It is my great pleasure to submit my internship report on "Promotional Activities of Trust Bank Limited" prepared under your supervision. I have done my best to fill the report with all the information that I have gathered during my stay with Trust Bank Limited. This is to certify that the work incorporated in the internship report titled “Promotional Activities of Trust Bank Limited” is a record of work done by Mafuja Akter, with ID: BBA1801013093 under my guidance and supervision for the award of the Degree of Bachelor of Business Administration in the Faculty of Business Administration of Sonargaon University.
The report is from three months of work at Trust Bank Limited, Mirpur DOHS Branch, Dhaka. The main objective of the study is to assess the promotional activities in the banking industry in Bangladesh focusing on Trust Bank Limited. In the third chapter I have discussed the organization which represents an overview of Trust Bank Limited.
In chapter four, I have discussed my internship experience during my stay at Trust Bank Limited.
Introduction
Origin of the Report
Objectives of the Report
Methodology of the Report
Scope of the Study
Limitations of the Report
Chapter Two Literature Review
Literature Review
It is carried out through the five elements of the promotional mix, including advertising, sales promotion, personal selling, public relations, and direct marketing (Czinkota & Ronkainen, 2004). With the growing importance of the financial sector, pressure is escalating for more effective marketing management of financial services. Despite the recent recessions, the financial services sector continues to grow in terms of turnover and profit and thus has a huge impact on the other sectors of the economy.
Financial institutions are realizing that their established promotional practices are ill-suited to the new market conditions as the number of customers in the industry grows. Traditionally, banks have tried to reach everyone in the community, but recent research suggests that banks should strive to identify and serve microsegments (Dawes & Brown, 2000). This makes staff one of the most important resources of a bank.
After the year 1969, the deposits of banks increased more than 80 times due to the nationalization of banks. Currently, it has become very difficult due to the changing trends of the industry, increasing competition and efficiency of the regulatory environment and the financial system. This is the time when banks regularly introduce new and innovative services in the market.
The content of promotional materials should help the customer make the most valuable decision. It can be said with certainty that well-designed promotional strategies are of great importance in promoting banking services effectively. The most frustrating aspects of bank marketing are lack of managerial support, lack of interdepartmental cooperation, crisis management, government interference, and advertising and media problems (Berry et al., 1980).
Convenience of location, speed of service, competence and friendliness of bank personnel are also the most important points with the highest value of banking services (Laroche et al., 1986). Meidan (1976) states that about 90.00% of the respondents did business in the branch closest to their hometown and place of work.
Chapter Three Organizational Profile
- Historical Background of Trust Bank Limited
- Company Profile
- Mission
- Vision
- Organogram of Trust Bank Limited
- Branch Locations of Trust Bank Limited
- Major Operational Areas
- Retail Banking
- SME Banking
- Islamic Banking
- Corporate Banking
Trust Bank Limited is a private, commercial, scheduled bank which obtained a Bangladesh Bank license on 15 July 1999. The idea of establishing a bank by the Bangladesh Army was first conceived in 1987 and on 29 November 1999 the first branch was established. of Trust Bank Limited started operations. The Board of Directors of Trust Bank Limited consists of ex-officio directors of senior military personnel, with the Chief of Army Staff as its Chairman and the Assistant General as its Vice-Chairman.
The bank is sponsored by the Army Welfare Trust (AWT) and is the first of its kind in the country with a wide range of modern financial products for businesses and consumers. Trust Bank Limited has been operating in Bangladesh since 1999 and has gained public trust as a solid and stable bank. Meanwhile, the bank extended lending to almost all sectors of the country's economy.
The bank plans to invest extensively in the country's industrial and agricultural sectors in the coming days. Be a leading commercial bank, with a social focus that helps in the economic development of the country. Ashulia Branch Trust Bank Limited, Ashulia Branch, Chowdhury Bhaban (1st Floor), Baipail, EPZ Road, Ashulia, Dhaka.
চাঁপাইনবাবগঞ্জ শাখা বোরো ইন্দারা মোড়, ১৬ ঝিলিম রোড, কোতয়ালী, চাঁপাইতে একটি পাঁচতলা ভবনের ১ম ও ২য় তলা। শাখার অধীনে চন্ডিপুল ইকবাল টাওয়ার সেন্টার (১ম তলা), চন্ডিপুল, মৌজা: বোলদি, ইউনিয়ন: বোরোইকান্দি, থানা: দক্ষিণ সুরমা, জেলা: সিলেট চৌমুহনী শাখা ১ম ও ২য়, হোল্ডিং নং। কারওয়ান বাজার শাখা ইডিবি ট্রেড সেন্টার, ৯৩ কাজী নজরুল ইসলাম এভিনিউ, ১ম তলা ঢাকা কেরানীগঞ্জ শাখা, আজহার প্লাজা, ফেরি ঘাট, বাস রোড, জিঞ্জিরা,।
Kishoreganj Branch Holding No: 673, 1st Floor, Haji Abdul Majid Building, Ishakhan Road, Terripatty, Bara Bazar, Kishoreganj Kushtia Branch 1st Floor of Shatabdi Bhaban, Holding No-92/A, Nawab. Ramu Tak Alhaj Zahed Shopping Complex, 1st Floor, Opposite Ramu Girls School, Chowmuhani, Ramu, Cox's Bazar. Generally, Trust Bank has divided the corporate banking sector into three different aspects; these are briefly given and described below.
