Standard chartered marketing 360

Welcome to our PresentationGlobal Business Strategy

Introduction

• Standard Chartered is a British financial services company

• Headquartered in London, UK • Operates in more than seventy

countries. • It has 1,700 branches

worldwide & employs 73,000 people.

History

• The name Standard Chartered comes from the two original banks from which it was founded and which merged in 1969 — The Chartered Bank of India, Australia and China and The Standard Chartered Bank of British & South Africa.

History

• With the experience of ANZ Grindlays included, they started banking back in 1905 in Bangladesh

• The Standard Chartered Bank of Bangladesh was originally established in 1948

Services of Standard Chartered Bank Bangladesh

Personal Priority SME Wholesale IslamicBanking Banking Banking Banking Banking

Personal/Consumer Banking

• Accounts• Cards• Loans• Branch & Services• Service Quality

Priority Banking• Priority Banking is the personalized

wealth management program at Standard Chartered Bank

• It is their Endeavour to be the Right Partner in all the personal and business ventures of the customer

• The Priority Banking program revolves around five main cornerstones of service - Personal, Professional, Profitable, Private and Privileged.

SME Banking

• It offers products and services to help small and medium enterprises manage the demands of a growing business

• The bank provide them with different SME banking facilities and sometimes guide them to maintain better fund management

Wholesale Banking

• Wholesale Banking has a client-focused strategy, providing trade finance, cash management, securities services, foreign exchange and risk management, capital raising and corporate finance solutions

Islamic Banking

• Standard Chartered Saadiq's dedicated team provides comprehensive international banking services and a wide range of Shariah-compliant financial products based on Islamic values

• The list of Islamic banking services are– Saadiq current account– Saadiq savings account– Saadiq Term Deposit – Saadiq Auto Finance – Saadiq Personal Finance – Saadiq Home Loan & Saadiq Debit Card.

Environmental Assessment

• The environmental assessment is of two types:– Micro Environmental– Macro Environmental

Micro Environmental Assessment

The Bank Suppliers

People who are ensuring all the instruments needed for banking such

as the stationary, the printing support, and other things to run the bank

Customers

Businessmen, People of Higher Middle Class to Rich, other Financial Institutions

Employees

Graduated & Post Graduated people having the background of business school degree and fluency in English

Competitors

BRAC Bank, HSBC, DBBL, UCB, South East Bank,

City Bank

Stakeholders

Indiduals, Investors, Employees, Suppliers,

Companies and Account holders

Media

TV Channels, Newspapers, Radio Channels

Macro Environmental AssessmentPESTLE3

• Political• Economical• Social/Socio-Cultural• Technological• Legal• Environmental/Ethical

• Company Mission“To create exceptional value for our clients, investors and staff; through market leadership in providing innovative Banking Products, Services and Solutions, and by adopting and living the core values”

• Entry ModeStandard Chartered Bank followed the Wholly-Owned Subsidiary Mode to enter in Bangladesh. The original Standard Chartered worldwide owns 100% share of the Standard Chartered Bank of Bangladesh.

Brand Image

• Brand image is lively, spirited & polite as well

• The brand collaborates the promise to gain trust through sincerity and honesty

• The name shows energy, commitment, passion, speed and key partnership dynamics

Market Orientation

• Standard Chartered Bank engages itself in Regiocentric Market Orientation

• There are always been a scope of customization for better output and flexibility

• So, technically Standard Chartered relies on both Standardization and Adaptation strategy

