Marketing System Evaluation: A Report on ANZ Bank's Strategies

This report provides a comprehensive analysis of the marketing system employed by ANZ Bank. It begins with an introduction to the bank, highlighting its global presence and commitment to various stakeholders. The report then delves into the role of ANZ Bank within the marketing system, emphasizing its focus on customer needs, financial services, and advertising campaigns. It also explores the bank's opportunities, such as expansion in Asian markets and strong employee relations. However, the report also addresses the issues faced by ANZ Bank, including criminal cartel charges and increased competition. Finally, the report concludes with recommendations for ANZ Bank to overcome these challenges, such as focusing on customer needs, fostering a diverse culture, and implementing innovative strategies to attract customers and gain a competitive advantage.

Running Head: Marketing System 0
Marketing System
Student Name
Date

Report on marketing system of ANZ Bank 1
Table of Contents
Introduction –.............................................................................................................................2
Role of ANZ Bank within a marketing system –.......................................................................2
Opportunities for ANZ Bank –..................................................................................................3
Issues faced by ANZ Bank within marketing system –.............................................................3
Conclusion & Recommendation –.............................................................................................4
References –...............................................................................................................................6

Report on marketing system of ANZ Bank 2
Introduction –
ANZ bank is one of the largest banks across the whole world because they have more than
five millions customers and the bank has the AUD$247 billion assets. The bank has more
than 28,000 employees and located in different geographical areas such as Australia, New
Zealand, Asia, United Kingdom and United State of America. The bank has values towards
their business, customers, people, communities and shareholders. The bank also put various
efforts to maintain and achieve the highest standard of continuous disclosure and corporate
governance and also try to gain competitive advantages by implementing innovative
strategies in their organization (ANZ Corporate Information, 2019). The report consists of
role of ANZ bank within the marketing system, issues which faced by them and
recommendations to overcome that issues.
Role of ANZ Bank within a marketing system –
1. ANZ bank is committed to continue involved in banking royal commission with doing
effective work and invest more to build trust of the customers and community.
2. ANZ Bank mainly focuses on needs and requirements of their customers and always
tries to gain high customers satisfaction than its competitors. The bank focuses on
their financial and corporate institutions and connected to the bank’s core markets by
capital flows and trade. They have one strategy to design their product and services as
per the needs and requirements of the customers, in the mind of reducing the overall
cost of operation of the organization, reducing risk and complexity (Key issues,
2019).
3. They provide various financial and banking services to their business as well as retail
customers to achieve its common objectives. The bank also transfers some essential
skills and knowledge to their employees and their customers, so that it will help them
in achieving their goals.
4. The bank use various advertising campaign to increase awareness about their products
and services to the large numbers of people. So, it helps the organization in increasing
the number of customers, increase the productivity and performance of the
organization and achieve the overall objectives and goals of the organization.

Report on marketing system of ANZ Bank 3
5. The bank also use content marketing to market their products and services among the
large number of people such as online media publications and blue notes (Our
Strategy, 2018).
6. The bank plays an important role in improving their customer experience. ANZ bank
takes various actions related to Royal commission. These are:
 They do not charge interest from the farmers when area hit by natural
disasters.
 Provide farm debt to the farmers and also provides them work outs
 Implementing phone services and tries to make easier to options related to
account identifications for the customers.
 Proactively connecting with the customers and encouraging them to move to
other better options which have low cost and risk.
 The bank also removes dishonour fees from the accounts related to Pensioner
Advantage (ANZ takes actions on Royal Commission recommendation, 2019).
Opportunities for ANZ Bank –
So, by adoptions of various strategies relevant to their customers, employees and other
stakeholders, ANZ bank has various essential opportunities which help the bank in
developing in future and also help them in achieving their organizational goals and objectives
(Tan, 2013). These are the following:
1. This is the first bank who receive licence and to locate retail business in China.
2. The bank has the opportunity to grow in Thailand market.
3. ANZ Bank also has high opportunity to expand its business in Asian market because
of their innovative, diversification of their products and services, high market share,
strong financial and banking position across the whole world and strong position in
the market than its competitors.
4. The bank has good and effective relations with their employees as well as their
customers and also has high employee engagement.
5. Bank also has the opportunity to locate their business in new and different market
(Corporate sustainability review, 2017).

