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

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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.

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