What are the marketing approach adopted by Banks to grow their financial products?

The Banks and the insurance companies adopt a direct marketing strategy to its customers which approaches them. The marketing and distribution strategies are different in urban and rural areas due to diverse demographic and socio-economic nature of these markets. Private banks are mostly concentrated in urban areas due to higher income, better infrastructure, higher investor base and concentration of commercial activities in the urban areas of the country. The distribution channels used by such banks include bank branches, ATMs, internet banking, phone banking, direct selling agents, call centres, etc. The distribution networks developed by public banks in urban as well as rural areas are a result of policy measures due to which the number of public sector bank branches is higher as compared to private or foreign banks.