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Managing the Environment (MEWK3 DQ1) - Essay Example

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HSBC has created a brand which it has greatly marketed to its clients in a very personal way - personalize marketing is the way to go. Kotler and Keller said that "Marketers are abandoning the mass-market practices that built brand powerhouses in the 1950s, 1960s, and 1970s for new approaches that are in fact a throwback to marketing practices a century ago, when merchants literally knew their customers by name" (2008, p…
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Managing the Environment (MEWK3 DQ1)
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Download file to see previous pages In other words, the bank had successfully created a holistic marketing strategy and was able to follow through.
As it is building "the world's local bank" brand, the bank is very vulnerable to making that brand work. Hence, it must focus on acquiring local knowledge in each area it operates in, and put that local knowledge to customizing the bank's marketing activities to the locality's preferences and characteristics.
Another vulnerability is that competitor banks might leverage on their being 'local' in designing marketing activities and compete head on with the bank's "the world's local bank" strategy. This will surely questions the integrity of such campaign - say, hw can HSBC be that area's local bank wherein the competitor bank is truly local in every sense
Going forward and aligned with the company's "the world's local bank" image, a more decentralized structure with regard its marketing department should be adopted. This way the branch is given the authority to design and implement its marketing plans. ...Download file to see next pagesRead More
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