An empirical study on marketing of financial services & products

The commercial banking industry has undergone significant change in the past 15years. From the origin of commercial banking, the cost of its key ingredient like money was controlled. The business activities in which banks could and could not compete were largely determined by legislation. Today, large commercial banks operate in a far more dynamic marketplace, Haggerty, A.G. (1988),The cost of funds fluctuates rapidly and there is increased competition from both inside and outside the traditional banking industry. Federal and state legislation continues to exert influence on the industry, products and customers are increasingly sophisticated and the rate of change in the industry continues unabated. Such rapidly changing circumstances have prompted a number of significant changes in traditional bank management.

This study is empirical in nature. This research is based on data collected through structured questionnaire from 20 Relationship managers of Nationalized and Schedule Banks at Uttarakhand. The item analysis and factor analysis is applied to collected data to identify the significance of the factors.