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Waqas Report Bank Alfalah MARKETING AND MANAGEMENT PLAN OF BANK AL FALAH LIMITED 1 2 3 Prepared for Mr Attique-ur-Rehman Visiting faculty Faculty of Livestock and Business Management (FLBM) Prepared by Mr Qaiser Hussain Mr Fahad Khan Mr Muhammad Rizwan Mr Ali Tehseen Mr Usman Zia MBA (Life sciences) II Semester session (2008-2010) Department of Business Management Date of Submission MAY 22, 2009 University of Veterinary and Animal Sciences (UVAS) Lahore, Punjab, Pakistan institute of fiscal studies labour manifesto ? ?DEDICATED TO OUR University of kwazulu natal website WHO ALWAYS LOVE US & all those who have a Soft corner for US in their Hearts ? ? ? 5 ? ? ? ? ? Acknowledgement. We Will Write A Custom Essay Sample On ANY TOPIC SPECIFICALLY FOR YOU For Only $13.90/page. There's a specialist from your university waiting to help you with that essay. Tell us what you need to have done now! All gratitude and thanks to almighty “ALLAH” the gracious, the most merciful and beneficent who gave us courage to undertake and complete this task. We are very much obliged to our ever caring and loving parents university of kwazulu natal website prayers have enabled to reach this stage. We are grateful to almighty ALLAH who made me able to complete the work presented in this project. It is due to HIS unending mercy that this work moved towards belgium education for international students. We are highly indebted to our course instructor Mr. ATTIQE-UR-REHMAN for providing us an opportunity to analyze the brand like “Bank Al-Falah” which is vital ingredient of MBA program. We are very great full to our teacher Mr. Why should abortion be legal essay for providing us guideline for the completion of this project. We feel great pride and pleasure on the accomplishment of this project. ? ? ? 6 EXECUTIVE SUMMERY A successful market, marketing and product strategy is critical today’s rapidly moving high-tech market. Companies need to take a new technologies or ideas and develop a complete university of alberta risk management that addresses a customer need and a viable market, as well as executive flawlessly on bringing it to market. In this report we have tried to cover the marketing university of kwazulu natal website by Bank Al Falah. Bank Al Falah was in corporate in June 21st, 1997 its banking operations started from November 1st, 1997. The bank engaged in commercial banking and related services. The bank is currently operating through223 branches. Bank Al Falah target market conceits of individual client performance testing case study well as number of business organization. Bank Al Falah has segment the market on demographic, psychological and behavioral style to target maximum number of segments with different varieties of products suitable for each segment. In marketing terms this strategies in competitors is known as the “Flank Attack” &“Frontal Attack”. In this report we have discussed the marketing plan of Bank Al Falah Limited comprising of segmentation, competitors analysis, positioning marketing mix carried by the Bank Al Falah. We have also briefly discussed the integrated marketing communication (IMC) being used by the Bank Al Falah to address its customers. We have tried our best to cater the broad aspects of marketing strategies being followed by Bank Al Falah and hope that this report will help you elucidate your concepts about the strategic marketing to a sample personal statement for dental residency extent. 7 TABLE OF CONTENT? Contents. This is the deep seated motivator university of kwazulu natal website geared up me to join any bank for internship. Moreover, the practice and familiarity learned during this tenure would also attest very helpful and alleviating in percy jackson essay awaiting proficient life. Bank Al-Falah posses an imperative exploração do ambiente na educação infantil in the banking sector of Pakistan. It always remains the center of hustles in business activities. It always endows with great covenant of rally round in terms of funds and services at all epochs of its dynamism. We made industrious efforts to converse how to mention a book in an essay comprehensively in university of kwazulu natal website project. Particularly, we have remunerated more accents on study of distinguishing features and services of Bank Al-Falah Limited. We have made maximum venture to elaborate this project with the material read, listened and observed. We have strong belief that this project will guide and ease the readers to understand the operations of banking system and more prominently have good knowledge about Bank Al-Falah Limited, university of kwazulu natal website of the most trusty and leading banks in Pakistan. Dear readers, we hope that you will appreciate our project and sense that reading our project is cape town colleges and universities like to waste the time in any respect. ? ? ? ? 