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Topic : New Pastures For Marketers - 2011
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Marketing & Branding

 

Do the Bank requires Advertising?

Created by : Virag Shah, Confidential  | 01 19 2011 06:29:36 +0000
Industry : Advertising/PR/MR/EventsFunctional Area : Branding(Sales & Marketing)
Keywords : banking ad bank advertising bank ad bank promotion banking and financial service ad
Activity:  705 views;  last activity : 03 06 2011 15:33:38 +0000

Since 2 year the growth of Banking sector advertising is going good, increased. Many banks are promoting their various service in Print and electronic media. Ao, Are they require any advertising because, bank brand already taken position iteself. WIthin 1 year TV commercial, ooh and news paper ad by HDFC bank, Kotak mahindra bank (25 years celebratind) , Central bank of India recent campaign, Dena bank, bank of baroda, Axis bank, Yes bank, SBI bank, Bank of india,Cosmos bank, ICICI bank etc....

  
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Top Argument
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Since more and more banks entering fray,more more services are being offered. To make the public know the products being offered, to sustain and maintain the bussiness advertisement will help.
By malladi madhukumar, AGM -MKTG, Andhra Cements Ltd  01 20 2011 13:25:39 +0000
 
Top Argument
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Thank you Rashmi for the referral. In my opinion Banks does not require advertising, except when some new service or product is introduced. It is their service and credibility that has to work..which need no publicity !!
By Suryanarayan Murthy, Asst Vice President (Corporate Finance), A Hydro Power Project  01 20 2011 03:47:24 +0000
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Today every area of wrnk to promote its product is selling its product by all means. Banks should also advertise to keep itself into competition and survive. But I do feel that too much advertising is also not good as people feel too much overdosed by this.
By anuradha , Education Coordinator, A to Z Technologies  | 03 06 2011 04:38:30 +0000
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well i think today market is highly competitive. In today's world customer is very much aware of the market conditions. Now the roles of bank are much more in depth and they are now much more than the depositing and saving institution. These days banks are innovating new and latest product to increase their brand name and market share. To promote new products, to educate and aware customers are few things which are the main reason why bank need advertising.,
By Gurpreet Singh, Team Associate, BA Continuum Solutions  | 03 06 2011 00:41:49 +0000
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indian banks need to advertise because only through advertising we can increase the financial inclusion.
By saurabh garg, MBA/PGDM student, isb&m,noida  | 03 05 2011 22:15:51 +0000
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Everything in life require advertising whether it is searching for bride or groom then why not for bank
By pradhnya meshram, Sales Executive/Officer, Tata Communications Ltd  | 02 08 2011 16:59:04 +0000
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Yes it is very much required. Until my neighbor found BOB ad and changed her loans, we didn't know that the home loans are cheap and the processing is easy as other private banks. Then we organized a weekend loan session with other nearby pats. This is also one kind of advertisement.
By Anand Balasubramanian, Deployment Mgr,  | 02 08 2011 11:24:24 +0000
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In this competitive world when everyone is selling its brand by advertisement then Banks are not an exception.
By anuradha , Education Coordinator, A to Z Technologies  | 02 05 2011 15:28:02 +0000
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Yes & I can help with your advertising
By Sanjiv Khanna , Events/Promotion, Forecast Advertising Pvt Ltd  | 02 05 2011 07:24:51 +0000
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Advertising plays a vital role in the growth of any company. It basically influences customer’s preferences. You need a medium to convey your messages to your customers (both existing one and prospective one). If you won’t advertise, chances are very high that prospective customer will always be prospective only. Banking industry is a pure service industry, so whatsoever new services you are introducing you have to communicate then only your purpose of introducing service will be fulfilled.
By Vivek Pandey, MBA Finance with Banking Operations experience looking for a Job  | 02 04 2011 18:30:34 +0000
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advertising is more important as it works as brand recall exercise............ and let the buyer choose their product and this basic is applicable even if it is bank.
By HEMANT VERMA, Marketing and Branding, NAVNEET PUBLICATION INDIA LTD.  | 02 04 2011 14:51:19 +0000
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In the competitive and LPG world, whether it may be a bank or some other you need advertisement. I love the HDFC Bank Ads. lol
By Srinivas suravajhala, Asst. Manager.  | 02 02 2011 11:13:11 +0000
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In india most of people stay in village and not know public ya private bank now day village people show T.V and other then and read newspaper in include Advertisement at this field most of people know and In village bank is not available. Most of Bank available city or Taluka.
By vishadkumar Harshadbhai Patel, BCA student, MKICS  | 02 02 2011 10:11:57 +0000
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yes absolutely.. advertisments are an important sources of increasing sales.... advertisments are the investments made with some expected returns in form of high sales.. any every 1 needs it wheter they are banks or corporate companies...
By piyush mangal, working as an article assistant with a ca firm, sp babuta and associates  | 01 25 2011 08:58:08 +0000
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I support your statement.

