TERM PAPER

OF

SERVICE MARKETING

ON

CITI BANK

SUBMITTED TO SUBMITTED BY

Ms. SAVITA ANCHAL GUPTA

(LECT IN MGT) LSB RR1810B37

10811778 (MBA)

GROUP – G3

EXECUTIVE SUMMARY

The objective of this project is to analyse the services of CITI BANK. For the company to

compete successfully and to retain the first position in among banking companies, it needs to

understand the general public perception and feedback so as to provide them the best

products and services to in order to compete with others and to be the market leader.

This term paper helps to know about the services provided by the CITI BANK and also the

price charged by the CITI BANK for its services. This report also include the service gap

model I Gap refers to the difference between customers’ expected service and management’s

perceptions of customers’ expectations. This gap means that management may not correctly

perceive customer expectations.

II Gap - refers to the difference between management perceptions of customers’ expectations

and service quality specifications. This gap means that although the people in management

level may perceive the correct expectations of the customers, they may not have suitable and

sufficient service quality specifications.

III Gap - refers to the difference between service quality specifications and the real service

delivery. This gap means that although the service providers may have suitable and sufficient

service quality specifications, they may not have the satisfactory service delivery in the real

situation. That may be because service providers lack well-trained employees to deliver

satisfactory service.

IV Gap - refers to the difference between the service delivered and external communication

about the service with customers. That is, the service providers may not have suitable and

sufficient communication with the customers or the service providers may have commitments

that exceed what they can do or they may not sufficiently inform the customers of what they

have done.

V Gap - is the difference between consumer expectation and their perception of service

quality - measured by the difference between what customers expect and what customers

perceive about the service.

The report also include the customer expectations towards the CITI BANK. How the

customer get satisfied from the bank. The report also include the segmentation of the CITI

BANK services which include

The report also presents the service blueprint of the citi bank which is helpful to know the

services provided by the citi bank. The report also includes the full description of the CITI

BANK. And the marketing mix of the citi bank which is consist of 7p’s of the service

marketing. And also include the IMC plan of the CITI BANK.

So at last I can say that this report is the encyclopedia of the CITI BANK services.

INTRODUCTION OF CITI BANK

Following its merger with the First National Bank, the bank changed its name to The First

National City Bank of New York in 1955, then shortened it to First National City Bank in

1962.

The company organically entered the leasing and credit card sectors, and its introduction of

USD certificates of deposit in London marked the first new negotiable instrument in market

since 1888. Later to become part of MasterCard, the bank introduced its First National City

Charge Service credit card - popularly known as the "Everything Card" - in 1967.[8]

During the mid-1970s, under the leadership of CEO Walter B. Wriston, First National City

Bank (and its holding company First National City Corporation) was renamed Citibank, N.A.

(and Citicorp, respectively). By that time, the bank had created its own "one-bank holding

company" and had become a wholly owned subsidiary of that company, Citicorp (all

shareholders of the bank had become shareholders of the new corporation, which became the

bank's sole owner).

The name change also helped to avoid confusion in Ohio with Cleveland-based National City

Bank, though the two would never have any significant overlapping areas except for Citi

credit cards being issued in the latter National City territory. (In addition, at the time of the

name change to Citicorp, National City of Ohio was mostly a Cleveland-area bank and had

not gone on its acquisition spree that it would later go on in the 1990s and 2000s.) Any

possible name confusion had Citi not changed its name from National City eventually

became completely moot when PNC Financial Services acquired the National City of Ohio in

2008 as a result of the subprime mortgage crisis.

Automated banking card

Shortly afterward, the bank launched the Citicard, which allowed customers to perform all

transactions without a passbook. Branches also had terminals with simple one line displays

that allowed customers to get basic account information without a bank teller. When

automatic teller machines were later introduced, customers could use their existing Citicard.

Credit card business

In the 1960s the bank entered into the credit card business. In 1965, First National City Bank

bought Carte Blanche from Hilton Hotels. However after three years, the bank (under

pressure from the U.S. government) was forced to sell this division. By 1968, the company

created its own credit card. The card, known as "The Everything Card," was promoted as a

kind of East Coast version of the Bank America. By 1969, First National City Bank decided

that the Everything Card was too costly to promote as an independent brand and joined

Master Charge (now MasterCard). Citibank unsuccessfully tried again in 1977–1987 to create

a separate credit card brand, the Choice Card.

