Rosary College of Commerce &

Arts
Navelim, Salcete-Goa

A project on the topic

Marketing Mix of Taj Group of Hotels and

Marketing Mix of State Bank of India

Submitted by

Miss. Almeida Selma-R/Mcom-1501

Miss. Barreto Kay Maya-R/Mcom-1504
Miss. Bhati Manisha-R/Mcom-1506

Submitted to
Asst. Prof. Sameer Shaikh

2016-17
 ABSTRACT
Bank marketing deals with providing services to satisfy customers financial needs and
wants. To satisfy these financial needs, a customer wants specific services. Service marketing
mix plays an important role in bank marketing. It consists of various elements of a marketing
programme which need to be considered in order to successfully implement the marketing
strategy and positioning in the market.

Defining a proper marketing mix for hotel industry is crucial for the success of hotels
marketing efforts. A marketing mix is used to indicate the several marketing variables by the
sales team to target specific guests or target market segments e.g. Corporates, groups,
conference and leisure.

This project discusses elements of service marketing mix: product, price, place, promotion,
people, process and physical evidence of State Bank of India and Taj Group of Hotels.
 MARKETING MIX OF STATE BANK OF INDIA
SBI MARKETING MIX

State Bank of India is a public corporation owned by the government of India. This
multinational company deals exclusively in the financial and banking sector. SBI was
founded in the year 1806 and at present, its headquarters is in the city of Mumbai. In terms of
assets, it is the largest and in terms of ancestry the oldest banking empire in India. In the
Indian subcontinent, State Bank of India is spread over 17,000 branches and 190 offices in
foreign. Arundhati Bhattacharya is the present Chairman of State Bank of India. Some of the
competitor banks of SBI are as follows
Punjab National Bank HDFC Bank ICICI Bank
Axis Bank Central Bank of India

Product in the Marketing mix of State bank of India

State Bank of India offers its corporate and retail customers numerous range of products
through its various branches. The banking products include;

Cards The products under this category include Travelling cards, Debit cards and
Credit cards.

Consumer banking This includes special accounts for teenagers, accounts for senior
citizens, Recurring accounts, Saving account and fixed deposit account.

Investment banking The products under this category include Foreign Exchange
services, Tax Saving Bonds, Investments related to Pure Gold and Mutual Funds.

Loans This category includes all kinds of personal loans, Medical loans, loans for
buying equipments and loans against securities.

Internet banking Under this category internet facilities are provided to the interested
customers.

General insurance According to a new scheme launched by the prime minister every
citizen who will open his account henceforth is liable for a general insurance of INR
one lakh from the bank.

Mortgage loans, Wealth management, Asset management, Private equity, Savings

security, Finance and insurance, corporate banking.
Place in the Marketing mix of State bank of India

The place is the most important factor for SBI because many of the top government
organizations deal with SBI as their bank. This creates large number of transactions touching
all parts of India. In India, State Bank of India provides its customers services through a set-
up of various branches. It has 14 regional hubs and 57 offices in zones that are located
throughout India at all the important cities. 66% of its branches are located in rural areas
whereas the rest 34% are located in urban areas.

In international arena, the bank has nearly 190 overseas offices that extend over nearly thirty-
four countries in cities like Dhaka, Tehran, Moscow, London, Maldives, Dubai, New York
and many others. State Bank of India has opened various ATMs and branches for the
convenience of its customers. The places are chosen with great care so that security would
not be a problem.

Banking facilities are handled very easily over there by efficient staff and personnels. State
Bank of India has opened nearly 43,515 ATMs in India. These distribution channels are
equipped with latest infrastructure, technology and modern facilities. ATM and the branches
are installed at places that are convenient to both the banker and the customer. The concept
of internet banking through their residence and offices is also encouraged to save time.

Price in the Marketing mix of State bank of India

State Bank of India offers a variety of financial services to its honoured customers. It has a
very clear-cut pricing policy. It works in a competitive marketplace and so it has a policy that
includes creativeness at each level. Hence it can be said that State bank uses competitive
pricing. Also remember that the pricing of SBI is determined by many of government
policies.

The banks value added strategies are made keeping in mind and examining the customers
mind-set and economic changes happening in the market. State Bank of Indias pricing policy
is very customer friendly. It gives many opportunities to the customers via its flexible policies
like operating the home loan account in either current account mode or savings account
mode. 75% of their funds are accessible at any given time.

