State Bank of India (SBI) Marketing Strategy & Marketing Mix (4Ps)

Published in Services category by MBA Skool Team

Marketing Strategy of State Bank of India (SBI) analyzes the brand with the marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion). These business strategies, based on State Bank of India (SBI) marketing mix, help the brand succeed in the market. Let us start the State Bank of India (SBI) Marketing Strategy & Mix to understand its product, pricing, advertising & distribution strategies:

State Bank of India (SBI) Product Strategy:

The product strategy and mix in State Bank of India (SBI) marketing strategy can be explained as follows:

State Bank of India offers services in various sectors such as personal banking, rural banking, corporate banking, International Banking. Rural & Agricultural Banking has many services such as Kisan Credit Card, Farm Mechanization loan, Poultry Loan, Gold Loan, Fisheries Loan, Dairy Loan, Micro credit, Pradhan Mantri JanDhan Yojana, Direct Benefit transport. Personal Banking by SBI includes deposits such as Savings account, CC account, Salary account, Fixed deposit, Recurring deposit. SBI Loans are available such as Gold loans, car loans, education loan, personal loans, home loans, etc. SBI gives corporate services such as Corporate account groups, mid-corporate account groups, Project finance, etc.

International banking of SBI consists of wholesale banking, retail, banking, Global trade service, correspondent banking, treasury management. Other services offered are, Aadhaar seeding, ATM services, mobile banking, Internet banking, Cash deposit machines, Demat services, Invest Bonds, etc. This covers the product strategy in the marketing mix of State Bank of India.

Image: Wikimedia

State Bank of India (SBI) Price/Pricing Strategy:

Below is the pricing strategy in State Bank of India (SBI) marketing strategy:

State Bank of India has a pricing strategy based on competition, RBI guidelines and customer demand. The marketing mix pricing strategy governs the operations of SBI bank as follows.

Services provided by SBI follow the guidelines provided by Reserve Bank of India. SBI competitively prices its services because Banking sector has become highly competitive. Government policies heavily affect prices of the services provided by the bank. Since loan is highly risky pricing also depends on the total to which the assets and liabilities amount to. 

Read more about State Bank of India (SBI)

    State Bank of India (SBI) Place & Distribution Strategy:

    Following is the distribution strategy in the State Bank of India (SBI) marketing mix:

    SBI operates in over 18 thousand branches in India. Majority of its banks are in rural areas since it is a public sector bank and aims to serve the whole of India. SBI is present in 36 countries with over 190 branches overseas. SBI also provides its services through mobile banking and Internet banking. It also has cash deposit stations and a huge network of ATMs.

    It also has its presence through associate banks such as State bank of Hyderabad, State Bank of Patiala, State Bank of Mysore, State Bank of Travancore, State Bank of Bikaner & Jaipur, Bhartiya Mahila Bank, etc.

    State Bank of India (SBI) Promotion & Advertising Strategy:

    The promotional and advertising strategy in the State Bank of India (SBI) marketing strategy is as follows:

    State Bank of India (SBI) promotes itself through various media such as Print media and audio visual media such as Radios, Hoardings, Newspaper advertisements, TV-commercials, movies, etc. Its tagline, ‘The Banker to every Indian’ turns out to be perfectly apt given its presence across India. SBI smartly conveys its policies through its advertisements. Recently, it has been adapting to the modern approach and devising its advertisements accordingly. Thereby, it has employed famous personality to reinforce the idea of trust and SBI in customers’ minds. Being affordable and present at almost every town, village and city has been its indirect promotion due to its increased presence.

    Since this is a service marketing brand, here are the other three Ps to make it the 7Ps marketing mix of State Bank of India (SBI).


    All the activities of SBI are governed by the RBI. It has to follow its regulations and principles. SBI follows standard formats like any other bank because it has to abide by the rules of RBI. Even though the documentation and forms are standardised, the bank has customized approach for every customer based on the customer needs. Customer involvement is ensured through ATMs where the employees are not present and only customers are involved in the process. For simplicity, the functions of the bank are carefully segregated based on their inter-connections.


    Every Indian is one or other way connected to the State Bank of India. The primary reason being, every bank is directly related to SBI. Hence, customers, employees, management, workers, everyone contributes to the prosperity and growth of the bank. Every worker and employee adds to the profitability of SBI bank.

    Physical Evidence:

    SBI has its physical evidence through websites. The Business cards, paperwork, brochures, furnishings are a source of physical evidence. Banks provide tangibles such as diaries, pens to employees. The passbooks, checkbooks also are a medium of physical evidence. Furnishings, financial reports, signage also reduce intangibility of the services. This covers the marketing mix for State Bank of India (SBI).

    About State Bank of India:

    Founded in 1802 as Bank of Calcutta it was later renamed as State bank of India after independence. This public sector banking and financial services company is a government owned corporation and generated revenue of US $41 billion in 2015. Employing more than 293,459 employees, SBI secured 232nd rank amongst world’s biggest corporation as listed in Fortune Global 500 list. State Bank of India has 18,000+ (as on 2016) branches in the country and conducted over 11,300 nationwide camps opening over 3 million accounts under Pradhan Mantri Jan Dhan Yojana. Among Indian banks, SBI has largest presence in foreign market spreading its network across 36 countries through 191 overseas offices which includes major cities like Moscow, Los Angeles, Tokyo, Sydney, Colombo and even in Cape Town. SBI has associations with few other banks which now are named as State Bank of Patiala, State Bank of Mysore etc.

    Its major competitors in private and corporate banking include ICICI Bank, HDFC Bank, Axis Bank etc. This India’s largest public sector bank it also the largest mortgage lender (home loans), even bigger than HDFC.

    This article has been researched & authored by the Content & Research Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.

    Browse marketing strategy and 4Ps analysis of more brands similar to State Bank of India (SBI). The Marketing Strategy & Mix section covers 4Ps and 7Ps of more than 800 brands in 2 categories.

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    The names and other brand information used in the Marketing Strategy & Mix section are properties of their respective companies. The companies are not associated with MBA Skool in any way.

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