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Collabria Financial Credit Cards - A Market Entry Strategy-Assignment 2: Marketing Plan

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Added on  2019-10-08

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This report entails the marketing plan of Collabria Financials with respect to its proposed launch of credit card services to the members of the credit unions in Canada. The marketing department has undertaken several strategies and programs in developing the marketing mix, along with the action programs and undertaken an evaluation of the financial impacts of the business to determine the feasibility of the new marketing strategy in the target segment of the consumers. Finally, the report concludes with the controls and contingency strategies that the management has formulated, keeping in mind any risks or uncertainties that might emerge at any time during the course of the business.

Collabria Financial Credit Cards - A Market Entry Strategy-Assignment 2: Marketing Plan

   Added on 2019-10-08

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Running Head: E-Commerce & MarketingCollabria Financial CreditCards - A Market EntryStrategy-Assignment 2:Marketing Plan
Collabria Financial Credit Cards - A Market Entry Strategy-Assignment 2: Marketing Plan_1
2E-Commerce & MarketingExecutive SummaryThis report entails the marketing plan of Collabria Financials with respect to its proposed launch of credit card services to the members of the credit unions in Canada. The marketing department has undertaken several strategies and programs in developing the marketing mix, along with the action programs and undertaken an evaluation of the financial impacts of the business to determine the feasibility of the new marketing strategy in the target segment of the consumers. Finally, the report concludes with the controls and contingency strategies that the management has formulated, keeping in mind any risks or uncertainties that might emergeat any time during the course of the business.
Collabria Financial Credit Cards - A Market Entry Strategy-Assignment 2: Marketing Plan_2
3E-Commerce & MarketingTable of ContentsExecutive Summary...................................................................................................................25.Marketing Strategy and Programs......................................................................................4Marketing Strategy.................................................................................................................4Marketing Programs...............................................................................................................4Product/Service..................................................................................................................4Pricing................................................................................................................................5Distribution System............................................................................................................5Marketing Communications...............................................................................................5People.................................................................................................................................6Process................................................................................................................................6Physical Evidence..............................................................................................................7Market Research.....................................................................................................................76.Action Program..................................................................................................................77.Financial Impact.................................................................................................................88.Controls and Contingency................................................................................................10Bibliography.............................................................................................................................12
Collabria Financial Credit Cards - A Market Entry Strategy-Assignment 2: Marketing Plan_3
4E-Commerce & Marketing5.Marketing Strategy and Programs Marketing Strategy The marketing strategy for the company will be designed in an effective way. The differentiated services will be offered to the credit union members in Canada through offeringcredit card facilities to the target segments which is not yet offered by any other competitors of the company. The main aim will be increasing the revenues by nearly 10-15% and the profitability by 5-7% in the coming first year. The differentiation strategy will be able to attract more customers by offering unique features in the services to the target customer base.The marketing strategies will be formulated keeping the aspects of corporate social responsibilities and ethical aspects. Long-Term sustainability will be the main focus of marketing strategies. The main objective of the marketing strategies will be to assess the needs of the target segment and to provide the services to meet those needs. The goals and objectives will be achieved with the help of effective marketing strategies. Marketing ProgramsThe marketing program of the company will consist of the major elements of the marketing mix. The seven ‘Ps’ of seven important factors such as product/service, pricing, promotion, place, people, process and physical evidence are discussed intricately in this section. These are the major areas of the marketing mix strategy which will enable the company to achieve its desired goals and objectives. These marketing programs will highlight the different marketing tools which the company will be using to make the marketing program successful. The marketing objectives can be achieved with the help of these important elements. The marketing mix will also guide the marketing decisions in the right path [ CITATION Ann187\l 1033 ].Product/ServiceThe company provides customized payment solutions to the credit unions in Canada. The company will offer credit card services to the same target segments. It will provide the services of credit cards to the target customers with more facilities than that of its competitors. The credit cards will have different credit limits depending on the credibility of the customers. There will be flexibilities in paying the bills of the credit card transactions. The minimum pay can also be customized as per the convenience of the customers. There will be mobile application compatible for both Android and Apple iOS. The mobile
Collabria Financial Credit Cards - A Market Entry Strategy-Assignment 2: Marketing Plan_4

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