Yafulla Insinghiyosh

FEASIBILITY OF STUDENT THEME BANKING AT RBC

Value Proposition:

For Customers: 

?    A unique opportunity for them to live their passion: RBC will act as an enabler in pursuing their passion.

?    Personalised Products: Solutions tailored to match the passions and interests of the customers.

?    Making events affordable: Access to Concerts, Exhibitions meetings etc. at the discounted rates. 

?    Socialising & Networking Opportunities: Since the themes are based on a common interest, theme banking would provide a platform for networking within similar interest groups. The interactive website will also be used for the same.

For RBC:

?    Encirclement Strategy:  Involves targeting several smaller untapped or underdeveloped segments in the market simultaneously. Surprise and delight the customer through product innovation. 

?    Cult following: Establishing long-term relationships by inculcating strong sense of belongingness within the customers. (This ensures their continuity with us after their student years)

?    First Mover Advantage: With ‘Theme Banking’ markets would be fragmented based on interests and the Bank would have the advantage for first entering into the most popular themes.

?     Touch points: Every time a client avails of a particular activity, the Brand image and Service superiority is reinforced. . Also customer intimacy with the bank increases due to these touch points

For Theme Partners: 

?    Enhancing the Brand Loyalty and the awareness of the ‘Theme Partners’

?    A new channel of distribution which will be revenue generating for them.

?    Ensuring certain volume/value of business to the partners even in the slack season.

Bottom Line Results:

Year    1    2    3    4    5

Student population in states where RBC is present (constant growth of 1%) [Millions]    12.21    12.33    12.46    12.58    12.71

Target market (36%) 1      4.40    4.44    4.48    4.53    4.57

Customers Converted...