TERM PAPER OF SERVICE MARKETING

TOPIC: AXIS BANK

SUBMITTED TO:
MR. PUNEET BAWA SIR

SUBMITTED BY:
MANINDER PAL SIGNH
MBA-IV SEM
ROLL NO: RS1802B47

LOVELY PROFESSIONAL UNIVERSITY

 TABLE OF CONTENTS

SR.NO PARTICULARS

1 EXECUTIVE SUMMARY

2 SERVICE MARKETING ENVIRONMENT

3 PROFILE OF AXIS BANK

4 MARKETING MIX

5 MARKETING SEGMENTATION

6 CUSTOMER REQUIREMENTS AND EXPECTATIONS

7 QUALITY CONCERNS

8 INTEGRATED GAP MODEL

9 SERVICE BLUEPRINT

10 SERVICE RECOVERY STAGES

11 POSITIONING MAP

12 SERVICESCAPE

13 CUSTOMER AND EMPLOYEES ROLE IN SERVICE DELIVERY

14 MARKETING COMMUNICATION SYSTEM

15 SERVICE INTERMEDIARIES

16 MANAGING WAITING LINES

17 BIBLIOGRAPHY

EXECUTIVE SUMMARY
The Axis bank has extended collaboration without borders to the next level. It has adopted an
enterprise wide IT strategy aimed at integrating its service channels, ramping up its efficiency
levels, and enabling it to roll out a new generation of products − by building a converged IP
network. In doing so, the bank has demonstrated the true meaning of unified communications as
distinct from simply allowing a proliferation of different communications capabilities. Axis bank
is India’s largest and the world’s fifth largest bank, with more than 90 million customers, 15,000
branches and 7,000 ATMs in India and 40 other countries

Business Challenge

Executing an enterprise wide IT strategy to integrate one’s service channels is no mean feat for
any organisation. When your operations are scattered across a myriad of geographies and time
zones, it’s even trickier. ASxis bank recognised that success required the company to enlist the
expertise of a partner to design, build, and manage a converged network capable of carrying all
its present and future traffic. The integrator would also be responsible for bandwidth, all
networking equipment, software, and management as well as a 24x7 helpdesk, service level
agreements, and the management of scheduled and unscheduled network outages.

Solution Provided

Over a period of eight years, starting in 2002, Datacraft worked with the Cisco Internet Business
Solutions Unit, built and deployed an integrated IP network that powers all the bank’s business
processes in some of the world’s most high-tech cities as well as in India’s most remote rural
areas. Applications powered by the network range from core banking, treasury operations and
trade finance to inter-branch voice communication and unified messaging. The project, which
has met all budget and timeline requirements, was executed in five phases. Phase I covered 1,400
branches in 49 cities. Phase II covered 3,400 branches in more than 300 cities. Phase III involved
networking the remaining 6,100 branches. Phase IV covered an additional 2,800

SERVICE ENVIRONMENT OF AXIS BANK

INTERNAL ANALYSIS (SWOT)

Strengths:

 BRAND NAME: Axis Bank has earned a reputation in the market over the period of
time(Being the oldest bank in India tracing history back to 1806)

 Market Leader: Axis bank is ranked at 380 in 2008 Fortune Global 500 list, and ranked
219 in 2008 Forbes Global 2000. With an asset base of $126 billion and its reach, it is a
regional banking behemoth.

 Distribution Network Wide: Excellent penetration in the country with more than 10000
core branches and more than 5100 branches of associate banks (subsidiaries).

 Diversified Portfolio: Axis Bank has all the products under its belt, which help it to
extend the relationship with existing customer. SBI Bank has umbrella of products to
offer their customers, if once customer has relationship with the bank. Some Products,
which axis Bank is offering are: Retail Banking Business Banking Merchant
Establishment Services (EDC Machine) Personal loans & Car loans Insurance Housing
Loans

 Government Owned: Government owns 60% stake in axis bank. This gives axis bank
an edge over private banks in terms of customer security.

 Low Transition Costs: axis bank offers very low transition costs which attracts small
customers.

Weaknesses:

The existing hierarchical management structure of the bank, although strength in some
respects ,is a barrier to change. Though axis cards are the 2nd largest player in the credit card
industry, it has the highest no performing assets (NPAs) in the industry, which stand out to be at
16.28 % (Dec 2007).Modernisation: axis bank lags with respect to private players in terms of
modernisation of its processes, infrastructure, centralisation, etc.

