Chapter No.

07:

Conclusions
and
Suggestions.

Introduction.

Findings / Conclusions.

Suggestions.

Future Areas of Intensive Research.

Page 251
Introduction:

The present study entitled “Critical Analysis Of

Marketing Strategies Of Banking Services And Products
With Special Reference To State Bank Of India In Jalna
District” is focused on profitability through customer satisfaction
which is the ultimate aim of every marketing strategy. The study
proved that marketing is still not fully accepted as an
organizational imperative by Indian Banks under the administered
banking culture, marketing was not given adequate attention.

In order to have an assessment of the customer satisfaction

in Jalna district, 300 bank customers’ belongings to 9 branches of
SBI were interviewed for the study. The banking habits of the
customers, the speed of transaction, behavioral aspects of
employees’, customer amenities, credit related services, technical
aspects, services charges and pricing were the main parameters
used to assess the customer satisfaction. Further attempt was
made to study the awareness of respondents towards banking
services and promotional strategies adopted by sample SBI
branches.

SBI carried out various marketing initiatives to enhance its

reach. They included segregating and targeting existing high value
customers, cross sales of other products, setting up call centers and
outbound sales force to secure new customers. Plans were also
made to utilize database marketing to pursue large and medium
sized corporate, government and trade finance customers.

Page 252
Database marketing was expected to draw increased revenue from
cross selling, lower costs and increased customer loyalty. SBI also
introduced various other ways of reaching out to customers and
aggressive marketing through print and television media.

State Bank of India is the largest nationalized commercial

bank in India in terms of assets, number of branches, deposits,
profits and workforce. With the liberalization of the Indian
banking industry in the mid-1990s, SBI faced stiff competition
from the private sector and foreign banks which resulted in
significant loss of its market share. The case describes the efforts of
SBI to regain its lost market share by undergoing a major
restructuring exercise which involved redesigning its branch
network, providing alternate banking channels, emphasis on lean
structure and technology up gradation. The study also discusses
how SBI is building its image as a customer friendly bank by
launching innovative products & services and promoting its brand.
Following are the major findings / Conclusions drawn from the
study:

Page 253
Findings / Conclusions:
The present study finally arrives at the following conclusions
/ findings:

 State Bank of India had grown tremendously since

nationalization in the volume of business and number of
customer served.

 Bank marketing does not only include service selling of the bank
but also is the function which gets personality and image for
bank on its customers’ mind.

 Due to increasing competition among the banks SBI is

providing the maximum services to the customers like lockers,
e-bill payments, online shopping, payment of insurance
premium, consultancy services, etc.

 The study concludes that quality of the services is the prime

factor for the development of the banks. Indian private sector
bank and foreign banks are providing quality services to the
customers and SBI banks are always following them.

 SBI has impressive branch networks have not been able to meet
their customers’ expectations due to inefficiencies arising out of
inadequate investment in technology and consequently faced an
erosion of their market shares.

Page 254
 It is revealed from the study that customer considered
availability of more products services, better customer relation,
convenient location of the banks, courteous behavour of
employees and availability of appropriate e-banking is most
important factors to open an account in State Bank of India.

 The future of e-banking is bright because in the coming days

majority of the customers will use e-banking system. In this
study majority of the respondents are agreeing that the future of
e-banking is bright. So this can be concluding that e-banking
will develop more in coming days.

 The foreign and private sector banks are far ahead of SBI
because they are providing innovative marketing services but
SBI are lacking because their employees are not ready to adopt
the changing environment and never take initiatives to provide
innovative services and uses of advanced technology.

 Majority of the respondents preferred their branch because of

convenience quality of service and popularity of branch were
given subsequent preference.

 The attitudes of managerial category towards the customers

were reasonably good in all banks.

Page 255
 Regarding the speed of transaction SBI branches were found
efficient. The salaried and pensioners group had better
satisfaction than other categories.

 Maximum positive responses were recorded regarding timely

opening and closing of branches.

 Minority of the customers expressed satisfaction with the space

available in the branches.

 Availability of other basic amenities like drinking water, seating

facility and fan facility, highest satisfaction was recorded among
banks’ customer groups but sanitary facility and availability of
reading materials were not found satisfactory.

 Nomination facility was availed by majority of the respondents.

