1.

0 Historical Background of IBBL

Marketing is an inevitable reality in the present context. Now a days, any company either product oriented or
service oriented, cannot ignore the necessity of marketing in real sense, if the company wants to do business
through goods or services to its customers. As Islami Bank Bangladesh Ltd is a service oriented business
organization it put more emphasize on its marketing.

Islami Bank Bangladesh Ltd. (IBBL) is the pioneer of Islamic banking in Bangladesh. It became incorporated
on March 13, 1983 as a public limited company under the Companies Act 1913. It has 36.91% local and
63.09% foreign shareholders. With 294(including new 8) branches and 12,980 staffs, IBBL is the largest
private banking network in Bangladesh. When IBBL was established, it was the first bank in south-east
Asia to provide banking service based on Shariah.

 The bank is listed with both Dhaka Stock Exchange Ltd. and Chittagong Stock Exchange Ltd Establishment
of Islamic Development Bank (IDB) by the OIC member states in 1975 has been proved to be a breakthrough
in the expansion of Islamic Shariah based finance and specially banking throughout the world. As a founder
member of IDB, the Government of Bangladesh also had the commitment to establish Islamic banks which
was reflected in different steps taken by the governments of the country. The OIC members consented to the
proposals to introduce Islamic economy and banking in their respective countries held in the foreign
ministers’ conferences in 1978 and 1980 in Dakar and Islamabad respectively. In the year 1981, OIC in its 3rd
summit held in Makkah approved the proposition submitted by Bangladesh to introduce separate banking
system following Islamic ideology. As per decision, the GOB sent representatives to the Middle Eastern
countries to learn the existing banking systems in those countries.

In the private sector, the Islamic Economics Research Bureau (IERB) was the first organization that took
active initiative in this regard. The IERB arranged an international seminar in 1980. After the
seminar, Dhaka based ‘Muslim Businessman Society’ (later renamed as ‘Industrialist and Businessmen
Association’) under the leadership of renowned industrialist Abdur Razzaque Lasker, took initiative to
establish an Islamic bank and applied to the government for permission. At this stage, the GOB provided
necessary permission in the year 1983 and at last ‘Islami Bank Bangladesh’ was registered under Company
Act in which 19 Bangladeshi national, 4 Bangladeshi institutions and 11 banks, financial institutions and
government bodies of the Middle East and Europe including IDB and two eminent personalities of
the Kingdom of Saudi Arabia joined hands to make the dream a reality.

It was established on the 13th March 1983 as the first Islamic Bank in the South East Asia. It is listed with
Dhaka Stock Exchange Ltd. and Chittagong Stock Exchange Ltd. Authorized Capital of the Bank is Tk.
20,000.00 Million ($244.87 Million) and Paid-up Capital is Tk.10,007.71 Million ($122.53 Million) having
63,001 (30.06.2011) shareholders as on 31stDecember 2011

1|Page
 Islami Bank Bangladesh Ltd.

Review
Sharih
Committee
Supervisory
Board of
Committee
Director
(Chairman)

Risk Executive Audit

management Committee Committee
Committee

Islami Bank Islami Bank Islami Bank

Securities Ltd. Capital Foundation
Management
Ltd.
Board
Shaariah`s Securities
Securities Division
Managing DIrector

Management ALCO
Committee

IB research & Human Research &

Training Resource Development
Academy Division Division

Operation Corporate Retail ICT Development Internal Risk

Wing Investment Investment Wing Control Management
Wing Wing Wing

Vigilence MD`s
Squad Secretariat

Zones &
Corporate
Branch

2|Page
2.0 Introduction:

The marketing approach of IBBL consist of a very clear definition for existing as well as prospective
customers and their needs and the creation of marketing mix to satisfy them. As the largest Banking
Company of the country in the private sector, IBBL is continuously persuading to formulate and
execute the effective and modern Marketing approaches using all the modern techniques and
technological innovations.

Their business strategy always concerns to maintain an effective and profitable customer relationship
to learn more about customer behavior with a view to create long term and sustainable relationship
with the customers. It is comprehensive process of acquiring and retaining customers to generate
value for the bank and its customers, considering the corporate objective, environmental and other
constraints.

