Marketing Trend and Development in Recovery Management- Asset Status of Commercial Banks

Abstract

The commercial banks serve as the king pin of the financial system of the country. They render many valuable services. Commercial banks advance credit for purchase of durable consumer items like Vehicles, T.V., refrigerator etc., which are out of reach for some consumers due to their limited paying capacity. In this way, banks help in creating demand for such consumer goods. Commercialbanks provide credit facilities to rural people by opening branches in t he backward areas. The funds collected in developed regions may be channelised for investments in the under developed regions of the country. In this way, they bring about more balanced regional development. Marketing is a total system of business activities designed to plan, price, promote and distribute wanted and satisfying products to target markets to achieve organisational objectives. Marketing strategies of banking sector revealed that banks can base their marketing strategies on various parameters which are broadly in terms of 7Ps of marketing viz., Product, Place, Price, Promotion, People, Physical Evidence and Processes. Marketing strategy is the firm's product –market choicewhich is guided by the environmental necessities and firm's objectives and capabilities. The present study focuses on marketing trend and development in recovery management with special reference to asset status of commercial banks. And study based on both Primary and Secondary sources of data collection.