Opportunities:

Merger of associate banks with axis bank : Merger of all the associate banks (like UTI , etc)
into axis bank will create a mega bank which streamlines operations and unlocks value.
Planning to ads 2000 branches and 3000 ATMs in 2008-2009. This will further increase its
reach. Increasing trade and business relations and a large number of expatriate populations offers
a great opportunity to expand on foreign soil.

Threats:
Advent of MNC banks: Large numbers of MNC banks are mushrooming in the Indian market
due to the friendly policies adopted by the government. This can increase the level of
competition and prove a potential threat for the market share of axis bank.

• Consumer expectations have increased many folds in last few years and the bank has not
been responsive enough to meet them on time.

• Private banks have started venturing into the rural and semi-urban sector, which used to
be the bastion of the State Bank and other PSU banks

• Employee Strike: There was an employee strike in the year 2006 which disrupted SBI’s
activities. This can be repeated in the future

EXTERNAL ANALYSIS (PESTAL ANALYSIS)

Political and legal environment

• Government and RBI policies

• Declaration of measures like waiver of short-term agricultural loans,

• to attract the farmer’s votes.

• Exploitation of various banks in the cooperative sector, open and run by the politicians.

• Chairmen of the various banks appointed by the govt.

Economic environment

Existence of banking in one form or the other from time to time. Commencement of the present
era in banking with establishment of bank of Bengal in 1809 under the government charter and
with government participation in share capital.

• Every year RBI declares its 6 monthly policy and accordingly the various measures
and rates implemented which has an impact on the banking sector.

• Union budget affects the banking sector to boost the economy by giving certain
concessions or facilities. For e.g. encouragement of the savings in the Budget,
relaxation of the FDI limits.
Social environment

Nationalization of the banks in 1969 –

• Only big business houses and the effluent sections of the society getting benefits of
banking in Indi

• To adopt the social development in the banking sector and speedy economic
progress, consistent with social justice.

• Help economically weaker section of the society and provide need-based finance to
all the sectors of the economy with flexible and liberal attitude. e.g. various
types of loans to farmers, working women, professionals, traders, loans, housing
loans, consumer loans etc.

• Banks having big clients or big companies have to provide services like personalized
banking to their clients.Banks have changed the culture of human life in India and
have made life much easier for the people.

Technology environment

• Much important and wider role of technology in bank’s internal control mechanisms and
services offered by them.

• Change of the concept of ‘branch banking’ to ‘anywhere banking’.

• An era of ‘cashless society’ with ‘electronic-purse’.

• Use of SMS and Internet as major tool of promotions and utility to customers.

• Simplified operations and customer handling.

• Home banking and Internet banking.

 ABOUT AXIS BANK
Axis Bank was the first of the new private banks to have begun operations in 1994, after the
Government of India allowed new private banks to be established. The Bank was promoted
jointly by the Administrator of the specified undertaking of the Unit Trust of India (UTI - I), Life
Insurance Corporation of India (LIC) and General Insurance Corporation of India (GIC) and
other four PSU insurance companies, i.e. National Insurance Company Ltd., The New India
Assurance Company Ltd., The Oriental Insurance Company Ltd. and United India Insurance
Company Ltd.The Bank today is capitalized to the extent of Rs. 405.17 crores with the public
holding (other than promoters and GDRs) at 53.09%.The Bank's Registered Office is at
Ahmedabad and its Central Office is located at Mumbai. The Bank has a very wide network of
more than 1000 branches and Extension Counters (as on 31st March 2010). The Bank has a
network of over 4055 ATMs (as on 31st March 2010) providing 24 hrs a day banking
convenience to its customers. This is one of the largest ATM networks in the country.The Bank
has strengths in both retail and corporate banking and is committed to adopting the best industry
practices internationally in order to achieve excellence.

