29 Jun Westpac Banking Corporation and its retail deposit products
Question
Westpac Banking Corporation and its retail deposit products (i.e. term deposit and cash accounts) given the competition for retail deposits by the banks post the Global Financial Crisis to fund there lending businesses. Textbook for the subject is Kotler, P, Keller, KL, Ang, SH, Leong, SM & Tan, CT ****, Marketing management: an Asian perspective, 6th edn, Pearson Education South Asia Pte Ltd, Singapore; (ISBN: *************) and the assignment is:
Prepare a report about one product or service containing information that could be used for a marketing plan.
You can choose a product/service from your own business or from another business with which you are familiar.
In your report you must include information about:
– The current marketing situation with background data on the market segments, product, competition, and distribution. Keep this discussion brief.
– Market analysis using a SWOT analysis. Make sure to discuss the SWOT analysis adequately.
– Objectives with goals for sales volume, market share and profit. These goals should be realistic but may have to be somewhat hypothetical because of the lack of time and absence of market research to provide better ones.
– Marketing strategies with details of the 4Ps (i.e. Product, Place, Price, Promotion):
– Make sure you explain why the strategies are relevant and how they relate to the market analysis, objectives and goals above. Clearly justify your argument.
– In your discussion of Promotion, you need to identify the communication objectives, discuss and justify the communication channels and the communication mix you would use to address these objective.
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