Marketing Report: Royal Bank of Canada (RBC) Analysis and Overview

Verified

Added on  2019/09/18

|6
|893
|51
Report
AI Summary
This report provides a comprehensive marketing analysis of the Royal Bank of Canada (RBC). It begins with an executive summary and then delves into RBC's mission statement, values, and objectives, highlighting its customer-centric approach and commitment to employee and client success. The report details key information about RBC, including its size, number of employees, branches, and total assets. It then examines the company's brands and products, assessing them through the BCG matrix framework. The report also covers RBC's geographic operations, primarily in Canada and the United States, and identifies its main competitors, including Wells Fargo, Bank of America, and The Toronto-Dominion Bank. The report concludes by emphasizing RBC's position as a leading bank in Canada and its focus on providing comprehensive financial solutions. The report includes references to support the analysis.
Document Page
Running Head: BANKING
Marketing
Name
Submitted to
Date
tabler-icon-diamond-filled.svg

Paraphrase This Document

Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
Document Page
Executive Summary
This paper discusses the mission statement, values, and objectives of the Royal Bank of Canada
(RBC). The paper continues to discuss the key information of RBC such as the size of the
company, the number of employees, branches and total assets in terms of dollars. The paper
further discusses brands/products the company sells and confirm if they are governed by BCG
analysis. The paper also discusses countries where the company operates and its main
competitors.
In this paper, a discussion is represented on a bank marketing. For conducting the discussion, a
selection is made on the chosen bank of interest. RBC is a multinational banking company, head-
quartered in Canada. The banking company caters financial services mainly to Canada but has
recently extended its forefront in the United States as well (David et al., 2014).
Since RBC is a customer-driven banking company, its mission statement has always been the
same i.e. to develop a good bank-customer relationship by developing a world class financial
advice to them. The mission statement of RBC focuses on yearning mutual success for its
employees, RBC, and clients. The company provides career opportunities to its employees
through meaningful growth opportunities. The company entertains a diverse group of people in
their premise to help their clients coming from different cultural backgrounds in dealing with
financial solutions and other banking services of their interest (Peppers et al., 2016).
Document Page
The value of the RBC is to provide care to its customers by empowering them to do the right
things; taking responsibility of providing solutions to its customers and give back to the
community. The objective of the RBC has always been a long-term goal as opposed to focusing
on a short-term goal, and as a matter of fact, the bank is highly motivated to provide
comprehensive solutions to its through locally empowered colleagues who work on behalf of
bank to deliver best service.
Royal Bank of Canada’s key information
Size of the company (in terms of total assets) C$1,074.208 billion
Number of employees 72,839
Branches 1,209
The Wall Street Journal has reported in the year 2015 that RCB has agreed to sell its Swiss
private-banking operation, products to Geneva-based SYZ Group. The services which RBC
provides to its every client and customer are guided by BCG matrix framework. The success
history of RBC till the date reveals that the company has stood up to the expectation of BCG
matrix.
Products BCG analysis of the brands/products
Money depositing account facilities Stands up to the expectation
Borrowing and crediting facilities Stands up to the expectation
RBC insurance Stands up to the expectation
Investor and treasury services Stands up to the expectation
Institutional investing Stands up to the expectation
Document Page
Custody and clearing facilities Stands up to the expectation
RBC is widely operated in Canada and in its nearby countries/regions such as France and some
parts of North America. The company deals in providing financial advice and solutions to its
clients at every stage of business. The other services which the company delivers to its clients are
money depositing account facilities, borrowing and crediting facilities, investment services and
much more (Maiyaki t al., 2015).
The main competitors of the RBC are Wells Fargo & Company, Bank of America Corporation,
and The Toronto-Dominion Bank. RBC is one of the largest banks in Canada and is believed to
serve ten million clients and has proven itself to be a forerunner among other banking industries.
Competitors of RBC are delivering their best services to Canadian people and other country’s
people and are successfully running their banking market all over the world. Wells Fargo &
Company provides community banking service to its customers. Bank of America Corporation
holds the massive advantage to its employees; its consumer lending franchise service has owned
high praise among its clients The Toronto-Dominion Bank is the largest bank in Canada and has
continued to provide high returns in the lower-risk in the highly regulated Canadian market
(Dean and Schwindt, 2014).
tabler-icon-diamond-filled.svg

Paraphrase This Document

Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
Document Page
References
David, M. E., David, F. R., & David, F. R. (2014). Mission statement theory and practice: A
content analysis and new direction. International Journal of Business, Marketing & Decision
Science, 7(1), 95-110.
Maiyaki, A. A., & Mohd, S. S. (2015). Effects of Electronic Banking Facilities, Employment
Sector and Age-Group on Customersâ Choice of Banks in Nigeria. The Journal of Internet
Banking and Commerce, 2010.
Peppers, D., & Rogers, M. (2016). Managing Customer Experience and Relationships: A
Strategic Framework. John Wiley & Sons.
Dean, J. W., & Schwindt, R. (2014). Bank Act revision in Canada: Past and potential effects on
market structure and competition. PSL Quarterly Review, 29(116).
Document Page
chevron_up_icon
1 out of 6
circle_padding
hide_on_mobile
zoom_out_icon
[object Object]