Managers Decision Diary: Marketing Decisions

1. What is the marketing managerial issue? Provide complete background of the issue.
Pick a real issue in your organization or organization you know, that you have faced in
past or facing right now.

NIC Asia Bank has launched Virtual Account Transfer services in which remittance from India
is received through clearing from Standard Chartered Bank India. This is a sophisticated
remittance service for inward remittance in which Indian importers deposit the amount in NIC
banks accounts at SCB India after which auto generated fund transfer message is received
from SCB and the beneficiarys account are credited on the next working day of deposit in
India. The bank wants to become leading bank for facilitating local exporter to India there by
exploring other banking needs of the local exporter

2. Analysis of the issue using the marketing concept (s) studied in Marketing Decision
class. Dont give commonsensical analysis; your analysis should be based on certain
concepts, philosophy and guidance that we have studied in Marketing Decision class.

Since this product is designed to cater needs of Nepalese exporters, as stated in identifying
market segment and targets, the bank need to target the market segments which is
a. Measurable: The volume of export to India
b. Substantial: The business generated from the segment should be profitable.
c. Accessible: The customer could be served.
d. Differentiable: The segments should be differentiable from others.
e. Actionable: Specific service could be provided to this segment.


3. Provide recommendation based on your analysis to solve the issue. Recommendation
must be based on concept-driven analysis. Recommendations must be SMART
specific, measurable, attainable, realistic and time-bound.

The bank should develop the marketing strategy as follows:
a. Obtain the business volume through governments annual budget and monitor trend
analysis of at least last 5 years.
b. Get the list of exporter from export promotion centre/respective trade organization.
c. Select the major commodities exported.
d. Utilize internet to get more detail about the customer.
e. Understand competitors pricing.
f. Offer the product with other banking services.

4. Key learning as how using of the concept helped you analyze the issue and come up
with recommendation.

I used Market Targeting and effective segmentation criteria for segmentation of exporters in
Nepal to offer the service. The theoretical model helped to understand the market for suitable
offering of the services.