Impact of Marketing Collateral in Banks

Impact of Marketing Collateral in Banks INTRODUCTION About HDFC Bank: HDFC Bank was incorporated in August 1994, and, currently has a nationwide network of 2000 Branches and 5,471 ATMs in 996 Indian towns and cities. Differentiate to lead: Trust is a bankers 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 banks 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 banks contribution to the bustle of post liberalization has been incredible. The banks 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 banks 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 banks 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 banks 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 banks 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 â€Å"We Understand Your World† is only apt in the sense that if theres one word youd like to associate with HDFC bank it has to be ‘understanding. What is a Brand? The word brand is derived from the Old Norse â€Å"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 customers 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 brands image in the minds of people. Brand tracking is a methodology which helps in tracking and identifying the brands image i.e. what people perceive about the particular company. Identifying the brands 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 banks brand position as compared to its competitors. BENEFITS TO THE ORGANIZATION 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. 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 Banks local taglines. The brand awareness, visibility, likability and its recall value is calculated. Future marketing strategies can be designed using this information. 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 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. 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. 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 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 banks 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 banks 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: Hughes Road branch Sandoz house branch Khar Road branch Borivali branch Vashi branch Andheri branch Sanpada branch Zaveri branch APMC 2 branch 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: Hughes Road branch Sandoz house branch Khar Road branch Borivali branch Vashi branch Andheri branch Sanpada branch Zaveri branch APMC 2 branch 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? 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 Customers Non-Customers b) Customer friendly staff All data Customers Non-customers c) Speed of services All data Customers Ranks ICICI HDFC SBI AXIS Impact of Marketing Collateral in Banks Impact of Marketing Collateral in Banks INTRODUCTION About HDFC Bank: HDFC Bank was incorporated in August 1994, and, currently has a nationwide network of 2000 Branches and 5,471 ATMs in 996 Indian towns and cities. Differentiate to lead: Trust is a bankers 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 banks 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 banks contribution to the bustle of post liberalization has been incredible. The banks 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 banks 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 banks 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 banks 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 banks 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 â€Å"We Understand Your World† is only apt in the sense that if theres one word youd like to associate with HDFC bank it has to be ‘understanding. What is a Brand? The word brand is derived from the Old Norse â€Å"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 customers 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 brands image in the minds of people. Brand tracking is a methodology which helps in tracking and identifying the brands image i.e. what people perceive about the particular company. Identifying the brands 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 banks brand position as compared to its competitors. BENEFITS TO THE ORGANIZATION 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. 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 Banks local taglines. The brand awareness, visibility, likability and its recall value is calculated. Future marketing strategies can be designed using this information. 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 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. 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. 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 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 banks 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 banks 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: Hughes Road branch Sandoz house branch Khar Road branch Borivali branch Vashi branch Andheri branch Sanpada branch Zaveri branch APMC 2 branch 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: Hughes Road branch Sandoz house branch Khar Road branch Borivali branch Vashi branch Andheri branch Sanpada branch Zaveri branch APMC 2 branch 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? 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 Customers Non-Customers b) Customer friendly staff All data Customers Non-customers c) Speed of services All data Customers Ranks ICICI HDFC SBI AXIS

