Mkt Homework
1. Executive Summary
HSBC’s management addressed some findings such as decreasing deposit rate, increasing costs, high labour turnover and decreasing profit and they need a marketing strategy to strengthen its market position.
2. Background
The Hongkong and Shanghai Banking Corporation (HSBC) is one of Hong Kong’s largest retail bank. HSBC acquired the Mercantile Bank and The British Bank of the Middle East in 1959, it laid the foundations of today’s HSBC Group
The banner of HSBC is “The world local bank”. HSBC provides personal banking services to the customers all over the world. Under the globalization concept, the satisfaction level between each country may different. And HSBC provides many financial products such as wealth management, personal loan and commercial loan products, mortgages, insurance, credit cards services, personal banking, MPF……In the following essay, we will focus on the personal banking services and the credit cards services in Hong Kong. We look forward to analysis how Market Segmentation, Targeting and Positioning affect the business strategy in HSBC Hong Kong.
(1)
3. Analysis
Due to the differences in buying habit, differences in the way of good or service is used and different motives for buying. These make Segmentation is necessary.
Market Segmentation allows managers to visualize their prospective customer in designing a (Marketing Mix).
Concentrate their resources on only one or a few market segments.
A. Geography
HSBC has many branches in Hong Kong. The customers can find the HSBC branches near their working place and living place easily. In business area such as Central. HSBC provides the “Dedicate CMB Services” to the commercial customers. Beside this stuff, the credit cards provided by HSBC are the most convenient way to customers because of the rewards plans by HSBC credit cards services. For example: The “ Red Hot Rewards of your choice”. It allocate extra 5X Reward Cash
HSBC’s management addressed some findings such as decreasing deposit rate, increasing costs, high labour turnover and decreasing profit and they need a marketing strategy to strengthen its market position.
2. Background
The Hongkong and Shanghai Banking Corporation (HSBC) is one of Hong Kong’s largest retail bank. HSBC acquired the Mercantile Bank and The British Bank of the Middle East in 1959, it laid the foundations of today’s HSBC Group
The banner of HSBC is “The world local bank”. HSBC provides personal banking services to the customers all over the world. Under the globalization concept, the satisfaction level between each country may different. And HSBC provides many financial products such as wealth management, personal loan and commercial loan products, mortgages, insurance, credit cards services, personal banking, MPF……In the following essay, we will focus on the personal banking services and the credit cards services in Hong Kong. We look forward to analysis how Market Segmentation, Targeting and Positioning affect the business strategy in HSBC Hong Kong.
(1)
3. Analysis
Due to the differences in buying habit, differences in the way of good or service is used and different motives for buying. These make Segmentation is necessary.
Market Segmentation allows managers to visualize their prospective customer in designing a (Marketing Mix).
Concentrate their resources on only one or a few market segments.
A. Geography
HSBC has many branches in Hong Kong. The customers can find the HSBC branches near their working place and living place easily. In business area such as Central. HSBC provides the “Dedicate CMB Services” to the commercial customers. Beside this stuff, the credit cards provided by HSBC are the most convenient way to customers because of the rewards plans by HSBC credit cards services. For example: The “ Red Hot Rewards of your choice”. It allocate extra 5X Reward Cash
References: http://www.ukessays.com/essays/business/marketing-strategies-hsbc.php http://www.asianbanks.net/HTML/Countries/HK/mktshare.htm http://www.etnet.com.hk/www/tc/news/categorized_news_detail_eng.php?category=company&newsid=ETE201201139 http://business.highbeam.com/436091/article-1G1-201829557/hsbc-says-gained-hong-kong-market-share-deft-marketing http://www.nytimes.com/2009/11/27/business/27hsbc.html?pagewanted=all http://www.hsbc.com.hk/1/2/home http://www.newstatesman.com/banking-and-insurance/2010/02/hsbc-market-financial (11)