Marketing Strategy of TBSB Bank

1

INTRODUCTION

2

Thane Bharat Sahakari BankIntroduction

Company Profile "The Thane Bharat Sahakari Bank Ltd" is a leading Bank in Thane District.

The Bank has grown with the growing industrialization in the city of Thane. 

In the early seventies, there were only 2 Banks in Thane city. However for the growing needs of the city, these Banks were not sufficient. Therefore, Dr. V N Bedekar, M Y Gokhale and many of like-minded senior social workers came up with the idea of having one more Bank in the City.

Accordingly, Bank was registered with District Co-Operative register on 25th September 1978. Consequently, the first General Body meeting was held on 20th October 1978 and the first Board of Directors was elected therein. Dr V N Bedekar was elected as the Chairman and Shri M Y Gokhale as the Vice Chairman.

And RBI License was obtained on 19th April 1979. Within just 10 days, on the day of Akshay trutiya, the Bank was inaugurated at the hands of noted Economist Dr V M Dandekar. The Bank had spacious premises at "Shatataraka" in Vishnu Nagar area. Initially the Bank was named as "Bharat Sahakari Bank Ltd., Thane". 

During the routine operations of the Bank, the Bank saw good growth and the decision of computerizing the operations was taken. The Bank also installed ATMs. However as the Bank was growing, it was observed that there used to be few confusions in the people‘s mind because of the similarity in names between Bharat Co-op Bank and Bharat Sahakari Bank. Then it was decided that our Bank be renamed as "The Thane Bharat Sahakari Bank Ltd". This was done on 29th November 2000. 

3

On 8th March 2003, The Reserve Bank of India conferred the "Scheduled Bank" status to the Bank. 

The Bank is awarded with many awards. In 2003-04, the Bank celebrated the Silver Jubilee Year. The Bank is constantly participating in many social events in the City of Thane and also sponsoring many of them. 

The Bank is operating for all 7 days of the week and is at the service of its Shareholders, Depositors and Account Holders.

4

Board of Directors

Madhav Yashwant GokhaleChairman

Uttam Bhaskar JoshiVice Chairman

   

Dr Ravindra R RandiveDirector

Chandrashekhar P ParanjapeDirector

Milind Madhav GokhaleDirector

     

Hemant Waman MahajanDirector

Dr Rajeshwar Maroti MoghekarDirector

Kiran Vasudeo VaidyaDirector

     

Mrs Manisha Madhav Natu Director 

Sanjay Gopinath PatilDirector

Sitaram Ananda GosaviDirector

     

5

Dr. Lalita Sharad Deodhar Director

Suhas Laxman KarandikarAdvisor To Board Shekhar Atmaram Desai

Chief Executive Office     

6

Performance       

The Performance of the Bank for last 5 Years:Particular 31.03.2011 31.03.2012 31.03.2013 31.03.2014 31.03.2015           Capital 1898.09 2292.98 2,692.22 2,966.70 3172.57Reserve 1041.96 1205.78 1,429.30 1,568.01 1725.3Other Reserve

1387.78 1585.77 2,017.37 2,208.49 2444.5

Own Funds

4,677.80 5790.64 6,453.89 6,534.36 7121.49

Deposit 72996.7 75746.24 89,385.70 93,879.62 104194.98Investment 33,488.68 34103.34 35,756.50 41,703.43 42074.83Loan 46346.85 52441.94 57,159.68 60,575.95 69802.99Working Capital

87771.79 93912.92 101,287.02 111,512.20 123217.77

Profit 605.32 832.99 516.52 557.99 610.19

 

Loans and Advances

7

Own Funds and Other Funds

Mixed Business

8

7 P’s in Banking Industry

The service marketing mix of Thane Bharat Sahakari Bank Ltd. discusses the 7P’s of Thane Bharat Sahakari Bank Ltd. and how the bank is using an effective marketing mix to increase its customer base and rise in the banking industry.

PRODUCTThe main products of Thane Bharat Sahakari Bank Ltd. are Saving Account, Current Account and Demat Account. The other products are Home loan, personal loan, Insurance, Credit cards, etc.

9

For better marketing of products, the products are categorized under and Thane Bharat Sahakari Bank Ltd. Products under Thane Bharat Sahakari Bank Ltd. are

Saving Account Current Account Salary Accounts

Products under Thane Bharat Sahakari Bank Ltd. Sales are Home loan Personal loan, Demat Account

PRICEThe price of the product depends upon the services provided by the Bank on the respective product to the customers. Detailed pricing changes from time to time and the same can be found on the website of Thane Bharat Sahakari Bank Ltd. 