John S. Reed was selected CEO in 1984, and Citi became a founding member of the CHAPS

clearing house in London. Under his leadership, the next 14 years would see Citibank become

the largest bank in the United States, the largest issuer of credit cards and charge cards in the

world, and expand its global reach to over 90 countries.[8]

As the bank's expansion continued, the Narre Warren-Caroline Springs credit card company

was purchased in 1981. In 1981, Citibank chartered a South Dakota subsidiary to take

advantage of new laws that raised the state's maximum permissible interest rate on loans to

25 percent (then the highest in the nation). In many other states, usury laws prevented banks

from charging interest that aligned with the extremely high costs of lending money in the late

1970s and early 1980s, making consumer lending unprofitable.

Automatic teller machines

Citibank was one of the first U.S. banks to introduce automatic teller machines in the 1970s,

in order to give 24-hour access to accounts. Customers could use their existing Citicard in

this machine to withdraw cash and make deposits, and were already accustomed to using a

machine with a card to get information that previously required a teller.

In April 2006, Citibank struck a deal with 7-Eleven to put its automated teller machine

(ATMs) in more than 5,500 convenience stores in the U.S. In the same month, it also

announced it would sell all of its Buffalo and Rochester New York branches and accounts to

M&T Bank.

4 CHARACTERISTICS OF BANK

1) INTANGIBILITY:

A person who is new to a bank and wants to open up an account in the bank cannot feel or

taste it and ascertain whether the bank is good or bad before opening an account. He has to

experience it, feel how the service is, how humbly do people or the staff members behave

with him, is his money invested or put in a safe account or not. It is only then he would come

to know about the services. Financial services are generally intangible but the service

providers go to considerable lengths to tangibilise the service for customers. Regular bank

statements, credit cards, and insurance policy are all example of the way in which the

banking services are presented to the customer. They can enhance the image of the service

and the provider can bestow status or implied benefits upon the user as with a gold carpet.

Physical reminders of the service product, brand name and value serve to reassure the

customer and help the banks positioning.

2) INCONSISTENCY:

This refers to variability that a company or an organization may depend on Inconsistency. For

a bank, a new customer may not get the same type of service as much as a regular customer

may get. This may be the case because the staff members know the person well as he comes

often but they don’t know that person who does not come in again and again. Also another

point for inconsistency is that the service delivery by different people that is service is

delivered differently from different types of people. Like in case of a bank, different staff

members would provide different services. In the bank a person may be busy and may not

attend to a customer as may be a person with the same work may attend to him with great

enthusiasm. Example: “CITI BANK” that promotes itself as “crown of quality for customer

who is the king” and is an ISO 9002 certified bank. Thus it has to have consistency and

quality to serve its customers.

3) INSEPARABILITY:

Inseparability is that characteristics of a service indicating that it cannot be separated from

creator-seller of the product. Many services are created, delivered and consumed

simultaneously through interaction between customers and service producers. This is a source

of major limitation for the bank. But technology has in a big way helped the banks to cope

with this problem.

Production of services, when it comes to banks can be performed in the following 3 ways:

(i) Co- production: In this case both the service provider and the customer work together to

produce services. When a customer wants to withdraw cash from the banking premises, then

both the customer and the service provider needs to be present.

(ii) Isolated production: It is that part of service that is done outside to an organization. E.g.

Tele-Banking.

(iii) Self Service production: In this case, the customer uses the equipments of the service

providers and self serves it. Eg. ATM.

4) PERISHABILITY:

Inventory relates to the perishable characteristics of the service marketing. If a customer

starts his day at eight in the morning and ends it at four, but if bank is open only from 9:00

a.m. to 1:00 p.m. in the afternoon, then one might not be able to attend it. The demand for

banking services also fluctuates by day and hour. The day before the holiday, weekend, most

Mondays and Saturdays, pension and salary days are heavier than normal banking hours. So

service faces a lot of problem from inventory as it cannot be stored, saved and then used later.