Goals:

1. Promote and encourage the adoption of exceptional customer service as a fundamental

principle in the delivery of motor-vehicle-related services.
2. Foster awareness of the vital role every service provider plays in achieving service
excellence and promote the importance of providing each individual with the knowledge,
skills and tools to deliver quality service.
3. Encourage and facilitate the sharing of ideas, technologies and practices which contribute
to the achievement of customer service excellence.
4. Identify and share those service delivery techniques which most effectively and
efficiently meet customer expectations.
5. Identify and share methods of obtaining customer expectations and measuring the level of
satisfaction with the quality of services, products and information provided.
6. Recognize individuals and jurisdictions making substantial contributions to the
enhancement of service quality.
7. Exchange information with other AAMVA standing committees and work to achieve
mutual goals.
 MARKETING MIX OF AXIS BANK

PRODUCT MIX

• ATM Network

• 7-Day Banking

• Telebanking

• iConnect-Internet Banking

• It includes all different product lines a company offers to its customers.

• Savings AccountRewards

• Dial-A-Draft

• Credit Limit Increase

• 24-Hour ATMs

• Concession on Personal Remittances

• Overdraft Facility

• Free ATM Card

• Other Features

• Credit Cards

PRICE MIX

• It is nothing but the interest rates charged by the different banks.

• ATM Card Issue Free

• 2 ATM cards issued

• Current Account

• Savings Account

• Transaction

• Charges
 • Cheques book

• Issue of duplicate statement

PLACE MIX
It is the location analysis for banks branches. Some of the factors affecting the
location analysis are :-

• The Trade Area

• Population Characteristics

• Commercial Structure

• Proximity to other convenient Outlets

• Real Estate Rates

• Proximity to Public Transportation

• Location of Competition

• Visibility

• Access

PROMOTION MIX
It is making the customer more and more aware of the services and benefits
provided by the banks.

Different ways of promotion are :-

• Public Relations

• Personal Selling

• Sales Promotion

• Word-of-mouth Promotion

• Telemarketing

• Internet

PEOPLE
An essential ingredient to any service provision is the use of appropriate staff and
people. Recruiting the right staff and training them appropriately in the delivery of
their service is essential if the organisation wants to obtain a form of competitive
advantage. Consumers make judgements and deliver perceptions of the service
based on the employees they interact with. Staff should have the appropriate
interpersonal skills, aptititude, and service knowledge to provide the service that
consumers are paying for.

PROCESS
The process mix constitutes the overall procedure involved in using the services
offered by the bank. A process should be such that the customer is easily able to
understand and easy to follow.

1. Producing of proper documents

2. Filling up of application form

3. Paying for the initial down payment.

PYSICAL EVIDENCE
Physical evidence is the overall layout of the place i.e. how the entire bank has been
designed. Physical evidence refers to all those factors that help make the process
much easier and smoother. , the physical evidence would be the placement of the
customer service executive‟s desk, or the location of the place for depositing
cheques. The more the bank does to make the service easier and better the more
satisfied will be the customer.

MARKET SEGMENTATION BY AXIS BANK

Axis Bank is eyeing rural India for increasing exposure in view of the huge demand for banking
in the rural sector. Axis Bank has set up 8,000 “touch points” across the country for penetrating
rural pockets and is developing low-priced ATMs. The bank has also disbursed Rs 2,500 crore
towards rural sector financing. The Bank is expecting good rural credit to off take in the current
year and has also rolled out "Ashan" ATMs for the urban and semi-urban markets in India. This
is certainly a very positive move from Axis Bank. Until now, Axis was more focused on the
retail banking and home loans segments in urban areas. Axis has been very successful in these
areas; in the home loan segment, Axis the number one private sector bank and in retail, they
have a good amount of market share too.

Demographics variables

Location
Metros & divisional cities

Occupation

Business persons

Salaried class (both Govt. and private)

Working woman

Age

Senior citizens

Minor

But India is a country of villages and more than 70% of the population still lives in rural areas.
The demand for credit in the rural markets was Rs 1.5 lakh crore, while the supply was only Rs
4,000 crore. Until now, the rural banking segment was controlled by government owned SBI, but
now things are changing. Rural India is developing very fast-- the growing economy is leading to
increase in business activities, which in turn has people in villages wanting many more services
from a bank than simply depositing their money.

