1) Technology: Marketing by private sector banks and foreign banks is more effective than public sector banks because these banks are IT oriented. Private sector banks and foreign banks are attracting more customers by providing e-services. Thus, technology has become a challenge before the public sector banks.
2) Untrained Staff: Often it happens that when a
prospective customer approaches the branch, the employees seem to have very
little knowledge about the scheme. This reflects an ugly picture of our bank’s
image. Banks are not losing one prospective customer but 10 more customers who
would be touch of this man. Attitude of the employees towards customers is also
not very well. Thus, it is a need of time to reorient the staff.
3) Rural Marketing: This is a big challenge before
the commercial banks to enhance rural marketing to increase their customers.
Banks should open their branches not only in the urban and semi-urban areas but
also in the rural areas.
4) Trust of Customers: Marketing can be enhanced
only by increasing the customers. Customers can be increased or attracted only
by winning the trust of the customers.
5) Customer Awareness: Customer awareness is also a
challenge before the banks. Bank can market their products and services by
giving the proper knowledge about the product to customer or by awarding the
customer about the products. Bank should literate the customers.