SWOT ANALYSIS

STRENGTHS

1. CITI BANK is the strongest and most venerable play on Indian mortgages over the long

term. The management of the bank is termed to be one of the best in the country.

2. CITI BANK has differentiated itself from its peers with its diversified network and

revamped distribution strategy

3. CITI BANK has been highly proactive in passing on the cost and benefit to customers.

4. Besides the core business, CITI BANK’s insurance, AMC, banking, BPO, and real estate

private equity businesses are also growing at a rapid pace and the estimated value of its

investments/subsidiaries explains ~30% of CITI BANK’s market capitalization.

WEAKNESSE

1 High dependence on individual loans

2. Major stake held by American financial groups which are under stress due to economic

slowdown.

OPPORTUNITIES

1. Fast growing insurance business in the country.

2. Untapped rural markets.

THREATS

1. Loss of market share to commercial banks and HFC’s

2. Higher than expected increase in funding cost

3. Risk of fraud and NPA accretion due increasing in interest rates and fall in property prices

is inherent to the mortgage business.

Service marketing environment

Banks safeguard money and provide loans, credit, and payment services such as checking

accounts, debit cards, and cashier's checks. Banks also may offer investment and insurance

products. As a variety of models for cooperation and integration among finance industries

have emerged, some of the traditional distinctions between banks, insurance companies, and

securities firms have diminished. In spite of these changes, banks continue to maintain and

perform their primary role—accepting deposits and lending money.

Goods and services. Banking comprises two parts: Monetary Authorities—Central Bank, and

Depository Credit Intermediation. The U.S. Federal Reserve System is the central bank of the

United States and manages the Nation's money supply and international reserves, holds

reserve deposits of other domestic banks and the central banks of other countries, and issues

the dollars we use. The credit intermediation and related services industry provides banking

services to consumers and businesses. It secures the money of depositors, provides checking

and debit card services, and lends money to consumers and businesses through credit cards,

mortgages, car loans, investment loans, and lines of credit.

Industry organization. There are three basic types of banks: commercial banks, savings and

loan associations, and credit unions. Although some of the differences between these types of

banks have lessened, there are key distinctions.

Commercial banks, which dominate this industry, offer a full range of services for

individuals, businesses, and governments. Commercial banks come in a wide range of sizes,

from large global banks to mid-size regional and small community banks. In addition to

typical banking services, global banks lend internationally and trade foreign currencies.

Regional banks have numerous branches and automated teller machine (ATM) locations

throughout a multi-state area and provide banking services to individuals and local

businesses. Community banks are based locally and have fewer branches than regional or

global banks. In recent years, online banks—which provide financial services entirely over

the Internet—have entered the market, with some success. However, even in Internet banking

distinctions have lessened as traditional banks also offer online banking, and some formerly

Internet-only banks have opened branches.

Savings banks and savings and loan associations, sometimes called thrift institutions, are

the second largest group of depository institutions. They were first established as community-

based institutions to finance mortgages for people to buy homes and still cater mostly to the

savings and lending needs of consumers. Over time, distinctions between savings banks and

commercial banks have largely disappeared.

Credit unions are another kind of depository institution. Credit unions are formed by people

with a common bond, such as those who work for the same company, belong to the same

labor union, or live in the same county. Only people who have the common bond are allowed

to become members. Loans and savings accounts are restricted to members. Credit unions are

nonprofit organizations that are governed by a board elected by the depositors (members).

Interest on loans is the principal source of revenue for most banks, making their various

lending departments critical to their success. The commercial lending department loans

money to companies; the consumer lending department handles student loans, credit cards,

personal loans, and car loans; and the mortgage lending department loans money to

individuals and businesses to purchase real estate.

