Service marketing by banking sector

Service marketing by banking sector Service marketing New and innovative methods of marketing services used by banking sector Introduction A bank is a financial institution licensed by a government. Its primary activities include borrowing and lending money.Banks no longer restricted themselves to traditional banking activities, but explored newer avenues to increase business and capture new market. -In the 1990s, greater emphasis being placed on technology and innovation. -New concept like personal banking, retail banking, total branch automation, etc were introduced Banks activities can be divided into retail banking, dealing directly with individuals and small businesses; business banking, providing services to mid-market business; corporate banking, directed at large business entities; private banking, providing wealth management services to high net worth individuals and families; and investment banking, relating to activities on the financial markets. Most banks are profit-making, private enterprises. However, some are owned by government, or are non-profit organizations. Banks offer many different channels to access their banking and other services- 1- Bank branch 2- ATM 3- Mail 4- Telephone banking 5- Online banking 6- Mobile banking 7- Video banking New innovative method of marketing services used by banking sector 1- E-banking-Enables people to carry out most of their banking transaction using a safe website which is operated by their respected bank. 2- Core banking- it include knowing customer needs. Depositing and lending of money. Providing core banking solution. 3- Corporate banking- it includes providing financial solution to large corporate and MNCs. 4- Mobile banking- it helps in balance inquiry, fund transfer, cheque book request etc. 5- Plastic money-Plastic money are the alternative to the cash or standard money, it is convinent to carry and generic term for all types of bank cards, debit cards, credit cards, smart cards. 6- NRI banking-This facility is designed for diverse banking requirements of the vast NRI population spread across the globe. 7- TOTAL BRANCH AUTOMATION-this is one of the latest towards paper less transactions, it is more customer friendly and flexible that has speed up bank transaction and with less error possibility. Marketing mix of banking sector The marketing mix of banking sector includes 7 ps that are explained below so that they can understand their customers better and provide them good services. Products BANKS PRODUCTS: (A) DEPOSITS: Savings, Current, Fixed etc. (B) ADVANCES:a) Term Loan,b) Clean Loan, c) Bills Discounting, d) Advances, e) Pre-shipment Finance, f) Post-shipment finance, g) Secured and Unsecured lines of credit. (2) Non-fund oriented: a) Guarantees, and b) Letter of Credit. (C) INTERNATIONAL BANKING: a) Letter of Credit, and b) Foreign Currency. (D) CONSULTANCY: a) Investment Counselling, b) Project Counselling, c) Merchant Banking, and d) Tax Consultancy. (E) MISCELLANEOUS: a) Traveller Cheques, b) Credit card, c) Remittances, d) Collections, e) Sale of Drafts, f) Standing instructions, and g) Trusteeship. Price- The price mix in the banking sector is nothing but the interest rates charged by the different banks. Lets understand this with an example. A particular buyer approaches for a car loan say for a period of 3 years. He is charged Rs. 20,000 as interest. however if a sales representative of another bank comes to know of this deal he will try to attract the customer by giving him a better deal that is a loan at a lower rate on interest. In this way due to the high level of competition the customer benefits. Pricing This type of pricing is mainly done by banks having unique or different products or schemes. They usually charge a combination of high and low prices depending on the customer loyalty as well as the products. This type of pricing strategy is usually coupled with promotion programmes. -Going rate pricing: -Mark up pricing: Place Place mix is the location analysis for banks branches. There are number a factors affecting the determination of the location of the branch of bank. Like population characteristics, commercial, proximity of other commercial outlets. Promotion Promotion is nothing but making the customer more and more aware of the services and benefits provided by the bank. The banks today can use a lot of new technology to communicate to their customers. Two of the fastest growing modern tools of communicating with the customers are: 1. Internet Banking 2. Mobile Banking Process The process mix constitutes the overall procedure involved in using the services offered by the bank. Lets take for example the process for application for a car loan. Now this mainly involves 3 things. 1. Producing of proper documents 2. Filling up of application form 3. Paying for the initial down payment Physical evidence Physical evidence is the overall layout of the place. How the entire bank has been designed. Physical evidence refers to all those factors that helps make the process much easier and smoother. For example in case of a bank the physical evidence would be the placement of the customer service executives desk, or the location of the place for depositing Cheques. It is very necessary the place is designed in such a manner so as to ensure maximum convenience to the customer and cause no confusion to him Interpretation and recommendation Banks are the most significant players in the Indian financial market. They are the biggest purveyors of credit, and they also attract most of the savings from the population. Dominated by public sector, the banking industry has so far acted as an efficient partner in the growth and the development of the country. Driven by the socialist ideologies and the welfare state concept, public sector banks have long been the supporters of agriculture and other priority sectors. They act as crucial channels of the government in its efforts to ensure equitable economic development. The Indian banking can be broadly categorized into nationalized (government owned), private banks and specialized banking institutions. The Reserve Bank of India acts a centralized body monitoring any discrepancies and shortcoming in the system. The Indian banking has finally worked up to the competitive dynamics of the ‘new Indian market and is addressing the relevant issues to take on the multifarious challenges of globalization. -Banks that employ IT solutions are perceived to be ‘futuristic and proactive players capable of meeting the multifarious requirements of the large customers base. -Private Banks have been fast on the uptake and are reorienting their strategies using the internet as a medium The Internet has emerged as the new and challenging frontier of marketing with the conventional physical world tenets being just as applicable like in any other marketing medium. Since for Indian banks globalization can be a good opportunity that they can exploit that will lead to increased revenue, size and scale.

