Dena Bank Marketing Strategy & Marketing Mix (4Ps)

Published in Services category by MBA Skool Team

Here is the marketing strategy of Dena Bank which analyzes the brand with the marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion).

Dena Bank Product Strategy:

The product strategy and mix in Dena Bank marketing strategy can be explained as follows:

Dena Bank is one of the leading banks in India. Dena Bank has got provisions for wide range of services for its customers. Dena Bank’s products broadly get segmented across 5 segments namely deposits, loans, services, corporate banking, and priority & SME. All these are a part of the marketing mix product strategy of Dena Bank. Few to the popular schemes under the deposits include Dena Savings Accounts Scheme and Dena Samruddhi Deposit Scheme. Dena Bank’s loans schemes are very attractive to customers. Its Niwas housing finance scheme and Suvidha personal loan scheme to mention a few.

Dena Bank’s Sukanya Samriddhi Scheme has attracted a lot of purchases, particularly in the rural area. Corporate Banking schemes are primarily designed for educational institutes, building & developers, hospitals, hotels & restaurants and entertainment industry. Dena Bank have a specialized branch dedicated to corporate banking only. Under the small & medium enterprises, schemes such as krishak sathi scheme and kisan tatkal schemes are noteworthy. They offer services to all the SMEs like multi branch banking, phone banking and doorstep banking.

Image: company website

Dena Bank Price/Pricing Strategy:

Below is the pricing strategy in Dena Bank marketing strategy:

Dena Bank, like other banks in India, are regulated by the RBI. In the competitive financial sector, services make long term impact, thus customer satisfaction is their primary target which they try to achieve and maintain.

The lending rates hover around 7.3% per annum, this is similar to the other public sector banks, but the services are provided in all sectors across the country. Just like any other banking institution, Dena Bank’s pricing strategy is such that it is able to attract the large chunk of customers. They ensure that customers are satisfied with the services it provide. Differential pricing strategy, is what that is implemented by Dena Bank so as that it services reach deep down across all sections of the society, and that customers with different spending abilities are able to buy their products and services. This also helps them to gather and gain customers.

Read more about Dena Bank

Dena Bank Place & Distribution Strategy:

Following is the distribution strategy in the Dena Bank marketing mix:

Dena Bank has got its branches, ATMs etc spread across India, which shows its strong place strategy in its marketing mix. The operations of Dena Bank are concentrated mostly in India, particularly its intense in Western India. They attend to a huge customer base who tend to favour public offering and services unlike other private institutions. They have office setup across most of the states and union territories in India. Dena Bank offices are also present in distant rural areas. Keeping up the pace with technology, they also offer their services at virtual platform or app. They also do provide internet banking facilities which is their most friendly banking transaction facility. Dena Bank also provide ATM facilities which is also penetrated in far rural areas across India. The newly launched mobile banking app has made easy for them to provide services on real time basis.

It ensures that they are always connected with their customers and are able to serve them in the most efficient manner.

Dena Bank Promotion & Advertising Strategy:

The promotional and advertising strategy in the Dena Bank marketing strategy is as follows:

Dena Bank goes all out when it comes to advertisement and promotional activities. Press, electronic and outdoor media are their main promotional platforms. Dena Bank advertise on major national dailies particularly during festivals like Gudipawa. Dena Bank also use print media as a medium to publicize their upcoming schemes and products. Television advertisements keep running throughout the year. They project themselves as to be “most trusted bank” in India. Home Happiness Campaign had been launched recently on radio. Dena bank’s visibility increases as and when they come in support with the national initiatives launched by the national government. The Swachh Bharat Abhiyan by the central government is highly supported by Dena Bank, which increases their visibility across the masses. Putting up of hoardings in and around strategic locations is one of the promotional practice which they follow. Dena bank participates and sponsors many cultural and ethnic events across India, this makes them easily communicable to their customers and gain trust.

Since this is a service marketing brand, here are the other three Ps to make it the 7Ps marketing mix of Dena Bank.


Dena Bank is committed in providing seamless service across all customer bases. The central office controls the process it undertakes in daily manner. It follows strict rules and regulations while maintaining quality service to its customers. Dena Bank has a modular setup, which in turn modulates or caters to specific needs of its customers. Having provisions of Internet Banking facility, e-wallet makes customers integrated in the process of bank’s functions although they are not physically present. These being fully automatic makes customer involvement more intimate. Processing of important services is one of the important criteria which makes any bank famous. So, Dena Bank ensures speedy loan and other process so that customers don’t have to face any inconvenience, waiting for the same.


Dena Bank understands that in order to survive in the fierce competitive environment, it is very important to be able to be connected with the customers. In such a case, it is very important to have a highly competent employee base. They recruit quality graduates after they clear the cut offs in IBPS examination, which is considered a very difficult competitive exam to crack. Promotion of its employees is purely based on quality and competence. Such practice upholds the quality and employee standard in Dena Bank. Every employee adds value to the bank directly or indirectly. In these ways, Dena Bank is able to maintain quality standards of its products and services it provides. The total number of employees currently serves for Dena Bank is 13000+.

Physical Evidence:

Dena Bank has got a vast and varied physical evidence across all portions of India. Its presence can be found in brick and mortar bank offices, Automatic Teller Machines and Internet banking facilities. Dena Bank has a total of 1800+ branches, 1400+ ATMs in India, which is a huge number when comes in comparison with other Public Sector Banks. Yearly gifts which it supplies to its customers like calendar, pens, gift cards, are all tangible evidence of its physical presence. Hence, this gives an overview in the Dena Bank marketing mix.

About Dena Bank:

Dena Bank is a financial service provider, for services within the geographical boundaries of the Republic of India. It is owned by the Government of India. It is headquartered in Mumbai. It originally started as a private lending institution in the year 1938 by Devkaran Nanjee. It got nationalized in the year 1969 with 13 other banks as per the Banking Regulations Act of 1949. Dena Bank have been pioneer in many aspects, it has been able to achieve many distinctions over the years. It was the first to launch an ATM with has drive-in facilities. It is also the first bank to start credit card facilities in the villages of India.

It also has an office in London, which caters to the international services. Headed by Shri Ashwani Kumar, with capital reserves of ₹5545 crores, Dena Bank is a formidable player in the banking and financial services in India.

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.

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