The report is an original work and is a partial requirement for the Master of Business Administration degree. It is a great pleasure to submit the internship report on 'Marketing Strategy of Janata Bank Limited' in fulfillment of a partial requirement of the MBA program. This is to confirm that the internship report on “Marketing Strategy of Janata Bank Limited” has been prepared by Rubaiya Ahmed (ID No. of MBA program as a partial requirement of the degree of Master of Business Administration).
The entire work of this internship report has been planned and executed by this student under the supervision and guidance of the faculty member of Sonargaon University Dhaka, Bangladesh.
Chapter One Introduction Part
Introduction
- Origin of the Report
- Background
- Importance of the study
- Limitations
The first objective of preparing this report is to fulfill the partial requirements of the MBA program. To make the report more meaningful and presentable, two sources of data and information have been extensively used. Practical exposures of work from different desks of different departments of the Branch covered.
The scope of the organizational work covers the organizational structure, background and goals, functional, departmental and business performance as a whole, and the main part covers the foreign exchange department.
CHAPTER - TWO Profile of Janata Bank Ltd
History of Janata Bank
- Vision of JB
- Commitments
- Goal of the Bank
- Board of Directors
- JB’s Library
- Branches
- Janata Bank Library
Our business initiatives are designed to meet the changing trade and industrial needs of the customers. The motto of JanataBank Ltd is to explore a new horizon of innovative, modern banking, create an automated and automated environment that provides one-stop service and prepare itself for the new. An eleven-member board of directors is responsible for the bank's strategic planning and general policy guidelines.
In addition, there is an executive committee of the board of directors, which disposes of urgent business proposals. In addition, the board has a three-member audit committee that oversees compliance on major regulatory and operational issues. Key issues are managed by a Board of Directors led by the CEO and Managing Director to facilitate quick decisions.
The library was established primarily with the aim of serving the Council's research team and the JB staff. The facility is also accessible to the bank's customers, researchers and the students of higher education. JanataBank has a strong network of branches to cover all the essential investments, trade and commerce of the country. Janata Bank Staff College, Dhaka and Janata Bank Library are the main two wings for launching philanthropic activities.
Janata Bank ltd has demonstrated that it can not only generate profits but also make a significant contribution in the field of providing a good source of knowledge by establishing a public library at 32, Topkhana Road, Chittagong Bhaban (1st Floor ), Dhaka, thereby strengthening social development. It houses 23,000 reference books for researchers, students, professionals, bankers, doctors, engineers, politicians, writers or journalists, even for the children.
CHAPTER THREE
Marketing strategy
Segmenting the market by audience age group is a great strategy for personalized marketing. Most of the products in the market are not universal to be used by all age groups. Therefore, by segmenting the market according to the target age group, marketers create better marketing and communication strategies and get better conversion rates.
It is also one of the most important factors in deciding whether the product is marketed as a need, want or luxury. The audience can also be segmented based on their familiarity with the product. People belonging to different regions may also have different reasons for using the same product.
Demographic segmentation divides the market on the basis of demographic variables such as age, gender, marital status, family size, income, religion, race, occupation, nationality, etc. The market is also segmented on the basis of the behavior, usage, preference, choices and behavior of the public. decision. The segments are usually divided based on their knowledge of the product and use of the product.
It is believed that knowledge of the product and its use influences a person's purchase decision. This segmentation process works on the premise that the consumer's buying behavior can be influenced by his personality and lifestyle.
3.2 Marketing mix
- Marketing Mix- Product
- Market positioning
- Determining Current Market Position -One of the telltale signs that a brand has neglected their market positioning is that they feel misunderstood by their target audience. If
- Competitor Positioning Analysis- Michael Porter of Harvard Business School says that there are five forces of competitive position analysis that determine the competitive intensity
- Competitor Compare and Contrast- Now gather together your company’s version of the same set of information that you sought out in the competitor analysis and the competitor
- Develop a Unique Positioning Idea- Once the ideal market position is identified the goal is to create a unique impression in the mind of customers that associates something specific
- Market targeting
- Undifferentiated (Mass) Marketing
- Differentiated (Segmented) Market Targeting C. Concentrated (Niche) Market Targeting
While they may be willing to hand over large sums of money in the future, it is inevitably more difficult to convince them to do so during the birth of a business. Always remember that a low price usually means an inferior product in the eyes of consumers as they compare your product to the competition. The concept was later popularized when Trout and co-author Al Ries published a bestseller in 1981 called Positioning – The Battle for Your Mind.