It was found that the availability of nomination facility was not
properly displayed by the bankers. Very few respondents
received advice from bank staff to use nomination facility.

 Interest rate was not found as a major influencing factor in the

preference of bank deposits. On an average; respondents were
satisfied with the interest rates on deposits. Safety and liquidity
were ranked important by the customers.

Page 256
 The awareness level of sample respondents with regard to
deposit schemes of the banks showed that new schemes are not
known to many of the customers. Excepting the traditional loan
schemes; knowledge about new credit schemes was also poor.

 The analysis of the sources of awareness revealed that the bank

staffs were the most important source for customers.

 It was found that banks were not effectively using the strategy of
sending greeting cards on important occasions to build up
customer friendship.

 Very few respondents received investment advice from banks

and those received the same found it useful. Banks are not
taking advantage of their ability to guide the customers in their
investment decisions.

 Simplification of procedures and unnecessary paper work will

enhance customer satisfaction in future.

 In outdoor advertising and online marketing, private sectors

banks are more successful to spread awareness than SBI.

 The respondents look agrees with the statement that the

information provided by SBI is more reliable than private sector
banks because that is truer and complete.

Page 257
 SBI is more reliable but not so good in the quality and
innovativeness. Private sector is not considered so reliable,
there may be hidden charges in the services and false and
misleading information in the advertising but they are better in
the service quality.

 Private Sector banks are adopting more push strategies to

attract and catch the customers. This creates the difference
between promotional strategies adopted by SBI and Private
Banks.

 With increase in competition, the importance of quality services

in banking has gained paramount importance.

 Table No. 5.06.: 143 (47.67 %) respondents were selected

from saving account holders in SBI, followed by 85 (28.33 %)
respondents are opened current account in the bank, 33 (11 %)
respondents operate fixed deposit account with the bank, 21
(7 %) respondents are connected to the bank by way of recurring
deposit account and 18 (6 %) respondents opened account with
SBI for education loan purpose, pension purpose, students
accounts etc. The study concludes that maximum
number of respondent are highly in favour of opening
of saving and current account with SBI.

 Table No. 5.07. : Majority of the respondents i.e. 68 (22.67%)

opened their account with SBI before 5 years, followed by 58
(19.33%) respondents made transaction with the bank from 3

Page 258
 years, 51 (17%) respondents operate their account from 1-2
years, 48 (16%) respondents were selected from 4-5 years
account handling groups, 46 (15.33%) respondents were
operating their account from 3-4 years and only 29 (9.67%)
respondents had open their accounts in SBI just in one year’s
period. The maximum number of respondents operates
their accounts with SBI since more than four years.

 Table No. 5.08: The highest number of respondents i.e. 89

(29.67 %) told that it is compulsory to them to open an account
in SBI for salary purpose followed by 73 (24.33 %) respondents
opened their accounts in SBI for their business transactions,
13.67 (41 %) respondents went with SBI for secured investment
purpose, 39 (13 %) respondents opened their accounts for
saving purpose, 37 (12.33 %) respondents opened their accounts
in SBI for government payment i.e. various taxes, tenders,
challans, etc. and very less percentages i.e. 7 per cent only
opened their accounts for safe deposit lockers. The study
concludes that salary holders and business
community were more attracted towards SBI for
banking transactions.

 Table No. 5.09. : Out of 300 respondents 207 (69%)

respondents had taken loans from SBI; while 93 (31%)
respondent had not taken any loan from the bank. The study
concludes that maximum peoples open their accounts
in SBI for Loan purpose also.

Page 259
 Table No. 5.10. : Highest number of respondents i.e. 69
(33.33%) had taken personal loans, followed by 32 (15.43%)
respondents had taken term loan, 31 (14.97%) respondents had
taken housing loans, 24 (11.60%) respondents were from other
category, 19 (9.18%) respondents were selected from consumer
loans category and 17 (8.21%) respondents were selected from
cash credit loan category. The study concludes that
maximum customers have preferred personal and
Tern loan from SBI.

 Table No. 5.11. : Maximum number of respondents i.e. 115

(38.33%) come to the bank for ATM operations, followed by 64
(21.33%) respondents visited to the bank for amount
withdrawal purposes, 35 (11.67%) were under others category,
29 (9.67%) respondents’ purpose to visit the bank was for loan
operations, 27 (9%) respondents came to the bank for the
purpose of demand draft or money transfer, 19 (6.33%)
respondents had visited for deposits purpose and very less i.e. 11
(3.67%) respondents visited the bank for their lockers
operations. The study concludes from the table that
maximum number of customers visited the bank for
ATM operations.

