A Study on Marketing Strategy of Banking Industry in India-Allahabad Bank

The Oldest Joint Stock Bank of the Country, Allahabad Bank was founded in April 24th of the year 1865 at the confluence city of Allahabad by a group of Europeans. At that occasion Organized Industry, Trade and Banking started taking shape in India. Thus, the History of the Bank spread over three Centuries – namely Nineteenth, Twentieth and Twenty-First. As a leading public sector commercial banks in India, Allahabad Bank offering banking products and services to corporate and commercial customers and retail customers. The Bank particularly focuses on the retail banking while serving all sectors of the Indian economy. Bank’s operations for corporate and commercial customers cater to large corporate customers as well as to small and middle market businesses and Government entities. Corporate and commercial products include Term Loans, Bill Discounting, Export Credit and other business credit and financing products. Also the bank offers a wide range of retail products including Home Loans, Personal Loans and Automobile Loans as well as Debit Cards. In addition, specialised products and services to the agricultural sector also one of entity of the bank. All the above products and services of the bank offered through extensive branch network, extension counters, ATMs, phone banking and the Internet. This article will be helpful in writing Project Report on Marketing.In Twentieth Century, The Bank became a part of P & O Banking Corporation’s group with a bid price of Rs.436 per share in 1920. The Head Office of the Bank was shifted to Calcutta on business considerations during the year of 1923. The Bank crossed its century year in 1965. In July 19th of the year 1969, Allahabad Bank was nationalized (with 151Branches – Rs.119 crores of Deposits and Rs.82 crores of Advances) along with 13 other banks. United Industrial Bank Ltd was merged with the bank in October of the year1989. The Bank made a foray into merchant banking activity in 1984 and subsequently instituted AllBank Finance Ltd as a wholly owned subsidiary for Merchant Banking in the year of 1991. The Official Language Implementation Committee of Calcutta awarded the Rajbhasha Shield to the Bank as Second Prize for its best performance for the year 1991. During the year 1995, The Bank had entered into an MOU with the Small Industries Development Bank of India (SIDBI) for financing small-scale industrial units. In 1996, The Bank had set up Information Technology Centre to provide in-depth computer training to Officers at Calcutta and Lucknow. Consequent to the SEBI Rules and Regulation the company surrendered its merchant banking registration in 1998 and got it registered as a Non Banking Financial Company (NBFC) with Reserve Bank of India (RBI). In the same year of 1998, the bank had received permission from the RBI for gold trading. Allahabad Bank has entered into an arrangement, informally though, with IDBI and ICICI in regard to funding of infrastructure projects. During the year 1999, Allahabad Bank has launched two new schemes to increase the pace of credit off take and in the same period TATA Consultancy Services (TCS) has entered into a contract with Bank for implementing the Integrated Standard Banking System (ISBS), a branch mechanisation package at 60 branches. The Bank bagged three major core sector clients, namely the National Thermal Power Corporation (NTPC), Power Grid Corporation and Indian Railway Finance Corporation Ltd (IRFC). This report shows that Allahabad Bank has performed well which is reflected in its Ratio Analysis Reports In Twenty-First Century, Allahabad Bank has launched its new personal loan scheme for pensioners in the year of 2001. As at October of the year 2002, the bank came out with Initial Public Offer (IPO) of 10 crores share of face value Rs.10 each, reducing Government shareholding to 71.16% and in the same year 2002, Allahabad has tied up with National Institute of Banking Management, Crisil and Earnst & Young for development of HRM, risk Management and general business strategy. The Bank has seized the commercial assets of the Guarantors of Ramolene Fabrics (P) Ltd in 2003 at Mumbai and signed a Memorandum of Understanding (MoU) with Corporation Bank for mutual sharing of their ATM Network. The Bank has entered into an MOU in the year of 2004 with the Export Credit Guarantee Corporation of India (ECGC) for distribution of their products to the exporters. UTI Mutual Fund and Allahabad Bank on April 5, 2004 announced a strategic tie-up for distribution of UTI MF schemes. During April of the year 2005, the bank made Follow on Public Offer (FPO) of 10 crores equity shares of face value Rs.10 each with a premium of Rs.72, reducing Government shareholding to 55.23%. The Bank has signed MoU with Mahindra Gujarat Tractor Ltd in the identical year 2005 for financing Hindustan brand tractor under special finance scheme. Allahabad Bank transcended beyond the National Boundary, Allahabad bank had opened a representative office at Shenzen, China in June 2006. In October of the same year 2006, the bank rolled out its first branch under Core Banking Services (CBS). During February of the year 2007, The Bank opened its first overseas branch at Hong Kong. During the calendar year of 2007, 100 more branches opened throughout the country, the total number of branches were stirred from 2042 to 2142 of which rural are 983 (46%), semi-urban 402 (19%), urban 450 (21%) and metropolitan 307 (14%). There is no doubt that reading Banking Industry Reports is essential for knowing the history of a bank. Allahabad Bank has opened its 2154th branch in at Pudukkottai, Tamil Nadu during March of the year 2008. The Bank has 211 ATM’s and Card members can now have access at over 16500 ATM’s all across the country under National Financial Switch. One of the premier nationalised banks of the country, Allahabad Bank has commenced the process of implementing the Agricultural Debt Waiver and Debt Relief Scheme-2008 in June of the year 2008. The Bank has improved its performance and established its visibility and strong presence in the market. The Bank is steadily moving at a faster pace to consolidate its position in the coming days introducing extensive computerization to ensure the state-of-the-art service comfort for its customers. The Bank has already in hand 116 authorizations for opening of new branches. Bank’s plan is to expand in areas where the Bank’s presence is not very much visible now and where business potentiality is good.