Ries and Trout's book describes positioning strategy as an organized system for finding a window into customers' minds, based on the idea that communication can only take place at the right time and under the right circumstances. The number of suppliers, the uniqueness of their products or services, their relative size and market power, and the cost of switching suppliers all factor into the answer. The number of buyers in the market, the importance of their patronage to the supplier and the buyer's switching cost between suppliers can be important.
Competitor Comparison and Contrast - Now gather your company's version of the same set of information you sought in the Competitor Analysis and the competitor's same set of information you sought in the Competitor Analysis and Competitor Positioning Analysis. Develop a unique positioning idea - Once the ideal market position is identified, the goal is to create a unique impression in the minds of customers that associates something specific is to create a unique impression in customers that associates something specific and desirable about your brand that differentiates from the other competitors in the space. With all this information in hand, you should be able to clearly and specifically state who you are as a company, who you are not, what problems exist in the market, how you solve those problems, and how you cater to the customer base. who will benefit from the solutions you offer.
Every word in the positioning statement is deliberate and supported by the data you've collected. It is clear that it will be able to achieve a stronger market position in the chosen segment because its knowledge of the needs of consumers in the niche is greater. The company can fine-tune its products, marketing program and prices to the specific needs of consumers in the niche.
The company simply cannot afford to lose one of the few but highly profitable customers.
Chapter four Conceptual Framework
- Bank
- General banking
- GB Sections
- Electronic funds transfer
- Automated Clearing House
- Cheques
- Fixed deposits
- Actual Task Part
- Job responsibilities
A telegraphic transfer or Telex Transfer, often abbreviated to TT, is an electronic means of transferring funds abroad. The Automated Clearing House (ACH) is an electronic network for financial transactions in the United States. ACH direct debit transfers include consumer payments for insurance premiums, mortgages, and other types of bills.
Checks are a type of bill and were developed as a way to make payments without the need to carry large amounts of money. The most popular form of Term Deposits are Fixed Deposits, while other forms of Term Deposits are Recurring Deposit and Flexi Fixed Deposits (the latter is actually a combination of Demand Deposit and Fixed Deposit). In the period of my three months internship program I got a post and some duties at Janata Bank Limited, Hatkhola Branch.
My observation and responsibility was in General Banking Department as opening and various types of DPS or FDR opening (Deposit Schemes). Abu Hena Mustofa Kamal and Mrs. Nasrin jahan, Managing Director of JanataBank Limited, Hatkhola Branch, manning the reception. At that time, I mainly worked in the customer service department and followed the rules and regulations of deposit schemes and the procedure that they followed in the deposit section.
There were several tasks done by me in the general banking department of Bank Limited (Hatkhola branch). Within this time various types of jobs were done by me and they are listed below.
Chapter five Function and Activities
- Accounts Opening
- Closing Accounts
- Receive Cheque Requisition
- Pay Order Issue
- Features of JB
- Authorized and Paid Up Capital
- Deposits
- Investment
- Grameen & Small Investment Scheme
- Activities of JB
- STRENGTHS I. Wide Image
- WEAKNESS
- THREATS
A payment order has been issued for the customer who wants to send money, not in cash, but in checks. The bank is committed to establishing a welfare-oriented banking system, economic upliftment of the legal income group and job creation. Depending on the needs and demands of the society and the country as a whole, the bank invests money in various halal activities.
The goal of this project is to introduce banking system in rural areas and villages, create employment through financing for low income group build savings attitude improvement of living standard of rural low income mass people, create. 27 opportunity to carry out lifestyle by alleviating poverty while making others economically established by investing in small introduced in two branches of JB viz. And the interest earned on the difference between loans and advances is the largest part of the banks' income.
Every day, cash that is the opening of cash balance is transferred to the cash officers from the cash vault. This is the final cash balance figure for the bank at the end of any particular day. There is an important clause and duty practiced by the branch is to refund the principal amount exceeding Tk.
Not surprisingly, in the competitive arena of marketing era, SWOT analysis is a must base on Product, Price, Place and Promotion of a financial institute like private bank. On the other hand, another factor is external factors that act as opportunity and threat.
Chapter six
Conclusion
This report provides a clear picture of the activities, function and operational strategies of Janata bank Limited. Over its 47 years in business, the bank has been widely praised by the business community, from small businessmen to conglomerates, for its forward-looking prospects and innovative financial solutions.
BIBLIOGRAPHY
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