Marketing Management of ANZ Bank Australia

Running head: MARKETING MANAGEMENT
Marketing management of ANZ Bank Australia
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MARKETING MANAGEMENT
Table of contents
Introduction................................................................................................................................2
Description of industry market for ANZ Bank..........................................................................2
Evaluation of current trends in terms of:....................................................................................2
a. Growth................................................................................................................................2
b. Profitability........................................................................................................................3
c. Macro environment............................................................................................................5
Position of ANZ Bank in the competitive ambience of banking industry of Australia.............7
Major market segments for ANZ Bank....................................................................................10
Level of involvement of primary segment in terms of the decision making...........................11
Positioning map for the market place.......................................................................................12
Conclusion................................................................................................................................13
References and bibliography....................................................................................................14
Appendix 1...............................................................................................................................17

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Introduction
Management is an important aspect, which helps in proper regulation of the business
activities. This is applicable especially in case of marketing. This is in terms of regulating the
marketing of the services in a proper manner, so that they reach to the customers properly
(Goworek, McGoldrick & McGoldrick, 2015). This assignment attempts to shed light on the
marketing management of ANZ Bank, Australia.
Description of industry market for ANZ Bank
Australia and New Zealand Banking Group Limited (ANZ) is the third largest bank in
Australia followed by Commonwealth Bank and Westpac Banking Corporation. This is in
accordance with the market capitalization. The industry for the bank is banking and financial
services. As per the annual reports of 2018, banking industry operated according to six
themes ranging from customer centricity to cyber risk (ANZ, 2018). Strategic approach
helped in maintaining the balance between the supply and the demand.
Evaluation of current trends in terms of:
a. Growth
The financial sector of Australia contributes greatly to the national economy. In terms
of GDP, it is approximately $140 billion as of the last year. Hard efforts of 450,000
employees are the major drive behind such economic growth. Strong regulatory system
results in the projection of sophisticated services. Largest pool of investment assets is a
support towards achieving competitive advantage over the contemporary banks. Typical
evidence of this lies in 2.5% growth in the CPI inflation rate in December 2003. Support from
RBA proved fruitful for ANZ Bank in terms of adopting incremental approach towards
monetary policy in one financial year (Treasury.gov.au, 2018). As a result of this, the cash
rate increased up to 5.5%in the first half of 2003. RBA Board meetings are one of the aspects,

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MARKETING MANAGEMENT
which increased the level of cash rate by 25 bps. Growth of cash rates from 4.75% to 5%
assisted ANZ Bank to contribute greatly towards stabilizing Australian economy.
Technological upgradation improved the focus in the financial services. Feedback from the
customers resulted in evaluation of the services and launch e-banks, which provided greater
accountability. Maintaining ethical approach assisted in attracting foreign clients, enhancing
cultural diversity. This resulted in the achievement of sustainable growth (Chernev, 2018).
b. Profitability
As a matter of specification, the banking industry in Australia can be categorised by
low levels of sector competitiveness, supernormal profitability and stringent or lax prudential
and consumer protection regulations. However, competing objectives assisted the banking
industry in making up for the drawbacks. These objectives included shareholder returns,
regulatory investment, system efficiency and customer satisfaction. Strategic approach
towards leveraging RealAs property assisted ANZ bank to create 1 million home loan
accounts. Accumulating greater share in the New Zealand market share strengthened the
market share of the ANZ Bank in Australia in terms of home loans (Treasury.gov.au, 2018).
Figure 1: Total assets of ANZ Bank, Australia
(Source: ANZ, 2018)