• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

A Comparison of Two Business' Approaches to MarketingPromotional Strategies for a Similar Service, Illustrating the Differing Techniques Used

Extracts from this document...

Introduction

A Comparison of Two Business' Approaches to Marketing Promotional Strategies for a Similar Service, Illustrating the Differing Techniques Used Before I can start comparing marketing and promotional strategies of each business, I need to understand the background of each organisation. The two competitor organisations that, I will be investigating are Barclays Bank and the HSBC Bank. Barclays Bank Barclays is currently the fourth largest retail and business bank in the United Kingdom. It is also one of the top ten largest financial banks in the world. Barclays is one of the oldest banks around because; it has been involved in banking for more than three hundred years ago. In 1896, Barclays became a new leader of a new joint-stock bank, which is named as, 'Quaker Bank'. In those days, Barclays had made a large sum of money and they used it to expand its branch network by, taking over other banks. Between 1905 and 2003, Barclays took over numerous of banks, as well as a former building society ('The Woolwich') and a retail stock broking company (Charles Schwab Europe). In 1925, Barclays merged with the Colonial Bank, the Anglo Egyptian Bank and the National Bank of South Africa, to create Barclays' international operations. Most of Barclays' operations are based in Africa, the Middle East, and the West Indies. Barclays provides a wide range of financial products and services to both personal and business customers. Examples of financial products and services that Barclays Bank provides to its personal customers include the following: Telephone Banking, Online Banking, Branch Banking, Current Accounts, Barclayloan, Insurances (e.g. ...read more.

Middle

The bank advertises their products and services at evening and night time because, at these times family watches the television HSBC Bank use television as source of medium for promoting their products and services. The bank advertises their products and services on SKY, Cable, Freeview, and Terrestrial TV, too. The organisation promotes their products and services between 3pm to 6pm, evening and night because, the bank targets young customers (e.g. students), as well as adults The bank advertises their products and services on Terrestrial radios, and on radio channels on Sky. The organisation promotes their products and services on main radio stations, i.e. BBC R1, BBC R2, BBC R3, BBC R4 FM, and BBC R5 Live. The bank advertises their products and services on other BBC radio stations such as, BBC Asian Network and BBC 7. Barclays advertises their products and services on radio sport stations such as, R5 Live. This is because; the bank sponsors the football premiership The bank promotes their products and services on Terrestrial radios, and on radio channels on Sky. The HSBC Bank advertises their products and services on main radio stations, too. The bank advertises their products and services on other BBC radio stations, too Barclays Bank advertises their products and services on local, regional, and national newspapers. The bank advertises their products and services on both tabloid newspapers (e.g. Evening Mail, Daily Mail) and broadsheet newspapers (e.g. The Times, the Financial Times). The bank also advertises their products and services on free of charge newspapers such as, The Metro HSBC Bank advertises their products and services on local, regional and national newspapers, too. ...read more.

Conclusion

The disadvantages of advertising at cinema are: fleeting message; high production costs; and difficult to establish audience profile. Point-of-sale The advantages of using point-of-sale materials as an advertising media are: relatively cheap; good method of reinforcing the advertising message; and can act as an incentive for traders to stock product. The main disadvantage of using point-of-sale materials as an advertising media is, it only reaches those customers already likely to buy. Outdoor advertising The advantages of outdoor advertising are: high impact with colour and size variations; relatively cheap; long life span; high coverage of selected area; and good in reminder advertising. The disadvantages of outdoor advertising are: short exposure time; limited message; unsuitable for unknown or complicated products; requires large scale distribution; and defacement (e.g. weather, vandals). Posters The advantages of using posters as an advertising media are: high impact with colour and size variations; relatively cheap; long life span; high coverage of selected area; and good in reminder advertising. The disadvantages of using posters and billboards as an advertising media are: short exposure time; limited message; unsuitable for unknown or complicated products; requires large scale distribution; and defacement (e.g. weather, vandals). Sales Promotion The advantages of sales promotions are: flexible timing; ability to get quick feedback; efficiency; and can encourage quick increases in sales by targeting promotional incentives on particular products. The disadvantages of sales promotions are: many sales promotions only provide short-term benefits; ineffective in building long-term loyalty for the destination; often misused by tourism and hospitality organisations (e.g. coupons); and too much promotion may damage the brand image. ?? ?? ?? ?? Unit 7: Marketing and Promotional Strategy E1/C1 Created by Baljinder Duhra - 8 - Unit 7: Marketing and Promotional Strategy E1 & C1 Created by Baljinder Duhra - 15 - ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our AS and A Level ICT in Business section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related AS and A Level ICT in Business essays

  1. For my business report I am investigating the Co-op erative society supermarket.

    it can also be used to recruit staff * recruit suppliers and contractors - this also helps to position the business as active and expanding Advertising is done by Co-op through the various mediums identified in the chart above. Here are some of the promotions that Co-op is running this Christmas season 2.

  2. The business I am going to set up is a snooker club,

    - � = Financial efficiency: Asset turnover: � = 4.6 � -� Stock turnover: � x � = � Debtor collection Days � x � = � Gearing � x 100 = � Profitability: Net profit margin: � = � Gross profit margin: � = � Return on Capital Employed:

  1. There are many ways in which business can be organized

    Under the task culture, organizational structure will be matrix organization structure and the style will be democratic. Under person culture, the organization structure will be centralized and the style will be autocratic. As the Sainsbury is a multinational company dealing with different segments and diversified products network it is following role and task culture.

  2. In this coursework I need to produce a detailed business report on one medium-sized ...

    Many companies now recognise the importance of providing a communication channel which allows customers easy access to the company. Some companies advertise a customer care telephone number or an E-mail address on their packaging or promotional literature. The customer care section will be stuffed by people trained in the kinds of communications skills needed to deal with customers making complains.

  1. Starting a new business - marketing

    - What does the Advertising standards authority do? - How will the ASA Code of practice affect how you advertise your business? - Is there any other legislation (laws) that you need to be aware of? In Thursday 1st April lesson 'Huggett' GCSE business studies textbooks AS Business studies textbooks, Marketing books.

  2. business plan and organise event

    I will create a timetable which will show all the games which are going to be played and when they will be playing and at what time so that it is not to congested in the room that the tournament is taking place.

  1. Customer Service Assingnment

    In this case the customer service is central to the sainsbury companies competitive strategy. COST PLUS Cost plus means paid on the basis of a fixed fee or a percentage added to actual cost the customer is charged the cost of the service plus on acceptable margins.

  2. I am going to create a 4-page leaflet for Oxfam. I'm going to produce ...

    this is what I did: Leaflet 2: I think my second leaflet is better than the first because I broke up the text a bit more to make it look more appealing and to make it easier to read.

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work