Legalizing gambling in Hawaii Essay

I say we should legalize gambling in Hawaii. First of all, it would drastically increase Hawaii’s revenue and flow of tourism. Hawaii is already mainly dependent on tourism for incoming revenue. Some claim that crime might rise, but crime is there regardless of any laws, in any city, state, or country one might reside in. The state could utilize some of the vastly refined revenues to amplify law enforcement. This will help combat any criminal activity. A good defense is a strong offense. Many say that gambling corrupts moral values, but it is one’s own responsibility to control themselves, and pass on, or maybe arbitrate, knowledge to their children: the importance of moral values. For example, many people blame television for the corruption of their children and making them stupid. I blame the parents for letting them watch those television shows. Parents should apply, even if by force, the rules to gambling. Don’t gamble unless you know the odds are in your favor. Gambling occurs every single day, everywhere. The state should take advantage of this by legalizing gambling and taxing it. Do we really need more criminals? No, we need more revenue. If we tax individuals that already illegally gamble, the state would have made millions in taxes. There already are poker, baccarat, black jack, and machine room houses. It is true gambling is not for everyone, especially stupid people. â€Å"Why? † you may ask. It is because stupid people make stupid choices. There should be a limit to how much money an individual can gamble with per year, depending on their income and winnings. This is traceable by their taxes. For example, if one person makes $40,000 per year, and have no dependents, they are only allowed to gamble $10,000 to $15,000 for that fiscal year. This will ensure that the individual’s life may still function. Crackheads and homeless people should not be able to gamble because this would most likely inspire them to pursue criminal activity for money to gamble with. The current illegal gambling houses that use computerized machines are full of these crackheads. It is because there are no rules in these current gambling facilities, that many have gambled away all their money, and live a criminal life in poverty. Why not start small and test the waters? The state should allow only a certain small district or street to open legal casinos. Even if the taxes are ridiculously high for these casinos, there is no doubt that entrepreneurs and businesspeople will open them, anyway. With the high stream of income from gambling and tourism taxes, the residents of Hawaii deserve a tax break. We have been struggling with high taxes for too long. If gambling were legalized in Hawaii, there is no doubt that alcohol would be cheaper. Prostitution would also increase, but a smart government would also take advantage of that. They should legalize prostitution and tax that as well! Well, they should, under closed and controlled areas of course. In conclusion, if Hawaii legalized gambling, it would greatly benefit our economy. The human species are best known for adapting to new things and new environments. We could adapt to this and have a great life.

Introduction to the Japanese Word Shibaru

Shibaru  is a  Japanese word that means to bind, to tie or to fasten. In Japanese characters,  Shibaru   is ç ¸â€ºÃ£â€šâ€¹ 㠁â€"㠁 °Ã£â€šâ€¹. Example Watashi wa nanigoto nimo shibarareru nowa iya da.ç § Ã£  ¯Ã¤ ½â€¢Ã¤ ºâ€¹Ã£  «Ã£â€šâ€šÃ§ ¸â€ºÃ£â€šâ€°Ã£â€šÅ'る㠁 ®Ã£  ¯Ã£ â€žÃ£â€šâ€žÃ£   Ã£â‚¬â€š Translation: I dont like to be ruled by anything.

