TERM PAPER

OF

SERVICE MARKETING

ON

CITI BANK

SUBMITTED TO SUBMITTED BY

Ms. SAVITA ANCHAL GUPTA

(LECT IN MGT) LSB RR1810B37

10811778 (MBA)

GROUP – G3
EXECUTIVE SUMMARY

The objective of this project is to analyse the services of CITI BANK. For the company to
compete successfully and to retain the first position in among banking companies, it needs to
understand the general public perception and feedback so as to provide them the best
products and services to in order to compete with others and to be the market leader.

This term paper helps to know about the services provided by the CITI BANK and also the
price charged by the CITI BANK for its services. This report also include the service gap
model I Gap refers to the difference between customers’ expected service and management’s
perceptions of customers’ expectations. This gap means that management may not correctly
perceive customer expectations.

II Gap - refers to the difference between management perceptions of customers’ expectations

and service quality specifications. This gap means that although the people in management
level may perceive the correct expectations of the customers, they may not have suitable and
sufficient service quality specifications.

III Gap - refers to the difference between service quality specifications and the real service
delivery. This gap means that although the service providers may have suitable and sufficient
service quality specifications, they may not have the satisfactory service delivery in the real
situation. That may be because service providers lack well-trained employees to deliver
satisfactory service.

IV Gap - refers to the difference between the service delivered and external communication
about the service with customers. That is, the service providers may not have suitable and
sufficient communication with the customers or the service providers may have
commitments that exceed what they can do or they may not sufficiently inform the customers
of what they have done.
V Gap - is the difference between consumer expectation and their perception of service
quality - measured by the difference between what customers expect and what customers
perceive about the service.

The report also include the customer expectations towards the CITI BANK. How the
customer get satisfied from the bank. The report also include the segmentation of the CITI
BANK services which include

The report also presents the service blueprint of the citi bank which is helpful to know the
services provided by the citi bank. The report also includes the full description of the CITI
BANK. And the marketing mix of the citi bank which is consist of 7p’s of the service
marketing. And also include the IMC plan of the CITI BANK.

So at last I can say that this report is the encyclopedia of the CITI BANK services.
 INTRODUCTION OF CITI BANK

Following its merger with the First National Bank, the bank changed its name to The First
National City Bank of New York in 1955, then shortened it to First National City Bank in
1962.

The company organically entered the leasing and credit card sectors, and its introduction of
USD certificates of deposit in London marked the first new negotiable instrument in market
since 1888. Later to become part of MasterCard, the bank introduced its First National City
Charge Service credit card - popularly known as the "Everything Card" - in 1967.[8]

During the mid-1970s, under the leadership of CEO Walter B. Wriston, First National City
Bank (and its holding company First National City Corporation) was renamed Citibank, N.A.
(and Citicorp, respectively). By that time, the bank had created its own "one-bank holding
company" and had become a wholly owned subsidiary of that company, Citicorp (all
shareholders of the bank had become shareholders of the new corporation, which became the
bank's sole owner).

The name change also helped to avoid confusion in Ohio with Cleveland-based National City
Bank, though the two would never have any significant overlapping areas except for Citi
credit cards being issued in the latter National City territory. (In addition, at the time of the
name change to Citicorp, National City of Ohio was mostly a Cleveland-area bank and had
not gone on its acquisition spree that it would later go on in the 1990s and 2000s.) Any
possible name confusion had Citi not changed its name from National City eventually
became completely moot when PNC Financial Services acquired the National City of Ohio in
2008 as a result of the subprime mortgage crisis.

Automated banking card

Shortly afterward, the bank launched the Citicard, which allowed customers to perform all
transactions without a passbook. Branches also had terminals with simple one line displays
that allowed customers to get basic account information without a bank teller. When
automatic teller machines were later introduced, customers could use their existing Citicard.
Credit card business

In the 1960s the bank entered into the credit card business. In 1965, First National City Bank
bought Carte Blanche from Hilton Hotels. However after three years, the bank (under
pressure from the U.S. government) was forced to sell this division. By 1968, the company
created its own credit card. The card, known as "The Everything Card," was promoted as a
kind of East Coast version of the Bank America. By 1969, First National City Bank decided
that the Everything Card was too costly to promote as an independent brand and joined
Master Charge (now MasterCard). Citibank unsuccessfully tried again in 1977–1987 to
create a separate credit card brand, the Choice Card.

