Marketing Assignment Solved

   

Added on  2020-10-05

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Marketing
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Table of ContentsINTRODUCTION...........................................................................................................................1MAIN BODY...................................................................................................................................11. Presenting background of industry and market positioning...............................................12. Presenting market audit that includes external as well as internal factor...........................33. Critically defended new marketing mix actions to achieve gaps between company'smarketing strategy and external environment........................................................................9CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................13
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INTRODUCTIONMarketing plays an important role in every business and is done to satisfy customers. It isa process used to sell products and services in market to raise company's profitability. Projectdeals with banking sector of Malta in which it focuses on HSBC Bank which is one of the mostleading and international banking and financial service provider and offer variety of financialservices to customers.. The present study assists to understand meaning of marketing and willcritically review the essential conditions which helps the firm to build customer's loyalty andalso deliver total customized’ experience for market segments. Present study will describe a background of industry in which HSBC deals in and itsmarket positioning with its unique selling propositions. Further, it will also present marketingaudit that includes both external and internal factors by using PESTLE and SWOT analysis.Report will also critically evaluate new marketing mix actions to achieve gaps betweencompany's present marketing strategy and external environment.MAIN BODY1. Presenting background of industry and market positioningBackground of Banking industryIn 2017, the banking sector in economy of Malta grew up to 6.6% and underpinned by anincrease in export of goods and services. From last many years, the banking sector in Malta hasgrown to four retail banks which provides the best services to their customers.Around 71 percentof banking sectors are present in Malta.Overview of organisationHSBC deals in banking sector of Malta and currently, it is the second oldest bank inMalta which offers variety of financial products to its customers. Malta is the home country tomany international banks, these banking institutions offers special services that supportsoperations abroad. The company's rivals are HSBA, UBS and Citigroup (Liu and et.al.,2017).Currently, the company's revenue is continuously increasing such that it profits revenue in June2018, is amounted to 16.2 euro which decrease 9.8 euro during last few years. There are nearlyabout 25 banks in Malta which provide the best services to its customers and also support bymaximum shares in expanding its economy. Moreover, this country also offers remarkablegrowth opportunities for banks and provide different options to their customers in Malta.1
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Therefore, the global banking sector is in integration mode because of highly capital investment,raising cost that directly creates impact upon bank's profitability. HSBC provide wide range of financial products to their customers and it operates itsservices in more than 88 countries. The financial position is quite strong and recently thecompany offer online services to their customers to raise its profitability and productivity.Market PositioningIn Malta, the size of banking sector stands at 40 position in GDP from last year whichshows that it imparted a large amount to country's economy. Therefore, it has been criticallyevaluated that companies operating business in banking and financial sectors such as HSBCshare a large amount of their part to the economy of Malta (Huang and Sarigöllü, 2014). HSBCwhich offers variety of financial products to their customers and has an excellent position thatsupport the residential property market. It also continued its support to Malta's real estate marketand provide the best range for home loans . A value-based positioning strategy is used by HSBCto emerge as a bridge between different segments of customers around the world.HSBC is operating business in a diverse industry which provides a wide range ofservices such as custodian banking, online services, trade and projects finance with wealthmanagement services. it has been analysed that HSBC enjoys 5th position in Malta and provides best services totheir customers in order to raise its profits and sales. It provides variety of financial products totheir customers so that it will help to sustain its brand image in market.Unique Selling Positioning: The unique sell proposition of HSBC are that it providesonline services to its customers so that their customers can easily access the banking serviceswhich are provided by firm . In the present year of 2018, the quoted company is in an excellentposition in market. (USP of HSBC, 2018). The unique selling proposition for HSBC is itsmission. An organisation has achieved popularity due to quality of services. It also providesvariety of financial products at such as loans, at affordable interest rate which makes anorganization differ from other. HSBC has different perspective of value that takes pride tounderstand the significance of cultural differences. The company has strong competitiveadvantage with regard to its market strategy and also has a brand equity.2
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