The 7 ps of services marketing in the banking industry

7 ps of service marketing mix with examples

Applied Intelligence, 45 2 , Each office has to justify investments like facility design according to its profitability. If a bank, for example, wants to have the image of a user-friendly bank, its interior will look somewhat like a living room, with sofas, plants, and smiling employees. Internal Marketing IM The concept of internal marketing refers to a marketing approach within an organization, aimed at employees. It is because people are the only element in the service market mix that can interact directly with customers R. As well as, reinforcing your brand values. This is where physical evidence plays a part. The number of banks differentiating to such extents can be estimated to be rather small.

They allow for proposing a good service quality which is the major way of differentiation for banks Presentation and Process are not considered by as important as the people aspect. Many clients cannot identify the difference between the product or service you provide from the member of staff who provides it.

References Ajzen, I. Jones, G. Ensure that your team have the right policy for online interaction as the collective message is very important.

Marketing mix in retail banking

Ha, S. While marketing graphics promote products and services, branding graphics enhance brand image and should be used complementary with all marketing activities. Neuroimage, 42 2 , In fact, insertion of subjective norm to measure customer loyalty should provide more accurate result MacKerell Jr et al. An extended CRM model The elements people, the presentation and the process can be considered as a part of the CRM concept as shown before. Ensure that your team have the right policy for online interaction as the collective message is very important. All these are the part of recurring deposits. The authors will thus propose a new model which is considered to be more relevant for a differentiation purpose. As such, companies need to compete to grow and survive. SBI should come with a branch design policy, but does not enforce it at any cost, due to the belief that it is not economically reasonable. People also have a key part in the general strategy of the bank.

The last hypothesis 8 also supports the expected results and suggest that there is a positive relationship between subjective norms and customer satisfaction. This requires satisfaction of customers. Proper training can make a big difference in the customer satisfaction.

The service provider is one of the most crucial parts in the provision of services, being for example friendly, knowledgeable and professional.

7 ps of marketing in banking sector + pdf

Reducing the loss of customers, attracting new customers and improving customers and employees satisfaction are three of the aims of the customer care. The authors will thus propose a new model which is considered to be more relevant for a differentiation purpose. Figure 1 depicted research model of this study, in that marketing mix and the subjective norms are independent variables of the study while customer satisfaction is the dependent variable in the research model.

A new theory for public service management?

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7 P’S of Marketing of sbi bank