EXECUTIVE SUMMARY
The main object of the project was to learn about the various products that the bank had to offer to the customers, learn about the latest 5 ‘S’ Philosophy that the bank has implemented, also learn the Retail Business Development Model that is basically a new dimension of selling product to customers, analyze the awareness of the Bank@home service with existing customers, educate them regarding the same and motivate them to enroll for the service and also try to assess why the customers are resisting to use the service and finally encourage corporate organizations that maintain their salary accounts with the bank to get a corporate box installed in their office premises.
In order to understand and analyze the awareness of Bank@home service a questionnaire was prepared and the focus was on the walk inns at the branch that already are customers of the bank. The idea was to analyze the various issues as mentioned above. The analysis showed that many of the existing customers who live even far off from the branch have high frequency of visits to the branch. The analysis also clearly showed that the awareness regarding the service was extremely low. The Bank had to promote the service in order to reach out to the customers and make its presence felt. Observation also indicated that the foot falls at the Connaught Place branch actually come from almost all parts of the city irrespective of the relationship the customers have with the branches through out the city, making the task even more difficult the drop boxes throughout the city have not been strategically been placed there various locations that do not have the drop boxes but there is high number of foot fall from the area. Also this lead to the understanding that the policy to install drop boxes in areas is very faulty and the corporate office must look into the matter. For awareness of the service I gave awareness strategies, Promotional strategies, Pamphlet to educate customers regarding the service, places where the drop boxes should be placed, and some suggestions to overcome the problem.
For Corporate Boxes the task was straight forward but tricky to handle, A list of organizations that had salary account relationship with the Connaught Place branch was given, The idea was to visit the organizations meet the person concerned and explain to him in the most professional manner the function of the Corporate box and its advantage to the employees, get a set of documents signed that had details regarding the service and a letter that indicates that the organization is willing to accept the Corporate box, and then finally spend time with each employee of the organization for educating g them regarding the service and then enrolling them for the same. I was able to convince 5 organizations to install a corporate box and give leads of concerned person of 3 organizations however they required a senior person visiting them, and was unable to appointment with 2 organizations from a list of 10 organizations that I had to cover.
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The main object of the project was to learn about the various products that the bank had to offer to the customers, learn about the latest 5 ‘S’ Philosophy that the bank has implemented, also learn the Retail Business Development Model that is basically a new dimension of selling product to customers, analyze the awareness of the Bank@home service with existing customers, educate them regarding the same and motivate them to enroll for the service and also try to assess why the customers are resisting to use the service and finally encourage corporate organizations that maintain their salary accounts with the bank to get a corporate box installed in their office premises.
In order to understand and analyze the awareness of Bank@home service a questionnaire was prepared and the focus was on the walk inns at the branch that already are customers of the bank. The idea was to analyze the various issues as mentioned above. The analysis showed that many of the existing customers who live even far off from the branch have high frequency of visits to the branch. The analysis also clearly showed that the awareness regarding the service was extremely low. The Bank had to promote the service in order to reach out to the customers and make its presence felt. Observation also indicated that the foot falls at the Connaught Place branch actually come from almost all parts of the city irrespective of the relationship the customers have with the branches through out the city, making the task even more difficult the drop boxes throughout the city have not been strategically been placed there various locations that do not have the drop boxes but there is high number of foot fall from the area. Also this lead to the understanding that the policy to install drop boxes in areas is very faulty and the corporate office must look into the matter. For awareness of the service I gave awareness strategies, Promotional strategies, Pamphlet to educate customers regarding the service, places where the drop boxes should be placed, and some suggestions to overcome the problem.
For Corporate Boxes the task was straight forward but tricky to handle, A list of organizations that had salary account relationship with the Connaught Place branch was given, The idea was to visit the organizations meet the person concerned and explain to him in the most professional manner the function of the Corporate box and its advantage to the employees, get a set of documents signed that had details regarding the service and a letter that indicates that the organization is willing to accept the Corporate box, and then finally spend time with each employee of the organization for educating g them regarding the service and then enrolling them for the same. I was able to convince 5 organizations to install a corporate box and give leads of concerned person of 3 organizations however they required a senior person visiting them, and was unable to appointment with 2 organizations from a list of 10 organizations that I had to cover.
Download Full Project Report
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