SWOT Analysis

Strengths

o Strong operational existence – 100 years of banking in

Bangladesh

o Worldwide presence through strong brand name

o Diversified range of service offerings

o Well established online banking & remote access to

account & money transfer cntd…

SWOT Analysis

Strengths

o Use of state of art technology

o Well organized network facility

o Research team for market analysis and financial

potentiality

o Leading price player in treasury instruments and foreign

currencies

SWOT Analysis

Weaknesseso ATM coverage is not as good as other private banks

o Service is not catering the mass people

o Marketing campaigns & advertisements are not aggressive

o Too much importance on specific niches

o Rumor of charging high service charge

SWOT Analysis

Opportunitieso Huge market potential

o Constant rise of stock market

o The growing interest of people in derivative & foreign

exchange market

o Diversified loan service might help to do business in specific

niches

SWOT Analysis

Threats

o Introduction of lucrative new services by other banks

o Shifts in customer’s demand

o New regulation by the government

Innovation

•Diversified service offerings

•Concentrating on specific niches

•Customized loan facility

•Shariah banking

Quality

•Distinct ambience of certain colors on branches

•Nice & pleasant environment

•Decorative & thoughtful

•Well Secured with surveillance camera

•Enough space

•Use of technology

Customer Responses

•Quick response of customer needs

•Constant feedback & checkout

•Periodic notification to customers

•Complain box

Efficiency

•Quick service delivery

•Electronic que management in some branches

•Different que for account holders

Competitive AdvantageNice banking environment,

Security, Technology Involvement, Efficient, Customer Priority,

Responsiveness, Service Diversification, Ethical Banking

Competitive Advantage

Quality• Distinct ambience of certain colors on branches• Nice & pleasant environment• Decorative & thoughtful• Well Secured with surveillance camera• Enough space• Use of technology


Efficiency• Quick service delivery• Electronic que management in • some branches• Different que for account holders


Customer Response• Quick response of customer needs• Constant feedback & checkout• Periodic notification to customers• Complain box


Innovation

• Diversified service offerings

• Concentrating on specific niches

• Customized loan facility

• Shariah banking

PurposeTo create exceptional value for their clients, investors and staff; through market leadership in providing innovative Leasing Products and Solutions, and by adopting and living our core values

Values: • Creative• Responsive• Courageous• International• Trustworthy

Ashridge Model

Ashridge Model

Strategies• Offering diversified service• Giving importance to specific niches• Campaign & advertisements• Maintaining strong networking facility• Provide online banking service• Prioritize account holder’s comfort• Use & maintenance of modern technology• Conducting research on market & finance potentials• Proactive response• Promise & sincerity to gain trust

Ashridge Model

Behavior Standards• Sound & professional working environment• Training facilities for potential employees• Meeting & discussion for upcoming business

prospects• Listening to employee problems & provide possible

solution• Bonus, incentives & increment

Porter’s Generic Strategies

Decision Making

• The bank can take almost all necessary decisions by itself.

• Major decisions, investments, new regulations, worldwide business term decisions are taken centrally.

Levels of Marketing Plan[Strategic]

Target Marketing Decisions– Understanding of increased business activities– Potential niches looking for customized banking– A market for secure banking and protection of

client exposure

Value Proposition

“Leading The Way In Asia, Africa & The Middle East” “Leading By Example To Be The Right Partner”


• Slogans cntd…“You think you can fly, we’ll give you wings” – Personal Loan

“You want your account to have it all, we have the answer” – Super savers

“You want to bank at your own time, we make it possible” - eSavers

“You want to unlock the value of your property, we provide the key” – Loan against property

“Your values, your way ” – Standard Chartered Saadiq


Service Features• Innovative, State of art and Flexible• Secured and well maintenance of secrecy• Respect to the customers• Fair treatment to stakeholders• Prioritize customer demand• Ensuring customer’s comfort• Biased to ethical standard• Giving value to customers thought and belief• Diversified service offerings• Maintaining strong network facility• Promise and sincerity to gain trust

Levels of Marketing Plan[Tactical]

• Promotion– Media: Print insertions, TV, Radio & Sponsorships– Ads are live and focused mostly on athletes

– show energy, commitment, passion, speed and key partnership dynamics

– show energy, commitment, passion, speed and key partnership dynamics


Pricing– Bank charges was high earlier– Presently the charges are moderate– Special services or differentiation of particular

services made them able to take premium charges


• Sales Channels– Commission agents– Visits to the workplaces of potential clients– for selling Fixed deposit schemes and credit cards


Group Code of Conduct Comply with laws, regulations and Group standards Reject bribery and corruption Avoid being compromised by gifts and entertainment Speak up Combating financial crime Avoid conflicts of interest Do not deal in shares when in possession of inside information Treat customers fairly (TCF): Respect customer confidentiality Treat people fairly and with respect Responsibilities to our communities and regulators

HR

• Main Jobs:– hire better employees– train them– listen to their problems and come up with

possible solutions– performance monitoring– recommending the candidates for the promotion

and many other jobs.

