Good product development and portfolio management capabilities.
This plan should be launched in two areas in the first phase to test its performance. A brief outline for the performance evaluation program is also given. The intention is to gauge outcomes and make timely alignments in the Marketing Plan through periodic performance evaluations.
Offering banking services to micro enterprises is benefiting the Pakistani economy through reducing poverty, increasing household incomes and improving standards of living for poor people in the country.
|Addosser Microfinance Bank||Main Responsibilities Maintain and develop corporate strategy and support the executive management through the strategic planning process.|
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|Microfinance Business Plan||It has an ownership group composed of a select number of Nigerian banks and international investors.|
Microfinance Banks offer the services of small loans, current and saving accounts, specially designed to cater the needs of micro businesses. Micro enterprise segment was previously ignored by traditional businesses, including the commercial banks.
Micro enterprises cannot offer collaterals, which made commercial bankers uncomfortable in offering loans to them. Furthermore, the small size of the individual loans required by micro enterprises made it appear less attractive for commercial banks to cater this segment.
Among the others benefits, better return on micro loans in comparison to the large loans is a key attraction in serving this segment. Micro enterprise segment has also attracted attention due to the sheer size of this market.
The challenge A Microfinance Bank targets people who are unfamiliar with the formal banking service as most of them have never availed them before. The target population lacks general awareness on banking services and the benefits that it is offered to them.
The key benefits of using banking services against the traditional options are that bank lending ,s cheaper and the savings at the bank are safer and conflicts free.
The precise purpose of this Marketing Plan is to reach out to micro enterprises by using creative means and increase awareness on Microfinance Bank services and its benefits. This Plan also recommends providing better access of services to micro enterprises.
Critical success factors Critical success factors are the determining elements in the success of a plan or a project. It is important to keep a check on following factors to maximize positive outcomes and achieve the objectives of the Marketing Plan: Simple and easy to understand service offerings and communication materials are crucial in promoting banking services among micro enterprises.
High performance of HR involved in marketing functions: Screening, engaging, training and high performance of HR involved in the marketing function are crucial factors in the success of the Marketing Plan. Large and well placed branch network: Ensuring convenient reach to a Microfinance Bank by building a bigger network of well placed branches in targeted clusters.
Lending and savings both should increase when banking services are available to micro entrepreneurs in their convenient reach.
Target customer profile and characteristics The target market constitutes of poor business people living in urban and semi-urban localities of Pakistan. Micro entrepreneurs own small retailing, manufacturing or service businesses. A small grocery store owner in a poor neighborhood and a woman who process pickles to sell in the local market are examples of micro enterprises that Microfinance Bank caters too.
Micro entrepreneurs seek small loans of Rs. Micro enterprises are simple businesses that lack the sophistication of large companies. Most of the micro enterprises are labor intensive businesses, where the owner specializes in skills central to their offerings.
These businesses are concentrated around the owners and their family members, who are trained to assist in the work.
The education level is generally low but most of them can read the simple Urdu language due to training in the reading Quran. Even those who are completely uneducated have access to people who can read Urdu for them. In many cases, owners can understand, read and speak Urdu along with knowledge of at least one other regional language.
Knowledge of the English language is quite rare among the target population. With regards to media consumption, people in the target population watch movie channels of local cable operators besides sports, entertainment and news channels. They also read Urdu language newspapers. Media consumption varies depending on gender, age and localities.
Women watch entertainment channels including local films and drama. Men are often interested in local films, news and sports channels. Low cost Urdu newspapers are read by men of middle and older age. The media is sometimes consumed at work but mostly in the evening with the family.Strategic Plan: What Is It?
A Strategic Plan will be used to outline the purpose of Create Strategic Plan · Download PDF Format · Highly Professional · 28,, Documents MadeTypes: Purchase Order, Cohabitation Form, Offer Letter, Quit Claim Deed.
The microfinance banks are licensed by the Central Bank of Nigeria (CBN), to conduct microfinance operations such as mobilizing 2 micro-savings and deposits from the public, extending credit and other financial services to.
Determining Sustainable Strategies for Directors of Microfinance Banks in Nigeria defeating the essence of the establishments (Florin & Carmen, ).
The microfinance bank sector in Nigeria began with high hopes of eradicating poverty, but the misconception as to government support of this sector Grameen bank . This study covers the entire review of micro finance as a strategy for poverty reduction in Nigeria using monarch micro finance Institution as the basis for this study.
Strategic Business Planning for Market -led Financial Institutions Wright et al. MicroSave - Market-led solutions for financial services Strategic Business Planning for Market -led Financial Institutions Wright et al.
of developing a strategic business plan in . A 9% per annum rate of growth of Gross Democratic Party (GDP) was assumed for the plan period and the total consumed and capacity invested was to be N30 Billions, the plan strategy was to utilize the country’s resources to develop the production capacity of the economy.
The plan was received up wards in (Ojo ).