 Table No. 5.12: 113 (37.67%) respondents have visited

generally once in a week, 71 (23.67%) respondents have come to
the bank twice in a week, 49 (16.33%) respondents visited the
bank daily, 36 (12%) respondents’ visits were once in a month,
23 (7.67%) respondents visited to the bank at twice in a month

Page 260
 and only 8 (2.66%) respondents used to visited rarely to the
bank. The study concludes that ATM operation have
reduced the direct visits of the respondents to the
bank counters.

 Table No. 5.13. Highest number of respondents i.e. 101

(33.67%) have given importance for safety measures, followed
by 61 (20.33%) respondents opened the account in SBI for
liquidity options, 51 (17 %) respondents attracted to the bank for
rate of interest purpose, 47 (15.67%) respondents opened
accounts in SBI for compulsory condition i.e. for salary,
pension, Govt. payment, etc. 29 (9.67%) respondents expressed
that easy banking operations are available with SBI, and 11
(3.66%) respondents were promoted by SBI employees to open
the account. The conclusions are made from the above
table that maximum number of respondents opens
their accounts with SBI for Safety and liquidity
purpose.

 Table No. 5.14. : 197 (65.67%) respondents have told that

banking hours and days are not suitable for them for banking
operations, while 103 (34.33%) respondents were satisfied in
this matter. The study concludes from the above table
that the respondents want to extend banking hours up
to 4.30 p.m. every day and holiday may be any day in
the week except Sunday.

Page 261
 Table No. 5.15. : Highest number of respondents i.e. 99 (33%)
were satisfied from banking officials followed by 89 (29.67%)
respondents were highly satisfied, 65 (21.67%) respondents
were dissatisfied and 47 (15.67%) respondents were highly
dissatisfied. The study concludes on the basis of table
that maximum number of respondents (89+99= 188
(63%) were satisfied about the courtesy of SBI counter
officials.

 Table No. 5.16. : 153 (51%) respondents have told that their
SBI branch is technologically updated while 81 (27 %) were not
satisfied with the technologically up-gradation factor of the
bank, remaining 66 (22 %) respondents were not having
knowledge about the technologically advancement of the bank.
The study concludes from the table that the maximum
number of respondents was satisfied about
technological advancement of the bank.

 Table No. 5.17: 134 (44.67%) respondents told that bank

officials have taken appropriate time for completing the
transactions, 117 (39 %) respondents expressed that more time
was taken by the employees for completing the transactions
while only 49 (16.33 %) respondents told that the transaction
is completed within promised time. It is concludes from the
table that maximum respondents are satisfied for
time taken by bank officials for completing the
transactions.

Page 262
 Table No. 5.18: 197 (65.67%) respondents were having ATM
cards while yet 103 (34.33%) respondents were not having ATM
card facility. It is concluded from the study that the
increasing number of bank customers are using ATM
card for their banking operations.

 Table No. 5.19. : 91 (46.19%) respondents were having Debit

Card, followed by 59 (29.95%) respondents were using Credit
Cards, 26 (13.20%) respondents were having both Debit and
Credit cards and 21 (10.66%) respondents were having Kisan
cards of SBI. The study concludes that maximum
numbers of respondents were using Debit cum
shopping card of SBI which is very popular product of
SBI among the customers.

 Table No. 5.20: Out of the selected 300 respondents 103

respondents were not having ATM cards. Remaining 130
(43.33%) respondents were told that ATM centers were opened
for 24 hours in a day or all days in a week; while 67 (22.33%)
told that ATM centers were not opened 24 hours and all days in
a week. The study concludes that SBI ATM centers were
opened for customers’ services for maximum times in
a week.

 Table No. 5.21. : Maximum number of responded i.e. 93

(31%) have told that the bank officers contact them for the
purpose of banking service, followed by 79 (26.33%)
respondents were not contacted during the year for any reasons,

Page 263
 47 (15.67%) respondents told that for the various loans products
SBI bank employees contacted them, 39 (13%) respondents told
that bankers have made the contact with them for new
investment products of the bank, 32 (10.67%) respondents were
advised by the bank officials during the year, only 6 (2%) and 4
(1.33%) respondents told that their SBI officials contacted them
for festival and birthday wishes respectively. The study
concludes that the bank officials were not contacting
to their respective customers for festival or birthday
wishes while private banks are taking more efforts in
this direction.

