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INTERDISCIPLINARY JOURNAL OF CONTEMPORARY RESEARCH IN BUSINESS
JUNE 2011
VOL 3, NO 2
An Empirical study on Functional strategies and Infrastructure strategies
adopted by Banks
Uma Rani T.S.
Asst Prof, MBA Department, J.J.College of Engineering and Technology, Trichy.
Dr. Rtn. N. Panchanatham,
Professor & Head, Department of Busines Administration, Annamalai University,
Chidambaram.
Abstract
Considerable growth has been takes place in the field of marketing strategies adopted by Banks.
The main objective of this research paper is to identify the customer perception and preference
towards the marketing strategies adopted by the Banks. Here the Various dimensions of
functional strategies and Infrastructure strategies are analysed using Factor analysis to identify
the factors that influence the selection of the banks. The data was collected from 200 customers
of public and private sector banks using the structured interview schedules. The result showed
that there exist the relationship among the variables of Functional and Infrastructure Strategies.
Thus the bank must give importance to these variables in order to be effective.
Key Words: Functional Strategies, Infrastructure Strategies, Customer Perception, Customer
preferences, Reliability, Secondary Services and Customer Retention.
1. Introduction
A banker should treat every customer who visits the bank as though he\ she were the most
important customer. To attain success, customer-centric functional business strategies are
essential for any bank. Many banks have a Customer Banking Terminal near the entrance in the
banking hall. The primary focus of marketing strategy is to effectively allocate and coordinate
marketing resources and activities to accomplish the firm’s objectives within a specific productmarket.
The customer can use the terminal for some of the facilities listed below:
• Balance enquiry
• Statement of accounts.
• Daily inward cheques enquiry
• Outstanding outward cheques deposited/ purchased inquiry.
• Outstation cheques deposited/ purchased inquiry.
• Account summary.
• Password change.
How to go about rendering good customer service:
• Be courteous, polite.
• Welcome smile and good body language.
• Listen and respond.
• Empathize.
• Be open, honest and positive.
• Admit mistakes and shortcomings.
• Introduce tech-savvy products.
Without the aid of technology, no bank can prosper or improve the customer base. Earlier, the
depositor used to ask “Do you have cheque book facility?” But today’s prospective customer
COPY RIGHT © 2011 Institute of Interdisciplinary Business Research 1001