Term Paper of Srvice(Axix Bank)

TERM PAPER OF SERVICE MARKETING

TOPIC: AXIS BANK

SUBMITTED TO:

MR. PUNEET BAWA SIR

SUBMITTED BY:

MANINDER PAL SIGNH

MBA-IV SEM

ROLL NO: RS1802B47

LOVELY PROFESSIONAL UNIVERSITY

TABLE OF CONTENTS

SR.NO PARTICULARS

1 EXECUTIVE SUMMARY

2 SERVICE MARKETING ENVIRONMENT

3 PROFILE OF AXIS BANK

4 MARKETING MIX

5 MARKETING SEGMENTATION

6 CUSTOMER REQUIREMENTS AND EXPECTATIONS

7 QUALITY CONCERNS

8 INTEGRATED GAP MODEL

9 SERVICE BLUEPRINT

10 SERVICE RECOVERY STAGES

11 POSITIONING MAP

12 SERVICESCAPE

13 CUSTOMER AND EMPLOYEES ROLE IN SERVICE DELIVERY

14 MARKETING COMMUNICATION SYSTEM

15 SERVICE INTERMEDIARIES

16 MANAGING WAITING LINES

17 BIBLIOGRAPHY

EXECUTIVE SUMMARY

The Axis bank has extended collaboration without borders to the next level. It has adopted an

enterprise wide IT strategy aimed at integrating its service channels, ramping up its efficiency

levels, and enabling it to roll out a new generation of products − by building a converged IP

network. In doing so, the bank has demonstrated the true meaning of unified communications as

distinct from simply allowing a proliferation of different communications capabilities. Axis bank

is India’s largest and the world’s fifth largest bank, with more than 90 million customers, 15,000

branches and 7,000 ATMs in India and 40 other countries

Business Challenge

Executing an enterprise wide IT strategy to integrate one’s service channels is no mean feat for

any organisation. When your operations are scattered across a myriad of geographies and time

zones, it’s even trickier. ASxis bank recognised that success required the company to enlist the

expertise of a partner to design, build, and manage a converged network capable of carrying all

its present and future traffic. The integrator would also be responsible for bandwidth, all

networking equipment, software, and management as well as a 24x7 helpdesk, service level

agreements, and the management of scheduled and unscheduled network outages.

Solution Provided

Over a period of eight years, starting in 2002, Datacraft worked with the Cisco Internet Business

Solutions Unit, built and deployed an integrated IP network that powers all the bank’s business

processes in some of the world’s most high-tech cities as well as in India’s most remote rural

areas. Applications powered by the network range from core banking, treasury operations and

trade finance to inter-branch voice communication and unified messaging. The project, which

has met all budget and timeline requirements, was executed in five phases. Phase I covered 1,400

branches in 49 cities. Phase II covered 3,400 branches in more than 300 cities. Phase III involved

networking the remaining 6,100 branches. Phase IV covered an additional 2,800

SERVICE ENVIRONMENT OF AXIS BANK

INTERNAL ANALYSIS (SWOT)

Strengths:

BRAND NAME : Axis Bank has earned a reputation in the market over the period of time(Being the oldest bank in India tracing history back to 1806)

Market Leader :  Axis bank is ranked at 380 in 2008 Fortune Global 500 list, and ranked 219 in 2008 Forbes Global 2000. With an asset base of $126 billion and its reach, it is a regional banking behemoth.

Distribution Network Wide : Excellent penetration in the country with more than 10000 core branches and more than 5100 branches of associate banks (subsidiaries).

Diversified Portfolio :  Axis  Bank has all the products under its belt, which help it to extend the relationship with existing customer. SBI Bank has umbrella of products to offer their customers, if once customer has relationship with the bank. Some Products, which  axis  Bank is offering are: Retail Banking Business Banking Merchant Establishment Services (EDC Machine) Personal loans & Car loans Insurance Housing Loans

Government Owned : Government owns 60% stake in axis bank. This gives axis bank an edge over private banks in terms of customer security.

Low Transition Costs : axis bank  offers very low transition costs which attracts small customers.

