Marketing Management: Analyzing Consumer Behavior at Commonwealth Bank
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This report provides an analysis of customer buying behavior in the context of the Commonwealth Bank of Australia (CBA). It examines the influence of social factors on consumer decision-making and brand switching, referencing the Royal Banking Commission's findings on unethical practices and their impact on CBA's brand image. The report identifies CBA's target customer base as working-class individuals aged 30-54 and discusses the bank's segmentation strategies, including usage-based segmentation. It also assesses external factors in the Australian business market, marketing strategies such as digital marketing and cost leadership and product diversification and their impact on CBA's success. Ultimately, the report offers recommendations for enhancing customer engagement and mitigating the adverse effects of brand switching.
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Running head: MARKETING MANAGEMENT
Marketing Management
Name of the Student:
Name of the University:
Author’s Note:
Marketing Management
Name of the Student:
Name of the University:
Author’s Note:
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1MARKETING MANAGEMENT
Table of Contents
Introduction................................................................................................................................2
Social factors and their influence on consumer decision-making and brand switching............2
Results from Situational Analysis..............................................................................................5
Individual difference influence factors and their influence on consumer decision-making......9
Recommendations....................................................................................................................12
Conclusion................................................................................................................................13
References................................................................................................................................14
Table of Contents
Introduction................................................................................................................................2
Social factors and their influence on consumer decision-making and brand switching............2
Results from Situational Analysis..............................................................................................5
Individual difference influence factors and their influence on consumer decision-making......9
Recommendations....................................................................................................................12
Conclusion................................................................................................................................13
References................................................................................................................................14

2MARKETING MANAGEMENT
Introduction
Ozuem, Howell & Lancaster (2016) are of the viewpoint that dynamicity of the
contemporary business world had caused a significant amount of change within the buying
behavior of the customers and also the kind of products or services that they opt for. Different
organizations are resorting to the usage of different kinds of strategies so as to influence the
buying behavior of the customers in the best possible manner and thereby to earn a higher
amount of revenue (McIlroy, 2018). This report will analyze the concept of customer buying
behavior and the impact of this concept in the particular context of the organization
Commonwealth Bank of Australia.
Social factors and their influence on consumer decision-making and brand switching
Commonwealth Bank of Australia also known by the name of CBA, founded in 1911
is not only the largest bank of Australia but also the largest bank of the entire Southern
Hemisphere (Commbank.com.au, 2019). More importantly, the bank is known for the
plethora of financial services that it offers to the customers starting from personal loans,
saving accounts to retail or commercial loans, insurance, pension plans and others
(Commbank.com.au, 2019). Furthermore, the bank under discussion here currently offers
employment services to more than 52,000 people from different parts of the nation and the
gross revenue generated by the organization for the year 2017 was more than A$26.005
billion (Commbank.com.au, 2019). In addition to these, the bank in conjunction with
Westpac, First National Bank and ANZ is called by the name of “Big Four” because of the
economic contribution that they make towards the national economy of Australia (McIlroy,
2018). However, the results of the Royal Banking Commission of 2017 revealed that the bank
along with the other ones of Australia were taking the help of unethical as well as unfair
business practices to enhance the amount of revenue gained by them and were at the same
Introduction
Ozuem, Howell & Lancaster (2016) are of the viewpoint that dynamicity of the
contemporary business world had caused a significant amount of change within the buying
behavior of the customers and also the kind of products or services that they opt for. Different
organizations are resorting to the usage of different kinds of strategies so as to influence the
buying behavior of the customers in the best possible manner and thereby to earn a higher
amount of revenue (McIlroy, 2018). This report will analyze the concept of customer buying
behavior and the impact of this concept in the particular context of the organization
Commonwealth Bank of Australia.
Social factors and their influence on consumer decision-making and brand switching
Commonwealth Bank of Australia also known by the name of CBA, founded in 1911
is not only the largest bank of Australia but also the largest bank of the entire Southern
Hemisphere (Commbank.com.au, 2019). More importantly, the bank is known for the
plethora of financial services that it offers to the customers starting from personal loans,
saving accounts to retail or commercial loans, insurance, pension plans and others
(Commbank.com.au, 2019). Furthermore, the bank under discussion here currently offers
employment services to more than 52,000 people from different parts of the nation and the
gross revenue generated by the organization for the year 2017 was more than A$26.005
billion (Commbank.com.au, 2019). In addition to these, the bank in conjunction with
Westpac, First National Bank and ANZ is called by the name of “Big Four” because of the
economic contribution that they make towards the national economy of Australia (McIlroy,
2018). However, the results of the Royal Banking Commission of 2017 revealed that the bank
along with the other ones of Australia were taking the help of unethical as well as unfair
business practices to enhance the amount of revenue gained by them and were at the same

3MARKETING MANAGEMENT
time misleading the customers as well (O'Connor, 2018). This had adversely affected the
business prospects of the under discussion here and the net result of this is that the bank had
lost a substantial amount of the monopoly that it used to hold in the financial business market
of Australia.
