Marketing Essentials of Barclays Bank: A Comprehensive Analysis

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Marketing Essentials of Barclays
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Executive Summary
Industrialisation has been increasing day by day, which has resulted in occurrence of
cutthroat competition in the market. For surviving in this kind of competitive environment,
there is requirement of proper marketing essentials and marketing mix tools. One of the
world’s leading bank organisation, Barclays has been facing some of such issues in its
business. Through effective use of marketing essentials and marketing mix tools its can gain
competitive advantage and achieve its objective effectively.

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Table of Contents
Introduction................................................................................................................................4
LO1: Role and responsibilities of market function (P1 & P2)...................................................4
Introducing concept of marketing, with future and current trends.........................................4
Overview of diverse marketing processes..............................................................................4
Role and responsibility of marketing manager of Barclays...................................................6
How marketing influences and interrelates with functional departments of Barclays...........6
Value and importance of marketing role for Barclays...........................................................6
Conclusion..............................................................................................................................7
LO2: Ways where organisation use elements of marketing mix to attain business objectives
(P3).............................................................................................................................................7
Ways in which Barclays applies marketing mix to marketing planning process to attain the
business objectives.................................................................................................................7
How it differs from other organisations, or may do better by citing examples.....................9
LO3: A basic Marketing plan (P4)...........................................................................................10
Mission, vision and objective of Barclays...........................................................................10
Pestel analysis......................................................................................................................11
Porters’ five forces analysis.................................................................................................12
SWOT analysis.....................................................................................................................13
VRIO analysis......................................................................................................................14
Marketing strategies to be carried by 2019..........................................................................14
Segmentation, Targeting and Positioning of Barclays.........................................................15
Market controls and tactics..................................................................................................15
Financial performance of Barclays......................................................................................15
Conclusion................................................................................................................................16
References................................................................................................................................17

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Introduction
In the rising era of industrialisation and business, marketing has been found to be aiding
equipment for the organisations and business. With the help of marketing, the business
environment of an organisation and the behaviour of the competitors can be easily assessed
for delivering better performance in the organisation. Barclays is a public limited, UK based
company, which offers banking financial services. In the succeeding report, the applications
of marketing essentials and marketing strategies in Barclays will be portrayed for better
understanding of the concepts. All the relevant aspects of marketing will be highlighted in the
following report. In finals sections, a marketing strategy will be recommended for Barclays
for better functioning in future days.
LO1: Role and responsibilities of market function (P1 & P2)
Introducing concept of marketing, with future and current trends
The concept of marketing is an emerging concept and ideology, used by the business
organisation for gaining reputation and acquiring its desired organisational goals and
objectives (Singh, 2012). As per this concept, the business objectives and targets can be
attained in an organisation by providing quality and satisfactory services and products to their
customers. The decisions regarding marketing and business should be taken by considering
the customers’ demands and the strategies used by the rivals present in the market (Tran and
Tian, 2013). This will provide a competitive advantage to the organisation and will help in
running the business operations, in an expedient manner.
The trend of marketing always changes time to time. This transformation or change in the
marketing trend is brought due to the changing demands and requirements of the customers.
Barclays will have to set its marketing strategies according to the current and future trend of
the market environment (Sohel et al. 2014). The marketing trends can be formulated by
referring to several concepts. These concepts are production, marketing, product, selling and
societal concepts. The current trend of marketing comprises of categories like social
marketing, relationship marketing and the green marketing. On the other hand, the future
trend comprises of digital marketing, content marketing and customer branding.

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Overview of diverse marketing processes
In Barclays, the organisational and marketing operations are carried out in the organisation,
by following the series of diverse marketing process. This series of marketing processes are
called as marketing processes, which are helpful in functioning properly for achieving certain
targets or accomplishing any task or mission (Singh, 2012). The marketing process can be
understood in the succeeding section.
Figure.1- Overview of marketing process
(Source: D2myx53yhj7u4b.cloudfront.net, 2019)
Mission- The mission of Barclays is to create opportunities for its client and customers. All
the functions and operations of the organisation are carried out by keeping this mission and
motive in mind.
Analysis of situation- In Barclays, the surrounding environment and situation of its
competitors is analysed for carrying out further activities in an appropriate manner. Barclays
analyses the market situation by assessing the position of its rivals and acquiring the data
regarding the customers' demands and requirements (Silver et al. 2012).
Marketing strategy- After analysing the situation of the market and surroundings, marketing
strategies and plans are formed accordingly. Barclays emphasises on taking care of its
premium as well as regular clients and try to provide them with good and upgraded services.
This is attained through effective planning and marketing strategy (Home.barclays, 2019).
Marketing mix- All the principle and elements of marketing mix of Barclays are emphasised
while offering service to its customers and clients (Singh, 2012). However, the focus is on

