Since there are a growing number of banks entering into the business of credit cards, hence it is absolutely important for the competitors entering into the business to follow an efficient as well as effective mode in promoting their financial products.
This is particularly applicable incase of those banks which are not Indian in origin, the reason being that they need to be established in the new geographical area as early as possible or else they can lose their market share in the new market.
Thus in order to overcome this problem, almost all the foreign banks entering the Indian Markey concentrate on large scale promotion while entering the market. This is mainly carried out through extensive advertising in the newspapers television and sponsoring various sports and cultural events.
Apart from these conventional modes of advertising, one of the most aggressive modes of direct marketing is through appointment of various direct Sales Associates.
All the foreign banks in particular have appointed numerous, individual Direct selling agencies in order to promote their products aggressively in the market.
The banks give these agencies appropriate commissions and incentives on achieving the preset targets of selling credit cards.
They also promote their products by offering new schemes and contests for possible credit card aspirants on the other hand, in case of local banks, not much promotion is required as the cards can get easily promoted to those people who are having savings accounts in those banks.
Apart from this, the major advantage which the local bankers enjoy is that they have local popularity and the costs of their cards are also affordable for a large section of the people.
This is particularly applicable incase of those banks which are not Indian in origin, the reason being that they need to be established in the new geographical area as early as possible or else they can lose their market share in the new market.
Thus in order to overcome this problem, almost all the foreign banks entering the Indian Markey concentrate on large scale promotion while entering the market. This is mainly carried out through extensive advertising in the newspapers television and sponsoring various sports and cultural events.
Apart from these conventional modes of advertising, one of the most aggressive modes of direct marketing is through appointment of various direct Sales Associates.
All the foreign banks in particular have appointed numerous, individual Direct selling agencies in order to promote their products aggressively in the market.
The banks give these agencies appropriate commissions and incentives on achieving the preset targets of selling credit cards.
They also promote their products by offering new schemes and contests for possible credit card aspirants on the other hand, in case of local banks, not much promotion is required as the cards can get easily promoted to those people who are having savings accounts in those banks.
Apart from this, the major advantage which the local bankers enjoy is that they have local popularity and the costs of their cards are also affordable for a large section of the people.