Introduction

Marketing is an integral part of every organization globally. No matter what position you are employed, you have to paarticipate in marketing activities of the organization. Same goes with the Bank also. Banking Industry without doing Marketing is next to impossible because of the cut thoat competitions among various Indian and global Banks. Nowadays every Bank checks out your Marketing Knowledge before providing you any kind of Job. This setion covers mostly about the Bnaking Marketing strategies in India which will be usefull to pass in the SBI and IBPS Bank PO and Clerical Jobs Exams.

Team - Laqshya ..

What you will learn

Marketing is very important and to score high in Bank PO and Clerical Exams of SBI and IBPS, you should have proper knowledge about Bank Marketing. In this section you get to learn :

• Marketing Concepts for Bank
• Improve your Bank Marketing Knowledge
• Score high in Bank Marketing aptitude tests
• Became an exeprt in limited time

1.       Psychology & Bank Marketing

 

Banks have a great role to play in the development of nation and  improvement in an individual s life. In order to play this role effectively, the banker should have fair knowledge of the socio-psychological aspects of the society he is serving.

               

                9.1 Human Groups and Institutions

 

First of all, the banker should be aware of the Human Groups and Institutionsin the area of operation. This means that one should be aware of the role of industries, technologies, agriculture in the rural economy, cultural aspects of the society, community aspects, family and farm patterns, institutional facilities, etc.

 

                9.2 Process of Change

 

Secondly, the Process of Change, if any, taking place in the industry scenario, should be known to him.

The general changes that take place in the changing economical scenario include urbanization, industrialization, migration, social mobility, changes in values, farm structure, etc.

 

                9.3 Planned Changes

 

Thirdly, there could be Planned Changes, generally emanating from administration of voluntary organizations, such as resettlement, land reforms, community development, agricultural extension work, industriual, education etc, of which the field staff should be familiar.

 

                9.4 Development Plans

 

Fourthly, a general idea of the status of various development projects under execution, welfare measures, schemes under implementation, etc. will help the banker to have a complete picture of the society in which he is operating. The knowledge on all these aspects of the  society will help the banker in choosing the right approach to the clients in variable areas since education of the people on the services offered is an integral part of effective marketing. The psychology of the people should be properly understood. It is only normal that the people in our society do not adopt a practice immediately. Subsequently, on being properly educated, he may develop interest and would like to know more about. If the information imparted convinces him that the idea is something useful, he enters the t third stage of thinking about the possibility of accepting the idea for his benefit. Thus, there are different stages in the adoption processof the prospective customer, which should be clearly understood by the field personnel.

 

Modifying the services to suit the dynamic environment is considered as the backbone of marketing efforts. However, while designing or modifying, it should be ensured that the products are not inconsistent with basic attitudes and cultural values of the people. Rapidity of acceptance of innovations is a function of many factors, including the nature of innovation and its relationship to existing cultural patterns.

 

Banking institutions are vehicles of economic development. Psychology, as a science of human behavior emphasizes the influence of human factors which accelerate or impede the rapid acceptance of innovative ideas. Marketing efforts in the rural areas should be designed with proper emphasis on these influential factors.

 

 

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