The money banks lend comes primarily from consumer and business deposits in checking,

money market, and savings accounts and certificates of deposit. These deposits often earn

interest for their owners, and provide owners with payment methods, such as online bill

payments, checks, and wire transfers. Deposits in many banks are insured and regulated by a

The financial crisis accelerated an ongoing fundamental change in the banking industry as

banks diversify their services to become more competitive. The financial crisis has allowed

stronger banks to buy other banks and companies that provide other financial services at

lower prices than before the crisis. Some other financial services that many banks offer their

customers include: financial planning and asset management services, brokerage services,

and insurance services. Banks purchase companies that offer these services and still offer

them through a subsidiary or a third party. The financial crisis also helped commercial banks

increase their share of the investment banking industry. Investment banks help companies

and governments raise money through the issuance of stocks and bonds. As banks respond to

regulatory changes and other changes driven by the financial crisis, the nature of the banking

industry will continue to undergo significant change.

8 P`s WITH REFERENCE TO CITI BANK

I. PRODUCT

Levels of service

Core

Product

Expected

Product

Augmented

Product

Potential

Product

The basic

necessity to use

banking

services in

order to handle

finance more

efficiently

Timely service

Long banking

hours

Low interest

rates

Goods waiting

rooms

Extensive ATM

network

Promotional

Discounts

Mobile and

internet

Banking

New Schemes

tailored for

specific

customers

Service Flower of CITI BANK:-

II. PRICE

The price mix in the banking sector is nothing but the interest rates charged by the different

banks. In today’s competitive scenario where customer is the king the banks have to charge

them interest at the rate in force on accordance with the RBI directives.

CITI BANK also compete in terms of annual fees for services lie credit cards, DMAT etc.

another important part of the banks pricing policy today is the interest charged on the Home

Loans and Car Loans. With India’s economy progressing there are more and more buyers

seeking these loans but at a very competitive interest rate. While framing a pricing policy

different pricing methods can be used:

Value pricing: This type of pricing is mainly done by CITI BANK having unique or different

products or schemes. They usually charge a combination of high and low prices depending on the

customer loyalty as well as the products. This type of pricing strategy is usually coupled with

promotion programmes.

Cost plus pricing: In cost plus pricing a detailed analysis of cost structure of CITI BANK

products and services is done.

Going rate pricing: The most pricing technique is going rate pricing. In going rate pricing the

banks bases its price largely depending on the competitor’s prices. The banks however have to stay

within the RBI directives and compete. The banks may charge higher or lower than their

competitor

Market oriented approach: This indicates what the market can bear or accept as in case of a

corporate client who may not be price sensitive as against an individual client.

Competitive based pricing: In competitive based pricing, the price is decided on the competitor’s

price.

III. PLACE

Some of the important factors affecting the location analysis of a CITI BANK are:

• The Trade Area:

• Population Characteristics:

• Commercial Structure

• Industrial Structure

• Banking Structure

• Proximity of other convenient outlets

• Real Estate Rates

• Proximity to public transportation

• Drawing Time

• Location of Competition

• Visibility

IV. PROMOTION

CITI BANK is promoted in two ways:

a) Personal promotion: the bank marketers get the best opportunity to tangibilize the

product through personal selling; persuasion is more effective with direct contact. It helps

in creating impulse buying. Now a Tele-Sale is also popular.

b) Impersonal promotion: i.e. advertising, publicity and sales promotion measures.

Banks use all types of advertisement such as newspapers, radio, television, magazines

and hoardings. Also sales promotion devices such as Point of Purchase Material,

brochures and advertisement specialist like ball pens, calendars, dairies etc.

V. PEOPLE

People are the employees that are the service providers. In a CITI BANK the service provider

plays a very important and determinant role in rendering the customers a satisfactory and a

good service. It is extremely essential that the service provider understands what his customers

expects from him. In CITI BANK the customer needs to be guided in a lot of matters which is

possible only with the help of the service provider. The position in the eyes of the customer

will be perceived by appearance, attitude and behaviour of the customer contact employees.

Not only the customers contact employee influence the customers but also the customer base

of the organization does so.

VI. PHYSICAL EVIDENCE

Physical evidence is the overall layout of the place. How the entire bank has been designed.

Physical evidence refers to all those factors that helps make the process much easier and

smoother. Most of the private and foreign banks portray a new welcoming and friendly look

to the customer. Flashy cheque books with the name of the account holder printed,

imaginative design of the bank brochure, statement of accounts with details of transactions

are other tangible aspects.