Comprehensive Marketing Plan for IBBL goes through three structured sequences. These are

Sequence 01: to formulate how well designed Marketing Approach for IBBL

Sequence 02: to formulate how well designed Marketing Strategy for IBBL

Sequence 03: to formulate a comprehensive Marketing Plan for IBBL

The Marketing Plan will coincide the following exclusively relevant three broader Aspects:

A. Budget preparation & Explanation there of

B. Frame work of Time Schedule
C. Conduction of Objective Oriented Research Work

The Marketing Plan mainly can be three types in terms of Span of period

i. Short Term Perspective Marketing Plan (Within 01 year)

ii. Mid Term Perspective Marketing Plan ( 1-5 years)
iii. Long Term Perspective Marketing Plan (More than 5 years)

3|Page
3.0 Marketing Analysis of IBBL

3.1 Marketing Environment of IBBL

Islami Bank Bangladesh Limited has very good marketing process. But as a business corporation it is
affected by the Micro Environment and Macro Environment of Marketing. The market
environment is a marketing term and refers to factors and forces that affect a firm’s ability to build
and maintain successful relationships with customers. Two levels of the environment are : Micro
(internal) environment - small forces within the company that affect its ability to serve its customers
and Macro (national) environment - larger societal forces that affect the microenvironment.

Overview of Marketing Environment of Islami Bank Bangladesh Limited

Micro-Environment

The micro environment refers to the business itself and to all the challenges that come from inside
the business. Businesses can therefore take control over all the challenges and influences in the micro
environment. Sometimes, the micro environment is also known as the internal environment. The
micro environment refers to the forces that are close to the company and affect its ability to serve its
customers. It includes the company itself, its suppliers, marketing intermediaries, customer markets
and public.

4|Page
The elements of Micro Environment that are affecting IBBL are-

The company aspect of micro-environment refers to the internal environment of the company.
This includes all departments, such as management, finance, research and development, purchasing,
operations and accounting. Each of these departments has an impact on marketing decisions. For
example, research and development have input as to the features a product can perform and
accounting approves the financial side of marketing plans and budget in customer dissatisfaction.
Marketing managers must watch supply availability and other trends dealing with suppliers to ensure
that product will be delivered to customers in the time frame required in order to maintain a strong
customer relationship.

Retail Banking is an important factor of mature markets. Technological development and

deregulation in many countries have led to increased competition.
Corporate Banking is another factor of marketing of IBBL which is a competitive market and
provide ensured to customer service.

Marketing intermediaries refers to resellers, physical distribution firms, marketing services

agencies, and financial intermediaries. These are the people that help the company promote, sell, and
distribute its products to final buyers. Resellers are those that hold and sell the company’s product.
They match the distribution to the customers and include places such as Wal-Mart, Target, and Best
Buy. Physical distribution firms are places such as warehouses that store and transport the
company’s product from its origin to its destination. Marketing services agencies are companies that
offer services such as conducting marketing research, advertising, and consulting. Financial
intermediaries are institutions such as banks, credit companies and insurance companies.

Customers are another vital aspect of micro-environment. There are different types of customer
markets including consumer markets, business markets, government markets, international markets,
and reseller markets. The consumer market is made up of individuals who buy goods and services for
their own personal use or use in their household. Business markets include those that buy goods and
services for use in producing their own products to sell. This is different from the reseller market
which includes businesses that purchase goods to resell as is for a profit. These are the same
companies mentioned as market intermediaries. The government market consists of government
agencies that buy goods to produce public services or transfer goods to others who need them.
International markets include buyers in other countries and includes customers from the previous
5|Page
categories. Competitors are also a factor in the micro-environment and include companies with
similar offerings for goods and services. To remain competitive a company must consider who their
biggest competitors are while considering its own size and position in the industry. The company
should develop a strategic advantage over their competitors.

The final aspect of the microenvironment is publics, which is any group that has an interest in or
impact on the organization’s ability to meet its goals. For example, financial publics can hinder a
company’s ability to obtain funds affecting the level of credit a company has. Media publics include
newspapers and magazines that can publish articles of interest regarding the company and editorials
that may influence customers’ opinions. Government publics can affect the company by passing
legislation and laws that put restrictions on the company’s actions. Citizen-action publics include
environmental groups and minority groups and can question the actions of a company and put them
in the public spotlight. Local publics are neighborhood and community organizations and will also
question a company’s impact on the local area and the level of responsibility of their actions. The
general public can greatly affect the company as any change in their attitude, whether positive or
negative, can cause sales to go up or down because the general public is often the company’s
customer base. And finally those who are employed within the company and deal with the
organization and construction of the company’s product.

