Macro Environmental Analysis, 7P’s of Marketing Mix of Lloyds Bank - Individual Report
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Added on 2020-10-22
Macro Environmental Analysis, 7P’s of Marketing Mix of Lloyds Bank - Individual Report
Added on 2020-10-22
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Individual Report1
Table of ContentsINTRODUCTION...........................................................................................................................3TASK ..............................................................................................................................................31. Background of Lloyds Bank UK. ...........................................................................................32. Macro Environment Analysis..................................................................................................43. Porter's Value Chain Analysis.................................................................................................54. Marketing Mix of Company....................................................................................................65.Brand Value Of Company........................................................................................................86. Recommendations for Lloyds Bank UK..................................................................................9CONCLUSION................................................................................................................................9REFERENCES................................................................................................................................12
INTRODUCTIONManagement tools refer to applications, solutions, systems used for controlling andimproving business. They show the impact of external environment on functioning andoperations of business. This report discusses about macro environmental analysis, 7P’s ofmarketing mix of Lloyds Bank. Further, it discusses about use of Porter's Value chain to analyse its competitiveness andpositioning in commercial banking sector. Lloyds Bank Plc is a British Commercial and RetailBank with branches in England and Wales. It was established in the year of 1765. TASK 1. Background of Lloyds Bank UK. Lloyds Bank Plc is a British Retail and Commercial bank. It was established in the year1765 in Birmingham. The bank expanded during nineteenth and twentieth century’s and slowly ittook over number of smaller banking companies. In 1995, Lloyds Bank merged with Trustee Saving Bank of British and traded as LloydsTSB Bank plc between 1999 and 2013. Lloyds Bank UK is a principal subsidiary of LloydsBanking Group that was formed in the year 2009 by acquisition of HBOS. Lloyds Bank is the largest retail bank of Britain and have large network of ATM’s acrossEngland and Wales. Further, Bank has made an arrangement for its customers to be served byBank of Scotland branches in Scotland, Halifax branches in Northern Ireland. Lloyds Bank provides financial service to millions of its users of England and Wales withtheir presence in every community of United Kingdom. Moreover, it supports 124000 start-upsbusinesses in the year 2017 across the UK. It has its operational headquarters in London andother offices in Wales and Scotland. Further, Bank has numerous office complexes, brand’sheadquarters and data centres in Yorkshire including Leeds, Sheffield and Halifax. Lloyd's Bank provides wide range of banking and financial services to their customers. These services are as follows: Current Accounts, Credit Cards, Loans, Savings, Individual Saving Account’s, Home and Motor Insurance, Mortgages and Life Insurance. Lloyds Bank offers numerous services to start-up businesses in England and Wales. It provides effective services to their consumers with their strong distribution network and competent employees who offers 24-hour telephone and online banking services. Moreover, 3
Lloyds Bank Foundation funds local, regional and national charities. It joined hands with Mental Health UK and supported an exciting new charity partnership with this association. Lloyds Bank also fought and supported Anti-Slavery and Trafficking movement within United Kingdom. 2. Macro Environment Analysis External factors or components are uncontrollable by most of the organisations. Thisincludes components like Political legislations, technological matters, financial tendencies,environment influences and communal impact. They directly influence functioning of company/bank. To analyse Macro Environment of Lloyds Bank, PESTLE Analysis can be a useful tool:Political: The political factor plays major impact on profitability of Lloyds Bank GroupPlc. In the year 2016, British banking sector faces tough challenges within bankingsector. A sustainable business model of Lloyds Bank UK helps to overcome thesechallenges within their sector. Llyods is no longer burdened with any conduct issuesresulting from its involvement in 2008 financial crisis. Nevertheless, there are certain political issues that hamper functioning of Bankthis was introducing 8% of surcharge on bank profits by the UK government. Moreover,banking sector faces the biggest political shock by decision of UK leaving EuropeanUnion. This causes instability in the political environment of UK and affects working ofLloyds Bank. Economical: The economic environment comprises of factors such as Inflation, Foreignexchange, Savings and Interest rates, etc. Further, it includes economic cycle and currenttrends within economy of nation. The effects of post Brexit creates economic risk andupheaval in economy of UK. Brexit can create certain negative impact on Lloyds Banklike Low interest rate environment, impact over operation of Bank, Downfall in capitaland issuing of certain other regulations over Lloyds Bank (Hampshire, 2017). Social: It refers to factors/ components like labour composition, lifestyle, social mobility,community and consumers of services/products. They can create opportunities for bankto expand their business or barriers that affect their operations. Demographic changes within UK population can affect future potential of LloydsBank. For example, bank may be affected by ageing British population. Bank needs toshift their operational functions to support needs of ageing population of UK. 4
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