Amity Business School

Amity Business School

CASE STUDY PRESENTATION

Student Name: Prashant Shukla

Enrollment No: A001110721053
Programme Name: MBA (Finance)
Class of 2023
1
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Topic:
Marketing of digital
products: A study on
State Bank of India
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Introduction
SBI, an acronym for State Bank of India is one of the most prestigious banks in the country. It is a name that is on the
tips of every Indian. The bank has a glorious history of over 200 years. It is a multinational public sector bank in the
country, offering financial services to millions for centuries. It is the oldest bank of the Indian subcontinent, found in
1806, earlier which was the bank of Calcutta, through Imperial Bank. In 1955, the government of India took control over
the imperial bank, occupied 60% of its shares, and renamed it as State Bank Of India.

DIGITAL BANKING- as the name suggests, digital banking refers to the banking operations performed through digital
platforms, with the use of laptops, tablets, or mobile phones. Everything can be done on any of these devices, without
any paperwork like cheques, demand drafts, pay-in-slips, etc. In short, the whole bank is available at our fingertips,
without needing to move to any branch of the bank or consulting any employee face-to-face. This is all digital banking
is all about.

DIGITAL BANKING PRODUCTS OF SBI- Other banks’ digital products-

YONO Kotak 811
SBI DIGITAL VILLAGE Axis ASAP digital account
SBI MINGLE Airtel payments bank
SBI BANK SCRIBE Paytm payments bank
SBI DIGI VOUCHER HDFC digital banking product- PAY-ZAPP
SBI VIDEO STATEMENT
SBI SMARTWATCHES
SBI e-pay
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Introduction contd….
YONO FEATURES-
Open Digital Account: Accounts may be opened by submitting the customer's Aadhar
and PAN information to YONO. Creating your account won't take long once the
information you provided has been validated. You may also go to an SBI branch to
finish the KYC process.

• Cash Withdrawals
• Manage Credit card transactions
• Tax Payment
• Apply for Loans
• Check Pre-approved Offers
• Shopping & Booking
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Purpose of the Study

The purpose of the study was to understand digital banking in India, primarily
focusing on the digital banking products of the State Bank of India. Also to
understand the behavior and satisfaction of the government departments using
digital banking products of SBI or other banks. To get an understanding of what
these departments need in these products and what is the key feature that has
made their work easier and more efficient.
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Objectives of the study

To gain an understanding of the digital
products of the bank.
To compare the digital products of SBI with
other banks’ digital products.
To understand the marketing strategies of
digital banking products of SBI
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Review of Literature [ Tabular] Form

Author Name with Topic [Context] Methodology Key Findings
Year
Khara, Dinesh, Kumar Economic Overview Primary data SBI persisted in concentrating on securing
24/7 services without compromising health
and security despite the unprecedented
difficult circumstances brought on by
COVID-19 and the lockdowns that are
required to contain the virus' spread.
Setty, Challa, Sreenivasulu Digital Step Collaborations Primary data The digitalization of products and services,
Agri Gold loans are now authorized and
handled through YONO. Digital platform
Krishi Likewise, the KCC
Tewari, Ashwini, Kumar Internet Banking and E- Primary data Up until the end of March 2021, YONO has
Commerce achieved numerous milestones, including
79.6+ million downloads and roughly
37.10+ million registrations. The number of
YONO registered users increased by over
75% from 21.2 million in March 2020 to
37.10 million in March 21. The app has a
3.9641 Android rating and a 2.6 iOS rating.
Natrajan, Ganesh YONO business Primary data Under the banner of "You Only Need
One," YONO BUSINESS, your Bank's
corporate digital reforms take shape. It
differs not just in terms of what it claims to
give—in scale, scope, and the use of
technology like API banking—but also in
terms of how it intends to do it—by
implementing an agile strategy in cross-
functional development teams to
encourage innovation that is quick.
Research Amity Business School

methodology
 Research Design: A Descriptive research design is conducted in the study. Using
the descriptive research design primary data will be collected using the
appropriate questionnaire to verify and assess the information that is crucial for
the study.
 Primary Data Sources: Questionnaire: a list of questions relevant to the study
was prepared, relevant to the study. As a result of the fact that they are all
monitoring their working environment continuously, the questionnaire
approach was shown to be the most effective instrument. Another tool used is
Microsoft Excel. Sampling Methods Survey Design: Because the data was
gathered at a single moment in time, the investigation is classified as a cross-
sectional one. People from the department were asked the questions from the
questionnaire.
 Size and Design: For convenience, a sample of 15 departments were taken.
Some data was also obtained through online surfing through search engines.
Further, some data was taken from the bank itself, for which authorities of the
respective department shared limited data to be used in this study
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[Objective Wise]
List of Departments visited
S.No. Department Name Location Bank Name

