I am going to describe the marketing techniques used to market products in Barclays Plc and in Diabetes UK as well as their main activities. (1a)BARCLAYS PLC
Sector by activity
Barclays is a global profit making service provider that offers retail and commercial banking,corporate and investment banking,credit cards,wealth and investment management to over 50 countries worldwide. (1b) DIABETES UK
Sector by activity
Diabetes UK is the largest charity organisation in the UK that provides products and services such as retirement,life,travel,motor and home insurances as well as care events,financial services,practical information and safety-net services for people with diabetes,their family,carers and friends to help manage their diabetes better. (2)MARKETING TECHNIQUES
Ansoff growth matrix
Ansoff growth matrix is a useful marketing tool that helps businesses deceide their product range and market growth strategy and it determines whether or not the business sells new or existing products to new or existing customers. The four main growth strategies are: market penetration is where the company increases its sales of existing products or services such as current accounts, loans etc to more customers in the market. market development is where the company grows in its total market by selling its existing products and services to new targeted customers. product development is where the company creates a product with new or different features or functions that offers new or additional benefits to existing customers. diversification is where the company sells a totally new product or service to new customers in other parts of the world. The diagram below indicates the following.
These are strategies that a business put together in order to overcome financial crisis or to prevent the business from going bankrupt or collapsing. Branding
Branding is a process involved in creating a unique name and image which can also be a slogan, symbol, sound or even a word that is broadcasted through several media channels such as tv commercials, radio stations, newspapers etc and enables the customers to recognise the maker or seller of a product and differenciates them from other brands that offer similar services. Relationship marketing
Relationship marketing is a long term strategy that companies, organisations, businesses etc use to build a friendly environmental relationship with individual customers by offering them loyalty cards, informing them about similar or new products and services ,bonuses and other promotions in order to fulfil their needs and maintain their friendship and to help boost the company’s income. (3)HOW MARKETING TECHNIQUES ARE USED IN BARCLAYS AND BARCLAYCARD (3a) GROWTH STRATEGY
Barclaycard is the UK's first credit card and also the leader in card and payment services provided over the internet and 800,000 customers using the online account services. Barclaycard now operates internationally throughout Europe, the United States and Africa and has recently made efforts to expand even more into the United States after buying out or taking over the US credit card, Juniper Financial Corporation in December 2004. Product development
Barclaycard has partnered with orange to bring contactless mobile payment to market. This enables it’s customers to pay for everyday items from £15 and below just by tapping their mobile phones wherever contactless payment symbols are provided and it builds on existing contactless payment technology with 12.9million credit and debit cards already in circulation of which 11.4million have been issued by...
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