Marketing Plan for Barclays

The given assignment is about preparing a marketing plan for Barclays, concentrating on 360 marketing and branding. The task involves understanding the company's position in the market, identifying its target audience, and developing strategies to meet their needs and wants.

MARKETING
ESSENTIALS

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Roles and responsibilities of marketing functions.................................................................1
P2 Roles and responsibilities of marketing.................................................................................4
TASK 2............................................................................................................................................5
P3 Comparison of marketing mix...............................................................................................5
TASK 3..........................................................................................................................................10
P4 Evaluate a marketing plan....................................................................................................10
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................13

INTRODUCTION
Marketing essential refers to delivering, promoting and creating products as well as
services to business and customers as well. Activities of marketing is not only limited to
purchase a product from stores (Babin and Zikmund, 2015). It is a process of exchange offers,
developing, delivering and communicating the value of entire society, partners and buyers.
Barclays is a multinational bank which is listed on New york as well as London stock exchange.
It gives banking and financial assistance to their customers in various nations. Purpose of this
organisation is to aid their buyers by providing the type of goods and services that they are
expecting from bank. Its outcomes will help in satisfying the needs of their buyers. In this report,
it covers the roles and duties of marketing functions and interrelations with other departments.
Comparison of marketing mix along with that prepare a marketing plan for an given
organisation.
TASK 1
P1 Roles and responsibilities of marketing functions
Marketing
It is a process of social by which organizations as well as individuals obtain their wants
and needs by exchanging as well as creating value from others.
Current trends of marketing
Some of marketing trends which are used in present times are as follows:
 Mobile marketing is having a very less use in past years. Many of organisation creates
desktop as well as email templets applications. In this, opportunities and growth are very
much brighter as well as bigger.
 Online performance is based on price per action which is wider within the advertisement.
In this, they also analysed brand effectiveness and awareness. Identify of right partner they must know the importance of market as well as brand along
with that they mainly concentrate on building a strong relationship with a perfect person
mainly when they found a new marketer (Functions of marketing, 2017).
Future trends of marketing
Their are certain trends of marketing which are going to use in future are as follows:
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 From smartphones mobile, emerging of these devices are one of major element impact on
marketing.
 Social is an integral part of broader discipline within marketing. It will become a next
internet. Trends of transparency will dictate a brand consumers relations. In this, they will be
continue with buyers are becoming much demanding in their transparency expectations.
Different marketing process Mission: Barclays is dedicated to provide higher quality of goods to their customers. In
this process they have to make their organisation mission first so they can apply within
company effectively (Baker, 2014). Situational analysis: Organisation is having its competitive advantages which is driven
by its commitment to understand the needs of buyers, concentrate on goods and services
and collaborative culture of work. Marketing strategy: Companies is providing new offers to their customers as well as
firms relies on loyalty of brands from previews buyers as a techniques used by
establishing a new services or products.
(Source: Marketing process, 2017 ) Marketing mix: Firms provides different range of goods, it values the pricing of premium
and strict distribution guidelines (Batt, 2013). This help customers to buy the goods as
per their budget.
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Illustration 1: Marketing process, 2017

 Implementing and control: After the marketing mix, they apply all the techniques as per
their plans and control them so that buyers can stay with their bank for a long time. By
implementing this process effectively it will aid in attracting customers and higher
profits.
Roles and responsibilities of marketing function
Barclays also performs the functions of marketing as it is very essential part of the
company (Chinn, 2017). They conduct a effective research which assist in taking a proper
decisions for meeting targets within a time period. Some of various types of marketing roles and
duties are as follows: Product: It is produce for fulfilling needs and wants of customers. It help in grabbing
large numbers of buyers towards their firms. Product should be promoted in an proper
way which will aid in earning higher level of profits. Before launching the services they
have to analyse their rivals goods for manufacturing a different product from their
competitors.
( Source: Marketing functions, 2018) Price: In this, it is essential for Barclays management to fix the price of their products
and services by analysing their rivals price as well as external environment (Desai, 2013).
Organisation marketing team keep on analysing customers taste as well as wants for
taking a effective decisions.
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Illustration 2: Marketing functions, 2018

