Internal customers are
members or staffs or outside suppliers of an organization who are directly
associated with that organization. This means, if one department or individual
within an organization supplies another such within the same organization with
goods or services, then the latter is described as the internal customer of the
former.
For example, a dispatch
department can be the internal customer of a packaging department, which in
turn may be the internal customer of the manufacturing department. Anyone in
the organization can be an internal customer.
An internal customer
can be a co-worker in another department or in the same department, a
distributor who depends upon us to provide products or services which in turn
are utilized to create a deliverable for the external customer. In general,
internal customers don't have a choice. For example, if the sales department
doesn't like accounting's policies, they can't fire that department and hire
another.
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External customers, on the other hand, are the people who are not directly associated with the organization. An external customer is someone who pays the employer, and ultimately facilitates their paycheck.
In the modern competitive market, the scope of external customers is really huge as there is a lot of preference open before them. If the products or services are unable to satisfy their needs they have the option to shift the business else where. While using the word customer, the primary thing that comes to our mind is external customer.
Customers can also be further categorized into intermediate customer and ultimate customer An intermediate customer is a dealer or trader who purchases goods for re-sale. An intermediate customer can be an organization or individual who operate as distributor or dealer between the supplier and the consumer. An intermediate customer is not a consumer at all.
The ultimate customers on the other hand can be called consumers because they do not re-sale the purchased goods or products. Therefore it can be said that the person who buys and uses a particular product in its final form is an ultimate customer.
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Marketing scope develops day to day.
These developments carry special significance for service sector in which
customer and service producer interact closely.
INTERNAL MARKETING
Especially in service sector like
external relations, internal relations also have significance. It requires
finding and keeping successful personnel.
For personnel of the organization to be
considered their own goals and service situation, values of the organization
are sold to them. The communication techniques carried out for customers are
also performed for the personnel in internal marketing and this two techniques go
together. For example, the ads that aim creating firm’s image should be
prepared with regarding to audience which is composed of firm’s personnel.
NETWORK MARKETING
This approach takes the organization as
a sequence which involves producer and customer that market services to each
other in the organization. In this structure, the activities of departments
that compose organization would be more focused on market. This will also
affect the structure of organization.
RELATIONSHIP MARKETING
It was mentioned that close
relationship was established between producer and customer in service sector.
In addition to this, life cycle of a customer relationship was also mentioned
under the product outline.
According to the researchers,
maintaining the relationship for extant customer increases the profit of firms.
It should be emphasized that this fact has an importance for service sector.
Life cycle of a customer relationship
is composed of three stages. At the first stage, firms try to be well known and
to acquire new customers. At the second stage, the connection between customer
and firm has been achieved. During the stage, firms intensified their
activities on acquired customers and both of them promises mutually. At the
third stage, these promises are accomplished and the service is consumed.
During the stage, firms face “Reality Instants” which could possibly achieve
satisfaction of customer and continuous relationship.
This could be also true for second
stage. So, these instants should be managed successfully.
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Awareness among Customers
Modern
technology has made customers aware of the developments in the economic environment,
which includes the financial system. Financial needs of the customers have grown
multifold into various forms like quick cash accessibility,
money transfer, asset security, increased return on surplus funds,
financial advice, deferred payments etc. With a wide network of branches,
even in a dissimilar banking scenario, customers expect the banks to offer a
more and better service to match their demands and this has compelled banks to
take up marketing in right earnest.
Quality as a Key Factor
With the opening up of the economy, fast change has been
experienced in every
activity, and banking has been no exemption. Quality is the watch word in the
competitive world, which is market driven and banks have had to face up to this
emerging scenario. In fact, it may not be out of place to reiterate that
quality will in future be the sole determinant of successful banking ventures
and marketing has to focus on this most crucial need of the hour.
Growing
Competition
Increased
completion is being faced by the banking industry from within the system with
other agencies both, local and foreign, offering value added services. Competition
is no more confined to resource mobilization but also to lending and other
areas of banking activity. The foreign commercial bank with their superior
technology, speed in operations and imaginative positioning of their services
has also provided the necessary impetus to the Indian banks to innovate and
complete in the market place.
Technological
Advances
Technological
innovation has resulted in financial product development especially in the
international and investment banking areas. The western experience has
demonstrated that technology has not only made execution of work faster
but has also resulted in greater availability of manpower for
customer Contact.
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The main features of Bank Marketing
are-
1. Banking product cannot be seen or
touched like manufactured products (intangibility)
2. In marketing banking products, the
product and the seller are inseparable; they together define the banking
product (inseparability)
3. Banking products are products and
delivered at the same time; they cannot be stored and inspected before
delivering’ (perishability)
4. Standardization of banking product
is difficult (variability)
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Mainly there are two types of
product in Bank. These are
· Deposits
– Banks accept the deposits of the
public. In order to attract the savings of the people, the bank provides every
sort of facility and inspiration to them and collects the scattered savings of
the society. The bank opens an account of those people who deposit their
savings with the bank. These deposit accounts can mainly be of three types and
people can open any of these three types of accounts according to their wish.
These accounts are current account, saving bank account, fixed deposit account.
· Loans
– The bank just don’t keep with
themselves the deposited amount of the people, rather they advance them in the
form of loans to the businessman and entrepreneurs, just to earn profits for
their partners. The loanee keeps some gold, silver, fixed and variable assets
in the form of security with the bank. The bank can advance loan to their
customers in three ways: overdrafts, money at call, discounting bills of
exchange.
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There are some approaches to bank marketing. These are discussed
below:
· Identifying
the customer’s financial needs and wants.
· Develop
appropriate banking products and services to meet customer’s needs.
· Determine
the prices for the products/services developed.
· Advertise
and promote the product to existing and potential customer of financial
services.
· Set up
suitable distribution channels and bank branches.
· Forecasting
and research of future market needs.
From the above discussion of bank marketing, it can be understood that the existence
of the bank has little value without the existence of the customer. The key
task of the bank is not only to create and win more and more customers but also
to retain them through effective customer service. Customers are attracted
through promises and are retained through satisfaction of expectations, needs
and wants. Marketing as related to banking is to define an appropriate promise
to a customer through a range of services (products) and also to ensure
effective delivery through satisfaction. The actual satisfaction delivered to a
customer depends upon how the customer is interacted with. It goes on to
emphasize that every employee from the topmost executive to the junior most
employee of the bank is market.
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