John S. Reed was selected CEO in 1984, and Citi became a founding member of the CHAPS
clearing house in London. Under his leadership, the next 14 years would see Citibank
become the largest bank in the United States, the largest issuer of credit cards and charge
cards in the world, and expand its global reach to over 90 countries.[8]

As the bank's expansion continued, the Narre Warren-Caroline Springs credit card company
was purchased in 1981. In 1981, Citibank chartered a South Dakota subsidiary to take
advantage of new laws that raised the state's maximum permissible interest rate on loans to
25 percent (then the highest in the nation). In many other states, usury laws prevented banks
from charging interest that aligned with the extremely high costs of lending money in the late
1970s and early 1980s, making consumer lending unprofitable.

Automatic teller machines

Citibank was one of the first U.S. banks to introduce automatic teller machines in the 1970s,
in order to give 24-hour access to accounts. Customers could use their existing Citicard in
this machine to withdraw cash and make deposits, and were already accustomed to using a
machine with a card to get information that previously required a teller.

In April 2006, Citibank struck a deal with 7-Eleven to put its automated teller machine
(ATMs) in more than 5,500 convenience stores in the U.S. In the same month, it also
announced it would sell all of its Buffalo and Rochester New York branches and accounts to
M&T Bank.
4 CHARACTERISTICS OF BANK

1) INTANGIBILITY:

A person who is new to a bank and wants to open up an account in the bank cannot feel or
taste it and ascertain whether the bank is good or bad before opening an account. He has to
experience it, feel how the service is, how humbly do people or the staff members behave
with him, is his money invested or put in a safe account or not. It is only then he would come
to know about the services. Financial services are generally intangible but the service
providers go to considerable lengths to tangibilise the service for customers. Regular bank
statements, credit cards, and insurance policy are all example of the way in which the
banking services are presented to the customer. They can enhance the image of the service
and the provider can bestow status or implied benefits upon the user as with a gold carpet.
Physical reminders of the service product, brand name and value serve to reassure the
customer and help the banks positioning.

2) INCONSISTENCY:

This refers to variability that a company or an organization may depend on Inconsistency.

For a bank, a new customer may not get the same type of service as much as a regular
customer may get. This may be the case because the staff members know the person well as
he comes often but they don’t know that person who does not come in again and again. Also
another point for inconsistency is that the service delivery by different people that is service
is delivered differently from different types of people. Like in case of a bank, different staff
members would provide different services. In the bank a person may be busy and may not
attend to a customer as may be a person with the same work may attend to him with great
enthusiasm. Example: “CITI BANK” that promotes itself as “crown of quality for customer
who is the king” and is an ISO 9002 certified bank. Thus it has to have consistency and
quality to serve its customers.
3) INSEPARABILITY:

Inseparability is that characteristics of a service indicating that it cannot be separated from

creator-seller of the product. Many services are created, delivered and consumed
simultaneously through interaction between customers and service producers. This is a
source of major limitation for the bank. But technology has in a big way helped the banks to
cope with this problem.

Production of services, when it comes to banks can be performed in the following 3 ways:

(i) Co- production: In this case both the service provider and the customer work together to
produce services. When a customer wants to withdraw cash from the banking premises, then
both the customer and the service provider needs to be present.

(ii) Isolated production: It is that part of service that is done outside to an organization. E.g.
Tele-Banking.

(iii) Self Service production: In this case, the customer uses the equipments of the service
providers and self serves it. Eg. ATM.

