Punjab National Bank is envisaging a transformation in its sales and marketing functions and it has sought the services of consulting firms to advise it on this project. The bank wants to offer world-class sales and marketing services for the benefit of its customers and the selected consultant is expected to help it devise a methodology and processes. The bank aims to bring in a mechanism to improve customer retention especially among the elite HNI segments, increase new customer acquisition and increase cross selling/ up selling to existing customers. The selected consultant would assist / guide the bank to work broadly on suggesting clear differentiators between marketing and sales teams; redesign approach and define customer segmentation; conduct detailed customer segmentation and tiering for existing customer base; and redefine the segment and strategy / value proposition for key customer segments. The bank expects the re-designed approach to rationalize and optimize jobs across the bank for greater focus on business performance.
