Indian firms are highly predominant in engaging themselves in socially responsible acts. There are many reasons; for the attracting more and more customers; for creating a name for themselves; for differentiating themselves from competitors and many more. However, these firms benefit the society in due course. The Indian banking sector of late is taking immense steps to act in a socially responsible manner. Using content analysis, this study endeavours to find the intent of such activities undertaken by banks. The study reveals that the banking sector has taken steps to address the most pressing issues in the Indian society.
Societal Marketing and Corporate Social Responsibility (CSR) have gained immense attention in the last few decades from researchers as well as practitioners. Companies today behave in a socially responsible manner. Some companies undertake such activities for statutory reasons, while there are businesses which try to meet customers’ demands related to their responsibilities (Verstegen, 1996). Some companies even practice societal marketing with an intention of retaining their customers for a much longer period. These companies try to create trust among their customers by implementing such activities. This can be related to the changing demands with the changing times. During the sixties, a product could be differentiated from others on the base of its instrumental value; while in the eighties it was the expressive value that made all the difference (Heyden, et al. 2004). As stated by Pine et al., (1998) “the business could effectively distinguish itself from competitors by way of creating unique experiences that form the core of the product offering. Such experiences should be memorable, capable of taking different forms and should always be consistent with the sort of business and products of the offerings”.
