Market Analysis and Digital Strategies for NatWest Services

This presentation analyzes NatWest's marketing and communication strategies in the digital world. It begins with an introduction highlighting the importance of digital transformation and effective marketing. The analysis includes NatWest's application of the STP (Segmentation, Targeting, and Positioning) framework, examining how the bank segments its customer base based on factors like age and income. The marketing mix (Product, Place, Price, Process, Promotion, People, and Physical Evidence) is explored, detailing NatWest's offerings, including banking services, loans, and mobile branches. The presentation also discusses the bank's approach to pricing, customer experience, and promotional activities. Furthermore, the presentation discusses CB theory (customer behavior) and identifies opportunities for NatWest, particularly in mobile application development. The conclusion emphasizes the role of marketing and communication in brand growth and development. References to key marketing texts support the analysis.

Principles of Marketing and
Communications in a
Digital World

Introduction
• In present scenario if organisation needs to be successful then they must opt for
digital transformation and must also possess effective marketing strategies.
• Apart form this they need to have appropriate schemes for communication with
their customers by which they can analyse their exact requirements.

STP of NatWest
• This is a three step approach which
consists of segmentation, targeting and
positioning. This is very familiar strategic
approach in modern marketing.
• This marketing process, add value and
increases the marketing plan and
campaign.

Marketing Mix
• It is defined as set of tactics or actions which are used by
organisation for promotion of their products and services
within market.
• NatWest has used marketing mix as it acts a tool which they
can use for accomplishing their organisational goals within
target market.
• NatWest has opted to provide their customer with new
services by which they can provide their customers with

Product
• NatWest has provided their customer with insurance and banking services for
commercial, business and personal customers.
• They provides loans to small businesses under name Esme loans (it is a digital
lending platform).
• They also provide services within rural areas in which they operate mobile
branches by making use of converted vans.

Place
• It plays crucial role in offerings related with tangible services. Quality of services
are sensed by customers in respect to delivery location, their ambience, interiors
and their locational appeal.
• Suppose a bank is present within crowded location than it will have antagonistic
tactual. By furnishing enhanced tangibles in form of interiors and place will seem
more appealing to their target customers.

Price
• It completely depends on services or products which are being offered by bank or
any organisation.
• NatWest have competitive pricing strategy in their marketing mix.
• They try to evaluate mind set of customers in global as well as local perspectives
and makes alterations in their as per that.

Process
• In this aspect organisation will identify ways in which they will produce and
launch their services or products within market place.
• By this they will be able to make their product and services more effective and
efficient for their customers to make use of them.

Promotion
• It refers to activities which are taken by bank or any other organisation by which
they can make their services known to their trader as well as users.
• This comprises of advertisements, commissions, press reports, word of mouth
and incentives.

Physical Evidence
• This is factor which must be considered by organisation. As at present scenario,
NatWest has opted for providing their customers with online features in which
transactions can be made by them.

People
• NatWest is well defined organisation which comprises of employees from
reputed universities and colleges.
• They also have adequate experience in same sector as well as in same domain.
• This experience assists them to carry out their responsibilities in appropriate
manner within NatWest and also have innovative thinking for accomplishment of
their tasks.

Segmentation
• The segmentation of NatWest has been identify to examine the buying or
purchasing behaviour of the customers.
• The requirements, needs, demands and expectations of the customers are
heterogeneous and depend upon some factors which are named as gender, age,
income, lifestyle, and values.