Power point 10-12 slides please complete 300 speaker notes per slide

Branding and Positioning Strategy

MKTG320-1404A-01

Quesadra D.Goodrum

Individual Project Phase 3

Colorado Technical University

Instructor: Heather Weller

10/26/2014

National Bank Brand Statement

To… All Borrowers, high and low end savings accounts, and Investors.

National Bank… is the top company in the Commercial Banks industry. That…specializes in financial services including banking, investments and insurance so that you are financially protected.

This is because…

-We have low interest rates of up to 0.5% charged on loans.

-Both low and high income earners can open accounts at will

-One opens a fixed account and starts earning interests on a quarterly basis.

-Our annual bonds earn you up to 30% interest.

-We offer the lowest insurance premium rates of $10 per month in the industry.

-Our customer care desk works 24 hours a day to give you any assistance.

-Online money transaction.

Marketing and Public Relations Strategies

After identifying that the target group consists of mainly three segments that is borrowers, high and low account savers and commercial investors, National bank will focus its marketing both on the online platform and the traditional method. This will ensure that audience in social sites and internet in general also get a link to view the bank’s information. Traditional methods of advertising will ensure that most of the clients are reached like in the event of street promotions.

The target market requires traditional method for it to achieve best. The reason for choosing this strategy is because it is mainly geared towards the locals and banks are being used by its local more and hence street marketing promotions will be very effective. Here, there’s a high level of interacting with the clients than in online platform. This will ensure that there’s quick flow of information from the bank to clients as a result of instant feedbacks. This will be very valuable when testing a new service in the market because the bank is able to get a real-time feedback and know on how to make the relevant adjustments to suit the needs of its target market. It should be noted with great concern that the use of bank services is not only limited to the elite, who have internet skills, in the society but also is for those who are illiterate and would wish to save their cash, take loans or invest. Through street marketing, both the literate and illiterate people will be reached.

On the online platform, the bank will establish its own website so that all information, news and procedures are well explained online. The bank will also create its own pages on social sites like twitter and Facebook so that the online audience gets fast information and more interaction with the help desk. A development in the mobile banking system will also see the attraction of more customers into the bank. Moreover, a mobile app will be a center of the attraction where every client can access all services using the app. All these strategies will ensure that there’s good communication and relations with the public. Due to the fact that the bank will be targeting people with formal jobs to open accounts with them as well as those in the informal employment sector, its marketing public relations efforts will be adjusted to suit the needs of the new target market.

The bank will be targeting to brand itself as a local bank that understands the needs of the customers. For instance, messages targeting the informal sector will require the bank to use characters in the informal sector so that its advertising messages remain relevant. Furthermore, the bank will check on the choice and use of words and language in advertising. Excess formal messages and words will be avoided if the audience is that of informal sector because more formality will push the customers away. In addition, the bank will use public figures in the marketing campaigns. These public figures will be those people that the population can identify with in terms of financial situations like the renowned businessmen.

Most people if not all, that are in formal employment, earn a regular income and are more likely to be literate about the existence of different banking facilities. As such, National bank will be able to highlight the benefits it has to offer as compared to other banks. These includes the interest rate of 0.5% probably the lowest ever in the banking market history. The clients or rather the employees with formal employment will use their basic bank accounts to receive their salaries. The bank will therefore be able to offer them Automated Teller Services in as many places as possible to foster convenience. Further, the withdrawal charges will be lower than those exercised by other competitors. Provision of value adding facilities such as salary advance services in case of emergencies will be of more attraction to the target market.

The bank also understands that people with informal employment will rather need detailed messages so that they understand the value they will be getting from National bank. The messages will be sent through channels with a personal touch. For instance, the bank will send out their sales representatives to areas with a high population of people in informal employment. Sales representatives will be at hand to explain to potential customers the benefits and any other queries that they may have so that they get one on one replies or feedback. The bank will also focus on civic education among customers to convince them about the need to be covered in the financial sector of the country. The mass media channels such as television and radio advertising will also remain to be the crucial channels of communicating to a larger audience. In addition, the bank will have print messages sent out using brochures that sales representatives will carry around while on sales promotion.

In conclusion, National bank will focus its marketing both on the online platform and the traditional method. This will ensure that audience in social sites and internet in general also get a link to view the bank’s information. Traditional methods of advertising will ensure that most of the clients are reached like in the event of street promotions. However, the target market requires traditional method for it to achieve best because it is mainly geared towards the locals and banks are being used by its local more and hence street marketing promotions will be very effective. Here, there’s a high level of interacting with the clients than in online platform. The bank will also focus on civic education among customers to convince them about the need to be covered in the financial sector of the country. The mass media channels such as television and radio advertising will also remain to be the crucial channels of communicating to a larger audience. Internet marketing and relations will rather be on the social sites like Facebook and Twitter.

References

Balmer, J. M. (2013). Contemporary perspectives on corporate marketing: Contemplating corporate branding, marketing and communications in the twenty-first century.

How to write a winning Brand Positioning Statement | beloved brands. (n.d.). Retrieved from http://beloved-brands.com/2012/05/06/brand-positioning-statement/

Marketing Your Products/Services and Promoting Your Organization. (n.d.). Retrieved from http://managementhelp.org/freebusinesstraining/marketing.htm

Ryan, D., & Jones, C. (2009). Understanding digital marketing: Marketing strategies for engaging the digital generation. London: Kogan Page.