Name: End To End Marketing Mix Of Axis Bank - Detailed 7Ps | IIDE
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<div class="raw-html-embed"><div data-bglz="1" class="et_pb_text_inner"><h2><span style="font-weight: 400;">About Axis Bank</span></h2><p><span style="font-weight: 400;">Axis Bank is an Indian banking and financial services company headquartered in Mumbai, Maharashtra. Founded in 1993 as UTI and was renamed Axis Bank in 2007. They sell financial services to large, mid-size, and small companies, retail businesses, and individuals.&nbsp;&nbsp;</span></p><p><span style="font-weight: 400;">When it started it had its registered office in Ahmedabad, Gujarat, and corporate office in Mumbai, Maharashtra. The company has a&nbsp; vast footprint not only in India but has worldwide branches in countries like Singapore, Hong Kong, Dubai, Shanghai, Colombo, and also representative offices at Dhaka, Sharjah, and Abu Dhabi.</span></p><p><span style="font-weight: 400;">The Bank also has a presence in the UK with a wholly-owned subsidiary (Axis Bank UK Limited), The bank has products such as Saving&nbsp; Account,&nbsp; Current&nbsp; Account and&nbsp; Demat Account, and many more.&nbsp;</span></p><p><span style="font-weight: 400;">Let us now start by looking at the marketing mix of Axis bank.</span></p><h2><span style="font-weight: 400;">Marketing Mix of Axis Bank</span></h2><p><span style="font-weight: 400;">Marketing mix refers to a business’s foundation model, which has traditionally focused on product, pricing, place, promotion, people, process, and physical evidence in the service business. </span><span style="font-weight: 400;">Every company has the option of adding, subtracting or modifying to create the perfect and suitable marketing strategy. The marketing mix is described as a collection of marketing techniques that a company uses to achieve its marketing objectives in a target market.&nbsp;</span><span style="font-weight: 400;">Thus it traditionally covers the marketing and business strategies of a business.&nbsp;</span></p><p><span style="font-weight: 400;">Let us start with the price mix of Axis bank.</span></p><h3><span style="font-weight: 400;">Product Strategy</span></h3><p><span style="font-weight: 400;">They offer a variety of products and services to its customer’s in a competitive market. Axis bank provides services in the large, mid, and small sectors and they also cater to customers in retail business and agriculture. They offer many financial services in their Product strategy.</span></p><p><span style="font-weight: 400;">To better understand the products they have divided the products into Axis Bank and Axis Sales&nbsp;&nbsp;</span></p><h4><span style="font-weight: 400;">Products under Axis Bank are</span></h4><p><span style="font-weight: 400;">Saving Account</span></p><p><span style="font-weight: 400;">Forex Department</span></p><p><span style="font-weight: 400;">Current Account</span></p><p><span style="font-weight: 400;">Salary Accounts</span></p><p><span style="font-weight: 400;">Bank lockers</span></p><p><span style="font-weight: 400;">Deposits – Fixed and recurring</span></p><h4><span style="font-weight: 400;">Products under Axis Sales are</span></h4><p><span style="font-weight: 400;">Home loan</span></p><p><span style="font-weight: 400;">Personal loan</span></p><p><span style="font-weight: 400;">Insurance-&nbsp; Life, health, and general insurance</span></p><p><span style="font-weight: 400;">Demat Account</span></p><p><span style="font-weight: 400;">Though these Axis Bank products/ services are just indicative and not exhaustive and all these can be accessed by their Branches and online platforms.</span></p><p><span style="font-weight: 400;">Let us now see the price mix of Axis bank.</span></p><h3><span style="font-weight: 400;">Price Strategy</span></h3><p><span style="font-weight: 400;">All Banks have to follow the rules and regulations set by RBI. The main source of revenue includes interest rates, consulting fees, and commission charges. The interest rate must be by the interest rate set by the central bank.&nbsp;</span></p><p><span style="font-weight: 400;">The commission rates of banks are monitored by Indian Banks Associations. The pricing policy set by the banks directly impacts, attracting the customers and the volume of the transaction also changes with it. Axis Bank also has to follow the regulations by the Government of India to serve the economically backward class and senior citizens with their plans.</span></p><p><span style="font-weight: 400;">Pricing in the case of services is rather more difficult than in the case of products. The price of the product depends upon the services provided by the Bank on the respective product to the customers. Detailed pricing changes from time to time and the same can be found on the website of axis bank.</span></p><p><span style="font-weight: 400;">Let us now see the Place mix of Axis bank.</span></p><h3><span style="font-weight: 400;">Place Strategy</span></h3><p><span style="font-weight: 400;">The place part of the marketing strategy is where the customer receives the product/service. </span><span style="font-weight: 400;">Axis Bank has now a large footprint of 4,594 domestic branches in India and also has 8 international branches.&nbsp;</span></p><p><span style="font-weight: 400;">The important thing about the banks are their ATM Branchs where customer go frequently, it is the place where the customer withdraw their money or deposit it. Axis Bank has 11,333 ATMs &amp; 5,710 cash recyclers across the country.</span></p><p><span style="font-weight: 400;">Now with the emergence of advanced technology Axis Bank has around&nbsp; 6 Virtual Centres and has over 1600 Virtual Relationship Managers for the convenience of the customer. This also helps in reducing the costs of the bank.&nbsp;</span></p><p><span style="font-weight: 400;">Let us now see the Promotion mix of Axis bank.</span></p><h3><span style="font-weight: 400;">Promotion Strategy</span></h3><p><span style="font-weight: 400;">Axis Bank promotes its offers and products/services through different channels. These include print advertisements, digital marketing channels, and television commercials (TVC). Axis Bank also gives discounts and offers to customers on the interest rate, they also conduct lucky draws and gift hampers. </span><span style="font-weight: 400;">They have something called Wheel of Fortune wherein one lucky winner from the loan holder is chosen, winners of these receive gifts and prizes.&nbsp;</span><span style="font-weight: 400;">They also hire celebrities to promote their brand, Deepika Padukone is the brand ambassador of Axis Bank.</span></p><p><span style="font-weight: 400;">One of the recent advertisements (Social Experiment) of Axis Bank promoted gender equality and women empowerment it was called #BillInTheMiddle.&nbsp;</span><span style="font-weight: 400;">Since it is a service marketing brand, here are the other three Ps of the marketing mix of AxisBank.</span></p><p><span style="font-weight: 400;">Let us now see the People mix of Axis bank.</span></p><h3><span style="font-weight: 400;">People&nbsp;</span></h3><p><span style="font-weight: 400;">Axis Bank is a people’s bank, it has its customers and employees. People play an important role in the operating of the service sector. The representative of the Axis Bank is directly in connection with the customers and other stakeholders which enhances the experience.</span></p><p><span style="font-weight: 400;">Axis bank has over 78,000 employees and they value them by providing training and development for enhancing their capabilities which will, in turn, reflect the company’s performance and customer satisfaction.</span></p><p><span style="font-weight: 400;">Let us now see the Process mix of Axis bank.</span></p><h3><span style="font-weight: 400;">Process</span></h3><p><span style="font-weight: 400;">Process refers to the activities taken by Axis Bank, they can be process-related in customer satisfaction and increasing efficiency. The everyday operations of Axis Bank or any bank include dealing with customers, cash, credit, and other types of transactions that are designed to maximize the results and profits of the bank.&nbsp;</span></p><p><span style="font-weight: 400;">Axis Bank has also designed its Branches to have a quick customer turnaround time. The counters are divided into different operations. Some counters are as per the special and customized needs of the bank to provide an enhanced experience to the customers.</span></p><p><span style="font-weight: 400;">Axis bank also uses technology to its advantage wherein simple transactions like deposits and withdrawals are done with the help of machines without any human interaction.&nbsp;</span></p><p><span style="font-weight: 400;">Lastly, we will see the Physical Evidence mix of the Axis bank.</span></p><h3><span style="font-weight: 400;">Physical Evidence</span></h3><p><span style="font-weight: 400;">It refers to the elements of the marketing mix which customers can see and experience when they use a particular service. Like the logo of Axis Bank, it was designed when they changed their name in the year 2007, the logo suggests a good build base and a motive to develop in the future. Axis Bank also releases Financial statements (P&amp;L, Balance Sheet) every year to their customers and investors.</span></p><p><span style="font-weight: 400;">Axis Bank has a website and Apps which enhance the customer experience, this software also helps the employees to perform the daily activities, and also it reduces the carbon footprints of the company. Axis Bank also uses promotions and advertisement billboards. Axis Bank has multiple branches in different cities and states of the country. This all is considered as physical evidence.</span></p></div></div>

<div class="raw-html-embed"><div data-bglz="1" class="et_pb_text_inner"><h2><span style="font-weight: 400;">Conclusion</span></h2><p><span style="font-weight: 400;">With this our 7Ps marketing mix strategy comes to an end.&nbsp;</span><span style="font-weight: 400;">Axis Bank is an exceptionally successful company and it yet has a long way to go, they have aced it with their products and services and offer top-notch customer experience.&nbsp;</span></p><p><span style="font-weight: 400;">The pricing is competitive and it also offers to different audiences and sectors. They have a vast geographical reach with more than 4,000 branches and foreign expansions.&nbsp;</span><span style="font-weight: 400;">With their continuous promotions and advertisement strategy, the company can have a prominent place in the Banking sector of the world.</span></p><p><span style="font-weight: 400;">Wasn’t it interesting to know the marketing mix of Axis bank? Learn how to market your brand online using digital marketing check </span><a href="https://iide.co/"><span style="font-weight: 400;">our website for more information</span></a><span style="font-weight: 400;">. </span><span style="font-weight: 400;">Also, you can check out </span><a href="https://iide.co/meetups/?utm_source=Organic_Marketing&amp;utm_medium=Blogs&amp;utm_campaign=Marketing_Meetup"><span style="font-weight: 400;">Free Digital Marketing Masterclass by IIDE</span></a><span style="font-weight: 400;"> to understand what digital marketing is all about.</span></p><p><span style="font-weight: 400;">Thank you, We hope that you learned something new and exciting about Axis Bank and its marketing mix.&nbsp;</span></p><p><span style="font-weight: 400;">If you like the blog, then please do share it, leave a comment below, and make sure you explore our other amazing blogs.&nbsp;&nbsp;&nbsp;&nbsp;</span></p></div></div>

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Looking for the Marketing Mix of Axis Bank? Learn its 7Ps Marketing Mix which includes price, place, promotion, product, people, process, and physical evidence.

End To End Marketing Mix Of Axis Bank - Detailed 7Ps | IIDE

<div class="raw-html-embed"><div class="et_pb_text_inner"><p><span style="font-weight: 400;">Axis Bank is the 6th largest bank and 3rd largest private sector bank in India with a market cap of $30.89 Billion. </span><span style="font-weight: 400;">It has been implementing some of the best marketing strategies in the market which has kept it up in the banking market. </span><span style="font-weight: 400;">Thus this makes us keen to know the marketing mix of Axis bank.</span></p><p><span style="font-weight: 400;">In this blog, we will be discussing the marketing mix of Axis Bank in detail. Covering all the 7Ps strategies.&nbsp;</span></p><p><span style="font-weight: 400;">Before we start with its marketing mix let us first know about Axis Bank as a company.</span></p></div></div>

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End To End Marketing Mix of Axis Bank with Complete 7Ps

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