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products, people and pricing, as they are the first priority for the customers as well as for the
organisation.
Implementation and control- In Barclays, the employees are motivated and inspired
delivering better performance. This helps in executing and implementing the plans and
strategies formed by the organisation, in an effective manner (Dälken, 2014). After
implementation, the results are monitored for establishing comparison between the expected
vs. actual outcomes of the marketing processes.
Role and responsibility of marketing manager of Barclays
The functions of a Marketing manager include developing the marketing strategy and
managing all marketing activities within the department. In Barclays, the overall review of
the marketing department is done by the marketing manager. These mangers have an
excellent communication and inquisitive skill that helps to coordinate with other departments
(Berthon et al. 2012). New business opportunities identification of the market activities is
done by the manager, to help grow the business and increase the market value of the
company (Dulčić et al. 2012). The responsibility of marketing manager at Barclays also
comprises of understanding the competing and the economic characteristics of a sector,
develop new products and to understand the strategies of the rivals, and to act accordingly.
How marketing influences and interrelates with functional departments of Barclays
The strategy of good marketing in a company like Barclays, leads it to success. This is useful
to maintain a good and healthy environment, which brings goodwill for the company. The
strategy of good marketing affects the other departments also and helps effectively to
increase the sales of Barclays (Huang and Sarigöllü, 2014). The interrelation among the
departments helps to work efficiently, without many problems. This interrelationship helps in
better decision making and improve the work culture of the company (E. Dobbs, 2014). The
relationship between the production department and marketing department ensures the proper
production of the goods as per the needs and demands of the customers. At Barclays, the
interrelation helps to develop the required skills and determine the investment in marketing
activities.
Value and importance of marketing role for Barclays
Proper marketing of any product can help to reach the targeted market. It is important for
Barclays, to use marketing to promote the business and to make high sales. The role of
marketing is to increase the coverage of the market, so that the products could be reached to a

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vast area. This helps in increase in number of the satisfied customers and act as a positive
feedback towards the company. The role of marketing helps to make a bonding with the
customers and the product (Armstrong et al. 2015). However, the good marketing techniques
help the customers to realise why your products are better and what separates them from their
rivals. Marketing role for Barclays reduces the cross-functional communication barrier and
increases the sales of company.
Conclusion
Marketing creates a base for efficient working in the company. The interpersonal relationship
can be improved by the management by taking proper and appropriate steps. The functional
department such as production, finance, human resource development, etc. helps to increase
the sales of the company. These departments also help to increase the skills of the employees
and meet the requirements of the customers. The overall responsibility is on the marketing
manager to maintain the coordination between the marketing activities with other functional
departments. The marketing department with coordination with financial department helps in
prediction of the future sales, and helps to increase these sales. The concept of marketing is
very important for the employees to work as per the vision of the company.
LO2: Ways where organisation use elements of marketing mix to attain business
objectives (P3)
Ways in which Barclays applies marketing mix to marketing planning process to attain
the business objectives
Barclays practices 7Ps of marketing mix instead of 4Ps in its internal marketing. By the help
of these marketing mix tools, the operational strategies of Barclays are improved and results
that are more refined are achieved in business. The 7Ps of marketing mix, implemented in
Barclays can be understood by followings:

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Figure.2- 7Ps of marketing mix
(Source: Mzlsf3gvfff1j7iq42e0dgc1-wpengine.netdna-ssl.com, 2019)
Product- The products or services of Barclays are designed according to the demands and
needs of the customers. Barclays conduct research for assessing the place and people
demanding the products. This helps in provision of best suitable services and products to its
clients and customers (Huang and Sarigöllü, 2014). The products and service provide by
Barclays are cash pooling, service of digital banking, corporate accounts, reward cards and
many type of banking services.
Price- The pricing strategy of Barclays is constructed in such a way, that it manages to attract
the customers towards its products and service as well as facilitate good profit earning by the
company (Home.barclays, 2019). The price of the products and service are set by evaluating
the buying patterns of the customers and the prices offered by the rivals of the Barclays.
Promotion- The services and products of Barclays are promoted through focusing on certain
customer targets. The promotion is majorly conducted on online websites, and for better
results, Barclays contact such online advertising agencies, which can gather the required
types and amount of traffic towards the organisational products and service (Armstrong et al.
2015). Apart from online promotions and advertisements, Barclays conducts promotional and
advertising campaigns for reaching out to more amount of customers. In this way, promotion
is conducted in efficacious manner by Barclays.
People- Barclays manage its people in such ways, that its operations get completed in a
prosperous manner. Skilled and talented people are hired for generating contents regarding
Barclay’s services and products (Huang and Sarigöllü, 2014). The customers are impressed