Sales Sells The First One, Service Sells The Rest

No business is just a buy-and-sell business in todays competition driven world. Customer service and superior after-sales have emerged as the two critical success-oriented techniques and the core drivers of competitive advantage.

Excellent after sales support can help improve customer retention, streamline service process, maximize efficiency and reduce overhead costs. But there are still a lot to it- customers of a business can be new ones, or current ones returning to buy more. The significance of good customer service can be seen in the fact that it costs 5 times as much to win a new customer than it is to retain the current one. This particularly goes well with short-term growth as the cost of acquiring new customers is typically much greater than the cost of retaining existing ones. With excellent after sales the repeat business is generally much cheaper for the company as their sales process is usually less intense. This is how the dictum goes Sales sells the first one, Service sells the rest. Let us understand this better with the help of an example. A mobile phone manufacturer may be a market leader, but if it has poor customer service, the customers may switch to its rivals. To stay ahead of the competition, he has to provide exceedingly good after-sales support that could bring back the customers- repeat customers we say them.

This repeat business can become much cheaper for the mobile manufacturer as its sales process would now be less intense and become more of an “order” taker effort. In contrast, poor after sales support could have made the sales process much more intensive. This would have required the sales function to overcome that poor after-sales support with more sales techniques like demos, sales calls, presentations, etc., which inculcate a higher cost.

Examination of the Problems Facing the Transport Industry

The transport industry is facing up to wide spread problems all the way across the board, from same day courier services through to heavy goods haulage firms. How the industry deals with these problems is a vital question in how we can move forwards beyond the difficulties posed by rising fuel prices, environmental concerns being levied on the industry and also the potential prospect of winters as harsh as the one that the UK recently experienced.

The recent cold snap has a massive effect on the transport industry, and continues to do so, as it presented multiple problems that courier services and those in the industry had to work around and deal with. First and foremost amongst these problems was the over-abundance of ice on the roads during this period. Many local councils were woefully unprepared for a winter as harsh as the one we had last, leading to salt supplies being much too low. This in turn led to many roads simply becoming unusable, especially in smaller suburbs or urban areas. Needless to say this had the potential to strike a crippling blow to the transport industry and, for many, it did just that. The industry, and Britain as a whole, was simply caught unawares by the difficulties posed by such a nasty winter, and this led to major problems for many businesses, however the transport industry was amongst the most prominently affected. Vehicles were forced off the roads and many companies simply had to shut up shop for a number of weeks, drastically affecting income.

This is something to we simply can’t afford to happen again, especially due to the potentially catastrophic effect it can have on smaller businesses and urgent courier services, who rely on their ability to get from A to B quickly. As such we need to ensure that local councils all over the country have adequate salt supplies should we face the same issues in the future. Not only this, but salt supplies need to evenly spread around. We, as an industry, simply can’t afford another winter like the one we just experienced and knowing that supplies could have been available in places that needed them simply rubbed salt into the wounds.

Internet Marketing People Buy From People They Trust And Like

You have seen the latest movie trailer of the Green Hornet on TV but you have mixed feelings about whether you would go to watch the movie in the cinema.

You find the acting too cheesy and the special effects too far-fetched. Are you going to spend your hard-earned twenty bucks to watch a movie that you might not like?

Probably not, but what if your brothers or sisters or you office colleague said that they have a wonderful time watching the attics of these actors and you would probably have changed your mind and go to queue for the tickets.

Why Pay per Click advertising is important for your business

Pay per Click Advertising, or its short form, PPC, is a good way to promote your business or website on the internet, since it will help you to get targeted traffic to your site, and, therefore, increase your sales.

The leading PPC platform, with approximately 75% market share, is Google AdWords. It works in two different sections, the search network and the display network. The first one permits you to announce on Googles result pages. The Ads will be displayed either on the right hand column or at the top of the search results. The main advantage of making your online marketing using the AdWords platform is that you will actually attract for you web site potential clients that are searching for exactly what you offer. This is what makes the PPC advertising different from other types of online marketing. The advertisements are showed in order to fulfill a demand. That is why the results are great and come fast.

