Marketing Essentials Report: Marketing Plan of NatWest Bank

This report provides a comprehensive analysis of the marketing essentials, focusing on the case of NatWest Bank. It begins by exploring the role of marketing and its interrelation with the wider organizational context, including an analysis of marketing functions and their interplay with other functional areas. The report then delves into the differentiation of marketing mix elements, specifically the 7Ps (Product, Price, Place, Promotion, People, Process, and Physical Evidence), to achieve organizational objectives. The report illustrates how these elements are applied in the context of NatWest Bank, including a comparison with another bank (AI Ryan Bank UK). A key component is the development and evaluation of a marketing plan for a new product or service offered by NatWest Bank, with a detailed examination of the 7Ps of the marketing mix. The report concludes with a summary of the key findings and insights regarding the marketing strategies and their effectiveness within the banking sector.

Marketing Essentials.

Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
TASK 1............................................................................................................................................1
Role of Marketing and interrelation with wider organisational context.................................1
P2. Illustrate about interrelationship between wider organisation context.............................2
D1 Analyze and evaluate elements of marketing function and in what manner they interrelate
to functional areas...................................................................................................................2
TASK 2............................................................................................................................................2
Differentiation of Marketing Mix elements to achieve organisational objectives.................2
M3 Different tactics applied by organizations to determine how objectives would be achieved
................................................................................................................................................4
Task 3...............................................................................................................................................4
P4. Produce and evaluate a marketing plan for specific organisation....................................4
D2. Marketing plan of Nat West bank new product through 7ps of marketing mix..............7
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
Marketing is the description that define to producing, manufacturing , advertising and
promoting in different sources to create better awareness of product and services in competitive
market. The main motive of marketing is to scrutinise information and regarding with specific
product and it get to relate with customer in perspective (Al Khoury., Thrassou, and
Papasolomou , 2020). The function helps organisation to know and meet demands of consumers
with changing times which are supported by extensive and elaborated research by business
organisations. Thus through this function a business attracts more customers in targeted markets,
increase their awareness about products and services offered by company and then convince
them for buying these products. The task of marketing is consumer oriented and includes
different dimensions. On the basis of this report the organisation is considered is Nat West Bank
which is commonly known as Nat Westminster bank which commercial retail banking system as
it is situated in Scotland, United Kingdom. As per the topic and report is having objective to
making effective marketing plan which better specify facts and figure regarding with banking
areas. Along with, roles and responsibilities of marketing function as well as organisational
context (Chauhan,, Yadav and Choudhary., 2019). To differentiate and consider two banking
company and evaluate their difference by using 7ps of marketing mix. At last, marketing plan
along with evidence and new product and services prevails by the selected organisation
effectively
MAIN BODY
TASK 1
Role of Marketing and interrelation with wider organisational context
The process of marketing is conceptualised on the basis of product and services production
and advertising practises to market along with better create awareness to generate more
productivity. This is having maximum number of consumer through which market segmentation
and having target market to create presence for convince customer on the basis product and
services (Lebdaoui and Chetioui , 2020). The main focus of marketing creates better satisfaction
of customer which unlike to selling. In perspective of NatWest bank they usually provide retail
banking services like transaction monetary, collection of cash, opening people accounts etc.
According to this marketing unit of NatWest bank use to develop strong relationship for high
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level of satisfaction within better customer. There are different roles and responsibilities
regarding with Nat West bank perspective of marketing:
Analysing the customer needs: In marketing it is a most important function which every
company use to concerned about their customer and clients needs and wants. In stitution of
NatWest banking company they have also scrutinise certain information regarding their customer
needs in terms of banking related activities like opening accounts transition of cash provide them
financial platform to investment for better Returns. All these factors has to company in order to
take benefits for first mover that company can meet their demands and requirements of
customers effectively along with efficiency.
Carry function of customer satisfaction:;’It is been considered to be the one of main function
which is carried by marketing unit on which marketing and carries role of satisfying of customer
in terms of offering them quality products and services order to make customer satisfaction.
Introspective of NatWest banking company to make their customer satisfaction by providing
them that a banking service. This could identify various issues of customer so that they could be
resolved with efficiency and customer would get satisfied by the services which provided by net
West banking company effectively.
Generate profitable outcomes: As per the marketing unit is generally carried by a function of
selling their products in the customer in an innovation along with creativity way. On the basis of
marketing manager of NatWest company that should and sure about offering customer packages
and value of added product as well as services in which not beneficial only customer but also
benefit to increase better goodwill to corporate Market by increase amount of their
profits( (Malaquias and Silva., 2020). This is only helps company in order to sustain in various
Complex situation on which offering product as a service three ways in a creative manner. It is
difficult for banking sector to mobilize their profit at the time of recession inflation and facing
high crisis of economic downfall that generate more decreasing in profit. As if the gross
domestic product would specific company then every banking and other businesses would get
higher profit benefit.
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Define strategic Marketing Plans- Marketing plans are set of proper rules, procedures,
methods and strategies in an organised manner for achieving success in Marketing efforts. Nat
West Bank understood this best that without planning there is no success and most cost-effective
plans are those which satisfies long term purposes. The company adheres strictly with their
plans, which are formed after effective research and hypothesis, this also help Tesco in
mitigating negative results and deviations.