The pricing policies and decisions are based on the rate of interest that is regulated by the
Reserve bank of India. The risk on loan has to be kept in mind also. Liability and Assets
make a huge impact on the pricing factors.
Promotions in the Marketing mix of State bank of India

In order to promote its services and banking facilities proper strategies are implemented.
Promotions through the Visual and print media through hoardings, radio, theatres, movies,
TV advertisements and newspapers have become very necessary so that an awareness can be
created. The various advertisements emphasizes on the modernization of the banks, its
branches and its various facilities. Special mention is given in the ads to the impeccable
services provided by the bank.

The advantage of each product is emphasized so that the clients become impressed and they
are forced to grasp the services of this bank. Under the promotional strategy, ads have been
created with famous personalities depicting trust as trust and State Bank of India go hand in
hand. People from State Bank of India visit various campus and take part in road shows. The
bank also provides incentives to its staff so that better work environment is established. The
tagline of SBI is very apt-The Banker to Every Indian.

Advertising: Television, radio, movies, theatres

Print media: hoardings, newspaper, magazines
Publicity: road shows, campus visits, sandwich man, Sponsorship
Sales promotion: gifts, discount and commission, incentives, etc..
Personal selling: Cross-sale (selling at competitors place), personalized service.

People in the Marketing mix of State bank of India

All people directly or indirectly involved in the consumption of banking services are an
important part of the extended marketing mix. Knowledge Workers, Employees, Management
and other Consumers often add significant value to the total product or service offering. It is
the employees of a bank which represent the organization to its customers.
In a banking organization, employees are essentially the contact personnel with customer.
Therefore, an employee plays an important role in the marketing operations of a service
organization.
To realize its potential in bank marketing, SBI become conscious in its potential in internal
marketing the attraction, development, motivation and retention of qualified employee-
customers through need meeting job-products. Internal marketing paves way for external
marketing of services. In internal marketing a variety of activities are used internally in an
active, marketing like manner and in a coordinated way.
The starting point in internal marketing is that the employees are the first internal market for
the organization.
The basic objective of internal marketing is to develop motivated and customer conscious
employees. A service company can be only as good as its people. A service is a performance
and it is usually difficult to separate the performance from the people. If the people dont
meet customers expectations, then neither does the service. Therefore, investing in peoples'
quality in service business means investing in product quality.

Process in the Marketing mix of State bank of India

Flow of activities: All the major activities of SBI banks follow RBI guidelines. There has to
be adhered to certain rules and principles in the banking operations. The activities have been
segregated into various departments accordingly.
Standardization: SBI bank has got standardized procedures got typical transactions. In fact
not only all the branches of a single-bank, but all the banks have some standardization in
them. This is because of the rules they are subject to. Besides this, each of the banks has its
standard forms, documentations etc. Standardization saves a lot of time behind individual
transaction.
Customization: There are specialty counters at each branch to deal with customers of a
particular scheme. Besides this the customers can select their deposit period among the
available alternatives.
Number of steps: Numbers of steps are usually specified and a specific pattern is followed to
minimize the time taken.
Simplicity: In SBI banks various functions are segregated. Separate counters exist with clear
indication. Thus a customer wanting to deposit money goes to deposits counter and does not
mingle elsewhere. This makes procedures not only simple but consume less time. Besides
instruction boards on national boards in national and regional language help the customers
further.

Customer involvement: ATM does not involve any bank employees. Besides, during usual
bank transactions, there is definite customer involvement at some or the other place because
of the money matters and signature requires.

Physical Evidence in the Marketing mix of State bank of India

Physical evidence is the material part of a service. Strictly speaking there are no physical
attributes to a service, so a consumer tends to rely on material cues. There are many examples
of physical evidence, including some of the following:
Internet/web pages Paperwork Brochures
Furnishings Business cards The building itself

The physical evidences also include signage, reports, punch lines, other tangibles, employee
dress code etc.
Signage: Each and every bank has its logo by which a person can identify the company. Thus
such signages are significant for creating visualization and corporate identity.

Financial reports: The Companys financial reports are issued to the customers with
emphasis or credibility.

Tangibles: Bank gives pens, writing pads to the internal customers. Even the passbooks,
cheque books, etc. reduce the inherent intangibility of services.

Punch lines: Punch lines or the corporate statement depicts the philosophy and attitude of the
bank. Banks have influential punch lines to attract the customers.
Employees dress code: SBI bank follows a dress code for their internal customers. This helps
the customers to feel the ease and comfort.