CUSTOMER REQUIREMENTS AND CUSTOMER EXPECTATIONS

FROM AXIS BANK

CUSTOMER REQUIREMENTS

• We need safeguard, according to strict standards of security and confidentiality, any

information company share with us.
• To limit the collection and use of customer information to the minimum and require to
deliver superior service to customers, which includes advising customers about products,
services and other opportunities, and to administer business.
• To permit only authorized employees, who are trained in the proper handling of customer
information, to have access to that information. Employees who violate our Privacy
Promise will be subject to our normal disciplinary process.
• To not reveal customer information to any external organization unless we have
previously informed the customer in disclosures or agreements, have been authorized by
the customer, or are required by law.
• To always maintain control over the confidentiality of our customer information. It may,
however, facilitate relevant offers from reputable companies. These companies are not
permitted to retain any customer information unless the customer has specifically
expressed interest in their products or services.
• To tell customers in plain language initially, and at least once annually, how they may
remove their names from marketing lists. At any time, customers can contact us to
remove their names from such lists.
• Whenever company hire other organizations to provide support services, it will require
them to conform to their privacy standards and to allow the audit them for compliance.
• For purposes of credit reporting, verification and risk management, we will exchange
information about our customers with reputable reference sources and clearinghouse
services.
• To not use or share - internally or externally - personally identifiable medical information
for any purpose other than the underwriting or administration of a customer's policy,
claim or account, or as disclosed to the customer when the information is collected, or to
which the customer consents.
• To attempt to keep customer files complete, up-to-date, and accurate. And to tell
customers how and where to conveniently access their account information (except when
they are prohibited by law) and how to notify us about errors which we will promptly
correct.

CUSTOMER EXPECTATIONS

• Give you clear information explaining the key features of the services and
products you tell us you are interested in .
• give you information on any type of account facility which we offer and may suit
your needs
• tell you what information we need from you to prove your identity and address
and to comply with legal and regulatory requirements,
• We will make sure that all advertising and promotional material is clear, fair,
reasonable and not misleading.
• We will treat all your personal information as private and confidential [even when
you are no longer a customer]. We will not reveal transaction details of your
accounts to a third party, including entities in our group, other than in the
following four exceptional cases when we are allowed to do
• Taking care of your cheques, passbook, cards, PINs and other security
information is essential to help prevent fraud and protect your accounts.
• Never give your account details password or other security information to anyone
unless you know who they are and why they need them.

QUALITY CONCERNS OF AXIS BANK

"Best IT
Team of at the IDRBT Banking Technology
the Year awards for the year 2005-06.
Award"
SKOTCH Challenger Award for Change Management
Best IT User in Banking & by NASSCOM in partnership with Economic
Financial Services Industry - 2004 Times
for Excellence in Corporate Governance - by
Golden Peacock Award
Institute of Directors
FICCI's Rural Development Award for Excellence in Rural Development -
Skotch Challenger Award for
for becoming a pioneer in Public Banks
Exemplary use of Technology
Golden Peacock National Training - by Institute of Directors
National Award for Excellence in
Ranked 2nd for 4 consecutive years
SSI Lending
Banking Technology Awards 2004
Runner up in 'Best IT Team of the Jointly Adjudged by IBA, Finacle & TFCI
Year Award 2005'
Money Outlook Award - 2004
Runner up in 'Best Bank (public
Sector) of the year Award' -2005
for excellence in export perforamnce
Niryat Bandhu Gold Trophy by Federation of Indian Exporters Organization
(FIEO)
by the leading Financial Daily The Economic
21st Amongst Top 500 Companies
Times, June 2005
9th amongst India's Top 50 Most A.C Nielson Survey, The Economic Times Dec
Trusted Service Brands 2004
3rd Rank amongst Banking Sector
in India The Bankers' Almanac, January 2006
323rd Rank in the World
368 amongst Top 1000 Global
The Banker, London July 2005
Banks
Skoch Challenger Award for Winner for becoming a pioneer in public banks by
Exemplary Use of Technolgy Skoch consultancy services pvt ltd, Gurgaon 2005
FICCI's Rural Development Award Award for excellence in rural development 2005
INTEGRATED GAP MODEL OF AXIS BANK
I GAP OF AXIS BANK

It refers to the difference between customers’ expected service and management’s perceptions
of customers’ expectations . This gap means that management may not correctly perceive
customer expectations.

II GAP OF AXIS BANK

It refers to the difference between management perceptions of customers’ expectations and
service quality specifications . This gap means that although the people in management level
may perceive the correct expectations of the customers, they may not have suitable and sufficient
service quality specifications.

