AXIS Bank Marketing Mix: This article on the services marketing strategy from Axis Bank is discussed the seven P’s used by Axis bank and how the bank uses the most effective marketing strategies to expand its customer base as well as increase its position at the top of its position within the banking business.
Contents
Marketing Mix Of AXIS Bank
Marketing Mix Of AXIS Bank is brand-based. In Marketing Mix Of AXIS Bank, We will Learn About the four key elements of Marketing Mix: products, place, price, and Promotions. By paying attention to the following four components of the marketing mix, a business can maximize its chances of a product being recognized and bought by customers. We will be discussing AXIS Bank Marketing Mix. Below is the detailed Marketing Mix Of AXIS Bank.
Let’s talk about AXIS Bank Marketing Mix.
AXIS Bank Main Competitors
- ICICI Bank
- Farmers & Merchants Bancorp
- Hanmi Financial Corporation
- HDFC Bank Limited
- IDBI Bank.
AXIS Bank official website: www.axisbank.com
Product in the AXIS Bank Marketing Mix:
The principal product lines from AXIS Bank include Saving accounts as well as current Accounts as well as Demat Accounts. Other products include Home loans, personal loans, Credit cards, Insurance, etc.
To better market the products, the items are classified into Axis Bank and Axis Sales.
Products offered by Axis Bank are
- Saving Account
- Current Account
- Forex Department
- Salary Accounts
Products sold under Axis Sales are
- Home loan
- Personal loan
- Demat Account
Price in the Marketing Mix Of AXIS Bank:
The cost of the product is determined by the services offered by the Bank with respect to the particular product to its customers. The exact pricing is subject to change from time to date and is available on the website of Axis Bank.
Place in the AXIS Bank Marketing Mix:
The location plays a significant aspect in articulating the service offered. Service quality is judged by a large number of customers through the location of delivery, attraction, interiors, ambiance, and more. If a bank’s location is in a bustling market, the location or the place is a negative factor. It will be cannibalization. Offering high-quality tangibles in the shape of location or place and interiors is crucial to appeal to the consumer segment. In recent times certain privately owned banks in India such as AXIS Bank are providing very attractive tangibles in the shape of their exteriors, locations, and insides.
Promotions in the AXIS Bank Marketing Mix:
- Visualization
- Association
- Physical representation
- Documentation.
Visualization can be used to promote services via hoardings and posters, as well as TV and print advertisements. The physical representation of services can have an appealing promotional value to consumers, such as the making use of colors to represent prestige and wealth. Service providers employ documents in their promotional campaigns to support their claims about reliability as well as their popularity and speed of response.
This is the Marketing Mix Of AXIS Bank. Please let us know if you have additional suggestions to add.
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