The banking and financial service of Australia

Running head: MARKETING
WESTPAC
Marketing
8/29/2019

MARKETING 1
Table of Contents
Introduction................................................................................................................................2
Task 1.........................................................................................................................................2
Overview of Service...............................................................................................................2
Competitive Information........................................................................................................2
Environmental Scanning........................................................................................................3
PESTLE Analysis...............................................................................................................3
Porter Five Force Framework............................................................................................4
Demand Forecasted................................................................................................................5
Market Segmentation.............................................................................................................5
Target Market.........................................................................................................................5
Positioning Statement.............................................................................................................5
Conclusion..................................................................................................................................6
References..................................................................................................................................7

MARKETING 2
Introduction
Marketing is said to be the set of activities adopted by the business for the promotion of
service or product to the customer. Marketing is comprised of advertising, selling, and
delivering services to the end user (Kotler, Burton, Deans and Armstrong, 2015). The aim of
this section of the report is to discuss regarding the environment, industry, and competition
landscape of Westpac Bank and its insurance service in the Australian market. In addition to
this, the paper is highlighting the strategies that Westpac has adopted to sell its insurance
services properly like STP Analysis that is Segmentation, Targeting, and Positioning.
Task 1
Overview of Service
Westpac Banking Corporation is generally called as Westpac, under the banking and
financial service of Australia with headquarters in the Sydney. The bank was introduced in
1817 (Westpac Banking Corporation, 2019). The services delivered by the bank are consumer
banking, investment management, insurance and finance, credit cards, mortgages, private
equity, corporate banking, private equity, and global wealth management (Westpac Banking
Corporation, 2018). Westpac bank offer different types of insurance like car insurance, home
insurance, content insurance, travel insurance, business insurance, etc. It offers quick claims,
options for flexible payment and variety of General Insurance to its clients. The motive
behind offering range of insurance services to the clients is to help them in asking for claims
at the time of any uncertain activity, etc.