Report on Marketing Plan on the Bank

Running head: MARKETING PLAN
MARKETING PLAN
Name of the Student
Name of the University
Author Note

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Executive Summary:
The purpose of the report is to present a marketing plan on the Bank of Cancer Research
Australia in terms of achieving the basic goals of the same. The method includes the situational
analysis of the market as well and the internal analysis of the resource and capabilities of the
bank. The result represents fewer improvements in the strategies based on the marketing of the
organization in the potential market.

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Table of Contents
I. Introduction:............................................................................................................................3
II. Situational Analysis:................................................................................................................3
A. Internal Environment:.......................................................................................................3
Marketing Goals and Objectives:............................................................................................3
Marketing Strategy and Performance:.....................................................................................4
Organizational Resources:.......................................................................................................4
Current and anticipated cultural and structural issues:............................................................4
B. Customer Environment:....................................................................................................5
Current and Potential Customer:.............................................................................................5
Utilities of the Product:............................................................................................................5
Placement of the Products:......................................................................................................5
Purchasing Behavior on the Basis of Time:............................................................................6
Reason for Customers’ Choice of the Firm’s Product:............................................................6
Probable Competing Values for Firm’s Service:.....................................................................7
C. External Environment:......................................................................................................7
PESTLE Analysis:...................................................................................................................7
III. SWOT Analysis:...................................................................................................................8
A. Strength:............................................................................................................................8
B. Weakness:.........................................................................................................................8

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C. Opportunities:....................................................................................................................8
D. Threats:..............................................................................................................................9
E. Development of Competitive Advantage:.........................................................................9
F. Strategic Focus:....................................................................................................................9
IV. Marketing Goals and Objectives:.......................................................................................10
Goal A:.......................................................................................................................................10
Goal B:.......................................................................................................................................10
V. Marketing Strategy:...............................................................................................................10
A. Target Market:.................................................................................................................10
B. Product Strategy:.............................................................................................................10
C. Pricing Strategy:..............................................................................................................11
D. Supply Chain Strategies:.................................................................................................11
E. Integrated Marketing Communication Strategy:.............................................................11
VI. Marketing Implementation:................................................................................................11
VII. Conclusion:.........................................................................................................................12
Reference:......................................................................................................................................13

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I. Introduction:
The Bank of Cancer Research is a bank that uses its profit to raise the fund for the cancer
research and treatment for the people (Bankofcancerresearch 2017). The bank is collaborated
with the Giving Pledge, a group of wealthiest families and individuals in the world who are
committed to the philanthropic deeds for the society. The Giving Pledge provides major portion
of the fund to the bank (The Giving Pledge 2017). The recent business model of the organization
proposes towards the sustainable philanthropy. The marketing strategies and the marketing of the
organization ensure its sustainability in the market (Hollensen 2015). Unlike the other business
organization the marketing of the bank is different because the bank is not similar to the usual
bank, but is devoted to serve the purpose of the wellbeing of the people. However, the following
report focuses on the complete marketing plan of the organization in order to sustain in the
market and perform the philanthropic deeds to the society.
II. Situational Analysis:
A. Internal Environment:
Marketing Goals and Objectives:
The current marketing goal of the organization is to make the existing research centers on
cancer aware of the philanthropic objectives of the firm. For the achievement of the marketing
goals of the organization, the bank has initiated the strategy that is called “Tell Someone Else”.
The initiative emphasizes on the social media campaign as the marketing of the organization and
delivers the message for referring the firm to the other people. As the bank is the charitable firm

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it does not tell people to purchase the service to the people, rather it believes in the indirect
marketing of the organization.
Marketing Strategy and Performance:
The current marketing strategy for the organization refers to the profit differentiation
theory. According to this theory the use of the profit of the firm is emphasized. The theory for
the bank denotes the consumer choice of the profit provided by the organization. The marketing
stra6egies of the organization is indicated towards the choice of the consumers regarding their
use of the profit. In the other hand, the primary customer of the bank is the world’s wealthiest
men, therefore, there is no doubt the performance line of the bank is going up.
Organizational Resources:
The financial capacity of the organization is strengthen by the pledge of the 139 high net
worth people with $365 billion (Bankofcancerresearch 2017). Therefore, the firm’s financial
resources are the people having high net worth. On the other hand, the financial capital of the
organization is provided by the key stakeholders who can be supposed as the human resource of
the firm. Therefore, the relationship of the firm with the suppliers is good and strong. However,
the relationship can change with the financial status of the suppliers and there is also the chance
of new entry in the group of the suppliers.
Current and anticipated cultural and structural issues:
In terms of the achieving the marketing objective, the effectiveness of the marketing
strategies imply that the business mode of the firm is designed for the nonprofit marketing. In
addition, it must be noted that the service is the product of the organization that further refers to
the charitable purpose of the same. The organizational culture of the organization is certainly

