Cross-Selling : Trend Setter of Modern Banking
Journal Title: JOURNAL OF COMMERCE AND TRADE - Year 2008, Vol 3, Issue 2
Abstract
This paper is a study of cross-selling practices in Indian banking industry through the case study method. This study focuses on the prediction of cross-selling opportunities and attempts to answer the questions of who is likely to buy additional products from the same company, what the next product is likely to be and when the purchase is likely to be made?. The banking industry regularly mounts campaigns to improve customer value by offering new products to existing customers. This approach gained momentum as a result of the increasing availability of customer data and improved analysis capabilities through data mining. The cross-selling practices in Indian banking sector are quite different. These differences emerge mainly from their different philosophy, background and distinct target customer segments. However, both sectors can learn from each other; public sector banks can introduce specialized training and incentives, whereas private sector banks need to introduce appropriate control mechanisms and avoid indiscriminate cross-selling. The study mainly focuses on state bank of India (SBI), the premier bank in the Indian banking sector. There are many ways to increase a company volume of business and revenues, but not all involve increasing the customer portfolio and market share. In most cases, companies ignore the advantage of increasing the value of their current customer base by using cross-selling techniques. Cross-selling allows the company to after products or service in addition to those already used by its customers, increasing their value for the company and, at the same time, generating greater value for them.
Authors and Affiliations
Mohd. Arshad Khan
Keywords
Related Articles
- EP ID EP251800
- DOI -
- Views 82
- Downloads 0
Current Position of India’s Foreign Trade with China (The Changes Taking Place)
We analyze causality relationships between industry and foreign trade in two major areas of the world economy: India, China for the period 2002-07, and found that the effect of imports is usually positive and significant...
Social Media Marketing : Opportunities and Challenges
Consumer is the basic foundation of every business. What consumer seeks, thinks, prefers and buys is of great importance to marketers to know and study the buying behavior of people. Every person has their own taste and...
Performance Improvement through Implementation of Lean Maintenance
Lean Maintenance is a relatively new term, invented in the last decade of the twentieth century, but the principles are well established in Total Productive Maintenance (TPM). Lean Maintenance—taking its lead from Lean M...
Effect of Country of Origin on Brand Perception of Indian Consumer : A Study on Selected Electronics Products
In recent years, all the international and global companies from all over the world with any origin try to capture market share in other countries. Marketers have to consider the impact of country of origin in society to...
Recommendations of PM Task Force on Credit to MSEs: A Critical Analysis
The MSEs constitute over 90% of total enterprises in most of the economies and are credited with generating the highest rates of employment growth and account for a major share of industrial production and exports. In In...