PLACEPlace plays an important role in tangibilizing service offerings. Quality of service is perceived by many customers in the form of place of delivery- locational appeal, interiors, ambience, etc. If a bank is located in a crowded market the place or location will be a negative tangibilizes. Providing excellent tangibles in the form of place or location and interiors is particularly important for appealing to the customers segment.  

PROMOTIONPromotion can tangibilize services in different forms:

Print Media Association Physical representation Documentation.

10

PEOPLEPeople are a common factor in every service. And people tangibilize services. Good  people (means good performance) make good or successful services. Bad performers deliver bad services.

PROCESS Customer defined business process- Process innovations and continuous

improvement through people involvement. Result oriented approach- Each process has been designed by first planning the

desired results. Thane Bharat Sahakari Bank Ltd. is constantly taking initiatives to offer the

best in class service that seek to enhance customer experience.

Objective:

Determining in a rational, informed, and strategic manner the desired customer base .

Identifying the current and future needs of desired customer and customer prospect segments.

Creating need-satisfying benefits that respond appropriately and profitably to customer needs and which positively differentiate the organization from its competitors

11

Communicating and delivering these benefits effectively and efficiently to the market place

To generate more leads and create more awareness about the bank. Expansion of bank Converting the employees of the organization into a well-informed,

disciplined, and professional force committed to the organization's values and objectives.

Competitors:

Main Co-operative banks in competition :Thane Janta Sahakari Bank Ltd.G.P.Parsik Bank.Abhyudaya Co-opeatative Bank.Shyamrao Vittal Co-operative BankAll the leading Banks of public and private sectorNKGSB Co-operative Bank Ltd.

12

Top Performing Public Sector Banks1. State Bank of India

2. Andhra Bank

3. Allahabad Bank

4. Punjab National Bank

5. Dena Bank

Top Performing Private Sector Banks

1. HDFC Bank

2. ICICI Bank

3. AXIS Bank

4. Kotak Mahindra Bank

5. Centurion Bank of Punjab

Top Performing Foreign Banks1. Citi bank 2. Standard Chartered 3. HSBC Bank

GAP Analysis

13

GAP Analysis

14

Customer Expectations

Customer Satisfaction

Internet Banking

More Awareness of bank via different medias

Mobile Application for easy access

Various Insurance Policies

Accessibility of debit and credit card at any ATM

Good returns on Fixed Deposits

Easy account opening at bank

15

SWOT Analysis of Thane Bharat Sahakari Bank Ltd :

16

10% Interest Rate on FD

Lacks in technology

Old strategies Less young staff

Competitors and new entrants

Increasing

Expansion Net Banking Application of

bank

Strength Weaknesses

ThreatsOpportunities

QUALITY POLICY

SECURITY:

The bank provides long term financial security to their policy. The bank does this by offering life insurance and pension products.

TRUST:

The bank appreciates the trust placed by their policy holders in the bank. Hence, it will aim to manage their investments very carefully and live up to this trust.

INTEGRITY:

Bank always maintains one kind of integrity with the customers, clients, the system which they have.

CUSTOMER CENTRIC :

In today’s world everyone has to maintain customer centric approach to survive in the market. Thane Bharat Sahakari Bank also have the customer centric approach in most of services.

TEAM WORK :

Team work always helps in succeeding the targets in given period of time. So bank also believes in team for every department.

JOY AND SIMPLICITY :This a part of life as well as job which helps to a human to get self motivation.

17

Participation in Advertising Activities on Marathi New year

Expansion of Bank :

Thane Bharat Sahakari Bank Ltd is expanding their business slowly as they are first focusing on their existing customers and then they are tapping new markets.Till now they have overall 24 Branches.

They have maximum focus on Thane so they have captured whole areas of thane.

Marketing strategy : Thane Bharat Sahakari Bank is using traditional method of marketing. They are only focusing on print media marketing and mobile banking.

18

Branch NetworkMain Branch“Satatarka”, Baji Prabhu Deshpande Marg, Vishnu Nagar, Naupada, Thane (West) : 400602Tel : 25429432 / 25433429 / 25442096

ATM / CDM / SMS /

Lockers / Franking

Thane East Branch“Nav Aashirvad”, Near Daulat Nagar, Harishchandra Raut Marg, Thane (East) : 400603Tel : 2532 3951 / 2532 2608 / 2532 2374

ATM / CDM / SMS /

Lockers

Pokhran BranchWestern India Steel Industries Compound, Opp. Oswal Park, Pokhran Road No. 2, Thane (West) : 400601Tel :21736262 / 21736263 / 21736261

