AN ANALYTICAL STUDY OF MARKETING OF BANKING SERVICES OF SBI AND HDFC BANK IN BORIVALI SUBURB, MUMBAI
Journal Title: International Journal of Marketing and Technology - Year 2011, Vol 1, Issue 4
Abstract
In banking, marketing and quality of customer service holds primary significance to sustain the business growth. An appropriate marketing strategy or promotion mix can be used not only for marketing and to attract customers, but also to hold them by creating brand loyalty and trust. It may be in different or various ways like a advertisement, a sales campaign, melas and fairs ,word of mouth, personal interaction, direct mailing to customers etc. The main aim or goal of marketing is to persuade the customer to buy its products in preference to other similar products available in the market. Earlier banking was concerned only with traditional services and activities. But at present banking is catering entire requirement of individual customer and is emerging as potential sector for the consistent growth of business and commercial industries. Customer relation and retention is priority of the banks. In the present study, an attempt is made to study the quality of service provided by the SBI and HDFC bank. The main aim of this research paper is to assess and re-asses how banks are marketing their products and services and how customers capture and perceive bank services, what are the emerging customers requirements and expectations, and to study customer satisfaction level with banking services provided by the SBI and HDFC Bank. The researcher has taken a sample of 340 respondents from SBI and HDFC Bank in Borivali region and has conducted responses about marketing strategies of these banks through questionnaire method. The data so collected have been tabulated and analyzed to arrive at conclusion on the above topic. The research concluded that SBI provides better services to their customers than HDFC Bank. The customers of SBI are more satisfied with traditional banking services and Bank Accounts as compared to HDFC Bank whereas customers of HDFC Bank are more satisfied with innovative technology based counter services, ancillary services, single window services provided by the bank.
Authors and Affiliations
Dr. M. N. Sondge and Prof. T. B. Gadhave
Keywords
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