HSBC Bank Marketing Strategy – Marketing Strategy of HSBC Bank: HSBC Bank has 150 years of experience in meeting the financial needs of customers. It is now a global Fortune 500 company that serves around 47 million customers across more than 70 countries.
HSBC Bank employs 255000 people who are committed and loyal in a service industry like banking.
HSBC Bank At A Glance – Marketing Strategy of HSBC Bank
Company: The Hongkong and Shanghai Banking Corporation Limited
CEO: Noel Quinn
Founder: Thomas Sutherland
Year founded: 3 March 1865, Hong Kong
Headquarters: London, United Kingdom
Annual Revenue: US$1.11 billion
Profit | Net income: US$265 million
Number of employees : 219,697
Products & Services: Savings Account | Current Account | Home Loan | Personal Loan | Credit Card | Debit Card | Balance Enquiry | Mobile Banking | Net Banking
HSBC Bank Competitors
Competitors: Citi Group | Standard Chartered Bank | American Express | Deutsche Bank | Deutschen Bank | National Australia Bank | China Construction Bank Corporation | Bank of America
HSBC Bank Fun Facts: In 2013, HSBC donated $117 million to community investment programmes around the world. In 2013, HSBC employees volunteered 255,925 hours during work time.
Marketing Strategy of HSBC Bank
HSBC Bank’s Marketing Strategy covers various aspects of the business right from segmentation and targeting to the overall mission and vision of the company and the various parameters which the company executes to become the top brand that it has in the market. So what is the Marketing Strategy of HSBC Bank? Let us discuss.
Segmentation, Targeting, Positioning – HSBC Bank Marketing Strategy
HSBC, a global bank, uses a combination of geographic and demographic segmentation strategies to make its products and services available to individual and corporate customers.
Differentiation strategies are the methods used by HSBC Bank to meet the savings and investment needs of its customers.
HSBC uses a value-based positioning strategy to bridge different segments of customers all over the globe.
HSBC Bank Mission Statement
“To enable customers, businesses, and economies to prosper, helping people to fulfill their dreams & ambitions”
HSBC Bank Vision Statement
“To be the International Bank”
HSBC Bank Tagline
“World’s Local Bank”.
Competitive Advantage – Marketing Strategy of HSBC Bank
Employees are the most valuable asset of any service-based company. HSBC Bank has more than 2,55, 000 employees who work in improving the Bank’s capabilities.
It has helped consolidate its operations and made it easier to offer its products and services through its network of branches around the globe. The company has been able to stay ahead of its peers by implementing the Go Global, Act Local strategy.
The Bank has access to 90% of the GDP and Capital flows in the world. It is also connected to developed countries & markets.
BCG Matrix – HSBC Bank Marketing Strategy
The business segment of HSBC Bank is broadly split into Wealth Management, Private Banking, Wealth Management, and Global Banking & Markets.
It is Private Banking, Retail Banking, and Wealth Management that are the stars of the BCG matrix.
HSBC’s global banking & business vertical and commercial banking is in doubt due to the presence of a large number of national and MNC banks as well as NBFCs. HSBC is currently struggling in this sector.
Distribution Strategy – Marketing Strategy of HSBC Bank
HSBC has over 4700 branches around the world, which allows them to provide touchpoints for their customers. HSBC bank discourages customers from visiting branches in this age of advanced information technology. They make their services and financial transactions accessible online to customers so they can access them even if they are not physically present.
Brand equity – HSBC Bank Marketing Strategy
The company has had the pleasure of working with top fortune 500 companies to increase its visibility and word-of-mouth.
Fortune ranked HSBC 81 in 2015
Competitive Analysis – HSBC Bank Marketing Strategy
The financial industry is tightly regulated. Due to the economic fluctuations, and rapid change in the landscape of the banking sector, companies find it difficult to differentiate themselves.
Market Analysis – Marketing Strategy of HSBC Bank
It is difficult to sustain in the financial markets due to the competition from MNC and national players. The industry’s success is dependent on the market forces, such as customers and the central banks of the respective countries.
Customer Analysis – HSBC Bank Marketing Strategy
HSBC customers come from the upper-middle-income group for individual customers. Corporate customers are those who are interested in financial services such as wealth management and investment advisory.
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