Marketing Essentials: Analysis of Lloyds Bank's Marketing Strategies

This report provides a comprehensive analysis of Lloyds Bank's marketing strategies, focusing on key roles and responsibilities within the marketing function. It examines the strategic marketing plan, social media monitoring, and promotional strategies. The report delves into the roles of the marketing department in the marketing environment, including brand management, market research, and customer satisfaction. Furthermore, it explores the interrelationship between the marketing department and other departments, such as finance and IT. A comparative analysis of the marketing mix of Lloyds Bank and Royal Bank of Scotland is presented, covering product, price, place, promotion, process, people, and physical evidence. Finally, the report concludes with a basic marketing plan for Lloyds Bank, offering insights into its market position and recommendations for future strategies. The report is written from the perspective of a trainee marketing manager at Lloyds Bank, providing practical insights and analysis of the company's marketing efforts.

Marketing essentials

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
Key roles and responsibilities of marketing function.............................................................3
Roles and responsibilities of marketing department in marketing environment....................4
Roles and responsibilities of marketing relate to the wider organisational context...............5
TASK 2............................................................................................................................................7
Comparison of marketing mix of different organisation........................................................7
TASK3...........................................................................................................................................10
Basic marketing plan for an organisation.............................................................................10
CONCLUSION..............................................................................................................................15
REFERENCES..............................................................................................................................16

INTRODUCTION
Marketing is referred as the examination which helps in directing, controlling and
managing the relation among customer and business in order to enhance value of company and
increase customer satisfaction. Marketing function help the organization in attracting customer
and promote their service and product in the market. The company taken for this report is Lloyds
bank, which is the leading retail banking in UK (Brassington and Pettitt, 2012). It provides
banking and financial services such as loan, ,mortgage, credit card, saving account, current
account and many more services to their customer. This report includes the marketing function
and significance of interrelationship of marketing department with other functional departments.
Further this report includes a marketing plan of newly launched service of Lloyds banks. I have
appointed in Lloyd as a trainee marketing manager, and I was about to analyse the company so
as to find out their market position and further to submit this report to line manager so as to make
any required changes.
TASK 1
Key roles and responsibilities of marketing function.
The department of marketing is accountable for those roles and responsibility which are
helpful in achieving organisational goals. Marketing department is required to put effort in order
to enhance brand image for longer period. Lloyds bank posses an efficient department of
marketing that execute various function in a considerable manner due to which company is able
to enlarge their business in various country with non hurdles and greater sustainability. The roles
and responsibilities of department of marketing are explained below:
Define strategic marketing plans: A strategic marketing plan is a written document that
entails strategies, plan of actions and objectives made by marketing department about the
running project. The strategic marketing plan is advantageous to all the employees and
stakeholder of the company so as to prepare marketing plan of action to market the product or
service. Department of marketing for Lloyds are also making marketing plan in respect of
strategies adopted by the organisation and seeking for superior authority in order to fulfil
customer's requirements (Groucutt and Hopkins, 2015).

Social media monitoring: This function is performed by marketing department so that to
trace individual's behaviour and perception with the help of social media for example: Instagram,
Twitter and Facebook etc. Lloyds manger uses this method to monitor so by uploading videos
and then taking feedbacks from customers. Along with this they works for search engine
optimisation and social media advertisement in order to attract customer and making them aware
about services and products of Lloyds bank.
Development of promotional strategies and campaigns: This role of arranging
promotional programmes and create promotional strategies is also held by marketing department
in order to attract target customer and to capture larger public with awareness of their brand. This
role is executed by marketing manager of Lloyds in that they plan campaigns in order to examine
need of customers. Lloyds banks also emerged with use of social media as to promote their brand
for this purpose they take feedbacks from customer on online platform and generate awareness
about the services and product offered by them and their brand as well.
Roles and responsibilities of marketing department in marketing environment
Marketing department executes numerous roles and responsibilities in order to make their
organisation successful and to provide product or services satisfaction to their customers.
Marketing department of Lloyds bank is accountable for executing various roles so that to get
competitive edge in the market and to assist the business as per the market conditions in order to
stay ahead from the competitor. Some roles and responsibilities of marketing department in the
marketing environment is as under:
Defining and managing your brand: This role inculcates the vision, mission and aims
of the company as along with brand positioning in the market and offerings of products by the
company to their customers. Acquiring this knowledge is necessary for the manager of Lloyds in
order to attract more customers and to add more value to the company. This will add
sustainability in the working of Lloyds bank and continual arrangement of campaigns help in
enhancing brand image and customer experience so that they do not go to any other bank for
acquiring services (Jobber and Chadwick, 2012).
Conducing customer and market research: This is the role which is also executed by
marketing department in order to recognise needs of customers by managing market research.
Market research is helpful in recognising need and demand of the customer in respect of

offerings made by company so that any improvement can be inculcated. With the assistance of
customer's research Lloyds bank recognise the needs and demands of customer in order to
modify the given services and product so that to make them reach to each and every customers.
The marketing department of Lloyds bank is executing market research to decide their target
market and to determine the prevailing opportunities in the market which can be utilised by them
in order to grow and get high customer value (Keegan and Green, 2012).
Ensuring customer satisfaction: The role of ensuring that the offered product or service
is fulfilling the needs and requirements of customer is also executed by a marketing department.
With the help of this proper and sufficient alteration can be introduced in the offered products
and services of the business so that to ensure customer satisfaction. For this marketing manager
of Lloyds bank take feedbacks from customer in order to ensure the company that provided
products are adopted by the customers and ned not any alterations.
Roles and responsibilities of marketing relate to the wider organisational context.
Lloyds bank is a multinational company which runs their business across the globe in so
many countries. So for them it is necessary to interrelate and coordinate with different
departments in the organisation. By the help of departmental coordination the business is able to
perform in an effective and efficient way in order to meet pre decided goals of the company. The
inter coordination of marketing department with other departments on Lloyds bank is as under:
Marketing and finance department: Department of finance is responsible to generate
required amount to money to the business so that business can work smoothly without any
financial crises and any dodge in success planning. Although, marketing department is
accountable for executing the program of market research so that to obtain data regarding
functions of business (Kotler, Aand Armstrong 2013). The marketing and finance department of
Lloyds bank are interrelated with each other due to which any financial crises can be solved and
avoided by them. When any research is taking place it require funds so for this purpose if both
the departments are well coordinated then it is easy to pass marketing budget without any
problem. Marketing department perform research in order to find out the best method to acquire
funds then it is easy for finance department to gather funds.
Marketing and IT management: IT department is responsible to look after all the IT
gadgets, equipments and data in the organisation. Similarly Marketing department is responsible
to perform their tasks and assigned duties with the help of those equipments and data. Although

numerous software and applications are needed by marketing department ion the process of
market research and adopting marketing strategy so it is the duty of IT department to up keep the
maintenance of those equipments (Kotler and Pfoertsch, 2010). The marketing department of
Lloyds bank installs all the computer and other machineries in the premises and give access to
those software and equipments to marketing department. This helps both the department to
communicate with each other without any mediator, this help in minimising the time duration of
problem solving when any situation for contingency arise. Furtehr IT department enable
marketing department to those software which are required by them during promotional and
marketing program. (Kotler, Keller and Brady, 2012).
Marketing and human resource department: The marketing department
communicates about the requirement of vacant position to the HR department, and therefore the
HR department recruits those candidates who is having the most suitable qualification and skills
for that job role. The HR department and marketing department of Lloyds bank are working
closely with each other resultantly the appropriate and skilled employees are given chance to
work with the bank in order to show their efficiency and professionalism, this make the
achievement of organisational goals much easier.
Significance of interrelationship among departments:
As per above discussion all the departments of Lloyds banks are inter communicated with
each other this gives the maximum share in organisational success. This efficient inter
communication is the ground on which company is achieving success in order to expand their
business through out the globe in so many countries with sustainable achievement and effective
use or resources. As due to good inter communication between departments it is easy to pass any
information without any breakage and alterations and help the employees to work more
considerably and with greater efficiency. From the customer point of view it is beneficial for
them as well in such a manner that any information required by customer will be available to
them in no time (Mathur, 2008).
So from above discussion it can be concluded that the entire department is required to
have a significant role within business so as to operate the business in an effective manner. When
marketing department is interrelated with other departments then complexity can be reduced in
the business. Similarly when departments are interrelated then this leads to achieve business
growth due to which internal and external environment within the business can be improvised.