1. D M Office 23, Mirza Towers, Nawal Kishore Road, Hazratganj, SBI, Canara

.
Lucknow, Uttar Pradesh 226001

2. Board of Revenue Chakbast Road, Near Balrampur Hospital, Block Y, SBI

Qaiserbagh, Lucknow, Uttar Pradesh 226001

3. UP Homeguard RW99+QMF, Alambagh Anand Nagar, Railway Colony, Kotak Mahindra bank,
Charbagh, Lucknow, Uttar Pradesh 226005 HDFC

4. HAL VX9Q+WHP, Indira Nagar, Opp Tejas Marg, Road, H.A.L. HDFC
Colony, Lucknow, Uttar Pradesh 226016

5. Shakti Bhawan Ashok Marg, Near Hanuman Mandir, Hazratganj, Lucknow, SBI
Uttar Pradesh 226001

6. NCC Headquarters Victoria colony, hazratganj, lucknow SBI

7. UP Police 19-C, Tulsi Ganga Complex, Vidhan Sabha Marg, SBI

Lucknow, Uttar Pradesh 226001

8. Research design and standards organization Manak Nagar, Alambagh, Lucknow, Uttar Pradesh 226011 SBI

9. Lucknow Golf Club 111, Faizabad Rd, Atif Vihar, Lucknow, Uttar Pradesh SBI
226028
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Analysis
[Objective Wise] contd….
S.No. Department Name Location Bank Name
10

11
UP State Archives

Prasar Bharati (Doordarshan Kendra)

.
1st Floor LDA Shopping Complex, Sector B,
Aliganj, Lucknow, Uttar Pradesh 226024
SBI

24, Ashok Marg, near Sikanderbag Chauraha, Kotak Mahindra bank

Hazratganj, Lucknow, Uttar Pradesh 226001
12 Forest c29 house No, Ramtirth Marg, Narhi, Hazratganj, Kotak Mahindra bank
Lucknow, Uttar Pradesh 226001
13 EPIC  LDA Shopping Complex, Kapoorthala Road, Kotak Mahindra bank
Kapoorthla, Sector A, Chandralok, Lucknow,
Uttar Pradesh 226024
14 Directorate secondary education 18 Camp Office, Park Road, Lucknow, Uttar Indian Bank
Pradesh 226001
15 PWD Raj Bhawan, PWD, Raebareli - Lucknow Rd, HDFC
Hazratganj, Lucknow, Uttar Pradesh 226001
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Analysis
[Objective Wise] contd….
Q.1. Which bank is your banking partner?
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[Objective Wise] contd….

Q.2. Which bank do you use for your salary account?
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[Objective Wise] contd….

Q.3. Do you use digital products of the bank you are using?
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[Objective Wise] contd….

Q.4. Is the present bank helpful in providing necessary information on the
products required?
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[Objective Wise] contd….

Q.5. Is awareness created by the bank to the department about the new
products, from time to time?
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[Objective Wise] contd….

Q.6. Do you want to know more information about the products of your
bank?
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[Objective Wise] contd….

MARKETING STRATEGY- As a new brand from SBI, YONO SBI disrupts the integrated
digital banking ecosystem with a novel strategy. The move away from the high-cost branch
model of client acquisition and service will also benefit YONO. Banks would save a lot of
money if they had applications like YONO. Existing branches would see a reduction in
operating costs as a result of these changes. Chief Digital Officer of SBI, Ravindra Pandey,
estimates that it costs Rs 1,000-1,200 to acquire a new client at a branch. Over the last year,
YONO SBI has become one of the most popular apps for accessing your financial services
(account opening, loans, cash transfers), as well as other services like online shopping, taxi
booking, bill payments, and so on. YONO SBI The bank has cooperated with 60 e-
commerce businesses including Ola, Flipkart, Amazon, and many more, to establish this
ubiquitous platform. These include Shoppers Stop and Thomas Cook, among others. For
now, YONO SBI may be accessed through iOS and Android devices, or you can log in via
the SBI Online Portal. YONO's marketing strategy was to use the new app to reach out to
millennials and the generation after them. As a means of promoting its brand, the bank
sought to portray itself as a place for young people. Despite SBI's technical activity, few
individuals were aware of its existence. The bank wants to include all of the activities that
young people participate in today. To make things even easier for them, why not put
everything in one place? Traditional and digital media outlets were used in their marketing
strategy, with a heavy emphasis on the latter.
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[Objective Wise] contd….

