Conceptual Frame work of Marketing Mix

CHAPTER TWO

Conceptual Frame work of Marketing Mix

Marketing for Banks

Marketing is a total system of business activities designed to Plan, Price, Promotion and distribution satisfying goods and services to present and potential customers. According to the official definition of the American Marketing Association Marketing is the performance of Business activities that direct the flow of goods and services from producer to customer or user.

The concept of Banks Marketing has been defined by various Banks Marketers as that part of management activity that seeks to direct the flow of banking service profitability to selected customers. The adoption of the marketing concept will recognize that Banks Customers are changing in terms of their wants, needs; desires, expectations, and problems Banks must define these in explicit terms and then evaluate their offering in customer’s terms. That is satisfying customers’ needs at a profit to the Banks.

Marketing Mix Adopted by the Banks

Marketing mix is the mixture of controllable marketing variables that the firm uses to pursue the sought level of sales in the target market.

We cam say that the 4P’s are interrelated and must be blended into one integrated whole to satisfy some target markets needs and performances. So, marketing mix is a set of product, price, promotion and place which are interrelated.

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Limitation of the study

Limitation of the study

In undertaking this study, a number of problems were faced. Thus the study has several limitations. The limitations are:

a) Lack of knowledge:

As a student, in the research field, I have no past practical experience of data collection, data processing, data analyzing, integrating and presenting. So it is a limiting factor for obtain accurate information.

b) Lack of time

For the time limitation I could not gather more information to justify exact condition. The time constraints are limiting factors.

c) Small sample size:

The study is limited by the size of the sample. As the sample size is very small, geographical and regional differences could not be included.

f) Fund unavailability

I don’t have much financial support to conduct this study. I could not interview with more respondents covering the survey area.

g. Customers willingness

Most of the customer of the banks businessman and employee. So, they could not give me enough time to fill up questionnaire. Also they are not willing or afraid to provide appropriate data.

Selection Method and data collection

Sample Selection Method

Firstly, I have taken stratified sampling method. Stratified sampling means- Population is classified according to their characteristics. I have classified my population as strata, company, deader and businessman. Finally, I have used purposive sampling method.

Data collection period

The necessary data have been collected from 10 March to 2 July. The study covers five years period from 2001-2006 of four Banks.

Techniques of analysis

The data have been tabulated and analyzed with the help of different financial ratios, statistical tolls and computer.

Data Presentation

I have used graph, chart, table and diagram to analyze the data.

Data collection area

Data have been collected from the Four Banks of Rajshahi Metropolitan area.

Rationale of the study

The world is changing rapidly. We have to adjust with the changes. But these changes have not come in day night. Different industries are responsible for this. In this regard banking service has been changed the world from the different corner like life style of the people, business system, production system, investment system, government policy, technological improvement, etc. for this I have selected this field.

Sample area and size

Sample

Sample is a representative unit of a population. Few or all of the characteristics of population may posses by the sample. But it is mentionable that sample must be representative to the population. My samples are Branch managers, executives, officers and clients of the four banks.

Sample Area

Sample area means the scope of a research that will be conducted. Sample area is an important factor for conducting a research. I have taken Rajshahi Metropolitan City as my research area.

Sample size

Sample size means the range of sample that is how many samples are collected. Sample size is the great factor for getting tremendous result. The more sample size indicates the more accuracy of the research. I have tried to collect more samples as much as possible. My samples are shown in the below chart.

Table: Number of Different Sample Size

Sample unit	Number of sample
Branch managers	4
Executives	16
Officers	20
Clients	60
Total	100

Methodology

Methodology

In order to find out the marketing strategies and measure the customer satisfaction level of private scheduled bank of Brac Bank, Dhaka Bank, Islami Bank and Prime Bank I have used various method to collect and present data. Mainly I used two types of data for this purpose-

1.   Primary data

2.   Secondary data

Primary data: This report has prepared through extensive use of primary data. It is collected from group of people who are related with this bank. The following methods are used in collecting primary data. These are

a)   Direct interviewing: I have collected data from the branch manager, executives, officers and bank clients with the protested and well designed questionnaire.

b)   Personal communication: I have gathered data through personal communication with the officers, executives, managers and clients of the bank branch.

c)   Observation method:  I went to every department of four Banks and observe their activities.

Secondary data: Secondary sources are those which are published or processed materials. I have collected secondary data from the following sources-

1.   Various types of official documents

2.   Some published research report, books, journal and articles

3.   Personnel departments of four Banks

4.   File study, some books on Banking theory and practice

5.   Loans and advance manuals

      6. Different books of service marketing