4) PERISHABILITY:

Inventory relates to the perishable characteristics of the service marketing. If a customer

starts his day at eight in the morning and ends it at four, but if bank is open only from 9:00
a.m. to 1:00 p.m. in the afternoon, then one might not be able to attend it. The demand for
banking services also fluctuates by day and hour. The day before the holiday, weekend, most
Mondays and Saturdays, pension and salary days are heavier than normal banking hours. So
service faces a lot of problem from inventory as it cannot be stored, saved and then used
later.
SWOT ANALYSIS

STRENGTHS
1. CITI BANK is the strongest and most venerable play on Indian mortgages over the long
term. The management of the bank is termed to be one of the best in the country.
2. CITI BANK has differentiated itself from its peers with its diversified network and
revamped distribution strategy
3. CITI BANK has been highly proactive in passing on the cost and benefit to customers.
4. Besides the core business, CITI BANK’s insurance, AMC, banking, BPO, and real estate
private equity businesses are also growing at a rapid pace and the estimated value of its
investments/subsidiaries explains ~30% of CITI BANK’s market capitalization.

WEAKNESSE

1 High dependence on individual loans

2. Major stake held by American financial groups which are under stress due to economic
slowdown.

OPPORTUNITIES

1. Fast growing insurance business in the country.

2. Untapped rural markets.

THREATS

1. Loss of market share to commercial banks and HFC’s

2. Higher than expected increase in funding cost

3. Risk of fraud and NPA accretion due increasing in interest rates and fall in property prices
is inherent to the mortgage business.
Service marketing environment

Banks safeguard money and provide loans, credit, and payment services such as checking
accounts, debit cards, and cashier's checks. Banks also may offer investment and insurance
products. As a variety of models for cooperation and integration among finance industries
have emerged, some of the traditional distinctions between banks, insurance companies, and
securities firms have diminished. In spite of these changes, banks continue to maintain and
perform their primary role—accepting deposits and lending money.

Goods and services. Banking comprises two parts: Monetary Authorities—Central Bank, and
Depository Credit Intermediation. The U.S. Federal Reserve System is the central bank of the
United States and manages the Nation's money supply and international reserves, holds
reserve deposits of other domestic banks and the central banks of other countries, and issues
the dollars we use. The credit intermediation and related services industry provides banking
services to consumers and businesses. It secures the money of depositors, provides checking
and debit card services, and lends money to consumers and businesses through credit cards,
mortgages, car loans, investment loans, and lines of credit.

Industry organization. There are three basic types of banks: commercial banks, savings and
loan associations, and credit unions. Although some of the differences between these types of
banks have lessened, there are key distinctions.

Commercial banks, which dominate this industry, offer a full range of services for
individuals, businesses, and governments. Commercial banks come in a wide range of sizes,
from large global banks to mid-size regional and small community banks. In addition to
typical banking services, global banks lend internationally and trade foreign currencies.
Regional banks have numerous branches and automated teller machine (ATM) locations
throughout a multi-state area and provide banking services to individuals and local
businesses. Community banks are based locally and have fewer branches than regional or
global banks. In recent years, online banks—which provide financial services entirely over
the Internet—have entered the market, with some success. However, even in Internet banking
distinctions have lessened as traditional banks also offer online banking, and some formerly
Internet-only banks have opened branches.

Savings banks and savings and loan associations, sometimes called thrift institutions, are
the second largest group of depository institutions. They were first established as
community-based institutions to finance mortgages for people to buy homes and still cater
mostly to the savings and lending needs of consumers. Over time, distinctions between
savings banks and commercial banks have largely disappeared.

Credit unions are another kind of depository institution. Credit unions are formed by people
with a common bond, such as those who work for the same company, belong to the same
labor union, or live in the same county. Only people who have the common bond are allowed
to become members. Loans and savings accounts are restricted to members. Credit unions are
nonprofit organizations that are governed by a board elected by the depositors (members).

Interest on loans is the principal source of revenue for most banks, making their various
lending departments critical to their success. The commercial lending department loans
money to companies; the consumer lending department handles student loans, credit cards,
personal loans, and car loans; and the mortgage lending department loans money to
individuals and businesses to purchase real estate.