Related literature and studies Essay

This chapter contains the researched review done by the proponents about the related ideas regarding the social networking. The critique of both related studies and literature that are related to the present study. A. Related Literature Matt Mickiewicz (2010) stated that, Social networking refers to the act of building networks of people on specific websites. Social networking takes place among people who share something. A social networking site is just a means for building these social networks. These sites are made up of some web representation for each network member a list of their links or interests, and some kind of ‘hook’ or gimmick to set that particular site apart from the crowd. Social networking sites are web-based, and offer their users the ability to link and build networks freely. Members interact with email or private messaging using that site’s servers. (http://www.askdeb.com/blog/internet/what-are-social-networking-sites/) The present research is similar in a sense that members of the site interact with each other. It will help us to know the latest news update about the school and the upcoming program that were going to held. In the other hand, the school will also inform if th eir followers or the students are interested in the program or activities that the school prepared. Like Mickiewicz stated, a social networking refers to the act of building networks of people. According to usability expert Jakob Nielsen (2011) whose user-experience research firm Nielsen Norman Group today with easy-to-use social networking tools now fully entrenched and very popular inside corporate intranets a trend that took off last year a resultant new trend has emerged. Employees are sharing more of their knowledge more effectively and with more co-workers than ever before. Knowledge management has moved from being a clichà © to being a reality. Employees are the ultimate knowledge resource, and the winning intranets provided features to transform their behavior into manageable knowledge. In particular, organizations used social networking a natural inside the enterprise to give employees practical and simple ways to communicate with one another and even change the way work is  done at the organization. (http://www.hr.com/en/communities/jakob-nielsen-study-enterpriseintranet-social-ne_girm9g7z.html) The current research is different in a sense it is referring only to the communication of the employees in a certain organization. While in our website, we are much particular to the communication between school officials and students. One of our objectives is to enhance communication among students, faculty members, and school official and other empl oyees. Tom Geismar (2005) found out that, when it comes to online social networking, websites are commonly used. These websites are known as social sites. Social networking websites function like an online community of internet users. Depending on the website in question, many of these online community members share common interests in hobbies, religion, or politics. Once you are granted access to a social networking website you can begin to socialize. This socialization may include reading the profile pages of other members and possibly even contacting them. The present research is similar in a sense that the purpose of the website is to build socialization between members. Their common interests is that they are in a same community, same school which they are united. As Geismar stated, socialization may include reading profile pages of other members or even contacting with them. So the purpose is the same, we want to improve communication between students and make it easier for them to get information. We use Social Networking Websites because it is commonly used and more popular. According to Larry Brauner (2007), Social networking sites have each a unique protocol and don’t usually provide members with practical how-to advice to help use their sites effectively. They let us figure out the how-to on our own. To increase your number of connections, connect directly to as many other members as you can, especially well-connected members. You can send direct connections messages or emails whenever you wish. Join discussions in group s by posting or commenting when you have something valuable to add, but don’t spam the discussion board or post anything inappropriate. The current research is different in a sense that it is easy to use. Even though we don’t provide such guides to use the site, it’s easy to figure out what’s and how’s because it is user friendly. And also, the members don’t have to connect or add as many friends as they could just to have larger connections, it’s not like Facebook or Friendster. The members will interact with each other by creating post or leaving comment. Mark Zuckerburg (2007) stated that, there’s confusion around what the point of social networks is. A lot of different companies characterized as social networks have different goals some serve the function of business networking, some are media portals. What we’re trying to do is just make it really efficient for people to communicate, get information and share information. We always try to emphasize the utility component. What we figured is that if we could model what those connections were we could provide that information to a set of applications through which people want to share information, photos or videos or events. Social