Chapter 1

Introduction of Banking Sector

The Indian banking industry, which is governed by the banking regulation act of India,
1949 can be broadly classified in to two major categories, non-scheduled and scheduled
banks. Scheduled banks comprise commercial banks and the co-operative banks. In terms
of ownership commercial banks can be further grouped in to nationalized banks, the state
bank of India and its group banks. Regional rural banks and private sector banks. These
banks have over 67000 branches spread across the country.

The Indian banking sector can be broadly classified in to nationalize (government banks),
private banks and specialized banking institutions.

Since the nationalization of banks in 1969, the nationalized banks have acquired a place
of prominence and since then seen tremendous progress.

The banking in India is highly fragmented with 30 banking units contributing to almost
50% of deposits and 60% of advances. Indian nationalized banks continue to be the major
lenders in the economy due to their sheer size and penetrative networks which ensures
them high deposit mobilization.

Nationalized continue to dominate the Indian banking arena. Industry estimates indicate
that out of 274 commercial banks operating in India, 27 are in the public sector, 31 in
private in private sector and 29 are foreign banks.
PRIVATE AND FOREIGN BANKS

The RBI has granted operating approval to a few privately owned domestic banks; of
these may commence banking business. Foreign banks operate more than 150 branches in
India. The entry of foreign banks is based on reciprocity, economic and political bilateral
relations.

RBI BANKING

The reserve bank of India is the central banking institutions. The RBI acts as a centralized
body monitoring any discrepancies or shortcomings in the system. It is the sole authority
for issuing bank notes and the supervisory body for banking operations in India it is also
responsible for for granting licenses for new bank branches.29 foreign banks operate in
India with full banking licenses. Several licenses for private banks have been approved.
Despite fairly broad banking coverage nationwide, the financial system remains
inaccessible to the poorest in India.

INDIAN BANKING SYSTEM

The banking system has three tiers. These are the scheduled commercial banks; the
regional rural banks, which operate in rural areas, not covered by the scheduled banks;
and the co-operative and the special purpose rural banks.

SCHEDULED AND NON-SCHEDULED BANKS

There are approximately 80 scheduled commercial banks Indian and foreign; almost 200
regional rural banks; more than 350 central co-operative banks, 20 land development
banks; and a number of primary agricultural credit societies. In terms of business, the
public sector banks, namely the state bank of India and the nationalized banks, dominate
the banking sector
 Chapter2

Company Profile

BACKGROUND:

Standard Chartered Bank is one of the largest MNC bank which employs 38,000 people
at over 950 locations in more than 50 countries in the Asia Pacific Region, South Asia,
the Middle East, Africa, the United Kingdom and the Americas.

Standard Chartered is listed on both the London Stock Exchange and the Stock Exchange
of Hong Kong and is in the top 25 FTSE-100 companies, by market capitalization. The
Bank is well-established in growth markets and aims to be the right partner for its
customers by combining deep local knowledge with global capability. It is trusted across
its network for its standard of governance and its commitment to making a difference in
the communities in which it operates.
Standard Chartered Bank offers a full range of traditional as well as structured banking
products to corporate clients, covering short and long term funding in local and foreign
currencies and transaction banking including comprehensive trade finance, supply and
dealer chain financing, and cash management services.

The Bank has expanded client coverage further to include the middle market segment of
corporate customers in selected industry sectors and has also commenced initiatives
covering commercial real estate and commodity finance. The Bank works in close
partnership with other businesses - Global Markets and Consumer Banking, to offer a
seamless and comprehensive banking solution to clients.

STANDARD CHARTERED INDIA:

Standard Chartered Bank India is the country’s largest international bank, with 82
branches and over 8,000 employees and is one of the Group’s key operations worldwide
in terms of profitability. The Bank has played a significant role in the history of the
banking industry in India since opening its first branch at Kolkata in 1858 and completed
150 years of existence as a company in 2003. Standard Chartered Bank India has a
combined customer base of 2 million in consumer banking and over 800 top corporate
relationships.

