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Change of Focus For Your Financial Organisation From Transactional to Relationship Marketing - Essay Example
Pages 6 (1506 words)
Utilising market research to develop segmentation, targeting and positioning strategies for HSBC Australia BY YOU YOUR SCHOOL INFO HERE DATE HERE Utilising market research to develop segmentation, targeting and positioning strategies for HSBC Australia I. Purpose HSBC Australia is currently struggling to identify new customers in the geographic region of Australia for Financial Services…
II. Background “Today’s financial services customers is a ‘Butterfly Customer’, sceptical, and not loyal to any product or company, and yours only until the next good thing comes along” (O’Dell & Pajunen, 2008, p.24). Because of this, HSBC requires a sound methodology for conducting market research to ensure more customer volume increases. HSBC Australia conducts routine customer-related surveys to gain quantitative information about the brand in the eyes of customers, willingness to recommend HSBC over other target competition, and a variety of customer service feedback systems. Refer to Appendix A for a chart of survey results associated with intent to recommend HSBC from the company’s 2010 annual report which highlights the very low level of word-of-mouth HSBC can rely on based on this quantitative information. Financial services at HSBC include personalized planning from HSBC financial planners in areas of superannuation, retirement planning, wealth creation, borrowing for investment purposes, and personal insurance policies (hsbc.com.au, 2011). ...
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