Logos, symbols, attractive brand names etc. add to the customer’s perception of service

quality. There is an urgent need to implement technologies in order to raise productivity as

well as to enable the banking system to cope with the increasing complexities of business.

For example in case of CITI BANK portray a new welcoming and friendly look to the

customers rather than drudgery banking counters. The physical evidence would be the

placement of the customer service executive’s desk, or the location of the place for depositing

Cheques. It is very necessary the place is designed in such a manner so as to ensure maximum

convenience to the customer and cause no confusion to him.

VII. PROCESS

Moments of Truth:

• Customer enters branch (Watchman)

• Security check (Security Man)

• Inquiry by customer (Banker)

• Interaction with banker (Banker)

• Fills form (Banker)

• Told will receive welcome kit (Banker)

• Customer leaves (Watchman

PRODUCTIVITY AND QUALITY

RELIABILITY lockers, Transfers, cheque drop box

ASSURANCE “Good people to bank with”

“good

TANGIBLES Gate of bldg, surrounding area, park, car park, Welcome Desk, Cheque books

EMPATHY Loss of cheque/ credit card.

RESPONSIVENESS Turn Around time taken to solve customer queries/

complaints

MARKET SEGMENTATION FOR CITI BANK

An organization is supposed to enter to the changing needs of customers; it is natural that all

customers have their own likes and dislikes. They have some uniqueness which throws a big

imprint on their lifestyles. This makes the task of understanding a bit difficult. It has the

context that we go through the problem of market segmentation in the banking service. In the

banking services, the banking organizations are supposed to satisfy different types of

customers living in different segments. The segmentation of market makes the task of bank

professionals easier. If the market segmentation is done in a right fashion, the task of

satisfying the customers is simplified considerably. The modern marketing theories advocate

the formulation of marketing policies and strategies for each segment which an organization

plans to solicit.

CRITERIA FOR SEGMENTATION

Segmentation in a right fashion makes the way for profitable marketing. This helps policy

planners in formulating and innovating the policies and at the same time also simplifies the

task of banking professionals while formulating and innovating the strategic decision. The

following criterion makes the segmentation right.

1. ECONOMIC SYSTEM:

An important criterion for market segmentation is the economic system in which we find

agricultural sector, industrial sector, services sector, household sector, and rural sector

requiring the weight age while segmenting.

agricultural sectorindustrial sectorservices sector

2). HOUSEHOLD SEGMENT

GENDER SEGMENT

3 INSTITUTIONAL SECTOR

In this sector we find different categories of organizations. Some of the organizations are

known as charitable organizations, some of them are cultural/ social organizations, some of

them are industrial and many of them are profit making and many are philanthropic and many

of them are related to trade and commerce. It is natural that the needs and requirements vis-à-

vis the level of expectations can’t be identical in all cases. To satisfy and to increase the

market share it is imperative that the banking organizations are familiar with changing needs

and requirements. The emerging trends in the social transformation process determine the

hierarchy of needs.

USERS OF CITI BANK

The users/customers continue a place of outstanding significance. The line of services, the

placing and development of services, the offering of services, the pricing strategies or the

interests charged for the services made available and the promotional strategies depend

substantially upon the nature and type of users using the services of an organization.

TYPES OF USERS:

General Users: Persons having an account in the bank and using the banking facilities at the

terms and conditions fixed by a bank.

Industrial Users: The industrialists, entrepreneurs having an account in the bank and using the

credit facilities and other services for the establishment and the expansion of their business.

Prospects: It is necessary to clarify the term ‘Prospects!’ The general industrial prospects do

not use banking services at present but they have the potential to become a costumer if

induced or motivated in a right fashion.

CUSTOMER REQUIREMENTS & CUSTOMER EXPECTATIONS

Accounts & Deposits Banking should be effortless. With CITI BANK Bank, the efforts are

rewarding. No matter what a customer's need and occupational status, we have a range of

solutions that are second to none.

Whether you're employed in a company and need a simple Savings account or run your own

business and require a robust banking partner, CITI BANK not only has the perfect solution

for you, but also can recommend products that can augment your planning for the future

Loans Haven't you occasionally dreamt of buying a PC , a car of your choice or even

travelling abroad? Your dreams are now within your reach. Whatever your need, we offer an

entire range of loan products.

