Marketing Plan for Oversea Chinese Banking Corporation (OCBC)

Marketing Strategy
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Assessment 2 – Individual Marketing Plan
Executive Summary
There are six local and almost 150 overseas banks in the banking industry of Singapore.
The competition in the industry is very high, and all the competitors strive for their position in
the domestic market as well as in the Asian Pacific Market. The banking industry of Singapore
could be categorized into two groups, one is overseas banks and the second one is local banks. In
the year 2017, the growth rate of the banking industry in Singapore was 3.9% which is estimated
to increase almost 4.8% by the end of the year 2018. Some external environment factors have
profoundly affected the banking industry of Singapore as the industry has less control over the
external factors. The implementation of technology accessible by all and diversification are the
leading factors of success for the banking industry of Singapore.

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Assessment 2 – Individual Marketing Plan
Table of Contents
Introduction.................................................................................................................................................3
Company Analysis......................................................................................................................................3
Competitor Analysis....................................................................................................................................3
Marketing Objectives & Strategy Formulation – STP.................................................................................4
Marketing Strategy Formulation – Branding & Internal Branding..............................................................6
Product Management...................................................................................................................................7
Pricing Management....................................................................................................................................8
Distribution Management............................................................................................................................9
Integrated Marketing Communications Management................................................................................10
Implementation & Control.........................................................................................................................11
References.................................................................................................................................................12
Appendices................................................................................................................................................14

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Assessment 2 – Individual Marketing Plan
Introduction
The paper will analyze the Singapore's banking industry, and Oversea Chinese Banking
Corporation (OCBC) has been considered as a brand of choice. It will develop a marketing plan
which could be implemented by the organization. Singapore is among the top financial centers in
the world due to its banking industry. The Monetary of Authority of Singapore controls the
banking industry of Singapore. Moreover, the fourth largest market of foreign exchange in the
world is in Singapore after London, New York, and Tokyo. The paper will evaluate analysis of
company and competitor's, marketing strategies and formulation of policy, formulation of
marketing strategy on branding and internal branding, product management, pricing
management, distribution marketing, marketing communication management and
implementation and control of OCBC.
Company Analysis
Overseas Chinese Banking Corporation is a public listed financial institution with its
head office in Singapore. It was formed in 1932 through the consolidation of three banks such as
the Chinese Commercial Bank Limited (1912), the Ho Hong Bank Limited (1917) and the
Overseas Chinese Bank Limited (1919). Lee Group of Companies is the largest shareholder of
this bank, in spite of being publicly listed (Awanis, 2017). Lee Kong Chian and his son Lee Seng
Wee were the chairmen of this bank in the earlier 1930s and 1990s respectively. It is recognized
to be the oldest local bank of Singapore with the assets of more than 224 billion SGD. It became
one of the largest banks in South East Asia by expanding its operations in the subsequent years.
Competitor Analysis
The top competitors of Oversea-Chinese Banking Corporation are DBS Bank, Standard
Chartered, HSBC, UOB, HSBC, Citigroup, BEA, Axis Bank, ICICI Bank, and UBS (Cheng,
Zhao & Zhou, 2016). Altogether, they have raised more than 6.8B between the estimated 812.7K
employees. It is ranked 6th among its top 10 competitors in its quarterly and annual revenue.
Considering its employment history, it is listed in 7th among its top 10 competitors. Given this, its
top 3 competitors are: