Introduction:
This project discusses the "MARKETING: HOUSING LOANS".
It is the process of identifying the specific service needs of the consumers
and designing the products or services to satisfy their needs, thus service
marketing relies more upon the pull strategy rather than on the push strategy
which is focused upon in selling.
According to Mr. Rajeev Arora (Chief Manager of ICICI) key to services marketing
is enhancing the customer satisfaction “He explains that services marketing
as for the people to the people and through the people.”
It is necessary to devise a separate strategy for services marketing as it is
different from the conventional goods marketing strategy in a no. of ways. There
is an urgent need to devise the services marketing strategy with services sector
accounting for almost 50% of the GDP at the macro level.
Service marketing is different from goods marketing in a number of ways:
Intangibility: One of the key features of a service is its intangibility (lack
of physical presence.) In the case of housing loans the intangibility component
is very high as evidenced by the fact that the housing loans are a service provided
by HFC in order to help the consumers go for housing. However there is physical
evidence in the form of documentation of housing loans, mortgages, brochures,
pamphlets, and other advertising material.
Heterogeneity: Since services are performances frequently produced by humans
no two services can be precisely alike. Further the customers may have unique
demands resulting in the HFC trying to devise their products to meet the needs
of the customers.
Simultaneous production and consumption: This would mean that there can not
be any inventory in the case of services as the services can not be stored the
reason being that the services are provided as and when the customer demands
the service and according to his needs (customization or product flexibility).
In case of housing finance the HFC provides services to the consumers according
to his needs as and when he approaches the HFC and customizes the product according
to the needs of the consumer so that the consumer would immediately accept it.
Perishability: It refers to the fact that services cannot be stored saved, resold
and returned, which is very much a characteristic of the housing loan industry.
Number of Pages of Project Report: 46
Package Includes: Project Report
Project Format: Document (.doc)
Table of Contents of Project Report:
1. Introduction
What is Services Marketing and how dose marketing of Housing Loans come under
services marketing? Marketing Mix in Housing Loans
2. Marketing Housing Loans: Indian Perspective
3. What is the customer looking for in your service?
4. What are being offered to consumers in Home Loans?
5. Major Players – (procedure of getting loans)
6. What is customer’s expectation?
7. What is the customer’s perception about service of a housing finance company?
8. What are the Companies doing for Customer Retention?
9. Pricing Strategy in case of Home Loans.
10. Conclusion (Emerging Scenario)
11. Annexure