Macro-Environment (external environment)

The macro-environment refers to all forces that are part of the larger society and affect the micro-
environment. It includes concepts such as demography, economy, natural forces, technology,
politics, and culture.

Demography refers to studying human populations in terms of size, density, location, age, gender,
race, and occupation. This is a very important factor to study for marketers and helps to divide the
population into market segments and target markets. An example of demography is classifying
groups of people according to the year they were born. These classifications can be referred to as
baby boomers, who are born between 1946 and 1964, generation X, who are born between 1965 and
1976, and generation Y, who are born between 1977 and 1994. Each classification has different
characteristics and causes they find important. This can be beneficial to a marketer as they can
decide who their product would benefit most and tailor their marketing plan to attract that segment.
Demography covers many aspects that are important to marketers including family dynamics,
geographic shifts, work force changes, and levels of diversity in any given area.

6|Page
Economic environment another aspect of the macro-environment is the. This refers to the
purchasing power of potential customers and the ways in which people spend their money. Within
this area are two different economies, subsistence and industrialized. Subsistence economies are
based more in agriculture and consume their own industrial output. Industrial economies have
markets that are diverse and carry many different types of goods. Each is important to the marketer
because each has a highly different spending pattern as well as different distribution of wealth.

The natural environment is another important factor of the macro-environment. This includes the
natural resources that a company uses as inputs that affects their marketing activities. The concern in
this area is the increased pollution, shortages of raw materials and increased governmental
intervention. Also, pollution can go as far as negatively affecting a company’s reputation if they are
known for damaging the environment. The last concern, government intervention can make it
increasingly harder for a company to fulfill their goals as requirements get more stringent.

The technological environment is perhaps one of the fastest changing factors in the macro-environment.
This includes all developments from antibiotics and surgery to nuclear missiles and chemical weapons to
automobiles and credit cards.. It also requires a company to stay ahead of others and update their own
technology as it becomes outdated. They must stay informed of trends so they can be part of the next big
thing, rather than becoming outdated and suffering the consequences financially.

The political environment includes all laws, government agencies, and groups that influence or limit
other organizations and individuals within a society. It is important for marketers to be aware of these
restrictions as they can be complex. Some products are regulated by both state and federal laws. There
are even restrictions for some products as to who the target market may be, for example, cigarettes should
not be marketed to younger children. There are also many restrictions on subliminal messages and
monopolies. As laws and regulations change often, this is a very important aspect for a marketer to
monitor.

The cultural environment is the final aspect of IBBL`s marketing area, which consists of institutions
and basic values and beliefs of a group of people. The values can also be further categorized into core
beliefs, which passed on from generation to generation and very difficult to change, and secondary
beliefs, which tend to be easier to influence. As a marketer, it is important to know the difference
between the two and to focus your marketing campaign to reflect the values of a target audience.

These are the most important factors of the Marketing Environment of Islami Bank Bangladesh Limited.
Besides these there are some minor aspects also which directly or indirectly affect the Bank.

7|Page
3.2 Market Segmentation and Targeting

Market segmentation should consist of a group of customers who have a similar set of needs and
wants which mainly focuses on the consumption behavior of the potential customer.

The basis used by the IBBL to segment the market meets these three criteria. The segments should be
Accessible, Measurable and Profitable that is the segmentation should be easily identifiable,
accessible, and measurable without great effort and cost. Which should be worth profitable for the
target market.

The segmented target market focuses on the Mass Market rather the Corporate Market. Different
large numbers of variables can be used to segment the mass market. IBBL follows the traditional
way to segment the consumer market that is the geographical and demographic segmentation.

Mass Market

Geographical Demographical

Age Income Young High net

Division Current worth
Account Customer

8|Page
Demographic Segmentation: Demographic Segmentation is the study of the quantifiable
characteristics of the consumer population and segment population by age occupation, Education and
gender. IBBL concentrates on the age and income. Special attention should be focused on young
individuals who are opening their first current accounts as well as people who are high net worth
customers.

Geographical Segmentation: People who are living in one region of the country have consuming
and purchasing habits that are different from others who live in other regions. IBBL also put
emphasize on their customer by Rural and Urban area`s customer. At present they are attracting so
much rural people based on their different types of products.