The Bank prides itself in building long-standing relationships with corporate clients and
its 150 year presence in India has resulted in deep local expertise that leverages its global
network and world-class product suite, enabling it to become the Bank of choice to the
country’s top corporate.
Standard Chartered Bank offers a wide range of personal banking products and services
including credit cards, mortgages, auto loans, personal loans, wealth management
products and business finance solutions for Small and Medium Enterprises.
Standard Chartered Bank India is an active participant in various advisory forums and has
played a lead role in RBI committees on Rupee Derivatives and Options. The Bank’s
back office operations, which were India’s first to be accorded ISO 9002 certification,
now form part of the state-of-the-art global processing and reconciliation hub in Chennai.

WORLD-CLASS PRODUCTS AND SERVICES

Some examples of innovative products and services from Standard Chartered include:

• Net Banking - A secure Internet banking service that provides the convenience of
completing a whole range of transactions from your desktop.

• Home Assist – A unique end to end property service that makes the process of buying a
home easy and transparent aXcessPlus - A savings account that provides clients
unparalleled access to their money

• Enhanced Business Plus - A value packed current Account to take care of clients’
business needs

• Smart Fill – A Bharat Petroleum co-branded debit card which helps clients save 2.5 per
cent every time they fill fuel Air Sahara Gold Credit Card - The first airline gold credit
card in the country that has guaranteed free tickets and upgrades apart from normal
mileage point benefits

• Diva - A specially-designed credit card for women with a host of value added features

• Mini Card - The first miniature card in India targeted at the younger generation which is
packed with a host of offers M-Wallet- A credit card on the mobile phone

• B2BeX - A web-based platform that will revolutionaries international trade

MORE THAN BANKING:

Corporate Social Responsibility (CSR) is at the core of the values of Standard Chartered
Bank. The Bank is committed to the communities and environments in which it operates.
The Bank strongly supports the trend towards delivering shareholder value in a socially,
ethically and environmentally responsible manner.

‘Living with HIV’ is a global community initiative of Standard Chartered

that is aimed at raising awareness of HIV/AIDS amongst employees through workshops
and amongst stakeholders by providing thought leadership. Under ‘Seeing is believing’, a
programme that aims to restore sight to one million people globally by 2006, the Bank
has raised funds to help 8000 people to see.

In partnership with Sight Savers International and VISION2020 the Bank is now
involved in two flagship projects at Vishakhapatnam and Muzaffarpur, both aimed at the
elimination avoidable blindness. Furthermore, in support of the communities ravaged by
the Asian Tsunami Crisis in 2004 the Standard Chartered Group committed US$ 1
million to India. The Bank is utilizing these funds for the rehabilitation of two villages
adopted near Chennai.

In 2004, Standard Chartered initiated the phenomenally successful Standard

Chartered Mumbai Marathon - an event dedicated to charity fund raising. The two
marathons held so far have forged partnerships with customers and charities and
deepened the Bank’s ties with the community, with over US$ 1 million being raised in
2005.

FUTURE PLANS:
After 150 years of service to India, Standard Chartered Bank continues to be committed
to the country and optimistic of positively contributing to the Indian Financial Sector.
The Standard Chartered Group considers India to be one of the greatest economic
opportunities of the 21st century and is proud to be so strongly positioned here. The Bank
has ambitious plans to transform its business in the country and to further expand
operations across the country.

MARKET POTENTIAL:

With a burgeoning national economy, financial-sector reforms and a growing middle

class, the Indian market offers huge potential for SCB to grow. The large and growing
middle class population and increase in
Disposable incomes have created booming markets in housing, motor, televisions,
computers, mobile phones and other products, most of which require financing. SCB has
been effective in leveraging this opportunity

Chapter 3
 NATURE OF THE JOB ASSIGNED

The job assigned was MARKETING OF STANDARD CHARTERED BANK

PRODUCT–Savings Account and Comparative analysis of savings account standard
chartered bank with other MNC Banks. I was required to do market research of saving
accounts of different banks and find out the unique features of the saving account of
different banks.

