Marketing Report: ANZ Banking Group - Internal & External Analysis

This marketing report provides a comprehensive analysis of the ANZ Banking Group, focusing on its internal and external environments. The report begins with an executive summary and an introduction to ANZ, followed by an in-depth internal analysis including a SWOT analysis to identify strengths, weaknesses, opportunities, and threats. The external analysis utilizes a PESTEL framework to examine political, economic, social, technological, environmental, and legal factors impacting the bank's operations in Australia. The report then offers recommendations, identifying the target market, describing a new product/service offering (a 'Product Bundle' of financial services), and suggesting relevant marketing mix strategies. The report concludes with a summary of key insights. The report covers various aspects of the banking industry and provides a detailed analysis of the marketing strategies to be used by ANZ to capture the attention of the customers and to effectively market its new service.

Marketing Report
Introduction to Marketing
ANZ Banking Group

Introduction to Marketing 1
Executive Summary
The aim of this paper is to develop an understanding of the various skills and knowledge
required for analysing the internal as well as the external environment of any organisation and
identifying the various innovative offering of the company to the customers in terms of
innovative products and services based upon the outcomes of the environmental scanning. The
report will highlight the internal analysis of ANZ Banking Group, the external analysis of
Australia, target market for the new product or service to be launched by the organisation. The
later part of the report will have its focus upon the marketing strategies that will be used by ANZ
to have effective marketing of its new service and to grab the attention of the customers. The
report will sum up with a concluding paragraph highlight insights of the report.

Introduction to Marketing 2
Contents
Executive Summary.........................................................................................................................1
Section 1: Introduction and background to the company................................................................2
Section 2: Analysis of the marketing environment (external & Internal).......................................2
Internal Analysis..........................................................................................................................2
SWOT Analysis.......................................................................................................................2
External Analysis.........................................................................................................................4
PESTEL Analysis........................................................................................................................4
Section 3: Recommendation............................................................................................................6
A. Target Market.......................................................................................................................6
B. New product/new services description...................................................................................6
C. Marketing Mix relevant strategies..........................................................................................7
Section 4: Conclusion......................................................................................................................9
References......................................................................................................................................10

Introduction to Marketing 3
Section 1: Introduction and background to the company
The Australian and New Zealand Banking Group Limited, well known and recognized as ANZ is
one of the leading banks of Australia and New Zealand which governs a strong market share in
the banking industry. There is a strong presence of ANZ in terms of market capitalisation in
Australia. There is also a dominance of ANZ Bank with its strong retail as well as commercial
banking services and operations. There is continuous use of innovative technologies and
personalization and customization of services in the banking sector. The company was
established in the year 1835 and its headquarters are established in Melbourne. The organisation
has vast business operation in almost thirty two nations with around more than 50,100
employees. The organisation serves institutional clients, corporate clients, small businesses and
retail businesses by its vast banking as well as financial services. There are customers who are
from varied social status, age groups as well as backgrounds demands for customized banking
services (ANZ, 2017). Thus, the ANZ is planning to offer these personalized services to the
clients and there the report will present the marketing strategies for offering the new services to
the varied client groups.
Section 2: Analysis of the marketing environment (external & Internal)
Internal Analysis
SWOT Analysis
Strengths
 ANZ is one of the largest banks of New Zealand and the fourth largest bank in Australia
from the market capitalization aspect.
 The product portfolio of ANZ bank is highly diversified and there is reduces risks of
operations and business because of number of diversified products.
 The company owns a strong and major market share in Pacific nations, New Zealand and
Australia.
 The company holds a strong financial position which offers resilience to the adverse
market conditions and save the bank from major threats.

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 The bank offers various services that comprises of payment solutions, investments, asset
finance, banking services and financial services.
 There are almost near to 50,100 employees of ANZ Bank across the world which is the
major strength of the organisation (Chuang and Hu, 2015).
Weaknesses
 In comparison with other banks, the global exposure and visibility of the ANZ Bank is
limited which can be considered as a big weakness in such a continuously globalised
world. The lesser the brand has a global recognition; the fewer are the chances for
development and growth. Thus, limited oversees expansion is one of the weakness for
ANZ Bank.
 There is a strong competition to the bank from the already existing market players and
thus it makes difficult for ANZ to increase its market share.
Opportunities
 The ANZ Bank is the first bank of Australia that has received a license for conducting
retail business operations in China and thus the organisation several opportunities to
expand in various other regions of China as well as the other major oversees nations for
expanding the business and attaining a global reach.
 There are high opportunities for ANZ Bank to grow and have a strong presence in the
markets of Thailand.
 There are opportunities for ANZ Bank to increase its product portfolio by offering
various other products and services so that new markets can be captured (Ameme and
Wireko, 2016).
Threats
 There is a great threat of the sudden break down of the company and deteriorating
economic conditions as being operating in a banking sector, the economic conditions of
the nation is the biggest factor which can pose a great threat for the organisation.
 There is also great threat posed by the continuous fluctuations and the changes taking
place in the banking system of the country

