Promotion of Bank Marketing – a Study

It is a fact that banking services have witnessed a number of turning points. The perception of customer services and customer satisfaction is now found substantially changed. The sophisticated information technologies have started showing their influence on the quality of banking services. The promotional measures are sizably influenced by the emerging new trends in the development and use of new generation of information technologies. The banking organisations using advanced and sophisticated technologies have been successful in establishing an edge over the banks managed manually. Big budgets for promotion are not the basis for success. It is much more impact generating, proactive and productive. Promotion includes all marketing activities aimed at stimulating demand and demand can be stimulated by communicating with market. Thus the genesis of promotion or promotional efforts lies in effectively communicating with the market. The word communication is derived from a Latin word which means 'to share' and more fundamentally from the rootword 'communize', which means common communication involving sharing specific message with a target audience.

Table 1.2 Customer's response to influence of advertising on bank marketing The data contained in the Tables reveal that more than 51per cent of the customers opined that the influence ofadvertisement is 'moderate' in bank marketing bothlocation wise and region wise. And among the locations,the semi-urban area comes first in respect of stating thatthe influence of advertising is 'moderate'. Similarly, theNorthern region comes first among the regions. Theattitude of customers is similar to that of bank personnelregarding the influence of advertising in bank marketing. The second factor taken for analysis is the influence ofdeveloping new products in bank marketing. The datacontained in Tables 1.1 and 1.2 disclose the outcome ofthe study in location wise and region wise.

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(Figures in percentage)

The data furnished in the Table reveals that developing new products have 'high' influence in bank marketing (83.33 per cent). Among the locations, the study reveals that Semi urban area comes first (88.57 per cent) in this regard. Among the locations, the Rural area records the lowest influence but this also is more than 79 per cent. In region wise analysis, the Northern region comes first in the case of influence of new products in bank marketing (88 per cent) and the lowest influence is in the Southern region, but it is more than 79 per cent. Table 1.5 Customer's response to influence of public relation on bank marketing- Location wise Customer's response to influence of public relation on bank marketing- Region wise _ 'Figures in percentage) In the case of public relation, the information contained inTables 1.5 and 1.6 reveal the outcome of the study. Thedata contained in the Tables reveal that in the point ofview of customers, the influence of public relation inbank marketing occupies 'very high' influence (50 percent). By close verification it is clear from the Table thatmore than 95 per cent of customers opined that theinfluence of public relation is 'very high or high' in bankmarketing. In location wise analysis, it is found that amongthe locations, the rural area comes first and in region wiseanalysis it is clear that the Southern region comes first inthe case of influence in bank marketing. The next factor taken for study is the 'personal relation' inbank marketing. The data contained in Tables reveal thatmore than 75 per cent opined that the influence of'personal relation' in bank marketing is very high (75.44 percent) both in location wise and region wise. In locationwise analysis, the semi-urban area comes first in thisregard (80 per cent). In region wise analysis, the Southernregion comes first (93 per cent) in this regard. Both bankpersonnel and customers respond in the same wayregarding the influence of personal relation on bankmarketing and they give the highest preference forpersonal relation in bank marketing. The customer'saccessibility to bank personnel to express theirrequirements and to get the right direction is consideredthe prime aspect of bank marketing. Customer's response to influence of telemarketing on bankmarketing- Location wise In the case of telemarketing, thedata contained in this Tables reveal that the influence inbank marketing is 'low' both in location wise and regionwise (50, 89 per cent). Further, the data contained in theTable reveals that more than 88 per cent of the customersboth in location wise and region wise opined thattelemarketing as a factor for influencing bank marketinghas 'low' or 'very low' effect in bank marketing. Eventhough it has been introduced in Indian marketing, itsinfluence is confined to a few customers coming underhigh income bracket particularly from urban area. Studies about price mixing and place mixing were also conducted. The outcome of the studies is displayed in Tables 1.6 & 1.7 Table 1.6 Customer's response to influence of price mixing on bank marketing- Location wise (Figures in percentage)

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Customer's response to influence of price mixing on bank marketing - Region wise (Figures in percentage) Customer's response to influence of place mixing on bank marketing - Location wise (Figures in percentage) Table 1.7 Customer's response to influence of place mixing on bank marketing - Region wise