ATM / SMS / Lockers

Chandanwadi Branch“Mahesh Darshan”, Near Makhmali Talao, Old Mumbai-Agra Road, Thane (West) : 400602Tel : 25335237 / 25426078 / 25333702

ATM / CDM / SMS /

Lockers

Chendani Koliwada BranchKashiratna Bhavan, Dutta mandir Road, Near Cidco Bus Stop, Thane (West) : 400601Tel : 25442361 / 25442362 / 25433428

ATM / SMS / Lockers

Shreenagar BranchShreenagr Commercial Complex, Ground floor, Wagle Estate, Thane (West) : 400604Tel : 25827955 / 25827963 / 25813281

ATM / SMS

Shivai Nagar BranchPlot No. 78, Near Shivai Nagar Bus Stop, Shivai Nagar, Pokhran Road No. 1, Thane (West) : 400606Tel : 25854161 / 25889262 / 25854122

ATM / SMS / Lockers

Kalyan BranchJeevashri Apartment, Jamanabaug Compund, Shivaji Chowk, Agra Road, Kalyan (West) : 421301Tel : 2305594 / 65741156 / 8652277758 / 2305922

ATM / SMS / Lockers 

Mulund BranchKeshav Bhavan, M. G. Road, Near Railway Station, Mulund (West) : 400080Tel : 25932755 / 25655960 / 25640614

ATM / SMS / Lockers 

Ghatkopar East BranchSaffire Arcade, Behind Sonal-Sejal Jewellers, M. G. Road,

ATM / SMS / Lockers 

19

Rajawadi, Ghatkoapr (East) : 400077Tel : 21021565 / 21024649 / 21022887Rutu Park Branch�Parijat� Rutu Park, Majiwada, Near Vrindawan Society Bus Stop, Thane (West) : 400601Tel : 25440860 / 8652277762 / 25442363

ATM / SMS

Ghatkopar West BranchHindi High-school, Zunzunwala College Campus, Shree Laxmi Narayan Path, Ghatkopar (West) : 400086Tel : 25120435 / 25120435

SMS / Lockers

Airoli Exn. CounterMazidun Highschool Premises, Ground Floor, Sector 8A, Airoli, Navi Mumbai : 400708Tel : 6520766 / 27690206

ATM / SMS

Ghodbunder BranchShop No. 1, Shiddeshwar Arcade, Opp. Suraj Water Park, Thane (West) : Tel : 25972737 / 25972720 / 25972565

ATM / SMS

Lokmanynagar BranchGround Floor, Shop No, 1to 4 Pachpakhadi Surbhi Co-operative HSC., Opp. R. J. Thakur Vidhalay, N.S. Road, Savarkarnagr Thane (West) : 400606Tel : 25810835 / 25810837

ATM / SMS

Dombivali BranchLikhite House, Maulana Azad Road, Subhash Nagar, Dombivali (East) : 421201Tel : 2439973 / 8652277767 / 2439974

ATM / CDM / SMS /

Lockers

Bhandup BranchG-3, Corpora, LBS Marg, Bhandup (West) : 400078Tel : 25958301 / 25958310

ATM / CDM / SMS

Dadar BranchJeevan Apartment, Baburao Parulekar Marg, - Dadar (West) : 400028Tel : 24308252 / 24309062

ATM / CDM / SMS /

Lockers

Kalwa Branch"Amrut Dham Co-Operative Housing Society", Manisha Nagar, Gate No.3, Kalwa (West) ,Dist. ThaneTel : 25441388 / 25441386

ATM / CDM / SMS /

Lockers

20

Panvel Branch"Shree Basav Nilaya", Plot No. 152, Line Ali, Opp. Swami Hotel. Property no. 1463/1B, Panvel : 410206Tel : 27452206 / 27452207

ATM / CDM / SMS /

Lockers

Badlapur West Branch Kadaamb, Sarvodaya Nagar, Badlapur-West – 421503 Tel :- 2674477 / 2674478

 ATM / SMS / Lockers

Sadashiv Peth, Pune Branch Saadhya 1503 & 1504, Sadashiv Peth, Tilak Road, Pune :- 411030 Tel : 24475857

 ATM / SMS / Lockers

Pen Branch Rameshwar Vaibhav, CTS No. 1574, Pen-Khopoli Road, Dist. Raigad - 402 107Tel :

 ATM / SMS

Shahpur Branch Deep-Moti, Old Agra Road, Shahpur, Dist. Thane - 421601Tel :

 ATM / SMS

Hence these are the current existing branches at different places.

