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Corporate Edition

showcase

India's Best Marketed Brands

Methodology:
How we did it...

Indian Council for Market Research (ICMR) undertook a research on “India’s Best Marketed Banks” on behalf of the magazine 4Ps Business & Marketing. The banks were categorised in 3 categories, namely PSBs (Public Sector Banks), Private (Indian) Banks and Foreign Banks; and the initial list of banks was prepared.

The survey was conducted in two phases:

First phase: In the initial phase, ICMR conducted a survey amongst 5,000 respondents. The 3 broad parameters considered for the survey were Brand Awareness, Brand Recall and Brand perception in 5 cities (4 metros and Bengaluru). Based on the frequency of the responses, the top 5 banks were short listed in each category (PSU, Private and Foreign Banks).

Second phase: In the second phase of the survey, the top 5 banks in each category were further scrutinised based on the parameters of Promptness in services, Consumer friendliness and Reach of the bank-network (in terms of services such as number of branches, ATMs et al). The ICMR survey was conducted in 5 cities of India (Delhi, Mumbai, Kolkata, Chennai and Bengaluru) with a sample size of 2,000 respondents. Each of the respondents was asked to rate the banks on a scale of 1-10. A structured questionnaire was used in the random sample technique. The respondents chosen were primarily aged between 35-55 years and were holding bank accounts of respective banks for at least 2 years. Both males and females were contacted for the survey in a homogenous ratio.

The score under each parameter was then consolidated and the mean score was calculated. Based on the overall mean score of all parameters, the final list for each of the categories was prepared.