On the other hand marketing department is having vital role in the organisation as it enable the
business to recognise their strengths and weaknesses due to which competitive edge can be
attained by the business. Marketing department help the business in making strategies as per the
needs of customer and the way to implement those as well. Similarly marketing department is
having responsibilities to organise market research so as to get to know about customer’s need
and to enhance goodwill of the organisation.
TASK 2
Comparison of marketing mix of different organisation
Marketing mix: Marketing mix is defined as the framework which renders structure of
all the variables and aspects of marketing that are requisite to monitor the needs of customers and
meeting marketing goals. It is essential aspect which helps in merges all factors which are
somewhere related to demand of the customer and brand image of the company by which
products and services are rendered. It consists of 7p's of marketing mix which are product, price,
place, promotion, process, people and physical evidence. The marketing manger of Lloyds bank
developed a chart that involves comparative study of all the P's of marketing mix in the context
of Lloyds bank and Royal Bank of Scotland (McDonald and Wilson, 2011).
Basis Lloyds bank Royal bank of Scotland
Product Lloyds bank Plc is a retail and
commercial banking company.
They provides current account,
saving account, insurance,
loans, home or other asset
mortgage services etc.
RBS is a retail banking
organisation but provide each
and every services with a
different brand name. For
example private banking by
the name Drummond's, The
bank of the British Armed
Forces is providing banking
services to British army
regiments, Lombard is for
asset financing and many
more.
Price Lloyds works on value based RBS follows competitive

pricing strategy which is
decided by the bank after
analysing the needs of
products and services of the
customer as they concentrate
of medium and high class of
customer.
based pricing as they charges
high prices a compared to
rivals because they provide
services with more feature and
bundled services in order to
cover larger audience.
Place Lloyds is having their
headquarter in London, UK
but they serve worldwide
audience including Asia,
Europe, middle east and united
states (McDonald, Frow and
Payne, 2011).
RBS have their headquarter in
Edinburgh, UK. They provide
their services through out the
globe including Europe, Asia,
the Middle East and North
America.
Promotion Lloyds uses various method to
promote their product and
services. They initiated three
brand campaigns named
money merger, For your next
step and New dawn. Further
they took so many sponsorship
of various events in order to
enhance awareness of
customer (Pappas, 2016).
RBS uses various traditional
methods like print media and
hoardings in order to reach to
larger public and along with
they use social media to
promote their services as the
occurrence of audience is large
in case of social media.
Process Lloyds bank gives online
banking services to their
customers which can be
accessed by mobile an tablets.
Along with this they renders
telephone support to and SMS
RBS provides online and
offline banking services to
their customers in order to give
convenience to them.

alerts to their customers.
People Lloyds in having 45856
employee in their organisation.
They have bifurcated their
teams on the basis of seniority,
qualification and expertise and
accordingly allocated them the
available resources in order to
get success.
RBS gives continual training
sessions to their employees in
order to enhance their given
services and make their
customer satisfied.
Physical evidence The inner atmosphere of bank
is interactive and relaxing. As
all the employee works to
handle query of the customer
and to monitor their needs.
Logo of Lloyds bank is black
horse which is a distinctive
sign and can be identifiable by
the public specifically.
Physical evidence of RBS is
their logo, debit cards, cheque
books. RBS is a technology
centric bank so they use online
platform as much for
providing services (Sharma,
Ahuja and Alavi, 2018).
Customers can fill up the form
online and their logo of Daisy
wheel give them distinct
recognition in the market.