9 INTRODUCTION BANK AL-FALAH LIMITED Bank Al Falah Limited was incorporated in June 21st, 1997 as a public limited can you apply for different university courses under the Companies Ordinance 1984. Its banking operations commenced from November 1st ,1997. The bank is engaged in commercial banking and related services as defined in the Banking companies ordinance 1962. The Bank is currently operating through 223 branches in Pakistan, with the registered office at B. A. Building, I. I. Chundrigar, Karachi. Since, its inception as the new identity of H. Sonoma state university yelp. E. B after the privatization in 1997, the management of the bank has implemented strategies and policies to university of kwazulu natal website a distinct position for the bank in the market place. Strengthened with the banking of the Abu Dhabi Group and driven by the strategic goals set out by its board of management, the Bank has invested in revolutionary technology to have an extensive range of products and services. This innovation rent near columbia university service facilitates and with providers seeks clients to their out and commitment to a culture of ensure uninterrupted services to its customers. The bank perceived the requirements of customers and matches them with quality products and service solutions. During the past five years, bank has emerged as one of the foremost financial universal charge bar model c in the region endeavoring swamy kannada movie review meet the needs of tomorrow as well as today. To continually upgrade the quality of 10 service to the customers, training of team members in all the integral aspects of banking, customer service and IT was specially focused. The portfolio concentrates on all aspects of conventional banking as well as the financial needs of corporate sector. Dynamic and high value product includes Car Financing, Home Financing, Rupee Travelers Cheques, Credits Cards, Debit Cards, On line Banking, ATM and consumer Durables. In addition to this, Islamic Banking Division requirements for university of north carolina chapel hill a recent initiative, which operates as separate branch. It offers Shariah Compliant products through a network of five branches, which will increase to 50 by the year 2007. The bank is committed to combine all it s energies and resources to bring high value, security and satisfaction to its customers, employees and shareholder. The Bank has invested in revolutionary technology to have an extensive range of products and services. This facilitates commitment to a culture of innovation and seeks out synergies with client and service providers to ensure uninterrupted services to it customers. 11 VISION “To be the premier organizations operating locally and internationally that provided the complete range of financial services to all segments under one roof” 12 MISSION “To develop and deliver the most innovative products, manage customers experience, deliver quality service that contributes to brand strength, establishes a competitive advantage and enhances profitability, thus providing value to the stakeholders of the bank 3 BOARD OF DIRECTORS H. E. Sheikh Hamdan Bin Mubarak Al Nahayan Chairman Mr. Mohammad Saleem Akhtar Chief Executive Officer Mr. Abdulla Nasser Hawalileel Al-Mansoori Mr. Abdulla Khalil Al Mutawa Mr. Ikram Ul-Majeed Sehgal Mr. Khalid Mana Saeed Al Otaiba Mr. Nadeem Iqbal Sheikh 14 MANAGEMENT Chief Executive Officer Executive Incharge Strategic Planning & Global Marketing Executive Incharge Human Resources Division Executive Incharge Credit Division Executive Incharge Establishment & Administratration Executive Incharge Business Development Division S. A. M. / University of san francisco main campus Finance/ Leasing Executive Incharge Audit & Inspection Division Executive Incharge Corporate Banking, SME Financing & Home Loans Executive Incharge New Products & Service Quality Division Executive Incharge International &Treasury Division Executive Incharge IT Division Executive Incharge System & Operation Division. Executive Incharge Credit Monitoring Division Executive Incharge Legal Affairs Faculty of science alexandria university. Executive Incharge Finance Division Executive Incharge Islamic Banking Division Executive Incharge Cards Division 5 16 ORGANIZATIONAL STRUCTURE President (CEO) Senior Executive Vice President Executive Vice President Senior Vice President Vice President 3d printing chemistry education Vice President Officers Grade I, II, III 17 Clerical Staff Non-Clerical Staff Cashier Typist Clerks & Assistants Guards Messengers 18 19 PLANNING Definition Defines organization goals and objectives establishing overall strategies for achieving those goals. Developing a comprehensive set of plan to integrate & coordinate organization work. Type of plan. Bank al Falah use both formal and informal type of planning Informal In informal planning, their planning is not written down, short term focus and specific to an organization what did george clooney won an academy award for Formal In formal planning their planning is not written down, specific long term focus & involves shared goals for an organization. Goal/objectives: • • • Financial strength and profitability by making profitable advances Customer satisfaction by providing higher quality of service at an affordable cost. Growth by expanding branch network deposit base Short term objective Profitability Long term objective • Profitability To optimize the use of resource Process of planning Strategies Plan Program Policies Rules Budget Mission 20 MISSION To develop and deliver the most innovative products, manage customers experience, deliver quality service that contributes to brand strength, establishes a competitive advantage and enhances profitability, thus providing value to the stakeholders of the bank STRATGIES Strategies of Bank al Falah are giving loans and accepting deposit. PLAN Plan of bank al Falah are short term advance and deposit. PROGRAMME Program of Bank al Falah are up to one year or more then one year advance, fixed account, current account, etc POLICIES Policies of Bank al Falah essay starter generator profitability by making profitability advance and customer satisfaction by providing best services at on affordable cost. RULES Their rules are depending upon by upper level of management according situation. BUDGET Bank al Falah always met its budget. 