The display network, on the other hand, allows you to promote your site or product on hosts’ websites. In this case, the Ads can be published in text, banner or video format. This is also a good way to build your brand on the internet and become famous among the users. In order to get the best of the PPC benefits, you can target your advertisement demographic and geographically. This method will ensure that you are going to promote your services among people who are more likely to become consumers and also to make people know new products or services that they would not search for.

Best Investment – How to Find the Best Investment

It’s easy. The best investment is the one whose profits you keep. If your profits vanish because you –

Hold until your profit turns into a loss.
Hold until a small loss turns into a big loss, and then a huge loss.
Hold so long your annual return turns small even when you do profit.

Then you’re not making the best investment. So what can you do? You need to know about Exit Strategy and Position Sizing.

Deciphering The Most Beneficial Home Business Ideas

When you are thinking of home based business tips, exactly what are the things that come to your thoughts? We all know that it is comfortable to work in the comfort of your home, but do you visualize your self in a huge organization in about 10 or 20 years? This is something which a lot of people are trying to take into account and they’re not trying this out simply because they feel that you can’t be successful if you will create a home-based business. Before you decide to guess the future you will likely have, try to have a look at the different benefits that you can obtain if you will start out your house business today.
Earning while you’re staying at home is unquestionably one of the explanations why many individuals are considering home-based companies. They will favor this set up rather than going to the office and worrying your self all day.

With all the internet business concepts that you have got, you’ll be able to literally make money in the convenience of your home. You don’t have to go outside and operate in the place of work.

Most of you’ve got always desired to work at home and you’ll be able to expect that a home-based business could make this feasible. This will definitely assist in decreasing the stress in your workplace.

How A Survey Questionnaire Can Help Your Business Succeed

If you are looking for the easiest way to uncover information about your customers today, you should definitely consider utilizing an Internet survey. If you take advantage of an survey questionnaire, you can contact your customers about a variety of different subjects and find out what they truly think about your company.

You can also ask questions related to what they think about newly released products and other aspects of your business that may be highly relevant to your business’ overall results. In most cases, you can even find out what customers believe you should do with your company in order to effectively serve their needs.

Finding out what customers believe you should do if often one of the most effective ways to utilize a survey, because you can acquire a great deal of valuable information by using a survey in this way. You can acquire information about how you can effectively shape your company’s services going into the future in order to effectively meet your customers needs.

Job opportunities in Auto transport industry

The auto transport industry gives a lot of job opportunities with a good career projection. These jobs are also available on both basis as a full time and part time. People in search of auto transport jobs should have qualities like devoted, loyal, motivated and hard-working. Career prospects in auto shipping industry are positive even for those who step in for the first time in this industry.

There are various types of Vehicle transport jobs available like Auto-Mover truck driver, Vehicle Shipping dispatcher, Customer service representative, Driver Car Hauler, CDL Driver, Military Vehicle Shipping job, owning your Own Truck Fleet, Intermediate Auto Mechanic etc.

You can find different jobs through classified advertising, from car dealers, and bidding sites. Consumers may demand for shippers who specialize in race cars, traditional and collectible cars, or loads with many vehicles. Persons moving often are in need of an auto transporter.

Open Innovation for Mobile and Telecom Brands

The most crucial element that contributes to a brand’s success
and longevity in today’s competitive era is, streamlining the process
of idea management and open innovation. In the recent past, we have seen
numerous creative initiatives taken by the mobile and telecommunication
brands in terms of compelling advertisements, online PR and branding
campaigns and many more. The objective behind all this is to deepen
their audience connect, that would result in better revenue, goodwill,
positive word of mouth publicity and solutions to business concerns.

Leading mobile giant Nokia sought help from the
process of open innovation sometime back. The famous Nokia tune known as
“Grand Valse” is one of the most recognized tunes in the world.
However, the brand wanted to come up with a fresh version of the same.
For this, Nokia launched a global crowd sourcing competition encouraging
people to create a new tune to be included in their 2012 product
portfolio along with the original tune. This competition witnessed the
creative inputs from young composers and musicians who used instruments
like pianos, ukuleles and trash cans to come up with a contemporary
version of the iconic Nokia tune initially launched in 1994. A panel of
judges were assigned to select the best tune that was original,
expressive and was distinctly the Nokia Tune in a remixed format.

Could
anyone have imagined that the latest Nokia Tune that audiences listen
to all over the world has been contributed by one of them? Perhaps a
decade back such an initiative would have been a rare phenomenon. Today
the story is diffrent. Mobile and telecom brands have realized that the
audience at large is their biggest source of ideas. Even an average
person having zero experience on how the telecom sector functions can
come up with a revoluationary thought that can enhance an organization’s
productivity and brand recall value exceptionally.