The customer base on which the organization under discussion here is currently
focusing are the working class individuals who belong to the age bracket of 30-54 years of
age. More importantly, it is seen that although the organization takes had taken the
individuals related to this particular age bracket as their major customer base it is seen that
different kinds of services are being offered by the organization to the diverse people related
to this particular bracket so as to accommodate each and every need of theirs (Pilbeam,
2018).
Figure 1: Target Customer profile of CBA
Source: (Pilbeam, 2018)
time misleading the customers as well (O'Connor, 2018). This had adversely affected the
business prospects of the under discussion here and the net result of this is that the bank had
lost a substantial amount of the monopoly that it used to hold in the financial business market
of Australia.
The customer base on which the organization under discussion here is currently
focusing are the working class individuals who belong to the age bracket of 30-54 years of
age. More importantly, it is seen that although the organization takes had taken the
individuals related to this particular age bracket as their major customer base it is seen that
different kinds of services are being offered by the organization to the diverse people related
to this particular bracket so as to accommodate each and every need of theirs (Pilbeam,
2018).
Figure 1: Target Customer profile of CBA
Source: (Pilbeam, 2018)
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4MARKETING MANAGEMENT
Abdeen, Rajah and Gaur (2016) are of the viewpoint that one of the most important
aspects of the segmentation process used by the organization is its extensive usage of the
innovative strategy of usage-based segmentation. As opined by Pearson (2016), this kind of
segmentation focuses on the behavior of the customers and thereby helps the organizations to
design their services or products in likewise manner. More importantly, it is seen that the
organization focuses mainly on the customers related to the city areas like Melbourne, Perth,
Adelaide and others so as to derive the maximum amount of financial rewards. In addition to
these, it is seen that the organization in the recent times is trying to enhance their existing
customer base and thereby is trying to offer the kind of financial services which would be in
synchronicity with the demands of the younger people as well as their financial needs (Yusof
et al., 2015). More importantly, it is seen that the bank utilizes the social factors like family
status, role of the family members and other factors for targeting the right kind of customers.
In addition to these, the individual factors like age, education and profession also play a key
role in the process of targeting and thus it is seen that the white-collar employees in the age
bracket of 30-59 years of age are being targeted by the bank. According to Fatma, Rahman
and Khan (2015), one of the major reasons for the extensive success gained by the financial
organization under discussion here can be attributed to the effective usage of the
segmentation, targeting and positioning strategies and also to the fact that the organization
takes into effective consideration the needs or the demands of the customers.
The external factors of the Australian business market act as an opportunity for the
organization, which it can utilize to attain a higher level of financial growth. However, the
fierce competition within the Australian financial sector means that the customers switch
their brands or services on a regular basis and this had considerably reduced the loyalty of the
customers towards the organization in the present times. This in turn is adversely affecting
the financial prospects of the organization under discussion here and the net result of this
Abdeen, Rajah and Gaur (2016) are of the viewpoint that one of the most important
aspects of the segmentation process used by the organization is its extensive usage of the
innovative strategy of usage-based segmentation. As opined by Pearson (2016), this kind of
segmentation focuses on the behavior of the customers and thereby helps the organizations to
design their services or products in likewise manner. More importantly, it is seen that the
organization focuses mainly on the customers related to the city areas like Melbourne, Perth,
Adelaide and others so as to derive the maximum amount of financial rewards. In addition to
these, it is seen that the organization in the recent times is trying to enhance their existing
customer base and thereby is trying to offer the kind of financial services which would be in
synchronicity with the demands of the younger people as well as their financial needs (Yusof
et al., 2015). More importantly, it is seen that the bank utilizes the social factors like family
status, role of the family members and other factors for targeting the right kind of customers.
In addition to these, the individual factors like age, education and profession also play a key
role in the process of targeting and thus it is seen that the white-collar employees in the age
bracket of 30-59 years of age are being targeted by the bank. According to Fatma, Rahman
and Khan (2015), one of the major reasons for the extensive success gained by the financial
organization under discussion here can be attributed to the effective usage of the
segmentation, targeting and positioning strategies and also to the fact that the organization
takes into effective consideration the needs or the demands of the customers.
The external factors of the Australian business market act as an opportunity for the
organization, which it can utilize to attain a higher level of financial growth. However, the
fierce competition within the Australian financial sector means that the customers switch
their brands or services on a regular basis and this had considerably reduced the loyalty of the
customers towards the organization in the present times. This in turn is adversely affecting
the financial prospects of the organization under discussion here and the net result of this

5MARKETING MANAGEMENT
frequent switch in brands by the customers is the fact that none of the organizations are being
able to profit in a significant manner from this (Amin et al., 2017). More importantly, in order
to mitigate the adverse effect of these aspects the organization in the recent times is taking the
help of aggressive marketing strategies and also using various kinds of advertisements to
enhance its customer base. In addition to these, various kinds of discounted services are being
offered by the bank in the present times to attract new customers so as to enhance the amount
of profit or revenue earned by the organization.
