CHAPTER 5

FINDING SUGGESTIONS AND CONCLUSION:

SUGGESTIONS:
1) INNOVATION: S.B.I. in its own capacity can try to use innovative ideas to increase
its customer base through different modes of advertising. However, everything said and
done, R.B.I. intervenes in any kind of agressive marketing campaigns by any bank. Thus
S.B.I. should make sure, that they do advertise their loans in an innovative manner. The
innovation which they did was to put their employee directly at the place where they
wanted to offer loans and finance the customer and enable him to complete the purchase.
For instance, S.B.I. in its target areas has strategic tie-ups with say car showrooms and
the customers who want to purcahse cars are approached by S.B.I. loans team, this proves
to be a win-win situation for both the S.B.I. bank and the car showroom as well.
2) AD ZONES: S.B.I. may also try to advertise its loans in several modes of
transportation and transport terminuses such as buses, trains and bus terminus, railway
stations respectively.
3) REFERRAL: S.B.I. could try to bring out referral schemes to attract more customers
to their bank, such as 1 % waiver in the interest amount in that particular month where
the existing customer brings a new customer who has all requirements and also the
elegibility to avail the loan.
4) OPTIMUM UTILIZATION OF RESOURCES: S.B.I. has the potential to put all its
resources into optimium utilization, this could happen when they choose a particular
window or season where they can plan accordingly in proportion to the demand of the
service instead of launching their marketing campaigns in an unplanned way. It should
also make sure that it follows all the rules, regulations and guidelines set by R.B.I. .
5) CROSS SELLING: Cross Selling can be used as effective tool to retain its customers.
Cross selling is a process where a customer is given an opportunity where he would be
given an alternative to avail another service from the same service provider. For instance,
in S.B.I. bank, an S.B.I. Insurance agent will be stationed to advertise about the various

policies offered by S.B.I. in insurance area. Likewise, in case if that same customer
needs another loan from S.B.I. he/she may very well use S.B.I. life insurance policy as
collateral for the bank to avail the loan. In this situation, it once again a win-win
situation for the bank and insurance company.
CONCLUSION:
1) CUSTOMER SERVICE: There has been a rapid improvement in the area of
customer service which used to be the biggest concern for S.B.I. when private banks were
given the licenses to compete with them, however given the modernization as well the
integration of bank with technology, it was possible for S.B.I. to revamp its own style of
working to offer customer tailored services in order to cater to their customers' needs.
2) SOCIAL MARKETING: S.B.I.'s social marketing wing has been quite a
revolutionary relevation, also given the fact, S.B.I. can enhance its ability to reach to their
target customer as social media such as Facebook offers them the scope where they can
choose their target adience to whom they want their ads to reach. However, this type of
facility is highly impossible when it comes to advertising in print media.
As going by the saying "Early bird catches the flight" S.B.I. realized this and now it is
the second largest popular Indian bank in social networking site of Facebook with around
4 lakh likes.
3)BRAND IMAGE: Brand Image has so far been one of the unique factors which had
given an edge of solidity when compared to other commercial banks. Similar to it's name
- People's bank of India is the one which caters to various loan and credit facilities for
various host of purposes,from S.M.E., Agricultural & Rural, Corporate & Industrial, PSegment loans and so on, S.B.I. had stamped trust and conviction not only in the hearts of
its customers but also in the hearts of general public of India.
4)COMPETITIVENESS:Competitiveness is one of the new found terriotry where S.B.I.
saw and conquered. Here's why S.B.I. is percieved to be the most competitve bank when
it comes to car loans:
1)Lowest Car Loan Interest rate in the market - 9.70 % w.e.f October, 2015.

2)Zero processing fee w.e.f. September, 2015.

3)Zero penalty on pre-closure of loan.
4)Zero penalty on pre-closure with no ceiling limit(S.B.I. 's competitors such as Axis and
HDFC banks have certain ceiling limts in regard with pre-closure of loan).