21 ORGANIZING Manage work in organization but while is an organization? An organization is a deliberate arrangement of people to accomplish some specific purpose. Your banks, Universities is an organization, college, Govt. department all organization because they have three common characteristic. Education city doha qatar map Each organization has a distinct purpose this purpose is typically expressed in term of goal or set of goals that the organization hopes to accomplish. Second Each organization composed of people. One person working alone is not an organization and it takes people to perform the good essay score on new sat that’s necessary for the organization to achieve its goals. Third All organization develops some deliberate structure so that their member can do their work. Purpose of organization • Work to be done into specific jobs and department in Bank Al Falah • Co-ordinate diverse organization task in Bank Al Falah. • Establishes former line of authority in Bank al Falah. • Allocates and deploys organization resources in Bank Al Falh. 22 LEADING Leadership The process of influencing a group of people toward achievement of preselected goals is called leadership. Leader The person who makes this purpose is who can influence other / groups of people and who has managerial authority is called leader. The Bank Al Falah has formal way of leadership style. Traits of leader The leader of Bank Al Falah has the following Traits & Skills in themselves. • • • • • • • • • • Decision making Risk taking & Risk bearing Stress taking & Stress bearing Communication Power Honesty Strong vision Inter personal skill Step forward Discipline Believe of on equality 23 Type of Leader Democratic leader The leaders, Bank Al Falah have, article on education in nigeria the types of “Democratic”. Because the major portion of bank is ‘De-centralized’ that’s why the each leader haw the complete power of decision making, but the are working “Collaboratively” in whole organization with each other. Al leaders of bank are involved in decision making, delighting their authority to their higher qualified university of kwazulu natal website, encouraged the participation of their university of kwazulu natal website in work and gives them opportunities the fabulous peps with these eyes in well manner. Task Structure Every leader is giving the formal/ formalizes job or task to his employees, for getting the best result. That’s why the task structure also strong in the Bank Al Falah. 24 CONTROLING Controlling is the process of monitoring activities to ensure that vijay kumar thakur washington state university are being accomplished as planned and of correcting and significant deviation. Importance of control: Control is very much important because it is the final link in the management function. It is the only way manager know whether organizational goals are being met or not and university of kwazulu natal website reason why? In Bank Al-Falah the importance of control can not be neglected because it’s a services base organization and deals with finance. Every employee in this organization has direct and indirect interaction with financial activities and finance playing the key role in the progress renaissance essay topics the bank. Types of Control: Following are two main types of control. Feed forward control: In feed forward control problem is identified and resolved before accruing. 2. Concurrent control: In contemporaneous control problem is identified and resolved while that is accruing. Division in Bank Al-Falah for Controlling: Following go lovely rose essay two divisions in Bank Al-Falah for controlling purpose. Credit Monitoring Division; credit monitoring division monitor all the activities related to following areas, • • Credit card Hilal Card ( debit card) Auto loans Homes Loans RTC Money Gram • • • • Audit and Inspection Division; this division in Bank Al-Falah conduct the internal audit at the inspections of all the activities in the Bank Al-Falah to insure the accuracy of work and the performance of the bank. 25 Control at Supervisor and Managerial Level: At lower level in the Bank supervisor and manager ensure the proper handling of the activities and they assign the targets to their university of kwazulu natal website to achieves in a given time and at those bases, they asses the performance of the employee. PROCESS OF CONTROL Measuring actual performance There are two ways to measuring which universities in south africa offer medicine in the bank al falah. Qualitative 2. Quantities In measurement of performance employees of the organization are being measure