ANZ Banking Group Marketing Communication Approaches - Analysis

This report examines the market communication approaches employed by the Australia and New Zealand Banking Group (ANZ). It identifies advertising, promotion, personal selling, public relations, and direct response as key strategies. ANZ utilizes mainstream media advertising, promotional offers, personalized financial consultations, community engagement, and direct response marketing via platforms like Facebook and search engine optimization. The report finds that ANZ has adopted integrated marketing communication to reach its target markets effectively. Recommendations suggest increased investment in direct response components to leverage the growing importance of online transactions and maintain a competitive edge in the future.

MARKET COMMUNICATION APPROACHES 1
The Market Communication
Approaches Used by the Australia and New Zealand Banking Group
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MARKET COMMUNICATION APPROACHES 2
Table of Contents
Introduction.................................................................................................................................................3
Objectives....................................................................................................................................................3
Methodology...............................................................................................................................................3
Information Analysis....................................................................................................................................4
Advertising...............................................................................................................................................5
Promotion................................................................................................................................................5
Personal Selling.......................................................................................................................................5
Public Relations.......................................................................................................................................5
Direct Response.......................................................................................................................................6
Findings.......................................................................................................................................................6
Recommendations.......................................................................................................................................7
Bibliography................................................................................................................................................8

MARKET COMMUNICATION APPROACHES 3
Introduction
In the current competitive business environment, consumers are bombarded with a lot of
product information that does not only seek their attention but also wants them to make the
ultimate purchasing decisions. This makes it increasingly difficult to grab the attention of those
consumers who are already loyal to some particular brands. Marketing communication
approaches come in handy, where business entities try to reach new markets even as they sustain
the ones that they already have. In this discourse, we examined the various communication-
marketing approaches that ANZ Banking Group employs to reach its various market segments.
Objectives
The objective of this study was to establish the marketing communication approaches that
are used by the ANZ Banking Group and their effects in terms of customer response and
satisfaction.
Methodology
The findings of this study are derived from secondary data. As Johnson, (2014: 621)
suggests, the subject areas of the study and the research objectives were essential in determining
how the secondary analysis was conducted. According to Konopinski, (2013: 37), secondary
analysis can be regarded as a systematic method that consists of evaluative and procedural steps
that begins with the determination of the research objectives, the identification of the relevant
literature and the ends with the thorough evaluation of the collected dataset.
Hsia, (2015: 302) points out that one of the factors that translates into effective data
analysis is the application of the theoretical knowledge and the conceptual skills to the collected
data in addressing the research objectives. The formulation of the research objectives was
therefore, the first step in the methodology applied in this study.

MARKET COMMUNICATION APPROACHES 4
Secondly, the identification of the relevant literature included an in-depth review of the
available relevant literature in regards to communication marketing theories and approaches in
relation to the ANZ Banking Group. In this case, the research objectives were essential in
determining the relevance of the literature that was used in the study.
Thirdly, the collected data was evaluated to ascertain its appropriateness for the research
topic. As Miller-Cochran & Rodrigo (2014) suggest, the evaluation process took into account
factors such as the purpose of the study, the date the information was published and reliability of
the source where the information was published. The literature that was considered in this study
in regards to the communication marketing strategies used by ANZ Banking Group is those that
were published not more than two years ago. The literature regarding the theoretical
underpinnings of communication marketing approaches were those that were not more than five
years since publication.
Information Analysis
Marketing communication is the most critical component of the marketing strategy of a
company. It entails the messaging and the media through which the company communicates
about its brands or products to the market (Chitty, Luck, Barker, Sassenberg, & Shimp, 2017:
80). According to Egan, 2014: 34) marketing communication is achieved through employing a
mixture of tools and various marketing channels. The examples of marketing communication
include advertising, promotion, personal selling, public relations and direct selling.
Advertising
ANZ Banking Group markets its products by placing its adverts in the mainstream media
including the television, radio and newspaper. The bank also does outdoor advertising using