III GAPOF AXIS BANK

It refers to the difference between service quality specifications and the real service delivery .
This gap means that although the service providers may have suitable and sufficient service
quality specifications, they may not have the satisfactory service delivery in the real situation.
That may be because service providers lack well-trained employees to deliver satisfactory
service.

IV GAP OF AXIS BANK

It refers to the difference between the service delivered and external communication about the
service with customers. It is, the service providers may not have suitable and sufficient
communication with the customers or the service providers may have commitments that exceed
what they can do or they may not sufficiently inform the customers of what they have done.

V GAP OF AXIS BANK

It is the difference between consumer expectation and their perception of service quality -
measured by the difference between what customers expect and what customers perceive about
the service. This means that the service quality is closely related to management perception,
marketing, personnel management, communications with customers, service specifications and
delivery.

STRATEGIES ADOPTED BY AXIS BANK TO CLOSE THE GAP FOR EFFECTIVE

COMMUNICATION AND DELIVERY OF SERVICES

• Internal and external research

• What do customers really want from service & create value
• Listening to what customers and employees feel about performance
• Improve the technical service quality as well as functional service quality
• Evaluation of performance
• Action
• Monitoring
• Improving
• Motivation
 METHODS FOR ENHANCING SERVICE QUALITY

• Internal performance analysis

• Customer satisfaction analysis
• Specialist market research

SERVICE BLUEPRINT OF AXIS BANK

FRONT OFFICE:

• service delievery begins with loan application which is further processed through

frontline officers.

• Customers are notified through a telephone and income levels are verified and initial
screening is done.
LINE OF VISIBILITY:

• Credit checks are made

• Employer receives the payments through confirmation of credit bureau.
• Issue of checks in the form of print payment book and closing of accounts with help of
customers.

BACK OFFICE:

Supporting activities which may includes:

• Database records
• Branch records through accounting
• Closing accounts if verifying procedure fails with the customer records.

SERVICES RECOVERY STAGES OF AXIS BANK

Description of Revised Basis of Recovery

Charges
Account Opening Nil (Statutory Charges would NA
Charge recovered)
Account Closing Nil NA
Charge
Annual Rs. 500 p.a. for customer AMC for existing Demat Accounts to be
Maintenance authorizing Bank to debit DP recovered up-front in April. New
Charge charges from Bank account Accounts would be charged on pro-rata
maintained with Axis Bank. basis from the Next Day of Account
Opening.
Rs. 2,500 p.a. for customer who
has not authorized bank to debit
DP charges from Bank account
maintained with Axis Bank.
Demat Charges Rs. 5 per certificate subject to a Demat Charges to be recovered through
 minimum of Rs.50 per request. monthly bill.
Remat Charges Rs. 20 for every 100 securities or Remat Charges to be recovered through
part thereof or Rs. 50 per request monthly bill.
whichever is higher
Debit 0.04% (Min Rs.20 per Sell Transaction Charges to be recovered
Transactions Instruction) through monthly bill.
Failed / Rejected Rs.10 per Instruction Failed/ Rejected Instruction Charges to
Instruction be recovered through monthly bill.
Ad-hoc Statement Rs.100 per Statement Statement Charges to be recovered
upfront.
Pledge
Creation 0.04% (Min Rs. 25) + NSDL Pledge Creation Charges to be recovered
Charges Rs.25/- per instruction through monthly bill.
Closure 0.04% (Min. Rs. 50) per Pledge Closure Charges to be recovered
Instruction through monthly bill.
Invocation 0.04% (Min. Rs. 50) per Pledge Invocation to be recovered
Instruction through monthly bill.
Speed-e
SPEED-e Annual Rs. 20 per User ID for Password SPEED-e AMC charges to be recovered
Maintenance Users. up-front in the month of April every year.
charges
Rs. 1000 per User ID for Smart
Card / E- Token Users.
SPEED-e Debit Rs.20 per instruction Sell Transaction Charges to be recovered
Transactions through monthly bill.
Freezing Rs. 125 per instruction Freezing Instruction Charges to be
Instruction on recovered through monthly bill.
SPEED-e
 POSITIONING MAP OF AXIS BANK

High Price

E
A
F B

Low High
Quality Quality

D
LowPrice

Positioning maps are a useful tool for giving you a graphical idea of where your product stands
vis-à-vis other products in the market at a given time. In the above map, for instance, the maker
of product C would know that there are no products directly competing with it and that it has a
distinct position in the market. The maker of product B, on the other hand, would note that
product A is competing too closely with it, so product A can be deemed as a direct competitor,
while product E is a close competitor as well. Of course, while no product is competing with
product D in its position above, it is a bad position to have: low price and low quality equate to
being an inferior product.