 Distribution: Barclays main aim is to enhance the profits and meet the satisfaction level
of customers. Organisation are distributing their bank goods and services to large
numbers of buyers along with that they distribute their services to several location within
market. Promotion: Companies are using various activities of promotions so they can aware their
customers about their products and services. Promotional techniques which are used by
the company are press releases, newspapers, websites and many more. It is essential for
Barclays to find out the best opportunities by which organisation can give detailed
information of products for increasing their sales. Financing: Barclays must have enough finance for doing every activities of bank. If
organisation is not having effective funds then it will not able to be in market for a long
time (Diana, 2013). By having enough finance they can able to perform activities without
any problems. MIS: It aid in collecting lots of information and data for analysing a situation of market
in an effective way. Therefore, firms can able to take a adequate decisions for their
services and goods as well.
P2 Roles and responsibilities of marketing
In modern era, organisation is having various departments within their business for
managing every activities effectively and efficiently within the market place. Some of
departments are interlinked with marketing divisions are as follows:
( Source: Functional departments, 2017)
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Illustration 3: Functional departments, 2017

 Production department: In this, for taking a effective decisions it is necessary to
coordinate with marketing divisions before producing any services or goods. It will help
in satisfying their buyers needs by producing department. Firms will offer services as per
buyers requirements and demands within market place so for this they have to
communicate with manager of marketing for knowing the buyers needs and desires. Finance department: It is an very main part of every company to have a proper funds for
running a enterprise effectively within a marketplace. In order to accomplish a marketing
research they are in needs of finance. So, it is important for both divisions managers to
have a good understanding within each other for operating a business effectively. Marketing & Sales department: This department is also interlinked with marketing. In
this, if the marketing plan is properly implemented within the company then it will aid in
attracting higher numbers of customers. It will help in enhancing sales which will be
beneficial for both departments in an effective way (Walliman, 2015). Human resource department: Human resource manager have to recruit employees
externally. They hire a skilled and talented workers within their firms. This way
marketing team will help in doing a research properly if talented labours are hired.
Barclays keep on offering a new services to their buyers for meeting targets as well as
higher profits.
 Research and development department: Barclays are having various sub divisions which
help in making several new schemes by doing research. In both departments of marketing
and R&D is having a favourable condition for an company. They have to do research for
establishing new strategies for that they have to coordinate with the marketing managers
for knowing the requirements of customers.
TASK 2
P3 Comparison of marketing mix
Marketing mix is an very main function for every company. It is essential for every
organisation to keep in mind about customers at a time of making new services or goods. Their
are various strategies and tools which are used by Barclays (Jones and Rowley, 2011). Company
make their strategies by analysing their rivals such as HSBC bank. For competing them it is
necessary to compare marketing mix elements with their competitors for taking a better
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decisions. Hence, there is comparison made of marketing mix within HSBC and Barclays banks
are given below:
(Source: Marketing mix, 2017)
Particulars Barclays HSBC
Product This organisation is an one of
leading bank and institutions of
global financial (Mitchell, 2012).
Barclays goods are divided into
three sections are:
 For individuals companies
are giving personal
banking, Barclaycard,
premier banking, wealth
management and
International banking.
 For medium and small
enterprises they are
offering business baking,
Barclay card and corporate
baking.
 For corporates as well as
institutions firms are
HSBC has make divisions into four
different parts like as commercial
banking, global and investment
banking, retail and wealth
management and private banking.
They are providing offers all over
the globe. But goods differentiation
occurs when several goods are sold
at various nations. This bank is
giving all types of services of
banking from personal to enterprise
to corporate banking. HSBC bank is
providing services to all medium as
well as small enterprises such as
doorstep banking, phone banking
and multi branch banking (Swenson,
Rhoads and Whitlark, 2014).
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Illustration 4: Marketing mix, 2017