MARKET COMMUNICATION APPROACHES 5
billboards that are strategically placed around the major towns and along the major highways in
the country.
Promotion
ANZ Banking Group has numerous products and services on offer in a bid to motivate
customers to try their products and build their loyalty towards them. Examples of the products on
offer include pay and transfer services, card products, loan products and term deposit products.
(ANZ, 2018a)
Personal Selling
ANZ Banking Group encourages its customers to visit their branches so that they can
have a chat with their specialists in financial matters. These specialists include small business
consultants, investment and home lending managers and financial planners. Through such visits,
the customer can also have the opportunity to chat with a personal banker that that take them
through the banks’ A-Z review so that they can understand the client’s financial goals and
develop customized solutions to achieve them. (ANZ, 2018)
Public Relations
ANZ Banking Group engages with communities where the bank operates in a bid to help
them build opportunity and prosperity. This engagement is characterized by donating to their
charity partners; expanding financial capacity and inclusion for the community member through
financial literacy programs in a bid to promote their progression as individuals and communities.
The bank also encourages its employees to make donations in form of their time and skills to
community causes as either teams or individuals. Furthermore, the bank provides community
grants through which they fund projects, charities and causes through various community grants.
The bank also provides support relief during disasters. (ANZ , 2018b)

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Direct Response
The ANZ Banking Group uses direct response advertising through its Facebook Page,
which enables communication with customers and prospective customers whereby they are
sensitized or introduced to the existing and new products. Facebook is also effective in helping
the bank to influence the actions of the customers on-line, in the banking hall and on their mobile
apps. Through Facebook Page, the bank is able acquire new customers for their mobile app;
advertise its online products and services and advertise its in-store products and services. Apart
from that, ANZ Banking Group markets its products through Search Engine Marketing of its
website (https://www.anz.com.au/personal/) that is easily accessible when one is searching for
banks in Australia.
Findings
This study established that integrated marketing communication involves the use of
various channels and messaging in a bid to reach out to the markets that the business
organization is targeting or serving. The mix of media channels and messaging ensures that the
business organization is able to effectively reach each of its market segments through an
appropriate channel and with the appropriate message. In this way, no market segment is left
behind in terms of getting to know about the products and services that the business entity is
providing.
The ANZ Banking Group has adopted the concept of integrated marketing communication as the
means through which the company reaches out to its target markets. These advertising
components largely target the public through print and electronic media, covering both existing
and prospective customers. The promotion component covers the existent customers so that they
can make the most of the products and services that the company is providing. The personal
selling component also targets the existing customers, developing a deeper understanding of the

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bank offering and build customer loyalty. Public relations also target the public with the aim of
building the brand name and reputation. Finally, the personal selling component targets both
customer and prospective customer, most of them who are online or can be accessed online.
Therefore, using the integrated communication marketing, the ANZ Banking Group is able to
reach a broad scope of its market segment.
Recommendations
As the world is shifting fast towards technology, most of the bank transactions are going to be
conducted online. This study therefore, recommends that the ANZ Banking Group should invest
more in the development of the direct response components as they offer prospective for future
competition.

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Bibliography
ANZ. (2018) ANZ Branches. Retrieved from https://www.anz.com.au/ways-to-bank/branches/
ANZ. (2018a). Current Product Offer. Retrieved from
https://www.anz.com/internet-banking/help/apply/offers/
ANZ. (2018b) Corporate Sustainability. Retrieved from http://www.anz.com/about-us/corporate-
sustainability/community/
Chitty, B., Luck, E., Barker, N., Sassenberg, A.-M., & Shimp, T. A. (2017) Integrated marketing
communications. Southbank, Vic. : Cengage.
Egan, J. (2014). Marketing Communications. New York : SAGE.
Hsia, H. (2015) Mass Communications Research Methods: A Step-by-Step Approach. New
York : Routledge .
Johnson, M. P. (2014) Secondary Data Analysis: A Method of Which Time Has Come .
Qualitative and Quantitative Methods in Libraries, 3, 619 - 626.
Konopinski, N. (2013) Doing Anthropological Research: A Practical Guide. New York :
Routledge .
Littlejohn, S. W., & Foss, K. A. (2010) Encyclopedia of Communication Theory. Thousand
Oaks, CA : Sage.
Miller-Cochran, S. K., & Rodrigo, R. L. (2014) The Wadsworth Guide to Research. Boston,
MA : Wadsworth Cengage Learning.