Training Day13

Objectives: To understand and estimate the latent demand of the product, and understand consumer perspective of existing brands.

Questionnaire: In the process

Field work: 26days, starts 5th May

My product???

Wait till it gets over...

Training - Day1

13th April 2009

I woke up early today, as I had planned and made the Rules and Regulations, to be followed very strictly, "chahe kuch ho jaye". It will help to maintain my focus and also keep me aware of what is necessary and what is important.

The following are the things to be done today:

1. Estimation and division of time into, pre-field work, field work and post-field work.

2. Preperation of work in s/w Project Management.

3. Review of Managerial brief and operational definitions.

4. Discussion with other team members and the Manager.

5.

If there are any additions, I'll make them later, but for now, these are the targets of the day.

There's one thing I'll have to remember, to keep things SIMPLE.

ALL THE BEST TO ME!!!!

:)

Global Warning!!! What are you doing about it?

Its about "us", its definitely about all of us, and till each one of us doesn't care to do our bit towards this threat, things will never improve.

Global warming is no new to any of us computer smitten people, we read about it, hear about it, even talk about it, but how much do we actually feel like doing something about it.

Okay, if you say how you can help, here's a small list, a very simple one:

1. Switch off your charger (laptop, cell phone, any), when not in use, it generates heat.

In fact, I fully charge my lappy and then switch it off, increases its battery life as well :)

2. Switch off the lights when you dnt need em.

Lot of us, take these aminities for granted. But they didnt just pop up in our lives, we are paying a price to get it, burning fossil fuels, and in turn harming environment. Also, our consumption levels are increasing every year with increase in population. So, a small change from you can change a lot.

3. Use natural light at daytime. 

Think and ponder over this..what kind of an architecture is this, which blocks sunlight and compels you to switch "on" a light even in daytime???

4. Every drop is important, save water, dnt waste it.

We are already a water scarse country, on top of that in a few years, with increase in consumption levels, you never know you may even get to have this much water. If you can't save it, atleast dnt waste it!!!!

A Water War is predicted!!!!!!!!!!!!!!!!!!!!

5. Don't pollute the environment.

(a) we use Plastics

(b) We throw it on the road, or anywhere we feel like, afterall its NOT our property, who cares, we are not responsible to clean it, so we wnt.

Such adament and ediots need a thrashing, according to me. Who are SO proud of their work.

Oh yeah! Next time, I request others, to kindly throw all their garbage in their homes and be happy, coz its not our job to clean it. Its their home, let them care!!

And its not only about Plastics, its about all the garbage we throw on road. No respect for your self and no respect for you Country at all!!!!

Of course, you dnt have any self respect. A country is because of its people and not vice versa. 

Ofcourse you've heard all this gyaan before, right?!

But if only you cared enough to think about it.

Rather than whining later, do something today.

Is it something too unusual to do?????

Or, YOU have become far too insensitive?? You like going to hill stations, because its cooler and beautiful. But how will that beauty last, if everyone only pollutes it, and noon cares to NOT do it, if they cant clean it!!!!???

Do you have any answer.....

I have one.

Stop thinking, Start doing.................

A table of t-bill..

General calculation for yield on T-Bill..

Treasury Bills India

• Treasury Bills are short term (up to one year) borrowing instruments of the Government of India which enable investors to park their short term surplus funds while reducing their market risk. • They are auctioned by Reserve Bank of India at regular intervals and issued at a discount to face value. On maturity the face value is paid to the holder.  • The rate of discount and the corresponding issue prices are determined at each auction. When liquidity is tight in the economy, returns on Treasury Bills sometimes become even higher than returns on bank deposits of similar maturity.  • Any person in India including Individuals, Firms, Companies, Corporate bodies, Trusts and Institutions can purchase Treasury Bills. Treasury Bills are eligible securities for SLR purposes. • Treasury Bills are available for a minimum amount of Rs.25,000 and in multiples of Rs. 25,000 thereafter. They are available in both Primary and Secondary market. • Treasury Bills are issued in the form of SGL - entries in the books of Reserve Bank of India to hold the securities on behalf of the holder. The SGL holdings can be transferred by issuing a SGL transfer form • Recently Treasury Bills are also being issued frequently under the Market Stabilization Scheme (MSS). Type of Treasury Bills: At present, RBI issues T-Bills for three different maturities: 91 days, 182 days and 364 days. The 91 day T-Bills are issued on weekly auction basis while 182 day T-Bill auction is held on Wednesday preceding non-reporting Friday and 364 day T-Bill auction on Wednesday preceding the reporting Friday Advantages of investing in Treasury Bills: • No Tax Deducted at Source (TDS) • Zero default risk as these are the liabilities of GOI • Liquid money Market Instrument • Active secondary market thereby enabling holder to meet immediate fund requirement. SBI DFHI Ltd, is an active player in the both the primary and the secondary market for Treasury Bills with an impressive turnover of Rs.5428 crores.

