Common Wealth Bank Marketing Strategy: Assignment

Running head: Common Wealth Bank marketing strategy
Common Wealth Bank marketing strategy
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1Common Wealth Bank marketing strategy
Marketing strategy for Common Wealth bank
The bank gives financial services as well as some products to their customers. The ethics
of the company must be remaining intact while the company deals with its customer of Australia.
Selling the new product to the community must give the company more strategic advantage. A
thorough market research and development can be further help in developing the strategy
(Mohanty, 2012). The bank communicates the message to its retail customers through marketing.
The media for marketing must be chosen according the target customer segment. The
relationship manager can target the potential clients through business development activities.
Product
The bank has different products like masters, visa cards. Their master card is accepted in
different locations all over the world. They can target the market through different loyalty and
awards programs. As the bank must focus on the relationship management with the customers
more because that what drives the customers to more engage with the company for further
relation selling (Tudor et al., 2012). The innovation in the new services offered must be popular
among the target market. This will also ensure the effectiveness of the popular innovation
focused on the Home Loan products related activity.
Pricing
The pricing for bank products is really ensured to reach maximum profit. Their only 12 %
market share must be in the retail corporate markets are based on mark up pricing method. The
new products that they are offering must be exclusive and distinctive (Ivens and Valta, 2012)..
The available substitutes must not be readily available for that would affect the pricing and the