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self-sustaining in order to serve the purpose and achieve the set goal as a charitable nonprofit
bank for the research of cancer. The effectiveness of the organizational culture and the structure
of the organization are evident from successful customer orientation and business operation of
the firm.
B. Customer Environment:
Current and Potential Customer:
The current and the potential customer of the bank are the wealthiest people of the
society. It must be noted that the people of high net worth are the strength of the organization.
The data from the company website states that Giving Pledge, the group of the world’s
wealthiest individuals and the families are the committed customers as well as the donators of
the firm for the noble cause of serving the society in terms of the cancer research (The Giving
Pledge 2017). In addition, the other customer of the bank includes the general people of
Australia, retailers, wholesalers and others (Ryals 2013).
Utilities of the Product:
Since the organization chosen for the report is a bank and specially a charitable bank, it
provides financial service to the customers. The organization s general bank like other banks, but
the only exception is that the profit of the bank goes for the research work for cancer. The
customers of the firm are provided with the options for choosing their profits for their own use or
donating the profits for the cancer research. However, the consumers of the firm are also
provided with the options of the other bank that does not ask (optional) them for donating their
profits to some other purpose. Therefore, the purchasing behavior of the consumer is based on
the marketing strategy and the service of the firm.

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Placement of the Products:
As stated above that the product of the bank is the financial service of the firm provided
to the consumers. The customers of the bank purchase the service for the retail business loan,
personal loan, home loan and others from which the bank earns profit through the percentage of
rate provided by the consumers. The present trends of the consumers purchasing behaviors are
making the bank lean towards the collaboration with the other established bank. In this order the
organization will acquire more potential and existing customers.
Purchasing Behavior on the Basis of Time:
The purchasing behavior of the customers of the bank is based on the promotional event
of the firm. In short, the effective marketing of firm is capable of influencing the behavior of the
consumers in terms of purchasing. There is no factor based on the time, but there works as an
influence of the social issues and the same is conveyed to the customers through the social
media. The competitive advantages of the organization are depended on the acquisition and
dependency of the customers on the technological aspect of their lifestyle (Berger et al. 2012).
Therefore, the lifestyle of the consumers is one of the factors that affect the purchasing behavior
of the customers.
Reason for Customers’ Choice of the Firm’s Product:
As stated above that the purchasing behavior of the customer is based on the marketing of
the service of the bank. The bank is new to the market, and therefore the factor of brad loyalty is
not valid for the firm. However, the firm is general to the other banks and provides all the genera
financial service to the consumers. The investors of the bank consist most of the wealthiest from
the global context. Therefore, brand image of the organization is one of the major factors for
influencing the customers’ purchasing behavior (Berger et al. 2012). On the other hand, people

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with a desire for serving the society will chose to purchase the service of the bank in order to
donate the profit to the cancer research.
Probable Competing Values for Firm’s Service:
The competing values and behavior of the firm is capable of the ensuring the acquisition
of the potential but non-customer to purchase the service of the bank. Te organization is new in
the market and therefore has not been able to as much customers as the other existing bank in the
market. Hence, there is high chance of acquiring more potential customers with the purchasing
ability for the bank’s service. The organization must meet the need and preferences of the mass
consumers in order to achieve the sustainability of the business operations (Gropp, Gruendl and
Guettler 2013). The firm must design its marketing strategy in terms of the availability and
reachable nature of the same to the mass people. In addition, the bank must provide the non
customers with the wider vision and long term objective of the bank as well as the profit of the
customers for the acquisition and the permanency of the same.
C. External Environment:
PESTLE Analysis:
The PESTLE analysis of the organization will help evaluating market environment of the
organization in terms of the competition (Del Marmol 2015).
Political: Warming relation with America, New Zealand, Canada, China and other Asian
countries. The country has good and strong relation with most of the countries in the world. The
foreign relation department under the international relation indicates the good political condition
of the country.
Economical: Evolving economy and world’s wealthiest people as the economical fund resource.

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Social: Cosmopolitan and diverse cultured society along with the acceptance and support for the
charitable purpose.
Technological: Social media being one of the essential tools for the marketing of the
organization, the technological advancement will always be the opportunity for the firm.
Legal: Effective laws by the government in both the national and international context is
advancing in terms of the cancer treatment. In addition, the legal affair of the country is also
focusing on the prevention of the tobacco, alcohol and food casing cancer.
Environmental: Regulations on the use of the water and the land and their impact on the
environment.
III. SWOT Analysis:
The SWOT analysis helps in analyzing the resource and capabilities of the organization
(Atoom, Malkawi and Al Share 2017).
A. Strength:
The strength of the organization is the noble purpose for which the bank is a nonprofit
charitable organization. The objective of the bank is to research on the cancer in order to find
better cure and treatment of the same.
B. Weakness:
The weakness of the bank indicates the newness of the bank in the Australian market of
financial service. Due to the new entry, the bank has not gained much importance and brand
loyalty in the mind of the customers. In addition, the brand image of the firm is not strong.

