Promotional mix strategy in banks for bancassurance products

K. M. Rao
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Abstract

Banc assurance is the sale of insurance products through a Bank. Marketing is a process through which a business enterprise, institution or organization interacts with the customers and stakeholders with the objective to earn profit. Bank Marketing is viewed as a tool in achieving the organizational objectives of a bank. With this background, this paper intends to probe into Promotional Mix Strategies practiced by the banks based on the perceptions of bank customers. Marketing, as a philosophy, is expected to guide the people, functions and all departments of a bank. Now-a-days marketing philosophy is very essential to banks. To overcome various types of risks, both manmade and natural, banc assurance is a panacea and one-stop-shop for Coastal Karnataka people. The banc assurance model was not well-positioned in banks of this region and the people were not aware of the opportunities of banc assurance products and its nature. Many banks are unable to tap the demand of banc assurance because of their failure to understand the demographic profile, products, economic situation and marketing strategies to increase the sales of banc assurance products to enhance their profit and retain their customers. These are Canara Bank and Corporation Bank which are leading in Coastal Karnataka as far as banc assurance is concerned. Research conclusions and inferences drawn were based on the findings of this intensive study. Other banks were kept outside the purview of this study.
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银行对银行保险产品的促销组合策略
银行保险是指通过银行销售保险产品。市场营销是企业、机构或组织与客户和利益相关者互动的过程,目的是赚取利润。银行营销被视为实现银行组织目标的一种工具。在此背景下,本文旨在探讨银行基于客户感知的促销组合策略。市场营销作为一种理念,可以指导银行的人员、职能和各部门。如今的营销理念对银行来说非常重要。为了克服各种类型的风险,无论是人为的还是自然的,银行保险是卡纳塔克邦沿海人民的灵丹妙药和一站式服务。银行保险模式在本地区银行定位不佳,人们对银行保险产品的机会及其性质认识不足。许多银行由于不了解银行保险的人口特征、产品、经济状况和营销策略而无法挖掘银行保险的需求,从而增加银行保险产品的销售,从而提高银行的利润和留住客户。就银行保险而言,卡纳拉银行和公司银行在卡纳塔克邦沿海地区处于领先地位。研究结论和推论是基于这项深入研究的结果。其他银行被排除在这项研究的范围之外。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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