21

Interest Rate of Loan :LoansHousing loan 12% (Upto 25 lac) 13% (Above 25 lac)Education Loan 12%Vehicle Loan 11%(new) 13.50(old)

Personal loan 14% (sec 49) 15%(without sec 49)Business loan 12.5% to15.5%(cash

credit)12.5% to 15.5%(business loan/loan of vehicle for

22

commercial)Mortgage loan 14.50%(house repairs

upto 2 lacs)Gold Loan /overdraft 12.5% to 13.50%Builders and developers

15% to 17%

Secured loans 13%(KVP,LIC)Lease Rent Discounting

12.5% to 13%

Others 15.50%

These are the current interest rates of Thane Bharat Sahakari Bank. Where general people have different rates as compared to senior citizens and

single deposits. Bank have different kinds of schemes for loan as mentioned in the above

image. As per need customer can select the loan schemes and they can proceed with

it. With loan bank also provides many services to help the customer in the

process.

23

Hence these are the loan schemes of bank.

24

This scheme is for Children. Age limit and services are mentioned in the above image. It will help to the young generation also to save their money to get the habit

of saving. It will be benefited for them.

Covered area for total visits :

Badlapur – 19 visits Bhandup- 30 visits

25

Panvel- 32 visits Mulund- 10 visits Airoli- 8 visits

My Role at Thane Bharat Sahakari Bank Ltd :

26

I was working at Thane Bharat Sahakari Bank as Management Trainee.

Where I had to go for visits at : Chartered Accountants Advocates Architectures Credit Societies Hospitals Colleges Schools Beauty salons Tuition Classes

I used to go at customers place by taking their appointments or at some places we directly approached to them.

I used to give presentations regarding banking services and introduction to them.

Then I had asked them these several question to identify the awareness about bank for my study report.

Then I have given them the pamphlets of banking schemes and used to take their card for reference .

I had to give the presentations to those customers.

Then I had to report to my marketing head Mrs. Anuja Patankar Mam, of every week of a particular place.

My Marketing head was really helpful and supportive who always motivate me and appreciate me for my work.

27

She always guide us before our new visit.

28

Results and Findings

Suggestions :

29

Thane Bharat Sahakari Bank have a traditional approach towards the market and customers.

When I joined the marketing department I saw the whole process of their marketing which was unorganized as they didn’t have young employees as well as they are also lacking in technology like online banking and all.

So I have suggested them which they had also implemented in our internship only that we should go with segment, target market.

30

RESEARCH METHODOLOGY

Research Methodology Research

31

The systematic investigation of a situation or problem in order to generate new knowledge or validate existing knowledge.

Research is a common parlance refers to a search for knowledge. One can also define research as a scientific and systematic search for correct information on a specific topic. In fact, research is an art of scientific investigation.

Methodology

In planning and designing a specific research project, it is necessary to anticipate all the steps that must be undertaken if the project is to be successful in collecting valid and reliable information.

PRIMARY DATA

Primary data was collected by filling questionnaires from respondents through an one to one survey method. The respondents were from different age groups above 18 years and who are earning.

SECONDARY DATA

Secondary data is the data that have been already collected by and readily available from other sources. Such data are cheaper and more quickly obtainable than the primary data and also may be available when primary data can’t be obtained at all. This data can sometimes save time and helps while conducting surveys.

For this project the secondary data was collected regarding various sources .

POPULATION

The population for this research was individuals who are earning, service users.

32

SAMPLE SIZEThe sample size for this research project was 100.

METHOD OF DATA COLLECTION

One to one interview were used to take feedback to collect primary data.

Questionnaire

Name - _____________________________________

Occupation-__________________________________

33

Contact Detail -_______________________________

Sex: 1) Male 2) Female

Age: a) Less than 30 Yrs

b) 31-40 Yrs

c) 41-50 Yrs

d) 51-60 Yrs e) Above 60 Yrs Q.1 Do you have any bank account?(Single ans)

a) Yesb) No

Q.2 Tell me any 5 names of bank ?( Multiple ans)a) ___________________________________b) ___________________________________c) ___________________________________d) ___________________________________e) ___________________________________

Q.3 Out of the above banks which you would like to prefer for your use in future?(Multiple ans)

a) ___________________________________b) ___________________________________c) ___________________________________

Q.4 According to you how bank services are helpful for you ? (Multiple ans)

34

a) Loansb) Fixed depositc) Savings d) Mutual fundse) Government schemes

Q.5 Total Annual Income: a) Below 1 Lakh

b) 1-3 Lakhs c) 3-5 Lakhs

d)Above5Lakhs

Q.6 For how long do you have your bank account? a) Less than 5 Years b) 6-10 Years c) 11-15 Yrs d) 16-20 Yrs e) More than 20 Yrs.

