SBI Sms unhappy case study Essay

941 Words Aug 15th, 2014 4 Pages
Markets are ever evolving and keep getting competitive day by day, and the BFSI sector is no exception. With SBI being the current market leader, the challenges are more profound for them to retain their foothold. The entry of private players like ICICI, HDFC, and UTI added to the existing challenges faced by SBI. Private players have increased competition by offering attractive schemes and convenience, in sync with customers’ demand. With a boom in the IT and Telecom industry , using the messaging service as a means of communication would be highly cost effective and have a massive reach . Hence it is highly imperative to align with the market trend and meet customer expectations, in order
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The project was a huge success and SBI was ranked No 1 in Customer Satisfaction by a leading daily.
Having successfully implemented the project in Andhra Pradesh, covering 1100 branches involving 14 million customers, a question arises whether this model would succeed if implemented on a national scale, covering 12500 odd branches with a target base of 150 million customers.
Expansion of telecom sector and the rapidly growing young market segment in India, who are the prime users of mobile and retail banking, necessitate the urgent need to embrace the market trend and go ahead with the expansion of SMS Unhappy project. SBI with its brand image and credibility can consolidate its market position. Real time feedback, reliable appraisal system and a transparent mechanism are some of the benefits which SBI stands to get from the project. The pilot project’s roaring success adds value to the argument presented above. But on the flip side, keeping the big picture in mind, SBI would need to augment its
IT infrastructure and human resource pool to meet the demand. Unpredictable traffic of complaints, operational challenges, recruiting trained personnel are some of the factors that need to be taken into consideration. To overcome demographic and language differences would also be a challenge. SBI would need to be on the constant lookout for various strategies adopted by its competitors, so that it can adapt
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