits, loans,
credit cards, etc. The well-established IOB customer care
department takes care of any query, feedback or complaint
made by the customers. Here are the details of the same.

03
 Marketing prospectus
of Indian Overseas
Bank
Over the years, Indian Overseas Bank, popularly known as IOB has
emerged as one of the leading banks of our country and part of its
success can be attributed to its marketing strategy and having a
strong marketing strategy is crucial for any brand to reach its
customer base.

In this case study, we will dig a little deeper into how the Indian
Overseas Bank has rolled out its marketing plan by going through its
4Ps of the marketing mix, its marketing strategies and the digital
presence that it has built over the years.

Marketing Mix of Indian Overseas Bank

Marketing is one of the most important departments in any

company and helps in giving their products proper exposure as 96,17%
there are lots of competitors in the market. Proper planning of Customer Satisfaction
the marketing mix has helped IOB’s products and services be
more recognizable and helps a business reach its targeted
customers.

The purpose of a marketing mix is that it helps us understand a

company’s operations on the parameters of 4Ps: Product,
Price, Place, and Promotion. So let us go through IOB’s
marketing mix strategy.

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Product Strategy of Indian
Overseas Bank
Strategy
IOB product strategy is to primarily provide banking
services, as well as it has its own products like credit
cards and debit cards. The Bank’s offerings are divided
into the following categories:

· Savings bank account and Current accounts

· Retail Products
· IOB Card Products
· Third-party insurances
. Term deposits

Apart from these, IOB offers online payment systems,

internet banking applications, mobile banking solutions,
and smartphone applications.

04
Price Strategy of Indian
Overseas Bank

Indian Overseas Bank’s pricing policy is

consistent with what other public sector banks
are doing under government orders and
Reserve Bank of India’s (RBI) regulations.

To draw clients, Indian Overseas Bank

maintains its fees at competitive rates. In
7% order to support the small industries, the
interest rates on MSME and agricultural loans,
as well as service fees, are kept modest
depending upon the economic climate of the
country.

12% Indian Overseas Bank’s interest rates are

between 7.05% to 12.05% depending on the
type of loan and the loan period, with longer
loans incurring higher fees.

15
Place and Distribution Strategy
of Indian Overseas Bank

Indian Overseas Bank currently has over

3,300 branches across India. The branches
are classified into four categories: rural,
semi-urban, urban, and metropolitan.
Seven zonal offices and 49 provincial
offices oversee the Indian Overseas Bank’s
branches. 18 dedicated MSME distribution
centres help micro-businesses get loans
faster.

Every year, Indian Overseas Bank adds new

branches to extend its presence, with a
particular emphasis on rural areas in order
to attract new customers and provide
basic financial services under the financial
inclusion scheme.

Also, Indian Overseas Bank has eight

overseas branches in Hong Kong, Bangkok,
Sri Lanka, South Korea, and Singapore.

06
Promotion & Advertising Strategy of
Indian Overseas Bank

The following is the promotional and advertisement

plan for the Indian Overseas Bank’s marketing policy:

Indian Overseas Bank predominantly uses print

media and branch locations to inform its clients. It
also uses outdoor advertising as well.
It also uses its website and SMSs to reinforce its
name, as well as the different schemes it
publishes at regular intervals.

It signed popular badminton player, Saina

Nehwal as its brand ambassador.
· Under Chidambaram Chettiar Memorial Trust, the
bank engages in numerous CSR activities such as
establishing vocational training institutes, making
donations, imparting financial literacy to a large
number of citizens through financial literacy
centres, and other activities
Since IOB is a service company, here are the other
3Ps: People, Process, and Physical Evidence to
make it the 7Ps of the marketing mix of Indian
Overseas Bank.

06
Promotion & Advertising Strategy of
Indian Overseas Bank
The following is the promotional and
advertisement plan for the Indian Overseas
Bank’s marketing policy:

Indian Overseas Bank predominantly uses print

media and branch locations to inform its
clients. It also uses outdoor advertising as well
It also uses its website and SMSs to reinforce
its name, as well as the different schemes it
publishes at regular intervals
It signed popular badminton player, Saina
Nehwal as its brand ambassador

Under Chidambaram Chettiar Memorial Trust,

the bank engages in numerous CSR activities
such as establishing vocational training
institutes, making donations, imparting financial
literacy to a large number of citizens through
financial literacy centres, and other activities
Since IOB is a service company, here are the
other 3Ps: People, Process, and Physical
Evidence to make it the 7Ps of the marketing
mix of Indian Overseas Bank.