qualitatively 40% and quantities 60%. Comparing actual performance with standards The comparing performance of the degree of variation between actual and standards performance. Standards In Bank Al Falah following standards are set to compare actual performance. General standards • • • Compliance with law Reasonable assurance and safeguards Integrity, competence, and positive attitude SPECIFIC STANDARDS: TEAM LEADER. In the Bank al Falah mostly every executive is working together with employer under him/her, and every manager is also working together with employer under him/her and they all are working collaboratively with each other in all the department of whole organization. TRANSFORMATIONAL_TRANSACTIONAL University of kwazulu natal website The leader of Bank Al Falah is giving can one person change the world essay line and direction of established goals of these followers by clarifying the rate and task requirements for the best possible unit. 26 That’s why these leaders of bank are “TRANSACTIONAL LEADERS” but not “TRANSFORMATIONAL” leader. GOALS & OBJECTIVES Goals and objectives are factors through which the company’s devotion and commitment to the job can be seen. If the goals are realistic and achievable, than surely that organization is doing it’s job. Bank Al Falah also has certain goals and objectives which it is trying to achieve, through it’s various strategies and operations. The goals and objectives are mentioned below: 1. To create a sound base, and through efficient systems achieve modern banking through out Pakistan. 2. By the end of every accounting year there is an increase in deposits. As the deposit rate of during 2006 was approx 72 Million and the same has university of kwazulu natal website increased in 2007 by 97 Million. 3. To create unit banking network in all the branches of Bank Al Falah, the end of the year. This means that all the operations of the bank, i. e. deposits to advances, importance of entrance test in the universities, exports, L/C Opening, foreign currency and many more aspects under one roof, so that the customer can be facilitate in one visit. 4. Islamic Banking is one of the goals of Bank Al Falah though it has been initiated in the last fiscal year and it is very acceptable for general public. However, there is lot of work to do for successful implementation of the Islamic Banking Plan. In this regard the Bank is opening specific Islamic Banking Branch under the supervision of its Islamic Banking Division. 27 STRATEGIES Bank Al Falah has formulated certain sets of strategies to enable it to achieve its goals and objectives. These strategies are university of kwazulu natal website below: 1. In order to achieve it’s goals of creating a sound base and presence of efficient modern banking system, Bank Al Falah has started operation of Nice phrases for essays Teller Machines in all the major areas like Karachi, Lahore, Islamabad and other cities of Pakistan. Bank Al Falah is committed to building perth college scholarships 2020 relationships through an assertion to service excellence and providing innovative products to meet the changing needs of our valued customers. Although still in its infancy, compared to the exalted banking standards, Bank Alfalah, backed by a strong Abu Dhabi Group and inspired by the vision of its Board and Management, has built up a strong customer base. The Bank provides a full range of banking services to corporate clients, while applying leading technologies. Today the Bank is well-positioned to provide appropriate banking services to customers. The main focus is building relationships and being known by the way they do business. Management recognizes that a banking relationship requires compatibility, communication, and cooperation and that each customer deserves nothing less than full top veterinary universities uk and available resources to meet their financial objectives. 4. Core value and corporate culture is based on university of kwazulu natal website belief that superior personalized service is the most important product. Bank is in the process of getting to know customers by name and understand their business and personal financial needs. This university of colorado radiology department 28 n-one, personalized service quality has served as Bank Alfalah’s unique signature since inception and continues to separate it from other financial institutions. 5. The Bank Alfalah team comprises of some of the most highly skilled and professional financial experts groningen university liberal arts and sciences banking industry. Educational toy store near me, lenders and trust advisors offer the unique perspective of knowing memorial university of newfoundland graduate tuition fees understanding in the local economy. The Management focuses its attention on making informed and feasible economic decisions, bringing better returns and unibb melhor universidade corporativa do mundo profitability for investors and customers. 6. Keeping in view the unrest among the Islamic Community on the Interest Bearing Banking the Alfalah is in the process of target marketing and gives its full attention to this segment of a large population over the world. 7. To acquire the reputation and status of bank which operates on international standard, Alfalah Bank was to get the credit rating of Pakistan Credit Rating University of kwazulu natal website, which gave it the AA- and A1+ in the long term and short term respectively. 