Marketing,Banking,With,access, marketing Marketing In Banking
Automation technologies represent a fundamental aspect of any modern industry. The major types of industrial automation solutions, such as DCS, PLC, SCADA, and MES, are used on a large-scale in process and discrete industries.DCS technologie Awhile ago, I got an email from one of the "gurus" I follow and it shocked me. The gist of it was this person wanted to trade services for a household item.To say it floored me would be an understatement.What was worse was a few days later t
With access to cheaper funds through GDR/ADR issues, Euro loans etc. big corporations are shying away from bank finance. This trend of disintermediation among corporate has caused the banks to focus on Retail portfolio for growth. Retailing makes sense from Risk Management perspective also since it reduces Concentration Risk. With the focus on Retail Banking, banks are giving market segmentation a serious look to identify the differences between groups of potential customers and to decide which products can be served to which groups.There are the following groups of banking customers:Self-Directed Planners. Well educated, slightly above average income, seek financial information from variety of sources and retain control of financial matters, frequently use financial products, open to borrowing, accept reasonable risk.Simplifiers. Less educated, less affluent, older, do not seek financial advice often, use fewer more basic products, prefer local banks, least open to borrowing, tolerate low risk only, not sensitive to price, prefer face to face contact.Fickle Shoppers. Average income, predominantly non working female, do not seek financial advice, use fewer more basic products, open to borrowing particularly on credit cards, accept reasonable risk, not so sensitive to price, prefer remote channels specifically ATM or telephone banking.Advice Seekers. Well educated, affluent, predominantly male, seek financial advice, heavy users of financial products, higher transaction frequency, tolerate higher risk, very sensitive to price, prefer face to face contact.When it comes to segmenting industry for lending Small & Medium Enterprises are the current favourites of both banks and RBI. There is increasing talk of banking sector getting transformed from large number of small banks to small number of large banks. The presumption is that there is a definite premium on size. But as long as they have a niche in customer service, small banks will continue to exist and thrive since banking is no assembly line manufacturing and is all about building and fostering customer relationships
Marketing,Banking,With,access,