The Project was an endeavor to study the existing saving accounts and the standard
Chartered’s presence in it. It also tries to analyze Standard Chartered’s latest policies,
features, gifts and offerings. In fact the Project traces the last year of Standard
Chartered’s presence, its present status and finally suggests the future course of action for
the product, price, place and promotion. All the main competitors too have been
introduced to give a fairer picture of the market.

One of the Largest MNC Bank in India is no doubt growing at very fast pace and making
inroads in the Indian market but the growth can be accelerated provided a better
marketing strategy are applied.

In the process of selling saving account I went through several stages of negotiations and
my ultimate objective was to convert the deal into final sales.

Chapter 4

RESEARCH METHODOLOGY
STATEMENT OF THE PROBLEM AND ITS SIGNIFICANCE

The study is on a special synopsis on banking that “A study of marketing strategies

with reference of savings account of Standard Chartered Bank”. The study is a
mode to understand how does we approach the customer, how we fix up appointments,
how we do sales presentations and how we convince them to close the sales.

Research means search for knowledge and research methodology is a systematic way to
solve the research problem. It is a science of study how the search is actually done. It
presents the source of data collection and tools of investigation.

Research methodology consists of the followings:-

Objectives of the study –

1. To know the various marketing strategies that standard chartered bank follows
with reference to its Savings account.

2. The innovations to be followed to enhance its network and services.

3. To find out the improvement required in strategies followed in selling of savings

account keeping in mind various rules laws and regulations.

Scope of the study:-

 Key Areas – Different Banks and Branches in Delhi

The research methodology which was followed by me, consist of the following steps:-

DEVELOPING THE RESEARCH PLAN:

The development of research plan has the following steps:-

  DATA SOURCE: The source of the data was primary data only. Primary Data
defined as the data which is collected for the first time. It is new in nature. His
type of data is collected directly from the source of information. The techniques,
which were involved in collecting the primary data, are personal interview,
surveys, questionnaire, tele calling etc.

 RESEARCH APPROACH: Surveys are best suited for descriptive research.

Surveys are undertaken to learn about people’s knowledge, beliefs, preferences,
satisfaction and so on and to measure these magnitudes in the general public.
Therefore I have done this survey for the descriptive research process.

 RESEARCH INSTRUMENT: Questionnaire was conducted for survey had both

closed-ended and open-ended. A questionnaire considered a set of question was
presented to customers.

 SAMPLING PLAN: The sampling plan calls for three decisions:

• SAMPLING UNIT: Sampling unit is who is to be

surveyed? The target population must be defined that’s to be sampled it is
necessary so as o develop sampling frames so that everyone in the target
population has an equal chance of being sampled. My sample unit was various
Branches of different banks and the account holders in Delhi.

• SAMPLE SIZE: Sample size is how many people have to

be surveyed?

Generally, large samples give more results than the smaller samples. The
sample refers to the number of respondents from the universe. My sample size
was total 30 Bank branches of various banks in Delhi comprising all areas in
Delhi i.e. south, north, central, west and east Delhi.

CONTACT METHOD: once the sampling plan has determined, the question was how the
subject should be contacted, i.e. by telephone, mail or personal interviews. But the single
way to contact the subject was personal interviews
 Chapter 5

Product Profile

Following are the products offered by the Standard Chartered Bank (SCB)

SCB

PRIORITY BANKING EXCEL BANKING

PRIORITY BANKING
The Priority Banking program revolves around five main cornerstones of service – Personal,
Professional, Profitable, Private and Privileged. Some highlights of program are:

• Priority treatment and customized solutions from your dedicated Customer

Relationship Manager (CRM) and Customer Service Manager.

• Preferential pricing on all products and charge-free banking services like free
pay orders/ drafts on our branch locations, free multi-city cheque books, free
Doorstep Banking facilities like cash/cheque pickup and delivery, and a pre-
approved Global Credit Card, free for life, with enhanced credit limits.

