INTRODUCTION

About HDFC Bank:

HDFC Bank was incorporated in August 1994, and, currently has a nationwide network of 2000 Branches and 5,471 ATM's in 996 Indian towns and cities.

The Housing Development Finance Corporation Limited (HDFC) was amongst the first to receive an 'in principle' approval from the Reserve Bank of India to set up a bank in the private sector, as part of the RBI's liberalisation of the Indian Banking Industry in 1994. The bank was incorporated in August 1994 in the name of 'HDFC Bank Limited', with its registered office in Mumbai, India. HDFC Bank commenced operations as a Scheduled Commercial Bank in January 1995.

Differentiate to lead:

Trust is a banker's greatest currency and a great banking and financial services brand can be built only on a strong foundation of trust. That pretty much has been HDFC bank's story as it emerged from the image of a state owned housing finance corporation to a slick new age universal bank. Incorporated in 1994, the bank's contribution to the bustle of post liberalization has been incredible.

The bank's service offerings include a spectrum of innovative products in retail banking, wholesale banking, the capital markets and many more areas growing consistently at 25-30 percent for over a decade. This has been driven by HDFC bank's decision to adopt technology as its backbone. Not only did the technological revolution cut down costs but most significantly it enhanced the customer experience. The experience fostered trust and confidence among customers and the virtuous feedback loop catapulted HDFC bank into the league of elite private sector banks in the country.

HDFC bank's biggest differentiator from others is its robust set of policies that they worked on backed by quality service. Clear de-risking policies in a high risk Indian market have paid rich dividends to a brand run with great vision and strategy. When others concentrated on numbers, HDFC bank concentrated on quality. That made them an extremely respected bank to deal with.

Power Creation:

With the vision of being one-stop financial superstore in mind, the bank operates in three segments: Personal Banking, Wholesale Banking, and NRI Services. The Personal Banking segments provides various deposit products, exclusive banking for high net-worth individuals including Wealth Advisory, Private banking and Personal loans such as auto, personal, home, gold, business loans and more. This segment also is the distribution point for third party financial products, such as Mutual Funds and Insurance. In the space of Personal Banking, HDFC bank's credit Cards are also enormously trusted. Here as well some well-crafted strategies of the past have yielded brilliant results for the bank. One of the key success factors for HDFC bank is clear de-risked business strategies that not only ensure the right revenue inflow but a loyal customer base. The Wholesale Banking segment provides loan and transaction services to large corporate organizations, emerging corporate organizations, small and medium enterprises and institutional customers. It also offers deposit and transaction banking products, working capital and term finance, foreign exchange products and the like. Other services include trade services, cash management, money market, custodial, tax collection and electronic banking. In addition, it provides correspondent bank services to co-operative banks, private banks, foreign banks and regional rural banks and investment services for non-resident Indians.

Communication Strategy:

The positioning strategy in recent years has been to position the bank as a one-stop financial supermarket. The objective of the communication has not just been acquisition of new customers, but also creating product awareness, enhancing usage and providing value-adds to customers. The campaigns from HDFC bank have always focused on that and their tagline ‘We Understand Your World' only carries the legacy forward. Advertisement campaigns are aimed at highlighting how a product fulfils an identified customer need. The communication showcases the customer benefit first showcasing the bank's commitment towards excellence in customer service facilitated through various means, especially technology. The bank also compliments its visual media presence with below the line activities including innovative programmes such as the Merits' Scholarship plan which received high acclamation.

Magical factors:

As a brand, HDFC bank remains committed to India and enhancing the financial service space for everyone in the country. HDFC bank plans to bring financial viability in the next five years to 10 million families at the bottom of the pyramid through supporting microfinance programmes which can be driven by the bank through self help groups rather than just relying on microfinance institutions. The relentless pursuit of efficiency through technology also makes the bank a customer favourite. Their latest innovation is the ‘My Favourite' features at ATMs which help customers reduce the time they spend at the ATM. The feature enables the consumer to customize his most often used withdrawal amount thereby speeding up the process by about 40%. It is the focus on little things also that has made HDFC bank such a customer centric bank and is the heart and soul of the brand.

Brand Ethos:

HDFC bank has always been about making customers comfortable thereby earning their trust. Whether it is through offering transparent products with no hidden fine print or through technological enhancements, HDFC bank has always paid attention to understand customer needs, reinforcing the trust it holds among customers. Its current tagline - “We Understand Your World” is only apt in the sense that if there's one word you'd like to associate with HDFC bank it has to be ‘understanding'.

What is a Brand?

The word "brand" is derived from the Old Norse “brandr meaning "to burn." It refers to the practice of producers burning their mark (or brand) onto their products.

When the technique of branding first started, it was meant to make identifying and differentiating a product easier. Over time, brands came to embrace a performance or benefit promise, for the product, certainly, but eventually also for the company behind the brand. Today, brand plays a much bigger role. Brands have been co-opted as powerful symbols in larger debates about economics, social issues, and politics. The power of brands to communicate a complex message quickly, with emotional impact and the ability of brands to attract media attention makes them an ideal tool in the hands of activists.

Brand is the personality that identifies a product, service or company (name, term, sign, symbol, or design, or combination of them) and relates to key constituencies i.e. customers, staff, partners, investors etc.