Weaknesses:

The existing hierarchical management structure of the bank, although strength in some respects ,is a barrier to change. Though axis  cards are the 2nd largest player in the credit card industry, it has the highest no performing assets (NPAs) in the industry, which stand out to be at 16.28 % (Dec 2007).Modernisation:  axis bank lags with respect to private players in terms of modernisation of its processes, infrastructure, centralisation, etc.

Opportunities:

Merger of associate banks with axis bank : Merger of all the associate banks (like  UTI , etc) into axis bank  will create a mega bank which streamlines operations and unlocks value. Planning to ads 2000 branches and 3000 ATMs in 2008-2009. This will further increase its reach. Increasing trade and business relations and a large number of expatriate populations offers a great opportunity to expand on foreign soil.

Threats:

Advent of MNC banks: Large numbers of MNC banks are mushrooming in the Indian market due to the friendly policies adopted by the government. This can increase the level of competition and prove a potential threat for the market share of axis  bank.

Consumer expectations have increased many folds in last few years and the bank has not been responsive enough to meet them on time.

Private banks have started venturing into the rural and semi-urban sector, which used to be the bastion of the State Bank and other PSU banks

Employee Strike: There was an employee strike in the year 2006 which disrupted SBI’s activities. This can be repeated in the future

EXTERNAL ANALYSIS (PESTAL ANALYSIS)

Political and legal environment

Government and RBI policies

Declaration of measures like waiver of short-term agricultural loans,

to attract the farmer’s votes.

Exploitation of various banks in the cooperative sector, open and run by the politicians.

Chairmen of the various banks appointed by the govt.

Economic environment

Existence of banking in one form or the other from time to time. Commencement of the present era in banking with establishment of bank of Bengal in 1809 under the government charter and with government participation in share capital.

Every year RBI declares its 6 monthly policy and accordingly the various measures and rates implemented which has an impact on the banking sector.

Union budget affects the banking sector to boost the economy by giving certain concessions or facilities. For e.g. encouragement of the savings in the Budget, relaxation of the FDI limits.

Social environment

Nationalization of the banks in 1969 –

Only big business houses and the effluent sections of the society getting benefits of banking in Indi

To adopt the social development in the banking sector and speedy economic progress, consistent with social justice.

Help economically weaker section of the society and provide need-based finance to all the sectors of the economy with flexible and liberal attitude. e.g. various types of loans to farmers, working women, professionals, traders, loans, housing loans, consumer loans etc.

Banks having big clients or big companies have to provide services like personalized banking to their clients.Banks have changed the culture of human life in India and have made life much easier for the people.

Technology environment

• Much important and wider role of technology in bank’s internal control mechanisms and services offered by them.

• Change of the concept of ‘branch banking’ to ‘anywhere banking’.

• An era of ‘cashless society’ with ‘electronic-purse’.

• Use of SMS and Internet as major tool of promotions and utility to customers.

• Simplified operations and customer handling.

• Home banking and Internet banking.

ABOUT AXIS BANK

Axis Bank was the first of the new private banks to have begun operations in 1994, after the

Government of India allowed new private banks to be established. The Bank was promoted

jointly by the Administrator of the specified undertaking of the Unit Trust of India (UTI - I), Life

Insurance Corporation of India (LIC) and General Insurance Corporation of India (GIC) and

other four PSU insurance companies, i.e. National Insurance Company Ltd., The New India

Assurance Company Ltd., The Oriental Insurance Company Ltd. and United India Insurance

Company Ltd.The Bank today is capitalized to the extent of Rs. 405.17 crores with the public

holding (other than promoters and GDRs) at 53.09%.The Bank's Registered Office is at

Ahmedabad and its Central Office is located at Mumbai. The Bank has a very wide network of

more than 1000 branches and Extension Counters (as on 31st March 2010). The Bank has a

network of over 4055 ATMs (as on 31st March 2010) providing 24 hrs a day banking

convenience to its customers. This is one of the largest ATM networks in the country.The Bank

has strengths in both retail and corporate banking and is committed to adopting the best industry

practices internationally in order to achieve excellence.