The data furnished in the Table reveals that the influence of price mixing and place mixing are 'moderate' in location wise and region wise. In location wise analysis of price mixing, the Table shows that among the locations, the ruralarea comes first (45.57 per cent) and among the regions,the southern region comes first in this regard. The datacontained in the Table shows that more than 74 per cent ofthe customers opined that the influence of price mixing iseither 'moderate' or 'low'. In the case of place mixing theinformation furnished in the Table reveals that among thelocations, the semi-urban area comes first in the influencein bank marketing. Another factor taken for study with regard to the influenceon bank marketing is physical attraction. The outcome ofthe study in connection with physical attraction isdescribed in Tables 1.8 and 1.9 in location wise and regionwise.

Table 1.9 Customer's response to influence of physical attraction on bank marketing–Region

The data contained in the Table shows that more than 77per cent are of the view that the influence of physicalattraction in bank marketing is 'moderate'. In location wise

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analysis it is found that both in the rural area and the semi-urban area the influence of physical attraction is somewhat the same, that is, 78.57 per cent and 78 per cent. In region wise analysis, the Southern region comes first (84.37 per cent) and the lowest is in the Northern region (59.57 per cent). The studies clearly show that physical attraction of bank personnel is also a factor which influences bank marketing that is it is not a negligible factor in banking. In the case of A TM, bank personnel responded that its influence in bank marketing is 'very low'. But by analysing customers' attitude towards ATM as a factor for bank marketing, the outcome of which can be seen in the data contained in Tables 5.49 and 5.50, it was seen that the influence is low in location wise and region wise (59.11 per cent). Customer's response to influence of ATM on bank marketing - Location wise Table 1.10 Customer's response to influence of ATM on bank marketing - Region wise

It is also found that more than 85 per cent come under the category of both 'low' and 'very low'. In location wise analysis the data contained in the Table reveals that among the locations, more than 54.57 per cent of the customers from Semi- urban area opined that the influence is low and in region wise studies, 85 per cent customers from the Southern region also state that the influence of ATM in bank marketing is low. Among the factors analysed to identify the influences on bank marketing, the last factor is professionalism. The data contained in the Tables 1.11 and 1.12 reveal the outcome of the study in location wise and region wise. Table 1.11 Customer's response to influence of Professionalism on bank marketing - Location wise

Table 1.12 Customer's response to influence of Professionalism on bank marketing - Region wise

The data contained in the Tables show the influence ofprofessionalism in bank marketing is 'high' in location wiseand region wise (73.54 per cent). Location wise it wasfound that, the Semi-urban area comes first in this regard(80.33 per cent) and in region wise analysis, the Southernregion comes first (80.33 per cent) and it is only one percent more than the Northern region. Out of all the factors taken for study, both bank personneland bank customers have opined that 'personal relation' isthe most important factor in bank marketing and is rankedby both groups as 'very high'. Customers ranked publicrelation also under 'very high' category, but bank personnelcategorised it under 'high'. In the case of developing newproducts and professionalism, both bank personnel andcustomers have the same point of view and they groupedthese factors under the category of 'high'. Advertising andphysical attraction have moderate influence and all otherfactors that is Telemarketing, price mixing and ATM areconsidered by bank personnel as having 'very low'

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influence in bank marketing but customers gave a 'low' rating to these factors.

1. Marry Ann Pezzullo. Marketing Financial Services, Mac Miilan, India Ltd. p 98. 2. Martin. L. Bell, Marketing Concept to Strategy, p. 755 3. Marry Ann Pezzullo, Marketing Financial Service, MacMillan Indian Ltd. p. 225. 4. Sorrels 13.D. Business Communications Fundamentals, p. 4. 5. Rachman D.J. and Romano. E, Modern Marketing, p.445. 6. Marry Ann Pezzullo, Marketing Financial Service, p. 227. 7. Saxena, K.K. Bank Marketing. Sky Lark Publication, Delhi, p. 55. 8. Marry Ann Pezzullo, Marketing Financial Service, p. 235. 9. Philip Kotler, Marketing Management, p. 529. 10. Jha SM, The Framing of Marketing Mix for Banking Services.