Cards Our range of Cards helps you meet your financial objectives. So whether you are

looking to add to your buying power, conducting cashless shopping, or budgeting your

expenditure, you will find a card that suits you

Investments & Insurance When you bank with us, we ensure your money is not just in safe

hands; it also works to your advantage. We help you invest wisely through our financial and

investment services. Profit from our expertise.

Forex and Trade Services Are you a frequent flyer for business or often holiday abroad? Are

you an importer/exporter of foreign and Indian goods? you need to deal in foreign currency

and keep tabs on exchange rates every now and then, transfer monies to India, make

payments etc., CITI BANK Bank has a range of products and services that you can choose

from to transact smoothly, efficiently and in a timely manner. We offer the following Foreign

Exchange Products and Services.

Payment Services With CITI BANK Bank's payment services, you can bid goodbye to

queues and paper work. Our range of payment options make it easy for you to pay 4for a

variety of utilities and services.

Pricing for services

Value pricing: This type of pricing is mainly done by banks having unique or different products or

schemes. They usually charge a combination of high and low prices depending on the customer

loyalty as well as the products. This type of pricing strategy is usually coupled with promotion

programmes.

Cost plus pricing: In cost plus pricing a detailed analysis of cost structure of various bank

products and services is done.

Going rate pricing: The most pricing technique is going rate pricing. In going rate pricing the

banks bases its price largely depending on the competitor’s prices. The banks however have to stay

within the RBI directives and compete. The banks may charge higher or lower than their

competitor

Market oriented approach: This indicates what the market can bear or accept as in case of a

corporate client who may not be price sensitive as against an individual client.

Competitive based pricing: In competitive based pricing, the price is decided on the competitor’s

price.

Gaps model of Service

Integrated marketing communications

Integrated Marketing Communications is a term used to describe a holistic approach to

marketing communication. It aims to ensure consistency of message and the complementary

use of media. The concept includes online and offline marketing channels. Online marketing

channels include any e-marketing campaigns or programs, from search engine optimization

(SEO), pay-per-click, affiliate, email, banner to latest web related channels for webinar, blog,

micro-blogging, RSS, podcast, and Internet TV. Offline marketing channels are traditional

print (newspaper, magazine), mail order, public relations, industry relations, billboard, radio,

and television. A company develops its integrated marketing communication programme

using all the elements of the marketing mix (product, price, place, and promotion).

Integrated marketing communication is integration of all marketing tools, approaches, and

resources within a company which maximizes impact on consumer mind and which results

into maximum profit at minimum cost. Generally marketing starts from "Marketing Mix".

Promotion is one element of Marketing Mix. Promotional activities include Advertising(by

using different medium), sales promotion (sales and trades promotion), and personal selling

activities. It also includes internet marketing, sponsorship marketing, direct marketing,

database marketing and public relations. And integration of all these promotional tools along

with other components of marketing mix to gain edge over competitor is called Integrated

Marketing Communication.

Using outside-in thinking, Integrated Marketing Communications is a data-driven approach

that focuses on identifying consumer insights and developing a strategy with the right (online

and offline combination) channels to forge a stronger brand-consumer relationship. This

involves knowing the right touch points to use to reach consumers and understanding how

and where they consume different types of media. Regression analysis and customer lifetime

value are key data elements in this approach.

Integrated Marketing Communications of CITI BANK include

• Advertising

• Sales Promotion

• Public Relations

Service Blueprint

Service blueprint is a picture or map that accurately portrays the service system so

that different people involved in providing it can understand and deal with it

objectively regardless of their individual point of view .

Particularly useful at design and redesign stages of service development.

It provides a way to break the service into logical components and to depict the steps

or tasks in the processes, the means by which they are executed and evidence of the

service as consumer experiences it.

Blueprint components

Basic components of Service Blueprint are:

Customer actions

“Onstage” contact employee actions

“Backstage” contact employee actions

Support processes

Service blue print of CITI BANK

Customer actions: it includes steps, choices, activities and interactions that customer

performs in the process of purchasing, consuming and evaluating the service

Onstage employee actions: steps and activities that the contact employee performs

that are visible to the customer.