 Table No. 5.22. : Maximum respondents’ i.e. 57 (28.93%) told

that their SBI bank ATM services is not available to their
nearest place therefore they were using another bank’s ATMs
for withdrawal of money, next highest number of respondents
i.e. 39 (19.80%) faced a major problems that over rush at the
ATMs. There was a long queue before ATM centers and a lot of
time wasted for completing the transactions, 29 (14.72%)
respondents told that very serious problems they have faced
that most of the times cash was not available in the ATM
machine and number of visits were made for this purpose or
increased their waiting time. 25 (12.69%) respondents told that
when they visited to ATMs for withdrawal of cash a mini board
displayed before ATMs that the ATM machine closed for
repairing, 24 (12.18%) respondents told that the distance of
ATMs is very long and 23 (11.68%) respondents complained
that the ATM machine closed for banking operations for most of

Page 264
 the times when they visited. So number of complaints is their
related with the ATMs. The study concludes that
maximum number of respondents holding SBI cards
were using another bank’s ATM for cash withdrawal
and some another were faced over rush at ATM
centers.

 Table No. 5.22. : 90 (30.67%) respondents told that SBI bank

officers sincerely listen their complaints and tried to solve it
immediately, followed by 87 (29%) respondents told that bank
officers were not sincere to solve their complains, 81 (27%)
respondents realized a very good response for their complaints
from bank officers and 40 (13.33%) respondents told that most
of the bank officers neglected their problems. The study
concludes that every complaint of a customer
provides an opportunity to correct the deficiency and
lapses. It is the duties of bank officers to listen
carefully of customers complains and try best to solve
it within a short time.

 Table No. 5.24. : 291 (97%) respondents told that passbook or

bank statement facility was provided by bank, followed by 218
(72.67%) respondents expressed that the cheque collection box
is available at branch office, 149 (49.67%) respondents gave
their answer that ATM facility is provided by their branch, 119
(39.67%) respondent told that any where banking facility is
provided to them, 78 (26%) respondents were using online
marketing through their SBI accounts, 77 (25.67%) respondents

Page 265
 gave very innocent answer that they don’t know about the
various banking services other than their bank operation with
their account, 34 (11.33%) respondents told that they have been
provided fund transfer facility by the bank, 33 (11%)
respondents told that the SBI bank officers call or informed
them for various bank transaction, 31 (10.33%) respondents
were using net-banking facility and 29 (9.67%) respondents
availed mobile banking facility provided by the bank. The
study concludes that very less number of respondents
were using modern marketing services of the bank i.e.
mobile banking, net banking, online marketing,
anywhere banking etc.

 Table No. 5.25. : 143 (47.67%) respondents don’t know about

the various services and products offered by the SBI while 157
(52.33%) respondents gave the positive answer. The study
concludes that the information about the banking
services and products of SBI are not reached to all its
customers.

 Table No. 5.26: 221 (73.67%) respondents were not watching

the SBI’s website; while 79 (26.33%) respondents were watching
the website regularly and got the information about the banking
services and products. The study concludes that bank has
not convinced to its all the customers to watch the
websites of the bank for its all products and services.

Page 266
 Table No. 5.27: 117 (39%) respondents told that the
advertisement made by SBI is very attractive while 89 (29.67%)
respondents told that there is no attractiveness found in SBI’s
advertisement and there was no any opinion about this from 94
(31.33%) respondents as they don’t have interest to watch or see
the advertisement of the bank. The study concludes that
bank must take more efforts for attractiveness of its
advertisement.

 Table No. 5.28. : 145 (48.33%) respondents told that no

Customer awareness programmes were conducted by the bank,
while 47 (15.67%) respondents had joined e-banking awareness
programme conducted by bank and 108 (36%) respondents told
that they don’t have any information about the e-banking
programme or they did not receive any information from the
bank. The study concluded that e-banking based
customer services programmes was conducted by the
bank at district place only, no any programmes were
conducted in rural or semi-urban areas by the bank.