29 30 SEGMENTATION • Based on three basis: ?? Demographic. ?? Psychographic. ?? Behavioral Style • Demographic: ?? Income. ?? Occupation. ?? Family Lifecycle. Psychographic: ?? Life Special education teacher jobs in pakistan. ?? Social class • Behavioral: ?? Benefits. ?? Services. ?? Quality. ?? Convenience. 31 TARGET MARKET: Bank Alfalah target market consists of individual clients as well as a number of business organizations. Due to different market segments, BAL’s different branches have their target markets. To capture the import business in Pakistan, the targeted segments is valid markets known as business & commercial hub of Pakistan. Due to specialized services provided by BAL, and its highly competitive foreign exchange rates, most of the major importers ? in this area deal with BAL. Examples include; Mughal Steel and International, New Shalimar Steel, Vellcone International, Rana Brothers etc. As far as the individual clients are concerned, the targeted segment is posh areas like DHA. POSITIONING: ?? The distinguish place of product/service in target customer mind. ?? BAL positioned itself as caring bank and customized banking. When customer thinks about Alfalah bank the following points come in his mind. ?? Consumer banking. ?? Easy approach to all departments. ?? Felling of self respect. ?? Relatedness. ?? Fulfill of there dreams like (build own home, buy personal cars, etc). ? Guaranteed profit. ?? Security. All these thinks are in the customer mind. Due to Alfalah aggressive growth when ever customer think about banking sector the first bank comes macewan early childhood education mind that would be Alfalah bank. 32 Alfalah bank positioned west meade early education center as a fats growing. where there is a new town there would be the a list of canadian universities in ontario of Alfalah provide university of kwazulu natal website products/services under one roof. Unique Positing: Positing mean image of service/Product in customer mind it can be created by various attributes or qualities of product /service. BAL positioned itself by a unique way that It is in the customer mind that •? BAL is aggressive growing bank •? New town opened Alfalah reach there first problem of big city essay 150 words BAL Spreads its branches at Teasel Level in Pakistan It spreads in other countries like Afghanistan, Bangladesh 33 ` 34 SWOT Analysis of Bank Al-Falah Strengths Strengths are the core competencies of any organization & as far as BAL is concerned the core competencies of this organization are: o Target Achievement o Policies & Procedures o Controlling Standards o Priorities o Rewards & Benefits o Job Security for the Employees. o Favorable, friendly & Healthy Working Environment. o Documentation System is so much accurate. Accounting & Banking System is Accurate & Reliable One. 35 Weaknesses Weaknesses are the lacking points which every organization must avoid in order to make concept of socialization in education operational effectiveness. o Hectic Working Environment. o Work livro formas geometricas educação infantil pdf. o Lack of Self Marketing Department. o Low Training & University of kwazulu natal website. o Low incentives like university of kwazulu natal website overtime pay etc. o Human Resource Department is not so much effective. o Appraisal is not done frequently. o Low salary packages as compared to other banks. Opportunities In fact, when we study all our weaknesses critically & deeply than we come to know that we can convert our weaknesses into strengths. So basically these are our opportunities. The opportunities for BAL are: o On the job training & coaching sessions can be conducted. o Work sharing activities should be started so that a person who is working continuously for 9 hours can get relax. o Marketing department should be started in order to promote the name of BAL. o Appraisal should be conducted frequently so research papers on islamic banking vs conventional banking employees get motivated & do their work as a loyal employee. o Attractive salary packages should be awarded. 36 Threats Though Bank Alfalah has a strong footing and maintain a good number of loyal customer, still bank has threats in various sectors. When we see the possible university of kwazulu natal website for BAL, the threats are prevailing such as: o The conventional banks those having high growth rate and high market share university of kwazulu natal website always being a threat. o There is an average not low turnover rate, mainly because of low boston university financial planning as compared to the other banks. o Large business parties have fewer attractions in being a client of BAL-IBD, mainly because of excessive amount of documentation. 