Bank Marketing

Channeling the scattered savings to productive uses and providing mobility to more than eighty percent of funds flowing through the financial sector, the banking industry assumes a place of prime importance in it. Further, there is a casual link between access to bank credit and growth. So, banks plays an important role in the economic development of the country. But in the wake of liberalization and globalization there has been a sea change in the banking in India. Lowering of entry barriers has witnessed influx of modern technology through foreign and new private sector banks, which in turn has metamorphosed the delivery of banking services, thereby elevating the level of expectation of the customers. Banks no more have their old arrogant self. Sandwiched between the fierce competition in one side and obligation to maintain prudential norms to match the international standards and market discipline on the other, banks have virtually been forced to fight for their own slice of the market. Under the circumstances they had no alternative left but to break the shackles of their cozy offices and come down to the street to run after the customer. Marketing has become a new ‘mantra’ for the bankers. In the above context, this book, a research work on the marketing of services by commercial banks, which studies various aspects of traditional external marketing, internal marketing and interactive marketing by banks and comes out with few lively suggestions to improve them will be of much use to the students and teachers of marketing in general and bankers in particular.