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Communication and Marketing in a Digital World

   

Added on  2021-04-17

6 Pages1047 Words148 Views
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Marketing and communicationMetro bank
Communication and Marketing in a Digital World_1

Marketing and Communication1ContentsIntroduction......................................................................................................................................2Target market...................................................................................................................................2Promotional mix theory...................................................................................................................2Promotion strategy proposed...........................................................................................................3Channel outline................................................................................................................................3Communication message.................................................................................................................3AIDA...............................................................................................................................................4Conclusion.......................................................................................................................................4References........................................................................................................................................5
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Marketing and Communication2IntroductionCommunication is a crucial part of any business. Effective communication can help brands in reaching out to their target customers in the most effective manner (Armstrong, Kotler, Harker &Brennan, 2015). The goal of this communication plan is to grow personal banking services offered by Metro Bank by targeting university students in the south east of London by February 2019. This report throws light on various strategies that can be adopted by Metro bank in order toreach out to their targeted customers, communication message that can be instituted as well as the process through which the aforesaid goal can be achieved.Target marketTarget market of any organization refers to the set of customers whose needs the organization aims to fulfill (Kiel, 2014). For the success of any business, it is imperative to define a specific target market. The targeted customers of the bank includes university students who need to avail personal banking services of Metro bank. Therefore the communication plan aims to reach out tothese students. Through the plan, Metro Bank aims at increasing the number of personal banking accounts under the name of university students located in the south east of London. The growth is aimed at 5% by February 2019.Promotional mix theoryPromotional mix of an organization refers to the promotional strategies adopted by the firm in order to reach out to their customers (Kitchen & Burgmann, 2015). Metro bank’s promotional mix would include the following:1.Advertising: This entails television ads, billboards and hoarding, social media ads as wellas newsletter ads. 2.Public relations: releasing articles in the university newsletters and participating in university events.3.Sales promotion: offering higher deposit rates and lower minimum balance accounts to customers.4.Direct marketing: Cold calling or email marketing to each student.
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