Royal Bank of Canada: Evaluating the 4Ps Marketing Mix

This report provides a detailed analysis of the marketing mix of Royal Bank of Canada (RBC), focusing on the 4Ps: product, price, place, and promotion. It examines RBC's diverse range of financial services, including personal and commercial banking, wealth management, insurance, and capital markets. The pricing strategies are discussed in relation to the competitive financial environment and regulatory policies. The report also highlights RBC's extensive distribution network, including branches, ATMs, online banking, and wealth management services across various regions. Furthermore, it explores RBC's promotional activities, such as sponsorships, online advertising, and community engagement initiatives like the 'Future Launch' program, aimed at enhancing brand awareness and customer connectivity. The analysis concludes that RBC's effective marketing mix contributes significantly to its market position and customer acquisition.

Running head: MARKETING MIX OF A BANK
MARKETING MIX OF A BANK
Name of the Student
Name of the University
Author Note

1MARKETING MIX OF A BANK
Table of Contents
Introduction....................................................................................................................2
4 Ps of marketing mix of Royal Bank of Canada...........................................................2
Product.......................................................................................................................2
Price............................................................................................................................3
Place...........................................................................................................................4
Promotion...................................................................................................................4
Conclusion......................................................................................................................5
References......................................................................................................................6
Appendices.....................................................................................................................7
Data based on analysis of Royal Bank of Canada..........................................................7
Appendix 1.................................................................................................................7
Appendix 2.................................................................................................................8
Appendix 3.................................................................................................................9
Appendix 4...............................................................................................................10
Appendix 5...............................................................................................................10

2MARKETING MIX OF A BANK
Introduction
The Royal Bank of Canada or RBC is a multinational finance based organization that
has its base in Canada. The organization has developed its position as the biggest bank in the
country with respect to the revenues and market based capitalization. The bank mainly serves
more than 16 million consumers and has employees around 80,000 employees all over the
world. The bank had been established in the year 1864 in Halifax, Nova Scotia. The corporate
headquarters of the organization are located in Toronto, Ontario. The organization provides
its services in personal banking and commercial banking based areas (Rbcroyalbank.com.
2019).
The analysis will be based on the analysis of the marketing mix of the Royal Bank of
Canada. The 4 Ps of marketing mix of the organization will be analysed in detail based on
product, price, promotion and place related factors.
4 Ps of marketing mix of Royal Bank of Canada
The marketing mix based factors of The Royal Bank of Canada can help in analysing
the products that are offered by the organization to the consumers, the price, the distribution
or place and the promotional activities that have been performed. The factors are able to
provide support based on the marketing strategies that can be implemented by the Royal
Bank of Canada (Efanny et al., 2018).
Product
Royal Bank of Canada mainly operates five major business segments that include,
personal banking, commercial banking, wealth management, insurance, capital markets based
products, investor based services. RBC is able to provide different types of financial services
that include, mortgages, accounts, car loans, personal loans, investments made in bonds and
stocks, mutual funds. The bank is able to provide better levels of services to the customers

3MARKETING MIX OF A BANK
that are based on finding the right types of accounts, saving as well as investing, exploring
the mortgage based options, loans and credit cards. The services that are provided to the
customers by The Royal Bank of Canada are based on huge number of ATMs in different
areas (Evans, 2016). The online banking based services that are offered by the organization
are also considered to be a major part of the personal banking operations. Mobile banking
based services are also offered by the organization to large number of customers. The reach
of the organization has been increased with the help of mobile banking and online banking
based services (Fan, Lau & Zhao, 2015). Mortgages are also important personal banking
related services that are offered by The Royal Bank of Canada. Retirement planning related
services are also offered by the organization as a part of personal banking. House sales based
opportunities are provided by The Royal Bank of Canada in order to the reduce the issues that
are faced with respect to the real estate based agents (Filbert & Anthony, 2018).
Price
The prices of products and services that can be offered by the target customers based
on personal banking department of The Royal Bank of Canada are important for proper
revenue generation. The financial environment of the country is able to affect the prices of
different products which are provided by the organization. The pricing based policies that
have been developed by the organization are divergent in nature and the structure is affected
by the changes that take place in the financial environment (Grădinaru, Toma & Marinescu,
2016). The levels of competition that have been faced by the organization are also able to
influence the prices of different products which are provided to the consumers. The rates of
mortgage have been increased by The Royal Bank of Canada recently and the services have
been offered based on the pricing strategy developed by the organization. The policies and
regulations of the organization are mainly controlled and regulated by the regulatory body
and the government of the country (Gummesson, 2017).