Results from Situational Analysis
The situational analysis of the organization CBA which was conducted in the earlier
clearly reveals that most of the external as well as the internal factors of the external business
environment of Australia are congenial for the business operations of the organization under
discussion here. For example, the stable political environment of the nation acts as an
opportunity for the organization which it can utilize to attain a higher level of financial
growth (Küster, Vila & Canales, 2016). Furthermore, booming economy of the nation ensures
the fact that the people of the nation had to right amount of capital to opt for the financial
services offered by the organization (Berbegal-Mirabent, Mas-Machuca & Marimon, 2016).
In addition to these, the people of the nation like to insure things and also like to take capital
on interest or use credit cards and similar services offered by the banks and this turn ensures
the fact that the fact that the financial services offered by the bank are in demand with the
people (Armour et al., 2016).
The technological advancements of the nation also ensures the fact that the
organization is being to use these advancements to offer online payment options to the people
and also to manage the data or the information of these transactions or the financial details of
the customers in an adequate manner (Noori, 2015). Moreover, the lenient corporate laws of
frequent switch in brands by the customers is the fact that none of the organizations are being
able to profit in a significant manner from this (Amin et al., 2017). More importantly, in order
to mitigate the adverse effect of these aspects the organization in the recent times is taking the
help of aggressive marketing strategies and also using various kinds of advertisements to
enhance its customer base. In addition to these, various kinds of discounted services are being
offered by the bank in the present times to attract new customers so as to enhance the amount
of profit or revenue earned by the organization.
Results from Situational Analysis
The situational analysis of the organization CBA which was conducted in the earlier
clearly reveals that most of the external as well as the internal factors of the external business
environment of Australia are congenial for the business operations of the organization under
discussion here. For example, the stable political environment of the nation acts as an
opportunity for the organization which it can utilize to attain a higher level of financial
growth (Küster, Vila & Canales, 2016). Furthermore, booming economy of the nation ensures
the fact that the people of the nation had to right amount of capital to opt for the financial
services offered by the organization (Berbegal-Mirabent, Mas-Machuca & Marimon, 2016).
In addition to these, the people of the nation like to insure things and also like to take capital
on interest or use credit cards and similar services offered by the banks and this turn ensures
the fact that the fact that the financial services offered by the bank are in demand with the
people (Armour et al., 2016).
The technological advancements of the nation also ensures the fact that the
organization is being to use these advancements to offer online payment options to the people
and also to manage the data or the information of these transactions or the financial details of
the customers in an adequate manner (Noori, 2015). Moreover, the lenient corporate laws of

6MARKETING MANAGEMENT
the nation also ensure the fact that the bank is being able to conduct its business activities in
an effective manner and also in compliance with the stipulations or the legislations of the
national government (Alshurideh, 2016). Lastly, the organization ardently follows the
different environment legislations or the stipulations given by the national government so as
to contribute in a significant manner towards the cause of the environment.
Yusof et al. (2015) have articulated the viewpoint that the primary purpose of the
different marketing strategies which the organizations use is to effective market as well as
promote the products or services offered by them in an effective manner. As opined by Wali,
Wright and Uduma (2015), effective marketing strategies not only helps the organizations to
convey adequate information regarding the products or services offered by them to the
customers but at the same time help them to grab new customers as well. In this regard, it
needs to be said that the organization CBA takes the help of digital marketing strategies like
SEO, content marketing, e-newsletters and others for the purpose of marketing (Amin et al.,
2017). Furthermore, taking the help of these strategies the organization sends regular
promotional email, e-newsletters and others to the customers to keep them updated regarding
the financial services offered by them (Tung & Carlson, 2015). More importantly, through
the effective usage of the processes of SEO and content marketing the organization had been
able to create an effective online presence of the services offered by them to the customers.
CBA in addition to the digital marketing strategies also takes the help of the strategy
of cost leadership so as to offer the best quality financial services to the customers and that
too at a cost which is comparatively lower than the ones offered by the other financial
organizations of Australia like Westpac, ANZ, First National Bank and others (Amin et al.,
2017). In this regard, it needs to be said that the interest rate which is being charged by the
organization for the various private or personal loans that they offer to the customers is only
3% which is way lower than the ones charged by the other financial organizations of
the nation also ensure the fact that the bank is being able to conduct its business activities in
an effective manner and also in compliance with the stipulations or the legislations of the
national government (Alshurideh, 2016). Lastly, the organization ardently follows the
different environment legislations or the stipulations given by the national government so as
to contribute in a significant manner towards the cause of the environment.
Yusof et al. (2015) have articulated the viewpoint that the primary purpose of the
different marketing strategies which the organizations use is to effective market as well as
promote the products or services offered by them in an effective manner. As opined by Wali,
Wright and Uduma (2015), effective marketing strategies not only helps the organizations to
convey adequate information regarding the products or services offered by them to the
customers but at the same time help them to grab new customers as well. In this regard, it
needs to be said that the organization CBA takes the help of digital marketing strategies like
SEO, content marketing, e-newsletters and others for the purpose of marketing (Amin et al.,
2017). Furthermore, taking the help of these strategies the organization sends regular
promotional email, e-newsletters and others to the customers to keep them updated regarding
the financial services offered by them (Tung & Carlson, 2015). More importantly, through
the effective usage of the processes of SEO and content marketing the organization had been
able to create an effective online presence of the services offered by them to the customers.