• An International Priority Banking Debit Card with higher withdrawal and

spending limits, zero fuel surcharge at select petrol pumps, higher reward points
and insurance cover.

• Access to best-of-breed Investment & Financial planning products, which

include mutual funds, structured products and portfolio management solutions
through tie-ups with expert financial services firms.

EXCEL BANKING

Excel Banking is available by invitation to existing Standard Chartered customers who

hold a minimum of Rs.5 lakhs (quarterly average) in any of the following or a
combination of the following accounts:

• Savings Account
• Term Deposits
• Business Plus current account
• 2-in-1 Account
 • Investments

Retail Services

Standard Chartered offers you a comprehensive range of retail services . These

include:

• Automated banking services

• Demand drafts
• Foreign exchange services
• Local and foreign currency cheques
• Safe deposit boxes
• Telegraphic transfers
• Traveler’s cheques

Chapter 6

Comparative of savings account of other MNC banks with standard

chartered bank on the basis of seven P’s of service marketing

What are seven P’s?

Product

A product is an object which is developed, produced, delivered and consumed. In service

there is no or a little tangible elements therefore the services are considered to be as
benefits which are offered to the target market.

“A service is a bundle of features and benefits and the benefits and features have
relevance for a specific target market “
Pricing

Service pricing basically follows the principle and practices of pricing of goods and,
therefore, they are either cost based or market based. With in these categories prices may
be profit oriented, government controlled, competitive or customer oriented.
For services the pricing strategy should be such that demand fluctuations should be
successfully handled.

Place

As services are intangible and inseparable the distribution channels available for product
marketing cannot be used. Because of intangibility, services can’t be stored, transported,
inventoried, traditional wholesales and other intermarries, and there fore can’t be used.
Even the retailing can’t be an independent activity. In case of services production can’t be
separated from selling, services must be created and sold at the same time.

Promotion

While we are defining the objective of our communication campaign, one should also be
clear about the target audience. In service sectors there is a direct contact between the
person who provide the service and the customer. Therefore some amount of promotion
should be targeted at the employees so as to motivate them to service the customer better.

People

In a service organization employees are essentially the contact personnel with the
customer. Therefore an employee plays an important role in the marketing operations of a
service organization. The employer should apply market research, market segmentation
and marketing activities like advertising in order to attract employees and make them
perform in the desired way. Such tradition marketing efforts should be used internally.
Physical Evidence

A customer can’t see a service, but definitely he can see various tangible clues of the
service offered like facilities, communication materials, objects, employees, other
customer’s price etc.On the basis of his perception on there tangible clues the customer
makes the purchase decision. The argument is that physical environment, facilities and
atmosphere give enough physical evidence to help in shaping customer’s perception.

Process

The importance of the process management is that it assures service arability and constant
quality. Without sound process management, balancing service demand with service
supply is extremely difficult. Services can’t be inventoried’; therefore it become essential
to find out ways and means to handle peak load to optimized different customer’s need
with varied expertise levels with in the service organizations.
PRODUCT

Particulars Standard HSBC ABN Amro Citibank

chartered
Name of the AXcess plus Power Vantage Flex account Suvidha
account account
Average Rs 10000/ qtr Rs. 25000/day Rs. 10000/day Rs 10000/mth
minimum
balance
Debit card Yes Yes Yes Yes
Maximum Rs. 25000/- Unlimited Rs. 50000/- Rs. 50000/-
withdrawal n a
day
Cheque book Free Free Free Free
Phone banking Yes Yes Yes Yes
Mobile banking No Yes Yes Yes
Draft facility Yes Yes Yes Yes
Collection of Yes Yes Yes Yes
local cheque
Working hrs 10 am – 7 pm 9 am-4pm 10am-7pm 10am-5pm
Charges for Free/quarter Free/quarter Free/quarter Free/quarter
statement of
account
Any branch Free Free Free Free
banking

