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HSBC
The World’s Local Bank
Junaid AshrafAli Tariq
Introduction Headquarter in London Largest Banking and Financial Services
Organization. Network comprises around 72000 offices
in 85 countries. HSBC employs around 300,000
employees speaking over 100 languages. HSBC serves over 85 million personal and
almost 3.6 million commercial customer.
Vision & MissionVision: To become the world’s most respected
service brand.Mission: The world’s leading financial service
company by providing the best service to its customers and clients around the globe.
HSBC Services International money transfers Travel money International account opening HSBC premier worldwide travel insurance Tailored Lending Guarantees & Letter of credits Margin trading facilities Online banking & reporting
Core, Supplementary and Augmented Services Core Services:-Deposits LoansInvestment CertificatesInstallments Supplementary Services:-Visa Marriage Checks Loans for surgical Operations Augmented Services:-Supporting Projects Life InsuranceCustomers Awards
Video HSBC Award
Marketing Mix
Product Price Placement Promotion People physical evidence Process
Product
Prepaid Card Real Time Balance Alerts Online Banking Optional Savings Account
Price
The pricing component plays twin roles for HSBC.
There are five main factors that influence pricing.
Attract customers to open up new current accounts with HSBC.
Placement
Involve both physical and electronic channels.
HSBC’s 1,492 branch network and also through the internet.
Promotion
Three objectives of the promotion element.
The choice of media that would be utilized includes newspapers, magazines, outdoor advertising and the internet.
Through Out of home media campaign.
People
Many financial services still require direct interaction between customers and bank employees.
Special attention needs to be given to the training of employees concerning the accounts.
Training should only be given to bank staffs that are directly involved in the new current account package.
Training of IT personnel must also be stressed as new information systems may have to be put in place before the launch of the new product.
Physical Evidence
It is generally recognized that physical evidence can be subsidized into two components.
The peripheral evidence is the prepaid card itself while the essential evidence includes bank branches, cash machines, posters and brochures.
Process
Effective front line staffs. A step by step guide on how to set up a
new current account and prepaid card system.
Customer feedback and complaints.
ALI TARIQ
HSBC
Competitive advantages International business and financial center
connecting to the world. The world's freest economy and free flow
of information. Relatively low taxes and simple tax
system. Free trading and currency exchanges. Clean government and Rule of Law. High quality workforce and infrastructure.
Physical and Electronic channels used by HSBC
Business Internet Banking HSBC Mobile Banking HSBC net Business Phone banking Commercial Service Centers Self Service Banking BizAlert Use electronic Statement Starting a Business One Stop Financial Services
Building customer loyalty
Make customer care a key part of your business strategy.
Learn as much about your different customer segments as you can.
Develop a brand around your company, products or services.
Design and deliver a ‘customer experience’ to address how you handle customers when they contact your business, whether by phone, letter or email.
Essentials of customer care
Encourage employees to deliver high-quality customer care.
Think of ways to make life easier for customers.
Use appropriate technology
Give customers a personalized service. Customer feedbacks. Contact any customer who has stopped
buying from you and find out the reason.
Communications
Plan a different type of communication for each.
Only offer products that match customers’ needs.
Have regular contact with customers.
ENTERTAINMENT For most important customers, entertain
on one to one basis. In order to entertain large number of
customers, organize an annual event. Give top customers more priority and
facilities. Added value schemes. Cumulative discount after reaching
specified spending target.
ENTERTAINMENT Issuing discount coupons for limited
time. Offering customer rewards. Relating the marketing to a local or
national cause.
ENVIRONMENT HSBC Climate Partnership Saving Mauritius funds Environment care association Treasure hunt Climate business Sustainability risk
ROHAIL ZAKIR
HSBC
SWOT ANALYSIS OF HSBCSTRENGTHS One of the largest and wide banking and
financial services. 275,000 skilled employees globally. 7500 offices around 87 countries. Strong product range to attract more customers. Strong balance sheet with respect to other
banks. Growing turnover and profitability and positive
cash flow.
SWOT ANALYSIS OF HSBCWEAKNESSES Weak financial management. Unpredictable cash flow due to weak
credit controls. Weak retail banking as compared to
other banks. Inefficient process resulting in
weakening bank environment and affecting customers.
SWOT ANALYSIS OF HSBCOPPORTUNITIES Expansion of network in other countries. Low profit rate as compared to other
competitors. Improvement of distribution channels. Introduction of new products or services
to comfort the customers.
SWOT ANALYSIS OF HSBCOPPORTUNITIES Implementation of new technology and new
material. Improving potential for better customer
services to save time of customers. HSBC should implement new technology and
new material as compared to competitors. HSBC should improve the potential for new
customers main thing so that customer time can be save and provide best service.
SWOT ANALYSIS OF HSBCTHREATS Changing of rules and regulations by
Govt. Tough competition from global leaders. New technology making the bank
products outdated and giving competitors advantage edge.
Hacking of customer information through online operation.
RECOMMENDATIONS AND CONCLUSION
To adopt a wait-and-see approach - and a careful look at their businesses, stress testing them for both economic downturn and full-blown recession.
To add diverse values to its strategy to establish its position in the target segment.
To establish changes to models, policies, processes and operations in response to lessons learned.
RECOMMENDATIONS AND CONCLUSION
To play their pricing strategies very carefully.
To integrate the latest features of modern technology in their operational strategy to get the competitive advantage.
To attract the lower and the mid-level customers redesign product with additional facilities.
JUNAID ASHRAF
HSBC
ONE MORE THING……… To add diverse values to its strategy to
establish its position in the target segment to maintain its leading position through offering the excellence in the services.
Aditi Malhotra says Thank You HSBC