★ Banking is a service based
industry which provides services in order to satisfy the customers' financial
needs and wants, primarily.
★ Identification of financial need
and providing appropriate quality services is a competitive edge to the bank.
★ In this activity, the service
include identification of need, fulfillment of desire, satisfaction, relationship
with customer, building a trust worthiness between bank and customer and moreover
achieving the objectives of bank is the primary job of a bank employee.
★ Performance of bank and employee
will be affected by the services rendered to the customers. So, he/ she needs
minimum marketing skills in order to do a service oriented job in a bank.
★ Though the western countries
applied marketing concepts in banking in early 60s but in India it started in
70s.
★ SBI has adopted a marketing
concept called market segmentation. It has classified the market into different
segments like commercial and institutional, small industries and small
business, agriculture and personal. It is having a district functional development
department with primary
function as marketing.
★ In 21st century, with the entry of
private sector banks in India customer oriented marketing concept was
introduced.
★ Marketing knowledge will help the
employees in understanding the banking services in a better way. Marketing
aptitude main motive is to understand the marketing concepts which makes job
easier to new employees.
