PROJECT ON MARKETING OF

CENTRAL BANKHDFC STANDARD LIFE INSURANCE

SHRI CHNAI COLLEGE OF COMMERCE & ECONOMICS

GROUP NO.9

NAME ROLL NO

JIGNA.SALVA 52

HARSHITHA .UCHIL 50

BHAVYA.ACHARYA 1

TANVI.BHATT 3

RUCHITA.TRIVEDI 49

GROUP MEMBERS

SUBMITTED TO:

PROF.SANSKRITI JAIN METHA

CENTRAL BANK OF INDIA

INTRODUCTION

Established in 1911, founded by Sir Sorabji Pochkhanawala.

The first Indian commercial bank which was wholly owned and managed by Indians.

During the past 99 years of history the Bank has weathered many storms and faced many challenges.

The Bank could successfully transform every threat into business opportunity and excelled over its peers in the Banking industry.

Central bank of India lives on peoples on people's faith and regards itself as the people's own bank‘ as said by Sir Sorabji Pochkhanawala.

MARKETING MIX Marketing mix is the;

Process of planning and executing the conception of pricing. Promotion and distribution of goods and services to create

exchanges that satisfy customers.

It is the prime responsibility of the bank professional .

Based on their expertise and excellence attempt to market the services and schemes profitably.

7P’S of marketing are; Product Price Promotion Place and physical evidence Process People

PRODUCT

DEPOSITS

a. Money Multiplier Deposit Certificate (MMDC)b. Money Multiplier Deposit Certificate (MMDC)c. Cent Uttam Schemed. Other Special Savings Accounts

CARDS

a. Central card Electronicsb. Central cardc. Debit Card

LOANS

a. Housing Loansb. Home Renovation Loanc. Computer Loand. Personal Loan (Corporate and Non-Corporate)e. Education Loansf. Special Educational Loansg. Finance For Tradeh. Car Loansi. Loans For Commercial Vehiclesj. Agricultural Loansk. Personal Loans For Pensioners And Teachers

OTHER SERVICES

a. Traveler's Cheques

b. Gift Cheques

c. Cash Management Services

d. Cent Bill Pay

e. Special Services

INTERNATIONAL BANKING

a. NRI Banking

b. Other Specialized Services

o Every product is measured up to technical standards.

o Central Bank of India has:

Technical perfection in service Prompt delivery Quick disposal Presentation of right facts and figures Right filing proper documentation

DESIGNING AN ATTRACTIVE PACKAGE

Manager is familiar with the package developed package by the leading competitive banks since this would help them in innovation.

PRODUCT DEVELOPMENT

Development is done by Combining Modifying Magnifying

TYPES OF PRODUCT DEVELOPMENT

a. Proactive The needs of the target market are

anticipated and highlighted.

b. Reactive The bank respond to the expressed needs

of the target.

PROMOTION

Advertising

Central Bank of India campaign revolving around the famous Panchatantra Tales with a refreshing twist.

• The first TVC is called ‘The Race’• The second TVC, titled ‘The Trap’

Both TVCs are in 3D animation and saw the involvement of over 50 production and animation professionals.

Press Releases

• On 7th August 2010, launch of regional sms alerts.• On 29th July 2010, opens Ulhasnagar Camp No.4 Branch. Net Profit Rises by 26.22%. Retail Banking: Centralized Credit Processing Centre for Retail Credit operational in 15 centers. New Products Launched: Reverse Mortgage Loan enabled Annuity

(RMLeA)

Website www.centralbankofindia.co.in Word-of-Mouth Promotion

• Hidden sales force plays an incremental role in increasing the demand.

• Professionals make it sure that the promised services reach to the ultimate users.

• The word-of-mouth promoters are offered small but new incentives.

* Mr. A is highly aware of the development* Mr. B is not aware.

PRICE

Rate of interest is regulated by the RBI. Other charges are controlled by the Indian Banking

Association.

It is essential that both the buyers as well as the sellers have a feeling of winning.

Interest rates provided:

AMOUNT RATE OF INTREST

15 Lakhs 2.50% - 7.50%

15 Lakhs to 1 Crore 2.50% - 7.25%

1 Crore 2.50% - 6.00%

PLACE AND PHYSICAL DISTRIBUTION

Distribution of its large network in 27 out of 28 States. 4 out of 7 Union Territories. 3563 branches and more than 250 extension counters

nationwide. Headquarters of the bank – Mumbai 16 other zonal offices established in different cities of the

nation. online branch and ATM locator is also available.