The money banks lend comes primarily from consumer and business deposits in checking,
money market, and savings accounts and certificates of deposit. These deposits often earn
interest for their owners, and provide owners with payment methods, such as online bill
payments, checks, and wire transfers. Deposits in many banks are insured and regulated by a

The financial crisis accelerated an ongoing fundamental change in the banking industry as
banks diversify their services to become more competitive. The financial crisis has allowed
stronger banks to buy other banks and companies that provide other financial services at
lower prices than before the crisis. Some other financial services that many banks offer their
customers include: financial planning and asset management services, brokerage services,
and insurance services. Banks purchase companies that offer these services and still offer
them through a subsidiary or a third party. The financial crisis also helped commercial banks
increase their share of the investment banking industry. Investment banks help companies
and governments raise money through the issuance of stocks and bonds. As banks respond to
regulatory changes and other changes driven by the financial crisis, the nature of the banking
industry will continue to undergo significant change.

8 P`s WITH REFERENCE TO CITI BANK

PRODUCT

Levels of service

Core Expected Augmented Potential

Product Product Product
Product

The basic Timely service Goods waiting Mobile and

necessity to use rooms internet
Long banking
banking Banking
hours Extensive ATM
services in
network New Schemes
order to handle Low interest
tailored for
finance more rates Promotional
specific
efficiently Discounts
customers

Service Flower of CITI BANK:-

I. PRICE

The price mix in the banking sector is nothing but the interest rates charged by the different
banks. In today’s competitive scenario where customer is the king the banks have to charge
them interest at the rate in force on accordance with the RBI directives.

CITI BANK also compete in terms of annual fees for services lie credit cards, DMAT etc.
another important part of the banks pricing policy today is the interest charged on the Home
Loans and Car Loans. With India’s economy progressing there are more and more buyers
seeking these loans but at a very competitive interest rate. While framing a pricing policy
different pricing methods can be used:

Value pricing: This type of pricing is mainly done by CITI BANK having unique or different
products or schemes. They usually charge a combination of high and low prices depending on the
customer loyalty as well as the products. This type of pricing strategy is usually coupled with
promotion programmes.
Cost plus pricing: In cost plus pricing a detailed analysis of cost structure of CITI BANK
products and services is done.
Going rate pricing: The most pricing technique is going rate pricing. In going rate pricing the
banks bases its price largely depending on the competitor’s prices. The banks however have to stay
within the RBI directives and compete. The banks may charge higher or lower than their
competitor
Market oriented approach: This indicates what the market can bear or accept as in case of a
corporate client who may not be price sensitive as against an individual client.
Competitive based pricing: In competitive based pricing, the price is decided on the competitor’s
price.

II. PLACE

Some of the important factors affecting the location analysis of a CITI BANK are:

• The Trade Area:

• Population Characteristics:
 • Commercial Structure
• Industrial Structure
• Banking Structure
• Proximity of other convenient outlets
• Real Estate Rates
• Proximity to public transportation
• Drawing Time
• Location of Competition
• Visibility
III. PROMOTION
CITI BANK is promoted in two ways:

a) Personal promotion: the bank marketers get the best opportunity to tangibilize the
product through personal selling; persuasion is more effective with direct contact. It helps in
creating impulse buying. Now a Tele-Sale is also popular.
b) Impersonal promotion: i.e. advertising, publicity and sales promotion measures.
Banks use all types of advertisement such as newspapers, radio, television, magazines and
hoardings. Also sales promotion devices such as Point of Purchase Material, brochures
and advertisement specialist like ball pens, calendars, dairies etc.

IV. PEOPLE

People are the employees that are the service providers. In a CITI BANK the service provider
plays a very important and determinant role in rendering the customers a satisfactory and a
good service. It is extremely essential that the service provider understands what his
customers expects from him. In CITI BANK the customer needs to be guided in a lot of
matters which is possible only with the help of the service provider. The position in the eyes
of the customer will be perceived by appearance, attitude and behaviour of the customer
contact employees. Not only the customers contact employee influence the customers but also
the customer base of the organization does so.
PHYSICAL EVIDENCE

Physical evidence is the overall layout of the place. How the entire bank has been designed.
Physical evidence refers to all those factors that helps make the process much easier and
smoother. Most of the private and foreign banks portray a new welcoming and friendly look
to the customer. Flashy cheque books with the name of the account holder printed,
imaginative design of the bank brochure, statement of accounts with details of transactions
are other tangible aspects.

