Metro Bank Marketing Report: Promotional Strategies

This report provides a comprehensive analysis of marketing strategies, focusing on a promotional plan for Metro Bank. It begins with an introduction to communication and the importance of a well-defined communication plan. The report then identifies the target audience and their characteristics, followed by an overview of the promotional mix theory. It proposes social media as the optimal promotional channel for Metro Bank, detailing its advantages. The report also addresses the key communication message, the application of AIDA (Attention, Interest, Desire, Action) in advertising, and the use of surveys for feedback collection. The conclusion summarizes the key findings, emphasizing the importance of effective communication in marketing. The report references relevant academic sources to support its analysis and recommendations. Desklib provides this report as part of its collection of past papers and solved assignments for students.

Marketing and
Communications

Table of Contents
1) INTRODUCTION.......................................................................................................................1
MAIN BODY...................................................................................................................................1
2) Target audience and their characteristics................................................................................1
3) Promotional Mix theory..........................................................................................................1
4) Proposed promotion Metro bank should adopt and advantages and disadvantages of the
promotion....................................................................................................................................2
5) Chosen channel to be used and justification...........................................................................2
6) Communications key message................................................................................................3
7) Use of AIDA...........................................................................................................................3
8) Method to be used to collect feedback....................................................................................3
.....................................................................................................................................................4
CONCLUSION................................................................................................................................4
REFERENCES................................................................................................................................5

1) INTRODUCTION
Communication refers to exchanging information through writing and speaking. In this,
two or more than the two people interact with each other. Communication plan is an approach
related to policy- driven for giving stakeholders with the information. Regarding all aspects of
plan, project manager is chargeable involving communication plan. It is the responsibility of
manager to prepare a better plan. The main purpose of purposed plan is to doing all things in a
systematic manner (Kim and et. al., 2014). In order to promote the new product, there is a
promotional mix theory uses by company. Under this given report mentions about the target
audience and also their main characteristics.
MAIN BODY
2) Target audience and their characteristics
Target audience is intended audience of advertisement, publication and some other
message. It is a specific people group, determined as intended recipient of message. It is also
known as the target population.
For an example, if firm introduces new mobile phones then its main target will be young
people which uses mobile phones more. There are some characteristics of target audience given
below:
General characteristics
 On the basis of demographics like age, group, gender and others
 Less and more fixed characteristics of customers.
Brand characteristics
 Segment market on the basis of beliefs, loyalty, etc.Concerned towards using and
purchasing the brand
3) Promotional Mix theory
Promotion is a tool in which marketing manager of company communicates with
different customers in order to get them aware about different services and products in order to
accomplish goals and objectives of organisation (Promotional Mix, 2017). Promotion mix theory
is concerned with promoting different kinds of products and services provided by the bank in
order to maximise sales of products (Smith and Zook, 2011). These theories help to make
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various decisions to promote different products and services. Under promotional mix theory
includes:
 Advertising: Marketing manager of Metro bank implements different strategies in order
to promote different products and services of organisation. By different mediums of
advertisement, bank can accomplish the goals and objectives of organisation.
 Personal selling: Manager of Metro Bank appoints various representatives in order to
communicate directly with their customers to get them aware about different products
and services provided by the organisation.
4) Proposed promotion Metro bank should adopt and advantages and disadvantages of the
promotion
There are many different types of promotion which firms use to make people aware about
their new products (Belch and et. al., 2014). In addition with introducing new policies and loan
related schemes, Metro Bank uses the promotion through newspapers, televisions and social
media through organising an event and many others. But among all, Metro Bank uses the Social
media. Through this, it can achieve its main aim in an effective manner. Promotion has some
advantages as well as disadvantages.
Advantages
 It helps in making people aware.
 Increases staff members to use their skills and knowledge.
Disadvantages
 Not helpful in accomplishing the main success.
 It can be costly.
5) Chosen channel to be used and justification
In order to promote its policies and schemes, the main channel which Metro Bank
chooses is Social media. It is an effective or better way of promotion. In the present time period,
each and every person uses social media and so, this bank does its promotion with the help of
social media. It is under the budget and through this, it can make the information reach to all
persons and through social media, people can forward or refer other people (Wallnöfer and
Hacklin, 2013). With the help of this, company can connect with a large number of people and
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make them aware about the policies and scheme with understanding about their importance in a
proper manner.
6) Communications key message
Communication refers to exchange of data and information with the help of speaking as
well as writing. They develop meaning and also the headline of problems which firm want to
consult. Through this, company improves the relationship with consumers and allows
communication to control (Kim and et. al., 2014). In this, two or more than two persons
exchange their feelings, statements, etc. Key message is related to those points which an
organisation wants to target the audience to remember and also hear. It is a kind of strong
statement regarding belief of an organisation about itself.
7) Use of AIDA
AIDA (Attention, Interest, Desire and Action) is a marketing term and it is used in
advertisement to define steps which occur from that time when customer first time aware about
the product through trial and after that take decision regarding purchase that product. AIDA is
helpful in defining how marketing messages or an advertisement engaged customers in choice of
brand. To reach message to consumers, Metro Bank uses the social media tool for promotion and
from this, it can achieve its objectives in a systematic or better manner. This bank communicates
its message to consumers in a better manner (Belch and et. al., 2014).
8) Method to be used to collect feedback
In order to gather feedback, Metro Bank uses the survey method. In this, bank does the
survey to know about perception of consumers and also, see that how much people are aware
from the new policies and schemes of bank. With the help of survey, it can know about the
effectiveness of promotion which Metro bank used.
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CONCLUSION
From the above report, it has been concluded that communication is a better tool to
interact with people. Under this mention assignment studied about the promotional mix theory
and method of promotion which are used through Metro Bank.
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REFERENCES
Books & Journals
Belch, G.E and et. al., 2014. Advertising: An integrated marketing communication perspective.
McGraw-Hill Education.
Kim, K and et. al., 2014. Trends in advertising research: A longitudinal analysis of leading
advertising, marketing, and communication journals, 1980 to 2010. Journal of
advertising. 43(3).pp.296-316.
Smith, P.R. and Zook, Z., 2011. Marketing communications: integrating offline and online with
social media. Kogan Page.
Wallnöfer, M. and Hacklin, F., 2013. The business model in entrepreneurial marketing: A
communication perspective on business angels' opportunity interpretation. Industrial
Marketing Management. 42(5). pp.755-764.
Online
Promotional Mix, 2017. [Online]. Available through: <http://marketingmix.co.uk/promotional-
mix-2/>.
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