Assignment

On
Marketing Strategies for a New Commercial Bank in the
Retail Banking sector of Bangladesh



Submitted to:

Submitted By:
MBA Program










Introduction:

Banking industry in Bangladesh started its journey with 6 nationalized commercialized banks, 2 State
owned specialized banks and 3 Foreign Banks. Now, in Bangladesh there are four sate-owned banks,
thirty one private commercial banks, eight Islamic commercial banks, nine foreign commercial banks,
five specialized banks, one land development bank and also thirty non-banking financial institutions.
The growth of the country's banking sector influenced by the growth of economy of Bangladesh in recent
decade. An increase in deposits by over 400 percent and assets by around 500 percent in the last 10 years
has been occurred. Simultaneously, per capita GDP has more than doubled and yet more than half the
population is still have no connection with banks. For this Reason there are wide scopes for new banks in
our country.
Banks generally earn money primarily in three ways. Firstly, from the spread between the deposit and
lending rates; Secondly, from the fees they charge for various products and services, and thirdly from
proprietary investments. While most banks offer similar commodity type products, they are competing
with each other on price, interest rates and services. The new comers can gain an initial advantage and
capture market share by offering higher deposit rates. As in Bangladeshis, there is almost half of the
population are deprived from bank services, the biggest opportunity for new banks can target unbanked
rural populations with the right products and services. Opening cost-efficient branches and nimble service
centers in suburban and rural areas can substantially increase asset size and at the same time, bring the
much-needed diversification.

Marketing Strategy of New Banks:
The new banks need to do most is gaining the confidence of the customers. They've to win over new
customers and render quality services to earn their confidence. Marketing strategy should be different
from other existing banks.
Some strategic, marketing, promotional and business development activities are also required for
promoting a brand to stay on "Top of the Mind" of the customers at any level. Brand visibility tools like
billboards, leaflets and so on help the customers recall a bank most often while in a banking need.
Campaigns for account opening, service quality or new service or product penetration are also proven as
effective business development activities. The new banks should look forward to build a big customer
base while creating a strong and sustainable foundation of deposits. They should explore new areas of the
economy and thus generate new businesses. The new banks have the scope to capture the markets which
are still unexplored. They should draw up a market-driven planning which is worth implementation. They
should recruit human resources aptly and implement other related programmers on reasonable budgets.
Meghna Bank is a newly opened bank in Bangladesh and the management of the bank has taken some
marketing strategy for getting public concern.

Status of Meghna Bank:

Meghna Bank is a private commercial bank incorporated with registrar of joint stock companies under the
companies Act 1994, 20
th
march, 2013 in Dhaka. The Bank Commenced banking operation on May 09,
2013 by obtaining license from Bangladesh Bank. The Number of brunches of the Bank was six located
in Gulshan, Motijheel, Chawbazar, Saver DEPZ at Dhaka and Shathibari at Rangpur.

Marketing Strategy of Maghna Bank:

MBL believes that active communication with different stakeholders and the general public is an integral
part of good business and administration which is a prerequisite to achieve the long term and short term
goal of the Bank. Communication is a part of marketing strategy .The organization which has good
communication with the stakeholders they can easily survive in the market




Target Groups:
MBLs Communications shall ordinarily be targeting one of the following external groups:

i. Customers
MBLs customers belong to both private and public sectors. Communication to customers should support
the approved process of maintaining current customer relations as well as finding potential new
customers. Information provided to such sector must have to be approved for this purpose.
ii. Shareholders
MBL provide information to its shareholders in accordance with stipulations in relevant laws and
regulations. MBL is guided by regulations and practice of the industry for providing information to the
Member of the Board of Directors of MBL.
iii. Government and Regulatory authorities:
Regulatory authorities frequently ask for information from Banks on (a) Banks own Policy issues (b)
Customers particulars and transactions (c) Business handled by the Bank etc. Government authorities
also sometimes ask for information from commercial Banks.
iv. Media personnel
MBL considers the media (both print and electronic) as a medium of communication to its readers or
viewers. It also serves as an intermediary in reaching a targeted segment of people decided by the Bank.
v. General public

MBLs external communication to general public will be targeted to potentials customers unless it is a
regulatory disclosure. The general public is an important target group for MBLs business growth.
Communication Tools:
MBL uses the following communication tools to reach its target groups:
A. Newsletter
MBL publish a newsletter to inform key target groups about its activities. The materials have used in the
newsletter has also been published on the MBLs website. It also published in a broader form in other
publications such as NIBs customer magazine. Corporate Affairs Department have the ownership of the
newsletter.
B. Leaflets, brochures
MBL publishes leaflets and brochures. The aim is to provide an interesting insight into the Banks
activities, field of competence and new products.
C. Annual Report
The Annual Report provides contains report on overall activity by the bank and its financial statements
for a calendar year. It is comprehensive by nature and serves purpose of investors, regulators and also
customers.
D. Internet
The website of MBL is the central platform for all external information MBL produces. MBL keep this
upto-date and reader-friendly.









E. Seminars, speeches
MBL organizes and participates in seminars with key target groups. Top management is invited to give
speeches on various topics. Important public appearances are announced on the website and handed over
to press.


F. Media activities

In general, MBL sends press releases on its important activities and information targeted for General
Public and Customers. Interviews of Officials to media, subject to approval, arranged to promote the
activities of the Bank and/or sharing personal opinion with the stake holders.

Role Of Corporate Affairs Department in Marketing:

In today's highly competitive business world, maintaining a positive corporate reputation both among the
general public and the smaller internal circle can be critical to an organization's financial success.
Corporate affairs officials ensure that the Bank is in good graces of internal and external stakeholders by
providing both with timely, accurate and clear information about the organization, details about its core
values which influence it business, its mission and vision.
Key role of the Corporate Affair Department of MBL is:
Internal Communications
Keeping employees abreast of MBLs values, mission, vision and initiatives.
Producing newsletters and other materials that keep employees connected to their industry,
colleagues and supervisors.
This communication helps to create willingness in the mind of people with qualification to get job in the
bank. Organizations do not make marketing plan for the consumers only. They also give preference in
getting peoples awareness about their work environment as they need well efficient employees for
making their plan successful.

External Communications
Prepare press releases, reports on MBL for making presentation to different target groups.
Serve as the voice and image of the company when interacting with the public, media outlets and
other organizations.
They also have a well descriptive website which gives all information about the banks services and
also attract people with unique kind of services.




Events Coordination
Planning events hosted by or involving MBL.
Designing strategy that will incorporate corporate branding and key messaging
Logistics plan that ensures high visibility for MBL and event is executed flawlessly.


In this free market culture ,customers need a good spply of banks . The road to success is very
complecated and predictable to be even more challenging in the future. Investing in intellectual capital,
attracting deposits at competitive rates, focusing on unbanked population, selecting right clients, learning
from past mistakes, embracing new technology, and most importantly developing effective leadership can
be effeictive marketing strategy for a new bank.