 Table No. 5.29. : Maximum number of respondents’ i.e. 245

(81.67%) told that their branches provided fans and coolers
facilities in the premises of the bank, followed by 189 (63%)
respondents feels that good sitting arrangement provided by the
branches to the customers, 117 (39%) respondents told that
there was drinking water arrangement available in the bank, as
per the answers of 112 (37.33%) respondents; sanitary
arrangement is made available by the bank and only 75 (25%)

Page 267
 respondent expressed that reading material regarding banking
services or products are available them in the bank during the
transactions time. The study concludes that the bank
must provide better environmental facilities to its
customer.

 Table No. 5.30: 119 (39.67%) respondents expressed that

traditional banking system is very safe while 111 (37%)
respondents told that e-banking system is very safe as compared
to the traditional banking system. Remaining 70 (23.33%)
respondents were not sure for the system which is better; so
they were going with can’t say. The study concludes that
the bank should create awareness among the
customers about e-banking services.

 Table No. 5.31. : Most of the respondents 118 (39.33%) told

that media - news papers and TV is the most important source
of information about the various banking services, followed by
61 (20.33%) respondents used to update their information
about the services of banks banners displayed at bank premises
or ATM centers, 39 (13%) respondents were guided by their
friends and relatives, 32 (10.67) respondents used to read the
advertisement displayed outdoor of the bank which is mostly
located at the heart of the city, 29 (9.67%) respondents told that
the bank employees and officers was the source of information
about the services for them and 21 (7%) respondents receives
the information by telephone, mobile, e-mail etc. The study
concludes that the role of media is most important for

Page 268
 the source of information to the customer while the
role of bank officials and modern techniques is very
less in this area.

 Table No. 5.32: 92 (30.67%) respondents responded that

private banks are using more promotional activities as
compared to SBI followed by 79 (26.33%) respondents were
believed that SBI is provided better promotional activities, as
per the views of 78 (26%) respondents multinational banks are
using best promotional practices and 51 (17%) respondents
expressed that other Nationalized banks were superior in
promotional activities with compare to the SBI. Maximum
respondents think that the promotional efforts of multinational
and private sector banks are more effective than SBI. The
study concludes that Multinational and private banks
are ahead to SBI in promotional marketing activities.

 Table No. 5.33: Table No. 5.33 reveals the satisfactory level of
banking services. Regarding these services 109 (36.33 %)
respondents were fully satisfied, 77 (25.67%) were just satisfied,
71 (23.67%) were dissatisfied and 43 (14.33%) were fully
dissatisfied regarding banking services of SBI. The analysis
shows that quality of the services is the prime factor
for the development of the bank.

 Table No. 5.34: The table gives descriptive idea about the
attitude of banking officials experienced by the respondents. 86
(28.67%) respondents told that the attitude of bank officers is

Page 269
 not good, followed by 76 (25.33%) respondents experience was
best, 73 (24.33%) respondents ranked for good attitude and 65
(21.67%) told that they have experienced very bad attitude from
SBI officials. The study concludes that maximum
number of respondents have given negative answered
about the attitude of SBI bank officers and employees.

 Table No. 5.35: Out of 300 respondents 126 (42%)

respondents told that complain box is available in the bank
premises or ATM centers, while 87 (29%) respondent told that
complain box is not available and remaining 87 (29%) told that
they don’t have knowledge about the complain box. The study
concludes that complains box must be provided in
bank premises and ATM centers.

 Table No. 5.36. Maximum respondents i.e. 172 (57.33%) told

that no any customer survey is conducted by the bank, followed
by 87 (29%) respondents gave the positive answer and 41
(13.67%) respondents have no knowledge about customers
survey. The study concluded that all the branches of
SBI have not given the attention to the customer
survey.

 Table No. 5.37. : Maximum number of respondents i.e. 109

(36.33%) told that SBI branches charged high cost for its
products and services offered to the customers, followed by 89
(29.67%) respondents rated ‘very high charge’ and that’s why
they were not satisfied from the bank in this matter, only 53

Page 270
 (17.67%) respondents were in favour of bank that they told that
bank charged reasonable charges for its products and services
and 49 (16.33%) respondents expressed that they did not
compared bank charges to the another banks or they did not
think in this direction. The study concludes that bank
charged high cost of banking services to customers.