Report on marketing system of ANZ Bank 4
Issues faced by ANZ Bank within marketing system –
There are various issues which are faced by ANZ bank in Australia related to their marketing
system and these issues impact on their financial position and productivity of the bank. It
includes:
1. The bank is facing charges related to criminal cartel in Australia as well as New
Zealand which are charged by Australian Competition & Consumer Commission
(McGowan, 2018).
2. ANZ bank has lack of focus on their general customers as well as business customers.
3. Due to increase in competition, the bank is also facing challenges in term of their
revenue, customers, performance, productivity and profits.
4. Due to miss- selling a product of superannuation and transform their financial product
from superannuation to worst performing products or financial services, the bank
faced issue of losing the licence of financial services (Lannin, 2018).
Conclusion & Recommendation –
Hence, ANZ bank plays an essential role within the marketing system of the organization.
The bank always tries to focus on the needs of the customers and provide financial services to
them as per their requirements. They also use advertising campaign to promote their financial
products and services among the large number of customer across the world. They take
various actions related to royal commission, so that it helps the bank to improve its customers
experience and to gain high customers satisfaction than its competitors. Bank has various
opportunities such as to grow in Thailand market, good relations with its employees, locate
their business across different geographical area and they have high employee engagement.
But, they also some challenges such as charge of criminal cartel across the country and
increase in competition and reducing the focus on selling superannuation products or services
to their customers.
So, ANZ bank should take various steps to overcome the above challenges which are facing
by them. These are:
1. More focus on the needs and wants of the customers and try to fulfil their needs.
2. Creating diverse culture within the organization and apprise their employees by
rewards and recognition for their best performance.

Report on marketing system of ANZ Bank 5
3. Ensuring the sustainable financial growth for their shareholders and try to managing
risk related to shareholders.
4. Provide training and development programs to their employees related to how they
can improve their performance, how they can market the financial products of the
bank among huge customers.
5. The bank has to maintain partnership with the communities.
6. Try to implement innovative strategy for attracting the customers towards their
organization and it will also help them to gain competitive advantages.

Report on marketing system of ANZ Bank 6
References –
ANZ (2019) ANZ Corporate Information [Online]. Available from:
http://www.anz.com/australia/aboutanz/corporateinformation/company.asp [Accessed
09/05/2019]
ANZ (2019) ANZ takes actions on Royal Commission recommendations [Online]. Available
from: https://media.anz.com/posts/2019/02/anz-takes-action-on-royal-commission-
recommendations [Accessed 09/05/2019]
ANZ (2019) Our Strategy [Online]. Available from:
https://shareholder.anz.com/reviews/2017/our-strategy/ [Accessed 09/05/2019]
ANZ bank (2017) Corporate Sustainability Review [Online]. Available from:
https://www.anz.com/resources/a/a/aad685ed-7d0f-47c7-9336-3150608aee61/accessible-
csreview-2017.pdf?MOD=AJPERES [Accessed 09/05/2019]
ANZ bank (2019) Key Issues [Online]. Available from:
https://www.anz.com/aus/about/key_issues.asp [Accessed 09/05/2019]
Lannin, S. (2018) Bank royal commission: ANZ worried it could lose its licence over
superannuation advice given by branch staff [Online]. Available from:
https://www.abc.net.au/news/2018-08-16/bank-royal-commission-anz-worried-for-
superannuation-licence/10124790 [Accessed 09/05/2019]
McGowan, M. (2018) ANZ bank to face criminal cartel charges [Online]. Available from:
https://www.theguardian.com/australia-news/2018/jun/01/anz-bank-to-face-criminal-cartel-
charges [Accessed 09/05/2019]
Tan, M. (2013) Corporate Governance and Banking in China. United Kingdom: Routledge.