Service organization analysis services marketing plan on a service company - Essay Example

The bank is one of the largest in the country and has presence in more than 50 countries. The department chosen in this case is the bank's internet banking services. The bank has a well established department for this and gives comprehensive information in its web pages. The characteristics of services marketing with reference to this department is given in the paper. Relevant marketing theories with reference to services marketing is also given. An overview of the internet banking service of the bank is also given.

This is followed by the internet banking industry in the country. Major competitors of the bank are also provided. The internet usage and habits of the public are also included. The bank is in a good position regarding this since the usage and penetration of the internet is one of the highest in the world. The bank's biggest challenge would be to convert the users to be more active in internet banking. One important aspect, namely service recovery is also discussed. It seems that ANZ Bank is keenly aware of this factor and has chalked out well laid out plans for customer service and satisfaction.

The organization selected for the service market analysis is ANZ Bank. ANZ bank (Australia and New Zealand Banking Group Limited) is an Australia based major banking and financial institution. It renders services of home loans, car loans and business loans to its customers. Internet banking and phone banking is its peculiar features. Credit cards and savings accounts are also offered by it to the customers. It carried out insurance services also. Main strategy of ANZ Bank is offering a range of products suiting with different needs of customers in a better convenient way.

Savings and investment accounts of ANZ carry competitive interest rates. ANZ online saver helps customers to manage their own accounts through online.(ANZ, 2008).ANZ bank is recognized as a major international banking and financial services group in Australia and New Zealand and included in the 50 list of top 50 banks in the world. It started its working in 1830s by opening office in Melbourne. (ANZ: History, 2008). Business Strategies of ANZ Bank: For sustaining in the highly competitive banking industry in Australia, the ANZ Bank has accepted good corporate governance and transparency as the fundamentals of its business.

For guiding the business decision making on the right way the bank has insisted on specific codes of conduct ensuring company value. The Board of Directors is mutually responsible for the corporate governance and directing the financial performance. It has company policy of concrete honest and ethical behavior of the organizational members. ANZ is a member of the Code of Banking Practice, which specify standards of good banking practice. (ANZ: Corporate Governance).Characteristics of service marketing:Marketing can be of products, services or both.

In the case of services, there are some characteristics that make it different from product marketing. They are referred to as the IHIP characteristics namely intangibility, heterogeneity, inseparability and perishability. (Lovelock, 2004, p.3). Services are intangible and unlike a product, a person cannot see or touch them. Heterogeneity means that the same service given to different customers will different from each other. The service experience of customers on a particular service will be