Graph: showing area and division wise expenditure of IBBL

9|Page
Market Positioning:

Positioning is act of designing the company`s offering and image to occupy a distinctive place in the
minds of the target market. It enables marketer to define the points of difference and points of parity
associations. Points of difference are attributes or benefits customer strongly associate with a brand,
positively evaluate and belief they could not find to the same extent with a competitive brand. In the
case of IBBL the bank is known to be a truly “The Bank of Welfare” with an international network.

Points of Parity are associations that are not necessarily unique to the brand but may in fact be shared
with other brands. There are two types of points of parity namely:

# Category points of Parity

# Competitive points of Parity

Category points of Parity includes IBBL being a reputable financial institution and also bank
entrusted with fiduciary responsibility.

Competitive points of Parity in terms of this point of parity IBBL must be seen to break even with
other financial institution in terms of Service Quality.

Other activities for holding market position:

Green Banking:

Green Banking Budget and utilization for 2013:

10 | P a g e
source: Annual Report 2013

3.3 Marketing Mix:

We know that, Marketing Mix is the combination of four P`s. But as IBBL is a service oriented
pioneer bank of Private Commercial bank it emphasize on 7P`s .These are:

 Price  People
 Product  Physical Evidence
 Place  Process
 Promotion

Product: According to the statement of Principal of Marketing Department, they have categorized
their product into 3 broad categories. These are:

General Banking Product (14 Deposit Product)

Investment Product (21Produts under 5 categories)

Foreign Exchange Service (3categories)

In general Banking IBBL offers 14 products to generate deposit Out of Which the most profitable
Product is “Current Account” [1] .

In Investment products IBBL offers 21 products under 5 categories to use the deposited amount .
Among These products the most profitable product is HPSM (Hire Purchase Shirkatul Milk).

In Foreign Exchange Services, IBBL offers 3 categories of services in Import, Export and
Remittance. Among these in Export and Import LC is most profitable. 10% to 12% LC are opened
by IBBL among all LC opened by other private commercial banks. And out of all remittance IBBL
alone holds 28% of remittance. In terms of Deposits it is 8% and in Investment it is 8.5%.

The number of LCs in 2010 to 2013

11 | P a g e
Pricing: IBBL’s product pricing is categorized in 2 parts: these are

 Deposits product pricing

 Investment product pricing

In the pricing of Deposits products IBBL considers the Weights of each product. Weight means how
much important a product is against another product. Products having more weight is bearing greater
price.

The highest weight of IBBL is 1.30 and the lowest is .60.

IBBL is now accepting conservative policy towards the deposits products as there is an idle deposit
amount of “near about 10,000 Koror” taka.

In the pricing of Investment products IBBL considers

 The length of time needed

 Payment system weather lump sum or installment basis
 Purpose of project

The Investment products price will be higher with the length of time. If it is for long time the price
will rise and if the length of time is low the price will do so.

If the payment is lump sum the price will be raised and if the payment is on installment basis the
price will get lower.

If the project is more profitable the price will greater and if it is less profitable the price will be less.

12 | P a g e
NOTED that if the Purpose of project not allowed by Sariah the bank will not invest it. If the purpose
of the project or the project is Haram (not allowed by Sariah) the IBBL will not invest even its
backward or forward project.

Place: Place is related about location of the prospective customers and therefore allocation to offer
such products at the best possible way.

IBBL has 294(including new 8) branches, 415 ATM booth, 2000ATM booth (shared), 30 mini
branch (service center) all over the Bangladesh for serving the people not only in Bangladesh but
also outside of Bangladesh.

IBBL is connecting their branches through 14 Zone. 4 corporate branch are also here for serving the
corporate people. Alternative Delivery Channel (ADC) is also offering by IBBL. like M cash, Agent
Banking(new) etc

Promotion: The campaigns are observed using effective promotional tools such as advertising,
public relations, publicity, Direct Marketing etc. Some Promotional activities by IBBL are

 Customers Service Month

 SME fair
 Radio/ press advertising (like IBBL sports news)
 BATEXPO fair and
 Different types of CSR activities etc.

People: Here People means human resource IBBL has.

They have dedicated and skilled manpower as a result the turnover rate is lowest. The facilities
provided by IBBL towards its staffs are

 IBBL provides training to its staff or employee for achieving professionalism.

