Marketing Essay
2012
THE AUSTRALIAN NATIONAL UNIVERSITY
CURTIN AND JERRABOMBERRA COMMUNITY® BANKS
MKTG2004 | Joanna Chan U4709491 and Ankita Sen U4720342
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DISCLAIMER
The authors of this content whose views can be found within this marketing plan assure you, the reader that any of the opinions expressed herein are our own and are the result of the research conducted. This report is our interpretation of the market position of Bendigo Bank and the Bendigo Community Bank branches in the Curtin and Jerrabomberra region. We would like to convey to you (the reader) that it is completely unintentional if we were to defame or damage the brand through the content contained within this report, and therefore cannot be held responsible. We recommend that professional advice be sought before implementing any aspect of the plan. 25th May 2012
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EXECUTIVE SUMMARY
This marketing plan was commissioned by Mr. Andrew Hughes on behalf of Bendigo Bank, to create awareness for new community branches in Curtin and Jerrabomberra. This plan is structured with an aim to help create awareness as well as acquire new customers and encourage bank switching. Bendigo Bank differentiates itself from its competitors by working on the communitybanking model. Every year, 80% of profits are returned to the community in the form of various projects and donations. Bendigo Bank places a strong emphasis on maintaining relationships with the community it serves and has ranked consistently well in terms of customer service and friendliness of staff. This marketing plans aims to meet the goals established above, without compromising Bendigo Bank’s brand image and values. After careful analysis of market conditions and competitors, as well as keeping in mind the specific targeted market of Bendigo Bank, it is recommended that: Together with print advertising, cinema advertising in Hoyts, Woden should be carried out as it is most likely to be patronised by
THE AUSTRALIAN NATIONAL UNIVERSITY
CURTIN AND JERRABOMBERRA COMMUNITY® BANKS
MKTG2004 | Joanna Chan U4709491 and Ankita Sen U4720342
[Type text] Page 1
DISCLAIMER
The authors of this content whose views can be found within this marketing plan assure you, the reader that any of the opinions expressed herein are our own and are the result of the research conducted. This report is our interpretation of the market position of Bendigo Bank and the Bendigo Community Bank branches in the Curtin and Jerrabomberra region. We would like to convey to you (the reader) that it is completely unintentional if we were to defame or damage the brand through the content contained within this report, and therefore cannot be held responsible. We recommend that professional advice be sought before implementing any aspect of the plan. 25th May 2012
[Type text]
Page 2
EXECUTIVE SUMMARY
This marketing plan was commissioned by Mr. Andrew Hughes on behalf of Bendigo Bank, to create awareness for new community branches in Curtin and Jerrabomberra. This plan is structured with an aim to help create awareness as well as acquire new customers and encourage bank switching. Bendigo Bank differentiates itself from its competitors by working on the communitybanking model. Every year, 80% of profits are returned to the community in the form of various projects and donations. Bendigo Bank places a strong emphasis on maintaining relationships with the community it serves and has ranked consistently well in terms of customer service and friendliness of staff. This marketing plans aims to meet the goals established above, without compromising Bendigo Bank’s brand image and values. After careful analysis of market conditions and competitors, as well as keeping in mind the specific targeted market of Bendigo Bank, it is recommended that: Together with print advertising, cinema advertising in Hoyts, Woden should be carried out as it is most likely to be patronised by
References: 2. BACKGROUND 2.1 INDUSTRY In 1984 the Australian government attempted to increase competition by granting foreign banks 16 operating licenses that allowed them to compete in the domestic market (Cutcher & Wailes 2006)