PRICE

Particulars Standard HSBC ABN Amro Citibank

chartered
Average Rs 10000/ qtr Rs. 25000/day Rs. 10000/day Rs 10000/mth
minimum
balance
Charges for non Rs 750/qtr Rs 750/qtr Rs 400/qtr Rs 250/qtr
maintenance of
average
minimum
balance
Charges of Rs 220 Rs 150 1st year free Rs 150
debit card 2nd year Rs 200
Multi city Rs 250 Free Free Free
cheue book
Petro card Rs 440 N/A No Rs 350
Draft charges .30% .30% .28% .30%
Account Rs 10000/- Rs. 25000/- Rs. 10000/- Rs 10000/-
opening cheque
Door step Rs. 30 per Rs 75 per Free No
banking request request

Place

Particulars Standard HSBC ABN Amro Citibank

chartered
Name of AXcess plus Power Vantage Flex account Suvidha
account account
Phone banking Yes Yes Yes Yes
Mobile banking No Yes Yes Yes
Net banking Yes Yes Yes Yes
No of ATM’s 25 14 18 70
in Delhi
No of branches 16 7 6 8
in delhi and
NCR
No of branches 74 41 24
in India
No of cities 30 10 13 31
covered
Doorstep Yes Yes Yes Yes
banking
 Promotion

Particulars Standard HSBC ABN Amro Citibank

chartered
Media used Radio Radio Newspaper Newspaper
Newspaper Newspaper Hoardings Hoardings
Hoardings Hoardings Television Television
Television Television Magazine Magazine
Magazine Magazine Internet Internet
Internet Internet
Punch line We go faster, World’s local Making more Citi never sleep
you go further bank possible
Use of color Light blue and Red Green Light and deep
green blue
 Process

Particulars Standard HSBC ABN Amro Citibank

chartered
Documents Indian Indian Indian Indian
required residence, PAN residence, PAN residence, PAN residence, PAN
card, voter ID, card, voter ID, card, voter ID, card, voter ID,
passport, passport, passport, passport,
driving license, driving license, driving license, driving license,
ration card, ration card, ration card, ration card,
passport size passport size passport size passport size
photo photo photo photo
Activation time 6-7 days 5-6 days 6-7 days 7 days
Initial cheque Rs 10000/- Rs 25000/- Rs 11000/- Rs 10000/-
On line facility Yes Yes Yes Yes
to open account
 People

Particulars Standard HSBC ABN Amro Citibank

chartered
Duration of 30 days 25 days 45 days 30 days
training
 Physical Evidence

Particulars Standard HSBC ABN Amro Citibank

chartered
Facilities Good location Good location Good location Good location
of building of building of building of building
Peaceful Peaceful Peaceful Peaceful
environment environment environment environment
Well parking Well parking Well parking Well parking
Guard for Guard for Guard for Guard for
safety safety safety safety
Well furnished Well furnished Well furnished Well furnished
furniture furniture furniture furniture
Air conditioned Air conditioned Air conditioned Air conditioned
office office office office
Well lighting Well lighting Well lighting Well lighting
No heavy No heavy No heavy No heavy queue
queue queue queue
Running screen
of fixed
deposits
 Chapter 7

Findings regarding SCB

Break of sample according to income group

Income group No of respondents

High 85
Middle 45
Low 20

Break up according to income

13%

High
Middle
30% 57%
Low

Out of 150 respondents 57% of them belong to high income group and 30% of
them belong to middle income group and only 13% of them belongs to low income
group. A large no of people who are opening an account with standard chartered bank
belongs to high income group.
 Breakup of sample according to their profession

Category No. of respondents

Service 50
Student 20
Businessman 65
Housewife 15

Break up of respondants

10% Service
33%
Student
Businessman
44%
13% Housewife

Also some what like 44% of the respondents are from business category, 33% from
service background, 13% students and 10% left belongs to the housewife category. This
graph clearly shows the most of the customer of banks are businessman and serviceman.
Students and house wives are emerging as new segments.

