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Icici

In: Business and Management

Submitted By debraj
Words 1476
Pages 6
ICICI Bank Marketing Strategy

Current Scenario • ICICI has been spending tremendously on advertising since the past few years so as to create a high awareness quotient among its target group • The reasons for its tremendous success have been implementation of new technology at the right time at the right place, gaining first mover’s advantage and using means of communication not used by competitors in the same industry. • Moreover, it has been able to gain significant leadership positions in all domains it entered, be it housing loans, auto loans, life insurance or general insurance • Also we see that the brand salience is high from the figure1 on brand track study which shows that everyone now knows about ICICI and its activities. The next step is to sustain in the market at the same rate of growth
Problems faced • Many competitors have forayed into the techniques and the markets tapped by ICICI, thus increasing competition • Global financial crises have caught the financial intermediaries unaware and now every bank is trying to cope with it

Thus a lot of decisions have to be made in terms of what future strategies the bank should follow

Branding decision
ICICI has been able to build a healthy relationship with all its customers, which is heavily based on trust and confidence. It has been able to do so because of its services in the past and the excellent marketing campaigns used to create that association
Now, since ICICI has forayed into so many product fields, it is essential to maintain the crux of ICICI across all its product categories. This is essential so that every customer of ICICI looks at it not only from a product offering perspective but from a brand perspective. It should be such that every customer is so confident of the ICICI brand that tomorrow even if we enter a new product dimension and have a new offering, we will not…...

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