HOW SBI BANKING APP CAN COMPETE ITS RIVALS-
The bank has invited bids from consultants who will provide technical guidance
for the architecture and design for Only YONO. SBI recently hired Nitin Chugh,
who earlier led HDFC Bank’s digital banking division, in a similar role. Though
YONO has been adopted by customers at a very high pace, in order to consolidate
its leadership position, it has been decided by the bank to give YONO a revamp as
‘Only YONO’, not only in terms of features and functionality but also in terms of
ease of use and customer experience, SBI said in its notice. Only YONO is
envisaged as the next generation of YONO, which will make SBI ready to launch
a completely digital bank with a leaner and modular architecture, more
streamlined journeys, sleek and personalized customer-centric design, and
capturing value from ecosystems. The app should be available in other languages,
(starting with English now). Smartphone prices are coming down and connectivity
is improving, so we expect more consumers should be able to use the app as we
move towards digital transactions.
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Findings of The Study

 13 out of the 15 departments are using SBI as their banking partners, for the
core banking needs of the department.
 8 out of 15 departments are using SBI as their banking partner for salary
accounts.
 When asked about satisfaction level with the present bank’s banking services, 9
out of the 13 departments using SBI responded to be very much satisfied with
the services.
 6 departments using SBI banking were satisfied with the awareness provided by
the bank, 3 were highly satisfied, but 4 departments took a neutral stand on this
question.
 9 departments using SBI digital banking products are highly satisfied with the
question that they want to know more about these products and the new ones.
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Suggestions & Recommendation

 From the data that I got during the research, one fact was observed that most of
the government departments are using SBI for their core banking services but
many of them are using other banks’ products for their salary accounts. Therefore,
SBI should focus on the fact that because of the personal banking experience
these departments are relying on other banks, as told by respondents during the
survey.
 SBI should focus on spreading awareness about their new innovations in digital
banking products in these government departments, for a better understanding of
their products and also give them the idea of improvement in the products.
 Because of the hectic work schedule of some departments, it is not possible for
them to attend the physically conducted awareness programs or sessions,
therefore, SBI should use technologies like Artificial intelligence training and
awareness programs online, which respond to and gives solution to every query of
the department at any point of time.
 Just awareness and usage are not the factors of good marketing strategies, SBI
needs to take feedback from these departments, time-to-time, to better
understand the needs of these departments and improvise their products
accordingly.
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Conclusion
On the basis of the results of the analysis, we can conclude that out of all the government departments studied,
almost all departments are using SBI except for one or two departments, for their core operations. Further from
the analysis and interpretation of responses to other questions and results of calculations, we can clearly
observe that the departments using SBI products and services are partially satisfied with the awareness
provided to them in their office premises, as not all of them are using their digital banking products, and are
curious and willing to know more about the products and services of SBI. While on the other hand, if we talk
about other banks, the departments using their products and services are very less in number and most of them
use their products & services for their salary accounts. Further, we observed from the study that awareness and
services are not that satisfactory, as most of them responded to be neutral on that. They are not very curious in
knowing more about the products & services of these banks. However, the percentage of departments using
their digital products is higher, but the number is very small. To compete with their rivals in the market SBI has
recruited one of the top management employees of HDFC and further are working on an improvised version of
their unified digital banking product i.e., YONO. The improvised version will be called ‘Only YONO’, and SBI is
expecting a huge population to become a user of their new version of YONO, as they believe that the falling
prices of mobile phones and better connectivity services will drive the population to shift to digital banking and
choose YONO as their digital banking support. The marketing strategy of SBI is to reach out to their customers
through different platforms used on daily basis, like, online shopping platforms as well as retail shops to make
YONO omnipresent and bring its usage in the habit of people in India.