CBA in addition to the digital marketing strategies also takes the help of the strategy
of cost leadership so as to offer the best quality financial services to the customers and that
too at a cost which is comparatively lower than the ones offered by the other financial
organizations of Australia like Westpac, ANZ, First National Bank and others (Amin et al.,
2017). In this regard, it needs to be said that the interest rate which is being charged by the
organization for the various private or personal loans that they offer to the customers is only
3% which is way lower than the ones charged by the other financial organizations of
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7MARKETING MANAGEMENT
Australia (Commbank.com.au, 2019). More importantly, the organization also actively takes
the help of the marketing strategy of product diversification so as to offer a wide range of
financial services to the customers. The net result of this is that the organization under
discussion here in the present times had broadened the genre of services offered by it to the
customers and offers not only personal loans, insurances, pension plans and others but at the
same time different kinds of retail or corporate loans as well (Ramanathan, Subramanian &
Parrott, 2017). Thus, it can be said that the extensive success gained by the organization
under discussion here can be attributed to the effective usage of the mentioned marketing as
well as promotional strategies.
Product Personal loans, insurances, pension plans and others
Corporate or retail loans
Credit cards, debit or ATM cards and others
Price Uses cost leadership strategy
Charges only 3% interest from the customers on personal or private
loans which is way lower than the ones charged by the other financial
organizations (Commbank.com.au, 2019)
Place The organization is headquartered in Sydney and offers financial
services to the customers from all over the nation
In the recent times the organization is following the path of
internationalization and had expanded in different nations like China,
USA, UK and others (Commbank.com.au, 2019)
Australia (Commbank.com.au, 2019). More importantly, the organization also actively takes
the help of the marketing strategy of product diversification so as to offer a wide range of
financial services to the customers. The net result of this is that the organization under
discussion here in the present times had broadened the genre of services offered by it to the
customers and offers not only personal loans, insurances, pension plans and others but at the
same time different kinds of retail or corporate loans as well (Ramanathan, Subramanian &
Parrott, 2017). Thus, it can be said that the extensive success gained by the organization
under discussion here can be attributed to the effective usage of the mentioned marketing as
well as promotional strategies.
Product Personal loans, insurances, pension plans and others
Corporate or retail loans
Credit cards, debit or ATM cards and others
Price Uses cost leadership strategy
Charges only 3% interest from the customers on personal or private
loans which is way lower than the ones charged by the other financial
organizations (Commbank.com.au, 2019)
Place The organization is headquartered in Sydney and offers financial
services to the customers from all over the nation
In the recent times the organization is following the path of
internationalization and had expanded in different nations like China,
USA, UK and others (Commbank.com.au, 2019)

8MARKETING MANAGEMENT
Takes the help of the strategy of time-based competition to offer fast
services to the customers and also to enhance the efficiency of its supply
chain and thereby to improve the quality of services (Pappas, 2016)
Promotio
n
Active usage of digital and traditional forms of promotional methods
Traditional promotional methods used by the organization includes
advertizing in newspapers, television, radios and others
Digital promotional methods used by the organization includes
advertising over social media platforms, content marketing, SEO and
others
The findings of the Royal Banking Commission (2017) by revealing the unethical as
well as misguiding practices used by the organization had adversely affected the brand image
as well as the profitability of the organization under discussion here (McIlroy, 2018). For
example, the commission clearly revealed the fact that the organization in order to earn more
profit was not only misleading the customers but at the same time extracting more money
from them than the amount they needed to pay (O'Connor, 2018). The net result of this is that
in the recent times many of the loyal customers have stopped opting for the services offered
by the bank and have switched over to its competitors. In addition to this, post the
Commission the organization had failed to attract new customers within the fold of the
organization and this is adversely affecting its profitability (Amin et al., 2017). In this regard,
it needs to be said that the organization was asked to pay more than $1.6 billion to the
national government as well as the customers as compensation for the fraudulent practices
used by it (Pilbeam, 2018). More importantly, the analysis of the results of the survey (given
Takes the help of the strategy of time-based competition to offer fast
services to the customers and also to enhance the efficiency of its supply
chain and thereby to improve the quality of services (Pappas, 2016)
Promotio
n
Active usage of digital and traditional forms of promotional methods
Traditional promotional methods used by the organization includes
advertizing in newspapers, television, radios and others
Digital promotional methods used by the organization includes
advertising over social media platforms, content marketing, SEO and
others
The findings of the Royal Banking Commission (2017) by revealing the unethical as
well as misguiding practices used by the organization had adversely affected the brand image
as well as the profitability of the organization under discussion here (McIlroy, 2018). For
example, the commission clearly revealed the fact that the organization in order to earn more
profit was not only misleading the customers but at the same time extracting more money
from them than the amount they needed to pay (O'Connor, 2018). The net result of this is that
in the recent times many of the loyal customers have stopped opting for the services offered
by the bank and have switched over to its competitors. In addition to this, post the
Commission the organization had failed to attract new customers within the fold of the
organization and this is adversely affecting its profitability (Amin et al., 2017). In this regard,
it needs to be said that the organization was asked to pay more than $1.6 billion to the
national government as well as the customers as compensation for the fraudulent practices
used by it (Pilbeam, 2018). More importantly, the analysis of the results of the survey (given

9MARKETING MANAGEMENT
in the excel file) clearly reveals that the majority of the customers of CBA post the
revelations of this commission are opting for the services offered by the other banks and thus
the loyalty of the customers towards the bank is at an all time low. In addition to this, the
results of the survey clearly that a significant number of customers had switched over to the
other banks because of the fraudulent practices used by it. This had led many customers to
switch brands and move over to the other brands in the financial sector of Australia. The
organization in order to overcome the adverse effects of these issues is currently taking the
help of various kinds of corporate social responsibility (CSR) so as to improve its brand
image within the financial business market. In addition to this, the organization is also using
different kinds of digital marketing strategies like SEO, content marketing and others to
advertise in an effective manner the positive aspects of the services offered by it.