Marketing of Banking Services

This semester we have a subject called "Banking". Yes, just that..

It means, everything in banking: its products, its operations, its marketing and bla bla...

Yet, when we were told to present on the topic mentioned above "marketing of...." I was not sure how it would come out, as this topic in itself was very less talked about.

We knew the services, but as individuals never concentrated on the marketing of those services and wide variety of products offered...

Well, what does marketing consists of, and that too of banking produts/services??

It was a challenge, a good one ofcourse, coz it added to out insights. The following are a few perspectives of ppl in the business: (excluding me, coz im yet to be there...but ofcourse)

Brand Activation Manager at Tapal Tea (Pvt) Ltd: Well from the perspective of Pakistani Banking sector, there has been a significant shift to marketing consumer products almost using all the major advertising mediums. this is just not limited to ATL but BTL and on ground activations are rapidly picking which is leading to experience based consumer marketing. 

whats new? well what i have observed recently is experience for the consumer. an e.g of which i recentky saw in a consumer exhibition here, where the bank was promote its car financing but at the same time to engage the attention of the consumers a car based game on computer was there to create a relevancy of the product, so it was not just about handing brocuhers and giving sales pitch, an experience platform was there that i think really worked for them to engage the consumer and put the message across. 

Here banks are ddefinitely shifting towrd barnd activations, despite the fact the it is still on a smal scale. 

Nationwide CDL A Experiential Mobile Tour Manager/with a United States Passport: As you both have stated banks are going directly to the consumers. I executed a promotion recently for a bank, they gave out coupons for a cup of coffee it was an awesome campaign and it was launched nationwide on one day. It was exciting. I have also seen financial institutions at various venues where I have been executing promotions for other companies. There is also a shift to bring these types of activities (branding, promotions) in house. Union Bank has such a position open now. 

I recently received a bulk mailing from a financial institution offering $100.00 for a new account. 

If anything I think in a few months everyone is going to realize they have to focus on their marketing budget and increase it to get consumers/customers they need to stay afloat. 

No visibility = no new consumers/customers. 

Long live experiential marketing! 

Deputy Manager - Marketing Services at Tata Housing Development Co. Ltd.

In lest few years there is a surprising change the way bank used to potray themselves. Now they have become more aggressive and offering various services like need specific accounts, credit cards, phone banking, net banking, insurance, loans, invenstment products and what not. 

If we look at traditional media options to sell these products, i think that will always remain on top of the list but then what else... well looking at options of tie-ups with schools / colleges for educational loans, real estate agents for home loans, restaurents / malls / multiplexes for credit cards, NGOs for FDs and investment products. What i feel these are people are the influencers and play an important role in future planning in respective areas. 

Today if an student wish to go for higher studies to whom will he approach first for guidance - his teacher / principal and if they update him on educational loan facility from banks i feel it would be surely be a good approach. Similarly for other banking products. 

I have noticed banks offering credit cards to post paid mobile customers (a way to help them in paying their bills hassle free using their IVR services and credit card), to travellers in Delhi Metro (to induce their purchasing power), Investment products to savings bank account holders (to shift their money from savings to investments for better interest rates), FDs to senior citizens etc.

Creative Director at The ADAM Group: One sure fire way that I'm particularly familiar with is direct mail. It may seem like an average thing to do but demographic modeling has really taken financial service direct marketing to another level from, say, a decade ago. With the right product/demographic alignment, it's very effective.