Logos, symbols, attractive brand names etc. add to the customer’s perception of service
quality. There is an urgent need to implement technologies in order to raise productivity as
well as to enable the banking system to cope with the increasing complexities of business.

For example in case of CITI BANK portray a new welcoming and friendly look to the
customers rather than drudgery banking counters. The physical evidence would be the
placement of the customer service executive’s desk, or the location of the place for depositing
Cheques. It is very necessary the place is designed in such a manner so as to ensure maximum
convenience to the customer and cause no confusion to him.

VII. PROCESS

Moments of Truth:

• Customer enters branch (Watchman)

• Security check (Security Man)
• Inquiry by customer (Banker)
• Interaction with banker (Banker)
• Fills form (Banker)
• Told will receive welcome kit (Banker)
• Customer leaves (Watchman

PRODUCTIVITY AND QUALITY

RELIABILITY lockers, Transfers, cheque drop box

ASSURANCE “Good people to bank with”

“good

TANGIBLES Gate of bldg, surrounding area, park, car park,

Welcome Desk, Cheque books
EMPATHY Loss of cheque/ credit card.

RESPONSIVENESS Turn Around time taken to solve customer queries/

complaints

MARKET SEGMENTATION FOR CITI BANK

An organization is supposed to enter to the changing needs of customers; it is natural that all
customers have their own likes and dislikes. They have some uniqueness which throws a big
imprint on their lifestyles. This makes the task of understanding a bit difficult. It has the
context that we go through the problem of market segmentation in the banking service. In the
banking services, the banking organizations are supposed to satisfy different types of
customers living in different segments. The segmentation of market makes the task of bank
professionals easier. If the market segmentation is done in a right fashion, the task of
satisfying the customers is simplified considerably. The modern marketing theories advocate
the formulation of marketing policies and strategies for each segment which an organization
plans to solicit.

CRITERIA FOR SEGMENTATION

Segmentation in a right fashion makes the way for profitable marketing. This helps policy
planners in formulating and innovating the policies and at the same time also simplifies the
task of banking professionals while formulating and innovating the strategic decision. The
following criterion makes the segmentation right.

1. ECONOMIC SYSTEM:
An important criterion for market segmentation is the economic system in which we find
agricultural sector, industrial sector, services sector, household sector, and rural sector
requiring the weight age while segmenting.

• agricultural sector

• industrial sector
 • services sector

2). HOUSEHOLD SEGMENT

GENDER SEGMENT

3 INSTITUTIONAL SECTOR

In this sector we find different categories of organizations. Some of the organizations are
known as charitable organizations, some of them are cultural/ social organizations, some of
them are industrial and many of them are profit making and many are philanthropic and
many of them are related to trade and commerce. It is natural that the needs and requirements
vis-à-vis the level of expectations can’t be identical in all cases. To satisfy and to increase the
market share it is imperative that the banking organizations are familiar with changing needs
and requirements. The emerging trends in the social transformation process determine the
hierarchy of needs.

USERS OF CITI BANK

The users/customers continue a place of outstanding significance. The line of services, the
placing and development of services, the offering of services, the pricing strategies or the
interests charged for the services made available and the promotional strategies depend
substantially upon the nature and type of users using the services of an organization.

TYPES OF USERS:

General Users: Persons having an account in the bank and using the banking facilities at the
terms and conditions fixed by a bank.

Industrial Users: The industrialists, entrepreneurs having an account in the bank and using
the credit facilities and other services for the establishment and the expansion of their
business.
Prospects: It is necessary to clarify the term ‘Prospects!’ The general industrial prospects do
not use banking services at present but they have the potential to become a costumer if
induced or motivated in a right fashion.

CUSTOMER REQUIREMENTS & CUSTOMER EXPECTATIONS

Accounts & Deposits Banking should be effortless. With CITI BANK Bank, the efforts are
rewarding. No matter what a customer's need and occupational status, we have a range of
solutions that are second to none.
Whether you're employed in a company and need a simple Savings account or run your own
business and require a robust banking partner, CITI BANK not only has the perfect solution
for you, but also can recommend products that can augment your planning for the future

Loans Haven't you occasionally dreamt of buying a PC , a car of your choice or even
travelling abroad? Your dreams are now within your reach. Whatever your need, we offer an
entire range of loan products.

