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strategies to improve
personal finance
products
What is a strategy
Strategies are means by which
organization objectives will
be achieved, under changing
environmental situations
STRATEGY IS A PLAN OF
ACTION TO ACHIEVE A VISION
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Levels of Strategy
Corporate
Transaction
Large
Mid
Office
Car/Two
Other
Corporate
Corporate
Banking
consumer
wheeler
Credit
Credit
Loans
loan
Corporate
Strategy
Busines
s Level
Strateg
y
F
FunctionfF
Functional
Strategy
Market Structure
Market Leader
(about 30 to 40%
market share)
Market Challenger (about 25 to 25%
market share)
Market follower
(about 15 to 20%
market share)
Market nicher
(about 10% share)
influence
Identify markets not served by Market Leader
Bring in superior products, better technology,
delivery channels
Increased advertisements
growth
Exploit distinctive advantage of location, loyal
customers
Bring variation in the products
Strategies
of Market nicher
Create exclusive and special customers with
custom made products (e.g. Home Stay vs
regular hotels)
This strategy could be highly profitable
Specialisation in small segment
E.g. Urban Coop Banks
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Dimensions of
Promotion Strategy
contd
Public Relations
An exercise of conveying impression of past deeds and
future plans
It is an art of planning two-way communication and
image building
- Public meetings/seminars
- Press meet/Press coverage
- financial news
- CSR activities
- Community relations
- Sponsorship
- Annual reports
- lobbying with VIPs/Opinion Makers
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Dimensions of Promotion
Strategy contd
Sales Promotion
- Incentives to Customers
- Gifts/ discounts/ contests
- Incentives to staff
- monetary/non monetary
- Personal Selling (involves effective communication which
requires pre sale preparations, ready for questions and
ability to convince customers)
- at the counter
- door-to-door
- in small groups of different segments
- word of mouth
- goodwill of existing customers
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Liability Products
Bank Accounts
Current Accounts
Recurring Deposits
Fixed Deposits of different
types
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Cards
Credit Cards
- Visa
- Master
- Amex
- Rupay
Debit Cards
Special multi-purpose cards
Foreign Travel Cards (chip based, pre funded
balance in foreign currency)
Prepaid Gift cards
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Asset Products
Home Loans
Car / Two wheeler loans
Gold Loans
Education Loans
Loans against Rent Receivable
Loan against Property
Loan to Pensioners
Personal Loans
Loan against NSC/LIC Policies/Shares
Loan against Reverse Mortgage
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Infrastructure
requirement
A good IT package for sourcing the account and the follow
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