Goals:

1. Promote and encourage the adoption of exceptional customer service as a fundamental

principle in the delivery of motor-vehicle-related services.

2. Foster awareness of the vital role every service provider plays in achieving service

excellence and promote the importance of providing each individual with the knowledge,

skills and tools to deliver quality service.

3. Encourage and facilitate the sharing of ideas, technologies and practices which contribute

to the achievement of customer service excellence.

4. Identify and share those service delivery techniques which most effectively and

efficiently meet customer expectations.

5. Identify and share methods of obtaining customer expectations and measuring the level of

satisfaction with the quality of services, products and information provided.

6. Recognize individuals and jurisdictions making substantial contributions to the

enhancement of service quality.

7. Exchange information with other AAMVA standing committees and work to achieve

mutual goals.

MARKETING MIX OF AXIS BANK

PRODUCT MIX

ATM Network7-Day BankingTelebankingiConnect-Internet BankingIt includes all different product lines a company offers to its customers.Savings AccountRewardsDial-A-DraftCredit Limit Increase24-Hour ATMsConcession on Personal RemittancesOverdraft FacilityFree ATM CardOther FeaturesCredit Cards

PRICE MIX

It is nothing but the interest rates charged by the different banks.ATM Card Issue Free2 ATM cards issuedCurrent AccountSavings AccountTransactionChargesCheques bookIssue of duplicate statement

PLACE MIX

It is the location analysis for banks branches. Some of the factors affecting the location analysis are :-

The Trade AreaPopulation CharacteristicsCommercial StructureProximity to other convenient Outlets

Real Estate RatesProximity to Public TransportationLocation of CompetitionVisibilityAccess

PROMOTION MIX

It is making the customer more and more aware of the services and benefits provided by the banks.

Different ways of promotion are :-

Public RelationsPersonal SellingSales PromotionWord-of-mouth PromotionTelemarketingInternet

PEOPLE

An essential ingredient to any service provision is the use of appropriate staff and people. Recruiting the right staff and training them appropriately in the delivery of their service is essential if the organisation wants to obtain a form of competitive advantage. Consumers make judgements and deliver perceptions of the service based on the employees they interact with. Staff should have the appropriate interpersonal skills, aptititude, and service knowledge to provide the service that consumers are paying for.

PROCESS

The process mix constitutes the overall procedure involved in using the services offered by the bank. A process should be such that the customer is easily able to understand and easy to follow.

1. Producing of proper documents

2. Filling up of application form

3. Paying for the initial down payment.

PYSICAL EVIDENCE

Physical evidence is the overall layout of the place i.e. how the entire bank has been designed. Physical evidence refers to all those factors that help make the process much easier and smoother. , the physical evidence would be the placement of the customer service executive‟s desk, or the location of the place

for depositing cheques. The more the bank does to make the service easier and better the more satisfied will be the customer.

MARKET SEGMENTATION BY AXIS BANK

Axis Bank is eyeing rural India for increasing exposure in view of the huge demand for banking in the rural sector. Axis Bank has set up 8,000 “touch points” across the country for penetrating rural pockets and is developing low-priced ATMs. The bank has also disbursed Rs 2,500 crore towards rural sector financing. The Bank is expecting good rural credit to off take in the current year and has also rolled out "Ashan" ATMs for the urban and semi-urban markets in India. This is certainly a very positive move from Axis Bank. Until now, Axis was more focused on the retail banking and home loans segments in urban areas. Axis has been very successful in these areas; in the home loan segment, Axis the number one private sector bank and in retail, they have a good amount of market share too.

Demographics variables

Location

Metros & divisional cities

Occupation

Business persons

Salaried class (both Govt. and private)

Working woman

Age

Senior citizens

Minor

But India is a country of villages and more than 70% of the population still lives in rural areas.

The demand for credit in the rural markets was Rs 1.5 lakh crore, while the supply was only Rs

4,000 crore. Until now, the rural banking segment was controlled by government owned SBI, but

now things are changing. Rural India is developing very fast-- the growing economy is leading to

increase in business activities, which in turn has people in villages wanting many more services

from a bank than simply depositing their money.