Number of respondents who use services of SCB

USED SERVICES OF STANDARD NO. OF RESPONDENTS
CHARTERED BANK
YES 52
NO 98

Respondants using SCB

35%
YES
NO
65%

out of 150 respondents only 35% have used services of SCB. This figure is very low as
compared to the others banks. This clearly shows that the market share of SCB is very
low.

Chapter 8

Analysis of Questioner
1. Services of which banks are you currently availing?

Banks No. of users

Standard Chartered 40
ABN Amro 14
Citi Bank 22
HSBC 22
Rest 52

No. of users

60 52
40
40
Users

22 22 No. of users
20 14

0
SCB ABN CITI HSBC REST
Banks

It clearly shows that other banks than the above mentioned MNC banks leads the way.
All other banks are way behind those banks. These banks have been for long time in India
and also coverage of all MNC bank in India is very small.
2. Which bank provides you the best banking experience?

Banks Good Experience Bad experience

Standard Chartered 25 3
ABN Amro 22 4
Citi Bank 25 4
HSBC 18 3
Others 44 2

B a n k in g E x p e r ie n c e

50
40
30
20 B a d e x p e r ie n c e
10 G o o d E x p e r ie n c e
0
S C B A B N C IT I H S B CR E S T
Banks

All the banks have done well as far as providing good banking experience is concerned.
Here again rest of the banks are leading as they have max. no of good experience and
least no. of dissatisfied customers.

3. Which factor influences your decision the most while availing the services of the
bank?
 S.No. Features No. of respondents
1 Location of the bank 48
2 Charges of the bank 20
3 Branch timings 30
S.No. Features No. of respondents
4 Goodwill of the bank 10
5 Facilities provided 12
6 Minimum balance 30

Influencing features
No. of respondents

60 48
40 30 30 No. of
20
20 10 12 respondents

0
1 2 3 4 5 6
Features

Location of the bank is the most cherished feature; goodwill of the bank is the most
unwanted feature. However branch timings and the minimum balance are equally
important features.

4. Which of the following services of the bank do you use?

S.No. Services No of respondents

1 ATM 124
2 Door step banking 12
 3 Internet banking 19
4 Multicity banking 42
5 24-hour banking 17

No. of respondents
No. of respondents

150 124

100
No. of
42 respondents
50 19 17
12
0
1 2 3 4 5
Services

Most used service is ATM. Internet banking; doorstep banking and 24- hour banking are
also coming up as new sought after services. Information technology has changed the
face of the banking. More and more people now want to avail the services of the banks
without actually visiting the branch. Internet banking is the next big thing coming up.

6. What is your perception about the services of Standard Chartered bank?

S.NO. SCB ranking No. of respondents

 1 Excellent 48
2 Very good 65
3 Average 18
4 Poor 5
5 Very poor 3

No. of respondents
No. of respondents

80 65
60 48
No. of
40
18 respondents
20 5 3
0
1 2 3 4 5
Attributes

In general people think that the standard Chartered bank is very good bank. Only 3
people think that the bank is very poor.

7. What do you suggest that the bank should improve upon?

S.No. Features Respondents

1 Door step banking 9
2 No. of ATMs 41
3 24 hour banking 4
4 Customer dealing 14
5 Internet banking 9
 6 No. of branches 58
7 Phone banking 14

Features on which bank should

improve

80
respondents

58
60 41
No. of

40 Respondents
9 14 9 14
20 4
0
1 2 3 4 5 6 7
features

The features that bank to improve upon are no. of ATMs and branches. However with the
advancing technology emerging in the field of banking are internet and phone banking.
SCB needs to improve in this segment.