Introduction to Marketing 5
 Intense competition from the international banks which are strengthening their roots in
the Australian market.
External Analysis
PESTEL Analysis
Political Factors
There are high regulation, laws and rules in Australia and there is a change in the Government in
a fixed time period thus there is high political risk of restructuring of the regulations and laws in
the nation. There is a competent and skilled supply of labour in the country but at very high cost
and thus it makes difficult to acquire labour. The nation possess a stable political environment
that can help the businesses to boom and grow with an increasing rate. For the commencement of
any new service it is essential to have an understanding of the various political factors as ANZ
operates in the banking sector and there are high rules and regulations both domestically and
internationally that govern the business functions of the organisation (Business Queensland,
2017).
Economic Factors
From the economic point of view, Australia has a robust economic growth rate which is higher in
comparison with other OECD nations. The economy of Australia gives a high competition to that
of UK and US. Rate of unemployment is low and there is high level of economic sustainability in
the country. In past few decades, Australia has realised a significant growth in terms of economic
development and the country is well recognized as high-income economy (Market Research
Report, 2017). From the investment point of view, there is realized some lack in investments and
therefore the nation there is more dependency upon the other overseas countries for innovative
technologies. Inflation is very low and the individuals possess a high purchasing power.
Therefore, there are enough opportunities for ANZ Bank to have higher customer base for its
new services (Zikmund, et al., 2014).
Social Factors
Australia is a multicultural society that has a diverse set of cultures. The level of corruption in
the nation is also very low that supports the growth of the businesses as well as increased number

Introduction to Marketing 6
of foreign investments in the country. There are vast opportunities present for all kind of
business and services to grow in the regions of Australia. The level of education is also high
which offers competent and qualified workers to the industries which are capable in undertaking
the business operations in an effective manner (Market Research Report, 2017). Because of high
level of income, the people also need advisor services and there is also a need of various
investments products. Thus, from the social pint of view, ANZ Bank can have a better market for
its new services. There is also a strong and improved relationships with the overseas nations that
support in maintain a social balance in an international world (Fong, Lo and Ramayah, 2014).
Technological Factors
There is extensive use of new and innovative technologies in Australia in all its businesses and
industries. There is an extreme support of two major organisations for boosting the technological
development in the country i.e. CSIRO i.e. The Commonwealth Scientific and Industrial
Research Organization and DSTO i.e. The Defense Science and Technology Organization. Both
the organisations have huge research and development practices which offer new platforms to
the Australian companies to perform their businesses with updated and pioneering technologies
in the business operations. There is also increasing use of internet and IT in almost all the regions
of the country that can help ANZ to enhance its markets share of new services through the use of
internet technology (Business Queensland, 2017).
Environmental Factors
To save the country from the various hazardous substances, unwanted waste, pollution and other
things that hamper the sustainability of the environment, there are innovative and continuous
efforts by the government as well as by the business organisations. For supporting the
environment sustainability of the country, there is a unique ecological system which the
government take use for maintaining a healthy environment. There are several laws and
regulation which restricts the companies to undergo any such operation that have negative
impact upon the environment and its sustainability. Thus, it is essential that all the activities and
operations must be eco-friendly and save the natural resources as much as possible (Dwyer and
Tanner, 2002).
Legal Factors

Introduction to Marketing 7
The businesses are provided with high level of freedom for performing business and trade.
Because of supportive laws and regulations there is increasing amount of foreign investment as
well as there are laws that support the new business development and entering of MNCs in the
Australian markets. Behind the continuously flourishing business industry and acceptance of new
products and services there is a vital role of the potential and supportive legal factors (Business
Queensland, 2017).
Section 3: Recommendation
A. Target Market
From the various market segmentations, the key target market and target customers of the
bank are from the young, as well as the middle age group who are in a need of banking
and financial services. The old age group are also the customers of the bank as they also
need a number of insurance as well as other investment services. There are various retail
businesses, institutions, corporate entities and small businesses that are the target
customers of the ANZ. The people also want various customized financial and advisory
services which have huge saving and seeking for good investments opportunities and
products. Thus, from the psychographic point of segmentation also, the key target
customers of the bank are one the one that are highly educated and people from upper
class with investment perspectives (Zhou, 2017).
B. New product/new services description
The ANZ bank is one of the most innovative banks in terms of technology and expertise
in offering pioneering services and products to the customers for meeting their utmost
banking and financial needs. The new services and product which ANZ bank will be
offering to the customers is the “Product Bundle” where the customers are offered with
investment products (More, 2016). A bundle is a group of two or more services or
products which are provided to the customers by which the customers opting for that gets
better value in comparison with the products if they are purchased individually (Sunderji,
2017). Product bundling is the approach of tying various services and products together
for developing an attractive package for the various customers according their personal
needs (Rao, et al., 2017). NZ bank is about to offer the customers with a package of

