Marketing Concept of Metro Bank Plc : Report

Added on - 22 Jul 2020

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MARKETING &COMMUNICATIONS
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1a. Importance of understanding customer's needs, wants and demands within marketing....1b. Using examples, discussing the needs, wants and demands that customers of Metro Bankshow........................................................................................................................................2TASK 2............................................................................................................................................3a. Relevance of a situation analysis to an organisation..........................................................3b. Macro Analysis of Metro Bank..........................................................................................4c. Importance of Competitor Analysis....................................................................................5d. Competitor Analysis of Metro Bank..................................................................................5e. Findings of Competitor Analysis........................................................................................6TASK 3............................................................................................................................................7a. 7P's of Marketing................................................................................................................7CONCLUSION................................................................................................................................8REFERENCES................................................................................................................................9
INTRODUCTIONMetro Bank is a prominent financial institution headquartered in Holborn, London in theUK. This bank was found in 2010 by Vernon Hill. From the date of starting operation, thisinstitution is showing a remarkable growth and success through delivering consumer andcorporate banking solutions to customers. Within seven years, this bank has presented a rapidenhancement in the business operations by delivering unique and adequate client facilities. Mainattribute of this financial institution is its credit cards which are free for UK inhabitants andpeople who came from outside of United Kingdom and want to hold card then they must beinhabitants of EU, Swiss international and EEA.Company is offering a 56 days interest free period. In this duration, clients can makepurchase from the credit cards without paying interests on total purchase amount. In the sector ofconsumer banking, this financial institution is offering account opening services. In this facilityall formalities related to account opening gets completed within a day and clients can operatetheir account after one day(Kim and et. al., 2014). In corporate banking, bank is providing areasonable interest rate and an easy procedure of accomplishment of all formalities that isassociated with lending money to business clients to provide loans.This project report is focused on marketing concept that is related to Metro Bank Plc. Itcomprises of needs, wants and demands of customers along with making situational analysis offinancial institution. This report also involves competition analysis and this study is done withother leading bank of UK. PESTLE analysis of Metro Bank is also done in this assignment.Along with the above statement, this project is based on highlighting strengths and weaknessesof bank.TASK 1a. Importance of understanding customer's needs, wants and demands within marketingBefore comprehending the concept of needs, wants and demands, it is necessary tounderstand their meaning which is described as below:Need:This is a basic human need which is necessary for survival. For example food,shelter, clothes, water and security. These are requirements that each and every human beingpossess during his whole life. Security can be included in context of Metro Bank.1
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