Bank of India Marketing Mix

Posted in Services, Total Reads: 876

Marketing Mix of Bank of India analyses the brand/company which covers 4Ps (Product, Price, Place, Promotion) and explains the Bank of India marketing strategy. The article elaborates the pricing, advertising & distribution strategies used by the company.

Let us start the Bank of India Marketing Mix:


Bank of India is one of the leading state owned banks in India. Bank of India provides different products & services in its marketing mix consisting of corporate, rural, MSME, retail, NRI and Cards/ATM services. The detailed services are described below:

1. Corporate – Cash management services, project, finance and syndicate services, loans – bullion banking, etc are provided by Bank of India.

2. Rural –

a. Cards – Bank of India promotes kisan credit card, BOI Shatabdi Krishi Vikas Card, Kisan Samadhan card, Start Bhumiheen Kisan Card

b. Services – agri clinics, cold storage, composit cash credit, crop finance, farm mechanisation, financing for draught animals and carts, land development, minor irrigation, poultry development, purchase of land, rural godowns, dairy development, financing against pledge of warehouse receipt, all-purpose term loan, solar pump set, tatkal loan, gold loan, KCC

c. financial inclusion – PMJDY, financial inclusion

3. MSME – facilities for borrower of SME, revival and rehabilitation of MSMEs policy frameworks, MSME application status

4. Retail products of Bank of India –

a. Deposits – savings, salary, current, term, tax saving

b. Loans – home loan, education loan, vehicle loan, private loan, holiday loan, etc

c. CASA term insurance – CASA term insurance, SB insurance

d. Online share trading and MITC

5. NRI – deposit accounts (savings, current, term deposit), loan products (housing loan, overdraft against securities, FCNR Deposits), investment products (insurance, mutual fund, portfolio management service), ancillary services (online banking, IT return, credit card through bill desk and NEFT), remitting money to India, interest rates on deposits.

6. Cards –Debit card , Credit card, Prepaid cards, ATM

Image: company website


Bank of India follows competitive pricing in its marketing mix but since it is a nationalised bank, it is highly regulated by government. Bank of India clearly understands customer’s mind set from a local and global perspective and moulds its value based services accordingly. It clearly considers the present and future economic changes to modify each policy. The rates are regulated by RBI.


Bank of India is present in 22 different foreign countries. It also has 5 subsidiaries 5 representative offices and 1 joint venture in the following areas – London, Hong Kong, Tokyo, Paris, New Jersey, New York and Singapore. Globally Bank of India has its presence in Belgium, Botswana, Channel Islands, Cambodia, Dubai, France, Hong Kong, Indonesia, Japan, Kenya, New Zealand, Peoples Republic of China, Socialist Republic of Vietnam, Singapore, US, UK, West Indies, South Africa, Tanzania and Uganda.


Bank of India has always promoted its brand through social and digital media apart from newspapers, billboards, magazine ads, sponsorships, etc. Through various CSR activities Bank of India works for the betterment of the society as a whole specially – customers, employees, shareholders, communities and environment through all possible means.

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


Bank of India has a well-defined organisation structure which involves people from good B schools and reputed organisation experience. The experience which the people had in previous companies must have helped the bank to progress and come up with practical solutions in every possible situation or business crisis. Currently Shri Melwyn O. Rego is the CEO of Bank of India and he is an alumnus of SIBM, Pune (Batch of 1981).

Physical Evidence:

Bank of India’s biggest physical evidence is its offices and branches. Bank of India provides notepads, stationary, etc. to its employees with the company’s name printed on it. It does not supply any other kind of similar things to customers.


The Bank of India services rendered to the customers are well organised and planned. There are different areas subdivided into the functional area groups and they cater the needs of customer’s need accordingly. Similarly, the website is also designed on the same lines and the aesthetics of the website are in line with the objectives and goals of the bank. Hence, this concludes the marketing mix of Bank of India.

About Bank of India:

Bank of India is one of the oldest banks in India founded back in 1906 in Mumbai to cater all sections and communities of the societies by some eminent businessmen of those times. The list includes Ratanjee Dadabhoy Tata (father of Mr J.R.D. Tata), Sir Sasoon J David (contributed partially in the construction of Gateway of India), Sir Cowasjee Jehangir, J. Cowasjee Jehangir, Sir Fredrick leighcroft, Gordhandas Khattau, Ebrahim Noordin, Lalubhai Samaldas, Ramnarain Hurnundrai, Jenarrrayen Dani, Khetsety Khiasey. The bank was a complete private bank until 1969 when it was nationalised by the Indian government. The Bank of India is one of the premier nationalised banks in the country. Currently the bank has 60 international branches and 5100 domestic branches. It employees approximately 45000 employees as of 31st January, 2017. Now, the bank is a public sector bank owned by government of India and traded under BSE and NSE. Bank of India provides banking and financial services in these categories - commercial banking, retail banking, private banking, asset management, mortgages, credit cards, etc. The total assets are worth $91 billion USD, total equity worth $120 million USD and a capital ratio of 12%.


Browse 4Ps Analysis of more brands and companies similar to Bank of India Marketing Mix. The Marketing Mix section covers 4Ps and 7Ps of more than 300 brands in 2 categories.

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The names and other brand information used in the Marketing Mix section are properties of their respective companies. The companies are not associated with MBASkool in any way. The brand names are used purely for educational/academic purpose only.

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