 IBBL provides more security towards its employee than its competitor.
 Investment behind the employee according their rank.
 By IBBL’s investment projects their employee can be mentally satisfied as IBBL is investing
in Halal Projects.

13 | P a g e
 IBBL adopts transparent disclosure practice about HR. Here is the data of Human Resource
strength for last 5 years of IBBL and Employee Productivity (caused for IBBL`s inspiration):

14 | P a g e
 source: Annual Report 2013

Process: Here Process means the way of offering Banking services by IBBL.

There are 294 branches is now offering online banking service. They offer M cash, Agent banking
(new), mini branch (service center), Alternative Delivery Channel (ADC), ATM Booth etc

Physical Evidence: How we reassure our customers, e.g. impressive buildings, well-trained staff,
great website?

IBBL ensures these through Promotional activities. They maintain their brand in the superior
position. For making the people trust they are arranging many programs such as customers service
month, financial performance etc.

IBBL is the third largest tax payer organization in Bangladesh. Which again create a positive view of
the customers mind.

15 | P a g e
3.4 Pricing Strategy of IBBL

The service charge and cost of products at a reasonable limit acknowledge our economic situation to
build up a “win-win” concept for both the parties. The investment products of IBBL are being
diversified according to geographical location.

Pricing System of IBBL

Cost Related Market Related Competition Related

Deposit Investment
Product Product
Pricing Pricing

The length of time needed ;

Payment system ;
Purpose of project ;

Cost Related Pricing: IBBL’s product pricing is categorized in 2 parts: these are

 Deposits product pricing

 Investment product pricing

In the pricing of Deposits products IBBL considers the Weights of each product. Weight means how
much important a product is against another product. Products having more weight is bearing greater
price. The highest weight of IBBL is 1.30 and the lowest is .60.

IBBL is now accepting conservative policy towards the deposits products as there is an idle deposit
amount of “near about 10,000 Koror”[1] taka. In the pricing of Investment products IBBL considers

 The length of time needed

 Payment system weather lump sum or installment basis

16 | P a g e
  Purpose of project

The Investment products price will be higher with the length of time. If it is for long time the price
will rise and if the length of time is low the price will do so. If the payment is lump sum the price
will be raised and if the payment is on installment basis the price will get lower. If the project is
more profitable the price will greater and if it is less profitable the price will be less.
NOTED that if the Purpose of project not allowed by Sariah the bank will not invest it. If the
purpose of the project or the project is Haram(not allowed by Sariah) the IBBL will not invest even
its backward or forward project.

Market Related Pricing : The central bank set their market price. They cannot fluctuate if they
want. Another thing is that as sector is a competitive Market. IBBL must set the price according to
the market.

Competition Related Pricing: As IBBL is the leading bank, it has to forecast what the competitive
price should be in future. IBBL also follows the competitors rates If they make a lower price of
product. Otherwise they will not follow.

17 | P a g e
3.5 Distribution of Services of IBBL:

Distribution of services of IBBL is related about location of the prospective customers and therefore
allocation to offer such products at the best possible way than the other competitors.

Distribution Channel of IBBL

Branches Indirect
( Direct Channel) Channel

Zone wise Branch SME Branch AD Branch Corporate

(14) (30) (49) Branch (4)
(49)

ATM(415) EFTS (294) Mcash Service Center

(mini Branch) 30

Figure: Distribution Channels of IBBL

IBBL has 294(including new 8) branches, 415 ATM booth, 2000ATM booth (shared), 30 mini
branch (service center) all over the Bangladesh for serving the people not only in Bangladesh but
also outside of Bangladesh.

IBBL is connecting their branches through 14 Zone. 4 corporate branches are also here for serving
the corporate people.

Alternative Delivery Channel (ADC) is also offering by IBBL. Like M cash, Agent Banking (new)
etc

18 | P a g e
3.6 Relationship Marketing

Relationship marketing is defined as a form of marketing developed from direct response marketing
campaigns which emphasizes customer retention and satisfaction, rather than a dominant focus on
sales transactions. Now-a-days companies have changed their perspective as regards their
relationship with customers. Emphasis has changed from a transaction relationship focus to a
relationship focus aimed at a long term customer retention.