Brand identity and image

Brand identity is the outward expression of a brand, including its name, trademark, communications and visual appearance. Because the identity is assembled by the brand owner, it reflects how the owner wants the consumer to perceive the brand and by extension the branded company, organization, product or service. This is in contrast to the brand image, which is a customer's mental picture of a brand. The brand owner will seek to bridge the gap between the brand image and the brand identity

Brand awareness

Brand awareness refers to customers' ability to recall and recognize the brand under different conditions and link to the brand name, logo and jingles etc., to certain associations in memory. It helps the customers to understand to which product or service category the particular brand belongs and what products and services are sold under the brand name. It also ensures that customers know which of their needs are satisfied by the brand through its products. Brand awareness is of critical importance since customers will not consider your brand if they are not aware of it.

Brand Tracking

The role of brand tracking methodologies is to monitor the health and the value of your brands. These are the business equivalent of taking your temperature or reading your pulse - they can tell you quite reliably (within statistically-dictated tolerances) whether you are ill or well, and even how ill or how well. They can also point to certain symptoms. However, if you want to know how to get better, you may have to go to see a doctor (or, in this case, a consultant/marketing research agency using sophisticated diagnostic and prognostic techniques)

Effective brand management relies on getting timely and accurate information from the target audiences. Brand tracking involves designing a program of measurement that is completed on a regular schedule to allow for trend analysis and comparison.

Some of the key metrics that are involved in tracking a brand include:

  • Brand awareness and familiarity
  • Brand perceptions
  • Brand positioning
  • Delivery on brand promise
  • Perceptions of competitive brands

What are marketing collaterals?

Marketing collaterals consists of printed materials that describe a business and its products and services. Marketing collateral includes brochures, posters, banners, standees and other printed materials produced by or for an organization.

Types of the marketing collaterals used in HDFC bank are displayed as follows:

MARKETING COLLATERALS

WINDOW GLAZINGTENT CARDS

LCD TVSTANDEE

BANNERLEAFLETS

POSTERNOTICE BOARD

DESCRIPTION OF THE PROJECT

Impact of marketing collaterals in branches:

Every bank has several branches spread wide all over. As we enter a branch we witness many informative items such as banners, posters, standees, leaflets, window glazing, etc. These are known as marketing collaterals. These collaterals are put up with the intention of being read and used by every individual, customer or non-customer, whosoever enters the branch for whatever purpose. They carry information regarding new offers, schemes, rates, changes in banking operations, RBI implications, list of services provided, etc. These are meant to grab customer attention and to probe them into enquiring about the information displayed. It not only helps in improving sales opportunities but also helps in spreading information about the bank and its services.

By observing and studying how effective these collaterals actually are, we could do a cost-benefit analysis and also provide recommendations on improving the effectiveness and usefulness of these collaterals by making desired modifications. The project involves observing visitors and also using questionnaires to identify the effective usage of marketing collaterals in the branches of HDFC bank spread over Mumbai city.

Brand tracking of HDFC bank in semi-urban regions of India:

A brand is defined as a name, term, sign, symbol or design or a combination of them, intended to identify the goods or services of one seller or a group of sellers and to differentiate them from those of competitors.

It is very difficult to understand the perception that people have about a particular brand. The role of brand tracking is to monitor the health and the value of a particular brand. It can tell you quite reliably how are the brand performing and what is the image of the brand, as perceived by the people. Brand tracking can point out the reasons why a brand is not performing well and can also recommend suggestions on improving the brand image.

In this project, I will be using questionnaires to interview already existing customers as well as non-customers in semi-urban areas of selected cities of India about how they feel about HDFC bank and its services. Interviews would be done face-to-face or door-to-door. Analysis will be made from the data obtained and the current brand image in the minds of people can be formed. Accordingly, suggestions can be provided on how the brand image can be improvised.

OBJECTIVES OF THE PROJECT

Impact of marketing collaterals in branches:

HDFC bank has 1780 branches and 5231 ATMs in 833 Indian towns and cities. Every branch has several marketing collaterals placed with the intention of spreading awareness about the bank and for improving sales. HDFC bank incurs expenses to put up these marketing collaterals. If the collaterals do not help the bank up to the desired extent at which the bank requires then it is considered that the bank is making losses on these marketing collaterals. The core objective of this project is to study the usefulness of marketing collaterals and to identify the obstacles that are faced by the customer/visitor in utilizing these collaterals. Thus, changes can be suggested in order to improve the utility of these marketing collaterals.

Brand tracking of HDFC bank in semi-urban regions of India:

A brand plays a very vital role in the sales of any company. The image that people have about a certain brand influences them to make decision regarding whether to use a certain product or service of that particular brand. Thus, in order to improve sales, it is very important to improve the brand's image in the minds of people. Brand tracking is a methodology which helps in tracking and identifying the brand's image i.e. what people perceive about the particular company. Identifying the brand's image is very helpful in placing marketing strategies. The objective of this project is to track the image of HDFC bank in the minds of its customers as well as non-customers in semi-urban markets of India and identifying the bank's brand position as compared to its competitors.

BENEFITS TO THE ORGANIZATION

Ø With the help of this survey, HDFC Bank can identify how much impact its each marketing collaterals has on the customers and which are the collaterals which are not helpful or fail to induce enquiries from the customers. Also the reason behind the collaterals not being attractive are found out and accordingly modifications are suggested. Thus, the effectiveness of the marketing collaterals at various branches of Mumbai city can be increased.

Ø The brand tracking survey would help HDFC Bank to identify what people in semi-urban regions perceive about it. Also it can know where it stands as compared to its competitors and what people understand about HDFC Bank's local taglines. The brand awareness, visibility, likability and its recall value is calculated. Future marketing strategies can be designed using this information.

