Customer Perception of Home Loan Products - SBI
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Customer Perception of Home Loan Products - SBI
- 1. A Project Presentation on “Customer Perception of Home Loan Product of State Bank of India “ 16-Sep-2013 Presented by P Sunil Kumar (A13020) Ashish Ranjan (A13004) Vaibhav Jain (A13021) Maruthi Nataraj K (A12009)
- 2. AGENDA • History and Evolution of SBI • Positioning of SBI • Advertising and Sales promotion • Market Segmentation • SBI Home Loan product • Competitive strategies adopted by SBI • Distribution Strategy of SBI • Analysis and Inference • Recommendations • Future directions for SBI
- 3. HISTORY AND EVOLUTION OF SBI • Amalgamation of Presidency Banks on 27-Jan-1921 • Nationalization of Imperial Bank of India on 1955 • Birth of State Bank of India • State Bank of India (Subsidiary Banks) Act, 1959 • Logo of SBI • Slogan – The Bank to Every Indian • Mission Statement • Vision Statement
- 4. HISTORY AND EVOLUTION OF SBI Structure – Current Board of Directors As on 14 January 2013, there are fifteen members in the SBI board of directors:• Pratip Chaudhuri (Chairman) • Hemant G. Contractor (Managing Director) • Arundhati Bhattacharya (Managing Director) • A. Krishna Kumar (Managing Director) • S. Visvanathan (Managing Director) • S. Venkatachalam (Director) • D. Sundaram (Director) • * Thomas Mathew (Director) • S.K. Mukherjee (Officer Employee Director) • Rajiv Kumar (Director) • Jyoti Bhushan Mohapatra (Workmen Employee Director) • Deepak Amin (Director)
- 5. HISTORY AND EVOLUTION OF SBI
- 6. POSITIONING OF SBI • SBI as centuries-old brand • Emphasis on Pure Banking • Entry into many businesses with strategic tie ups - Pension Funds - General Insurance - Mobile Banking etc
- 7. ADVERTISING AND SALES PROMOTION ADVERTISING • Participation in various consumer exhibition and meetings • Tie-ups with builders / car and other vehicle dealer • Festive loan products • Advertising in TV and Newspapers • Oral Marketing • Ads at various display boards • CSR Initiatives • Social Media
- 8. ADVERTISING AND SALES PROMOTION SALES PROMOTION • Loyalty Rewards Program – Online Banking • SBI Cards – Cash Back Offers
- 9. MARKET SEGMENTATION • Geographic Segmentation - Metro, Urban, Semi Urban and Rural branches • Psychographic (social class/lifestyle) Segmentation
- 10. MARKET SEGMENTATION • Demographic Segmentation
- 11. MARKET SEGMENTATION • Segmentation on the basis of wholesale market
- 12. SBI HOME LOAN PRODUCT • SBI Home Loan - SBI Easy Home Loan for Loan <= 30L - SBI Advantage Home Loan for Loan > 30L • Features • Purpose • Eligibility • Amount - 40 to 60 times of NMI • Other variants
- 13. COMPETITIVE STRATEGIES ADOPTED BY SBI Porter’s five forces model for SBI
- 14. COMPETITIVE STRATEGIES ADOPTED BY SBI SBI SWOT Analysis
- 15. COMPETITIVE STRATEGIES ADOPTED BY SBI SBI SWOT Analysis • IT Plan by KPMG (consultant) - 2001 • Business Process Reengineering – 2004 • BaNCS (core banking software) by TCS • Effective training methodology - National level Apex Training Institutes - State level learning centers - Case studies, Group Discussions, Project Work etc - E-learning for enhancement of employees’ skills
- 16. DISTRIBUTION STRATEGY OF SBI SBI SWOT Analysis • Branches • ATMs • Internet banking • Mobile banking • POS • Kiosk banking
- 17. ANALYSIS AND INFERENCE • List of Hypothesis to be tested - H1: All the features of SBI Home Loan including interest rates are in public domain making it the most preferred Home Loan provider. - H2: SBI offers customer centric services pre and post disbursal of home loan. - H3: TV and Newspaper advertisements are important sources of awareness on SBI Home Loan. • Sampling plan and Sampling Size - Sample Size - 63 - Sample plan - Random Sampling Plan
- 39. • Features RECOMMENDATIONS • Try to ease the documentation burden on the customer (within the regulatory framework) • Focus more on process automation for efficient Home Loan sanction procedure and reduced TAT • Customer Service •Provide essential training for employees to be more responsive organization in terms of customer service • Advertisements • Come up more creative and innovative ways to advertise Home Loan product in TV and Newspapers • Create more awareness on Home customers Loan variants among potential
- 40. FUTURE DIRECTIONS FOR SBI • Go closer to people further more as banking habit spreads (Reach masses with customized products) • Sustain customer loyalty • Give better value to customers on deposit side too • Take corrective measures to ensure % of bad loans is below the industry average • Make mobile banking more popular • Think strategically on Data mining/CRM based campaigns.
- 41. BIBLIOGRAPHY • http://www.sarkaritel.com/state-bank-of-indias-csr-initiatives/ •https://www.onlinesbi.com/osbi_loyalty_pts_faq.html •http://epaper.timesofindia.com/Default/Scripting/ArticleWin.asp?From=Archive&Skin=ETNEW&BaseHref=ETM%2F •http://en.wikipedia.org/wiki/State_Bank_of_India •http://exclusivecoins.blogspot.in/2011/06/23celebrating-two-hundred-years-of.html •http://www.deal4loans.com/sbi-home-loan.php •http://www.goodreturns.in/personal-finance/investment/2013/06/sbi-home-loans-3-reasons-opt-them182830.html •http://www.goodreturns.in/personal-finance/planning/2013/03/comparison-the-cheapest-home-loanrates-in-india-164789.html •SBI_ANALYST_PRESENTATION_FY13 Report •Retail Banking : Challenges Ahead in Distribution Channels in Urban/Rural India* - RBI Bulletin •STATE BANK OF INDIA: BATTLING FOR SHARE (Case) •http://www.it-director.com/business/content.php?cid=7081 •Customer segmentation in retail banking- Adkit Research •http://www.sas.com/knowledge-exchange/customer-intelligence/author/davidwallace •http://www.marketing91.com/swot-analysis-sbi/ •http://marketingpractice.blogspot.in/2007/04/brand-update-sbi.html •Retail banking Strategies for the future – Mrs Soundara Kumar (SBI) •http://economictimes.indiatimes.com/state-bank-of-india/shareholding/companyid-11984.cms •http://conclave.intoday.in/conclave/includes/sponsors/sbi-2010.html •Self Marketing – Breaking Dawn of SBI (case)