06
 People Strategy of Indian Overseas Bank
Indian Overseas Bank is committed to staying current with
innovations and extending its presence year after year. The
Indian Overseas Bank directly employs over 31,000 people.

Employees of the Indian Overseas Bank also attend regular

pieces of training, seminars, and circulars to remain current
on current technology and banking activities.

According to the policies, the remuneration given is

comparable to that of other public sector banks. Indian
Overseas Bank performs routine appraisals in accordance
with the criteria and provides sufficient opportunities for
advancement and advancement. Allowances, pay arrears
benefits, gratuity, and leave encashment are only some of the
elements of the remuneration structure.

Process Strategy of Indian Overseas Bank

Indian Overseas Bank has recently upgraded its infrastructure in
order to increase the performance of its different operations.

It has moved to Finance, a core banking software (CBS),

which is used by many financial institutions around the world.
The bank has now reached 100% CBS, which means that all of
its branches now provide services through the bank’s intranet.

The same has been used to automate the data. In order to

facilitate the digital transitions, IOB Pay, an internet banking
network for mobiles, USSD transfers, UPI, and prepaid cards
have been implemented.

06
 Physical Evidence Parameter of Indian Overseas
Bank
Deposits, advances, withdrawals, and other payment options are
handled in different parts of the branches. Paperwork is also
there, and numerous transfers can be completed in branches, as
is the case in the majority of rural regions.

Indian Overseas Bank also has 3,000+ ATMs situated across the
country that one can use for simple transactions without having
to go to the branch every time.

The best permutation of the marketing mix has worked in the

bank’s favour and helped its offerings reach millions of
customers. Now let us go through the marketing strategies of the
IOB bank in the coming section.

Marketing Strategy of Indian Overseas

Bank
The importance of marketing strategy in business
success is no unknown concept. Marketing strategy is the
road map from where you are to where you want to be. It
helps an organization achieve its goals. So let us see
some of the marketing strategies that IOB has
implemented for a better customer experience and
brand connection.

Apart from keeping its interest rates low on select

products to attract customers, the bank has also worked
extensively on digitalization.

06
 Digital Marketing Strategy of Indian
Overseas Bank

Hoping on the trend of digitalization, Indian Overseas Bank

has launched a series of digital initiatives keeping the
following principles in mind:

· Customer first
· Customer Satisfaction
· One-Stop-Shop
· Offline to Online Banking

Mobile App – IOB Nanban

To provide banking with ease, the bank
has launched its mobile application
called IOB Nanban exclusively for its
customers to indulge in non-financial
transactions. This app is available on
the google play store and app store
and can be used to access the details
of various services offered by the
bank. Using GPS, the app also provides
the location of the nearest branches
and ATMs.

06
Facebook Chatbot
To provide better customer services and aid their customers in
addressing their grievances, the bank has launched an interactive
Facebook chatbot which is an integrated service with their mobile
app.

Here customers are not required to talk to a real person in the

bank, Facebook Chatbot allow customers to interact with the bank
through a live chat option on their website. This platform provides
faster interaction with customer service as well as a quicker
response time.

BBPS (Bharat Bill Payment System)

The National Payments Corporation of India (NPCI) has
launched an integrated system in order to offer online
bill payment services through their initiative – Bharat
Bill Payment System (BBPS).

Indian Overseas bank being the foremost financial

institution to get approval from RBI, and has
incorporated BBPS for the convenience of their
customers. IOB customers can now give directions to
the bank to pay their bills on their behalf.

06
Digital Approach on
Customer Feedback
In order to improve their services and get a
better idea of their customer needs, IOB
launched a program to get their customer’s
opinions on their services. They launched an
initiative for their customers to express their
banking experiences through missed calls. All
the customers were required to give a missed
call on pre-determined numbers based on their
positive/negative experiences.

Unhappy: 8828846220 Happy: 8828846625

This data would be downloaded by the customer care

department and would further aid in better
understanding and resolving customer grievances.