Relationship-building strategies

There are seven relationship-building strategies that will help you transform your company into a
valuable resource

1. Communicate frequently. How often do you reach out to customers? Do the bulk of your
communications focus on product offers and sales? For best results, it's important to communicate
frequently and vary the types of messages you send. Instead of a constant barrage of promotions,
sprinkle in helpful newsletters or softer-sell messages. The exact frequency you choose will depend
on your industry and even seasonality, but for many types of businesses, it's possible to combine e-
mail, direct mail, phone contact and face-to-face communication to keep prospects moving through
your sales cycle without burning out on your message.
2. Offer customer rewards. Customer loyalty or reward programs work well for many types of
businesses, from retail to cruise and travel. The most effective programs offer graduated rewards, so
the more customers spend, the more they earn. This rewards your best, most profitable clients or
customers and cuts down on low-value price switchers-customers who switch from program to
program to get entry-level rewards. Whenever possible, offer in-kind rewards that remind your
customers of your company and its products or services.
3. Hold special events. The company-sponsored golf outing is back. With the renewed interest in
retaining and up-selling current customers, company-sponsored special events are returning to the
forefront. Any event that allows you and your staff to interact with your best customers is a good bet,
whether its spring time golf outing, summertime pool party or an early fall barbecue. Just choose the
venue most appropriate for your unique customers and business.
4. Build two-way communication. When it comes to customer relations, "listening" can be every bit
as important as "telling." Use every tool and opportunity to create interaction, including asking for
feedback through your Web site and e-newsletters, sending customer surveys (online or offline) and
providing online message boards or blogs. Customers who know they're "heard" instantly feel a
rapport and a relationship with your company.
19 | P a g e
5. Enhance your customer service. Do you have a dedicated staff or channel for resolving customer
problems quickly and effectively? How about online customer assistance? One of the best ways to
add value and stand out from the competition is to have superior customer service. Customers often
make choices between parity products and services based on the perceived "customer experience."
This is what they can expect to receive in the way of support from your company after a sale is
closed. Top-flight customer service on all sales will help you build repeat business, create positive
word-of-mouth and increase sales from new customers as a result.
6. Launch multicultural programs. It may be time to add a multilingual component to your
marketing program. For example, you might offer a Spanish-language translation of your Web site or
use ethnic print and broadcast media to reach niche markets. Ethnic audiences will appreciate
marketing communications in their own languages. Bilingual customer service will also go a long
way toward helping your company build relationships with minority groups.

7. Visit the trenches. For many entrepreneurs, particularly those selling products and services to
other businesses, it's important to go beyond standard sales calls and off-the-shelf marketing tools in
order to build relationships with top customers or clients. When was the last time you spent hours, or
even a full day, with a customer-not your sales staff, but you, the head of your company? There's no
better way to really understand the challenges your customers face and the ways you can help meet
them than to occasionally get out in the trenches. Try it. You'll find it can be a real eye-opener an

Customer Market

Customer market is the term for the portion of available customers who currently patronize a
business , usually for a product or a service. Customer marketing is designed to help a business
understand customer complaints by tuning in to the voice of the customer .Customers remain the
prime focus area for marketing activity. Focus must be less on transactional marketing. An emphasis
should give on the one-off sake or hooking new customer and building long term client relationships.
Islami Bank Bangladesh ltd. Focus on customer market rather than transactional market. They give
attention on their prime customers and also hooking new customers. To build a productive and
profitable relationships with target customers, IBBL pays more attention with their new customers,
rewarded new customers and cement their loyalty. On the other side the retention of existing
customers costs five times more than hook a new customer. So IBBL prefer hooking new customers.
They follow customer market. But a delicate balance needs to be maintained between the efforts
directed at existing and new customers.
20 | P a g e
Referral Market

Referral market is a method of promoting products or services to new customers through referrals,
usually word of mouth. Referral marketing is a process to increase word of mouth marketing by
encouraging customers and contacts to talk as much as possible about a brand or product.
Online referral marketing, using digital marketing as a platform, is the internet based approach to
traditional referral marketing. By tracking customer behavior online through the use of web browser
cookies and similar technology, online referral marketing can potentially provide a higher degree of
accountability than offline models.
Offline referral marketers sometimes use track able business cards. Track able business cards
typically contain QR codes linking them to online content for sale while providing a way to track
that sale back to the person whose card was scanned

Referral marketing is employed by a wide variety of businesses. These strategies can be effective for
companies ranging from small single-owner and entrepreneur companies, to large corporations in
nearly any industry. Many businesses that offer products or services can implement referral
marketing campaigns.
Some types of businesses that typically employ referral marketing include:
 Retail stores
 Specialty stores
 Restaurants
 Automotive service companies
 Airports, hotels, and travel agencies
 Banks
 Health clubs and gyms
 Doctors, dentists, and health profession

IBBL follows referral market for marketing their product and services.

