Service Product Marketing for Commonwealth Bank

SERVICE PRODUCT
MARKETING
Running Head: SERVICE PRODUCT MARKETING
0

SERVICE PRODUCT MARKETING 1
Executive summary
This report talk about the Commonwealth bank. This organization has a very good position in
the market of Australia. It is a well-established organization that refers many services to
customers. This organization target the all type of customers as it is necessary in today’s
competitive environment. It support the organization to gain the large number of customers in
the market. The following report highlight the services of the organization, market analysis of
the organization, service performance analysis, and recommendation for the future.

SERVICE PRODUCT MARKETING 2
Table of Contents
Executive summary....................................................................................................................1
Introduction................................................................................................................................3
Commonwealth bank.................................................................................................................3
Premium business services and wealth management.............................................................3
Target market.............................................................................................................................4
Service performance analysis.....................................................................................................5
Place/distribution....................................................................................................................5
Promotions..............................................................................................................................5
Recommendation for place/distribution.....................................................................................6
Recommendation for analysis of market....................................................................................7
Analysis of market size..........................................................................................................7
Analysis of market trend........................................................................................................7
Conclusion..................................................................................................................................8
References..................................................................................................................................9

SERVICE PRODUCT MARKETING 3
Introduction
Commonwealth bank offers a range of credit card to retail and corporate sector Abul,
Chamhuri, & Basri, 2011). It has profitable growth in corporate card and retail segment. This
is also known as a main part for the strategic direction of bank. The award scheme of
organization introduced by vouchers, gifts, and miles. This is an effectively established
organization that uses many marketing opportunities to gain the good number of market share
(Jeon, Olivero, & Wu, 2013). This support the organization to attract the large number of
customers. This paper discuss about the commonwealth bank with services. It is a very
effective brand that provided services to customers. Further it covers analysis of target
market, service performance analysis of Commonwealth bank and recommendation.
Commonwealth bank
Australia commonwealth bank is a multinational bank with businesses in Asia, New
Zealand, UK, and USA. Commonwealth bank provides many financial services that include
business and institutional banking, retails, superannuation, management of funds, insurance,
services of broking, and investment. This is also known as a largest Australian listed
organization on the Australian Securities exchange in 2015 by brands consisting ASB bank,
Bankwest, Commonwealth securities, Colonial first state investment, commonwealth
insurance and Commonwealth securities. It is also recognize as the biggest bank in Southern
Hemisphere. It was founded in 1911 by government of Australia and privatised in 1996. This
is also one of the big four banks in Australia with ANZ, National Australia bank, and
Westpac. In 1991 it was listed in the Australian Stock exchange (Echchabi & Aziz, 2012).
This organization delivers services to personal and business customers.
Premium business services and wealth management
Premium business services split in two department that are institutional banking &
markets, and business & private banking. It consists areas of bank that delivers services to
institutional clients and global markets (Khraim, Al Shoubaki, & Khraim, 2011). Premium
business services includes bank area that deliver facilities to customers of business and
customers of private banking. Management of wealth brings combinedlly groups fund
management platform, insurance, master funds, and financial advice that support business.
Wealth management part is Colonial first state global asset management and commlnsure.
This organization is a biggest retail bank that offer a range of services and products to
customers including credit cards, loans, and saving accounts. This organization has the