Analysing the marketing environment of Woolwich Bank UK

p Introduction

In the business world strategic positioning has become an unavoidable endeavor as businesses look for every means of improving their competitive advantage . In such a business environment , a much reliable reprieve can be found in the adaptation of analysis models by organizations . Several analysis models have been utilized by organizations all over the world since the 1960 's . Among the widely used analysis models are : porters ' model , SWOT analysis , Ansoff analysis Porters generic models as well as the 7P 's matrix . In this Pestle and Swot models are going

to be applied to the analysis of the marketing environment of woolwich bank UK . The goal of the analysis is to analyse the macro and micro should explain the larger societal forces that affect the whole microenvironment . Micro analysis will endeavor to explain the forces close to the organisation that affects its ability to serve its customers . The company , market channel firms , customer markets , competitors and public

Pestle Analysis of the woolwich bank UK

POLITICAL INFLUENCES

Politics in the real world is felt globally and it changes from one leadership to another . Some businesses are politically oriented for example setting up a bank operation in UK may be politically driven . A firm may wish to establish its network operations but some political issues may hinder the operations from being carried out . Some politicians will push for the establishment of a certain organizations while other politicians may oppose this . Change in political regimes may affect organizations for example the present regime , which is in power today , may seize to be in power tomorrow . This may affect the mobile phone industry either negatively or positively . This will affect the organizations running and therefore its profitability

ECONOMIC

Economic situation is the backbone of the prosperity of any organization . This is to mean that if the economy is fairing quite well , then you find that the mobile phone industry for example is running well and the vice versa is true (Ehrenberg , Andrew , Mark Uncles , and Gerald G . Goodhardt , 2004p .356 . The economy in most cases is determined by the resources available nationwide . For Woolwich , the economic situations seem to favor it although many ongoing changes have to be initiated in to keep the company afloat

SOCIOLOGICAL

In a social arena where the society is friendly , then to carry out a business is easier and convenient . The firm should take into consideration that , without cooperative and ready customers where it operates from , it can 't progress well . The analysis should take into account that if the society is friendly then to carry out a business is very easy . These people are the immediate customers and so higher sales will be attained leading to higher profits

TECHNOLOGICAL

The analysis should involve a wider aspect of business environment globally and to be alert on daily changes (Garbarino Johnson 1999p . It is so essential that the analysis carried out cater for all technological loopholes , which may lead to other rival industries competing quite well

LEGAL

Every industry operates under certain rules and regulations , which are set up by the government . For a business to be set up , the government must legally accept it . Taxation is another legal aspect . Thus tax has an implication in that cost of the industry will be increased thus reducing profits . Hence the analysis should take into account all these aspects before setting up the industry . Otherwise the aftermath may have adverse effects to the industry

ENVIRONMENTAL

Environment being the key aspect of every industry should be taken care of . The environment may include the following

Size and structure of the industry

Competitors

Intermediaries

Stakeholders in the industry

For a firm to run efficiently it should carry on business in a sizeable and well-structured site . This necessitates smooth running of the organization (Kalafatis Miller , 1997p .145-146 . The intermediaries and stakeholders assist for example in service distribution and the running of the industry (Kalafatis Miller , 1997 . Consider how to treat each of them so that there is no inconvenience

SWOT ANALYSIS

SWOT simply stands for Strengths , Weaknesses , Opportunities and Threats It 's an analysis conducted on different alternatives to generate strategies especially in business and market plans (Chaudhuri Holbrook , 2001 . The strengths and weaknesses are classified into internal factors while the opportunities and threats are classified into external and internal factors

INTERNAL FACTORS

Strengths

Operating capacity

The fact that Woolwich will is a household name recognized all world over increases its production capacity . This is due to increased production expertise and manpower

Operational efficiency

A higher efficiency is attained from

Brand awareness

It employs both research and manpower to establish strategies of entering the market . The fact that there already exist quite a number of consumers in the market , it has to use that opportunity to challenge its competitors since now that they are combined , and they have a better market leadership