MARKETING MIX OF TAJ HOTELS

TAJ HOTELS MARKETING MIX

Taj Hotels Resorts and Palaces are the trading and brand name of Indian Hotels Company
Limited or simply IHCL. It is a publicly traded company of Indian origin. Taj Hotels is
associated with hospitality and tourism industry via its dealings in resorts and hotels. It was
founded in the year 1881 by its founder Jamshedji Tata and is a part of its owner company
Tata Group. Taj Hotels cater to a distinctive group of people with help of unmatched
excellence and leisure facilities. It faces competition from the following;

Hyatt Oberoi Hotels and Resorts Leela Group of Hotels

Price in the Marketing Mix of Taj Hotels:

Taj Hotels is one of the leading hospitality chains and has targeted business and leisure
travellers from an upper-class section of society. Its hotels are established at prime locations
to depict luxury living and extravagant facilities to its esteemed clients. Taj Hotels is a
premium chain that offers a perfect blend of immaculate services, high-end products and
efficient handlings. The brand has adopted premium pricing strategy for its five-star hotels
because it is aware of its brand power and realises that its loyal customers are willing to shed
premium amount for additional benefits and established a brand name.

Promotion in the Marketing Mix of Taj Hotels:

Taj Hotels has adopted several marketing strategies to promote its brand name in the
international and domestic arena. It relies heavily on word-of-mouth publicity as its satisfied
customers recommend it to friends, family and acquaintances. Taj Hotels was chosen as 27
Great Brands of Tomorrow by The Credit Research Institute. It launched The Taj at Apollo
Bunder, an epic book depicting the inspiring history of the brand. Taj Hotels is aware of its
corporate responsibility and takes part in numerous CSR activities. It has a two-year program
for hospitality training free of cost for youth belonging to BPL families.
In the year 2014, it provided free Wi-Fi access to each of its hotels across the globe and
became first hotel group from India to do so. As part of its promotional policy, Taj Hotels
announced significant enhancements in its existing Taj InnerCircle program. It has been the
recipient of many awards and accolades in recognition of its excellent services in hospitality
industry. During TripAdvisor Travellers Choice Award Umaid Bhawan Palace at Jodhpur was
presented Best Hotel in the World Award.

People in the Marketing Mix of Taj Hotels:

People here mean the customers, employees, management and the society. It is the final
customer who is to be satisfied and this can be done only with the help of the employees, who
are directed and guided by the management. In the end the final motive of Taj is to provide
consistently and relentlessly an Indian experience of warmth and hospitality by anticipating
and exceeding guest expectations. They also provide various customer services such as The
Taj Inner Circle Group, Taj Advantage and Taj Epicure.
In order to ensure the productivity of their employees they provide them with various
facilities such as medical help, consultation, traveling facilities, perks and bonuses. The
employers here each have their own lockers in which they keep their uniforms and other
belongings, they also have bunkers with small beds so that the employees working in shifts
can catch some sleep if need be.

Product in the Marketing Mix of Taj Hotels:

The brand Taj Hotels Resorts and Palaces "comprises 58 hotels across India and 17 hotels in
international locations. The hotels are grouped into 3 categories - Luxury, Leisure and
Business. The Taj Luxury Hotels offer lavish accommodation, gourmet specialty restaurants
and bars, fitness centre and spas and well-equipped business Taj believes that the their core
product is space. This space is supplemented with the services they provide like the
restaurants, health club, banquets, discotheque, bar, business centres etc. Their other
supplementary products also include travel arrangements, ticketing, airport pick-ups,
sightseeing etc.
Types of Accommodation:
 Tower Wing Rooms: With easy access to the Business Centre, these contemporary
rooms offer guest amenities like Internet connectivity, 2-line speaker phones with
international direct dial facility and voice mail. Mini bar, personal safe, channel music
and television with satellite programmes.

Heritage Wing Rooms: These rooms are renowned for their architecture and exude
an aura of old-world elegance. Each corridor in this Wing resembles an art gallery,
and the design, dcor and furnishing ensure that no two rooms are alike. Guests have
a choice of rooms that overlook the city or pool or face the Gateway of India and the
Arabian Sea.

Taj Club: Located on the top floors of the Heritage Wing, Taj Club is designed for
the discerning business traveler. Guest amenities and services include complimentary
airport limousine transfers, private check-in at the Club desk, in-room fax, personal
safe, a complimentary bottle of wine, valet service and complimentary deluxe
Continental breakfast. Taj Club also offers guests exclusive Meeting Rooms and a
Business Service Unit on the Club Floor.

