MARKETING IN BANKING &

INSURANCE
 Name of students Roll No.
1 Vaibhav Bhosle 108254
2 Kavilash Naik 108286
3 Kiran Poojary 108292
4 Vinod Prajapati 108293
5 Prasad Rabase 108294
6 Anand Dichwalkar 108310
 MARKETING MIX
DEFINITION
 The 'marketing mix' is a set of controllable,
tactical marketing tools that work together to
achieve company's objectives

 The marketing mix is the combination of

marketing activities that an organization
engages in so as to best meet the needs of its
target market.

 It is defined as the particular group of

variables offered to the market at a particular
point of time, depending on which the market
 The 7p’s The 7c’s
 Organisational facing customermer facing

 Product customer value

 Price cost
 Place convinience
 Promotion communication
 People caring
 Processes co-ordinated
 Physical evidence confirmation
PRODUCT
LEVEL CONTENT EXAMPLE
CORE Basic Permanent
accommodation
EXPECTED Basic+ minimum conditions Room, Bathroom,
kitchen, water supply,
water and electricity,
Security, cleanliness
AUGMENTED In addition to expected Security systems, Good
ambience and
cleanliness, recreational
amenities, social
infrastructure
POTENTIAL Exceed expectations. Beyond Schools, hospitals and
the usual temples/ churches/
mosques in the vicinity.
Loans and lower rates
 SERVICE
FLOWER

 CORE PRODUCT: in housing sector, the core

product is accommodation and the cost involved is
70% whereas the impact is 30%. 
 PRODUCT SURROUND: these are the add on
values in addition to the core service which provide
delight to the customers. For eg. 24 hours water and
electricity supply, phone lines and intercom facilities
etc which involves 30% cost though its impact is very
high on the customer’s i.e. 70%.
 PRICE
 Cost Based pricing: Capital projects and building activities are priced so that variable costs – the
costs incurred as the result of gaining the work – are covered. Ideally, the price also makes a
contribution to the fixed cost/total cost of the contracted organization. It is also necessary to
consider charges incurred by the contractor as result of having to underwrite the project from
inception to delivery and from the need to acquire any specialist equipment and expertise
necessary. 
 Price Discrimination  

 Product: different types of houses are priced at different rates. For eg. Bungalows, apartments,

chawls are priced differently.

 Builder’s also fix prices for different size apartments in the same building.
 Location: at different locations within the same area or same city ,the prices of property are

different. Eg: a house at borivali costs different than a house at nariman point.
 Time: depending on the fluctuating property rates the builder sets the prices of the building. Eg:

property rates prevailing today are much higher than those that were 2 3 years back.
 Pricing is also done depending on the income levels of the customers. Particular income level

people will choose a particular area according to their budget 

 
 Price is based on the combination of:
 What the market expects
 What the client can afford
 The nature of competition in the sector
 What the contractor can afford to work for
 Any specific factors concerning the particular job e.g.
location material used
 What is being agreed and paid for- whether completion of a
bldg or wider process offered supported by maintenance, pre
sale and after care agreements?
PLACE
 Channel of distribution: AGENTS AND BROKERS
 Product has to reach to the ultimate buyers, so company works with its
intermediaries to bring their product to their market. Marketing channel
performs he work of moving the goods from the producers to the
consumers.
 In the housing and the construction industry, constructions cannot be
transferred but here intermediaries (agents) transfer information to distinct
places about the availability of accommodations so that people not having
any idea about these constructions get to know about it distribution is
done .
 
 Market coverage strategy: EXCLUSIVE DISTRIBUTION
 In the housing sector, every builder sells flats through his own outlet and
not through other’s. In this industry distribution is done through real estate
agents, who acts as connecting tool between the consumer and the
provider.
PROMOTION
 The overall purpose of promotion is:
 
 Building, developing and enhancing reputation and confidence;
 Presentation of achievements, capabilities and expertise, and
relating two to the needs and wants of customer and potential
customers, the key is to use the language media – especially the
language of the receiver (both client and potential client and also
within the industry), and to develop the media within organization
so that expertise and capability are shown in the best possible light
in the eyes of receivers.
PROMOTION MIX
 

ADVERTISING:

PERSONAL SELLING:

Billboards, hoardings and also on the perimeter fences and

gateways to project site

Attendance at trade, professional and regional fairs and exhibitions

Making most of positive media coverage:

Other forms of general positive public relations activities:

PEOPLE
 
 The people in the housing and construction industry can be divided into two groups.

 1) Those who develop the product: They consist of location hunters’ architects and
builders.
 2) Those who market the product: These consist of marketing people who may or
may not have a civil engineering background but certainly have the skills of
understanding the customer as well as the product.
 
 ROLE OF EMPLOYEES

 Primary role: The core role is to develop the building. i.e. builder, contractor.
 Facilitating role: The workers help in constructing the building hence they are the
facilitators.
 Ancillary role: eg. Interior designer, architect etc.
PHYSICAL EVIDENCE
 A service industry can develop a more attractive
service environment where a service can be
delivered. In the housing and the construction,
sample houses photographs and posters of
previous achievement can be displayed in
construction offices or those can be shown to the
customers when they come for enquiry gets
attracted to it.
PHYSICAL EVIDENCE
 PROCESS
Service Company can design a superior delivery
process. Because of heavy initial, capital investment,
long gestation period and a speculative tendency
(irregular demand) housing and construction industry
works other peoples money i.e. construction begins
with advance booking and then customers are suppose
to pay installments most of the payment is made after
the product has been handed over this strongly
experiences intangibility aspect of this industry.
 Stages in Process:

 Pre-Transaction Stage: Checking online the

property rates, brochures, contacting the agent
 Transaction Stage: Meeting with the agent,
negotiating, payment, negotiation on maintenance,
garage, documents of NOC, OC.
 Post Transaction Stage: Maintenance, security,
setting up the home