Advertisement is necessary for giving information of the products & services offered by the bank.


By SHRIKANT MANOHAR DANKE, Project Manager, Phadnis Infrastructur Ltd  | 01 24 2011 06:25:48 +0000
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Yes, It is necessary.
By M.B.MALANI , MBA/PGDM student, R.R.INSTITUTE OF MANAGEMENT BANGALORE  | 01 23 2011 03:50:36 +0000
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YES, ofcorse what ur doing everyone knows in right way, so flow of wealth from which way come at ur doorsteep who know's.
By rahul borgave, Freelancer, rtail sales  | 01 21 2011 15:47:34 +0000
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Yes advertising is an important part in order to increase the brand recall , due to the cut throat competition its important for the banks to advertise so as to let the customer know how their services can benefit him and more over help him to remember the brand and its services..
By Akshay Raj Singh Bisht, Sr Manager Business development, E-Sys Technologies  | 01 21 2011 11:52:23 +0000
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Definately bank requires advertising, like new policy , new scheme and other things. common people are still not much aware of bank policy and its benefits. so i thinks its good for the bank to addvertise. Ms Parul said for the new scheme.
By nadeem , HR Manager, Mittal Brothers Pvt. Ltd.  | 01 21 2011 06:21:07 +0000
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If a bank is opening a new branch or ATM in a new location, then it is required to advertise in the local media to attract customers. As you are aware, there is a huge competition betweeen the banks. Advertising should help the new and existing customers to know about the products and the services available.
By Narni Subrahmanyam, Admin/Facilities Manager, ICRISAT  | 01 21 2011 03:47:19 +0000
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services are intangible in nature which can't been nor b felt but in the form of result so advertising for banks is not required but d requirement is for d service which it provides......
By Mukul Kamboj, MBA/PGDM student, Roorkee engineering and management technology institute  | 01 20 2011 18:40:45 +0000
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A good service rendered by a bank needs advertisement-to create awareness.Today we observe more about products rather than on service rendered.
By Ramesh shirolkar, Academic Incharge,, Edutech Nttf India pvt ltd  | 01 20 2011 14:37:07 +0000
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For the new chap who wants to open an account, yes. If there are 2-3 banks close to his workspot or residence, then choice of bank will depend on a lot of factors. Advertising is one of them.
By V. Srinivas, Freelancer, Information Technology  | 01 20 2011 14:30:16 +0000
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The Nationalised Banks in the country should be focussing on providing better service to the customers rather than spending money on advertisements. They should come out with a number of good and profitable plans to rope in more investors and maintain the existing client-base by providing stupendous service!
By S. Muralidharan, Executive Director, Knowledge Foundation & Campus Around the Corner  | 01 20 2011 14:16:23 +0000
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My answer is Yes since all the govt banks no need of advertising but it is much profitable to private banks and they can attract by giving more than a min return wht other banks give
By gopal reddy, Research Associate/Analyst, factset  | 01 20 2011 07:29:02 +0000
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My answer is yes there is no sector in this world which doesn't require Advertisement and I think bank need more publicity specially the private sector banking farm they require more inverter to increase there share value so Advertisement is must .
By Shailendra .M.Gour, Embedded Technologies Engineer, nonotec  | 01 20 2011 06:32:09 +0000
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Yes its need to create brand over there in mkt. Coz just now government has given permission to chinees banks to do business in India. American banks also exist in Indian bank sooooo to standup against those banks its necessory to create good image so that it will help to be survive in competitive world.
