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)
Due Date:Week 3
Competency Title: BSBMKG414AUndertake marketing activities
BSBMKG413A Promote products and services
Trainer Name: Sue Cameron ()
Description of Assessment
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.......
Your Assignment must have:
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.
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)
QUESTIONS (remember to insert a table for your SWOT)
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