CUSTOMER REQUIREMENTS AND CUSTOMER EXPECTATIONS

FROM AXIS BANK

CUSTOMER REQUIREMENTS

We need safeguard, according to strict standards of security and confidentiality, any information company share with us. To limit the collection and use of customer information to the minimum and require to deliver superior service to customers, which includes advising customers about products, services and other opportunities, and to administer business. To permit only authorized employees, who are trained in the proper handling of customer information, to have access to that information. Employees who violate our Privacy Promise will be subject to our normal disciplinary process. To not reveal customer information to any external organization unless we have previously informed the customer in disclosures or agreements, have been authorized by the customer, or are required by law. To always maintain control over the confidentiality of our customer information. It may, however, facilitate relevant offers from reputable companies. These companies are not permitted to retain any customer information unless the customer has specifically expressed interest in their products or services. To tell customers in plain language initially, and at least once annually, how they may remove their names from marketing lists. At any time, customers can contact us to remove their names from such lists. Whenever company hire other organizations to provide support services, it will require them to conform to their privacy standards and to allow the audit them for compliance. For purposes of credit reporting, verification and risk management, we will exchange information about our customers with reputable reference sources and clearinghouse services. To not use or share - internally or externally - personally identifiable medical information for any purpose other than the underwriting or administration of a customer's policy, claim or account, or as disclosed to the customer when the information is collected, or to which the customer consents. To attempt to keep customer files complete, up-to-date, and accurate. And to tell customers how and where to conveniently access their account information (except when they are prohibited by law) and how to notify us about errors which we will promptly correct.

CUSTOMER EXPECTATIONS

Give you clear information explaining the key features of the services and products you tell us you are interested in .give you information on any type of account facility which we offer and may suit your needs

tell you what information we need from you to prove your identity and address and to comply with legal and regulatory requirements,

We will make sure that all advertising and promotional material is clear, fair, reasonable and not misleading. We will treat all your personal information as private and confidential [even when you are no longer a customer]. We will not reveal transaction details of your accounts to a third party, including entities in our group, other than in the following four exceptional cases when we are allowed to doTaking care of your cheques, passbook, cards, PINs and other security information is essential to help prevent fraud and protect your accounts.Never give your account details password or other security information to anyone unless you know who they are and why they need them.

QUALITY CONCERNS OF AXIS BANK

"Best IT Team of the Year Award"

at the IDRBT Banking Technology awards for the year 2005-06.

SKOTCH Challenger Award for Change Management

Best IT User in Banking & Financial Services Industry - 2004

by NASSCOM in partnership with Economic Times

Golden Peacock Award for Excellence in Corporate Governance - by Institute of Directors

FICCI's Rural Development Award for Excellence in Rural Development -

Skotch Challenger Award for Exemplary use of Technology

for becoming a pioneer in Public Banks

Golden Peacock National Training - by Institute of Directors

National Award for Excellence in SSI Lending

Ranked 2nd for 4 consecutive years

Banking Technology Awards 2004 Runner up in 'Best IT Team of the Year Award 2005'

Jointly Adjudged by IBA, Finacle & TFCI

Money Outlook Award - 2004Runner up in 'Best Bank (public

Sector) of the year Award' -2005

Niryat Bandhu Gold Trophyfor excellence in export perforamnce by Federation of Indian Exporters Organization (FIEO)

21st Amongst Top 500 Companiesby the leading Financial Daily The Economic Times, June 2005

9th amongst India's Top 50 Most Trusted Service Brands

A.C Nielson Survey, The Economic Times Dec 2004

3rd Rank amongst Banking Sector in India 323rd Rank in the World

The Bankers' Almanac, January 2006

368 amongst Top 1000 Global Banks

The Banker, London July 2005

Skoch Challenger Award for Exemplary Use of Technolgy

Winner for becoming a pioneer in public banks by Skoch consultancy services pvt ltd, Gurgaon 2005

FICCI's Rural Development Award Award for excellence in rural development 2005

INTEGRATED GAP MODEL OF AXIS BANK

I GAP OF AXIS BANK

It refers to the difference between customers’ expected service and management’s perceptions of customers’ expectations . This gap means that management may not correctly perceive customer expectations.