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and attracted through these content generated online by the hired people. In this way, more
traffic is generated towards the organisational services.
Place- The products and services of Barclays are served in more than 50 countries on the
globe. There are around 4,750 extensions of Barclays, which majorly comprises of 24 hours
functioning ATM’s (Home.barclays, 2019). The digital services of Barclays are handled
mainly through internet. The related transactions are also carried out online.
Process- The variety of processes related to the marketing of Barclays needs to be handled
for providing optimum satisfaction to its clients and customers (Fan et al. 2015). The online
service like answering the clients and customer care help to the clients is carried out in an
effective way. There are many times when the clients and customers of Barclays have certain
doubts and they need information regarding something. At such times, Barclays focuses on
carrying out the required process for providing optimum satisfaction to its customers.
Physical evidence- The products and services of Barclays are promoted to the customers by
providing them with physical evidences. Barclays generally uses articles, reports, images and
videos as physical evidences of the company’s services and products. The achievements of
the company for its excellence are also used as physical evidence (Gnizy and Shoham, 2014).
Through these physical evidences, the customers are ensured of the quality services and
products, offered by the organisation.
The company mostly used 4ps of marketing in its marketing mix. However, as the trend is
being changed day after day, it is necessary to make improvement in all the sectors of
marketing including the marketing mix tools. That is why organisations should switch from
4Ps to 7PS. In this way, 7Ps of marketing mix are implemented by Barclays for attaining its
business objectives.
How it differs from other organisations, or may do better by citing examples
This difference can be made through comparison of marketing mix of Barclays with its rivals.
Here the rival company selected is HSBC.
Marketing mix tool Barclays HSBC
Product Product are categorised for
individuals, small and medium
businesses and for corporate
Products are divide under
private banking, wealth and
retail management , commercial

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and institutions. banking and global and
investment banking
Price Price is set according to
consumers demands, offerings
of rivals and influence from
regulatory body
Pricing is set according to
products and customer targets
Place Barclays has 4,750 branches in
around 50 countries
(Home.barclays, 2019).
Operations of HSBC are carried
out across Asia, South and
North America, Africa and
Europe.
Promotion Advertisings and promotions
are done through campaigns,
websites, TV, magazines,
billboards, direct mails and
sponsoring of various sports
Promotion is carried out
through all possible mediums
including radio, newspaper and
sponsoring of events.
People Barclays is famous for its extra
ordinary treatments and
facilities to its employees.
HSBC treats all its customers
and employees in a well
manner.
Process Banking process is easy to use
and is carried out actively on
online platforms.
Banking processes are governed
through the headquarters.
Physical evidence The online platforms of
Barclays like its mobile apps
are its physic evidence
(Home.barclays, 2019).
The branches of HSBC spread
across the globe are its physical;
evidence.
Table.1- Comparison of marketing mix
(Source: learner)

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LO3: A basic Marketing plan (P4)
Mission, vision and objective of Barclays
Mission-The mission of Barclays is to provide the customers good opportunities and provide
them quality services and products.
Vision- The vision of Barclays is to become a leading universal bank on global level.
Pestel analysis
Figure.4: Pestel analysis
(Source: Freeonlinetemplate.com, 2019)
Through Pestel analysis, the influence of political, economic, social, technological,
Environmental and legal factors, can be assessed over the business of Barclays.
Factors Description/ influence
Political  The policies and regulations made by
government
 Stability of the politics
Economic  Economic stability
 Changing value of currencies
 Negative impact of Brexit
Social  Changing lifestyle and trend choices of

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customers
 Positive impact due to increasing pension
age customers
Technological  Increasing digitalisation transformation
 Introduction to Blockchain system and
biometrics
Legal  Accusations of fraud by SFO
 Reform of taxation in US
Environmental  Sustainability policy for organisational
processes
 Impact of pact of climate change in 2015
Table.2- PESTEL analysis
(Source: learner)
Porters’ five forces analysis
Figure.5: Porters five forces model
(Sources: Topexceltemplates.com, 2019)
Threat of new entry- The level of competition has increased for Barclays due to emergence of
new entry like HSBC. This has brought significant decline in the customers of Barclays.