Evaluation of Service Marketing Mix & Service Marketing Triangle Of IFIC Bank Limited

Abstract

This internship report is based on Service Marketing Mix and Service Marketing Triangle of IFIC Bank Limited. As I am appointed there for three months in the Principal Branch, here I have obtained knowledge how the IFIC Bank provides services to their customers by the use of all elements of service marketing mix. This service marketing mix is basically mixed of 4‘ps’ of traditional marketing mix and extended 3’ps’. The extended three factors are people, process and physical evidence. People are customer, employee and other stakeholders of IFIC Bank. Process are considered as policy, systematic series of provide service, rules & regulations, framework, strategy of doing work. Finally physical evidence are all tangible elements we can see in the organization. This report also done on method of service marketing triangle and the three elements; external marketing, internal marketing and interactive marketing. Through service marketing triangle IFIC Bank interact with their customer, employee and other stakeholder efficiently. The right side arrow in this triangle indicate the relation between organization and customer that is called external marketing in which bank communicate with customer and provide service. The left side arrow is the internal marketing that means promotion of the company’s product/service and objective to the employee. Internal marketing conduct within the organization. The arrow (horizontal) below the triangle shows the marketing practice by the employee on individual customer. This report manifest a detailed information about the organization (bank), methodology that was chosen for this study for data collection process and types of data collected, brief overview of IFIC Bank Limited profile and Banking Industry perspective. I observed their activities in the general banking sector, credit department, retail division and collect some information about foreign exchange from the corporate division of credit department. Study is not complete without realistic details of the organization and real experience in a corporate field. Although I faced some limitation on doing this report, in sum I can say confidently that is I have a great experience of a corporate life and learned many things from the team of IFIC Bank Limited.