Furthermore, the organization at the same time is trying to bring in new customers and
thereby increase the sale of the services offered by it to the customers.
Individual factors and their influence on consumer decision-making
Hjort et al. (2016) have articulated the viewpoint that because of the fierce
competition which exists within the framework of the contemporary business world the
behavior of the customers had changed in a significant manner. More importantly, in the
present times it is seen that there are various factors which affect the buying behavior of the
customers like price, product attributes, brand image of the concerned organization and others
(Kaihatu & Spence, 2016). Furthermore, the prominence that the concept of customer buying
behavior holds within the framework of the contemporary business world becomes evident in
the emergence of the different kinds of theories or frameworks that are being used by the
organizations. In this regard, it needs to be said that taking the help of the “theory of reasoned
action” the organization CBA believes the fact that the customers are rational creatures and
in the excel file) clearly reveals that the majority of the customers of CBA post the
revelations of this commission are opting for the services offered by the other banks and thus
the loyalty of the customers towards the bank is at an all time low. In addition to this, the
results of the survey clearly that a significant number of customers had switched over to the
other banks because of the fraudulent practices used by it. This had led many customers to
switch brands and move over to the other brands in the financial sector of Australia. The
organization in order to overcome the adverse effects of these issues is currently taking the
help of various kinds of corporate social responsibility (CSR) so as to improve its brand
image within the financial business market. In addition to this, the organization is also using
different kinds of digital marketing strategies like SEO, content marketing and others to
advertise in an effective manner the positive aspects of the services offered by it.
Furthermore, the organization at the same time is trying to bring in new customers and
thereby increase the sale of the services offered by it to the customers.
Individual factors and their influence on consumer decision-making
Hjort et al. (2016) have articulated the viewpoint that because of the fierce
competition which exists within the framework of the contemporary business world the
behavior of the customers had changed in a significant manner. More importantly, in the
present times it is seen that there are various factors which affect the buying behavior of the
customers like price, product attributes, brand image of the concerned organization and others
(Kaihatu & Spence, 2016). Furthermore, the prominence that the concept of customer buying
behavior holds within the framework of the contemporary business world becomes evident in
the emergence of the different kinds of theories or frameworks that are being used by the
organizations. In this regard, it needs to be said that taking the help of the “theory of reasoned
action” the organization CBA believes the fact that the customers are rational creatures and
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10MARKETING MANAGEMENT
generally like to take the help of the kind product or services which appeals to their rational
or logical self in the best possible manner (Paulssen & Roulet, 2017). The net result of this is
that the organization in the recent times in order to appeal to the logical or the reasonable self
of the customers in the best possible offers attractive financial services to the customers. In
addition to these, the prices, promotional activities, brand image, durability and other aspects
of the financial services which are being offered by the organization had been designed in
such a manner that they are likely to appeal to the rational self of the customers.
The customer base that the organization CBA is currently focusing is being focused
by the other major organizations like Westpac, ANZ, First National Bank and others. The net
result of this is that the choices that are available to the customers is numerous and thus the
customers generally like to conduct their personal research and generally opt for the services
which are best in synchronicity with their needs and budgets (Estrella-Ramón, 2017). More
importantly, the gratification factors for the diverse customers are different and this is
currently adversely affecting the prospects of the organization under discussion here. Thus, in
the recent times it is seen that the customers are actively switching their brands from time to
time and this had affected the business prospects of all the major financial organizations of
Australia including CBA in a significant manner.
Figure 2: Brand switching factors
generally like to take the help of the kind product or services which appeals to their rational
or logical self in the best possible manner (Paulssen & Roulet, 2017). The net result of this is
that the organization in the recent times in order to appeal to the logical or the reasonable self
of the customers in the best possible offers attractive financial services to the customers. In
addition to these, the prices, promotional activities, brand image, durability and other aspects
of the financial services which are being offered by the organization had been designed in
such a manner that they are likely to appeal to the rational self of the customers.
