UTI bank: gaining competitive advantage through promotions

Abstract

The objective of the project was to 'Design promotional campaigns and schemes for debit Cards and Travel Currency Cards'. The deliverables for the project were- To design schemes to expand the percentage of POS active customer base for the various debit card products of the Bank To increasing the revenue of the bank by increasing the POS usage of the travel currency cards The project involved analyzing the affect of existing modes of promotions. Thus, it involved collection of primary data from the customers. This was carried out in a phased manner; firstly, exploratory research was carried out and then a descriptive research was done. The exploratory research was done through one to one depth interview and pilot survey. For the final research, a questionnaire was designed and a survey was conducted. Both the qualitative and quantitative analysis was done on the data obtained. The secondary data was obtained from the fractal report. Some of the results and interpretations are- The maximum people are unaware about the offers and schemes associated with the debit cards Promotions and offers do affect the decision of the people regarding the card usage The people spend most on clothes and then on grocery items The recall of promotions at A TMs and branches is low but they do remember about the offers whose banners are kept for a long duration of time The salary account holders form the majority of our customer base People prefer to go to specific shops to make purchases People from lower age group tend to spend more on making purchases. These people do prefer cards i.e. either debit or credit card for making purchases