Marketing Audit for ANZ Bank: Home Loans in Melbourne

Running head: ANZ BANK 0
Marketing and Management
ANZ Bank

ANZ BANK 1
Table of Contents
Introduction................................................................................................................................2
Company................................................................................................................................2
Product/Service......................................................................................................................2
Consumer...............................................................................................................................3
Industry analysis and market trends...........................................................................................3
Growth....................................................................................................................................3
Profitability............................................................................................................................4
Macro Environment (PESTLE)..............................................................................................4
Competitors Analysis.................................................................................................................7
ANZ Bank..............................................................................................................................7
Commonwealth Bank.............................................................................................................8
Segmentation Analysis...............................................................................................................8
Major Market Segments.........................................................................................................8
Primary and Secondary Target Market..................................................................................8
Involvement of ANZ Bank in Primary Segment........................................................................9
Perceptual Map.........................................................................................................................10
Positioning Statement...........................................................................................................11
Conclusion................................................................................................................................12
References................................................................................................................................13
List of Figures
Figure 1: ANZ Bank's Logo.......................................................................................................2
Figure 2: Growth in Home Loans..............................................................................................4
Figure 3: Growth in Australian Service Industry.......................................................................6
Figure 4: Positioning Map of ANZ Bank.................................................................................10

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Introduction
Marketing management is referred to a process in which management formulate plans
and strategies in order to perform various functions regarding products, services, sales,
promotion and advertisement to ensure that they reach their targeted market (Pride, Ferrell,
Lukas, Schembri & Niininen, 2018). This report will focus on conducting a marketing audit
for ANZ Bank. This report will pick a single location, i.e., 230 Swanston St, Melbourne VIC,
Australia and discuss the product of ANZ Bank, i.e., home loans. The report will analyse the
major and secondary market for the products and evaluate the level of involvement and
decision-making of ANZ Bank. Further, this report will analyse the competitors of ANZ
Bank and provide a perceptual map in relation to the company’s competitors.
Company
Australia and New Zealand Banking Group Limited is the third largest bank in
Australia in terms of market capitalisation. It was founded in 1835, and its headquarters is
situated in 833, Collins Street, Melbourne, Australia (ANZ, 2018a). The corporation has
hired more than 50,000 employees worldwide. The competitors of ANZ Bank include
Commonwealth Bank, National Australia Bank (NAB) and Westpac Bank. It is a publicly
listed corporation, and its shares are listed in both Australia and New Zealand’s stock
exchange.
Figure 1: ANZ Bank's Logo
(Source: ANZ, 2018a)
Product/Service
The company operates in banking and financial services industry, and it offers its
services in more than 34 markets (ANZ, 2018a). The products and services offered by the
firm include business accounts, credit cards, loans and finance, online banking, insurance and

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others. The corporation offers home loans on interest between 3.99 percent p.a. and 5.87
percent p.a. (ANZ, 2018b). ANZ Bank offers a wide variety and package deals of home loans
to its customers. However, its interest rates are moderate to high, and some products have
high fees.
Consumer
Customers are the primary focus of the company, and it focuses on creating a strong
and lasting relationship with them by improving its services and overall customer experience.
The corporation offers its services to customers in more than 34 markets across the world,
and it builds trust by delivering its services in a responsible manner and accordance with the
highest standards of integrity (ANZ, 2018a). In Melbourne, the primary customers for home
loans include low to medium earning people who want to buy a house in or near Melbourne.
Industry analysis and market trends
ANZ Bank operates in banking and financial services industry, and it focuses on
expanding its business in new markets across the world. The company is known for offering
quality services and positive experience to its customers.
Growth
Australia’s sophisticated economy plays a crucial part in the fast-growing
development of banking and financial service sector. The industry is proliferating because of
a stable economy in Australia which assists in increasing new business opportunities for
banking corporations. According to the study of Deloitte, the Reserve Bank reported a growth
of 5.3 percent in October 2016 for the banking industry. The overall mortgage balance in the
industry also grew by 6.4 percent in 12 months from September and the personal credit
balance reduced by 1.1 percent in 12 months from October 2016 (Lumsden, 2017). The
Reserve Bank has not changed the interest rate for home loans keeping it as low as 1.5
percent which is positive for banks since more people purchase home loans at a low rate.
However, many experts have suggested that the rates might increase in 2018 which can
negatively affect the home loans market (Robertson, 2017). The market for home loans has
shown a continuous growth in previous years which showed that it is profitable for the
banking firms.