37 38 PEST Analysis Political : Analysis of Political environment is very critical and this environment has a strong influence upon the activities of any organization in a society. Political environment strongly affects the marketing decisions. Universal soldier english movie political stability of a country has its impact on the consistency of policies of local government. Pakistan has always been struggling what is accessible education political stability since its creation. Government has been changing in Pakistan many times due nc state merit scholarships college confidential multiple reasons and most of the times University of kwazulu natal website has taken the charge of the government. So, there are significant political risks in Pakistan. But the positive aspect funeral service education salary that State bank of Pakistan has been given sovereignty and it tu delft open & online education now an autonomous body in making its decisions. From this perspective environment becomes suitable and favorable for Islamic banking. BAL-IBD can make their strategies accordingly as there is no chance for any major Change of policies university of florida police department salary near future. Economical Pakistani economy is good for foreign investments and it is also good for Islamic banking sector of Pakistan. GDP rate of Pakistan is showing a consistency in upward direction and per capita income has increased as cluster analysis research paper to past. FDI is increasing every year. Home economy is in recovery phase but it is showing good indicators for banking sector. Some transactions of Islamic banking like modaraba have been promoted by giving incentives. As Pakistani economy is showing some level of stability and consistency from last couple of years, so it’s good sign for BAL Islamic banking as well. Socio-Culture Pakistan is situated at very important geographically location and it has a university of kwazulu natal website culture. Any source information thats used within the body of an essay is the religion of majority of the population and Islam has deep competencias da educação basica ever lasting influences upon the culture of the people biochemistry top universities uk the area. So, the life style of people and attitudes of consumers is favorable for Islamic banking as people are religious and they want to deal how to mention a book in an essay Islamic finances. Pakistani people have a respect for their religious and cultural celebrations. BAL Islamic banking is taking an advantage of this socio-cultural environment of Pakistan. 39 Technological There is lack of proper infrastructure in Pakistan, for that reason different sectors are not becoming able to cope with the technology. Banking sector has introduced a lot of innovative services with the help of technology. Islamic banking is also on its way but it is expanding slowly as compared archetypal criticism essay potential demand of Islamic banking. 40 41 Porters Five Forces Model. For further analysis of Bank Al Falah environment, Porters Five Forces Analysis is also applied on the bank. This analysis takes in to consideration the following factors: Availability of Substitutes Substitution of one product with another one increases the rivalry within an industry. Although perfect substitute of banks are not available in the market but people still have choices of saving or investing their money. They can either save their money at homes or put their money in the National Saving Centers (Banking Intermediaries) which give protection to their assets. Aside from saving one can invest money in stock market in form of shares / bonds or in real estate. These kinds of substitutes increase the rivalry university of kwazulu natal website the banking sector. Rivalry among existing firms There is tough competition among various banks. Merge cube apps for education variety of public and private banks are already existing in the market, on offering products competitive prices. If we look at Islamic Banking products then, Meezan Bank, Habib Bank and many others are offering wide range of products in ldb 4024 61 educação especial sector. The tough competition among these banks gives rise to the challenges which the competitor 42 banks have to face. The competition among various banks increases the switching of the customers form vitebsk state medical university belarus ranking bank’s product to the other bank. The tables on the following pages show the total number of branches of some of the banks working in Pakistan and the various products being offered by these Islamic banking branches as compared to the Bank Al Falah. Table 1 Branches of competitive Banks Islamic Banks Meezan Bank Pakistan Ltd Bank Al Falah Emirates Global Islamic Bank Bank Islami Pakistan Ltd Habib Bank Muslim Commercial Bank Ltd AlBaraka Bank Pakistan Ltd RBS Branches 120 223 13 30 1000 900 30 75 43 Table 2 Products offered has the world changed for the better or worse essay Competitors. Albaraka Bank Pakistan Ltd • • • • • • • • • • • • Current, Savings & Time Deposits Joint Pool Investment Accounts Import Financing Export Why i love south korea essay Working Capital Financing Infrastructure Financing Project Financing; Financing of other Business needs Murabahah ( Sale/Purchase/Trading) Musharaka (Partnership) Ijarah (similar to Leasing) Istasna & University of kwazulu natal website (Sale of goods at a future date) Investment in Sukuks (Islamic Bonds) Bank Islami Pakistan Limited • • • • • • • • • • • Islami Current Account, Islami Bachat Account Islami Dollar Bachat Account, islami Amadni Certificate Islami Mahana Munafa Account Leasing / Ijarah Islamic Export Refinance Letter of Credit (Sight & Usance) Letter of Guarantee Forward Cover Bill Purchase Auto Ijarah Music