Marketing in Retail Banking: CAIIB Retail banking (Module C),Unit 1

Marketing in Retail Banking: CAIIB Retail banking (Module C),Unit 1

Dear Bankers,
We all know that CAIIB exams are conducted by the Indian Institute of Banking and Finance (IIBF).  CAIIB is said to be one of the difficult courses to be cleared for the bankers. But we assure you that with the help of our “CAIIB study material”, you will definitely clear the CAIIB exam.
CAIIB exams are conducted twice in a year. Candidates should have completed JAIIB before appearing for CAIIB Exam. Here, we will provide detailed notes of every unit of the CAIIB Exam on the latest pattern of IIBF.
So, here we are providing “Unit 1: Marketing in Retail Banking of “Module C: Marketing in Retail Banking” from “Optional Paper: Retail Banking”.

The Article is CAIIB Unit 1: Marketing in Retail Banking

♦ 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:

  • Product
  • Price
  • Promotion
  • Place
  • People
  • Process
  • 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.

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