Ø Apart from these core objectives, HDFC Bank can also use the database collected by the survey for generating leads and other such purposes.

LIMITATIONS OF THE STUDY

Ø As the method of communication used for the survey is face-to-face or door-to-door, the limitations include limited geographical flexibility, high cost and difficulty in call back or follow-up.

Ø The entire surveys, research, analysis and decisions are based on the primary data collected by interviewing people from different cities. So the project is highly reliable on the perceptions, thoughts and ideas of people, which are ever changing. Also measuring the cognitive, affective and behavioural components of an attitude is a limitation.

Ø The project on brand tracking is limited to the semi-urban regions of India and does not include the urban cities.

RESEARCH PROCESS ADOPTED

Both the projects that have been selected are research based projects. To study the impact of marketing collaterals in the branches of HDFC bank in Mumbai city as well as for tracking the image of HDFC bank in semi-urban regions, a research had to be made which followed a process that is divided in 7 steps which are as follows:

The entire research process has been designed keeping these 7 steps in mind. Accordingly, a schedule was formed and the stipulated time frame was decided to complete the tasks of the schedule. This helped complete the projects in a smooth and systematically planned manner.

THE SCHEDULE OF TASKS IS AS FOLLOWS

Tasks

Expected Completion Date

1) Identifying the problem/opportunity

a) Studying the banking sector and identifying importance of marketing collaterals and brand image on the overall sales of HDFC bank.

b) Studying the different types of marketing collaterals used in branches of HDFC bank and observing the customer/visitor behaviour towards these collaterals.

c) Studying the various factors affecting brand image and methods of tracking brand image

15th Feb,2011

2) Preparing questionnaires and selecting target samples to be interviewed.

1st March,2011

3) Visiting different cities (Aurangabad, Surat, Madhya Pradesh and Rajkot) for tracking the brand image of HDFC bank and visiting various branches of Mumbai city to study the impact of marketing collaterals in branches.

5th April,2011

4) Gathering, processing and analysing the data collected.

19th April,2011

METHODOLGY USED

The methodology adopted for researching on both the projects is by collecting primary data through questionnaire method. Customers as well as non-customers are interviewed using questionnaires on face-to-face basis by visiting different semi-urban regions of a few cities where HDFC bank has its branches located at. Data collected from questionnaires will be used in percentage form as the primary data for making analysis.

It is a stringent research methodology based on a perception based survey which would include parameters like brand awareness, brand image/perception, brand recall value, brand performance and brand association.

The process for preparing the questionnaires for the brand tracking survey is by interviewing 100 people (random sampling) on what they feel are important attributes or features that they look for while selecting a bank for opening a CASA account. The next step is to select the features that have been desired by maximum number of people asked. These features are to be included in the questionnaire along with the other questions for tracking the brand image of HDFC bank. By multiplying the rank given by interviewees to the importance level of the attribute, a clear idea can be drawn as to where HDFC bank stands as compared to its competitors and in which areas the bank need to work upon. Also, the local taglines of HDFC Bank in different cities for example, Gujarati in Surat, Marathi in Aurangabad and so on has been included in the questionnaire for indentifying the understanding that people, of that particular region, have about the local tagline.

In order to prepare the questionnaire to study the impact of marketing collaterals in branches, the most common marketing collaterals have been identified and included. The questionnaires are prepared with the aim of identifying the importance and effectiveness of each marketing collateral and the problems faced by the visitors in using these collaterals. For providing more clarity, both the questionnaires prepared are attached with this report.

The entire data derived from the questionnaires regarding both the projects, is coded and saved in EXCEL sheets so that it can be included in the bank's MIS and can be used by the bank in future whenever required.

CITIES AND BRANCHES VISITED TILL DATE

Lists of cities that have been visited for Brand Tracking of HDFC Bank is as follows:

1) Aurangabad

People outside the branches of HDFC bank's competitors i.e. ICICI bank, SBI and AXIS bank were interviewed using questionnaires that were prepared.

2) Surat

Semi-urban regions near Surat city were visited i.e. Bardoli and Amroli.

3) Madhya Pradesh

Semi-urban regions of M.P were visited i.e. Khandwa and Harda.

4) Rajkot

Semi-urban regions of Rajkot were visited i.e. Wankaner, Metoda and Una.

A list of branches of HDFC Bank in Mumbai that were visited to conduct the study on impact of marketing collaterals in branches is as follows:

  1. Hughes Road branch
  2. Sandoz house branch
  3. Khar Road branch
  4. Borivali branch
  5. Vashi branch
  6. Andheri branch
  7. Sanpada branch
  8. Zaveri branch
  9. APMC 2 branch
  10. Kandivili branch

EXCEL sheets containing the entire information of the cities and branches visited along with the data collected is attached with this report.

DATA FINDINGS OF MARKETING COLLATERALS SURVEY

List of branches visited:

  1. Hughes Road branch
  2. Sandoz house branch
  3. Khar Road branch
  4. Borivali branch
  5. Vashi branch
  6. Andheri branch
  7. Sanpada branch
  8. Zaveri branch
  9. APMC 2 branch
  10. Kandivili branch

Total number of people interviewed: 200

Data collected is as follows:

1) How often do you visit the branch?

a) Very often - 48%

b) Less often - 28%

c) Rarely - 24%

2) How much time do you spend in the branch at every visit?

a) 5 to 10 minutes - 17.5%

b) 10 to 15 minutes - 34%

c) 15 to 20 minutes - 20.5%

d) Above 20 minutes - 28%

3) Which of the following collaterals attract your attention the most?