The customer base that the organization CBA is currently focusing is being focused
by the other major organizations like Westpac, ANZ, First National Bank and others. The net
result of this is that the choices that are available to the customers is numerous and thus the
customers generally like to conduct their personal research and generally opt for the services
which are best in synchronicity with their needs and budgets (Estrella-Ramón, 2017). More
importantly, the gratification factors for the diverse customers are different and this is
currently adversely affecting the prospects of the organization under discussion here. Thus, in
the recent times it is seen that the customers are actively switching their brands from time to
time and this had affected the business prospects of all the major financial organizations of
Australia including CBA in a significant manner.
Figure 2: Brand switching factors

11MARKETING MANAGEMENT
Source: (Schaper, 2016)
An competitor analysis of CBA with the other organizations of Australia in terms of
the services offered by it and also the buying behavior of the customers is being represented
by the below given table-
CBA Westpac ANZ First National
Bank
Value
Proposition
High quality
financial
services, low
interest rates,
diversity of
financial
services and
others
Quality services,
plethora of
services,
reliability
Reliability, low
cost services,
high quality
services
Diversity of
services,
reliability
Brand Switch
by the
customers
High High High High
Interests Rate 3% 4.1% 3.5% 4.9%
Revenue (2017) A$26.005
billion
A$ 21.642
billion
A$ 21.071
billion
A$ 21.001
billion
Online
Presence
Yes Yes Yes Yes
Brand Image
pre-Royal
Positive Positive Positive Positive
Source: (Schaper, 2016)
An competitor analysis of CBA with the other organizations of Australia in terms of
the services offered by it and also the buying behavior of the customers is being represented
by the below given table-
CBA Westpac ANZ First National
Bank
Value
Proposition
High quality
financial
services, low
interest rates,
diversity of
financial
services and
others
Quality services,
plethora of
services,
reliability
Reliability, low
cost services,
high quality
services
Diversity of
services,
reliability
Brand Switch
by the
customers
High High High High
Interests Rate 3% 4.1% 3.5% 4.9%
Revenue (2017) A$26.005
billion
A$ 21.642
billion
A$ 21.071
billion
A$ 21.001
billion
Online
Presence
Yes Yes Yes Yes
Brand Image
pre-Royal
Positive Positive Positive Positive

12MARKETING MANAGEMENT
Banking
Commission
The organization CBA actively takes the help of recent information technology for the
purpose of the effective management of the information of the customers regarding their
financial transactions with the organization. In this regard, it needs to be said that the
organization had recruited some of the best information management experts of the nation so
as to ensure that they is no error in the management of the information of the customers.
More importantly, the customers in addition to the manual documents are also offered online
portals through which they can access the details of their transactions with the bank or the
services that they are using (Ramanathan et al., 2017). It is pertinent to note that the
organization had developed this intense focus of the effective management as well as
processing of the information of the customers not only to ensure the fact that the customers
are getting quality services but at the same time to mitigate the fierce competition that it is
facing in the financial business market of Australia (Kaihatu & Spence, 2016).
Recommendations
Ethical Leadership: The organization can change the “greed culture” which it had
developed within its workplace through the effective usage of the process of ethical
leadership. More importantly, the effective usage of this style of leadership will
encourage the employees of the bank to take into effective consideration the concepts
of ethics which will in turn benefit both the customers and the bank. Furthermore, this
will help the bank to overcome the performance related issues that it is currently
facing.
Banking
Commission
The organization CBA actively takes the help of recent information technology for the
purpose of the effective management of the information of the customers regarding their
financial transactions with the organization. In this regard, it needs to be said that the
organization had recruited some of the best information management experts of the nation so
as to ensure that they is no error in the management of the information of the customers.
More importantly, the customers in addition to the manual documents are also offered online
portals through which they can access the details of their transactions with the bank or the
services that they are using (Ramanathan et al., 2017). It is pertinent to note that the
organization had developed this intense focus of the effective management as well as
processing of the information of the customers not only to ensure the fact that the customers
are getting quality services but at the same time to mitigate the fierce competition that it is
facing in the financial business market of Australia (Kaihatu & Spence, 2016).
Recommendations
Ethical Leadership: The organization can change the “greed culture” which it had
developed within its workplace through the effective usage of the process of ethical
leadership. More importantly, the effective usage of this style of leadership will
encourage the employees of the bank to take into effective consideration the concepts
of ethics which will in turn benefit both the customers and the bank. Furthermore, this
will help the bank to overcome the performance related issues that it is currently
facing.
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13MARKETING MANAGEMENT
Use of Sustainable Management: The organization in order to enhance its brand
image needs to take into effective consideration the concept of triple bottom line
approach to sustainable. The organization through the effective usage of this concept
will be able to contribute in a positive manner towards the society, environment and
the economy of Australia which will in turn help it to improve its brand image and
thereby earn long-term growth.
