Marketing Essay

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2012

THE AUSTRALIAN NATIONAL UNIVERSITY

CURTIN AND JERRABOMBERRA COMMUNITY® BANKS

MKTG2004 | Joanna Chan U4709491 and Ankita Sen U4720342
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DISCLAIMER
The authors of this content whose views can be found within this marketing plan assure you, the reader that any of the opinions expressed herein are our own and are the result of the research conducted. This report is our interpretation of the market position of Bendigo Bank and the Bendigo Community Bank branches in the Curtin and Jerrabomberra region. We would like to convey to you (the reader) that it is completely unintentional if we were to defame or damage the brand through the content contained within this report, and therefore cannot be held responsible. We recommend that professional advice be sought before implementing any aspect of the plan. 25th May 2012

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EXECUTIVE SUMMARY
This marketing plan was commissioned by Mr. Andrew Hughes on behalf of Bendigo Bank, to create awareness for new community branches in Curtin and Jerrabomberra. This plan is structured with an aim to help create awareness as well as acquire new customers and encourage bank switching. Bendigo Bank differentiates itself from its competitors by working on the communitybanking model. Every year, 80% of profits are returned to the community in the form of various projects and donations. Bendigo Bank places a strong emphasis on maintaining relationships with the community it serves and has ranked consistently well in terms of customer service and friendliness of staff. This marketing plans aims to meet the goals established above, without compromising Bendigo Bank’s brand image and values. After careful analysis of market conditions and competitors, as well as keeping in mind the specific targeted market of Bendigo Bank, it is recommended that:    Together with print advertising, cinema advertising in Hoyts, Woden should be carried out as it is most likely to be patronised by customers living near the new branches Direct mail-outs should be sent out on a quarterly basis to all households near the Curtin and Jerrabomberra branches. A competition should be run on Facebook which will help promote the Bendigo Bank Facebook page thereby creating awareness as well. Prize money should be offered to the contestant who gets the most number of “likes” for a photograph depicting what community means to them. This will be an incentive for more participants. A similar competition should be run in Jerrabomberra Public School and Curtin Primary School where students are asked to write a short paragraph or draw a picture depicting what community means to them. A regular program should also be run in these schools to encourage the students to bank with Bendigo Bank. This will help acquire new customers and the students are likely to be with Bendigo for a long time. As part of Bendigo Bank’s community contributions, they should sponsor North Curtin Pre-school’s Fundraising Event, which raises funds for the school. To further increase their presence, Bendigo Bank should sponsor the Royal Canberra Show which always attracts a large proportion of the community



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With correct implementation of the recommendations, the marketing plan should be successful in achieving its goals for the new Curtin and Jerrabomberra Community Bank branches. The authors of this marketing plan can be reached at: Ankita Sen Joanna Chan Email: u4720342@anu.edu.au Mobile: +61 401 291 505 [Type text]

Email: u4709491@anu.edu.au Mobile: +61 423 266 791
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TABLE OF CONTENTS
Disclaimer .................................................................................................................................................................................. 2 Executive summary ................................................................................................................................................................ 3 1. Introduction...
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