Developing Skills for Business - Barclays Bank

This presentation provides an overview of Barclays UK, a personal and business banking franchise. It discusses their mission, purpose, values, issues faced, marketing strategies, and more. Learn about the skills needed for business and how Barclays is innovating to meet customer needs.

Developing skills for
business

Barclays bank

Barclays bank
 Barclays UK is a personal and business banking franchise with
true scale, built around our customers’ needs with innovation at
its core.
 It comprises our UK retail banking operations, our UK
consumer credit cards business, our UK-based wealth offering,
and corporate banking for smaller businesses.
 With around 24 million retail customers, and almost one million
business banking clients, we are a pre-eminent UK financial
services provider.

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 Barclays will, subject to approval, set up its ring-fenced bank in
the first half of 2018, into which Barclays UK will transfer.

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Mission :
 It is a global financial service provider that is engaged in retail and
commercial banking
 It wants to offer innovative products and services in order to meet
the needs of customer and clients.

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Purpose
“To help people achieve their ambitions accordingly”

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Values
 Respect – we respect and value the people we work with and the
contribution that they give
 Integrity – we act fairly, ethically and openly in everything we do
 Service — we put our customers at the center of everything we do

Issues faced by the company
 In comparison of other banks the same level of revenue is not
earned by this company.
 The HSBC and JPMorgan Chase revenue is more in comparisons
with this company.

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Expectation of consumer
 Today its all about expectation of customers.
 And the pressure is being felt by many banks
 They are not able to deliver the level of service that is expected by
customers

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Increasing competition from financial
competitors
 The popularity of FinTech companies is disrupting the way
traditional baking has bee done

Solution for business need
 Online banking
 Focus on demand of customers
 Use more of technology

Marketing strategies of Barclays
 The banking industry has adopted many different marketing
strategies over the years.
 With the globally changing world, the marketing practices have
also changed, improved, updated and hence enhanced.
 The Barclays is basically a British multinational banking and
financial services company.

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Attracting Young People
 The bank keeps on attracting the young lot like students by
offering them unique financial accounts and tries to make them
believe that they are the valued customer of the bank
 The bank will keep on offering them unique and attractive
services and keep them involved in successful bank product
launches.

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Market Penetration
 The bank considers to increase the market share of the student
account holders and to reevaluate the student proposition to
ensure it relevance to the target market.
 This is done by implementing the market penetration and by
product development and by capturing current account market
share from the other banks and financial institutions, those
which have been weakened by the economic crisis.

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Successful Product Development
 They keep on developing new cards as an example of product
development and they also believe that by doing this they can
get rid of non-traditional financial institutions
 The advantage of this strategy is that as Barclays has huge
network of branches in more than 50 countries so broad based
differentiation is done and maximum market share is captured.

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Sponsor Various Events
 The other important aspect is to use the brand name for its own
marketing strategy like the example of sponsoring of Premier
League football.
Self Provision of Service
 In their marketing they also focus on full portfolio of services
worldwide providing easy investment opportunities.

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Aim Customer Satisfaction
 In marketing they also focus on quick and efficient services
working for customer’s satisfaction by using the latest internet
banking services, and making use of latest technology to grab
the attention of more customers.

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Market Segmentation through Customer Needs
 The best thing done at Barclays is the segmentation of the
customer needs and then acting as their needs demand.
 This segmentation has helped the bank to identify the real needs
of the customers, take preemptive approach and serve them
before even they ask for it.
 The characterization of customer group is done as per their need
and demand and then dealing being very specific to their need.

Competitors of Barclays bank
 ABN AMRO
 Credit Suisse
 HSBC
 Wells Frago

Recommendation
 There are great opportunities for Barclays in emerging economies
where there is a rising demand for credit in both the retail banking
and wholesale banking spaces.
 As education levels are improving, there will be a rise in the
number of youngsters who are looking for investment options.

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 The company should get in a wider portfolio of services to attract
more customers and should also aim at increasing cross selling.
 Venturing into online banking is a huge untapped area

REFERENCES
 Bansal, P. and DesJardine, M.R., 2014. Business sustainability: It
is about time. Strategic Organization. 12(1). pp.70-78.
 Bentley, K.A., Omer, T.C. and Sharp, N.Y., 2013. Business
strategy, financial reporting irregularities, and audit effort.
Contemporary Accounting Research. 30(2). pp.780-817.
 Bharadwaj, A. and Venkatraman, N.V., 2013. Digital business
strategy: toward a next generation of insights.
 Blackburn, R.A., Hart, M. and Wainwright, T., 2013. Small
business performance: business, strategy and owner-manager
characteristics. Journal of small business and enterprise
development. 20(1).pp.8-27.

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