II GAP OF AXIS BANK

It refers to the difference between management perceptions of customers’ expectations and service quality specifications . This gap means that although the people in management level may perceive the correct expectations of the customers, they may not have suitable and sufficient service quality specifications.

III GAPOF AXIS BANK

It refers to the difference between service quality specifications and the real service delivery . This gap means that although the service providers may have suitable and sufficient service quality specifications, they may not have the satisfactory service delivery in the real situation. That may be because service providers lack well-trained employees to deliver satisfactory service.

IV GAP OF AXIS BANK

It refers to the difference between the service delivered and external communication about the service with customers. It is, the service providers may not have suitable and sufficient communication with the customers or the service providers may have commitments that exceed what they can do or they may not sufficiently inform the customers of what they have done.

V GAP OF AXIS BANK

It is the difference between consumer expectation and their perception of service quality - measured by the difference between what customers expect and what customers perceive about the service. This means that the service quality is closely related to management perception, marketing, personnel management, communications with customers, service specifications and delivery.

STRATEGIES ADOPTED BY AXIS BANK TO CLOSE THE GAP FOR EFFECTIVE COMMUNICATION AND DELIVERY OF SERVICES

Internal and external research What do customers really want from service & create value

Listening to what customers and employees feel about performance

Improve the technical service quality as well as functional service quality

Evaluation of performance

Action

Monitoring

Improving

Motivation

METHODS FOR ENHANCING SERVICE QUALITY

Internal performance analysis Customer satisfaction analysis

Specialist market research

SERVICE BLUEPRINT OF AXIS BANK

FRONT OFFICE:

service delievery begins with loan application which is further processed through

frontline officers.

Customers are notified through a telephone and income levels are verified and initial

screening is done.

LINE OF VISIBILITY:

Credit checks are made

Employer receives the payments through confirmation of credit bureau.

Issue of checks in the form of print payment book and closing of accounts with help of

customers.

BACK OFFICE:

Supporting activities which may includes:

Database records

Branch records through accounting

Closing accounts if verifying procedure fails with the customer records.

SERVICES RECOVERY STAGES OF AXIS BANK

Description of Charges

Revised Basis of Recovery

Account Opening Charge

Nil (Statutory Charges would recovered)

NA

Account Closing Charge

Nil NA

Annual Maintenance

Rs. 500 p.a. for customer authorizing Bank to debit DP

AMC for existing Demat Accounts to be recovered up-front in April. New

Charge charges from Bank account maintained with Axis Bank.

Accounts would be charged on pro-rata basis from the Next Day of Account Opening.

Rs. 2,500 p.a. for customer who has not authorized bank to debit DP charges from Bank account maintained with Axis Bank.

Demat Charges Rs. 5 per certificate subject to a minimum of Rs.50 per request.

Demat Charges to be recovered through monthly bill.

Remat Charges Rs. 20 for every 100 securities or part thereof or Rs. 50 per request whichever is higher

Remat Charges to be recovered through monthly bill.

Debit Transactions

0.04% (Min Rs.20 per Instruction)

Sell Transaction Charges to be recovered through monthly bill.

Failed / Rejected Instruction

Rs.10 per Instruction Failed/ Rejected Instruction Charges to be recovered through monthly bill.

Ad-hoc Statement

Rs.100 per Statement Statement Charges to be recovered upfront.

Pledge

Creation 0.04% (Min Rs. 25) + NSDL Charges Rs.25/- per instruction

Pledge Creation Charges to be recovered through monthly bill.

Closure 0.04% (Min. Rs. 50) per Instruction

Pledge Closure Charges to be recovered through monthly bill.

Invocation 0.04% (Min. Rs. 50) per Instruction

Pledge Invocation to be recovered through monthly bill.

Speed-e

SPEED-e Annual Maintenance charges

Rs. 20 per User ID for Password Users.