Securities Services: Primary services offered where Trust Bank Limited will be responsible for maintaining the security of custody assets held in physical form with the Custodian.
Chapter Four Internship Experience
- Internship Experience
- Duties and responsibilities
- Learnings
- Observations
Trust Bank Limited gave me the opportunity to work in the banking industry where I learned many things. The task I performed during the term of my internship surely enriched my skills and this work experience in a bank was very beneficial for me. As it helped me to learn how to work under pressure, manage time efficiently, deal with clients etc.
In the beginning, Trust Bank Limited put me in the account opening session, where I was given lessons about how to open an account, what are the requirements for opening an account, and so on. At Trust Bank Limited, account opening procedures are different for defense individuals than general people. A list of account opening numbers is provided from which the account number is to be taken and placed in the form and then kept in the software for future reference.
Through this software, the bank reports its current status to the head office and transacts from one place to another, which actually saves time. Receiving and sending ATM cards to another branch to process all the related procedures. Sends check book requisition to head office and receives check book from head office.
Since this is my first time working in a corporate world, there are so many things to learn. How to manage different types of customers at the same time as all are important to the organization. It also enabled us to know what type of problems we will encounter in the future and how to get rid of those problems as well.
All bank employees and managers are very friendly and always ready to help me. The command structure is excellent in the branch, but also in the other branches of the bank.
Chapter Five
Promotional Activities of Trust Bank Limited
Concept of Promotional Mix of Trust Bank Limited
Trust Bank promotional mix refers to the specific combination of the tools, channels and processes the bank uses to promote its offerings. Promotion is one of the four Ps in the marketing mix, next to Product, Price and Place, and perhaps the most important. The biggest challenge for marketers is finding the best possible mix of promotional elements to maximize the results of marketing efforts.
We will look at five tools and techniques that Trust Bank Limited uses in an effective promotional mix. Trust Bank Limited displays promotions to a large number of people using e-mails, websites, banner ads, television, radio, etc. This is one of the most effective ways of promoting Trust Bank Limited, as the sales representative can tailor the promotion precisely to those who are most likely to make a purchase.
On the other hand, this is the most expensive form of selling because Trust Bank Limited has to pay for one person's time. Sales Promotion: This is a series of short-term activities designed to encourage immediate purchase. Trust Bank Limited makes this a core part of their marketing efforts, although it is sometimes the most annoying form of communication for people.
Promotional Activities
Advertising through Social Activities: Trust Bank Limited is involved in various types of social activities and responsibilities which is another type of effective promotion. The bank has built some passenger sheds near bus stops where passengers can sit and wait for their bus. In addition, in 2019, the bank donated to the health sector of Bangladesh for rural development.
Chapter Six
Findings and Analysis
Findings
Trust Bank Limited encourages them by participating in various types of programs, sponsoring many events, organizing meetings, etc. Trust Bank Limited contributed BDT 39.95 million in 2020 towards disaster risk reduction and resilience building activities. In 2020, Trust Bank Limited continued to support various areas by donating BDT 167.91 million from its fund.
All Trust Bank Limited customers are entitled to a 10% discount on the base price at any time.
Analysis of Promotional Expenses
Chapter Seven
Recommendations and Conclusion
Recommendations
Developing more effective promotional strategies: Trust Bank Limited needs to focus more effectively on its promotional strategies. They need to use different types of effective promotional tools that promote their business in the competitive market. Although Trust Bank Limited is a fourth generation bank and has many competitors, they are short-sighted about their competitors.
For the development of their business they need to analyze the existing competitive market and understand the market strategies of competitors and take effective initiatives. They should develop different market strategies by giving additional facilities to vulnerable people of Bangladesh e.g. More focus on digital marketing platform: In this revolutionary period of internet, Trust Bank Limited should focus on digital marketing activities.
They need to develop a strong digital marketing strategy to increase their visibility in digital marketing platforms. They should concentrate more on digital marketing activities, such as Facebook, YouTube, Twitter post and increase the posts to reach customers. Focus on unique selling propositions: Trust Bank Limited should focus on unique selling propositions.
Conclusion
Bibliography