 Table No. 5.38 : In this study 47 (15.67%) respondents have

expressed their view to change the bank in future, 40 (13.33%)
respondents had not yet decided about the changing the bank
but Majority of the respondents (213) were not interested to
shift with other banks. The study concludes that
maximum number of customers showed the loyalty
with the bank and they did not want to change the
bank in future if the bank provided better services to
them.

 Table No. 5.39: Maximum number of respondents 193

(64.33%) ranked first to increase number of ATM machines to
avoid rush before the ATM centers, followed by 187 (62.33%)
respondents told that it is the need of time to increase in daily
banking hours and change the holiday (any day instead of
Sunday), 181 (60.33%) have expected friendly and fair attitudes
of bank employees and officers, 179 (59.67) respondents told
that most of the time ATM machine were closed for many
reasons; hence bank management has to improve the efficiency
of ATM machines, 177 (59%) respondents suggested that bank
should issue the booklets about the banking products and

Page 271
 services to the customers who regularly visit to the banks, 171
(57%) respondents expressed that bank employees should adopt
modern technology and by the way they may keep our mobile
numbers and send SMS to us about the banking products and
services or any new change in banking technology, 159 (53%)
respondents told that on the specific days there were too much
rush before the bank’s counter (Salary, Pensions, festival
occasions etc.) so on such specific days bank should open extra
counter for banking transactions. 152 (50.67%) respondents
expected better healthy environment in the bank i.e. availability
of seating, fans, drinking water, sanitary arrangements, reading
material, etc. in the bank premises. 150 (50%) respondents
suggested that bank should provide more security and reliability
in the ATM transactions / operations, 145 (48.33%)
respondents suggested for the attitude of employees about their
complains; they told that bank employees should take serious
attentions towards the complains.

21st Century banking has become wholly customer and technology

driven. During the last decade, technology has been dramatically
transforming banking in India. Driven by the challenges of
competition, rising customer expectations and shrinking margins,
SBI have been using technology to reduce cost and enhance
efficiency, productivity, and customer convenience. Technology
intensive delivery channels like Net banking, ATMs, Tele-banking,
mobile banking, Core banking etc. have rated a win-win situation
by extending great convenience and multiple options for customers
while providing tremendous cost advantages to banks.
Page 272
Suggestions:
The following suggestions were made for the improvement of
marketing services and strategies of State Bank of India.

 Banks are under no obligation to provide services to their

customers after the working hours. But generally the customer
feels that they should be provided such facilities when such a
need arises. If such a facility is provided to the customer, it will
add to their satisfaction and will improve the image of the bank.

 ATMs machines can be modified suitable to make them user

friendly for people who are illiterate, less educated or do not
know English.

 Every branch should try to improve the customer service to

delight the customers. These qualitative waves of services will
helpful to win the new potential customers and retain the old
customers.

 The banks should provide accuracy, reliability and security to its

customers and should maintain transparency in transactions
and services.

 It is observed that the problem of lack of knowledge regarding

new channels and how to operate and use these channels is a
major hindrance in the way of progress of e-marketing
channels. So firstly trained the employees about each and every
new concepts of e-marketing system only then they can provide

Page 273
 right information to the customers to make them aware about
these e-channels. Customer prefers to know anything better on
the counter so arrange demo for how to use e-channels at the
counter rather through advertisement in news papers and
televisions etc.

 All the branches of SBI may extend business hours for all
banking transactions except cash, up till one hour before close
of the working hours.

 It may be ensured that no counter remains unattended during

the business hours and uninterrupted service is rendered to the
customers.

 All braches should have ‘enquiry’ or ‘may I help you?’ counter,

either exclusively or combined with other duties, located near
the entry point of the bank.

 Information about nomination facility to be provided by bank

officials to customers. Publicity of nomination facility is needed,
including printing compatible massage on cheque book,
passbook and any other literature reaching the customer, as well
as launching periodical drives to popularize the facility.

 Issuance of statements of accounts and updating of pass books

with, correct and legible particulars should attract banks
constant attention.

Page 274
 Change in interest rates on deposit should be made known to
customers as well as bank branches by press notifications, based
on which branches should be enabled to accept deposit at new
rate provisionally, to be confirmed later, on receipt of official
communication.

 Customers should get expert’s guidance from bank, in their day-

to-day decision making about investment in deposit schemes,
etc.