SERVICESCAPE FOR AXIS BANK

There are service settings where there is little or no customer involvement in the servicescape.
Telecommunications, insurance and call centres etc., are examples of remote encounters. These
use remote servicescapes. They are back office .The place has to be designed to keep employees’
motivation and morale high. The servicescape should premeditate ergonomically to facilitate
teamwork, supervision and operational efficiency. In axis bank a large part of the floor is marked
as restricted, leaving little space in the form of an arrow aisle along the outer walls of the hall for
customers. The message is clear –customer must not enter the restricted area, that is where the
most important job of the bank, internal operations, is conducted and by entering t0hat area ,
customers will be interfering with that task. Whereas private banks approach customers with
conviviability. The air conditioned lounge with comfortable seats and a cold water dispenser as
you pass through a spotlessly clean glass door, makes customers feel welcome . They are
allowed more space to move and occupying a seat across from executives desks suggest that
customer are indeed central to all activity. The service with public bank also suggests that
customers have a formal –official relationship with public bankers, whereas servicescapes in
private banks encourage casual –affable interactions.

EMPLOYEES AND CUSTOMER ROLE IN SERVICE DELIVERY

EMPLOYEES ROLE AND RESPONSIBILITY

• customers are treated fairly at all times

• Complaints raised by customers are dealt with courtesy and in time

• customers will be fully informed of avenues to esacalate their complaints/grievances

within the organization and their rights to alternative remedy, if they are not fully
satisfied with the response of the bank to their complaints
• The Bank will treat all complaints efficiently and fairly as they can damage the Bank's
reputation and business if handled otherwise.

• The employees will work in good faith and without prejudice to the interests of the
customer.
• The Bank will inform customers where to find details of procedures for handling
complaints fairly and quickly.

• If the customer complaint is received in writing, we will endeavour to send an

acknowledgement/a response within a week. If customer complaint in relayed over phone
at our designated telephone helpdesk or customer service number the bank shall provide a
complaint reference number and keep customers informed of the progress within a
reasonable period of time.

• After examining the matter, bank will send the final response or explain why we need
more time to respond and shall endeavour to do so within 30 days of receipt of complaint
and will tell customers to take their complaint further if they are still not satisfied.
• Suggestion Box and complaint Book are provided in all the branches. Any written
complaint is instantly and promptly acknowledged.

• All branches other than small branches have " May I help you counters ".

• Counter staff are provided with training and additional inputs.

• If counter staff/Supervisor is unable to resolve a grievance, the branch in-charge

intervenes and tries to resolve the issue.

• Customers' Day is observed on 15 th of every month. On this day branch in-charge will
make himself available at the branch between 3 p.m. and 5 p.m. to meet customers
without any prior appointment.

• Customer Service Committee meetings is held every month at all Branches, Circle
Offices. The sole task of the

• Committee is to find out ways and means to render service to the satisfaction of the
Customers. For this purpose

• Committee will meet regularly at stipulated intervals to discuss in detail the strengths and
deficiencies of the services presently rendered and take steps to improve it.

• Special Customers' Meet is conducted on special occasions.

CUSTOMER’S ROLE IN SERVICE DELIVERY

• by spreading positive word of mouth.

 • By delivering and selling its services by working as the agent for the bank.

• Building up good relations with the bank and accepting its terms and conditions.

• Keeping themselves up to date regarding the services being provided by axis bank.

• By bringing up more and more customers to avail the services provided by axis bank.

AREAS OF REPONSIBILITY OS AXIS BANK FOR THEIR CUSTOMERS



 Provide superior customer service in a friendly and knowledgeable manner.

 Process transactions efficiently and accurately.

 Refer enquiries to the appropriate staff.

 Maintain a general knowledge of the bank’s common products and services.

 Ensure all Bank & Industry service standards and codes of conduct are adhered to.