Collaterals

Often

Sometimes

Rarely

Never

Window glazing on the glass outside

14.5%

27%

27.5%

31%

Standee

32%

44.5%

16.5%

7%

Banner

19.5%

47%

26.5%

7%

Poster

19.5%

47%

26.5%

7%

Leaflets

4%

25.5%

28.5%

42%

Tent cards

2%

18.5%

24.5%

55%

Notice board

9%

32%

21%

38%

LCD TV

5.5%

12%

53%

29.5%

4) Do you often spend time reading these collaterals?

a) Yes - 67.5%

b) No - 32.5%

5) Do you find it easy to read them?

a) Yes - 94%

b) No - 6%

6) If yes, does it induce you to inquire about it?

a) Yes - 75.5%

b) No - 24.5%

7) If no, what are the obstacles that prevent you from reading it?

a) Location of the collateral - 2.5%

b) Font size/colour - 2%

c) Too much text matter - 12%

d) Language - 0.5%

e) Other issues - 6%

f) No issues - 77%

DATA FINDINGS ON BRAND TRACKING

Cities Visited:

Aurangabad, Surat (Bardoli and Amroli), Madhya Pradesh (Khandwa and Harda) and Rajkot (Una, Wankaner and Metoda)

Total Number of peopleinterviewed:

200

Data collected is as follows:

(The data provided is divided into three sections i.e. in terms of all the data collected, data collected from customers and data collected from non-customers)

1) Banks that the people were aware about are as follows:

All data:

HDFC bank - 26.3%

ICICI bank - 21.8%

State Bank of India - 18%

Axis bank - 15%

Other - 18.8%

Customers:

HDFC bank - 28.57%

ICICI bank - 19.72%

State Bank of India - 16.32%

Axis bank - 12.92%

Other - 22.44%

Non-customers:

HDFC bank - 25.60%

ICICI bank - 22.51%

State Bank of India - 18.54%

Axis bank - 15.67%

Other - 17.66%

2) Public opinion about each bank with regards to the attributes mentioned as follows:

a) Trust

All data

Ranks

ICICI

HDFC

SBI

AXIS

1

4.5%

6%

86%

3.5%

2

32.5%

30%

11%

26.5%

3

28.5%

46%

2%

23.5%

4

34.5%

18%

1%

46.5%

Customers

Ranks

ICICI

HDFC

SBI

AXIS

1

2.04%

16.32%

79.59%

2.04%

2

34.69%

34.69%

16.32%

14.28%

3

18.63%

30.61%

4.08%

46.93%

4

44.89%

18.36%

0%

36.73%

Non-Customers

Ranks

ICICI

HDFC

SBI

AXIS

1

5.29%

2.64%

88.07%

3.97%

2

31.78%

28.47%

9.27%

30.46%

3

31.78%

50.99%

1.32%

15.89%

4

31.12%

17.88%

1.32%

49.66%

b) Customer friendly staff

All data

Ranks

ICICI

HDFC

SBI

AXIS

1

18%

30.5%

25%

26.5%

2

26.5%

41%

13%

19.5%

3

35.5%

21.5%

14.5%

28.5%

4

20%

7%

47.5%

25.5%

Customers

Ranks

ICICI

HDFC

SBI

AXIS

1

20.40%

53.06%

16.32%

10.20%

2

24.48%

26.53%

18.36%

30.61%

3

32.65%

16.32%

18.36%

32.65%

4

22.44%

4.08%

46.93%

26.53%

Non-customers

Ranks

ICICI

HDFC

SBI

AXIS

1

17.21%

23.17%

27.81%

31.78%

2

27.15%

45.69%

11.25%

15.89%

3

36.42%

23.17%

13.24%

27.15%

4

19.20%

7.94%

47.68%

25.16%

c) Speed of services

All data

Ranks

ICICI

HDFC

SBI

AXIS

1

32%

35.5%

15.5%

17.5%

2

21.5%

51.5%

14%

13%

3

32%

10%

11%

47%

4

14.5%

3%

59.5%

22.5%

Customers

Ranks

ICICI

HDFC

SBI

AXIS

1

28.57%

55.10%

2.04%

14.28%

2

28.57%

44.89%

16.32%

10.20%

3

38.77%

0%

14.28%

46.93%

4

4.08%

0%

67.34%

28.57%

Non-customers

Ranks

ICICI

HDFC

SBI

AXIS

1

33.11%

29.13%

19.86%

18.54%

2

19.20%

53.64%

13.24%

13.9%

3

36.42%

13.24%

9.93%

47.01%

4

17.88%

3.97%

56.95%

20.52%

d) Cheaper rates/prices

All data

Ranks

ICICI

HDFC

SBI

AXIS

1

3%

4%

85.5%

7.5%

2

36.5%

34%

5.5%

24%

3

29.5%

28.5%

4%

38%

4

31%

33.5%

5%

30.5%

Customers

Ranks

ICICI

HDFC

SBI

AXIS

1

0%

4.08%

85.71%

10.20%

2

53.06%

28.57%

2.04%

16.32%

3

10.20%

51.02%

10.20%

28.57%

4

36.73%

16.32%

2.04%

44.89%

Non-Customers

Ranks

ICICI

HDFC

SBI

AXIS

1

3.97%

3.97%

19.20%

6.62%

2

31.12%

35.76%

6.62%

26.49%

3

35.76%

21.19%

1.98%

41.05%

4

29.13%

39.07%

5.96%

25.82%

e) Technology

All data

Ranks

ICICI

HDFC

SBI

AXIS

1

29%

34%

24%

13%

2

21%

50%

14%

15%

3

29.5%

12.5%

15.5%

42.5%

4

20.5%

3.5%

46.5%

29.5%

Customers

Ranks

ICICI

HDFC

SBI

AXIS

1

32.65%

55.10%

6.12%

3.12%

2

28.57%

42.85%

14.28%

14.28%

3

16.32%

2.04%

22.44%

59.18%

4

22.44%

0%

57.14%

20.40%

Non-Customers

Ranks

ICICI

HDFC

SBI

AXIS

1

27.81%

27.15%

29.80%

15.23%

2

18.54%

52.31%

13.90%

15.23%

3

33.77%

15.89%

13.24%

37.08%

4

19.86%

4.63%

43.04%

32.45%

f) Visibility

All data

Ranks

ICICI

HDFC

SBI

AXIS

1

40%

10%

44.5%

5.5%

2

26%

24.5%

27.5%

22%

3

27%

35%

4%

34%

4

7%

30.5%

24%

38.5%

Customers

Ranks

ICICI

HDFC

SBI

AXIS

1

55.10%

6.12%

34.69%

4.08%

2

14.28%

26.53%

40.81%

18.36%

3

24.48%

42.85%

2.04%

30.61%

4

6.12%

24.48%

22.44%

46.93%

Non-Customers

Ranks

ICICI

HDFC

SBI

AXIS

1

35.09%

11.25%

47.68%

5.96%

2

29.80%

23.84%

23.17%

23.17%

3

27.81%

32.45%

4.63%

35.09%

4

7.28%

32.45%

24.50%

35.76%

g) Number of branches/ATMs

All data

Ranks

ICICI

HDFC

SBI

AXIS

1

7.5%

4.5%

83%

5%

2

45%

30.5%

11%

13.5%

3

31.5%

46%

4%

18.5%

4

16%

19%

2%

63%

Customers

Ranks

ICICI

HDFC

SBI

AXIS

1

12.24%

4.08%

81.63%

2.04%

2

55.10%

30.61%

14.28%

0%

3

22.44%

63.26%

2.04%

12.24%

4

10.20%

2.04%

2.04%

85.71%

Non-Customers

Ranks

ICICI

HDFC

SBI

AXIS

1

5.96%

4.63%

83.44%

5.96%

2

41.72%

30.46%

9.93%

17.88%

3

34.43%

40.39%

4.63%

20.52%

4

17.88%

24.50%

1.98%

55.62%

h) Easy to approach

All data

Ranks

ICICI

HDFC

SBI

AXIS

1

26.5%

26.5%

32%

15%

2

20.5%

41.5%

25%

13%

3

26.5%

22%

14%

37.5%

4

26.5%

10%

29%

34.5%

Customers

Ranks

ICICI

HDFC

SBI

AXIS

1

24.48%

40.81%

24.48%

10.20%

2

16.32%

40.81%

36.73%

6.12%

3

38.77%

8.16%

12.24%

40.81%

4

20.40%

10.20%

26.53%

42.85%

Non-Customers

Ranks

ICICI

HDFC

SBI

AXIS

1

27.15%

21.85%

34.43%

16.55%

2

21.85%

41.72%

21.19%

15.23%

3

22.51%

26.49%

14.56%

36.42%

4

28.47%

9.93%

29.80%

31.78%

i) Premium Services

All data

Ranks

ICICI

HDFC

SBI

AXIS

1

26.5%

29%

29%

15.5%

2

16%

58.5%

4.5%

21%

3

39.5%

12.5%

17.5%

30.5%

4

18%

0%

49%

33%

Customers

Ranks

ICICI

HDFC

SBI

AXIS

1

22.44%

57.14%

8.16%

12.24%

2

26.53%

38.77%

2.04%

32.65%

3

40.81%

4.08%

10.20%

44.89%

4

10.20%

0%

79.59%

10.20%

Non-Customers

Ranks

ICICI

HDFC

SBI

AXIS

1

27.81%

19.86%

35.76%

16.55%

2

12.58%

64.90%

5.29%

17.21%

3

39.07%

15.23%

19.86%

25.82%

4

20.52%

0%

39.07%

40.39%

3) Current bank being used by the respondents is as follows:

All data:

HDFC bank - 15%

ICICI bank - 30.4%

State Bank of India - 26.4%

Axis bank - 10.7%

Other - 17.5%

Customers:

HDFC bank - 63.63%

ICICI bank - 14.28%

State Bank of India - 15.58%

Axis bank - 1.29%

Others - 5.19%

Non-customers:

HDFC bank - 0%

ICICI bank - 34.63%

State Bank of India - 29.75%

Axis bank - 14.14%

Others - 21.46%

4) Apart from their current bank, other banks that attract the respondents are as follows:

All data:

HDFC bank - 29.4%

ICICI bank - 15.6%

State Bank of India - 16.5%

Axis bank - 10.1%

Others - 28.4%

Customers:

HDFC bank - 0%

ICICI bank - 6.25%

State Bank of India - 31.25%

Axis bank - 18.75%

Others - 43.75%

Non-customers:

HDFC bank - 35.16%

ICICI bank - 17.58%

State Bank of India - 13.18%

Axis bank - 8.79%

Others - 25.25%

INFERENCES

The following are the inferences made from visits that had been done to conduct the survey to identify the Impact of Marketing Collaterals in Branches of HDFC Bank in Mumbai city. These inferences are based on the suggestions of the customers, suggestions provided by staff members and the percentages calculated from the data sheets prepared

1) Sandoz House Branch, Mumbai

Ø Information should spread through the staff as it would be more effective.

