Marketing Management ProjectMarketing Management Projecton on
Kotak Mahindra Credit Kotak Mahindra Credit CardsCards
Presented Presented by:by:
Yogini GorivaleYogini Gorivale7171
Prafull IgawePrafull Igawe 7373Ashish JainAshish Jain 7474Nidhi JainNidhi Jain 7575Avinash YadavAvinash Yadav
116116
Project FlowProject Flow
• Introduction• Kotak Credit Cards• Statistics• SWOT Analysis• Mission and Vision Statements• Strategic Planning Teams- Roles & Responsibilities• Customer Relationship• Learning and Development• Measures of Security Enhancement• Cost & Revenue• Media Plan• Conclusion
IntroductionIntroduction
• Kotak Incorporated in 1985 • Kotak was recognized as a bank in February 2003• First company in the Indian banking history to be converted
from a private financial institution to a bank.• Presence in 344 cities and towns across India with more
than 20,000 employees• Operates internationally in countries like New York, London,
Dubai, Mauritius and Singapore. • Serves around 3.6 million customer accounts.
Kotak Credit Cards - First Look
Kotak Mahindra Bank announced the launch of its suite of Simple and Powerful Credit Cards on April 15, 2008, Mumbai.
Cards offered at launch included 2 Visa Gold Cards, a Visa Platinum Card and a Visa Signature Card.
Kotak has also taken a fresh approach on card design and has introduced India’s 1st vertical card.
Kotak Credit Cards have been built on 3 core tenets-Relevant - benefits that reflect what customers do mostSimplified- credit that is easy to use,Transparent- clear communication of charges
Widespread ChoicesWidespread Choices
Royale Signature Card NRI Royale Card Delight Platinum Card League Platinum Card PVR Kotak Card Aqua Gold Card Urbane Gold Card Fortune Gold Card Easyday Kotak Card Best Price Card Corporate Card
Statistics…
Items Mar 12 Jun 12 Sep 12 Dec 12
*Group Aggregate
Dec 12
On- Site 318 338 351 357 10745Off- Site 530 520 515 550 22926
No. of outstanding cards 203102 228777 258130 295983 10554746
ATM 2361 2128 2270 3068 98845POS 304333 345713 382195 475248 17688149
ATM 20.40 18.28 18.76 21.70 596.40 POS 910.10 1,039.79 1,131.23 1,423.50 52,684.90
No of Transactions
Amount of Transactions ( ̀Million)
*Group Aggregate indicates total of all New Private Sector Banks which includes DCB, HDFC, ICICI, IndusInd, Kotak, Axis, Yes
No. of ATM's
SWOT AnalysisSWOT Analysis
• Strengths
New Generation BankValue added services –(Balance Transfer, Convert to EMI, Cash at Ease, Add-on card, Safe IVR Transactions, CPP card Protection)Personalized Banking FacilityMobile Wallet (Mobile Banking)Customer account base over 3.6 million
SWOT Analysis Contd.SWOT Analysis Contd.
• Weaknesses
New in the marketLess number of ATM’s Limited accessibility in remote areasLesser publicity and marketing as compared to other premium banks
SWOT Analysis Contd.SWOT Analysis Contd.
• OpportunitiesTarget Niche Market, concentrate on Tier-2, Tier-3 cities.
Create Distinguishable Product (For different customer segments)
Tie-up with Government authorities for services like- Railway Tickets Reservations
Government Examinations
Greater scope for acquisitions and strategic alliances due to strong financial position
SWOT Analysis Contd.SWOT Analysis Contd.
• Threats
Presence of very strong competitors like HDFC, AXIS, SBI
Changing Economic scenario, slowdown of economy.
