PRIORITY BANKING

• Priority Banking invites you to

experience a whole new paradigm
in Banking. Your banking must be a
reflection of your aspirations and
lifestyle. Loaded with a whole host
of exclusive Banking, Investment
and Lifestyle privileges, Priority
Banking is best suited to take care
of all your needs while you focus on
doing what you do best.
 HDFC BANK


 Ideal for seasoned professionals

or businessmen, Priority banking
programme will provide with a
banker dedicated to take care of all
banking and investment needs. It
also means to get preferential rates
on various banking products and
other exclusive benefits.
 Key features are:-
• Dedicated relationship manager
• Customised investment solutions
• Investment options
• E-broking
• Expedite tax payments
• Relationship pricing
• Business solutions
• On demand- exclusive priveledges
• Annual service charge waiver
•
 STANDARD CHARTERED
BANK
• As Priority Banking customer, one
enjoy the expertise of a dedicated
Customer Relationship Manager
and the support of a highly
specialised team of financial
experts to plan, build and protect
wealth. In addition, one will also
enjoy a wide range of personalised
and exclusive services reserved for
those with distinctive status.
Few services:-


• Priority Banking Scholarship for

children
• Honorary Priority Banking status for
family members
• Invitation to many leisure
events/workshops
• The perfect networking opportunity
to extend circle of influence.
•
 AXIS BANK
 Benefits provided :-
• Priority banking lounge
• Dedicated relationship manager
• Home banking
• Exclusive priority banking International Debit
Card
• Other banking privileges like-
 Free at-par cheques
 Demand drafts and pay orders
 Free passbook updates
 No issuance charges on Axis Bank's Travel
Currency Card

HDFC BANK AXIS BANK STAN C BANK

Dedicated relationship Priority banking lounge Priority Banking

manager Scholarship for children
Customized investment Home banking Honorary Priority
solutions Banking status for
family members
Investment options Exclusive priority Invitation to many
banking leisure
events/workshops
Expedite tax payments International Debit Card The perfect networking
opportunity to extend
circle of influence.
On demand- exclusive Other banking privileges
privileges like-
Free at-par cheques
Relationship pricing No issuance charges on
Axis Bank's Travel
Currency Card
Annual service charge Demand drafts and pay
waiver orders
World class bank
Vision of the brand

Customer
focus Brand value
Product
leadership

Ethical Brand tone

Imperial, premium Strategic product

banking products

Saving a/c , current a/c, Product list

demat a/c, trading a/c
Factor Analysis
 Why use factor analysis?
• Factor Analysis is used for data
reduction.
• It deals with the identification of
factors, most important to
consumers which drives buying
behavior.
 Perceptual Maps
• These are drawn with the factors as
the axes.
• The length of the vector line
indicates the strength of the
association between attributes and
factors.
• The direction of the factors indicates
the nature of the association.
 Important Factors from a
customer’s perspective
Trust Experience Service

Convenience Comfort Product

Reliability Customer Care Real-time Service

Service
Relationship Technology Status Value

Advisory Cost Benefit Work Force

Network Responsiveness Problem Handling

 How we conducted Factor
Analysis Research ?
• Some respondents were contacted
and were requested to answer the
questions on a 5 point Likert Scale
where,
 1 = “ Strongly Disagree”
 2 = “ Disagree”
 3 = “ Neither agree nor disagree”
 4 = “ Agree”
 5 = “ Strongly Agree”
 Factor Analysis-
Questionnaire
1) They are the most trusted

1 2 3 4 5
bank. SD D NAND A SA
2) They provide maximum

convenience in banking
services
3) They are the most reliable

bank.
4) Their employees maintain

good relationship with

customers.
5) They provide best advisory

services.
6) They offer the best atm s

and branch network.

7) I always have good

experience with this bank.

8) I feel most comfortable at
 1 2 3 4 5
• They have the best
customer care service.. SD D NAND A SA
• My bank uses most
advanced technology.
• They offer the best cost
benefit trade off.
• My bank is fastest in
responding.
• I receive timely bank
statements and other
related services.
• They offer wide range of
products.
• They offer best real time
online services.
• Banking with this bank is
a status symbol.
• Employees of this bank
are empathetic in
problem solving.