Ø LCD TV is placed too much in the corner. It should be placed somewhere in the centre or above the teller queue to be noticed more often.

Ø More information on services provided by HDFC bank should be made available as many people are still not aware about the e-banking facilities provided by HDFC bank. Also information which is more useful for general/regular customers should be put up.

Ø Centre pillars, plants and chairs occupy a lot of space. As there are not many standees present in the branch, this space can be used for keeping standees around.

Ø Posters placed behind the teller are well placed and are observed the most, but they are very repetitive.

Ø Notices on the notice board are very important for the customers, but the font size of these notices is too small and also they are located in the extreme corners of the branch where customers can't find them.

2) Hughes Road Branch, Mumbai

Ø Most of the customers enquired only to the guards and not to the staff.

Ø Only a few people who sat and waited at the PB desk or RM desk read the tent cards and enquired about it to the staff.

Ø Overall enquiries rising out of collaterals were 2-4 per day approximately and 7-10 leaflets were taken on an average per day approximately.

Ø Too many types of collateral were present all over which had a more negative impact than positive.

Ø Standees and window glazing were observed the most because the standee being in front of the teller queue and in the centre of the branch, whereas the window gazing was also huge and attractive.

Ø Other collaterals weren't very helpful, especially the LCD TV. When asked, many people weren't even aware that there was an LCD TV in the branch. Being on the extreme corner of the branch it is very much ignored. It should be placed in the centre of the branch or at the top of the teller queue to make the most of it as it is very attractive and expensive collateral.

Ø Customers are satisfied with the size, colour, text and language of the collaterals as 95% of the customers, who were surveyed found the collaterals easy to read.

Ø Some customers complained that the offers and schemes displayed on the marketing collaterals are misleading sometimes, which is discouraging.

3) Borivali Branch, Mumbai

Ø Customers preferred reading newspapers rather than the collaterals displayed around the branch, as the newspapers were kept just in front of where customers sit and wait for their services.

Ø Instead of newspaper, the bank's magazines or tent cards and leaflets could be kept on the tables, so that the customers can read them while waiting.

Ø The visibility and usage of tent cards and leaflets is very low as many customers are not even aware of where they are placed.

Ø The LCD is also rarely noticed because of its location. It is located on the wall which is on the backside of the people sitting, so the people sitting cannot see it. Also being too far from the teller queue it cannot be seen clearly by the people standing in the teller queue.

Ø Apart from these few suggestions, the Borivali branch has many marketing collaterals as well as some art in the centre of the branch, utilizing the space effectively.

Ø As a result, the customers of Borivali branch did not have any issues or recommendations and were satisfied with the way how marketing collaterals were displayed.

4) Khar Road Branch, Mumbai

Ø There are many posters put up which make the branch look attractive.

Ø The notice board is also well placed and does attract a lot of attention.

Ø There is only one standee in the branch which is near the teller queue.

Ø LCD TV is well placed as it has high visibility, but many customers who were interviewed complained that the LCD is usually switched off.

Ø Leaflets are kept behind the PB desks, so they are not visible and accessible for the customers.

Ø There were no visible tent cards in the branch.

Ø There is a different floor for preferred customers. On that floor there are no marketing collaterals present. There is only a LCD TV, which is used for showing news channels.

Ø There are newspapers and magazines kept in the area where preferred customers sit and wait. Instead HDFC bank related magazines or attractive collaterals could be kept.

Ø A significant number of customers who were interviewed said that they were not interested in reading the marketing collaterals. Language could be one of the issues as many of them had difficulty understanding English.

5) Vashi Branch, Mumbai

Ø The standees, posters and leaflets were well placed and easily accessible.

Ø The LCD TV could not be seen by the customers who stood in the teller queue and also by the customers who were sitting and waiting in the waiting area, as there was a pillar between them and the LCD TV.

Ø Most of the customers, who were interviewed, complained that the LCD TV was mostly kept switched off.

Ø There was no window glazing on the entrance of the branch, so most of the customers did not know about it.

Ø The attention that the customers paid to the marketing collaterals in the Vashi branch was comparatively lower than any other branch.

Ø There could be a notice board dedicated to the marketing collaterals like a marketing notice board as notice boards are considered important, so many customers do look at them and spend time in reading them.

Ø Also, some laminated sheets/magazines containing information on new schemes/products/offers or about the bank such as award received etc. could be kept on tables near the waiting area to be read instead of newspapers. As customers are sitting and waiting they tend to pick up such items and read them.

6) Andheri Branch, Mumbai

Ø As the size of the Andheri branch is not very big, the marketing collaterals are also few and limited.

Ø There is no LCD TV in this branch.

Ø The window glazing is the most attractive as it can be seen from quite a distance.

Ø The number of customers visiting the J.P Road branch of Andheri is comparatively lesser than the other branches that were visited.

Ø Many leaflets and tent cards are kept behind the PB and RM desks from where it is not accessible for the customers.

Ø The standees and tent cards kept near the teller queue are the most effective and help in raising enquiries.