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C. Opportunities:
The firm has the opportunity to gain position in the competitive market of the Australian
financial service by collaborating with the other existing bank in the same. On the other hand, the
charitable purpose that the bank serves from its profit can be another opportunity for the firm to
earn more consumers.
D. Threats:
The opportunities on the reverse side can be the threats to the bank’s business operation.
The collaboration of any established bank can also cause the firm to lose its potential and
existing customers. In addition, it is not to forget that there are multiple established and banks I
the marker of Australia and all of them are stable in their business operations as well as
sustainable future.
E. Development of Competitive Advantage:
For gaining the competitive advantages in the potential market, the firm ensures that all
the strengths are converted into the opportunities in order to create the capabilities in serving the
needs of the customers. The basic strength of the organization is the unique purpose of using its
profit to the social cause of cancer. The cancer research requires funds that are provided by the
bank and the development of the research will supposedly help in finding better treatment and
cure for the disease. The spread of the noble and unique purpose of the firm will definitely
acquire more customers to the firm. On the other hand, collaboration of the firm with the other
bank can acquire more potential customers to the bank, as because the collaboration will enable
the customers to trust the new firm (Mondal and Ghosh 2012).

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F. Strategic Focus:
The strategic focus of the organization is important for the effective marketing of the
service provided by the same. The strategic focus is the major and primary determinate of the
marketing plan (Grant et al. 2014). The basic focus of the organization is to gain public support
for the collection of fund for cancer research. The strategic focus therefore is directed towards
the philanthropic activities through the providence of the financial service to the consumers.
IV. Marketing Goals and Objectives:
The marketing goal of the organization is based on the fund and support raising purpose
of the bank. However, the marketing of the organization focuses on the successful businessn
operation o the same.
Goal A:
Gain support from the public for the cancer research.
Goal B:
Raise fund for the cancer research.
V. Marketing Strategy:
A. Target Market:
The marketing strategies of the organization are based on the goal set by the same. It is to
be noted that the firm is a non-profit and charitable bank. Therefore, the marketing plan of the
organization does not focus on the profit of the same. The strategies for the marketing of the fund
and support rising for the cancer research are targeted towards the mass. The target market of the

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organization is the wealthy people of the country (Shams, Gunasekarage and Colombage 2013).
The target market is therefore is no identified by the basic needs or preferences of the consumer.
B. Product Strategy:
The product is service product for the bank. The charitable and-profitable bank of
Australia provides its service with the strategy of gaining profit for the donation for the cancer
research. The strategy of the product provides the consumers with the option of donating the
profit gained from the bank’s service to the cancer research.
C. Pricing Strategy:
The pricing strategy of the bank is again based on the main objective of the bank. On the
other hand, the bank not being a nationalized one provides fewer facilities to the customers as
per the set objectives of the same (Wruuck et al. 2013).
D. Supply Chain Strategies:
Supply chain strategies of the bank refer to the cash flow of the organization (Hasan
2013). The bank provides financial service to the customers in terms of savings, providing loan,
ledge and others and receives the cash flow from the investors as well as the customers.
E. Integrated Marketing Communication Strategy:
The integrated marketing communication refers to the promotional strategies of the firm
(Armstrong et al. 2014). The report repeatedly mentions the social media as one of the
advertising strategies of the firm. In addition, the organization emphasizes on the verbal
communication in terms of the promotional strategy by telling people about the existence and
purpose of the bank.

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VI. Marketing Implementation:
For the effective implementation of the marketing strategy the organization must
approach to the structural change within the same (Morgan, Katsikeas and Vorhies 2012). The
implementation needs to be approached at every level of the organization. The organization must
ensure the engagement of the executives, directors, managers and the staffs for the successful
and effective strategic implementation. In terms of the collaboration the implementation team
must ensure that the existing customers of the collaborating bank have the knowledge of the
purpose of the collaboration. On the other hand, the organization must ensure the proper control
over the formal and informal aspects of the implementation (Keil, Rai and Liu 2013). The
control must include the control of marketing mix as well as the employees (Singh 2012). In
addition, the marketing audit is also necessary after the implementation of the plan in order to
assess the effectiveness of the marketing plan.
VII. Conclusion:
It can be concluded from the above report on the marketing plan of BCR that the
organization needs to focus on its brand image in order to get the customer loyalty and
permanency. The marketing plan will enable the organization for adding value to the purpose of
serving the society in the context of cancer research. However, the marketing objectives of the
organization are focused on the fund and support raising for cancer research which need more
time.

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