Responses of Questionnaire
Factor Extraction Process
 Final Factors extracted from
the research
Factor 1 - (relationship + responsiveness
+ empathy) = CUSTOMER SERVICE
Factor 2 - (Experience +Status Value) =

SNOB VALUE
Factor 3 = RELIABILITY

Factor 4 = TRUST

Factor 5 = REALTIME SERVICE

Factor 6 = ( Technology + Products) =

TANGIBILITY

 Perceptual Map 1

* Similarly 14 more perceptual maps can be made taking

different combinations of factors
 Positioning of the brand

Product quality, New

Sec A, Sec B, Sec C
generation,
Convenience banking,
Service experience

Investment , savings, loan,

Kotak, Hsbc,
insurance
Standard chartered
MDS Analysis
 MDS Questionnaire Part 1
Brands Distance Brands Distance
between between
the two the two
HDFC brands HDFC brands
ICICI HSBC
Brands Distance
between
the two
HDFC brands
AXIS
Brands Distance Brands Distance
between between
the two the two
HDFC brands HDFC brands
STAN KOTAK
 MDS Questionnaire Part 1
Brands Distance Brands Distance
between between
the two the two
ICICI brands ICICI brands
AXIS HSBC
Brands Distance
between
the two
ICICI brands
STAN
CHAR
Brands Distance Brands Distance
between between
the two the two
ICICI brands AXIS brands
KOTAK HSBC
 MDS Questionnaire Part 1
Brands Distance Brands Distance
between between
the two the two
AXIS AXIS brands
brands KOTAK
STAN
CHAR
Brands Distance
between
the two
HSBC brands
STAN
CHAR
Brands Distance Brands Distance
between between
the two the two
HSBC brands STAN brands
KOTAK CHAR
KOTAK
 Part 1 - MDS Data Sheet

HDFC ICICI AXIS HSBC STAN KOTAK

CHAR

HDFC 0 3 3 4 6 4

ICICI 0 4 6 5 5

AXIS 0 4 4 3

HSBC 0 3 5

STAN 0 4
CHAR
KOTAK 0
 MDS Questionnaire Part 2
• According to our consensus from the
group we have short listed five key
attributes for a priority banker.
• Respondents were asked to give
rating from 1-8 to Eight different
banks.
• 1 – Best
 8 – Worst

 Key Attributes
Trust

Status Value

Convenience

Advisory Service

Relationship Management
 Rank Sheet
HDFC ICICI AXIS HSBC STAN KOTA
Trust CHAR K
Status Value
Convenience
Advisory Service
Relationship
Management
 Rank Sheet- Output DRAs
Low
High

Trust HDFC / BOB CITI ICICI AXIS STAN KOT HSB

Status STAN KOTA BOB HSBC HDFC CH
CITIBA AK
ICICI C
AXI
Value
Convenienc CH
STAN K BOB KOTA HSBC HDFC NK
CITIBA ICICI S
AXI
e CH K NK S
Advisory HDFC KOTA AXIS STAN CITIBA BOB ICICI HSB
Service
Relationshi KOTA K HDFC STAN CHAR
AXIS NK
CITIBA ICICI BOB C HSB
p K CHAR NK C
Managemen
t
 MDS SPSS Solution
BANKS DIMENSION 1 DIMENSION 2 DIMENSION 3
CITIBANK 0 . 7806 - 0 . 2704  -.4955
ICICI 0 . 1293 - 1 . 0032 - 0 . 5793
AXIS - 0 . 2475 0 . 3976 - 0 . 5793
KOTAK - 1 . 6466   1 . 1531  0 . 1369
STANCH - 0 . 528  .2912 1 . 3957
HSBC - 1 . 5745 - 1 . 1187 - 0 . 0227
HDFC 1 . 5752 1 . 4647 - 0 . 2966
BOB 1 . 5116 - 0 . 9143 1 . 2624
 Matching DRAs output with
MDS output
• Dimension 1 - Trust


• Dimension 2 - Advisory Services +

Relationship
Management
•
• Dimension 3 - Convenience +
Status Value
Trust v/s Customer Service
Customer
Service

Trust
Customer Service v/s Snob
Value
Snob Value

Custome
Service
Trust v/s Snob Value
Snob Value

Trust
 Brand identity prism

Quality product World class Indian bank

Convenience banking
q ue pers
ysi on
al
ph it
y
Conservative
ethical
Social
Relationsh approach
conformity &
ip Culture
status

Cus
Ref tom
lec er’s me r’s
tio u sto
n C lf tion
Se ojec
Pr Belonging to a elite
Reliability bank