 Take ownership of client complaints/issues, initiating action or resolving the problem

within 24 hours and keeping the clients informed during the process.

MARKET COMMUNICATION SYSTEM OF AXIS BANK

 Participation in national and international exhibitions is a common form of communication
which has several advantages. It is possible to demonstrate products to a larger part of the target
group, and it gives an opportunity to establish personal contacts with customers as well as
potential suppliers, sub-suppliers and colleagues.

It is costly to participate in fairs. It therefore requires considerable and thorough preliminary

work to get a sufficient yield from participating. It can be an advantage to participate in fairs
together with one or more companies with products which supplement one’s own product
programme. This will reduce the costs of the fair.

Impersonal contact. The impersonal contact is mainly in the form of advertising in various
media and sending out brochures and other sales material. The effect is largest when advertising
in magazines etc. which cover the target group best. A media index exists which lists the number
of persons and the types reading the individual newspapers and magazines. Personal contact can
be:

Advertisements. The price of advertising depends on the number of persons expected to see the
media used (newspapers, magazines, directories, telephone directories, cinema, TV, radio,
streamers, posters, etc.). When evaluating the price of advertising, it should be seen in relation to
the expected effect of inserting the advertisement, such as number of responses to the
advertisement or the number of products sold.

The advertisement should have a telling headline or an illustration to catch the reader’s
attention. The message should be brief and to the point, and it is important that the reader can see
what to do to get the product. Address and telephone number should therefore be included.

Brochures. A brochure describing the company and its products, can support personal sales.

Sales letters. A comparatively inexpensive way of contacting potential customers is to send out
sales letters, perhaps supplemented by a brochure or specimen. The purpose of a sales letter is to
create a positive attitude to the product so that the customer orders the product or requests more
information.

SERVICE INTERMEDIARIES OF AXIS BANK

 AGENTS: These are those agents who work as the part of Axis bank but there work is
external to the bank services internally. They are paid agents where as some are unpaid
agents.

 BROKERS: these are those people who work as the part of the bank in selling its
products such as shares, bonds, loans, mutual fund, debentures, policies, insurance, etc.
they are provided by the fixed brokerage rate by Axis bank.

 FRANCHISEE OUTLET: Axis bank had opened its some of franchisee outlets in many
places in order to serve the customers at their nearby places. They are commission based
employees and get profits at the time of higher earnings.

 CUSTOMER ITSELF: these are the customers who had there accounts in Axis bank.
Sometime they work for the bank in selling their products and services by spreading
positive word of mouth.

 POSTAL AGENTS: these are agents of post offices who provide different services of
banks in nearby post offices located in different areas. They offer various services and
schemes to the customers such as fixed deposit, cash withdrawal, RD, etc.

 BANK EMPLOYEES: these are the internal working employees who work as an
intermediary between bank and its customers. They offer various services such as
account opening, cash withdrawal, cash deposit, demand draft.,etc.
 MANAGING WAITING LINES AT AXIS BANK

Internet banking also known as Online banking or e-banking is one of the most recent
technological innovations, which is becoming a need for every common man. It uses Internet as
a medium for delivery banking services. Today, banking is not limited to branches, where a
person goes to bank for withdrawal of cash or request a statement of accounts or to deposit a
check. An inquiry or transaction can be handled online without any reference to the branch any
time through Online banking.

Internet Banking provides benefits to both banking systems and customers:

Fast: Normal banking is slow and time consuming, as customer needs to wait in tiresome queue
for request of statement or transaction. But in Online banking transfer of money (funds) from one
account and other can be done in minutes.

Convenient: Customers can access many accounts in a bank efficiently. They can carry out
financial transactions comfortably from home, if they have Internet.

Cost effective: Bank can handle thousands of customers at a time through Online banking. The
administrative (official) work of bank can be reduced highly as bank operations can be
performed by less number of cashiers and clerks.

All time accessibility: Bank account can be accessed any time (24 hours of a day and 7 days of a
week) and from anywhere (at any location). Customers can easily transfer money from their
accounts or receive money in their accounts electronically. Acceptability of digital signatures in
all banks is of great advantage.

Flexibility: Customers can easily apply for loan and get it without going to local bank. Bank
accounts can be used to buy or sell stocks and securities through Online banking. Without any
paper work and without visiting bank, new accounts can be created and old accounts can be
closed through Online.

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