Conclusion
To conclude, the concept of customer buying behavior had become the catch-phrase
of the contemporary business world because of the fact that the financial prospects of an
organization depends on the number of customers that they have. However, in the recent
times it is seen that because of the large number of choices which are available to the
customers their buying behavior had changed in a significant manner and this in turn had
adversely affected the prospects of different organizations. The net result of this is that
different organizations are resorting to the use of different kinds of marketing strategies so as
to overcome the threats presented by this change in the buying behavior of the customers.
Use of Sustainable Management: The organization in order to enhance its brand
image needs to take into effective consideration the concept of triple bottom line
approach to sustainable. The organization through the effective usage of this concept
will be able to contribute in a positive manner towards the society, environment and
the economy of Australia which will in turn help it to improve its brand image and
thereby earn long-term growth.
Conclusion
To conclude, the concept of customer buying behavior had become the catch-phrase
of the contemporary business world because of the fact that the financial prospects of an
organization depends on the number of customers that they have. However, in the recent
times it is seen that because of the large number of choices which are available to the
customers their buying behavior had changed in a significant manner and this in turn had
adversely affected the prospects of different organizations. The net result of this is that
different organizations are resorting to the use of different kinds of marketing strategies so as
to overcome the threats presented by this change in the buying behavior of the customers.

14MARKETING MANAGEMENT
References
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and their purchase behaviour. Marketing Intelligence & Planning, 34(1), 2-18.
Alshurideh, M. T. (2016). Is customer retention beneficial for customers: A conceptual
background. Journal of Research in Marketing, 5(3), 382-389.
Amin, H., Abdul Rahman, A. R., Abdul Razak, D., & Rizal, H. (2017). Consumer attitude
and preference in the Islamic mortgage sector: a study of Malaysian
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Armour, J., Awrey, D., Davies, P. L., Enriques, L., Gordon, J. N., Mayer, C. P., & Payne, J.
(2016). Principles of financial regulation. Oxford University Press.
Berbegal-Mirabent, J., Mas-Machuca, M., & Marimon, F. (2016). Antecedents of online
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loans - CommBank. Retrieved from https://www.commbank.com.au
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cross-buying behaviour. Journal of Services Marketing, 31(6), 539-555.
Fatma, M., Rahman, Z., & Khan, I. (2015). The role of CSR as a determinant of consumer
responses in financial sector. Decision, 42(4), 393-401.
Hjort, K., Lantz, B., Ericsson, D., & Gattorna, J. (2016). Customer Segmentation Based on
Buying and Returning Behaviour: Supporting Differentiated Service Delivery in
References
Abdeen, A., Rajah, E., & Gaur, S. S. (2016). Consumers' beliefs about firm’s CSR initiatives
and their purchase behaviour. Marketing Intelligence & Planning, 34(1), 2-18.
Alshurideh, M. T. (2016). Is customer retention beneficial for customers: A conceptual
background. Journal of Research in Marketing, 5(3), 382-389.
Amin, H., Abdul Rahman, A. R., Abdul Razak, D., & Rizal, H. (2017). Consumer attitude
and preference in the Islamic mortgage sector: a study of Malaysian
consumers. Management Research Review, 40(1), 95-115.
Armour, J., Awrey, D., Davies, P. L., Enriques, L., Gordon, J. N., Mayer, C. P., & Payne, J.
(2016). Principles of financial regulation. Oxford University Press.
Berbegal-Mirabent, J., Mas-Machuca, M., & Marimon, F. (2016). Antecedents of online
purchasing behaviour in the tourism sector. Industrial Management & Data
Systems, 116(1), 87-102.
Commbank.com.au, (2019). Personal banking including accounts, credit cards and home
loans - CommBank. Retrieved from https://www.commbank.com.au
Estrella-Ramón, A. (2017). Explaining customers’ financial service choice with loyalty and
cross-buying behaviour. Journal of Services Marketing, 31(6), 539-555.
Fatma, M., Rahman, Z., & Khan, I. (2015). The role of CSR as a determinant of consumer
responses in financial sector. Decision, 42(4), 393-401.
Hjort, K., Lantz, B., Ericsson, D., & Gattorna, J. (2016). Customer Segmentation Based on
Buying and Returning Behaviour: Supporting Differentiated Service Delivery in

15MARKETING MANAGEMENT
Fashion E-Commerce. In Developments in Logistics and Supply Chain
Management (pp. 153-169). Palgrave Macmillan, London.
Kaihatu, T. S., & Spence, M. T. (2016). The relationship between shopping mall image and
congruity on customer behaviour: Evidence from Indonesia. Australasian Marketing
Journal (AMJ), 24(2), 141-145.
Küster, I., Vila, N., & Canales, P. (2016). How does the online service level influence
consumers’ purchase intentions before a transaction? A formative
approach. European journal of management and business economics, 25(3), 111-120.
Matthews, A. (2016). The financial services industry: Whistleblowing and calls for a royal
commission. Precedent (Sydney, NSW), (136), 35.