 Regional language brochures and pamphlets should be actively

promoted, containing customer useful information.

 Training programmes should be in line with customer service

orientation.

 Quarterly Customer Relationship Programmes, to interact with

different cross sections of customers should be utilized for
identifying action points to upgrade the customer service.

 Report on customer service may be called for by the RBI. The

RBI may conduct evaluation studies on implementation of
customer service measure.

 Attractive infrastructure facilities at branches should be

upgraded, by bestowing particular attention to providing
adequate space, proper furniture, drinking water, sanitary
facilities etc.

Page 275
 Customer education programmes, wherein banks’ employees
should also, be involved may consist of advertisements
informative literature, interfaces, seminars, etc. with a view to
making the customers empathetic to banks limitations and
predicaments and appreciative of banks efforts to improve
customer service.

 Password system may be evolved to facilitate customer to get

answers to routine queries over the phone thus reducing
customer visits.

 Best branches from customer service point of view should be

rewarded by annual awards running shield.

 Times norms for specialized business transactions should be

displayed predominantly in the banking hall and to strictly
follow by employees.

 SBI should have adopted the effective and competitive

marketing strategies to survive in the high-tech banking
environment.

 In order to cope up with the new challenges, the SBI need to

emphasize on the following strategies:
o Greater and intense competition.
o Focus on efficiency, productivity and cost reduction.
o Superior risk management systems and practices.

Page 276
 o Strengthening service quality and delivery and cross selling
of products and services.
o Up gradation of technological infrastructure.
o Transparency, disclosure and market disciple.
o Opportunity to increase size and scale to gain dominance in
the local market and penetrate into the global market.
o There is also need for greater awareness of various products
and services offered by SBI in rural peoples.
o To manage the banking business, planning should be the
first step as it helps to complete every task especially to
provide customer services at the right time at right price and
by the right person.

 Knowledge management is an important aspect for today’s

banking business as the way of business is changing at every
hour and the customers demand for new information
immediately to satisfy the customer. Therefore; it is necessary to
update the knowledge of every employee.

 Bank should effectively introduce awareness programmes in its

operational area. This will help to a certain extent to eliminate
misunderstanding of the customers and they will cooperate with
the bankers in genuine system failures.

 Introduction of computers in all areas of banking is at great

extent reduced the customer complaints regarding delay in
routine transactions and clericals errors.

Page 277
 Environmental scanning should be done frequently to get in
touch with the changing life style of customers.

 Market research at branch level is more realistic and should be

encouraged to the maximum.

 Personal selling is preferred by the majority of the customers

surveyed and banks should equip their sales staff to meet all
such challenges.

 The foreign and private banks prefer deposits as a cheaper

mode of funds mobilization and advances as more profitable
utilization of funds, just because of their efficient marketing
strategies and sophisticated risk management.

 The most successful banks will be those that combine visionary

technology and competitive pricing with strong relationships
and brands built on trust with previous in depth experience of
the client business. Bank should adopt effective, practical and
competitive strategies to survive in the high tech banking
environment.

 Today the customers are demanding fast, accurate and reliable

services. The absorptions of technology, therefore, become
inevitable for the banks to enable them to respond to customers’
needs at all times and at competitive prices.

Page 278
 SBI must utilize relevant marketing concepts to promote
marketing orientation in planning, operations, communication
and modify existing strategies for attracting deposits on one
hand and quality borrowers and users of services on the other.

 Performance of any bank is possible only if they offer need

based and superior quality of services to their customer taking
in to consideration of needs of the customer, banks in every
country can design appropriate product and services.

 All branches should provide more and more e-channels. SBI

need to pay more attention in this matter.

 SBI need to pay immediate and prompt attention and offering

efficient services to the customers in Jalna District.

 SBI bank employees should pay high attention to their

customers and provide personalized service with a smiling face.
The frontline staff should be polite and cooperative.

 The SBI must have the policy of offering equitable or equal

treatment of customers for similar services.

 Core banking solutions must be expanded by all the SBI

branches.

 Overall satisfaction of a customer from his bank is very much

necessary because this is the only factor that helps any

Page 279
 organization to increase its business as a delighted customer
will always bring more customers whereas an unhappy
customer will drive away to more prospective customer.

 Enhancing the services quality is also becoming very important.

