Citibank Marketing Strategy

The SWOT analysis is commonly known as a tool for business analysis. Its main use is for looking at strengths and weaknesses to do with the organisation, current or future opportunities and possible internal and external threats. These can then be dealt with to make them into a positive.

These advantages led the smaller businesses to concentrate on convenience locations, better customer service, reduction of banking fees, waiving of ATM fees and the ability to cross-sell extra products and services. According to the research, in 2009 the consumers chose their banks based on traditional criteria, such as low account minimums, competitive rates, and convenient locations. (Case, pg. 2)

SWOT analysis helps a marketer or decision maker to evaluate thoroughly the difficulties/challenges involved in the project and helps in taking a decision to change in strategy.

In the world of banking and finance nothing stands still. The biggest change of all is in the, scope of the business of banking. Banking in its traditional from is concerned with the acceptance of deposits from the customers, the lending of surplus of deposited money to suitable customers who wish to borrow and transmission of funds. Apart from traditional business, banks now a days provide a wide range of services to satisfy the financial and non financial needs of all types of customers from the smallest account holder to the largest company and in some cases of non customers. The range of services offered differs from bank to bank depending mainly on the type and size of the bank.

SWOT analysis is a method used for evaluating and analyzing any business and its current environment so as to identify the most beneficial goals. By using SWOT analysis it is possible to together information regarding HMVs position, resources and capabilities.

SWOT analysis provides a structure for analyzing either your own strengths and weaknesses, and the opportunities and threats you face, or in a work context for analyzing the strengths, weaknesses, opportunities and threats a business or event faces. Ideally it is one step in a process which helps you to

A SWOT analysis assesses the internal and external environment your product will be operating in. To perform your SWOT analysis, discuss two strengths, two weaknesses, two opportunities and two threats. Remember strengths and weaknesses are internal to your business usually having something to do with you and or your employees. Opportunities and threats are external, usually having something to do with competition,

What is a Strength, Weakness, Opportunity, and Threat (SWOT) Analysis? It is very simple actually and something several business use in order to evaluate their success.

It has been argued that the UK banking system is an oligopoly ( http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/8266582/Big-banks-running-an-oligopoly-says-Virgin-Money-chief.html# ) .

A. SWOT analysis is used by a company to appraise its internal strengths and weaknesses as well as examine any external threats from potential competitors, and to research current and potential customers in a chosen demographic market. Businesses must utilize SWOT analyses to form a foundation upon which to build their marketing programs.

NPO leaders and boards of directors must understand the internal and external forces that influence success. One standard tool for understanding and positioning the organization for overall improvement is the Strengths, Weaknesses, Opportunities and Threats (SWOT) analysis. (NCU, 2016) According to Weese (2009), a SWOT analysis is an honest evaluation of the strengths, weaknesses, opportunities, and threats inherent in a given situation (Weese, 2009, p. 265). It involves specify the object of the project and identify the internal and external factors.

A SWOT analysis is an evaluation a company’s strengths, weaknesses, opportunities, and threats (Armstrong, 2010, p.77). A SWOT analysis is a useful tool in comparing a business, or in this case a character’s, traits to the situation and to other characters.

SWOT analysis is useful for anyone want to start a business. We can use SWOT analysis in new market opportunities, potential strategic partner or potential new hire. In SWOT analysis there have four factors such as strengths, weaknesses, opportunities, threats. We are going analyze how SWOT analyses are useful for every company.

Passenger service – as being a one of the most preferred European air carrier with global network coverage, Turkish airlines’ first focus is quality service to its passengers before the can during the flight. Passengers can buy tickets, check in, make reservation, examine flight timetable, read arrives – departures information, make the transaction of miles and smiles etc.

If the banks strategy was cost cutting instead of supporting customer service the banks whole strategy would be very different. The bank would try to cut cost everywhere such as the tellers in the drive through lanes may be replaced with automatic machines. Customers would be encouraged to use banking on line as again the bank could reduce the number of workers which would cut the staffing costs. When competing on cost organisations my invest in automation to reduce unit costs, use lower skill labour and limit product range and offer little customisation. (Class Notes – Chapter 2, Operations Management)