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Marketing Essential - Assignment Example

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Marketing Plan for the Kenya Commercial Bank Course Number: Date Due: Financial Summary A close analysis on the figures of the local commercial banks in the year 2001 showed that Kenya Commercial bank still leads in the assets, loans giving and the deposits in many parts of the world…
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Download file to see previous pages The return on assets of the bank was only 0.65% as compared to the average industry return approximated to be only 0. 81%. According to research, this low performance was due to the low interest from the public sector, that gives about 48% of the deposits and 28% of the loans (Thomas 2001). The country's government, in its proposed housing report has given a directive to the Bank to give 100% mortgage finances to its civil servants for three years (Roger 2000). The strategic plan of the Bank for the period starting 2001 to 2004 does not however include this directive from the government, as the competition for the deposits is still high . This situation therefore is a clear indication that the Bank has a great task to manage and give funding for this kind of loan deposits if it's to work with the guidelines of the Central Bank. The government, however, has given the Bank an opportunity to increase its market share as the deal would generate more money. Therefore, there need to raise the required money through deposits, while giving the Bank a greater market share in the local industry and increase the profits for the bank in the coming three years. This has been analyzed by looking at both the internal and external factors. The external factors has taken a look at the “macro-environment” , and the rivals in the market, while the internal factors was the analysis of the performance of the Bank, its management, infrastructure, the mission statement and its market coverage. There was the “SWOT” analysis that was aimed at identifying the Bank's strengths, weakness, opportunities and the threats. The analysis gives the Bank an indication that their need to change the strategies the bank used that and to give the market coverage the importance. This does not show that the Bank should ignore its existing market such as giving service to the public sector but refocusing the already being used mission. This would help the bank to achieve her stated objectives over time. Introduction The directive by the government to the Bank to give mortgaging, financing to the public servants puts the bank in a hard situation to get the deposits required to finance these servants. The mortgages will have a repayment period of 15 years with the interest rates based on 7. 5 per annum. The mortgage amount the Bank is expected to raise for the civil servants is $ 65 million and according to a research the new mortgage plan is to amount to $10 million in the first year, $18 million in the second year, and $37 million in the third year. This marketing plan for the Bank is intended to enable it raise the required funds for the directive, while to secure a strong position in the market industry and get higher profits for the 3 year period and the future plan (Carl 2000). In order to achieve this objective, the Bank had to deal with the issue of retaining the existing customers, come up with new customers, raise the $65 million to fund the civil servants over the next three years, increase her market share, maintain loans to deposit ratio to be in line with central bank's guidelines (appendix A), and to increase the company profits (Mintel 2001). Analysis of the Company Situation Competition In the country, there are four other related banks that offer similar services as the Kenya Commercial Bank. The banks include, the Barclays bank, the Standard Chartered bank, the Equity Bank, and K-Rep bank. These banks have all been successful in their ...Download file to see next pagesRead More
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