Marketing Mix of Federal Bank of India Assignment

Marketing Mix of Federal Bank of India Assignment Words: 891

The name Federal Bank Limited was officially announced in the year 1947 with its headquarters settle on the banks on the river Peppier. Since then there has been no looking back and the bank has become one of the strongest and most stable banks in the country. VISION: Become the dominant “numerous nun” bank In Kraal and a leading player In target markets. Be the trusted’ partner of choice for target (SEEM, Retail, NOR) customers. Be a customer-centric organization setting the benchmarks for service.

Offer innovative yet simple products supported by the state-of-the art technology. Have a dynamic and energies workforce with a strong sense of belonging. Deliver top tier financial reference and superior value to stakeholders. Be a role model for corporate governance and social responsibility. MISSION: particular: Shareholders: Achieve a consistent annual post-tax return of at least 20% on net worth. Employees: Develop in every employee a high degree of pride and loyalty in serving the Bank.

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Customers: Meet and even exceed expectations of target customers by delivering appropriate products and services, employing, as far as feasible, the single-window and 24-hour-seven-day-week concepts, leveraging strengthened branch infrastructure, Tams, and other alternative distribution Hansel, cross-selling a range of products and services to meet customer needs varying over time, and ensuring the highest standards of service at all times. Pursue excellence in various facets of banking. Adopt best industry practices.

Develop, adopt, and review a well-conceived business plan for achieving realistic targets of growth, profitability, and market share over the medium term. Operate within a well-defined, diversified, risk profile and adopt prudent risk-management norms and processes and effective control practices. Employ and leverage appropriate modern information technology to: enhance the quality, speed, and accuracy of product/service delivery; provide ‘anytime-anywhere’ banking facility; strengthen management information and control systems and processes; improve productivity; and reduce costs.

Increase awareness of the “Federal Bank” brand among targeted customer groups through cost-effective marketing. Adopt a robust corporate governance code emphasizing a high degree of professionalism of the Board and the management, and accountability and disclosure to shareholders. Decentralized decision making with accountability for decisions made, and assign cascading profit responsibilities to middle and Junior management. Develop a conducive and transparent work environment that fosters staff commitment, competence, initiative, innovation, teamwork and service-orientation.

FUTURE: We are the fourth largest bank in India in terms of capital base and can easily boast of a Capital Adequacy Ratio of 17. 23 %, one of the highest in the industry. This along with the existence in a highly regulated environment has helped the bank to tide over the recession with minimum impact to its financial stability. In fact we have been expanding organically over the past few months. We believe in extending our reach to our customers by making our services available to all, xx. We have Branches and Tams across India in addition to the Representative Office at ABA Dhabi that serves as a nerve centre for the NOR customers in AJAX.

As on December 2012, we have more than 10,000 employees. We are transforming ourselves, keeping our principles in tact, into an organization that offers service beyond par. Being in the service industry we are conscious of our surroundings and what happens in the PRODUCT: Deposit Schemes: If you want to deposit your funds for a period, ranging from a few days to a number of years, you are looking for Term Deposits. Term Deposits with Federal Bank fetches you good return coupled with high security. See link to our credit rating page on the side menu.

Term Deposits come in three flavors- Fixed Deposit, Cash certificate and Recurring Deposit Fixed Deposit If you want to withdraw periodical interest accrued in the account opt for Fixed Deposits. Cash Certificate When you do not prefer periodical interest payments, you can get compound interest (e interest on interest) on your deposit and the principal with interest is payable at the end of the period. Cash Certificates from Federal Bank offers you these features. Federal Tax Savings Deposit Looking for saving income tax ? Federal Tax Savings Deposit will be a good option for you.

Tax savings fixed deposits are the easiest tax savings options under section ICC. They are one of the best and safest investment options too. Recurring Deposits If you are a person who want to plan for the future but would like to make only systematic small deposits over a period of time, recurring deposits are for suitable for you. Federal Bank offers the most convenient Federal Savings Fund (OFFS) exactly to meet this requirement. Federal Bank have yet another recurring deposit, Pedicure, which will give you an in-built insurance cover with very low premium.

Check out the features of Pedicure deposit. NOR and NOR Services: Introduction of NOR account for the customers: Federal Bank has introduced a new current account scheme exclusively for our beloved NOR customers – NOR Current Account. The feature rich NOR Current account bears zero percent interest. Checkout the features of this new scheme – a bouquet of features such as waiver of minimum balance for first year, free queue books, free debit card, free internet banking with higher transaction limits, free mobile and email alerts and free mobile banking.

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Marketing Mix of Federal Bank of India Assignment. (2020, Apr 24). Retrieved December 2, 2021, from