Marketing Mix of Common Wealth Bank

2300 WordsApr 23, 201910 Pages
Executive Summary Marketing Mix of Common Wealth Bank in the time of global financial crisis . Analysis of bank marketing mix in the time of GFC is the main objective of the study. The Theoretical framework presents a glimse of selected theories of marketing and crisis management used. To get empirical data, interview and secondary data research are used. Introduction The global financial crisis has its origin in the US, but its effect was seen all over the world. In fact in last eight decades, it and was the largest economic financial crisis .Thereafter it showed some serious problems which had to be looked after. That’s the only reason faith and trust is always on trustworthy banks which has lot of reputation .But somewhere in the…show more content…
On the other side market competition is another problem: to win back the trust of the consumers. Banks have to take fast steps to vanish away the negative impact of the crisis on consumer perceptions of the bank. Although according to many authors, marketing is the only key left in overcoming the bad impact of the financial crisis. But still there is no pre define ways about how to make the marketing in this difficult time. Some believes that companies should remain away from making big changes in the marketing mix A crisis consists of different steps and stages. Therefore it could be assumed that with the changing environment the marketing mix must be changeable with time. However there is also another way that marketers should opt a universal marketing strategy that can be helpful in various times and situations. That’s why, it is interesting to know and examine the nature of marketing mix that appeared at different stages of a crisis in order to learn if, how and why the marketing is changing. Research questions RQ1: How have Common Wealth Banks used the marketing mix to overcome the negative impact of the latest worldwide financial crisis? 2. Marketing mix This set of tools and terms are frequently used as the 4 ‘P’s: product, price, promotion and place. The marketing mix helps the companies to increase the demand for its produce. Most banks are providing same products to
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