Customer Relationship Management

21 | P a g e
Customer relationship management (CRM) is a system for managing a company’s interactions
with current and future customers. It often involves using technology to organize, automate and
synchronize sales, marketing, customer service, and technical support. IBBL takes several activities
that constitute customer relationship marketing. “after marketing “ are the followings:

 Establishing and maintaining a customer information file

 Customer profile
 Planning customer contact points
 Customer feedback analysis
 Holding communication programs
 Hosting special events

Establishing and maintaining a customer information file:

The customer information file should include data on the current customers, prospective customers,
lost customer. By maintaining customer information files IBBL able to identify their most worthy
customers and then present to then the right offer, price, service etc. at the right time. They also find
changes in customers needs and decision making processes and ready for future changes. IBBL
segmenting the customers base according to purchase frequency, volume and occasions of product or
service use.

Customer profile

Customer profiling may sound like a mug shot lineup of your customers, but the goal of this post is
not to imprison your customers. On the other hand, I hope to offer three steps to creating and
evaluating the types of people you are looking to sell your products or services to so that you can
effectively market to them.
A useful customer profile (aka a persona) is akin to a comprehensive how-to guide on reaching
your ideal customers. It gives you a structured look at their goals in trying your product, the
features and content that matters most to them and the messaging that will help them find you in the
first place. If your business is currently winging it to create an understanding of your ideal customer
or if your current profiling attempts are vague and ineffective, then be sure to read the following post
very carefully.

IBBL understand their ideal customer with the following criteria:

22 | P a g e
  Demographics – their age, gender, income, etc
 Psychographics – their personality type, preferences, etc
 Behavior – their similar likes and dislikes, sports, hobbies, etc

Customer contact points:

IBBL have a relationship officer in every branches. Relationship officer communicates with their
customers and maintain a relation with customers. He identifies customer’s choice, expected product
or services.

Customer feedback analysis:

To analyzing customer feedback IBBL hold complaint cell program in every 3 months. Their MD
operates the program. They also provide their phone number, fax and e-mail address by which
customer can contact with them and tell them the problem they face or asking any kind of
information. There is a complain box in every branch where customers put their complains and per
month complains are solved.

Holding communication programs :

To communicate with customers IBBL holds various communication program like customer service
month , 24 hours banking services , call center, MCash promotional program , promotional program
with swapno. They provide industry workers savings account to build relationship with the prime
customers. Through I-banking customer can recharge their telephone.

Hosting special events:

IBBL holds several special events and programs. They provide corporate videos on their website and
published business magazines. They invite their prime customer on their special events and programs
.They sponsor various programs such as cultural program, educational program, cloth distribution
program etc.

23 | P a g e
Methodology
Result:

The analysis of marketing of Islami Bank Bangladesh Limited shows some great strategies that are
followed by IBBL. by following these structures IBL has gained the top most position of the
Banking Industry of Bangladesh.

Scope of the Report

This Report deals with the marketing of IBBL which includes all the Branches of IBBL spreaded all
over Bangladesh through the Head office.

Limitations of the Report

Information services is not so enriched and there also exist some restrictions on sharing information
about marketing strategy. And there`s also some legislator hinders that compresses the scope of the
Report.

Conclusion:
IBBL is the largest Islamic bank of Bank of Bangladsh holding the biggest amount of customer.
There marketing strategy is so much successful as a result of which they are holding 8% of total
Deposit in Banking sector and 8.5% of total investment of the same industry of Bangladesh.

As the religious view of the people of Bangladesh is Islam, IBBL has the great advantage of it.
Moreover, it is the oldest Islamic Bank in Bangladesh which help its it to enrich its success and hold
itself in the positions of the best 1000 banks in the world.

Its Long term moto is to hold itself into the position of the best 100 Banks in the world.

24 | P a g e
References:

1. Annual Report of IBBL 2012

Annual Report of IBBL 2013

2. http://www.islamibankbd.com

3. http://en.wikipedia.org/wiki/Islami_Bank_Bangladesh_Ltd

25 | P a g e