M1.
It is been analyse from above roles and responsibility of marketing as it generates many other
specification which need to consent by NatWest banking company such as
 To better monitor business and marketing surrounding in networked banking company
where the managers need to assess the market of financial latest business where they can
generate more banking business and having new development which are available in
marketing surrounding. This would be beneficial for network company to get
constructive response in terms of development by facilitate data offers banking services
to Cooperative international banking market.
 As per the perspective of NatWest company in banking sector they having a brand equity
for developing as well as building of a strong reputation in competitive banking market.
They usually follow systematically compliance oriented process for customer influence in
order to purchase their product and services and targeting potential candidates and clients
to invest in their banking products for or advancing more and more clients and customer
about its benefits
P2. Illustrate about interrelationship between wider organisation context.
In terms of organisation there are different departments service marketing coordinator with each
other and make their work practices flexible by systematic planning and execution to generate
more positive outcomes (Rajaobelina., Brun and Ricard., 2019). Similarly NatWest company
having walking departments like human resource, finance customer service and more marketing
co-ordinate with them and distribute each other work to stimulate and implement to certain
positive results such as
 Marketing and Finance Department: The terms of an ancestor they have the the liability
to implement that are required font so the business organisation can work on a flexible
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nature and in a smooth manner. There is a reason behind that the without diverse
Estimation and heading of overall cash flow the specific organisation marketing cannot
be properly initiated. And perspective of NatWest banking services their human resource
usually higher potential candidate who have linked with their banking practices and they
provide some manpower to marketing team where is marketing has to HR department for
promoting their recruitment practices in digital as well as online platforms.
 Marketing co-ordinate with finance department: On the basis of preceptor of laboratory
generate more to Capital invest in business. It ensures that compliance auditor financial
capability should be available within the organisation so that overall department work in
organised plan budget effectively. On the basis of NatWest banking company that
identify the needs of proper communication between to department to the marketing
department and convey their needs to budget and perform on research planning
promotion and distribution of functions and join with other marketing partners to arrange
to as per the plan budget.
 Marketing with customer services: According to this customer services is mainly works
in banking sector business where NatWest banking company having deal with customer
provide banking services through online as well as offline source mode. In this marketing
coordinator with customer service to provide them investors and tools on which people
can easily access to create their banking requirements easily done from online
applications and other operation factors.
M2.
Marketing is used to consider about the business element which is being evaluated that
helps in coordinating to other functional traits of company so that they can achieve their
perspective and purpose and reach the top level. As NatWest banking services having three main
departments human resource finance and customer services in which marketing coordinator with
their working practices and make this fulfil all demands because it is necessary to mention better
banking services provide to write customer for their satisfaction. In this department customer
service plays an important role in net West banking company where banking services to provide
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customer in which customer service resolve over situations related issues and queries which
customer having prevails.
D1 Analyze and evaluate elements of marketing function and in what manner they interrelate to
functional areas
While evaluating the above elements of marketing in terms of how they play roles and
responsibilities in the organization to implement the practice and increase the business volume in
an efficient way. There are certain other functions like brand image, customer satisfaction and
marketing research which are considered as significant elements in Cadbury. The relation of
marketing with other departments is to coordinate their whole work and upgrade a productive
and competitive marketplace.
TASK 2
Differentiation of Marketing Mix elements to achieve organisational objectives
Basic Nat West bank AI Ryan Bank UK
Product The marketing strategy elements that
reflects the proper solution towards the
better customer needs. NatWest banking
is must assurae about develop unique
product and services design and having
more features in market.
On the basis of definbe about the
specification of offering product
by AI Rayan Bank is more than
service that counted as tangible
and intangible. Every product
that made better cost and each
sold into price.
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Price On the basis of marketing strategy
elements requires an evaluation of the
value of product and services customer.
Thee is better pricing strategy which Nat
West bank would follows that can be
penetrating pricing strategy to enhance
better low level services.
As it is Islamic banking service
where their pricing on marketing
mix price where it is normally
charged high depend upon on
their prices. As the price is only
that element that describe about
to effectively. usually they
follows premium pricing
strategy on their banking
services.
Place On the basis of marketing strategy
elements requires Nat West to make
some important decision for better
developing distribution plan.
The traditional distribution
which follows financial service
planning of marketing.
Discussing placement along with
distribution of financial product.
There would be intermedies for
better trading platform (Razzaq
and Hong, , 2019).
Promotion The better promotion planning to
promote banking services Nat West bank
company approaches poster and digital
online marketing process to create more
awareness within customer presence of
mind effectively. Therefore, they mostlt
target to advertise their banking services
in TV, radio and promotional options.
As the Islamic bank approach
unique banking concept in order
to promote their banking
services. This is happening
because implementation Western
marketing tools which is having
Islamic banking approaches as
well as approach digitalisation
platform to promote better way
of services promotion
effectively.
