Strategic Marketing

Strategic Marketing 0
Title: Strategic Marketing
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Strategic Marketing 1
Contents
Introduction................................................................................................................................2
Company’s Background and Issues to be Resolved..................................................................2
Cost-Cutting through Brand Advocacy......................................................................................3
High Reach and Cost Reduction through Social Media.............................................................4
Conclusion..................................................................................................................................4
References..................................................................................................................................6

Strategic Marketing 2
Introduction
This study aims to discuss the ways of cost reduction by utilizing social media
marketing with a focus on turning the consumers into the brand advocates, in the context of
STANDARD CHARTERED BANK COTE D'IVOIRE. Brand advocacy is a kind of brand
loyalty when the consumers advocate the service and products of a brand to the others. They
are different from the influencers as they are not paid for influencing the customers, rather
doing it for their own pleasures. Influencers are the professionals whom people ask for
guidance, whereas brand advocates are the everyday people. These common people help in
marketing by promoting the brand out of love. In this effort, social media offers the most
cost-effective benefit by connecting the society people with the help of a virtual media. It
enables interaction between individuals in a group and even community and helps to figure
out the people of common interest. Social media provides a channel for sharing a common
interest between people.
Company’s Background and Issues to be Resolved
STANDARD CHARTERED BANK COTE D'IVOIRE is a sister company of the
Standard Chartered group, located in the region of West Africa. The parent company is well
known for its operation in the field of corporate and institutional banking, though it also
operates retail banking. In spite of being a British multinational bank, the retail sector is not
conducted in its base country, the UK. Most of the retail banking is operated in their branches
located in Asia, Africa, and the Middle East. The branch at Cote d'Ivoire was established in
2001 (The Guardian, 2012). The partners of the branch are the government, local institutions,
and corporate. The core value of this organization lies in pleasant customer experience. The
strategic goal is increasing good customer experience by welcoming customer inquiries,
feedback, and suggestion.