networking sites not serves as a community, or trying to build a community but trying to make new connections. The present research is similar in a sense were both aiming communication between people, to get information and share information. Members can share photos, video sot link to other members but not privately, it will be visible to all the members. Especially the events that will happen or will going to held by the school. It is the perfect location for posting announcements and sharing information. B. Related Studies Yong Yeol Ahn (2007) stated that the Social networking services are a fast-growing business in the Internet. However, it is unknown if online relationships and their growth patterns are the same as in real-life social networks. The Internet has been a vessel to expand our social networks in many ways. Social networking services (SNSs) are one successful example of such a role. It provides an online private space for individuals and tools for interacting with other people in the Internet. It help people find others of a common interest; establish a forum for discussion, exchange photos and personal news, and many more. The current research is different  in a sense that their Social networking services provide users with an online presence that contains shareable personal information, such as a birthday, hobbies, preferences, photographs, writings, etc. While our Social networking services offer features of convenience that help users form and maintain an online network with other us ers. We aim to develop a networking site that only focus to the event and other news that is happening in the school. Jawad Laraqui (2007), found out that an Online social networks are not a new phenomenon. They have evolved slowly into their current form as the popularity of the Internet increased, and as technical advances allowed services to support more complicated feature sets. In the 90s, the fledgling online communities were either easy to maintain message boards or static â€Å"homepage† style web sites hosted by extremely large companies. As technology became more inexpensive it made hosting more advanced social networks with more complex feature sets financially feasible for small companies. The present research is similar in a sense that we are both aiming a social network that has advance features or a unique one that will satisfy the needs of the people. We are going to develop a website that is exclusively for the students and employees of the school. Our school should be competitive to the innovation and enhancement that our technology seeking. Indeed, over the last decade, innovation in this space has always come from small startups. Peter Druschel (2007) stated that, unlike the Web, which is largely organized around content, online social networks are organized around users. Participating users join a network, publish their profile and any content, and create links to any other users with whom they associate. An in-depth understanding of the graph structure of online social networks is necessary to evaluate current systems, to design future online social network based systems, and to understand the impact of online social networks on the Internet. The present research is similar in a sense that the resulting social network provides a basis for maintaining social relationships, for finding users with similar interests, and for locating content and knowledge that has been  contributed or endorsed by other users. The only difference is that only the authorized personnel can edit or have the full control of the networking site. It is for the security and for the privacy of the users. Jasper A. Schelling (2007) studied that, most of the larger social networks share the same properties. User created profiles that describe characteristics, likes and dislikes, combined with a photo, a public friends list of mutual contacts, some form of messaging between users. Some form of blogging and the possibility to upload pictures and music. Looking at these technologies in retrospect it’s easy to see that the current social networking websites combine several of the older communication services. One of the major deficiencies with the current implementations in social networking services is their complete disregard of a hierarchy of social contacts. The current research is different in a sense that, though hierarchy might actually be too strong a word to describe the distinctions that people make in their social contacts, people make distinctions in their social interaction that drive how they interact and communicate with them. In our website we are more particular to the comments and suggestion of the users, especially to the students, their suggestion is a big help to the school administration for the improvement of the school. According to Fred Stutzman (2007), Social network websites enable individuals to represent their social networks in a computer-mediated context. While the exact value and meaning of the social connections represented in online social networks is variable there are distinct connections between the social networks represented in a computer-mediated context and the real world of the many narratives exploring use and outcomes of social network websites, perhaps the most common explores the public sharing o f personal identity information. Over the past four years, social network websites have achieved strong market penetration with a wide range of participants.