People Nat West bank is having process to better
generate online service for making better
The people are currently
working around more than 250
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creative and generate awareness. No of
employees are working is around more
than 500 to handle more than 1000
branches
employees
Process The process which follows by the Nat
West bank company that customer can
access information through online or
offline Nat West bank near their locality
The better process of banking
services to produce online
platform and better generate
customer interaction effectively.
Physical Evidence On the basis of physical evidence that
circulate on services which influence on
United Kingdom aspects that prevails
more competitive advantages (Razzaq,
Yousaf, , Akram, , 2021).
AI Rayan is small business of
banking where it provide their
service overall United kingdom
and its logo is quite influence in
various areas.
M3 Different tactics applied by organizations to determine how objectives would be achieved
There are numerous strategies of marketing mix which are very important and these are product,
place, price, people, process, promotion and physical evidence. The elements which are applied
by an enterprise helps in assessing which services will customers want and how their satisfaction
will be built up. At the same point of time promotion and pricing activities help the corporation
in attracting large numbers of customers through which profitability as well as productivity gets
enlarged. In relation with focusing only on the element of people as well as process organizations
can enhance their positions from whole marketplace. In context with physical evidence they
found clear a difference in comparison with other companies.
Task 3.
P4. Produce and evaluate a marketing plan for specific organisation.
There are more marketing strategic plans for modern times where it generates marketing process
and second biggest expense after payments of salaries along with wages. The requirement of
marketing plan is necessary as it will prevails some sort of ideas and planning to execute product
and services that help to gain more competitive advantages. New resources and budget
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estimation plays an important role to mapping about circumstances which more gain competitive
advantages. There is mission, vision and Smart Objective such:
Mission: It is statement where it building more sustainable bank bringer stronger governance
policies framework of better strategy.
Vision: Their vision statement towards serving customer on which working within together
doing with better right things. As NatWest Bank used to serve 24 millions customer from their
banking services.
SMART objectives:
NatWest bank is planning to bring online e-banking services which can easily access by
customer from anywhere through their mobile phones and electronic digital gadgets.
Specific: The main focus of Nat West bank to make their digital e-banking services to targeted
customer who are seeing for flexible banking activities that would provide benefits to generate
more customer retention effectively.
Measurable: The company is enlarge their marketplace of banking for more improvising
effective customer base.
Achievable : As the Nat west bank is initially invested in different segments like local and
international market for approaching more customer and banking service can provide to
customer. Somehow, Nat West banking usually generate 24 million subscriber customer where
they are currently using Nat West banking services.
Realistic: - The brand receives large amount of profits by assessing present and past sales
through enabling all revenues.
Time bound: - In context with achieving all goals and objectives and attracting maximum
customers the brand took the time period of 6 months in order to achieve all goals and
objectives.
STP Analysis:
Segmentation: According to this market place the brand is always has been seeking for better
banking services to provide right customer. In the perspective of Nat West banking company
are seeking for effective business and private banking.
Targeting: For better digital base e-banking services to enterprises and individual investors to
pointing out right form of customer.
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Positioning: For Nat West banking company would have complete banking process where
venture can provide financial solutions.
SWOT Analysis:
Strength Weakness
 Nat West Banking service is provide
diversified solutions.
 They usually main focus on better
customer focus which generate more
positive working outcomes.
 NatWest banking is having wide
customer around 24 millions around
the world along with 1,600 branches
and 1400 cash equipment.
 They has 850,000 banking business
on small business accounts.
 NatWest banking is having strong
promotional marketing team.
 Controversies which is related
towards internal audit damaged brand
image.
 There is less global penetrations.
Opportunities Threats
 There is more opportunity in Forex
market and Nat West banking
company can expand their business
where they can generate more
competitive advantages.
 By having high competition of
international banking services such as
HSBC and World bank type can
overtake the market.
 Strict government policies and
regulation on fluctuating market
M4. Illustrate and analyse about Coherent evidence based marketing plan.
Action plan:
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Budget Allocation: According to the marketing team of Nat West bank can prepare about their
better planning of E-banking online digital base product Application which would generate more
business operation within efficient manner.
Particulars Amount((£)
Marketing 15000
Promotion 7000
Print media 4000
New recruitments 13000
(Total) 39000
Monitoring and Controlling
As per the procedure about Nat West Bank company to approaching monitoring and
controlling where it depicts towards better investment which is involve high level of ground for
better exploring as company like Nat West Bank manager invested in their new project or new E-
banking online service of Application innovative business of introducing is Human Health base
nutrition product get to attain in better way. Advanced types of resources, manpower,
promotional strategies implemented towards gain high positive outcomes expects and to further
approaching of controlling activities on negative flaws and lacking in performance to support for
reducing or better improvising for optimum getting positive better outcomes
D2. Marketing plan of Nat West bank new product through 7ps of marketing mix.
Marketing Mix Nat West new E-banking online digital product
Product The product which bis optimised by Nat West bank company is online
platform which will help to circulate different type of banking online
service like deposits of cash, checking online bank account balance,
booking of tickets like transportation, movie and much more.
Price There is no pricing strategy Nat West bank company applies but there
is subscription charges of Yearly which generates once in time that
people need to subscribe for verification purpose.
Place It would be available on usually Play Store as it launch in form of
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