Senior Marketing Consultant at Marketing Lexicons: It varies from the retail to commercial sides of the bank. Today it's all abpout deposits and focusing on products that drive deposits. Online is the way to go. direct, blog, email, podcast, video get the folks with the actual deposits the banks want. 

In the commercial space integrated product marketing -presenting a set of solutions and positioning a bundle - vs a la cart sales isn't necessarily new, but it is effective. I'm building out a tactical plan for one of the top players now. 

 

Brand-manager at SEB:  Way of "marketing" of banking products depends on country and level of its development. For example, 80% of operations in Baltic countries are done via internet, but there is absolutely opposite situation in Ukraine. So, the ways are differ. 

As far as i know rather popular and effective are different co-branding projects with big trade networks (electronics, cosmetics etc.) which include bonus programs; saving programs which banks offer when you pay with credit card: your exchange goes to your deposit account. 
Very important issue is cooperation with young adults (BTL, sponsorship, guerilla and so on).

-----------------------------------------------------------------------------------------------------------------------------------------------------

Now its my turn....

Adding in a few things which I got to know: 
1. Marketing through events organisation, where rallies are organised and proper shows and information about speicalised products are offered, which otherwise are not there. These products are more like offers or gifts. 
2. Use of internet or vitual space, like ICICI's new virtual banking concept called I-ZONE. 
3. Indirrect marketing, by proving basic info on banking services and how to effeciently use them. Like, SME(small and medium enterprises) Dialogue in ET.

These are some of the ways which I got through to. Customer loyality/retention is becoming one of the main aims. However one thing has stuck me: The market is down, the people afraid to go in and invest, in bonds etc. How are the banks going to flip this through marketing strategies?? 
And what else is new?? I'm all eager to know!!

But yes, it is also true that marketing tools like:

1. PR

2. Avertising

3. Personal Selling

4. Sales Promotion

5. Branding

6. Cross Selling

7. Incentives and Gifts

and so on.....

are and will remain effective as well as effecient tools..

Clearly, this presentation had made me see the gaps, the gaps which need to be filled. Some new innovative ideas...something to trigger the whole banking industry..

The insect in me is bugging me now...

haha...

:)

The power of I

I am only gettin awed and awed by those, who not only bring in the right ideas, but implement them at the very right time.

Look at the "Power oF Ideas" introduced by ET just today.

Its recession time, people dnt have jobs, the new  just passed out MBA's are diverting towards Entrepreneuship, and ET comes up with this...

BANG!!

They've definitely hit the "Bull's Eye"

Probably I'll send an idea too.. lets see how things turn up.

My fingers are crossed!!!!!

News in the Room..

1. HUL brings project "Shakti" to the global platform.

Project Shakti is a project started by it to not only empower women to self-suffeciency, but also in the way reach the roots of the rural population, through a low-cost business model. Now, efforts are also being made to introduce the same, in countries like Vietnam, SriLanka, Bangladesh and other emerging markets, where it can be customised accounding to their environment.

2. Public Holding to increase from 10% to 25%

The government’s reading is that a large public shareholding would serve as a check on managements 

According to stock exchange data, on an average, public holding in a company is just 13% 
One option is to redefine the term public and ensure that 25% is exclusively reserved for the public 
The main concern with low public holding is that the number of shares for trading is low, causing volatility 
The government does not want to wait for the markets to enter a bull phase to implement the proposal 
The UK has a minimum 25% public holding requirement for companies with market cap of less than £100 m

The global impact through USA..

The efforts of new president Obama, to help the economy of US "the Stimulus Bill" may be one of the first steps towards his responsibilities. 
Some say, the bill amount though amounting to $825 billion is an “undershoot”, while others say that it will be helpful to put the economy back on tracks. 
The Republicans are not happy with the change in tilt of the stimulus bill towards spending from tax cuts. 
Another point of view is that the bill will help in reviving the trade of US goods, however the risk of trade war is also there if the government tends to motivate the domestic players. 
Fixing the biggest economy will have global implications, but how hard or soft only time can tell!!