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Education Saving Scheme

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Submitted By preeyoruba
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Companies’ environment consists of forces and trends that shape opportunities and pose threats. Some of those factors cannot be changed or influenced by the company. This is the “macro environment” of the company. And the issues are “uncontrollable” factors to which, the company has to monitor and respond.

One of the factors is the Social-Cultural environment. The society shapes the way people think, evaluate, and behave. People unconsciously absorb a point of view from the society that helps them define and rationalize their relationships to themselves, to others, to organizations, to society, to nature and to the universe.

These things are “uncontrollable”. Marketers have to pay attention to these factors and adopt necessary changes accordingly. The company more successful to evaluate predicts and copes with the changes, will more likely to become a successful one.

Education savings scheme

Prime bank ltd. is one of the leading fully licensed commercial banks in Bangladesh. It has introduced a Savings Scheme entitled “Education Savings Scheme” in accordance with the principles of Islamic Sariah i.e., on the basis of profit and loss sharing. This scheme is a result of Prime Bank’s observing the ‘Social-Cultural’ environment and reacting accordingly.

The sides of social cultural environment the bank has fulfilled are mentioned below.

View of themselves

In the matter of “self-gratification”, people differ in how they seek to satisfy their inner self. Some people may want to have fun, others may seek self-realization. Because there are a whole lot of different types of people, there are different views of themselves. Marketers must recognize this fact and react accordingly.

The education savings scheme is for the parents who want their children to study and get more educated. According to prime bank,

The scheme provides a unique…...

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