financial services in 83 countries and territories. It provides its customers with a wide range of banking and other financial services, selected to complement its strategy in each market. Where HSBC enjoys large scale - or, in the case of emerging markets, where scale can be built - it offer a full range of personal financial products. In other markets, it participates more selectively, meeting the needs of customers with strong international connections. Sometimes it innovates and at other times, it relaunches some products as per the need of the market. HSBC has adopted a unified brand, using HSBC and its hexagon symbol nearly everywhere it operates, with the aim of enhancing recognition of the Group and its values by customers, shareholders and staff throughout the world. The branding initiative allowed HSBC to develop new services and products on a worldwide scale, all bearing the Group's identity. Since 2002, the HSBC identity has carried the strap line 'the world's local bank' emphasising the Group's experience and understanding of a great variety of markets and cultures. HSBC follows the Product Invention Strategy(Kotler,422) . This means that either it develops new products or reintroduces earlier product forms and promotion does not change. It could be diagramatically represented as follows:
Five International Product and Promotion Strategies
Do not change promotion
Do Not change Adapt Product Develop New
Managing for Growth Strategy: This strategy provides HSBC with a blueprint for organic growth and development. This strategy was launched in 2003 and would continue up to 2008. The plan aims at guiding the Group to achieve management's vision to be the world's leading financial services company. The company has identified global pillars namely customers, brand, employees, corporate culture, global distribution, technology and process and the organisation. and has made policies to strengthen each of its pillar. The responsibility for delivery of objectives lies with country managers, and heads of customer groups and global businesses under the direction of Group and regional head offices. This strategy has actually incorporated all the areas where an organisation can falter.
Its strategy of Managing for Value' emphasised the Group's unique balance of business and earnings between the older, mature economies and the faster-growing emerging markets. In 2002, HSBC acquired and recapitulated Grupo Financiero Bital in Mexico and in 2006 purchased Grupo Banistmo. Based in Panama, Grupo Banistmo, was the leading banking group in Central America and gave HSBC access to new markets, with offices in Colombia, Costa Rica, El Salvador, Honduras and Nicaragua. Despite its adventures overseas, HSBC still has a clear focus on its