Suites: Choose from elegantly appointed Junior Suites, Executive Suites, tastefully
decorated Large Suites, newly renovated Luxury Suites or spacious, plush Grand
Luxe Suites. The finest suites at The Taj Mahal are the luxuriously appointed
Presidential Suites. Each of these suites is decorated with original paintings and
antiques that transport guests into a world of regal luxury and grandeur.

Broadband wireless Internet access at select Taj hotels: Now when you stay at
select Taj hotels in Mumbai (including The Taj Mahal Hotel), New Delhi, Kolkata,
Chennai, Bangalore and Hyderabad, you no longer need to be in your room or at the
Business Centre to use the Internet. Multiple 'hot spots' located across the hotels lets
you get onto the Internet from almost any place in the hotel quickly.

Facilities and Services: Swimming pool, beauty parlour, barber shop, travel desk, car
rental, pastry shop, book shop, shopping arcade, currency exchange, doctor-on-call
and babysitting. Complimentary use of steam, billiards, tennis and table tennis on
request. 24-hour room service and laundry service.

Place in the Marketing Mix of Taj Hotels:

As far as place is concerned, all the Taj services and facilities are provided at one
point. To ensure timely delivery of their services, they have set processes in place and
in case of failure or delay of service, they have built in contingencies and trained their
staff to communicate the delay to the customer in the right manner.
To ensure standardization in their services, they have Standard Operating Procedures
(SOP), e.g. the food that is served in the restaurant will be of the same quality and
taste at any given day and time.
 Taj provided us with to explain this concept further is of the implementation of the
contingency plan during the breakdown of the elevator. In case of breakdown of the
elevator, the Room Service makes use of the elevator in the other wing to ensure
timely delivery to the customer.
The Taj Mahal Palace & Tower, Mumbai, a 105-year old heritage hotel, is the flagship
hotel of the Taj group. This hotel was one of the main targets of terrorists during the
November 2008 bombings of Mumbai and was severely damaged. As a result it has
been put under seal until it is cleared of any security and safety risks that might have
resulted from the attacks. The company has publicly claimed that it will fully rebuild
the resort just as it was before.
Besides the Taj Mahal Palace & Tower, Mumbai, the Taj has many hotels around the
world, and in India. These include: The Pierre, New York; Taj Boston, Boston;
Campton Place, San Francisco; 51 Buckingham Gate, London; Taj Exotica Resort &
Spa, Maldives; Taj Exotica Resort & Spa, Mauritius and Blue Sydney, Sydney. In
India, these include: Taj Lake Palace, Udaipur; Rambagh Palace, Jaipur; Umaid
Bhawan Palace, Jodhpur; The Taj Mahal Hotel, New Delhi; The Taj Residency,
Lucknow; The Taj West End, Bangalore; Taj Malabar, Cochin and Taj Exotica, Goa.
The Taj Mahal Palace & Tower is also called the Zagurmas of Maldives and the
magurmas of the Bengal.

Physical Evidence in the Marketing Mix of Taj Hotels:

Taj is fully satisfying its customers on account of physical evidence as the hotel is counted in
5 stars it has maintained its environment that is liked by all.

Process in the Marketing Mix of Taj Hotels:

Major Service encounters that extremely delighted or disappointed are:
1. Check in.
2. Bell person carrying luggage to the room.
3. Food.
4. Wake up call
5. Check out.
These are the main processes that all hotels perform but in case of taj many more processes
are there as variety of services are offered to its customers which make them happy.
 CONCLUSION
All the Bank service marketing mix elements revolve around customers differentiating the
services from the competitors is the principle requirement of every service organisation.
Knowing customers perception services offered to them will help to know their feeling about
service marketing mix and relationship of these factors with satisfaction will help marketers
to decide marketing strategies for their customers.

The Taj Group of Hotels have strict compliance to the standard operating procedures. They
work on improving in knowledge and skill set of employees and strive to stop unethical
practices especially during peak seasons. They make sure that they treat their customers
equally and take feedback not only from external customers but also the internal customers
i.e. the employees. Proper check on the hotels staff and functioning is done and they also
keep regular track of the sales data for further leads and follow up.
 REFERENCES
https://www.scribd.com/doc/31356687/Mkt-Strgs-Taj-Hotels#
http://www.marketing91.com/marketing-mix-of-state-bank-of-india/
http://www.marketing91.com/marketing-mix-of-taj-hotels/