• Training– Rotation 1 - Branch operations– Rotation 2 - Credit Risk – Rotation 3 - Product – Rotation 4 - Customer-facing role

HR

• Dealing with expatriates– The candidate must have an experience of banking in similar country

environment for more than 4 years. If not, the potential candidates will the provided with all the information of the country where he/she is going to reside before appointment.

– If the candidate is married, it is the duty of the candidate to make sure where his/her spouse will feel comfortable

– If the candidate is appointed he/she will be given all necessary support except the salary to better adjust with the country

HR

• Dealing with expatriates ….cntd

– The employee will get an yearly leave of at least 20 days to visit his/her home country

– If appointed the candidate will be given all possible support to communicate with their relatives in home country such as computer with internet connection and webcam

– All the problem faced should be presented in detail to

manager in written form to take necessary action

HR

CSR Activities

• Seeing is Believing – A New Vision aims to raise USD 20 million to develop comprehensive, sustainable eye care for 20 million people in less advantaged areas of 20 cities across the world, including Dhaka. Under this project, Standard Chartered has committed USD 1 million over between 2008 and 2013 to Dhaka Urban Comprehensive Eye Care project that will serve over 270,000 visually impaired people.

• “Living with HIV” – Standard Chartered Bangladesh organized six seminars titled “Confronting AIDS Challenge in the 21st Century: The student Community” to educate over 1,000 students from six different universities in Dhaka to spread awareness about HIV /AIDS amongst the younger generation

CSR Activities

• Standard Chartered – The Daily Star “Celebrating Life” Contest; a film, photography and lyrics contest, which received over 8,000 lyrics, 6,500 photographs and nearly 100 films as entries. This contest was designed to encourage people of all ages across the country to participate and in the process know more about Bangladesh and project a positive image of Bangladesh in the international arena.

CSR Activities

• Standard Chartered Bangladesh is also the proud sponsor of Young Learners Club of The British Council for the last 10 years, the diverse contests and programs organized by Young Learners Club facilitate children not only to recognize their hidden talent but also to nurture them

CSR Activities

• First commodity derivatives in Bangladesh and cotton hedge for the Group of Square Textiles

• Record Call Account Growth in RAJUK fund• ‘Best Retail Bank in Bangladesh” in 2007• ‘National Best Corporate’ Award 2007 by CMA• ‘Best Bank’ for CSR for 2006 by Bankers’ Forum• ‘Best IT use Award’ 2007 by Bangladesh Association of

Software & Information Services (Basis)• ‘Best Employer of IBA Graduates’ in 2008 by IBA Alumni

Association

Recent Achievements

Recommendations• The brand image of Standard Chartered Bank is so strong across the

globe. But yet in Bangladesh, the people know less about this bank. So the bank should engage itself with more advertising.

• Still there is a rumor in the market that Standard Chartered Bank charges irregular bank charges and the account maintenance cost is so high. The bank should campaign more to inform people that there is no such thing in their banking.

• The number of ATM booth is not sufficient. Comparing to the other private banks like DBBL or Brac Bank, Standard Chartered Bank’s number of ATM booths are too low. They should set up more ATM booths across the country.

• The Islamic banking facility is not much flourished in Standard Chartered Bank. There are some other banks in Bangladesh which are providing Islamic banking facilities. The proper concept of Islamic banking is not clear among the general people. Standard Chartered Bank should work harder to strongly establish their Islamic banking in Bangladesh.

• A strong part of agriculture is booming in Bangladesh. Outside Dhaka division, Standard Chartered bank can emphasize on the agricultural sector and can start banking operation over there.

Recommendations

• In Dhaka and Chittagong, the trends of organized retail stores are in rise. People tend to buy their daily groceries and kancha bazaar from those retail super shops. Standard Chartered Bank can tag with some of the stores and can provide membership card facilities to the customers. This will be a new business for them.

• Standard Chartered Bank is greatly involved with CSR activities. They take their pride in giving rewards to top CSR activities in Bangladesh. Standard Chartered Bank can do more charitable work by organizing fund raising programs.

Recommendations

• As the bank operates to deliver flexibility and customization of service, an online consulting service can be introduced to reach out more interested people in remote locations.

• The bank can provide scholarships to students with great intellect. A brainstorming contest of a pool of good students can come up with a specific group of three or five. They can be provided with business help or scholarships to study abroad.

Recommendations

Conclusion

Thank You!!!

Standard chartered marketing 360

Business

Transcript of Standard chartered marketing 360