providing Investment
banking, Barclay Card and
Corporate banking.
Price Barclays is using a strategy of
pricing which is dependent on their
rivals, government impact and
buyers demand for their services.
 Organisation is providing
its buyers several options
of payment flexibility, with
offering a 50% discount on
mobile broadband, loans
discount rates, monthly fee
waiver and overdraft with
free interest.
 Companies decided to
decrease their annual
expenses to $ 24.6 billion
For example: 54%
declining in their
operational costs for
managing expenses.
HSBC bank offer services which
gave influence for a long run as well
as satisfy buyers is having their
prime concern. Main purpose of
HSBC Bank is their product price so
that they can grab the buyers. They
believes in giving services to
consumers at their satisfaction level.
This bank identify that differential
pricing is very much beneficial as
they charge less for their goods as
well as gain consumers (Ogunmokun
and Tang, 2012).
Place Organisation is increasing their
foreign enterprise over an years.
Bank is having its presence within
50 nations with 4750 branches are
setup for increasing the base of
customers. Barclays was a first
bank that started their business
online by managing all the buyers
HSBC Bank is having a wider area
where it can carry out their
operations. Organisation is having its
operation base in Asia, Africa, North
America, South American and
Europe. This bank is having a higher
customer base. HSBC had setup their
services in various areas and they
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financial resources which aid
consumers to easily access the
websites of bank. Company had
registered approx 4.4 million
online banking in United Kingdom
along with that also providing
mobile banking.
have to give better services to the
buyers. They also gives the options
of ATMs so their customers do not
require to carry cash with them. The
application of mobile banking also
helped them to make sure that buyers
can access their network of banking
in their grip of hand.
Promotion Barclays main purpose is to use the
promotional activities for reaching
to all its buyers. Companies is
using:
 Brochures, word of
mouth campaign, posters
and press releases.
 Websites advertising,
direct mail, billboards,
newspapers, magazines
and television.
 Promoting of sales will
aid in motivating buyers
to purchase (Rudden,
2016).
 Barclays also appoint
the brand ambassador “
MS Dhoni ” for
Barclays premier league
within India.
HSBC is very much involved in
promoting themselves. In this, they
had identified the people reach in a
form of television, radio, newspaper,
billboards, net etc. They tried each
and every possible way of promoting
their bank. They also sponsorship for
the events of sports, Telford Riders
and MONACO (Football). HSBC
make sure that they should maintain
a better image among their
customers.
People This bank a leader in satisfaction
as well as workers retention.
This bank is directly linked to their
consumers. They are making sure
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Organisation is providing a
different flexible advantages
scheme, where workers are allow
to decisions as per their comforts
or advantage. Barclays scheme
vary for various designations.
Certain advantages consists
performance related bonus,
incentives and pensions. Besides
this, insurance as well as medical
advantages are given to workers
and their family as well.
that buyers are should be all across
the globe and always connected with
them. Therefore, workers,
management, employees, customers
all they are contributing to their
growth and prosperity of the bank.
Each employee as well as worker
adds to bank profitability (Purvis,
2016).
Process Barclays process of banking is quit
easy as well as straight forward.
Buyers are providing the ease of
carrying out several transactions
by their personal accounts. Besides
this, manager make sure that
buyers visit their bank should take
care of then as well as smoothly
process. Banking services such as
loans, payments and money
transfer are introduced online for
helping their consumers.
HSBC Bank activities is governed
internationally by headquarter. This
bank also follow the set standards
format like others due to it they have
to abide by setting their own rules by
themselves. Even by forms as well as
documentation are standardised, it
has a customized method for each
buyers which are based on their
requirements.
Physical Evidence Barclays has adopted a facility of
mobile banking which is much
effective and broader level.
Company had launch a 'Barclays
Mobile' applications for global
consumers to accomplish their
Physical evidence of this bank by
several branches are spread all over
the globe. HSBC website is also
having their appearance. The
paperwork, furnishings, brochures,
business cards are the source of this.
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transaction easily. Along with that
they also introduce region
particular applications for
important services like as Barclay's
Namibia, Barclay's Ghana etc. By
this it is increasing very quickly in
online banking consumers of
Barclays.
Banks give tangibles like as pen to
workers, diaries and many more.
Process of marketing mix analysed properly by Barclays for achieving objectives as well
as goals of the organisation. They effectively do their marketing research for meeting their
outcomes efficiently and effectively (Perreault, 2010).
TASK 3
P4 Evaluate a marketing plan
Marketing plan is a strategic planning practices that assist in designing new business
practices for attaining desired goals and objectives as well. Main objective of this procedure is to
introducing new products and services in market by analysing customer's requirement and need.
Introduction of Company:
Barclays is one of multinational as well as leading bank, which is giving the banking as
well as financial assistance to their customers in diversified nations and societies as well. This
bank is running its activities in over 50 nations as well as approx 48 millions buyers all over the
world. Barclays was a 1st bank who had started provided services online to their customers along
with this they can also easily access through using websites of bank.
Marketing objectives
Barclays are concentrating its attention over image, improvement, appearance and quality
of goods. It makes companies structure strong as well as it give funds to customers by
transaction to place, where they desire to receive. Its provides facilities to their customers by
making transfer of money as well as provide financial rewards to their employees and
shareholders. They having a planning to attain new business objective as - To provide face recognition facility to ensure high security within 6 months of time
period to improve customer base by 5 %.
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SWOT Analysis Strength: This bank is having 145,000 workers all over the globe. Barclays deal with
wealth and retail management, which contributes in over all banking growth.
Organisation maintain the network internationally as well as it shows better brand
visibility. They also sponsors various events within globe. Weakness: This bank have to face some current crisis of economic within United
Kingdom as well as it have to start for bailout. This bank is allegedly consists in
controversies as well as give finance to the government of Zimbabwean. Threats: Government strict the policies of economic can be a treat for banking and
financial functions of bank. Competitors of bank are providing certain incentives to their
customers to carry out activities of enterprise. Opportunity: Barclays are adopting advanced technology for improving bank transaction
of finance. It is require to make transfer of cash, which is carry out in the level of
international. Barclays have to increase their activities of financial and banking in
developing economic to cash transfer.
STP Segmenting: Barclays is providing profitable, accessible and measurable services to
customers. They are having presence of business in corporate as well as industrial sectors
as this market can collect higher money for the sector of banking (Papasolomou and
Melanthiou, 2012).
( Source: STP, 2018)
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Illustration 5: STP, 2018