New upcoming Banks in retail
Stringent Banking Norms
Vision StatementVision Statement
To be A Global Indian Financial Service BrandTo be The Most Preferred Employer in Financial ServicesTo be The Most Trusted Financial Service CompanyValue Creation for its customers
“Let’s make money simple”
Strategic Planning Teams; Roles and Responsibilities
Team Responsibilities Members Stakeholders Represented
Strategic Management Team
Provide overall leadership, direction and ownership of planning process
6-12 Seniors, Managers, HOD'sChampion support of the projectDedicate resourcesSet Strategic FoundationsOne SMT team member appointed to each Strategic Theme Team
Stakeholder Focus GroupsProvide input to assessment process
12-18Clients, community, partners,
stakeholdersIdentify SWOTSuggest improvements
Theme Teams
Provide extensive subject matter expertise
4-8 Accounting, IT, HR, Marketing
Build Theme strategy mapsProvide broad organizational representationEnsure ownership and task-oriented contribution to Review and Revision processSupport implementation
Communications Team
Create a “buzz” around the new system
3-6Communications staff,
employeesPrepare a communications planCommunicate benefits, costs, and impacts to the Company
Customer RelationshipCustomer Relationship
• Incorporate in business planning• Change attitude towards customer service
department• Integrate with marketing• Adopt retention pricing• Manage expectations• Focus on customers’ convenience; not yours
Training and Development
• On the job training
• Apprenticeship
• Demonstration
• Formal Training
Measures for Security Enhancement
• Chip and Pin Technology
• We monitor your accounts, 24/7
• Aadhar based biometric identification
• Net Code
Costs & Revenue
Costs:Interest ExpensesOperating CostAdvertisement Charge OffsRewardsFraud
Revenues:Interchange feeInterest on outstanding
balanceLate Payment or overdue
paymentsOverlimit feesPayment processing feesTransactions in foreign
currencyMembership fees
Fee StructureFee & Other Parameters Fortune Trump Urbane Royale
Joining Fees Nil Nil Nil 25000
Annual Fees Nil 499 199 Nil
Condition for waiver of Annual Fees - First Year N.A. N.A.
Retail transaction within 3 months of Card and min retail spends of 15000 in the 1st year of Card N.A.
Cond. for waiver of Annual Fees - 2nd Year onwards N.A. N.A.
Minimum retail spend of 15000 in the year N.A.
Add On Card Fees 299 299 299 Nil
Interest Charges on Revolving Credit 3.30% 3.30% 3.30% 3.10%
Minimum Amount Due 10% 10% 10% 10%
ATM Cash Withdrawal / Fund Transfer / Cash Advance per 10,000 or part thereof 199 300 300 300
Late Payment Charge 550 550 550 550
Over Limit Charge 500 500 500 500
Returned Cheque Charges 500 500 500 300
Foreign Currency Mark Up 3.50% 3.50% 3.50% 3.50%
Fee for Cash Payment at Branch 75 75 75 75
Reissue / Replacement Card & PIN Waived Waived Waived Waived
Balance Enquiry Chrgs at Non Parent Bank ATM Waived Waived Waived Waived
Duplicate Statement Request Waived Waived Waived Waived
Suggestions
The charges on Reissue/ Replacement of Card and Pin, and Duplicate Statement Request are waived off at present, but we suggest a nominal fee of Rs.25/- can be charged.
These charges will increase our revenue substantially.
Media Plan..
Media planning is about connecting people and companies
Media Objectives:
Create awareness of Kotak Credit Cards nationwide.
Target 23-36 year old with an income over Rs.20,000 per month.
Use media that will effectively communicate the joy of owning a Kotak Credit Card .
Media Plan Contd..
Media Strategy
Focus on- Newspapers (Times of India, Economic Times),Outdoor Advertising, Social Medias (Facebook, Twitter and LinkedIn) and Television (Business and Sports Channels) as mediums to create awareness for the target market.
Provide continuing support throughout the campaign.
ConclusionConclusion
• Customer is the king • “Engagement = Motivation = Performance =
Productivity = Profitability”• “Regarding engagement, yes we need to pay
people more – pay them more attention! It’s just not about the money.”
• “What if you train people and they leave? Worse still is not training them and they stay.”
• Be proactive not reactive
Thank you
Top Related