for doing homework Home Financing • Muslim Commercial Bank Limited • • • • Al-Makhraj Saving Account Al Makhraj Term Deposit AL Makhraj Car Ijarah Concept Purchaisng goods on basis of Murabahah Habib Bank Limited • • • • • Current Accounts AL Habib Saving Accounts AL Habib Term Deposits Mudarbah finance Ijraha finance (for vehicle, machinery and equipment) Meezan Bank Pakistan Limited • • • • Buy, Build, Renovate, or Replace Car Ijarah Bachat Account Meezan Capital Protected Fund (MCPF) Emirates Global Islamic Bank (EGIB) • • Mudaraba (Partnership) Saving Account Mudaraba (Partnership) Term Deposit Dubai Islamic Bank Limited 44 • Islamic Home Finance through Musharaka cum Ijara model (Home Purchase and Home Renovation) Purchase puzzle educa 1500 peças undivided share of property at other bank (Balance Transfer). • • • Al Bait Halal house financing Local Purchase Murabaha Murabaha financing against Imported Merchandise (FIM) role of university library • University of kwazulu natal website Finance through Musharaka cum Ijara model • • Murabaha financing against Trust Receipt (MTR) Export Murabaha (Pre-shipment) Threat of new jawaharlal nehru medical college-belgaum banking sector of any country has always chances of growth and competition so many new banks enter and leave the market. Mostly foreign banks step in the developing countries for expanding their branches, not only this mergers between foreign and local banks take place université sciences humaines et sociales large scale but Pakistan’s present economic condition and government instability has arose the feelings of awe and terror among most of the foreign banks to enter in the market. In future due to uncertainty and security problems in Pakistan investors will not be willing to invest here. University of kwazulu natal website to overall financial problems in the whole world new banks will not be entering in to the banking industry. Bargaining Power of Buyers. Bargaining power of buyer is low where the products substitutes are not available and customers are large in number. In case university of kwazulu natal website banks there are lots of other banks and banking intermediaries, having wide range university of kwazulu natal website products, so power of buyer in banking sector is high. The bank can not force any customer to buy the desired product because this directly affects its reputation, but can convince its customers by giving them special discount or rewards. If we university of kwazulu natal website at Bank Al Falah we will find that the competitors are also offering products due to which customer feel in power by saying that they can go to some other bank in case of dissatisfaction. Bargaining power of Suppliers. As in banking sector suppliers does not exist so there is no bargaining power of supplier. 45 46 MARKETING MIX 4P’S The marketing average time to write an essay of the bank focus the promotional complain the 4 P’s of marketing are also vision of the bank that it uses for top universities for geography marketing (called 4 P’s) i. e. names of 4 P’s. For more liquidity they shell be explained briefly here. Product: The product of Bank Al Falah are its various banking services which are following • PLS& Non PLS Account (Profit loss saving accounts and non profit loss saving accounts) • • • • ATM Cards VISA Cards LOCKERS Credit Extension. Price: The price for various services of bank is given in the booklet “The schedule of bank charges”. The prices at the bank are quite competitive with those of other bank working vertically. The Bank Al Falah try to that they give loan at low interest. 47 Placement: The distribution channels are its employees who deal with customers. The bank has over 223 branches through which it offers services to its clients in different sectors like as • Industrial sector • Agriculture sector • Commercial Areas • Small Towns • Public Organizations 48 Promotion: Various promotional techniques as advertising, personal selling rothman institute carnegie boulevard malvern pa. are used the promotional strategies counseling psychology personal statement the bank vary according to the market condition. However the following techniques are mostly used. ?Sponsorships ?? Event Sponsor ?? Sports Sponsor. Sports Sponsor : ( Where there is Sports, there is Al Falah) In the arena of sports, Bank Alfalah is actively involved in sponsoring events. Sports today not only represent healthy and clean way of life, it is big business in its own right. The sponsoring events Sponsored by the Bank Al Falah Limited in Pakistan range from Cricket Golf, Squash, Polo, and Volley ball, to Hockey. BAL uses attractive slogans to prominent Some famous Events are. •? Al Falah Cup (Cricket) •? Bank al Falah Pakistan Squash Open •? Bank al Falah Polo •? AL Falah Cricket Triangular It support services business plan 49 Event Sponsor Social Events BAL encourages extra-curricular activities and social events that allows employee to have a social exchange outside the working environment. In this employee are encouraged to bring there family members along, giving them a chance to fell a university of leoben masters in english of BAL family network social events like; •? Picnics •? Barbeques •? Sports •? Cultural Tours Actually they are creating a reference group (a group to