The revenue of the bank is generated more than 90% from the Middle East, Africa and Asia whereas the bank is United Kingdome based. (About, Standard Chartered Bank) The primary nomination of the Standard Chartered Bank was listed in London Stock Exchange and appears in the FTSE 100 Indexes. Till the 23rd December, 2011, the market capitalization of the Standard Chartered Bank was ?33 billion. This capitalization was entitled to the 13th Largest Primary Listing among all the listed companies in London Stock Exchange. (FTSE All-Share Index Ranking, 2012) The secondary listing of the Standard Chartered Bank was processed in Hong Kong Stock Exchange and then National Stock Exchange (India). The major stock holder of the firm was owned by the Government of Singapore, owned Temasek Holdings. Background The Standard Chartered Bank named after the merger of two original separate banks which was working before this merger with the name of The Standard Bank, based on British South Africa and used to be located at The Chartered Bank of India, Australia and China as well. The Bank titled Standard Chartered Bank was founded in 1969 after merger of two independent banks. (History, Standard Chartered Bank) History of Standard Bank: The Standard Bank was established in Province of South Africa, Cape in 1862. It was the British bank founded by the Scotsman, John Peterson. The Standard Bank was the identical in financing on development of the Diamond Fields at Kimberley on 1867. The network from north to new town at Johannesburg was extended after the discovery of gold in 1885. (History, Standard Chartered Bank) History of Chartered Bank: The Chartered Bank was founded in 1853 by the Scotsman James Wilson by following the grant of Royal Charter through Queen Victoria. This charter was initiated the very first branch from Mumbai, Shanghai and Kolkata in 1858, subsequently, from the Hong Kong and Singapore after one year. The Chartered Bank start issuing the currency notes of Hong Kong Dollars in 1862 with launching of Suez Canal in 1869 and extended the operations towards China. (History, Standard Chartered Bank) Results of Strategies in shape of Awards Achievement The Standard Chartered Bank achieves many awards every year, which is the market recognition in every region of available market. Winning of the awards is the recognition of ideal and streamlined strategies accomplishment. The designing of the strategies was based on the prior research and development of the each region where the branches of the Standard Chartered exists. In the course of research, the management knows the market trend, requirement of the consumers as well as of the corporate and institutional sector. Furthermore, it relies on the market segmentation and providing the easily availability of the innovative financial products which covered the wide range of customers. The employees of the Standard Chartered Bank are well qualified and experts in industry and well diversified employees. The proper training and development provides to each employee after detailed observation and analysis. There is most influential and diversified environment for workers who face the new challenges every day with new dynamic. The strategy planned by the management of the Standard Chartered Bank for the each origin of the focused market separately by considering the culture, religion, language and norms of the
MARKETING COMMUNICATION STRATEGY OF STANDARD CHARTERED BANK [School Name] Assignment # May 31, 2015 [Instructor Name] MARKETING COMMUNICATION STRATEGY OF STANDARD CHARTERED BANK Standard Chartered Bank Standard Chartered is the bank providing the services of British Multinational Banking and Financial Services having head quarter in London, United Kingdom…
On August 6th 2012, the New York Department of Financial Services (DFS) accused Standard Chartered Bank of hiding $250 billion in transactions relating to Iran (BBC News, 2012a). Iran had been under sanctions for the past decade by Standard Chartered Bank supported Iran to go around the sanctions, sell its oil on the international market and receive funds for their sales.
It is worth to note that the multinational corporations have geographically dispersed value creation sites, distribution and sales points and this presents a challenging scene in which the cross-culture aspect of the global market must be captured. A lot of research has therefore been in progress to develop the best marketing communication strategy that will capture the cultural differences across various countries or regions that share the same product (Bjerregaard, Lauring, Klitmoller, 2009, pp.56).
ZOPA has been providing a lending and borrowing medium to people at cost-effective and competitive rates unlike banks that charge better rates to borrowers at their own terms and conditions. Before attempting a marketing communications strategy on Zopa UK, a situation analysis needs to be performed.
Foreign bank wanting to operate in India needs to follow several regulations and norms that might restrict the foreign banks to enter into India. However, it is because of the attractiveness of the market of India that forces the foreign banks to enter into India.
The leading banks of the United States like the Lehmann Brothers have provided housing loan to the people who were not enough credit worthy. As a result, they defaulted and the banks have declared themselves bankrupted. As the financial institutions of the country had to face financial problem, the economic conditions of the country has deteriorated.
It is the procedure by which the marketers create an identity or image about the product, brand and the organization in the mind of the target market. Successful brand positioning is dependent upon the identification and communication of the uniqueness and differentiation of the brand.
The idea behind this marketing strategy is to reduce costs associated with production and distribution of a product hence reducing the final cost to the consumer. In turn the product is marketed to large masses at low prices hence earning quick returns. The idea of mass marketing was made popular by the growth of mass media capable of reaching a diverse audience at the same time.
This essay discusses that the financial recession affected the whole world, which has started from the United States due to the housing bubble. The leading banks of the United States like the Lehmann Brothers have provided housing loan to the people who were not enough credit worthy. As a result, they defaulted and the banks have declared themselves bankrupt.
The bank is dealing in universal banking operations, consumer, corporate, institutional and treasury services to the clients. The revenue of the bank is generated more than 90% from the Middle East, Africa and Asia whereas the bank is
8 pages (2000 words)Essay
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