SPEED-e AMC charges to be recovered up-front in the month of April every year.

Rs. 1000 per User ID for Smart Card / E- Token Users.

SPEED-e Debit Transactions

Rs.20 per instruction Sell Transaction Charges to be recovered through monthly bill.

Freezing Instruction on SPEED-e

Rs. 125 per instruction Freezing Instruction Charges to be recovered through monthly bill.

POSITIONING MAP OF AXIS BANK

High Price  

Low

                               F

    E                                   A                       B

High

Quality  

             D

     C

Quality

  LowPrice  

Positioning maps are a useful tool for giving you a graphical idea of where your product stands vis-à-vis other products in the market at a given time. In the above map, for instance, the maker of product C would know that there are no products directly competing with it and that it has a distinct position in the market. The maker of product B, on the other hand, would note that product A is competing too closely with it, so product A can be deemed as a direct competitor, while product E is a close competitor as well. Of course, while no product is competing with product D in its position above, it is a bad position to have: low price and low quality equate to being an inferior product.

SERVICESCAPE FOR AXIS BANK

There are service settings where there is little or no customer involvement in the servicescape. Telecommunications, insurance and call centres etc., are examples of remote encounters. These use remote servicescapes. They are back office .The place has to be designed to keep employees’ motivation and morale high. The servicescape should premeditate ergonomically to facilitate teamwork, supervision and operational efficiency. In axis bank a large part of the floor is marked as restricted, leaving little space in the form of an arrow aisle along the outer walls of the hall for customers. The message is clear –customer must not enter the restricted area, that is where the most important job of the bank, internal operations, is conducted and by entering t0hat area , customers will be interfering with that task. Whereas private banks approach customers with conviviability. The air conditioned lounge with comfortable seats and a cold water dispenser as you pass through a spotlessly clean glass door, makes customers feel welcome . They are allowed more space to move and occupying a seat across from executives desks suggest that customer are indeed central to all activity. The service with public bank also suggests that customers have a formal –official relationship with public bankers, whereas servicescapes in private banks encourage casual –affable interactions.

EMPLOYEES AND CUSTOMER ROLE IN SERVICE DELIVERY

EMPLOYEES ROLE AND RESPONSIBILITY

customers are treated fairly at all times

Complaints raised by customers are dealt with courtesy and in time

customers will be fully informed of avenues to esacalate their complaints/grievances within the organization and their rights to alternative remedy, if they are not fully satisfied with the response of the bank to their complaints

The Bank will treat all complaints efficiently and fairly as they can damage the Bank's reputation and business if handled otherwise.

The employees will work in good faith and without prejudice to the interests of the customer.

The Bank will inform customers where to find details of procedures for handling complaints fairly and quickly.

If the customer complaint is received in writing, we will endeavour to send an acknowledgement/a response within a week. If customer complaint in relayed over phone at our designated telephone helpdesk or customer service number the bank shall provide a complaint reference number and keep customers informed of the progress within a reasonable period of time.

After examining the matter, bank will send the final response or explain why we need more time to respond and shall endeavour to do so within 30 days of receipt of complaint and will tell customers to take their complaint further if they are still not satisfied.

Suggestion Box and complaint Book are provided in all the branches. Any written complaint is instantly and promptly acknowledged.

All branches other than small branches have " May I help you counters ".

Counter staff are provided with training and additional inputs.

If counter staff/Supervisor is unable to resolve a grievance, the branch in-charge intervenes and tries to resolve the issue.

Customers' Day is observed on 15 th of every month. On this day branch in-charge will make himself available at the branch between 3 p.m. and 5 p.m. to meet customers without any prior appointment.

Customer Service Committee meetings is held every month at all Branches, Circle Offices. The sole task of the

Committee is to find out ways and means to render service to the satisfaction of the Customers. For this purpose

Committee will meet regularly at stipulated intervals to discuss in detail the strengths and deficiencies of the services presently rendered and take steps to improve it.

Special Customers' Meet is conducted on special occasions.

CUSTOMER’S ROLE IN SERVICE DELIVERY

by spreading positive word of mouth.