Resources

By utilizing these resources , there is a possibility of achieving reasonable profits

Weaknesses

For a firm to be effectively productive , it has to face some challenges These are simply referred to as weaknesses , which the firm has to encounter . The firm however should try to overcome the weaknesses and capitalize on the strengths

Location

Bad reputation

Opportunity

This refers to the change that rises when a new product or good is introduced in the market . It gives a positive outcome to the firm , that is , there exists a chance in the market . It mainly arises due to changes in business environment (Hirschman , 1970p .56-59

Technology

Technology is said to be a day-to-day strategy

Market development

It will upgrade its goods and services and this in turn enhances good public relations , which results to rise in the sales . The two companies have been said to be working towards lowering customers ' cost from its services they offer . These low costs will attract and maintain more customers thus increasing sales . Stiff market

Threats

These are the challenges , which a firm faces in the external environment for example when joining the market (Hirschman , 1970p .50-57

Price wars

One way of competing is by setting the prices whereby the competitor may decide to lower its market prices to counter attack other competitors such as Standard chartered and Royal Bank

Cost of market penetration

Pursuance of the consumers

Market research

All these factors involve human expertise and so they hinder quick market entrance

Taxation

Tax is the highest threat for companies since it is a mandatory to pay (Oliver , 1999p .30-37 . Different countries have different tax rates

SWOT Analysis / Step analysis

The following Swot were derived from the initial surveys

Lack of communication

Lack of public interest in public jobs

No impact messages and communication

Low public interest

No strong organizational branding

Opportunities

Publicize the ability to offer god interest interests not matched by any one else

Capitalize on proxy to government

Capitalize on flexible service appointments

Threats

Lack of well-integrated marketing plan capable of amassing all organizational departments to pull in one direction . That aligns and integrates all institutional entities

Lack of tact in delivering the message to the market

Lack of impact mission /vision statement

Lack of enough funds to execute Integrated Marketing Plan Strengths Weaknesses Opportunities Threats

-Good public image and goodwill

-Room for expansion and growth

-Strong management

-Skilled professionals

-Public acceptance and expectations

-Continuous demand

-Strong industry

-Societal acceptance

- Availability of expertise

-Availability of web technology -Negative customer relations

-Bureaucracy in decision making which hinders progress

-Weak policy implementation

-Funding required

-Focus on technology improvement

-Utilize partnerships with government to boost promotional campaigns

-Funding

-General acceptance

-Competition

-Maintenance of services

-There is a perceived lack of demand

-Institutional barriers such as lack of autonomy

-Legal liabilities

-Reduced independence

-Growth may bring more visitors to offices already receiving maximum possible visitors in a day

-Competition from other banks .STEP ANALYSIS

Social Technological Economic Political

Life improvement

Improved technology

Impact on economic growth

Strong economic system in

Established infrastructure

Employment creation . Interferences from government .CONCLUSION

Adapting the integrated marketing will guide the organization establish and maintain a leading role in the job market . The fact the market is full of banking organizations releasing messages into clients , means that the organization will have to factor in the fact that daily messages aimed at the same depositors are released through newss TV , therefore it becomes hard for the recruits to differentiate between good and bad banks . The message the organization wants to sell is that look all depositors , we are different , we just do not serve to make profits we want to build a corporate family , where your needs shall be catered for whether banking or investment . From the analysis above the weaknesses of the do not weigh much compared to the strengths the bank has manifested . Accordingly , the market is big , and therefore the opportunities are much available and all the companies ' involved in the venture are bound to benefit very much , in terms of market share increase , customer subscription base increase as well as realizing good profits for the shareholders and therefore contributing to the economic improvement of the countries where the companies operate . As for the UK business environment , can be termed as conducive in aspect of environment , political , legal , social , technological and economical Therefore the market can be termed as favorable

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