Cards Our range of Cards helps you meet your financial objectives. So whether you are
looking to add to your buying power, conducting cashless shopping, or budgeting your
expenditure, you will find a card that suits you

Investments & Insurance When you bank with us, we ensure your money is not just in safe
hands; it also works to your advantage. We help you invest wisely through our financial and
investment services. Profit from our expertise.

Forex and Trade Services Are you a frequent flyer for business or often holiday abroad? Are
you an importer/exporter of foreign and Indian goods? you need to deal in foreign currency
and keep tabs on exchange rates every now and then, transfer monies to India, make
payments etc., CITI BANK Bank has a range of products and services that you can choose
from to transact smoothly, efficiently and in a timely manner. We offer the following
Foreign Exchange Products and Services.
Payment Services With CITI BANK Bank's payment services, you can bid goodbye to
queues and paper work. Our range of payment options make it easy for you to pay 4for a
variety of utilities and services.

Pricing for services

Value pricing: This type of pricing is mainly done by banks having unique or different products
or schemes. They usually charge a combination of high and low prices depending on the customer
loyalty as well as the products. This type of pricing strategy is usually coupled with promotion
programmes.
Cost plus pricing: In cost plus pricing a detailed analysis of cost structure of various bank
products and services is done.
Going rate pricing: The most pricing technique is going rate pricing. In going rate pricing the
banks bases its price largely depending on the competitor’s prices. The banks however have to stay
within the RBI directives and compete. The banks may charge higher or lower than their
competitor
Market oriented approach: This indicates what the market can bear or accept as in case of a
corporate client who may not be price sensitive as against an individual client.
Competitive based pricing: In competitive based pricing, the price is decided on the competitor’s
price.
Gaps model of Service
For Clo
• Recruitm
For Clos
Integrated marketing communications
Integrated Marketing Communications is a term used to describe a holistic approach to
marketing communication. It aims to ensure consistency of message and the complementary
use of media. The concept includes online and offline marketing channels. Online marketing
channels include any e-marketing campaigns or programs, from search engine optimization
(SEO), pay-per-click, affiliate, email, banner to latest web related channels for webinar, blog,
micro-blogging, RSS, podcast, and Internet TV. Offline marketing channels are traditional
print (newspaper, magazine), mail order, public relations, industry relations, billboard, radio,
and television. A company develops its integrated marketing communication programme
using all the elements of the marketing mix (product, price, place, and promotion).

Integrated marketing communication is integration of all marketing tools, approaches, and

resources within a company which maximizes impact on consumer mind and which results
into maximum profit at minimum cost. Generally marketing starts from "Marketing Mix".
Promotion is one element of Marketing Mix. Promotional activities include Advertising(by
using different medium), sales promotion (sales and trades promotion), and personal selling
activities. It also includes internet marketing, sponsorship marketing, direct marketing,
database marketing and public relations. And integration of all these promotional tools along
with other components of marketing mix to gain edge over competitor is called Integrated
Marketing Communication.

Using outside-in thinking, Integrated Marketing Communications is a data-driven approach

that focuses on identifying consumer insights and developing a strategy with the right (online
and offline combination) channels to forge a stronger brand-consumer relationship. This
involves knowing the right touch points to use to reach consumers and understanding how
and where they consume different types of media. Regression analysis and customer lifetime
value are key data elements in this approach.

Integrated Marketing Communications of CITI BANK include

• Advertising
• Sales Promotion
• Public Relations
 Service Blueprint

 Service blueprint is a picture or map that accurately portrays the service system so
that different people involved in providing it can understand and deal with it
objectively regardless of their individual point of view .

 Particularly useful at design and redesign stages of service development.

 It provides a way to break the service into logical components and to depict the steps
or tasks in the processes, the means by which they are executed and evidence of the
service as consumer experiences it.

Blueprint components

 Basic components of Service Blueprint are:

 Customer actions

 “Onstage” contact employee actions

 “Backstage” contact employee actions

 Support processes

Service blue print of CITI BANK

  Customer actions: it includes steps, choices, activities and interactions that customer
performs in the process of purchasing, consuming and evaluating the service

 Onstage employee actions: steps and activities that the contact employee performs
that are visible to the customer.