Q.7 Whom do you approach to know about banking services? a) Friends b) Relatives c) Colleagues d) Neighbours e) Banker

35

DATA PROCESSING AND ANALYSIS

36

56%

16%

13%

11%

4%

Data of Survey

Total number of visits who have bank accountsExisting Customers of Thane Bharat Sahakari BankName of bank which is top of the mindAwarness of services provided by thane bharat sahakari banktotal number of customers who opened their account after visit

37

Data Of Total Visits

Thane Mulund Badlapur Bhandup Panvel Airoli0

5

10

15

20

25

30

35

Visits

The above graph helps to understand that where I have visited to approach the customers to create awareness and to sell the accounts.

This visits helps to determine that how many people are aware about the Thane Bharat Sahakari Bank.

Total visits including existing and non existing customers also. General questions asked by me to to recognize their opinion.

38

Learning Gains

Learning Recognize problems

39

When working you need to always be aware of the future problems or

possibilities. Find the exact problems the reasons for it and have an

appropriate plan for resolving it.

Learnt to Bring out innovative and creative ideas.

Performing the task given would be more effective if you use a innovative

way of doing it, which will differentiate you from other members.

Ownership (Feeling of responsibility)

Always take the ownership to the work allotted to you with responsibility.

This helps you get more work and a sense of trust is generated between

you team members and also your seniors.

Be flexible and adjust to the organizations culture.

When you join an organization you need to analyze the work culture there

and accordingly get adjusted to it to avoid unnecessary problems and

issues. This helps you grow and work efficiently in the organization. You

should be flexible enough to get involved in any type of work and project

plans. You need to have alternative plans ready in case you get stuck on

some issues.

Have realistic goals/targets.

Market research requires data collection. This is done by giving targets to

the researchers. You need to have realistic and achievable targets.

Unnecessary targets which cannot be fulfilled may have stress, inefficiency,

fear of losing job and having unreliable data.

40

Conflict-Resolution Abilities.

When you work in a team conflicts, misunderstandings are definitely going

to occur. You need to have these abilities so that they do not affect the

process of achieving your objective. Some time you have to be a bridge

between the client and the company. You should have the abilities to spot

the problems as they begin and resolve them there itself so that they do

not grow.

Admit mistakes.

When working making mistakes is obvious, but you should admit your

mistakes. So that further complications can be avoided.

Database Maintaining.

Back office operations and database management are vital to any

organization as well as employees.

Choose appropriate people.

Hiring people who are insanely passionate about the organization’s product

helps deliver the best. Since the employees treat the organization’s product

is treated as their own.

Networking.

When working in a organization like Thane Bharat Sahakari Bank Ltd,

which is a running on small scale basis, having good contacts helps you so

that you can gather as much information as possible without any problems.

So having good networking and contacts helps you.

One to one communication

Regular meetings and conversation with the team members individually

and in groups is the most important factor so that the project goes as

41

planned and becomes easy to achieve targets. Just delegating targets is not

sufficient you also need to track the work being a team leader. Help the

team members to achieve their targets.

Feedback is important.

When you complete a task feedback may it be positive or negative helps

you understand your mistakes and work on it. Giving feedback is also

important as you may get more knowledge or your concepts can be clear.

42

Challenges which I have faced in the Internship :

More Travelling

Unknown Areas far from the main city

Different People of different mindset who refuses to give the appointment

Pressure from Authorities to complete the targets.

Waited for the customers more than Hour.

On time Rejections on Phone for the appointments from customers.

Some customers had no more time to give the whole interview.

43

CONCLUSION

44

Conclusion

From the analysis part it can be conclude that customers have below average awareness

towards Thane Bharat Sahakari Bank Ltd.The bank has limited customer base, so the

bank should concentrate on this to retain these customers.

Indian banking industry is very competitive, and customers are conservative but rising in

income and urbanization are helping to customer to think beyond the price side of products

and moving towards services. So to attract customers bank should take care more about its

services.

Bank should be focus on :

Launch Innovative product

Customized advance products

Better customer services

Fastest customers problem solving techniques

Customer retention

Use of Technology

Apart from all the above, Thane Bharat Sahakari Bank Ltd. believe in providing good

customer services to their customers which is a key factor for success in future.

45

Bibliography

46

Bibliography

My own contacts

Information from Bank Colleagues and staff

Marketing Management-13th edition

http://www.thanebharatbank.com/main/index.php

http://www.channelworld.in/case-study/making-right-choice

www.wikipedia.com

47