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Management
The IUP Journal of Marketing Management
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Financial services could enable the poor to leverage their initiative, enhancing the process of building income, assets and economic security which is necessary for inclusive economic growth. Though microfinance offers a promising institutional structure in India to provide access to credit to the poor, the scale of problems need to be resolved to reach its benefits to a vast majority.

The first paper of this issue, “Marketing Strategies and Social Performance Outcomes: A Field Study on MFI Clients”, by Priyanka Jayashankar and Robert V Goedegebuure, focuses on the relationship between marketing strategy elements and the social performance of Microfinance Institutions (MFIs). The MFI clients’ perceptions of marketing strategy elements and the socio-economic outcomes of microfinance-based interventions were factored into the study. In this study, the authors determined to what extent MFIs’ marketing strategies have impacted social performance. Necessary inferences were drawn from the findings to distinguish between marketing strategies, which have a stronger impact on specific socio-economic outcomes and those strategies, which have a marginal impact.

The second paper, “A Quantitative Assessment of Materialistic Value and Its Relationship with Consumer Behavior in Indian Culture”, by Manit Mishra and B B Mishra, is aimed at attaining a better understanding of the consumer value of materialism. Two of the significant works on empirical manifestation of the abstract concept of materialism are those by Belk (1984) and Richins and Dawson (1992). The study focused on two objectives—first, assessment of construct validity of the Richins and Dawson (1992) scale of materialism and second, examination of relationship with consumer behavior parameters of consumption innovativeness and attitude towards television advertising. This study revealed that the Richins and Dawson (1992) scale of materialism exhibits construct validity—high reliability, convergent validity and discriminant validity. Further, it states that Indian consumers having greater materialistic tendencies exhibit higher consumption innovativeness and display a positive attitude towards television advertising.

Third paper, “Understanding Users of Mobile Services in Rural Area: A Case of Bishalkhinda Village in Odisha”, by Ashish Dash and Sukesh Kumar, attempts to understand the factors affecting the choice of mobile service providers. It estimates the price and income elasticity of demand for mobile usage of rural subscribers by using primary data collected from Bishalkhinda Panchayat of Sambalpur district in Odisha, India. India. The results of this study have implications for formulation of policies relating to provisioning of telecom services in rural India.

The final paper, “Guest Delight: Its Significance in the Hotel Industry”, by Sinmoy Goswami and Mrinmoy K Sarma, aims to establish the existence of guest delight and thereby provides a solution for maintenance of its constancy in hotels. This study revealed that various parameters like food and beverage quality, welcoming atmosphere, etc., are related to pleasant surprises of these guests in the hospitality industry. Their pleasant surprises are linked to their level of excitement which is related to their positive feelings.

-- B Shafiulla
Consulting Editor
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Automated Teller Machines (ATMs): The Changing Face of Banking in India

Bank Management
Information and communication technology has changed the way in which banks provide services to its customers. These days the customers are able to perform their routine banking transactions without even entering the bank premises. ATM is one such development in recent years, which provides remote banking services all over the world, including India. This paper analyzes the development of this self-service banking in India based on the secondary data.

The Information and Communication Technology (ICT) is playing a very important role in the progress and advancement in almost all walks of life. The deregulated environment has provided an opportunity to restructure the means and methods of delivery of services in many areas, including the banking sector. The ICT has been a focused issue in the past two decades in Indian banking. In fact, ICTs are enabling the banks to change the way in which they are functioning. Improved customer service has become very important for the very survival and growth of banking sector in the reforms era. The technological advancements, deregulations, and intense competition due to the entry of private sector and foreign banks have altered the face of banking from one of mere intermediation to one of provider of quick, efficient and customer-friendly services. With the introduction and adoption of ICT in the banking sector, the customers are fast moving away from the traditional branch banking system to the convenient and comfort of virtual banking. The most important virtual banking services are phone banking, mobile banking, Internet banking and ATM banking. These electronic channels have enhanced the delivery of banking services accurately and efficiently to the customers. The ATMs are an important part of a bank’s alternative channel to reach the customers, to showcase products and services and to create brand awareness. This is reflected in the increase in the number of ATMs all over the world. ATM is one of the most widely used remote banking services all over the world, including India. This paper analyzes the growth of ATMs of different bank groups in India.
International Scenario

If ATMs are largely available over geographically dispersed areas, the benefit from using an ATM will increase as customers will be able to access their bank accounts from any geographic location. This would imply that the value of an ATM network increases with the number of available ATM locations, and the value of a bank network to a customer will be determined in part by the final network size of the banking system. The statistical information on the growth of branches and ATM network in select countries.

Indian Scenario

The financial services industry in India has witnessed a phenomenal growth, diversification and specialization since the initiation of financial sector reforms in 1991. Greater customer orientation is the only way to retain customer loyalty and withstand competition in the liberalized world. In a market-driven strategy of development, customer preference is of paramount importance in any economy. Gone are the days when customers used to come to the doorsteps of banks. Now the banks are required to chase the customers; only those banks which are customercentric and extremely focused on the needs of their clients can succeed in their business today.

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Marketing Management

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