Ø It is observed that the customers do tend to use the leaflets kept around the welcome desk.

Ø Some customers complained about the font size of a few important notices and posters being too small to be read even by standing close to them. Such marketing collaterals do not help in inducing enquiries.

Ø Notices are put up at random places around the branch. A notice board should be maintained to put up all important notices together.

7) Sanpada branch, Navi Mumbai

Ø There is no LCD TV in the branch. Instead, there is a jewellery box kind of item with marketing collaterals around it. It is placed near the teller queue and displays the loan against gold schemes offered by HDFC bank. Being placed near the teller queue, it is observed by people standing in the queue very often and also induces inquiries often.

Ø The size of the branch is comparatively smaller. There is only one standee in the branch, placed near the teller queue. The standee is quite effective as it is the only one and also because of its location.

Ø Many customers complained that they could not find the notice board in the branch. The reason being that notices were randomly put up behind PB desks and Welcome desks from where they could not be seen by the customers.

Ø Also, some customers suggested that there should be a proper notice board placed in the branch where it can be easily found, as it is one of the most important collateral.

Ø There are many leaflets and tent cards in the branch which are placed and used well.

Ø The posters are also read sometimes, especially the ones behind the tellers.

Ø There are two standees outside the branch at the entrance. When asked, many customers said that they never noticed it or they never spent time in reading them.

Ø Many marketing collaterals get blocked from the sitting area and cannot be seen because of a pillar in the middle of the branch.

Ø The size of the branch being small and the number of marketing collaterals being high with lengthy text matter, some customers said that the interest gets diluted.

8) APMC 2 Branch, Navi Mumbai

Ø As this branch of HDFC Bank has recently come up, it still needs to get renovation as per the layout of HDFC bank standards.

Ø There is no LCD TV in the branch.

Ø Being a small branch the marketing collaterals are also few.

Ø Tent cards and leaflets are kept one in front of another making it unreadable.

Ø Too many notices are put up on the notice board, which is not read as it is in the corner of the branch. Also, the wall on which the notice board is put up is damaged making it look unpleasant.

Ø The two, loan against gold, standees are read sometimes as they are kept together in front of the teller queue.

Ø There are six wall posters in the branch which are noticed rarely. One of the most important places for putting collaterals i.e. the wall in front of the sitting/waiting area is used for storing files and other documents.

Ø Window glazing is also not very effective as 75% people interviewed said that they never read the window glazing.

9) Zaveri Bazaar Branch, Mumbai

Ø The Zaveri Bazaar branch of HDFC bank is a very small branch, but the limited space is well utilized for marketing collaterals.

Ø The window glazing, banners and posters do attract attention.

Ø There is no LCD TV in the branch.

Ø Standees are placed outside the BM's cabin which is behind the sitting/waiting area, making it less visible.

Ø Tent cards and leaflets are also used less.

Ø The notice board is read sometimes.

Ø The branch is visited by 90% bearers and only 10% account holders. Bearers usually don't have a tendency of reading the marketing collaterals.

10) Kandivili Branch, Mumbai

Ø The Thakur branch at Kandivili East is just outside TCSC College. So the visibility is very good and the window glazing is very effective marketing collateral.

Ø There are plenty of leaflets, banners and posters in the branch, which are quite attractive.

Ø As the notice board is placed close to the entrance and the BM's cabin, it has good visibility and also attracts attention.

Ø There is a loan against gold marketing collateral which is very inductive, but being kept in a corner, it gets ignored often.

Ø The standees are kept outside the branch near the ATM machine and at the entrance of the branch. As a result, many people ignore it and it is hardly read. There are no standees inside the branch.

Ø The branch being located at a residential area, most of the visitors are account holders and find the marketing collateral's language easy. According to the employees of the branch, there are only 20%-25% bearers walking in per day.

Ø The common complaint that most of the respondents had was that there were too many marketing collaterals in the branch, making the branch very congested. Also, they suggested that too much of reading material dilutes the attraction.

The following are the inferences made from visits that had been done to conduct the survey to track HDFC Bank's brand image in semi-urban regions of Aurangabad, Surat and Madhya Pradesh. These inferences are based on the observations made, suggestions of the people interviewed and the percentages calculated from the data sheets prepared.

Aurangabad:

  • There are a rising number of young and middle aged employees opting for banking facilities including many call centre employees.
  • The profession of these people is service. Attracting such an audience requires good technology, faster service and competitive prices.
  • HDFC bank's brand awareness is very high in Aurangabad and the local tagline is also well understood.
  • Apart from the banks mentioned in the questionnaires, IDBI is also a well established brand in Aurangabad.
  • Among the banks mentioned in the questionnaire, SBI is the most preferred followed by a tie between ICICI and HDFC bank with Axis bank being the least preferred.

Surat:

  • Most of the people in Surat are self-employed.
  • The bank selecting decisions are made by the family heads usually, who are a little aged and look for trust as the key factor in selecting a bank.
  • Banks like SBI and BOB are more preferred than other banks. Building a good trust worthy relation with the target audience would provide a lot of aid, as many people think HDFC bank is a foreign bank.
  • Providing good customer service is also one of the most essential elements required in attracting customers in Surat.
  • Also, people are not very comfortable with languages like Hindi and English, so HDFC bank should try and employ Gujarati staff for better communication and gaining trust.
  • Although understanding the local tagline was easy and simple but the local tagline needs to be advertised a lot as many people were not aware of it and not even heard about it.
  • Technology is not very helpful in Surat as many people do not use the e-facilities provided by banks, the education level is also not very high.
  • HDFC bank has been present at the semi-urban areas of Surat like Bardoli since many years. So it has a competitive advantage over banks like ICICI which have been set up recently.

