Marketing Plan for Uob
Executive Summary
UOB has been the market leader in the field of credit and debit card businesses since it was established in Singapore in year 1935. Through its long historic accomplishment, it is now the leading bank in the Asia Pacific Region. UOB Lady’s Card was launched in the year of 1989, targeting women, with a comprehensive understanding of the needs of women and the desires of their heart Over the next twelve months, UOB will re launch the Lady’s Card into the market, with greater benefits and privileges exclusively tailored for women. This is done so that the card may remain relevant as more and more women are stepping into society and that the mindset of the generation presently are completely different as compared to those in 1989. The market in which the Lady’s Card operates in is a oligopoly, in which it faces the main competition from DBS Women’s card and CitiBank Rewards Card. Due to the fact that UOB Lady’s card was released years prior to DBS Women’s card, it had won over a major portion of the female market, continuing to outsell its competitor as it has greater standing and it is seen as a better established card. As society progresses, women nowadays are better educated, securing better jobs in the industry and earning higher income that stand almost equivalent to the men. This would enables them to have a higher standard of living, in such a away whereby they are now capable of affording goods that are of a higher prices in terms of their needs and wants. UOB Lady’s Card has captured the hearts of many women that desire to have something that they can exclusively claim to be theirs and the Lady’s Card gave them just that. It fully empowers them to have the ability to use the card to their advantages and earning themselves better perks and privileges, something the men would not have it. DBS Women’s Card was released in year 2004, to compete in the same market as UOB. Although it was not the first card to be released for the
UOB has been the market leader in the field of credit and debit card businesses since it was established in Singapore in year 1935. Through its long historic accomplishment, it is now the leading bank in the Asia Pacific Region. UOB Lady’s Card was launched in the year of 1989, targeting women, with a comprehensive understanding of the needs of women and the desires of their heart Over the next twelve months, UOB will re launch the Lady’s Card into the market, with greater benefits and privileges exclusively tailored for women. This is done so that the card may remain relevant as more and more women are stepping into society and that the mindset of the generation presently are completely different as compared to those in 1989. The market in which the Lady’s Card operates in is a oligopoly, in which it faces the main competition from DBS Women’s card and CitiBank Rewards Card. Due to the fact that UOB Lady’s card was released years prior to DBS Women’s card, it had won over a major portion of the female market, continuing to outsell its competitor as it has greater standing and it is seen as a better established card. As society progresses, women nowadays are better educated, securing better jobs in the industry and earning higher income that stand almost equivalent to the men. This would enables them to have a higher standard of living, in such a away whereby they are now capable of affording goods that are of a higher prices in terms of their needs and wants. UOB Lady’s Card has captured the hearts of many women that desire to have something that they can exclusively claim to be theirs and the Lady’s Card gave them just that. It fully empowers them to have the ability to use the card to their advantages and earning themselves better perks and privileges, something the men would not have it. DBS Women’s Card was released in year 2004, to compete in the same market as UOB. Although it was not the first card to be released for the