Promotion can be considered as one of the important strategies, promotion means that the set of activities that are done to communicate the product to the consumer. Even the activities that are done to explain about the product, service and brand to the user come under promotional activities. The important principle that is followed in promotion is AIDA principle first to create the attention/awareness of the users to the product then creating interest among them about the product. The third one is to create a desire to have the product and the last one is action where they would buy the product, here the promotional strategies are helping us to induce and attract the users to buy our product over the other competitors. Let us consider the case of Capitech Bank, they opened their doors for the customers in 2001, Capitech largely developed on micro-credit business, Capitech kept in mind their intention to open a proper bank and establish it in the platform serving microfinancing.
Capitech started as a micro-loan business with their only pr0duct being 30% interest on 30 day loans. This move helped Capitech getting supports to its strategical aim and they slowly built a foundation for the normal transactional bank. The reason to enter in to the transactional banking that Capitech has seen was that atleast