correcting Powerpoint presentation for Marketing and public relations class
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TransnationalBankunit4IPneedcorrected.pptxTransnational Bank
Public Relations and Advertising Strategic Plan
MKTG320-1801A-01
Introduction
Skillful PR marketing, and advertising
Strategy implementation
Potential customers
Perhaps provide an orientation to the strategic objectives of the bank?
Skillful public relations, advertising, and marketing plans have resulted into business recording major improvements in terms of revenue accumulation and consumer base. Determining potential clients and implementing appropriate strategies to enhance consumer loyalty is of significance. Therefore the management board is advised to observe appropriate marketing strategies to facilitate growth.
2
Strategic Planning
Advertising
Public relations
Market promotion
Strategic objectives
Advertising, public relations and sales management offers promotion strategies for various banks and financial institutions that can promote their online reputation in the market and obtain new customers. Advertising managers usually direct an organization’s promotional and advertising campaign. Banks to aim to achieve their goal of improving their revenue and this can only be obtained through the achievement of having a proper promotional campaign to achieve a larger customer base.
3
Marketing Objectives
Specific
Measurable
Achievable
Realistic
Timed
You must apply the SMART framework to your marketing objectives.
The SMART methodology indicates that a business should develop specific, measurable, achievable, realistic, and timed objectives. Specific objectives focus on one goal at a time hence the bank’s main focus will be effective public relations and advertising. Measurable objectives determine the bank’s marketing success in terms of units of measure like return on investments. The bank’s long term goals for penetrating new target markets is both achievable and realistic since it has been in business for the last 30 years hence enjoys the benefit of market experience.
4
Target Segment Identification
Unprofitable market segment
Psychographic needs
Provide loans
Proper advertising
So is your new target segment the current customers? In what way is it new?
Since the current marketing strategy is to utilize the existing customers to help penetrate new markets, the bank should grow outside its present unprofitable market segment. Basing on the psychographic needs and the emergence of mega banks with large equities, the bank should invest more, provide loans and high end savings to boost its relationship with its current standard banking customers in its segment through advertising.
5
Target Segment Comparison With Current Target Segment
Deriving great financial value
Establishing a robust market share
High end savings
Accrue more revenues
So is your new target segment the current customers? In what way is it new?
The current target segment for the bank is standard. Services offered include savings accounts, checking accounts, CD’s, and loans. However, since the bank plans to establish a robust market share and accrue more revenues through returns on investment (ROI). The target market segment focuses on high end savings that will include certificates of deposits, higher dollar value, and long-term savings products which are aimed at deriving great financial value from customers.
6
Channel Comparison and Selection
Increase brand awareness
Newspapers and radio ads
New market entrants
Digital marketing strategies
Which channels are you selecting for your new targets? And why?
Traditional marketing strategies easily reach the local target market. For instance the use of newspapers and radio ads may increase brand awareness within the local demographic segment. However, due to the proliferation of the market by new entrants, there is stringent competition for the market share and thus necessitates the bank to introduce digital marketing strategies which is also cost effective and targets both local and international; customers.
7
Situation Analysis
Strengths
Weaknesses
Opportunities
Threats
Relate these back to your strategic objectives
As banking is the driving force of the country’s economy, our strengths rely on the improvement of economic growth. Secondly, the business will be able to diversify its services to a wider market. Weaknesses observed within the firm’s service delivery systems such as ineffective coordination will result in uncertainties. Opportunities include the penetration of new markets and changing demographic factors. Finally the threats would be factors like economic recession and stiffened competition.
8
Position Statement and Branding Strategy
Differentiation
Unique value propositions
Generate consumer loyalty
Resonate with clients
So what’s your positioning statement?
To facilitate differentiation against competitors the brand strategy should align the banks advertising to unique value propositions. The banking system would establish new value curves like increasing revenues and high end investments as a key differentiation strategy. To generate consumer loyalty, it is necessary to communicate effectively and resonate with clients through logos and ads. The key message would be progressive bargain in order to lure the will of our customers and convince them to invest more.
9
Advertising and Public Relations Strategies
Technological advancement
Market strategies evolution
Cost-effectiveness and accessibility
Attract international customers
good
Due to technological advancements, it is a requisite as a financial institution to evolve our marketing strategies to attract a wider market. First, the traditional channels that will be deployed are the newspapers and radio ads due to their ease of accessibility and cost-effectiveness. Other media channels to be incorporated include logs, the use of social media, and websites to attract international clients.
10
Public Relations Piece
Consumer feedback
High standards of respect
Financial partnerships
Satisfactory service delivery
“Welcome to Transparency International where consumer feedback is the key aspect to defining our success. At Transparency International customers are treated with high standards of respect and concern to ascertain effective and sufficient delivery. Transparency International has partnered with other financial institutions to enhance financial exchange and maintain its reputation in the global sphere as well as acknowledge consumer satisfaction as the core purpose of its operations”
11
Public Relations piece Metrics
Key messages
Media exposure
Impact score
Source quality
Sentiment
Good
The metric for analysis will entail sentiment analysis which identifies and categorizes the expressed opinions in a story to determine the writer’s attitude in the story. Source quality will measure the overall number of different consumers who are exposed to the medium over a certain period. Key messages will be drafted to enhance message penetration as a quantitative measure across the all messages conveyed. Media exposure will quantify the magnitude of attention a certain online media, radio, or television give to a particular campaign ad. Finally is the impact score that would take into account the statistics of qualitative standards sufficed and the media source. 2-media source points and 1-qualitative source.
12
Integrated Marketing
Place
Product
Promotion
Price
This is IP5.
But make sure you applying it to your strategy
The marketing mix 4 P’s are place, product, price, and promotion. Under product, Transnational Bank will offer consumer banking securities management, legacy servicing and assets, insurance and finance. Under promotion the firm will invest in subtle advertisements and dishing out bonuses as a means of promotion. Considering place, the bank will establish an extensive grid of ATMs and offices. Finally, with regards to price, the bank has a reasonable and steady interest regime. Having existed for the past 30 years it is anticipated that it would develop a competitive pricing strategy.
13
Conclusion
Financial chain
Increase revenue equity
Facilitate international transactions
Good close
With regards to the strategic plan, Transnational Bank will struggle to make itself a competitive financial chain. The bank will enable new target customers to get access to more loans and thus increase its revenue equity. Apart from financing, the management wishes to penetrate into new markets and create new services that would facilitate transactions for both international and regional customers.
14
References
Berger, B. K., & Meng, J. (Eds.). (2014). Public relations leaders as sensemakers: A global study of leadership in public relations and communication management. Routledge.
Reddi, C. N. (2014). Effective public relations and media strategy. PHI Learning Pvt. Ltd..
Dwivedi, Y. K., Kapoor, K. K., & Chen, H. (2015). Social media marketing and advertising. The Marketing Review, 15(3), 289-309.
Percy, L. (2016). Strategic advertising management. Oxford University Press.
Added by instructor
Element PossibleGradedComments
Clear presentation with graphics and slide
notes as needed; citations
3030Good graphics; references present.
Spelling and grammar; APA 1515Everything was well written
Demonstration of marketing knowledge 4530
You have firm grasp on the course
concepts; the concepts need to be fully
applied to the bank scenario.
Coherent and logical marketing element
alignment for bank scenario
6055
Slides need greater elaboration of the
specific marketing strategy. Positioning
statement needs elaboratin.
150130