4MARKETING MIX OF A BANK
Place
The Royal Bank of Canada or RBC has its operations all over the world. The
organization has more than 1300 branches, greater than 5900 banking based machines in
around 40 countries all over the world. The banking and personal services are provided by the
organization in Canada, the US and the Caribbean. The different services are provided by
Royal Bank of Canada with the help of its branches in various parts of Toronto, Canada
(Jackson & Ahuja, 2016). The other methods that are used by the organization in order to
provide the services include, online banking based networks, telephone banking related
networks and with the help of proprietary sales based professionals. The wealth management
related services offered by the Royal Bank of Canada in various areas like, the UK, the US,
Asia and Europe. The personal banking related services have been able to attract the
consumers towards the organization. The online channels of the organization are able to
increase the reach and the customer base in the financial industry (Nuseir & Madanat, 2015).
Promotion
Targeted marketing is used by The Royal Bank of Canada in order to promote the
services that are offered to the consumers. The logo of the organization is a golden lion that is
clutching the globe. This logo has been publicised by the organization in order to increase
awareness related to the products and services. The sponsorships that are provided by the
organization for different events like, cultural festivals, sports events are also considered to
be a major promotional activity. The organization has also sponsored the Olympic games in
order to improve the levels of awareness based on the products (Williams & Williams, 2017).
Online advertising is also considered to be a process that is used by The Royal Bank of
Canada in order to promote the products. The organization has invested huge amounts in the
development of deeper connections with the communities in Toronto. The market share that
has been developed by the organization in personal banking based industry is related to the

5MARKETING MIX OF A BANK
earnings that have been received by the organization (Nuseir & Madanat, 2015). The
connectivity developed by the organization with people is an important factor that helps The
Royal Bank of Canada in the era of transformation. The campaign named “Future Launch”
has been released by the organization in order to develop a CSR based platform. An
investment of 500 million Dollars have been made over the last ten years in order to develop
the future market. The Royal Bank of Canada has recently increased the involvement based
on different sporting events that have taken place in Toronto (Grădinaru, Toma & Marinescu,
2016).
Conclusion
The analysis can be concluded by stating that The Royal Bank of Canada has been
able to operate in an effective manner with the help of proper marketing mix. The 4 Ps of the
marketing mix of the organization have been considered in order to attract the consumers.
The products of The Royal Bank of Canada have been developed in such a manner that can
fulfil the needs and demands of the consumers. The prices of different products which are
offered by the organization are based on the changes that have taken place in the external
environment. The place and distribution of The Royal Bank of Canada is able to increase the
customer base. The promotional activities of the organization are important for the
development of proper levels of awareness about the services and products which are offered
to consumers.

6MARKETING MIX OF A BANK
References
Efanny, W., Haryanto, J., Kashif, M., & Widyanto, H. A. (2018). The relationship between
marketing mix and retailer-perceived brand equity. IMP Journal, 12(1), 192-208.
Evans, W. D. (2016). Introduction to Social Marketing Research. Social Marketing Research
for Global Public Health: Methods and Technologies, 1.
Fan, S., Lau, R. Y., & Zhao, J. L. (2015). Demystifying big data analytics for business
intelligence through the lens of marketing mix. Big Data Research, 2(1), 28-32.
Filbert, A., & Anthony, W. (2018). The Impact of Marketing Mix of 4Ps (Product, Price,
Place, and Promotion) towards Repurchase Intention with Customer Satisfaction as
the mediator: In the Case of Uniqlo. iBuss Management, 6(2).
Grădinaru, C., Toma, S. G., & Marinescu, P. (2016). Marketing mix in services. Ovidius
University Annals&58; Economic Sciences Series, 16(1), 311-314.
Gummesson, E. (2017). From relationship marketing to total relationship marketing and
beyond. Journal of Services Marketing, 31(1), 16-19.
Jackson, G., & Ahuja, V. (2016). Dawn of the digital age and the evolution of the marketing
mix. Journal of Direct, Data and Digital Marketing Practice, 17(3), 170-186.
Nuseir, M. T., & Madanat, H. (2015). 4Ps: A strategy to secure customers' loyalty via
customer satisfaction. International Journal of Marketing Studies, 7(4), 78.
Rbcroyalbank.com. (2019). Get the Personal Banking Products and Services You Need.
Retrieved from https://www.rbcroyalbank.com/personal.html
Williams, R. L., & Williams, H. A. (2017). The Marketing Differentiation Process.
In Vintage Marketing Differentiation(pp. 5-18). Palgrave Macmillan, New York.

7MARKETING MIX OF A BANK
Appendices
Data based on analysis of Royal Bank of Canada
Appendix 1

8MARKETING MIX OF A BANK
Appendix 2

9MARKETING MIX OF A BANK
Appendix 3

10MARKETING MIX OF A BANK
Appendix 4
Appendix 5

11MARKETING MIX OF A BANK