Nabil Bank Essay

4171 Words17 Pages
7P’s OF MARKETING 1. PRODUCT 2. PRICE 3. PROMOTION 4. PLACE 5. PEOPLE 6. PROCESS 7. PHYSICAL EVIDENCE [pic] 1. PRODUCT: A product means what we produce. If we produce goods, it means tangible product and when we produce or generate services, it means intangible service product. A product is both what a seller has to sell and a buyer has to buy. The banks primarily deal in services and therefore, the formulation of product mix is required to be in the face of changing business environment conditions. A proportional contraction in the number of customers is found affecting the business of public sector commercial banks. However, it is pertinent that banks formulate a package in tune with the changing business conditions. It is essential that every product is measured upto the accepted technical standards. This is because no consumer wouldbuy a product, which contains technical faults. Technical perfection in service is meant prompt delivery, quick disposal, and presentation of right data, right filing, proper documentation or so. If computers startdisobeying, the command and the customers get wrong facts, the use of technology would be a minus point, and you don’t have any excuse foryour faults. The enhanced customer patronage would be a reward to the bank. The additional attractions, the product attractiveness would be a plus point of your mix, which would help you in many ways. Nabil bank today can be termed as a full service bank in every sense which is able to meet entire range of financial requirements and services of its customers and clients. It provides various services like Accepting Deposits, Granting Commercial & Consumer Loans, Remittance, Trade Finance, Debit & Credit Card Services, and Bills Collection & Purchase Services to its valued customers. Besides these it has been a pioneer bank in

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