By delivering and selling its services by working as the agent for the bank.

Building up good relations with the bank and accepting its terms and conditions.

Keeping themselves up to date regarding the services being provided by axis bank.

By bringing up more and more customers to avail the services provided by axis bank.

AREAS OF REPONSIBILITY OS AXIS BANK FOR THEIR CUSTOMERS

     Provide superior customer service in a friendly and knowledgeable manner.      Process transactions efficiently and accurately.    Refer enquiries to the appropriate staff.     Maintain a general knowledge of the bank’s common products and services.     Ensure all Bank & Industry service standards and codes of conduct are adhered to.     Take ownership of client complaints/issues, initiating action or resolving the problem

within 24 hours and keeping the clients informed during the process.   

MARKET COMMUNICATION SYSTEM OF AXIS BANK

Participation in national and international exhibitions is a common form of communication which has several advantages. It is possible to demonstrate products to a larger part of the target group, and it gives an opportunity to establish personal contacts with customers as well as potential suppliers, sub-suppliers and colleagues.

It is costly to participate in fairs. It therefore requires considerable and thorough preliminary work to get a sufficient yield from participating. It can be an advantage to participate in fairs together with one or more companies with products which supplement one’s own product programme. This will reduce the costs of the fair.

Impersonal contact. The impersonal contact is mainly in the form of advertising in various media and sending out brochures and other sales material. The effect is largest when advertising in magazines etc. which cover the target group best. A media index exists which lists the number of persons and the types reading the individual newspapers and magazines. Personal contact can be:

Advertisements . The price of advertising depends on the number of persons expected to see the media used (newspapers, magazines, directories, telephone directories, cinema, TV, radio, streamers, posters, etc.). When evaluating the price of advertising, it should be seen in relation to the expected effect of inserting the advertisement, such as number of responses to the advertisement or the number of products sold.

The advertisement should have a telling headline or an illustration to catch the reader’s attention. The message should be brief and to the point, and it is important that the reader can see what to do to get the product. Address and telephone number should therefore be included.

Brochures. A brochure describing the company and its products, can support personal sales.

Sales letters. A comparatively inexpensive way of contacting potential customers is to send out sales letters, perhaps supplemented by a brochure or specimen. The purpose of a sales letter is to create a positive attitude to the product so that the customer orders the product or requests more information.

SERVICE INTERMEDIARIES OF AXIS BANK

AGENTS : These are those agents who work as the part of Axis bank but there work is

external to the bank services internally. They are paid agents where as some are unpaid

agents.

BROKERS: these are those people who work as the part of the bank in selling its

products such as shares, bonds, loans, mutual fund, debentures, policies, insurance, etc.

they are provided by the fixed brokerage rate by Axis bank.

FRANCHISEE OUTLET : Axis bank had opened its some of franchisee outlets in many

places in order to serve the customers at their nearby places. They are commission based

employees and get profits at the time of higher earnings.

CUSTOMER ITSELF : these are the customers who had there accounts in Axis bank.

Sometime they work for the bank in selling their products and services by spreading

positive word of mouth.

POSTAL AGENTS : these are agents of post offices who provide different services of

banks in nearby post offices located in different areas. They offer various services and

schemes to the customers such as fixed deposit, cash withdrawal, RD, etc.

BANK EMPLOYEES : these are the internal working employees who work as an

intermediary between bank and its customers. They offer various services such as

account opening, cash withdrawal, cash deposit, demand draft.,etc.

MANAGING WAITING LINES AT AXIS BANK

Internet banking also known as Online banking or e-banking is one of the most recent technological innovations, which is becoming a need for every common man. It uses Internet as a medium for delivery banking services. Today, banking is not limited to branches, where a person goes to bank for withdrawal of cash or request a statement of accounts or to deposit a check. An inquiry or transaction can be handled online without any reference to the branch any time through Online banking.

Internet Banking provides benefits to both banking systems and customers:

Fast: Normal banking is slow and time consuming, as customer needs to wait in tiresome queue for request of statement or transaction. But in Online banking transfer of money (funds) from one account and other can be done in minutes.

