MARKETING MIX OF SBT:
began the field project on the 17th of January 2018. We had to wait
for about half an hour to meet the Bank manager. We introduced ourselves, and
had a talk with him for 10 minutes. We asked various questions regarding the
operation of State Bank of Travancore. The bank manager gave us a warm feeling
and answered all our questions with much patience. From his speech we
understood that the marketing mix of SBT is:
the brand/company which covers 7Ps (Product, Price, Place, Promotion, Process,
People, Physical evidence)
the State Bank of Travancore (SBT) marketing strategy
State Bank of Travancore has a pricing strategy based on
competition, RBI guidelines and customer demand. The marketing mix pricing strategy
governs the operations of SBT bank as follows,
services follow the guidelines provided by Reserve Bank of India.
banking sector is highly competitive, SBT competitively prices its services.
policies affect the services offered by SBT.
´ Pricing also depends on the total to which the assets and
liabilities amount to as loan is risky.
SBT is a public-sector bank and aims to
serve the whole of India. SBT also provides its services through mobile banking
and Internet banking. It also has cash deposit stations and a huge network of
State Bank of Travancore (SBT) promotes itself
through various media such as Print media and audio-visual media such as
Radios, Hoardings, Newspaper advertisements, TV-commercials, movies, etc. SBT’s tagline “A long Tradition of
Trust” turns out to be perfectly apt
given tagline suitable for its remarkable trust from the customers.
All the activities of SBT are governed by the RBI.
It must follow its regulations and principles. SBI follows standard formats
like any other bank, because it must abide by the rules of RBI. Even though the
documentation and forms are standardised, the bank has customized approach for
every customer based on the customer needs. Customer involvement is ensured
through ATMs where the employees are not present.
Every Indian is one or other way connected to the
State Bank group. The customers, employees, management and workers,
everyone contributes to the prosperity and growth of the bank. Every worker and
employee add to the profitability of the bank.
SBT has its physical evidence through websites. The
Business cards, paperwork, brochures, furnishings are a source of physical
evidence. Banks provide tangibles such as diaries and pens to employees. The
passbooks, cheque books also are a medium of physical evidence. Furnishings,
financial reports, signage also reduce intangibility of the services.
PRODUCTS AND SERVICES OFFERED BY SBT:
discussing with the bank manager, we moved to the customers and the officers
who oversaw their respective allocated departments. We queried them about the
various products and services offered by SBT. We collected the data given by
´ State Bank of Travancore offers services in
various sectors such as Personal banking, Rural banking, Corporate banking
& International Banking.
´ Rural & Agricultural Banking has many
services such as Kisan Credit Card, Farm Mechanization loan, Poultry Loan, Gold
Loan, Fisheries Loan, Dairy Loan, Micro credit, Pradhan Mantri JanDhan Yojana,
Direct Benefit transport.
´ Personal Banking by SBT includes deposits such as
Savings account, CC account, Salary account, Fixed deposit & Recurring
´ SBT Loans are available such as Gold loans, Car
loans, Education loan, Personal loans, Home loans, etc.
´ SBT gives corporate services such as Corporate
account groups, Mid-corporate account groups, Project finance, etc.
´ International banking of SBT consists of Wholesale
banking, Retail, banking, Global trade service, Correspondent banking and Treasury
´ Other services offered are Aadhaar seeding, ATM
services, Mobile banking, Internet banking, Cash deposit machines, Demat
services, Invest Bonds, etc.
These are the product strategy in the marketing
mix of State Bank of Travancore.
VISIBILITY AND PROFITABILITY OF SBT:
Profitability is a class of financial metrics that are
used to assess a business’s ability to generate earnings as compared to its
expenses and other relevant costs incurred during a specific period.
SBT maintains profitability by increasing margins and fastening
down the stressed assets.
´ Cash management helps to increase the visibility of borrowers’ cash flows and improves
the oversight of the bank’s asset quality.
´ Strengthening its cash management division helps SBT to improve
profitability and lower the bad-loan ratio.
´ Fees on processing transactions and interest income on holding
client’s cash helps SBT in improving its revenues.
´ SBT is pushing large corporate borrowers who are under stress to
make repayments to the bank by tapping equity markets and selling non-core
area in which SBT is comfortable is capital
CUSTOMER AWARENESS TOWARDS THE
PRODUCTS AND SERVICES OFFERED:
survey was conducted among 50 customers of SBT and the responses were
EXPECTED FROM SBT:
of 50 customers, 19 of them said that they expect Quick Response from the SBT
Bank, 18 said they expect Good Customer Relationship and 13 customers said that
they expect Extra Facility for Existing Customers. The below chart shows the
SATISFACTION LEVEL OF CUSTOMERS AFTER AVAILING
of 50 customers, 21 of them were found satisfied after taking loan from the SBT
Bank, 17 were normally satisfied and 12 were dissatisfied because of interest
charged and behaviour of the employees. The below chart shows the response:
CUSTOMER WANTS TO TAKE ANOTHER LOAN FROM SBT:
of 50 customers, 34 would like to take another loan and 16 would not take
another loan from SBT. The below chart shows the response:
THE INFLUENCING FACTOR FOR TAKING LOAN FROM SBT:
of 50 customers, 16 said trust, 13 said advertisement, 11 said easy
availability and rest 20 said friends and relatives about the influencing factor for taking loan
from SBT. The below chart shows the response:
PROCESSING PROCEDURE WHILE AVAILING LOAN:
of 50 customers, 21 said good, 15 people said excellent and rest 14 people said
average about the processing
procedure while availing loan from SBT. The below chart shows the
OF BANK EMPLOYEES IN PROCESSING AND HELPING IN DOCUMENTATION:
of 50 customers, 28 people said good, 10 said excellent and rest 12 people said
average about the co-operation of
bank employees in processing and helping in documentation. The below
chart shows the response:
RATE CHARGED UPON THE LOAN AVAILABLE:
of 50 customers, 25 people said average, 18 said good and rest 7 said excellent
about the interest rate charged upon
the loan available in SBT. The below chart shows the response:
AND FINDINGS FROM THE SURVEY:
SBT is providing good services to the clients during sanctioning the
loan. They cooperate with the clients to give maximum benefits. Through
services in corporate banking and personal banking SBT reaches good number of
customers throughout the country and more than average number of customers were
found satisfied by the services offered by SBT.
´ Customers were satisfied from the quick response
and good customer relationship.
found employees of SBI very helpful and cooperative.
are more influenced for getting loan from SBT because of the trust they have on
found the procedure for availing loan simple and hassle free.
There were some recommendations from
the customers point of view in improving the customer relationship in SBT,
´ Customers preferred a separate section to deal
with the customer queries and other responses.
the bank introduces a product to the customer it should also ensure that he/she
is informed about its value and benefits.