 Backstage employee actions: steps and activities that occur behind the scene to
support onstage activities.

 Support processes: covers the internal services, steps and interactions that take place
to support the contact employees in delivering the service.

MANAGING WAITING LINES

Waiting in lines is a part of our everyday life. Waiting in lines may be due to overcrowded,
overfilling or due to congestion. Any time there is more customer demand for a service than
can be provided, a waiting line forms. We wait in lines at the movie theater, at the bank for a
teller, at a grocery store. Wait time is depends on the number of people waiting before you,
the number of servers serving line, and the amount of service time for each individual
customer. Customers can be either humans or an object such as customer orders to be
process, a machine waiting for repair.CITI BANK has manage there waiting lines an
maintain their functional areas very well. When contacted, CITI BANK spokesperson said
the bank had got SEBI's approval for investment banking operation a couple of weeks ago,
but refused to divulge further details. On the other hand, as we shall see, managers of CITI
BANK primarily reduce waiting times by increasing capacity, which is itself quite expensive
and will reduce profit. Finding a waiting time that customers find acceptable while keeping
utilization reasonably high is thus of critical operational importance but relatively unintuitive,
for it turns out that average waiting times can be quite long even when capacity is
significantly greater than demand.

CUSTOMER SERVICE

We at CITI BANK Standard Life are committed to maintaining the highest level of customer
service. Hence we have tried to provide you with all the information you may want to seek
regarding procedures such as paying your premium, various policy servicing options,
processing a claim and so on.

This section is designed to give you information that you may require incase you wish to
make changes in Personal details or Policy details in your existing policy. The changes that
you can avail of are:

• Change in personal details

• Change in policy benefits
• Others such as loss of policy document, policy cancellation in the Free Look.

KNOWLEDGE CENTRE FOR CUSTOMERS

Our Knowledge Centre will help you understand the basics of insurance and help you make
an informed decision about buying a policy. It includes details on insurance concepts, helps
you analyze plans for your various needs and understand the insurance jargon that you may

INCREMENTAL CONCERNS ON CREDIT QUALITY

Some mutual fund schemes had invested in real estate entities in 2007-08 and the first half of
2008-09 when the credit ratings of these underlying entities were higher, but subsequently
there was a significant deterioration in the credit quality for most of them. However, the
credit-quality ratings of most of the schemes continue at the same levels (highest credit
quality) as the proportion of such weak exposures has been low in relation to the schemes
AUM. Till date ICRA has revised the ratings on 3 mutual fund schemes on account of
relatively higher exposure to this sector. ICRA continues to closely monitor all these schemes
for any recovery of the dues from the real estate exposures. Over the last few months, the
absolute exposure to the real estate segment and lower rated entities has been declining while
the overall AUM has been rising with the incremental investments—largely in Government
Securities (G-Secs) and highly rated Banks—supporting the overall credit quality of the
ICRA-rated schemes.

REFRENCES

 http://www.thehindubusinessline.com/iw/2010/05/09/stories/2010050950881100.htm

 http://www.valuenotes.com/krc/may2101.asp?ArtCd=27218&Cat=C&Id=357

 http://www.managementparadise.com/forums/banking-insurance-final-100-marks-

projects/45946-marketing-services-gap-model-applied.html

 http://www.citi bankinsurance.com/KnowledgeCenter/KnowledgeCentre.aspx

 http://www.naukrihub.com/india/banking-insurance/top-companies/CITI BANK-

bank.html

 http://www.citi bankinsurance.com/customerservices/CSPolicyServicing.aspx

 http://www.citibankinsurance.com/customerservices/customerservice.aspx

 http://www.bignerds.com/papers/11115/Gap-Analysis-Intersect-Investments/

 http://www.google.co.in/#hl=en&q=MANAGING+waiting+lines+in+CITI

BANK&aq=f&aqi=&aql=&oq=&gs_rfai=&fp=7b01c8d9f3b3c6aa

 http://www.mccombs.utexas.edu/faculty/man/andersone/courses/ops_core_course/q_

note.pdf