There are abundant opportunities are present in the market. It
needs only continuous upgrading and customer orientation to
be able those opportunities to a broad degree. Same is true for
banking industry because quality counts in services too.

 SBI are required to reorient themselves with the changing

environment in order to extend better service to all kinds of
customers as per the changing requirements coping with all
kinds of changes that are taking place in the environment and
banking sector.

 SBI needs to aforesaid challenges very effectively and efficiently

with a view to ensure the economic growth of the country.
Banking sector is still to render services to large section of the
society particularly in the rural areas. Opportunities are
immense for the SBI to expand their business. But confidence
must be built among the customers by overcoming those
challenges. Honest and sincere efforts from the bankers need to
be put to challenge those problems.

 CRM is a continuous process especially in banking sector and

with a proper demand specification, a great deal of time and
money can be saved based on realistic expectations of systems

Page 280
 capability and on the other hand a well operating CRM system
can be an extremely powerful tool for effective management of
customer needs and satisfaction.

 The expectations of the customers should be understood and

powerful strategies are to be implemented by the banks.

 The value of services provided should be measured in terms of

quantity and quality.

 The banks are going through a phase of young human resources

injected into the system in this way fresh ideas and new
technology can be adopted easily in the bank.

 Creation and delivery of services in tune with customer needs

and expectation is the best business strategy to be pursued by
banks so as to retain the existing customer base as also to add
new customers.

 The banks have to listen closely for what customers, employees

say about the bank.

 Constant striving for upgrading the quality of customer service

in order to win over and retain the customers on the basis of
service factor but not the price factor. This can be achieved
through systems, procedures and human touch.

Page 281
 Simplifying process is important to enhance customer delight.
The banks should continuously strive to enhance technology
and translate the advantages into customer convenience.

 The bank should have a very vibrant complaint management

system.

 Taking advantage of computerization and technological up-

gradation, banks need to develop a comprehensive customer
information system at branches so as to know the customer
better and understand his needs more accurately.

 Database on various aspects of customers like age,

qualifications, income levels, tastes and preference, etc. should
be created which will help in providing continuous feedback for
anticipating customer needs.

 The bank should believe that their product must provide best
value for money for their customer.

 The bank should know that excellent product of itself is not

sufficient for a customer; it needs to be backed by excellent
services.

 The bank effort at service excellence should be designed to

ensure that the customers are not just satisfied by delighted
with the bank.

Page 282
 Make all the employees up to date by providing every current
information for any aspect of banking services and products to
develop knowledge management concept.

 Every branch of SBI in Jalna District should try to improve the

customer services to delight the customers. These qualitative
waves of services will be helpful to win the new potential
customers and retain the old customers.

Globalization, liberalization and deregulation have resulted

in a sea change in the form of time and cost effective consumer
banking service. These competitive innovations have made bank
customers more concerned about their money value and
surrounding environment that leads to high customer expectations
from service providers. The commercial banks have to provide
quality service to their customers for survival, as well as to have
competitive advantage. The bank adopts modern banking
technology as a means to improve customer services. With the
involvement of both foreign and local banks the competition are on
its peak. So only improving the product is not enough to be
competitive in the market. Enhancing the service quality is also
becoming very important. There are abundant opportunities are
present in the market. It needs only continuous upgrading and
customer orientation to be able to avail those opportunities to a
broad degree. Same is true for banking industry because quality
counts in services too. The overall banking system works as the fuel
to speed up all round growth. If country’s banking system is strong
then its future will also be bright.
Page 283
 The findings of the study will be useful to the SBI to identify
various problems relating to internal marketing, external
marketing and interactive marketing and to develop relevant
policy framework with future orientation to serve the market better
than the competitors. The study will be useful for Bankers,
Research scholars, Academicians, Government officials and
Students of Commerce, Economics, and Business Management.

Future Areas of Intensive Research:

The banking sector is set to continue with tremendous
growth in future year. So; there is a need to study some important
aspects in this context to make the SBI sound:

 Quality of services in particularly fully IT oriented banks.

 E-banks and utility services.
 Occupation and age wise use of e-banking.
 E-banking and transaction costs.
 Extent of acceptance of e-banking.
 Impact of ATMs on banking business.
 Problems of employees to implements e-delivery channel.
 Feasibility and viability of e-banking based marketing
services in rural areas.

*****
Page 284
Page 285