RBS provides some extra services in the form of bundled services to their customer
which is the main reason that they are getting competitive edge over their competitors such
as Lloyds bank. Furthermore they have a very robust supply chain under which they are
taking care of each and every customer and tracking their needs so as to provide those
bundled services as per their needs and requirements. On the other hand Lloyds bank is
providing all their services under single roof so it is easy for customer to go and have one
stop solutions to all their problems which is not possible in RBS, as RBS is having
numerous banking services from different name and place. On the other side Lloyd is
having their team divided into parts on the basis of their experience and qualification; this
is rendering them additional benefit over their rivals so as to position themselves as a bank
who is having skilled and high proficiency staff.
TASK3
Basic marketing plan for an organisation.
Marketing plan is a functional document which is prepared with a view of developing a
new product or services in the market. A marketing plan involves company's overview,
objectives, strategies and action plan to implement prepared strategies, strength and weakness of
the company in proper to perform situational and comparative analysis. The marketing plan for
Lloyds bank is formulated as under:
Overview of the company: Lloyds bank is a British retail and commercial bank which
was traditionally knows as one in the big four banks in the world. This was founded in 1765 in
Birmingham. Further they expanded their business and amalgamated with numerous banks and
named themselves Lloyds TSB bank Plc till 2013. further in 23 September 2013 they renamed as
Lloyds bank. Lloyds bank is the largest retail banking chain in Britain and having so many ATM
branches and provides telephone banking and 24*7 online banking to their customers. Lloyds
bank is having their headquarter in London, UK. Now Lloyds bank is planning to introduce
investment consultancy to their customer in order to guide them that where to invest their money
to earn high returns.
Situational analysis:
SWOT Analysis:

SWOT analysis is a framework that is taken by organisation in order to find out their
strengths so that they can grab the prevailing opportunities and to recognise weaknesses so that
threats can be eliminated (Stone and McCall, 2004). SWOT analysis of Lloyds bank is as under:
Strengths:
 Lloyds bank is the largest retail banking chain of Britain this gives them the better
coverage over customers and brand recognition in the market.
 Adoption of automation in the working of Lloyds bank lead to increase the market
demand and raising standard of products and services offered.
 The market expansion lead the company to diversify their step-up in the economy and to
earn high revenue.
 Lloyds bank has made strong relationship with major markets this result them in dealing
with any supply chain obstacles and reaching to their target customers without any
problem.
Weaknesses:
 The products and services sold by Lloyds bank is succeed in the market as in sales but in
the term of position in the market these products and services do not hold any specific
position in the market.
 The structure of the organisation is not consistent as according to the current business
scenario.
 They posses profitability ratio under the average level this is hampering the goodwill of
Lloyds bank in a negative manner (Yolal, 2018).
 The products and services offered are not flexible this can provide chance to any other
rival in order to place a position in the market.
Opportunities
 The profitability of Lloyds bank can be increased due to diminishing shipping and
transportation cost, this may lead them to get competitive advantage in the market.
 Due to increase in spending capacity the customers are moving towards banking services
in order to save and invest money so this gives opportunity to Lloyds bank in order to
grow.
 The flexibility to capture new technology attained by Lloyds bank may provide easiness
to adopt emerging technology in order to grab new customers and new markets.

 Introduction of new policies for taxation may considerably impact the working of Lloyds
bank in a positive manner.
Threats
 Due to having operations in numerous country the threat of currency fluctuation is always
exist because of changes in political aspects.
 Policies in global market can be changed due to change in liability laws in different
countries.
 Threats of new entry with some new product is always there with Lloyds bank.
 As Lloyds bank is providing online banking services too, so threat of cyber attack is
always possessed by them, because due to any cyber attack the goodwill can be
diminished (Kashyap and Murtha, 2017).
External environment analysis
PESTLE ANALYSIS: This framework is used to recognise external capabilities so as to
identify those factors which may affect the business operations.
Political factors: These factors include political stability within the country. As in
context of Lloyds, UK is not having stable political condition due to Brexit, so the power
hold by political parties is not very much as at any moment political hold can be changed.
Due to this factor business is having uncertainty of growth.
Economic factors: These factors are associated with buying power, inflation rate, GDP
rate and so many other factors. As in current scenario inflation in increasing day by day, so
due to this Lloyds bank is not able to keep low interest rate over their rendered loan and high
interest over their saving deposits.
Social factors: These factors are associated with trends which are possessed by the
population of the country. As in current situation customer are preferring to have their
banking solution at their home only that means customer are preferring to have net banking
over traditional banking. So as to deal with this situation Lloyds is having their online
platform where all the facilities are provided.
Technological factors: These factors are associated with adaptation of new and
advanced technology by business so as to get market competitive edge and high customer
satisfaction. With reference to this factor Lloyds is using by them such as digital signature
and many more due to which they are able to cater their customer in a considerable manner.