|About the Book|
The management literature on Marketing is very rich. The same cannot be said about ‘Bank Marketing’ in particular. This book is meant to enter and enrich that space. It brings to life the principles and practices of ‘marketing’ in the context ofMoreThe management literature on Marketing is very rich. The same cannot be said about ‘Bank Marketing’ in particular. This book is meant to enter and enrich that space. It brings to life the principles and practices of ‘marketing’ in the context of banking industry. Its central emphasis has been on the retail banking industry in India.Proceeding from the very basics of ‘marketing’ which are universal in nature, the book discusses the special ways in which key concepts like marketing plans, market segmentation, marketing mix, product life cycle, product line, competitive differentiation, product development, branding etc, as have been implemented in the banking industry. Numerous real life examples from a number of banks described in a simple, pacey language take away the rigours normally associated with an academic subject and make the book an enjoyable ‘read’.In keeping with the rapidly rising role of technology in the industry, the book has extensively dealt with technology banking including online banking. It has identified the various issues and challenges that impinge on optimum utilisation of self-service channels and deciding upon one’s own channel architecture.Simultaneous with the development of alternate channels, banks today, for goods reasons, have, once again, become busy in rediscovering the virtues of ‘branches’ and therefore, are ‘reconfiguring’ them. The book has dealt this topic with in interesting ways.In a rapidly changing industry, the prognosis of the future is critical for banks. The bank seeks to crystal gaze into the future rationally based on objective facts. This book has also hoisted interesting, creative ideas which banks across the world can make use of profitably.India’s rapid economic growth and its huge potential as a retail banking destination has begun to engage the attention of banks worldwide. It has not escaped their notice how China’s astounding economic growth over last decade or so, at once catapulted several Chinese Banks to the centre stage of World’s banking community. In India, interestingly, forty-plus foreign banks of various descriptions, including, more than a dozen top-ranked banks in the world co-exist with few dozens of domestic mainstream commercial banks, which were for long inward looking, but have now begun to assert themselves. The book gives a fascinating narrative of their co-existence, co-operation and competition. In more ways than one, the book while focusing on the ‘local’, brings to the reader the ‘global’ flavour as well, by placing its contents on a wide canvas.It may be said that the book is not only a ‘must read’ but also a ‘compelling read’ for a wide spectrum of readers. They would include banks, bank officials, management colleges & students, universities and of course general readers, all of whom are connected to banks, some way or the other.