ICICI had focussed on various areas of marketing for building its brand.

For this, it targeted and acquired customers in different market segments. Though the concept of Customer Relationship Management (CRM) is quite new, ICICI is following relationship management and database marketing since its inception. As stated above, ICICI has always believed in product innovation. It has also designed its channel strategy which aims at getting the common mans Share of wallet. ICICIs STP Basis of Segmentation

Occupation - Different products for different occupational segment identified. Income - Minimum balance serves as an income segment barrier. Geographical - Concentrated on Tier 1 & Tier 2 Cities trying to extend reach. Age Different products like student account.

Targeting ICICI has a separate marketing strategy for different segments. It tailors its marketing campaigns to meet the needs of target prospects. It has long used technology to track and create differentiated product offering for different customer segments. Positioning ICICIs core proposition is reflected in the line Hum hain na, which spells trust, credibility and reinforces its position as a total financial solution provider (brought about through its cross selling effort). ICICI has followed modernization by making technology as the backbone of all its operations. ICICI is one bank which uses and applies international practices to the local context. For identifying the need of the customers, it has a Product development department, which continuously studies the market and analyses the competitive landscape. Despite heavy competition in BFSI industry ICICI has managed to have

product differentiation. For e.g. they have variants in various basic products like savings bank account to suit different customer base and different customer needs. Also, ICICI is an avid practitioner of product augmentation i.e. redefinition of the banking products with extra benefits and features added to the products. Pricing is one area every bank has to be careful about. Some of the ICICIs pricing strategies are:-

Penetrative pricing aimed at achieving large market share Philosophy of profit through volume Effort to drive out competition Price leader in retail banking product Aggressive pricing facilitated through low cost of fund acquisition