 Targeting: This bank is giving its goods and services to diverse marketing by keeping
higher rates and quality of their services. They want to pat maximum attention towards
security services. Sector of industrial as well as areas of business are better market target
as millions dollars are transfer to potential markets. Positioning: Organisation has designed their schemes as well as set companies image in
customers mind to give them offers of market and business needs. They maintain the
network at international branch.
Marketing Mix Products: Barclays provides their effective services to customers. For security services,
organisation wants to introduce face recognition facilities that assist them in analysing
details of customers for easy transaction and further services. Place: It is where they provide goods to buyers by effective as well as quick channel of
distribution. Customers can get information through internet to know the package of
current account. Price: Services price of Barclays attract buyers for getting better services as well as they
can collect amount from banks. In pricing services such as personal objectives, survival,
profit maximization, social consideration and higher market share.
 Promotion: Barclays give more information about new security features which can
persuade the customers for using services or goods for financial assistance. The
customers are informed by media to know about goods promotion as well as increasing
its utilization.
Market budget:
Marketing budget
Particulars 1st year 2nd year 3rd year 4th year 5th year
Initial money 7000 10000 12000 10000 10000
Investment 3000 18000 25000 35000 18000
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Total 10000 28000 37000 45000 28000
Marketing outlay
Promotion 12000 4000 9000 10000 4000
sales publicity 4000 4000 4000 4000 4000
Direct selling 4000 15000 5000 4000 4000
Total 20000 23000 18000 18000 16000
Control & Evaluation: Barclays also evaluate their cost of competitors for operating activities
within marketplace. In this, they evaluate plan and control it by using various techniques.
Manager and security analyst needs to monitor new feature of firm properly so that thy can make
proper control on them for providing advance feature services to customers.
CONCLUSION
As per above report it has been concluded that bank use several strategies for grabbing
customers towards their companies as it will aid in earning higher level of profits. Organisation
is offering different types of services in baking sector. They have to follow its principles as well
as regulations. This approach is used for knowing the current and future trends of their
competitors and customers. It will also help in fulfilling the buyers requirements and wants
within a marketplace. Organisation is concentrating on 360 marketing and branding. In this,
prepared a marketing plan of Barclays.
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REFERENCES
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Perreault, W. D., 2010. Essentials of marketing: A marketing strategy planning approach.
Purvis, J., 2016. Human Resources Marketing and Recruiting: Essentials of Digital Recruiting.
Handbook of Human Resources Management, pp.53-71.
Rudden, D., 2016, November. Can You Hear Me Now? Marketing Essentials for Audiologists in
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Online
Functions of marketing. 2017. [Online]. Available through:
<http://smallbusiness.chron.com/functions-marketing-business-32399.html>.
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