Cross- selling practices of public and private sector banks in Kerala

Abstract

Cross selling has become a popular sales and marketing practices in the financial service industry in particular, in the banking industry since it become one of the important source of revenue stream. Cross-selling refers to the sale of additional products and services by a bank to its existing customers. The concept of cross-selling is relatively new to Indian banking sector which gained popularity from the year 2000 onwards.To examine the extent of awareness level of customers about various cross-selling products and services. To find out the factors that motivated the customers to buy cross-selling products and services from their existing bank. To assess the perception of customers about cross-selling practices. To measure the satisfaction of customers about cross-selling practices. To analyse the perception of employees about cross-selling practices and to review the problems faced by the employees related to cross-selling practices.The study is descriptive in nature. The study was conducted among selected public (SBI, PNB) and private (ICICI Bank, HDFC Bank) sector banks in Kerala. The study based on both primary and secondary data. Primary data were collected from the customers who have availed at least any one of the selected cross-selling products and the bank employees who are engaged in cross-selling practices by using multi stage sampling technique. Structured questionnaires were used for data collection. Independent sample t- test, One way ANOVA, Weighted Average Score, Exploratory Factor Analysis (EFA) and Correlation were used for analyzing the data.The research report is presented in seven chapters. The first chapter is the introduction and deals with objectives and research methodology. The second chapter deals with the detailed review of literatures. The third chapter provides theoretical framework about cross-selling practices in Indian banking sector and a detailed explanation of the cross-selling practices of selected public and private sector banks and the cross-selling products and services of these banks. The fourth and fifth chapters present the analysis of cross-selling practices from the perspective of customers and employees. The sixth chapter presents the summary of the study, major findings and conclusions. The seventh chapter contains the recommendations and the scope for further research.