PROCESS

Steps involved in Process:

1. To acquaint about product to the customer which can be said as product conception stage.

2. Know the customers requirement &then has to provide him with product accordingly.

3. Customers has to fills the application form wherein personal details, proofs are attached & then the account is opened.

4. It involves all the activities of the banking services from the product conception stage till its marketing.

PEOPLE

Shri S. SridharChairman & Managing Director

Shri Ramnath PradeepExecutive Director

Shri Arun Kaul Executive Director

HDFC STANDARD LIFE INSURANCE

INTRODUCTION

Since its inception in 1977 assisted more than 3.4 million families across 2400 cities and towns through its network of over 271 offices.

Customer Service and satisfaction has been the mainstay of the organization.

JOINT VENTURE:

The first companies to be granted license by the IRDA to operate in life insurance sector.

It is a joint venture between Housing Development Finance Corporation Limited (HDFC Ltd.) India and UK based Standard Life Company.

It was incorporated on 14th august 2000.

MARKETING MIX

INGREDIENTS OF MARKETING MIX

Product

Price Place Promotion People

Place andPhysical evidence

Marketing Mix

Ingredients of Marketing Mix

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PRODUCTS

The company currently has 25 retail and 6 group products in its portfolio.

1. Group Plan

2. Protection Plan

3. Children Plan

4. Retirement Plan

5. Savings and Investment Plans

6. Health Plans

7. Rural Plan

PRICE

Premium Calculations: Step 1: Premium is usually stated as Rs. per thousand

SA. (Sum Assured) Step 2: Deduct adjustment for large S.A if applicable. Step 3: Make adjustment for mode of payment of

premium. Step 4: Add Extras. Step 5: Multiply by SA.

Income Tax Benefits:i. Income tax does not have to be paid on policy claimed

and surrender amount.ii. The premium being not more than 20% of the SA on

any policy during any year.

PROMOTION

Focus on Training:

• Training is an integral part of their business strategy. • To enhance their technical skills or the softer behavioral skills to be able

to deliver the service. Advertisement:

• ‘Sar Utha Ke Jiyo’, first TV Advertising Campaign on 17 th January 2005.

• It was honoured as ‘Among India’s 60 Glorious Advertising Moments. • It was ranked 6th amongst ‘The 10 most effective Advertisements’ in

September 2007.• 2 silver and 1 bronze awards at the ADFEST 2007 National Awards by

Advertising Agencies Association of India (AAAI).• 3 awards are the highest won by any single brand in the financial services

business.

Website: • Launch of website in 2000 - www.hdfcinsurance.com

PROCESS

Need-Based Selling Approach:• Eight-step structured sales process ‘Disha’, helps

customers understand their latent needs at the first instance.

Transparent Dealing:• Clearly communicated to help customers take the

right decision.

Strict Compliance with Regulations: • Agents who successfully completed this training only,

are authorized by IRDA to sell ULIPs.

PEOPLE

• Mr. Deepak M Satwalekar is the Managing Director and CEO since November 2000.

• Mr. Amitabh Chaudhry - Managing Director and Chief Executive Officer.

• Mr. Paresh Parasnis is the Executive Director and Chief Operating Officer.

• Ms. Vibha Padalkar is the Chief Financial Officer.• Mr. Ashley Rebello is the Chief Actuary and Appointed

Actuary.• Mr. Vikram Mehta heads the Sales and Marketing.• Mr. Prasun Gajri is the Chief Investment Officer.

Company has a strong presence in its existing markets with a base of 2,00,000 Financial Consultants.

PLACE AND PHYSICAL EVIDENCE

• 568 branches servicing customer needs in over 700 cities and towns.

• First branch opened in Churchgate on 1st November 2000.

• Corporate head office is in Mumbai.

Contact Address:

HDFC Standard Life Insurance Co. Ltd.'Trade Star', 2nd floor, 'A' Wing Junction of Kondivita and M.V. Road Andheri-Kurla Road Andheri (East), Mumbai - 400059

CONCLUSION Usually all persons want money for personal and

commercial purposes. Central Bank of India is the oldest lending institutions in Indian scenario. They are providing all facilities to all customers for their own purposes by their terms. They introduce new innovative ideas, strategies, and advanced technologies. For that they give each and every

minute detail about their institution and projects to Public. As a life insurance company, HDFC standard life insurance understand that customers have invested their savings with them for the long term, with specific objectives in mind. Thus, their investment focus is based on the primary objective of protecting and generating good, consistent, and stable investment returns to match the investor’s long-term objective and return expectations, irrespective of the market condition.

THANK YOU