8. Rank the following attributes of the Standard Chartered Bank.

S.No. Attributes Very good Good Neutral Not good Bad

1 Customer 47 61 23 15 4
care
2 Network of 0 30 42 10 20
branches
and ATMs
3 Personalized 06 19 07 05 0
services
 No. of respondents

Perception about important attributes

80
60 61
40 47 42
20 30 23 20
19 15
10 Series1
0 6
0 7 5 4
0
Series2

d
d

l
d

ra

ad
oo

oo
oo

ut Series3

B
g

tg
G

e
y

o
er

N
V

Perception

The above graph shows that the perception of people about customer care and
personalized services of the SCB are more concentrated towards left side that is more
towards very good and good side. However it clearly shows that respondents are nutral or
less satisfied about the network of branches and ATMs. SCB should do some thing in this
regard as to bring this curve on the left side as well.

9. Which services of the Standard Chartered bank are you aware of?

S.No. Services No. of respondents

1 ATM 71
2 Door step banking 9
3 Internet banking 30
4 24 hour banking 11
5 365 days banking 13
6 Credit card 16
 Known services of SCB
No. of respondents 71
80
60
40 30 Respondents
11 13 16
20 9
0
1 2 3 4 5 6
Services

most of the respondents have very less knowledge about the services of SCB. SCB
provides some of the most distinguished services like 24 hours and 365 days banking, but
it is found that very few people knew about these services.

10. Why have you not opened an account with Standard Chartered bank?

S.No. Services No. of respondents

1 Location of branches 51
2 Facilities provided 7
3 Charges of bank 41
4 Goodwill of bank 4
5 Customer care 8
6 Minimum balance 39
 factors against SCB
No. of respondents
60 51
41 39
40
Respondents
20 7 8
4
0
1 2 3 4 5 6
Factors

The graph above shows that the major factors against the SCB are location of branches,
charges of bank and minimum balance requirements.
 Chapter 9

RECOMMENDATIONS

STRONG NEED OF BRAND BUILDING

The bank needs to make a lot of marketing effort. The level of recognition that may be
desired by any brand has not been achieved by standard chartered bank. As said earlier it
is relationship of trust and this trust can be generated through better and better
performance of the bank.

CORRECTIVE POSITIONING OF STANDARD CHARTERED BANK

The bank has to do corrective positioning of its brand. Most of the people think it to be
expensive bank. Being an MNC bank it is expensive than private banks so for this the
bank has to develop a distinctive advertising campaign to reposition the brand in potential
consumer’s mind.

PROMOTIONAL STRATEGIES

Press publicity:

Paper inserts

Advertisements in newspapers (local and national)

Outdoor publicity:

Banners in commercial areas and prime cities

Off site ATM for developing business

Media:

Sending e-mails to various people about its product and offers.

Local channel advertisement (cable TV scrolls)

Advertisements in news channels, business channels, and radio.

Event sponsoring in local clubs and social gathering.

Commercial places and market establishments:

Cold calling

Personal visits by executives.

SOLID NETWORK REQUIRED TO DEVELOP THE BUSINESS FURTHER

Generally people prefer strong networking system to make their banking life as
comfortable and reachable as possible. For standard chartered bank to enjoy a good
customer base they should make efforts towards developing more and more ATM’s in the
city and extension counters to facilitate better and fast service. Standard Chartered bank
was the very first bank to start few of the very good services like internet banking;
bringing about new service to attract more customers and it should carry on this tradition
further.

PRICING STRATEGY

Standard chartered bank should lower down minimum balance requirement limit to grab
a larger share of market. There are many customers who would like to maintain an
account with standard chartered once its minimum balance is lower down. It will also
place standard chartered competitively against private banks that are grabbing a big
chunk in total market.
MAKE THE BRANCH SELF INFORMATIVE

The branch should be decorated in a manner, which would provide maximum information
to the customers without any difficulty. All the schemes and products, all the schemes
and service charges, days and time of transactions should be printed in a beautiful manner
and hanged on the walls of the branch where customers can see with ease. These were the
things that were found to be absent in the branch. By doing so the customer would feel
more attached and it would result in higher number of accounts.