The Underground Railroad By Ann Petry Essay - 988 Words

Harriet Tubman: Conductor on the Underground Railroad was written by Ann Petry. It was published by Thomas Y. Crowell in 1955. The book has 242 pages. This book tells about Harriet s life as a young slave and how she escaped slavery. She led many other slaves to freedom in the North throughout her life. The book starts by focusing on Harriet s parents, Old Rit and Ben Ross. It discusses their life on the Brodas plantation in Maryland. In 1820, Old Rit had a baby, and she named this baby Araminta Ross. However, she planned to call the baby Minta or Minty until she got older. Then, she would be called Harriet. Minta grew up on the Brodas plantation. When she was six years old, she was hired out to Mr. And Mrs. James Cook. Her job there was to watch Mr. Cook s trap lines, which meant she was always out in the cold. Minty got the measles, and was sent back home to the Brodas plantation. After Old Rit helped to get her better, Minta was sent back to the Cooks. This time, though, she was to stay inside and learn to weave. However, Mrs. Cook decided that she was unteachable, and Minta was sent back home. Soon after Minty had returned home, she was hired out again. This time to a woman named Miss Susan. Minta was to be a child s nurse. Here, Miss Susan was very harsh on seven-year-old Minta. Miss Susan beat her whenever she didn t do something exactly right, or when Miss Susan s baby cried during the night. One time, Minty ran away from Miss Susan. However, after a fewShow MoreRelatedNelson Mandela Speeches779 Words   |  4 Pagesstockings, jacket nor trousers†¦Ã¢â‚¬ (Ann Petry). The children often had to freeze in the winter because of the amount of clothing and blankets they were given at the end of each month. Although she didn’t have that great of a life, Harriet Tubman was a spirited child. As Ann Petry states â€Å"There was something free and wild in Harriet...†. This shows that this had help spark the braveness in Harriet Tubman, and dare to help get all the slaves to Canada in the Underground Railroad. When she was helping the slavesRead MoreGarza, Harri et Mandela, And Harriet Tubman And The Heroes Of Justice969 Words   |  4 Pages and Harriet Tubman all experienced these issues first hand and decided to enact change. Alicia Garza started the Black Lives Matter movement to help abolish racial inequality, Harriet Tubman brought hope to other slaves as she started the underground railroad and helped slaves escape, and Nelson Mandela fought against apartheid and for freedom. All three of these individuals helped to enact change by supporting movements that would help eliminate racial inequality, while also supporting freedomRead MoreNelson Mandela, Harriet Tubman, And Patrisse Cullors1500 Words   |  6 PagesNelson Mandela fought for freedom against the apartheid in South Africa, and was a philanthropist who served as President in South Africa. 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If one were to visualizeRead MoreHarriet Tubman And The Underground Railroad1416 Words   |  6 PagesHarriet Tubman did much to ameliorate, and later, abolish slavery. Harriet was a strong and courageous woman and a well-known conductor of the Underground Railroads, around the 1850s. Harriet Tubman personal experiences throughout her life have shaped her to become the stout-hearted woman who helped many slaves escape to freedom, by using the Underground Railroad—a network of secret routes. As described in the novel â€Å"In their own words: Harriet Tubman,† Sullivan introduces varies hard-ships that HarrietRead MoreBiographies And Biographies Of Biographies849 Words   |  4 PagesSlaves and Free Blacks Spied for the Union During the Civil War by Thomas B. Allen. The five best authors of biographies in my opinion are Barry Denenberg, Russell Freedman, Lois Markham, Rosa Parks, and Ann Petry. Ann Petry wrote the book Harriet Tubman: Conductor on the Underground Railroad. Rosa Parks technically wrote an autobiography of herself but what a better person to learn about Rosa Parks then Rosa Parks? She wrote her famous book Rosa Parks: My Story. Lois Markham wrote the book LoisRead MorePersuasive Essay On Harriet Tubman1193 Words   |  5 Pagesslave-owners to become a conductor on the Underground Railroad, a secret system of traveling to slave-owners’ homes and freeing the slaves with the cover of night. The rescued slaves were brought to the North, where slavery was frowned upon. Harriet proves her bravery and resolve in this single sentence, †Rather than remaining in the safety of the North, Tubman made it her mission to rescue her family and others living in slavery via the Underground Railroad† (Biography.com). This puts H arriet’s indomitableRead MoreHarriet Tubm Conductor On The Underground Railroad2006 Words   |  9 Pageswith equal respect and rights. Though she went through her entire life without being able to read or write, she still managed to lead a self-fulfilling life. This woman is Harriet Tubman. In the book, Harriet Tubman: Conductor on the Underground Railroad, Ann Petry goes through her major stages of her life. First, the book starts out sometime in 1821, on the Brodas Plantation in Dorchester County, Maryland where Harriet was born. Ben Ross and Harriet Greene (Old Rit), who were both well respectedRead More Slavery in the American South Essay1809 Words   |  8 Pagesslaves runaway. Such a person for this job was Harriet Tubman.   Ã‚  Ã‚  Ã‚  Ã‚  Harriet Tubman was born into slavery. As she was growing up she learned to walk on the hard packed earth outside the cabin. She normally answered to the name of Minta or Minty (Petry 12). She was a quiet girl but a bright one. Her parents hoped that she would learn a trade when she was young so that she wouldn’t have to work in the fields. 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