童娟外文文献及翻译5.22.doc

原文与译文 MARKETING OF BANK PRODUCTS – EMERGING CHALLENGES NEW STRATEGIES Dr. R.K. Uppal Director, UGC Sponsored Major Research Project D.A.V. College, Malout (Punjab) Abstract:The present paper acknowledges with same limitation that Indian private sector banks and foreign bank’s marketing strategies are quite better than our public sector banks.The paper also suggests some strategies for the enhancement of bank marketing. Only those banks will survive in the future which will adopt effective and realistic strategy to win the trust of the customer. Keywords: Bank Marketing, Customer, Challenges and Strategies Introduction Banks Marketing is defined as a aggregate of function directed at providing service to satisfy customer’s financial needs and wants, more effectively than the competition keeping in view the organizational objective of the bank. The bank marketing has become a very complex yet interesting subject as it requires the knowledge of economics, sociology, psychology, banking and also core marketing concept (Sasanee, M.K. p. 5). In marketing, it is the customer who has the upper hand. The mantra of effective marketing bank products lies in the systematic and professional approach towards satisfying customers needs (Ojha, V.K. p. 19). Thus, banks have to set up “Research and Market Intelligence” wings so as to ensure customer satisfaction and to keep abreast of market development (Ananthakrishnan, G. p. 9). Product and Service A product is defined as “Anything that has the capacity to provide the satisfaction use or perhaps, the profit desired by the customer”. Product and service are the words used interchangeably in banking parlance. The bank products are deposit, borrowing or other product like credit card or foreign exchange transaction which are tangible and measurable whereas service can be such products plus the way/manner in which they are offered that can be expressed but cannot be measured i.e. intangibles. Better service is more important than just