Introduction to Marketing 8
various products that offers some kind of incentives to them. There are offers such as
getting products on discounted process, rewards, and additional non-monetary benefits.
The product bundle comprises of various financial services as well as products which are
offered for having increased sales of the products and services as well as benefitting the
customers and retaining them for a longer timed period (Titheesawad and Kijbooncho,
2015).
C. Marketing Mix relevant strategies
Product
The products are highly impressive, innovative and customized in nature as they are been
offered by taking into consideration the individual need of the customers. The bank is
about to launch its new service of product bundle which is an open bundle where the
customers are required to opt for a product which is compulsory and the other products
are of the customers’ choice which h they can have a discussion with the relationship
managers for better understanding of the various benefits associated with that product
(rao, et al., 2017). The basic aim of the bank behind the marketing of this new service is
to give value benefits to the existing customers as well as have increased sales of the
various investment products that are not much valuable and attractive when they are
offered individually (Proctor, 2014). Thus, to fetch the interest of the customers as well
as earn higher revenues, the bank is offering several kinds of product bundles to the
varied group of customers in order to maximise the sales. In accordance with several
factors such as income level, education, age group and other factors, the product bundles
are prepared so that it can have a customized touch and individuals can be attracted
towards this service of the organisation (Turnbull and Valla, 2013).
Price
The product bundle are offered at very nominal prices such as the bank will offer the
products and services in the product bundle at a discount of twenty percent from the
prices they are been offered individually as well as there will also be discounted prices to
the old customers so that they can be more valued and benefitted with the various
services of the banks. The customers will also get additional benefits in future by getting

Introduction to Marketing 9
the services at lowered interest rates and prices once they opt for this service initiated by
the bank. Thus, from the overall perspective, ANZ will be taking sue of discounted price
marketing strategy for fetching the attention of the customers (Armstrong, et al., 2014).
Place
The places selected by the bank for its new product is basically Australia and New
Zealand as these services can be offered to the customers by both online as well as by
visiting the branch located in the Australian and New Zealand regions. The customers
from various regions that are far from the located branches can also take benefit or buy
these services of product bundle by applying online. The customers can access the service
through the mobile application or through internet banking by applying for the services
and paying the nominal charges required to buy the services. It is one of the service
which can benefit the customers from diverse regions without any limitation of regional
distances (Sheth and Sisodia, 2015).
Promotion
For the promotion of the new services launched, ANZ will take use of several
promotional techniques and tools for maximising its sales as well as reach to the
customers (Baker, 2014). The first promotional marketing strategy will be sending mails
and messages regarding the notifications about the newly launched service and its
benefits to the existing customers. There will also be an update in the mobile application
as well as on website regarding a separate column for the new services launched (Kumar
and Bosangit, 2014). The organisation will also take use of the digital media as well as
the social media such as by advertising on the television, sharing videos related to the
services on YouTube as well as pop-up notification on various social media platforms
(Baker and Saren, 2016). To have extended promotions, the organisation will take use of
mediums such as newspapers as well as hoarding so that the maximum number of the
masses can be aware about the newly launched services of product bundling (Iacobucci,
2013).

Introduction to Marketing 10
Section 4: Conclusion
Every organisation needs expansion and diversification whether small or large for achieving long
term sustainability in such a competitive business environment. ANZ bank also is one of those
renowned organisations that have vast business operations and strong position in the market. But
to capture a new market and increased revenues, there was a planning to launch a new service
named, ‘Product Bundle”. From the various insights as well as other evaluations from the report,
it can be said that the Australian market is highly efficient and potential for the growth of the
new services launched by the bank. And thus, by focusing upon the strengths of the organisation,
ANZ must effectively launch its service to having increased market share.it is also concluded
that the marketing strategies will help in effective visibility of the service and there can be
attained high customer base with continuously increasing demand.

Introduction to Marketing 11
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Heidelberg.

Introduction to Marketing 12
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