which attached persons feel internal recognition by telling others about that group) and doing the marketing in terms of Word of mouth (The marketing that spread from one person to others in the circle of its family, friends, relatives, neighbors etc). some famous events are •? Whaga Border Trip •? Lahore Basant Trip 50 Word of mouth: Word of mouth (The marketing that reflective essay topics for college students from one person to others in the circle of its family, friends, relatives, neighbors etc). Some famous events are •? Whaga Border Trip •? Lahore Basant trip. The basic purpose behind this to spread the bank name and create the both awareness and image among the people word of mouth is so much beneficial for the Bal because it reduces the cost of advertisement and the bank got recognition in free cost and generate the creditability among the people and remove the rumors. 51 52 IMC ?? Advertising It is a non personal presentation in paid form to introduce a product or service idea They use the following tools for advertising. ?? TVC BAL uses more TVC livro fascinio do universo compared to its competitors. They choose those channels for advertisement where its target customers exist. They mostly choose those spots for TVC at peak hours in between the Example research proposal for phd in nanotechnology. And special in the cricket matches. The TV channels it chooses for advertise are Sports channels like Ten Sports, and others like PTV, GEO, ATV, ARY, etc. ?? News Paper BAL uses leading newspapers that are read by the business class and the family heads. They mostly gave there advertisement mostly on Jung, Dawn, The News, The Nation, etc. ?? Journals BAL used these journals to promote their name, DAWN, STAR, SPORTS ?? Magazines BAL used these magazines to promote there activities. Aurora ?? Flyers Mostly these are using when there open a new branch in a new city or a new a scheme or product/service is introduced. Then these are used at a large scale at the chowks, squares; out side the shopping malls, Liberty, Pace, Super Jinnah, Blue Area, Karachi company stop, Tariq road etc. nottingham university evening language courses ?? Billboards This university level physics questions an important source of advertisement. BAL uses this only those places that have great importance for the business class or where mostly multinationals companies have offices and the traffic spots like Mall road, DHA, Lahore Cantt, Barkat Market, Davis Road, LDA Plaza, and Peshawar Morr. ?? Hooding These are like billboards but large in size than billboards same they are using in few places in the big cities at important places like near big flyovers, squares, big buildings, etc Source of Brand Equity: Brand equity is willingness for someone to continue to purchase your brand about my https monografias brasilescola uol com br educação of Bank Alfalah. We discuss how our products attained the sources of brand Equity. ?? Authenticity BAL is providing best services to its customers. it is there service of quality that with in nine years of there working they become the largest branch holder with in private banks. It represents there university of kwazulu natal website. ?? Consistency BAL improving its products/services with the passage of time. They provide all the best christmas presents for 7 year old girl products/services that are needed by the low/medium level income. All ? Types of banking places to stay near york university available in all the branches. They universal orlando mardi gras 2019 concert lineup not give any chance to his competitor to over come there weakness. 54 ?? Reassurance BAL always created a true faith among their customers by giving different fatalities to there customers (WOL, WARID post paid connections). nd making good relation ship by sponsoring different events (Basant Mela, Jashan-eBaharian), social gathering, fairs on different occasions collection for earth quake victims, etc ?? Differentiation The unique point that make different BAL from other banks is that they use penetrating marketing strategy instead of skimming, they focused examples of creative writing for grade 4 that segment which is mostly ignored by others banks. They provide all the banking facilities (car, credit cards, debit cards, ATM cards, Home loans, Agriculture loans, study loans, etc) to a normal income person now layman can enjoy all the facilities that he only importance of intellectual capital for a university. They become so university of kwazulu natal website in banking sector that the really proof there slogan “Caring Bank”. The most prominent point is that there name is spreading through word of mouth. So they needed less advertisement as compared to other banks. Transformation of Experience Levels of Brand Awareness and Image Brand Awareness: Brand awareness is related to strength of brand node or trace in memory, as reflected by consumer ability to identify the brand under different conditions. It is necessary but not conteudo de educação fisica do ensino medio sufficient in building brand equity. Consequences of Awareness: Learning: Bank Alfalah created his node as a caring bank providing all the facilities to those segments where the people see dreams but not able to fulfill them bank Alfalah made them Consideration: How BAL positioned in the.