Causes Of The Great Depression Essay - 453 Words

Causes of the Great Depression Many people think that the Great Depression was caused solely by the stock market crash. Anybody who tells you this probably didn’t pass U.S. History in high school. The fact is, the Great Depression was caused many different factors. Four of which were overproduction, uneven distribution of wealth, protective tariffs, and the four â€Å"sick industries† of the 1920’s. nbsp;nbsp;nbsp;nbsp;nbsp;After World War I, new technological improvements helped factories to produce higher quantities of goods using smaller amounts of employees. Fewer workers meant less money being redistributed to the consumers to purchase products. America didn’t have a necessity for this higher quantity of goods with less people†¦show more content†¦In reaction to this, other nations stopped buying American-made goods and the United States’ economy floundered because of this. nbsp;nbsp;nbsp;nbsp;nbsp;During the 1920’s, four of America’s leading industries began to struggle. First, railroads had difficulties because of the growing competition from cars, trucks, and busses. Second, textiles floundered because of the foreign competition from India, China, Japan, and Latin America. Furthermore, the revolutionary transformation in women clothing reduced the amount of material needed and thus lowered the demand for cloth. Third, the coal mining industry struggled because of competition from cheaper, more widely available resources such as natural gas, oil, and hydroelectric power. Fourth, America’s agriculture industry staggered chiefly from overproduction. Many farmers borrowed money to expand their operations and couldn’t pay back their loans because the prices of crops dropped about 50 percent due to foreign agricultural competition. nbsp;nbsp;nbsp;nbsp;nbsp;In conclusion, the Great Depression can’t be attributed to just one cause. However, among overproduction; uneven distribution of wealth; protective tariffs; and the struggling of America’s leading industries, the largest contributor to causing the depression, in my opinion, was the unequal distribution of income. I believe this because if congress attempted to redistribute money to the consumers, people would have been able to purchaseShow MoreRelatedCauses Of The Great Depression1319 Words   |  6 Pageshaving classic satisfying life concluded when the Great Depression ushered in the negative trend that would impact the U.S. economy in 1929. Therefore, what happened? In this essay, we will discuss what the Great Depression was for the Americans, the causes of the Great Depression, and the U.S.’s recovery from the Great Depression. The Great Depression One of the terrifying times in the U.S. history is the Great Depression. 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Most historians agree it was a chain of events, one after another, that brought our country into chaos. Some events were more impactful than others. These events caused pandemonium amongRead MoreEssay on The Causes of the Great Depression697 Words   |  3 PagesThe Causes of The Great Depression History Imagine waking up one morning, only to find out that all your investments and savings are gone. So if your bank that you invested all your money in collapsed, you didn’t get any money back. This is what happened to millions of Americans during the 1930s. This era was called the great depression. The great depression was one of the worst economy issues we have ever had in history. It was a hard time for everyone. The great depression started in 1929Read More The Cause of the Great Depression Essay552 Words   |  3 PagesThe Cause of the Great Depression The economic expansion of the 1920’s, with its increased production of goods and high profits, culminated in immense consumer speculation that collapsed with disastrous results in 1929 causing America’s Great Depression. There were a number or contributing factors to the depression, with the largest and most important one being a general loss of confidence in the American economy. The reason it escalated was a general misunderstanding of recessions byRead MoreCauses Of The Great Depression And The Great Recession2292 Words   |  10 Pages1. Examine the causes of the Great Depression of the 1930s and consider what similarities and differences can be drawn with the problems from the financial and economic crisis which began in 2008. Introduction 2007-2009 in America has often been described as the worst economic crisis since the Great Depression in 1929. There was lots of debate whether the economy was slipping back to double dip recession but there is considerable evidence that the economic crisis in 2008 is worse than the crisisRead MoreCauses of the Great Depression Essay651 Words   |  3 PagesIn the 1920s, American economy had a great time. The vast majority of Americans in 1929 foresaw a continuation of the dizzying economic growth that had taken place in most of the decade. However, the prices of stock crested in early September of 1929. The price of stock fell gradually during most of September and early October. On â€Å"Black Tuesday† 29 October 1929, the stock market fell by forty points. After that, a historically great and long economic depression started and lasted until the start of

The Cyberspace Will Affect National Security Essay

From the advent of the Internet, there came with it the opportunity for any of its users to have access to any information they seeked right at their fingertips. With this access; entertainment, market opportunities, educational information, productivity, and global communication were able to grow and flourish, however with these gains seen came with it the weakening of the once secure national strength seen in nations. In the last two decades cyberspace has been defined as the fifth battleground’ for international relations, with the aspects of cyber war, cyber terrorism, and cybercrime as some of the largest threats to the security of the national and international community. (Popović, 2013) With this ‘fifth battleground’ of the cyberspace thrown into the international battlegrounds of old, its effectiveness and effect on the both the modern state and the international bodies of the world, posing the question of how will this increased accessibility to the cyberspace will affect national security in the coming years? As to why this issue of cyberspace is important enough to garner research on the subject, the main reason comes from the possible destructive nature cyberspace has the capabilities of exploiting. 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Turkle uses four main points to establish this argument. Her first point is that online identity is a textual construction. Secondly she states that online identity is a consequence-free moratorium. Turkles third point is online identity expands real identity. Finally, her last point states that online identity illustrates a cultural concept of multiplicityRead MoreCyber Security : The Security Of The Nation s Computer And Telecommunications Infrastructure1091 Words   |  5 PagesCyber Security can be defin ed as â€Å"The security of the nation’s computer and telecommunications infrastructure that include military, all forms of communications networking, electrical grids and power plants.† (Dhillon, 2013) The attacks can involve both public and private sectors including: †¢ Government Agencies †¢ Banks †¢ Power Companies †¢ Any other companies that utilizes computer and telecommunication systems. Very little research exists regarding power in information system (IS) security. 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