CUSTOMER GRIEVANCE HANDLING AND FEEDBACK

Lot of improvements can be done in standard chartered customer care cell. Bank should
arrange for regular appraisal and feedback for customers through effective means of
better communication with customer and to add to their satisfaction.

SPECIAL OFFERS FOR WOMEN AND CHILDREN

The bank should come up with new offers, which are specially designed for women and
children. Already some private and MNC banks have come up with this kind of offers.
Women today are independent and also represent a big market in metros and other big
cities. The bank should take initiative in this direction as soon as possible. They can also
start some accounts for youngsters mostly students.
 Chapter 10

SWOT Analysis of Standard Chartered Bank

Strengths

• Strong market position

• Aggressive foreign bank
• Shareholder’s return had grown more then 7 times.
• Maintains a position as a leading Asian cash management provider
• Brand SCB
• One of the most profitable MNC in India
• Improved product proposition
• Multi culture organization
Weakness

• Service delivery perception is week

• Fewer locations as compared to other MNC banks
• Product mix is not up to the mark

Opportunities

• Banking sector is one of the fastest growing sectors

• Branch expansion for rapid growth
• Increase focus on value creation in whole banking
• Improved shareholder’s return
• Built market share in consumer banking
• Broadening of demographic base
• Tie up with master card networks
• Integrated sales and service approach

Threats

• Other upcoming banks are pitching quite aggressively

• Competitive products are being offered by other banks
 Chapter 11

CONCLUSION

The project report has been very transparent and decisive to conclude. With all certainty
it can be concluded that standard chartered bank has yet to come to their market
expectations but is moving consistently and aggressively with a very strong service and
facility base. The services which standard chartered is providing is quite improvised and
better in comparison to the other bank’s services. Standard chartered has the largest
coverage as compared to the other MNC bank’s in India. As standard chartered is present
in India for longer time than any other MNC bank in India, it has an edge of knowing
Indian customers in a better way.
The marketing mix of standard chartered is very well designed and thought of. Even for
surviving with other MNC bank’s in India it has to make its branch networking more
sprawling and penetrative by its needs.

Chapter 12

Bibliography

1. Following web sites were visited to collect the relevant data

• www.abnamro.com
• www.hsbc.com
• www.citibank.com
• www.standardcharterd.com
• www.google.com

2. Broachers of following banks has been used

• HSBC Bank
 • Citi Bank
• ABN Ambro
• Standard Chartered Bank

3. Annual reports of Standard Chartered Bank

Annexure
 Questionnaire

1. Services of which banks are you currently availing?

• Standard Chartered
• ABN Amro
• Citi Bank
• HSBC Bank
• Rest

2. Which bank provides you the best banking experience?

• Standard Chartered
 • ABN Amro
• Citi Bank
• HSBC Bank
• Rest

3. Which factor influences your decision the most while availing the services of the bank?

• Location of the bank

• Charges of the bank
• Branch timings
• Features
• Goodwill of the bank
• Facilities provided
• Minimum balance

4. Which of the following services of the bank do you use?

• ATM
• Door step banking
• Internet banking
• Multicity banking
• 24-hour banking

5. Have you ever used the services of Standard Chartered Bank?

• Yes (go to question 6)

• No (go to question 9)

6. What is your perception about the services of Standard Chartered bank?

 • Excellent
• Very good
• Average
• Poor
• Very poor

7. What do you suggest that the bank should improve upon?

• Door step banking

• No. of ATMs
• 24 hour banking
• Customer dealing
• Internet banking
• No. of branches
• Phone banking

8. Rank the following attributes of the Standard Chartered Bank

Attributes Very good Good Neutral Not good Bad

Customer
care
Network of
branches
and ATMs
Personalized
services

9. Which services (of the following) of Standard Chartered bank are you aware of?

• ATM
• Door step banking
 • Internet banking
• 24 hour banking
• 365 days banking
• Credit card

10. Why have you not opened an account with Standard Chartered bank?

• Location of branches
• Facilities provided
• Charges of bank
• Goodwill of bank
• Customer care
• Minimum balance