Madhya Pradesh:

  • The areas visited, i.e. Khandwa and Harda, were very rural areas. People did not understand English and they commonly followed Hindi.
  • In such a scenario, the HDFC Bank's Hindi logo was very helpful as people understood it well.
  • Most of the people who were interviewed preferred government banks over private banks as they felt that government banks were more reliable and trustworthy.
  • A common perception about HDFC Bank is that many people thought of it as a foreign bank. They were not aware that HDFC Bank was an Indian originated bank.
  • On specific services related questions, many people did not differentiate between HDFC Bank and other private banks as they thought that all private banks have alike services.
  • Although, HDFC Bank's customers who were interviewed were happy with the services they were provided and appreciated them.
  • SBI has a clear edge over other banks because it is said to be the first bank to open branches in the areas which were visited. It is the oldest and has the maximum ATMs and visibility in the visited areas. It's been only a year or two before HDFC Bank got its branches in Khandwa and Harda.
  • Most of the people who were interviewed did not rate technology as the most important attribute for opening an account, they considered trust and easily approachable as the most important features.
  • As compared to other private banks, HDFC Bank's brand awareness was higher, but very low as compared to other government banks which were well established in those areas.

Rajkot:

  • On the basis of the observations made and comments of the people interviewed, it can be said that HDFC bank has penetrated well into the semi-urban regions of Rajkot city.
  • As compared to ICICI bank, HDFC bank is more popular among people and also has more branches in the area that were visited.
  • Among private sector banks, Axis bank is the only major competitor to HDFC bank. Apart from Axis bank, the other banks that pose a threat to HDFC bank are SBI, BOB, Dena bank, etc.
  • Government banks are more preferred as they are well established as people trust them. SBI has its branches in the semi-urban areas of Rajkot since the past 38yrs, whereas branches of HDFC bank had come up only 1 to 2 years ago.
  • Thus, competing with government banks and winning customer confidence is the major challenge faced by HDFC bank in Rajkot.
  • Only 32% of the people interviewed were into service, the rest of the people were self-employed.
  • The name and tagline of HDFC bank in the local language is very popular and also helpful as most of the people follow Gujarati instead of Hindi and English.

RECOMMENDATIONS

Based on the analysis, inferences and the data findings, suggestions have been made for each branchand city visited in the above inferences of this report. Apart from those suggestions, some modifications are recommended for the marketing collaterals in branches to improve its effectiveness.

The recommendations for the marketing collaterals are as follows:

  • Window glazing being the most expensive marketing collateral, is least observed and makes minimum impact on the customers/visitors. This was commonly observed in all the branches visited. The interviewees did not find HDFC Bank's window glazing attractive as 27.5% respondents rarely noticed the window glazing and 31% respondents said that they never paid attention to the window glazing.
  • Some more creative designs and prints could be used using brand ambassadors like sportsperson or celebrities. This could help in attracting more attention. For example, window glazing of Shahrukh Khan for NRI services by ICICI Bank attracts a lot of attention.
  • Since using the notice board for marketing collaterals is not permitted by the RBI, HDFC Bank could have a different marketing board for displaying latest schemes, products, offers and other information in branches which are big in size. As it is analyzed that 32% people tend to observe and read the notice board giving it high importance.
  • HDFC Bank could keep the bank's magazine or plastic charts displaying information and achievements of HDFC Bank near the area where people sit and wait, instead of keeping newspapers, as reading newspapers is a commonly observed tendency of the customers/visitors who are sitting and waiting for their services.
  • It is analyzed that in each branch visited, the LCD TV is amongst the least observed marketing collateral as 53% respondents said that they rarely observed the LCD TV. In most of the branches it is due to the location of the LCD TV or it is due to non-interesting ads. Also, in some branches it was noticed that in spite of having an LCD TV in the branch it is mostly switched off, because of which many customers do not even know that there is an LCD TV in the branch. Thus, the visibility of the LCD TV should be increased. Ideally it should be on the wall which is in front of the sitting/waiting area.
  • Also, it is recommended that at least 20% of the marketing collaterals should be in the local language or in Hindi.
  • As there are many such branches of HDFC Bank which are mostly visited by bearers, local language marketing collaterals with attractive offers for the bearers should be introduced.
  • Using less and non-repetitive banners and posters could prove helpful as many people complained that too many marketing collaterals dilute the attention. Also 12% respondents said that lengthy text is the common obstacle that prevents them from reading the marketing collaterals.
  • The utility and visibility of tent cards and leaflets is average. 25.5% respondents used the leaflets sometimes and 18.5% respondents read the tent cards sometimes.
  • According to the survey made, standees are the most useful marketing collateral. 32% respondents read the standees often and 44.5% respondents read the standees sometimes. They attract maximum attention if placed near the teller queue and also induces enquiries.

ANNEXURE

Ø Sample questionnaire format of brand tracking of HDFC bank in semi-urban areas.

Ø Data calculation excel sheet of brand tracking of HDFC bank in semi-urban areas.

Ø Sample questionnaire format of studying the impact of marketing collaterals in branches of HDFC bank in Mumbai.

Ø Data calculation excel sheet of studying the impact of marketing collaterals in branches of HDFC bank in Mumbai.