Backstage employee actions: steps and activities that occur behind the scene to

support onstage activities.

Support processes : covers the internal services, steps and interactions that take place

to support the contact employees in delivering the service.

MANAGING WAITING LINES

Waiting in lines is a part of our everyday life. Waiting in lines may be due to overcrowded,

overfilling or due to congestion. Any time there is more customer demand for a service than

can be provided, a waiting line forms. We wait in lines at the movie theater, at the bank for a

teller, at a grocery store. Wait time is depends on the number of people waiting before you,

the number of servers serving line, and the amount of service time for each individual

customer. Customers can be either humans or an object such as customer orders to be

process, a machine waiting for repair.CITI BANK has manage there waiting lines an

maintain their functional areas very well. When contacted, CITI BANK spokesperson said

the bank had got SEBI's approval for investment banking operation a couple of weeks ago,

but refused to divulge further details. On the other hand, as we shall see, managers of CITI

BANK primarily reduce waiting times by increasing capacity, which is itself quite expensive

and will reduce profit. Finding a waiting time that customers find acceptable while keeping

utilization reasonably high is thus of critical operational importance but relatively unintuitive,

for it turns out that average waiting times can be quite long even when capacity is

significantly greater than demand.

CUSTOMER SERVICE

We at CITI BANK Standard Life are committed to maintaining the highest level of customer

service. Hence we have tried to provide you with all the information you may want to seek

regarding procedures such as paying your premium, various policy servicing options,

processing a claim and so on.

This section is designed to give you information that you may require incase you wish to

make changes in Personal details or Policy details in your existing policy. The changes that

you can avail of are:

Change in personal details

Change in policy benefits

Others such as loss of policy document, policy cancellation in the Free Look.

KNOWLEDGE CENTRE FOR CUSTOMERS

Our Knowledge Centre will help you understand the basics of insurance and help you make

an informed decision about buying a policy. It includes details on insurance concepts, helps

you analyze plans for your various needs and understand the insurance jargon that you may

INCREMENTAL CONCERNS ON CREDIT QUALITY

Some mutual fund schemes had invested in real estate entities in 2007-08 and the first half of

2008-09 when the credit ratings of these underlying entities were higher, but subsequently

there was a significant deterioration in the credit quality for most of them. However, the

credit-quality ratings of most of the schemes continue at the same levels (highest credit

quality) as the proportion of such weak exposures has been low in relation to the schemes

AUM. Till date ICRA has revised the ratings on 3 mutual fund schemes on account of

relatively higher exposure to this sector. ICRA continues to closely monitor all these schemes

for any recovery of the dues from the real estate exposures. Over the last few months, the

absolute exposure to the real estate segment and lower rated entities has been declining while

the overall AUM has been rising with the incremental investments—largely in Government

Securities (G-Secs) and highly rated Banks—supporting the overall credit quality of the

ICRA-rated schemes.

REFRENCES

http://www.thehindubusinessline.com/iw/2010/05/09/stories/2010050950881100.htm

http://www.valuenotes.com/krc/may2101.asp?ArtCd=27218&Cat=C&Id=357

http://www.managementparadise.com/forums/banking-insurance-final-100-marks-

projects/45946-marketing-services-gap-model-applied.html

http://www.citi bankinsurance.com/KnowledgeCenter/KnowledgeCentre.aspx

http://www.naukrihub.com/india/banking-insurance/top-companies/CITI BANK-

bank.html

http://www.citi bankinsurance.com/customerservices/CSPolicyServicing.aspx

http://www.citibankinsurance.com/customerservices/customerservice.aspx

http://www.bignerds.com/papers/11115/Gap-Analysis-Intersect-Investments/

http://www.google.co.in/#hl=en&q=MANAGING+waiting+lines+in+CITI

BANK&aq=f&aqi=&aql=&oq=&gs_rfai=&fp=7b01c8d9f3b3c6aa

http://www.mccombs.utexas.edu/faculty/man/andersone/courses/ops_core_course/

q_note.pdf