Cross selling and up selling in banks ,read here banking awareness expected questions for upcoming NABARD ,sbi clerk ,GIC Exams soon .There are a few concepts related to the banking and financial institutions which the candidates will need to know. there are several banking examinations which are lined up like the RBI, IBPS exam and RRBs examination and questions from financial awareness is always asked in the examination. Candidates should focus on the financial knowledge which will help them to score at least 10 marks more in the written examination. Here are some f the details about the Cross Selling’s and Up Selling’s which candidates will need to know for the examination. Cross selling is generally the selling of products of the banks to the general customers and it is intended to increase towards the selling of the bank and it ultimately increases the business of the banks. The bank officials are trained for the cross selling of the products and customers who comes to the bank for some specific purpose are enticed with these products and they are sold those products. Some of the counters are meant for cross selling’s. One of the major and popular products of banks cross selling is credit card. Banks ensures the eligibility of the customers for the credit card and they sell the credit card to the existing customer. Now the non customers are also targeted towards selling of the credit card etc.
Difference between cross selling and up selling
UP Selling is also a technique used by the banks to increase the business and the asset base of the bank. All those customers and non customer which comes to the bank to buy any product are enticed to buy a product of higher quality/ value which benefits the bank. For example, a person visits the bank to have a credit card of values 10000. Then the bank officials may offer him the credit card for the value 20000 telling him the benefits of having more credit in the card. This helps banks to increase the asset base and business.
In the cross selling the existing customers are targeted for the selling of additional products of the bank while in the UP selling any customer can be sold the product of higher value. Both of these techniques are meant for the same purpose and candidates must have now understood the differences.
They have to clear with the financial awareness for their exams.