By priti inamdar, MBA Finance, student  | 01 20 2011 06:00:43 +0000
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Absolutely..its the era of branding n rebranding wherein a necessity also needs to be branded..& advertising are integral for creating it..
By Ravi Kumar Choudhary, Planning Manager, Encube ethicals Pvt. Ltd.  | 01 19 2011 18:24:30 +0000
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Yes it is needed to differentiate from other banks and the public should know the various services rendered by banks. Thanks for the referral Ms.Rashmi Patil.
By NATTERAJA R. ARIKRISHNAN, GM-Projects, Bentec Electricals & Electronics Pvt. Ltd  | 01 19 2011 18:23:51 +0000
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Absolutely yes. In this competitive market where all the bank are coming with different and attractive product. So the actual information about the product should go to the public. So they need to communicate to the public through advertisement.
By kalpna Malvi, Business Analyst, 3i Infotech Ltd  | 01 19 2011 18:14:59 +0000
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yes everybody requires it in todays competitive world
By Wajid.Pathan , Enterprenuer (Designer /Developer/Supplier), Self Employed  | 01 19 2011 17:57:09 +0000
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Today a lot of competition is there in the Banking Sector. The private sector and public sector banks are trying to woo the public in general. The banks are vying with each other in coming out with various rates of interest on deposits by continuous upping of the rates offered. Similarly the rate of interest is being competitive in advances portfolio also. Add to this the various non-banking products being marketed by the banks as an accessory service. In view of all this Advertising has become an essential tool for reaching out to the public so that the general public can assess for themselves the advantages and or disadvantages of the offers made by different banks.
By kanukurthy sudershanrao, Operations Manager, Andhra Bank  | 01 19 2011 14:51:02 +0000
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advertisement as well as publicity is one of the key factor for growth of banking industry. always banking and insurance sectors are the back bone of growing country.
By kannan , Head/VP/GM-Accounts, own office  | 01 19 2011 14:09:36 +0000
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Yes...today there are so many banks and different variety of products banks also wants to stand out from others and attract new customers and spread the financial umbrella in the country.
By Rashmi Patil, Financial services  | 01 19 2011 12:35:26 +0000
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Yes , in this scenario, every bank requires to do advertising  because competition is becoming too much high in each and every sectors. Bank are also introducing various services lke e-bankin, net banking, mobile banking , enter in global market, open new branch - showing branch record, ATM record , rural banking etc. and many more will come near future.

So, for awareness and retain the existing customers, they are require to promotion -ad campaign...
By Virag Shah, Confidential  | 01 19 2011 06:29:36 +0000
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i don't think so, because today more than enough number of banks are presenting in India but no one is reaching towards niche areas where people are actually in need of their services and help.
By Vinod kumar, MBA (Finance) student, Punjab College of Technical Education  | 03 06 2011 15:33:38 +0000
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Rashmi ! i dont think so Banks need to advertise as already they have been in the market for decades, can market the new scheme which are consistent and any additional services provided can be publicized...
By Ms.Parul Bharat Shah, Partner/Principal/VP, Great Minds Services  | 01 20 2011 06:57:48 +0000
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Absolutely not. they should serve the poorer sections instead of affluent and influential
By Krishna Murty, CONSULTANT ON BUILDINGS, IRRGATION PROJECTS, CIVIL ENGINEER  | 01 19 2011 15:05:59 +0000
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