JAIIB Paper 4 (RBWM) Module C Unit 1: Marketing: An Introduction (New Syllabus)
The Institute of Indian Banking and Finance (IIBF) has recently announced the new syllabus and exam pattern for the JAIIB Exam 2023. Similar to the current format, JAIIB 2023 will consist of four papers. One of the important topics covered in Paper 4 (Retail Banking and Wealth Management) is “Marketing: An Introduction,” which is a crucial unit that every candidate must grasp thoroughly.
To ensure that aspirants have a better understanding of the topic, we will provide all the necessary details related to Unit 1: Marketing: An Introduction of JAIIB Paper 4 (RBWM) Module C Support Services – Marketing of Banking Services/ Products. We strongly recommend that candidates refer to this article and utilize our Online Mock Test Series to enhance their knowledge of Marketing: An Introduction.
It is imperative for JAIIB Certification Examination 2023 candidates to comprehend each unit included in the syllabus, particularly the Marketing unit, which plays a significant role in the banking industry. Hence, candidates must prepare well to excel in the exam and build a successful career in the banking sector.
Marketing in Banking
- Sir Frederick Seebohmn define ‘the creation and delivery of customer – satisfying services at a profit to the bank’
- Kenneth Andrew defines Bank Marketing as ‘the matching of bank’s resources with the customer’s needs in the most profitable manner’.
Customer is the centre of attraction in retail banking and marketing and all the activities have to be focussed towards
- Identifying the customers’ needs,
- Developing appropriate products to satisfy their needs,
- Providing them with efficient delivery channels for availing the products.
- Making them avail the products continuously.
Marketing in Retail Banking
The process of marketing comprises different stage:
- Marketing Analysis
- Marketing Planning
- Marketing Implementation
- Marketing Control
Marketing Mix in Retail Banking
Fundamental ingredients of an effective marketing mix in retail banking which are as follows:
- Physical evidence
The success of the seven Ps and the marketing strategies are measured only by the responses from the customers from the point of view of need satisfaction.
JAIIB Paper 4 Module C Unit 1 Marketing An Introduction (Ambitious Baba) PDF
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