Convenient: Customers can access many accounts in a bank efficiently. They can carry out financial transactions comfortably from home, if they have Internet.

Cost effective: Bank can handle thousands of customers at a time through Online banking. The administrative (official) work of bank can be reduced highly as bank operations can be performed by less number of cashiers and clerks.

All time accessibility: Bank account can be accessed any time (24 hours of a day and 7 days of a week) and from anywhere (at any location). Customers can easily transfer money from their

accounts or receive money in their accounts electronically. Acceptability of digital signatures in all banks is of great advantage.

Flexibility: Customers can easily apply for loan and get it without going to local bank. Bank accounts can be used to buy or sell stocks and securities through Online banking. Without any paper work and without visiting bank, new accounts can be created and old accounts can be closed through Online.

BIBLIOGRAPHY

http://www.axisbank.com/aboutus/aboutaxisbank/About-Axis-Bank.asp

http://www.axisbank.com/aboutus/promoters/Promoters.asp

http://www.axisbank.com/aboutus/ourmissionandvalues/Our-Mission-And-Values.asp

http://www.docstoc.com/docs/3873614/Banking-Services-Marketing/

http://www.icicibank.ca/personalbanking/popup_careers_csr.htm

http://www.equitymaster.com/detail.asp?date=4/22/2005&story=1

http://www.axisbank.com/corporate/treasury/treasury.asp

http://www.axisbank.com/corporate/treasury/foreignexchangedesk/foreign-exchange-desk.asp

http://www.google.co.in/search?hl=en&source=hp&q=service+gap+model+of+banks&btnG=Google+Search&meta=&aq=f&aqi=&aql=&oq=&gs_rfai=

http://www.emeraldinsight.com/fig/0850050401003.png

http://www.axisbank.com/personal/investments/demataccount/demat-account-Schedule-of-Charges.asp?ucode=Personal&ccode=Accounts&pcode=demataccount

http://www.google.co.in/search?hl=en&source=hp&q=services+recovery+stages+for+axis+bank&btnG=Google+Search&meta=&aq=f&aqi=&aql=&oq=&gs_rfai=

http://www.aima-ind.org/ejournal/articlesPDF/1DrShaliniNTripathi122020071805683.pdf

http://www.thecompanymarketing.com/banking/online-banking/internet-banking-is-becoming-a-need-to-have-service/

http://www.aamva.org/MembershipLeadership/Committees/DiscCSD/

http://pw1.netcom.com/~jstorres/internalaudit/basle1.html

http://www.bbmms.org/2010/01/marketing-communication-system-and-the-promotion-mix/

http://www.businessballs.com/customer_service.htm

http://www.ifmr.ac.in/pdf/workingpapers/9/blueprint.pdf

http://seekingalpha.com/article/13257-icici-bank-to-focus-on-rural-indian-banking-segment-ibn

http://www.wikinvest.com/stock/AXIS_Bank_(BOM:532174)

http://www.axisbank.com/privacypolicy/Privacy-Policy.asp

http://www.google.co.in/search?hl=en&source=hp&q=requirements+of+customers+of+axis+bank&btnG=Google+Search&meta=&aq=f&aqi=&aql=&oq=&gs_rfai=

http://www.axisbank.com/aboutus/bankersfairpracticecode/Bankers-Fair-Practice-Code.asp?disp=none&seltab=20&tottab=23

http://pnbindia.in/english_web/pnbaward.htm

http://manager.smetoolkit.org/philippine/en/content/en/6373/Using-Positioning-Maps

http://www.slidefinder.net/p/physical_evidence_servicescape_chapter/6987500

http://www.123oye.com/job-articles/advertising-sales-management/servicescape.htm

http://www.axisbank.com/english/scripts/GrievanceRedressalPolicy.aspx

http://www.google.co.in/search?hl=en&source=hp&q=how+customers++of+canara+bank+are+helping+in+service+delivery&btnG=Google+Search&meta=&aq=f&aqi=&aql=&oq=&gs_rfai=