Essence of marketing By: Chaitanya Bansal

Jagjyot Singh ChadhaShaswati SenPoulomi Sen

FMCS

IntroductionICICI (Industrial credit investment corporation

of India) was formed in 1955 at the initiative of the World Bank, the government of India and representatives of Indian industry. ICICI bank was originally promoted in 1994 by ICICI limited, an Indian financial institution and was its wholly owned subsidiary.

Profits: USD 715 mln (prev. USD 569 mn) Assets: USD 79 bn (prev. USD 56.3 bn) Employees: over 33,000 (prev. 25,384)

value

Self image

availability

Guarantee

Service

Distribution

Advertising

price

product

Service

Risk averseness

Functional The Essence of Marketing

Target market Geographic: Most of the customers belong to Section (A) cities and urban areas of (B) cities.

Demographic: Their target customers are mostly of Fullnest(I), Fullnest(II), and DINK.

Psychographic: their services are generally target towards

FULLFILLERS (principle oriented)mature/satisfied/comfortable/reflectiveFavour functionality /durability/value in

products. EXPERIENCERS: (action oriented):Young/enthusiastic/impulsive/rebellious. Techno savvy: High Techno Savvy and Medium techno savvy.

This what the customers wants

Functional WantQuick and 24 hrs service.Wide spread ATMs.Quick money transfer. Easy availability of loan.

ICICI Bank offers a wide range of banking products and financial services to corporate and retail customers through a variety of delivery channels and through its specialized subsidiaries and affiliates in the areas of investment banking, life and non-life insurance, venture capital and asset management.

Product

ValueValue = Quality/PriceCustomer seeks high CDV from the banks in the form of

efficient and superior services. They seek speed transfer, instant transfer of funds, quick remittance of card, direct credits, quick issue of credit/debit cards and also sometimes the e-transfer facility and core banking.

The widespread availability of ATMs at the core locations of the city also act as an advantage.

ICICI banks carters to these demands of the customers by providing them the following :-

Multiple payment/ delivery options.ICICI Bank recognize the need for customer to have money

while shopping so it banked on the opportunity and introduced the Debit Cards of which now it is the market leader.

Self ImageTime Conscious. Stylish. Status oriented.Ambitious. Dreamers(who want to achieve everything in

short time).

AdvertisementICICI has spent Rs 185 crore in 2006/07 on

advertising and even roped in Amitabh Bachchan as brand ambassador and latest being Shahrukh Khan to come close to its customers.

The Cheques presented to winners in the first 2 versions of the famous game show - Kaun Banega crorepati were ICICI Bank cheques.

Coupons system at bank counters, mobile alerts, better customer service build up differential advantage for ICICI bank.

AvailiabilityWide spread ATMs More no. of Branches across many cities.

DistributionJuly 2007 ICICI BANK

Branches 950ATMs 3600Cities 371(2006)

Credit Cards(Mn)

5.1(2006)

Retail customers(Mn)

24

HDFC BANK

583(667)

1471(2681)2632.75

6.4(13.7)

Service

Thank you