185753_Assessment_1_-_Activity_1_SWOT

ASSESSMENT COVER SHEET

Course Name: Certificate IV in Business

Subject:Introduction to Marketing

Evidence technique: In-class activity by making a SWOT Analysis and answering questions as below

Assessment No: 1 – activity 1 (SWOT analysis)

Weighting: 10%

Due Date:Week 3

Competency Title: BSBMKG414AUndertake marketing activities

BSBMKG413A Promote products and services

Trainer Name: Sue Cameron ()

Description of Assessment

You are required to complete the following Activities

After you have completed your task, upload it to assessment 1 submission link via Moodle

The submission link will be found under Assessment submission links

Ensure to change the file name to your Student No Assessment 1 activity 1. For example, if your student no is 1234, your file name should be 1234_Assessment 1 activity 1.

Plagiarism Statement

An intentional or unintentional Plagiarism is deemed by GCA as cheating and is completely unacceptable under any circumstances. It is required that all assignments be referenced using the Harvard System or other approved method advised by your lecturer.

Any plagiarism will result in a ZERO mark for that assignment. This includes the submission of assignments that are not the student’s own work or does not acknowledge the work of others.

By submitting this assessment in Moodle, you understand and agree to the plagiarism policy of GCA.

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agree to the plagiarism policy of GCA.

Your Assignment must have:

Title page with your name(s) and ID numbers, subject name and who it is addressed to (i.e. the teacher’s name)

Be of a professional standard (spelling, grammar, punctuation)

Size 12, Arial Font

1.5 Spacing

All pages must have a Footer with the following details:

Date

Page numbering

Index page (if longer than 10 pages)

Body of work (this is not a heading)

Referencing

Assessment Task 1 – Activity 1

Analysis and answering three questions (please use a table)

To be no longer than two pages in length or approximately 500 words

 

This case study looks at a hypothetical regional bank. Your task here is to prepare a SWOT for the firm; that is, identify their strengths, weaknesses, opportunities and threats. As a result of this exercise, you should have a much clearer idea of what marketing strategies would best suit them, given their current environment.

 

ACTIVITY/TASK

Beautiful Sunny Valley region, home to just over 10,000,000 people. The Sunny Valley Bank had started several decades ago and had achieved a 20% share of the adult banking market (around 1,500,000 customers). They now had 50 branches throughout the region, which has been a key driver of their success (that is, being very convenient). They also had the advantage of being the ‘local’ bank. They were friendly and truly concerned with helping their customers.

According to their marketing manager, “While our success was initially due to the convenience of our branches, in later years our closeness and “smallness” became a major point of difference over major banks. As a result, many of our new customers came from word of mouth”.

However, they do have their limitations for their customers (which explain why they only have 20% market share). For instance, they have a limited range of products (such as not having a credit card). And in recent years, there’s been a big change in technology. People now access their accounts through ATMs,  phones and the internet – so banking customers don’t necessarily need the convenience of branches, or the service that goes with it (particularly in these time-poor days). Therefore, what was once ‘strength’ (of many branches), may have become a ‘weakness’ (cost of rent and staff).

Adding to this pressure has been the rise in specialist competitors. Today, loan brokers aggressively target the profitable loans business, and firms like American Express, Citibank and Virgin targeting credit cards business, plus places like ING Bank chase low transaction/high balance savings.

As a result, the bank found themselves in a little bit of a strategy ‘mess’ and had decided to ‘reinvent’ themselves to be more competitive in today’s market. Their proposed changes include: (this is their proposal for the Board of Directors)

 More heavy focus (positioning) on being the local bank (‘there for you, as always”)

Introducing customer relationship management (CRM) programs, including appointing “personal bankers”

Creating a ‘selling is helping the customer’ corporate culture

Working their existing customer base harder (getting greater “share of wallet”)

Utilizing local retailers to help gain increase market share

Having a heavier emphasis on electronic/remote channels (such as internet and the call centre), and

Introducing a more competitive range of products – starting with a credit card

 

QUESTIONS (remember to insert a table for your SWOT)

Prepare a…

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