McIlroy, J. (2018). Royal commission hears bankers' took bribes'. Green Left Weekly, (1173),
8.
Noori, B. (2015). An Analysis of Mobile Banking User Behavior Using Customer
Segmentation. International Journal of Global Business, 8(2).
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Ozuem, W., Howell, K. E., & Lancaster, G. (2016). Understanding technologically-induced
customer services in the Nigerian banking sector: the internet as a post-modern
phenomenon. International Journal of Information Technology and
Management, 15(3), 272-290.
Pappas, N. (2016). Marketing strategies, perceived risks, and consumer trust in online buying
behaviour. Journal of Retailing and Consumer Services, 29, 92-103.
Fashion E-Commerce. In Developments in Logistics and Supply Chain
Management (pp. 153-169). Palgrave Macmillan, London.
Kaihatu, T. S., & Spence, M. T. (2016). The relationship between shopping mall image and
congruity on customer behaviour: Evidence from Indonesia. Australasian Marketing
Journal (AMJ), 24(2), 141-145.
Küster, I., Vila, N., & Canales, P. (2016). How does the online service level influence
consumers’ purchase intentions before a transaction? A formative
approach. European journal of management and business economics, 25(3), 111-120.
Matthews, A. (2016). The financial services industry: Whistleblowing and calls for a royal
commission. Precedent (Sydney, NSW), (136), 35.
McIlroy, J. (2018). Royal commission hears bankers' took bribes'. Green Left Weekly, (1173),
8.
Noori, B. (2015). An Analysis of Mobile Banking User Behavior Using Customer
Segmentation. International Journal of Global Business, 8(2).
O'Connor, B. (2018). Aftermath of the royal commission. Newsmonth, 38(8), 15.
Ozuem, W., Howell, K. E., & Lancaster, G. (2016). Understanding technologically-induced
customer services in the Nigerian banking sector: the internet as a post-modern
phenomenon. International Journal of Information Technology and
Management, 15(3), 272-290.
Pappas, N. (2016). Marketing strategies, perceived risks, and consumer trust in online buying
behaviour. Journal of Retailing and Consumer Services, 29, 92-103.
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16MARKETING MANAGEMENT
Paulssen, M., & Roulet, R. (2017). Social bonding as a determinant of share of wallet and
cross-buying behaviour in B2B relationships. European Journal of
Marketing, 51(5/6), 1011-1028.
Pearson, S. (2016). Building brands directly: creating business value from customer
relationships. Springer.
Pilbeam, K. (2018). Finance & financial markets. Macmillan International Higher Education.
Ramanathan, U., Subramanian, N., & Parrott, G. (2017). Role of social media in retail
network operations and marketing to enhance customer satisfaction. International
Journal of Operations & Production Management, 37(1), 105-123.
Ramanathan, U., Subramanian, N., Yu, W., & Vijaygopal, R. (2017). Impact of customer
loyalty and service operations on customer behaviour and firm performance:
empirical evidence from UK retail sector. Production Planning & Control, 28(6-8),
478-488.
Tung, B., & Carlson, J. (2015). Examining determinants of cross buying behaviour in retail
banking. International Journal of Quality & Reliability Management, 32(8), 863-880.
Wali, A. F., Wright, L. T., & Uduma, I. A. (2015). Customer relationship management for
brand commitment and brand loyalty. British Journal of Marketing Studies, 3(4), 45-
58.
Yusof, J. M., Manan, H. A., Karim, N. A., & Kassim, N. A. M. (2015). Customer's Loyalty
effects of CSR Initiatives. Procedia-Social and Behavioral Sciences, 170, 109-119.
Paulssen, M., & Roulet, R. (2017). Social bonding as a determinant of share of wallet and
cross-buying behaviour in B2B relationships. European Journal of
Marketing, 51(5/6), 1011-1028.
Pearson, S. (2016). Building brands directly: creating business value from customer
relationships. Springer.
Pilbeam, K. (2018). Finance & financial markets. Macmillan International Higher Education.
Ramanathan, U., Subramanian, N., & Parrott, G. (2017). Role of social media in retail
network operations and marketing to enhance customer satisfaction. International
Journal of Operations & Production Management, 37(1), 105-123.
Ramanathan, U., Subramanian, N., Yu, W., & Vijaygopal, R. (2017). Impact of customer
loyalty and service operations on customer behaviour and firm performance:
empirical evidence from UK retail sector. Production Planning & Control, 28(6-8),
478-488.
Tung, B., & Carlson, J. (2015). Examining determinants of cross buying behaviour in retail
banking. International Journal of Quality & Reliability Management, 32(8), 863-880.
Wali, A. F., Wright, L. T., & Uduma, I. A. (2015). Customer relationship management for
brand commitment and brand loyalty. British Journal of Marketing Studies, 3(4), 45-
58.
Yusof, J. M., Manan, H. A., Karim, N. A., & Kassim, N. A. M. (2015). Customer's Loyalty
effects of CSR Initiatives. Procedia-Social and Behavioral Sciences, 170, 109-119.
1 out of 17
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