Let us now go through the marketing and advertising

campaigns of IOB in the coming section.

06
 Marketing & Advertising Campaigns
of Indian Overseas Bank
A good brand’s marketing campaigns are designed to create
awareness, generate enthusiasm, and build trust. The success of a
marketing campaign depends largely on your ability to create a
positive perception of the brand in the minds of your consumers.

Let us look at the most popular campaign of Indian Overseas Bank in

the coming section..

Touching Hearts, Spreading Smiles

– A Marketing Campaign of IOB
IOB launched its marketing campaign, “Touching Hearts
Spreading Smiles”. It revolved around painting a rosy picture of
people with positive emotion. The campaign aims at raising
brand awareness by drawing a parallel between bringing a smile
on and the services it provides.

It released a series of advertisements featuring its brand

ambassador Saina Nehwal. This campaign was launched back in
2014.

With this we have come to the conclusion of this case study .

06
 www.reallygreatsite.com

Conclusion

Because, we're here to help

The marketing strategy of Indian Overseas
Bank has helped the company hold its roots in
our country and is the reason why the bank is
considered as one of the leading banks of our
country.

Although when compared to their competitors,

the bank has also faltered when it comes to
the redressal of customer grievances on online
portals. Now, with digitalization in focus, the
banking company looks to set its fortunes right
in the coming years.
MARKETING STRATEGIES OF
PUBLIC SECTOR BANKS
[suggestion]

PRODUCT STRATEGY
In a banking strategy all banks offer the same
type of products. Actually the bank takes less
time and no additional investment to develop a
financial product or service. Thus it is better to 24

focus on
Some ideas relating to products. So the banks
are required to adopt suitable marketing
strategies to improve the volume of business
level. Keeping this view the opinion of the
bankers was asked about some of the product
strategy.

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MARKETING STRATEGIES OF
PUBLIC SECTOR BANKS
[suggestion]

PLACE STRATEGY
Suitable place of the bank branch remains the
cornerstone on banking business. Therefore
management always attempts to locate the
branch at the most suitable place, but faraway 24

location
is considered as unsuitable from the business
point of view. So the selection of an appropriate
place for the establishment of a branch is very
important.

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MARKETING STRATEGIES OF
PUBLIC SECTOR BANKS
[suggestion]

PROMOTION STRATEGY
IPromotion strategy is very important when the
banks are offering new and innovative services
frequently in the market. The promotional tools
should help the customer in making 24

most valuable decision. So well designed

promotional strategies are very important to
promote banking services effectively.

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MARKETING STRATEGIES OF
PUBLIC SECTOR BANKS
[suggestion]

Price strategy

In banking services the correct prices has

become an essential element for the marketing
strategy. Pricing decisions are found an 24

instrumental in motivating or influencing the

target market.

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MARKETING STRATEGIES OF
PUBLIC SECTOR BANKS
[suggestion]

PEOPLE STRATEGY
Employee plays an important role in the
marketing operations of a service organization.
So the banker’s attention should be focused on
employee service quality and to develop of their 24

service skills consistently. It includes attitude,

behavior, expertise, courtesy and willingness to
help the employees towards customer.

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MARKETING STRATEGIES OF
PUBLIC SECTOR BANKS
[suggestion]

PHYSICAL EVIDENCE STRATEGY

The physical evidence is also important for banks

because it conveys to the customers an external image
of the service package. If a bank wants to have user
friendly, hi-tech and efficient image, the branch 24

infrastructure will have a comfortable seating, pleasant

lighting and that the most of the bankers have the
opinion that the branches have adequate floor space,
air conditioned premises, adequate waiting space, more
counters etc. More or less bankers expressed their overall
satisfaction regarding the physical facilities available in
their respective branch premises. Overcrowding is one of
the major problems at the beginning of the month.

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MARKETING STRATEGIES OF
PUBLIC SECTOR BANKS
[suggestion]

PROCESS STRATEGY
The well designed process assures service
availability, consistent quality, easy and
convenience to the customers. But the process
involved in the banking services should be easy 24

and smooth, fast and accurate and customer

friendly. Following are some of the process
related strategies followed by the public sector
banks.

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