... BBVA has three primary lines of business: retail banking for consumers and businesses, corporate and commercial banking, and wealth management. Their goal is to become one of the top-10 banks in the US. BBVA’s target demographics is consumers identified as “strivers”, upwardly mobile 25-54 years old with an annual income of more than $75,000. The primary marketing goals for BBVA, through online and offline channels, are to build awareness and trust in their brand, support their various lines of business (savings, checking, mortgage, commercial), and to improve satisfaction and retention of current customers. However, there is a slight difference in expectations between online and offline. The major goal for offline marketing is to build brand awareness and consideration among potential customers. Online goals are to build online brand awareness and acquire new customers. BBVA’s conundrum is how to best allocate their 2011 marketing budget of approximately $50 million between online and offline platforms. Our overall recommendation is to increase marketing funding to online advertising in order to gain more customers. Currently, only 5% of BBVA customers are acquired through the online channel as opposed to the much larger 95% through offline activities. Our evaluation is that the online acquisition process can be greatly improved. Certainly their competitors are using the online platform to build brand awareness (exhibit 3B) and have a great advantage over...
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... Alongside this growth in household high-speed access to the internet there has been a very rapid growth in internet shopping. In 2004 internet sales made to UK households by UK non-financial sector businesses were valued at £18.1 billion, an increase of 68 per cent on the previous year. This compares with sales of around £3 billion in 2000 (ONS Annual e commerce survey, 2004) Trade comment suggests that rapid growth has continued in 2005 (Interactive Media in Retail Group (IMRG), e-retail, 2005) However a recent Mintel survey paints a more cautious picture suggesting that the rate of growth in internet sales, while continuing, has slowed down and is now largely in line with growth in consumer internet connections (Mintel Internet Quarterly, 2005 ). The same Mintel report notes that the Internet has not transformed the face of retailing to quite the extent predicted five years ago but that it is continuing to establish itself as something more than just a niche retail channel. In this respect, it is obviously of more importance to some sectors than others, something that to a large extent is determined by the relative ease or difficulty with which an online order can be fulfilled. UK internet retail sales in 2005 represented 3.1 per cent of total retail sales of businesses. This share had risen from 0.1 per cent in 1997 (Verdict e-Retail Report, 2005 ) Industry projections suggest that...
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...1. What is the role of offline and online advertising in acquiring checking account customers for the bank? Building brand awareness, gaining trust, and improving consideration among potential bank customers for opening new checking accounts is the role of offline and online advertising in acquiring checking account customers. Another role that offline and online advertising plays in acquiring checking account customers for the bank is by being a gateway for other lines of businesses within the banks entity. As a way to maximize the global awareness of the BBVA brand, they adopted the trade name BBVA Compass in 2009. Awareness for the new name dropped below 50%, to 48% in 2009 and the goal in 2010 was to raise brand awareness to 53%. BBVA sought to achieve this through stimulating both online and offline advertising in order to further build its online brand awareness and acquire new customers for different lines of the business. Offline advertisement covers sponsorships such as the multiyear deal with the NBA that would make it the official bank for the NBA, WNBA, and the NBA Development League in the United States, Spain, and Puerto Rico. Other huge sponsorship deals are Spain’s top professional soccer league and a major college football event. BBVA Compass uses both search and display advertising, generally accompanied by a promotional offer to encourage customers to open a new checking account. Offers included an iPod Nano or iPod Touch, 5% cash back...
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...Q1. Evaluate Product innovation at Gillette throughout its history. Has Gillette been a victim of its own success? Has product innovation in the wet-shaving market come to an end? Explain. Gillette did not focus too much on product innovation until several years later. There was no need to focus on innovation because they dominated the market for so long with no new competitors in the industry. It wasn’t until later on that Gillette started working on product innovation when a competitor entered the market. In 1962 an English firm named Wilkinson Sword entered the market with stain-less steel blades. Luckily for Gillette, they were able to buy out this competitor and remain dominate in the market. Even though they were able to buy Wilkinson Sword out this still had a negative impact on Gillette because it made their market share drop to $1.33 per share. There was several times where Gillette became a victim of its own success. The first is in its early years when they dominated the market with no competitors. When Gillette saw this continued success the company wanted to try something new so it decided to buy two business ventures unrelated to the personal grooming industry. The companies were the Toni Company and the Paper Mate Pen Company. This was a bad idea because the attention was then turned to these new products and the other product that was already performing so well was being ignored. As time moved forward a new competitor (Wilkinson Sword) entered the market and...
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...BSc (HONS) in Business Information System BIS3012 – Customer Relationship Management Field Research – Customer Relationship Management Tutor: Dr. Lakshimi Narasimhan Chari Date of submission: 9th December 2011 ABSTRACT. Relationship Management is the most strongest and most efficient approach in maintaining relationship with customers. Businesses base on the customers as the famous saying, “Customers are always right” The impact of CRM in the commercial world cannot be undervalued. CRM is first and foremost business strategy that can be effectively executed through the appropriate business process and technology management capabilities the best match to an organization’s customer facing goals. Says Francis Buttle, pg 6, yr 2009. Table of Contents Pages 1. Introduction to Customer Realationship Management (CRM) 1 - 2 2. Business Models of Companies # Alibaba.com 3 # Illyria Geotechnologies 4 # iTunes 4 # Apple.Inc 5 # E-Bay 11 5 # Avon 6 # Inland Revenue Board of Malaysia 6 # Syabas 6 # The Northeast Gang Information System 7 # Proton Sdn Bhd 7 # E-Citizen portal of Singapore 8 # Immigration Department of Malaysia 8 3.Social Media Applications 9 4. CRM Software applications 10 5. CRM Strategies and associated business process 11- 12 6. CRM Best Practices 13 - 14 7. Conclusion 15 8. References 16 – 17 Introduction. According to Judith (2003, pg 41) CRM...
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...your own language as much as possible. If you quote directly, you must use proper citation format. I will deduct points if you do not use correct citation format. Type your answers below each numbered item. Be sure that you save your work often so you do not lose anything. I recommend that you save an unaltered version of the assignment and refer to this on occasion to make sure that if you accidentally delete questions as you type your answers, you can re-include the question along with your answer on your final document. Make sure that you answer all of the questions. Some numbered items include more than one question. Remember to look up all words that are unfamiliar to you. This is very easy to do using Google or some other online source. Part I: Introduction 1. Discuss the purpose of the authors’ research. Answer: The Authors plan on exploring the range of identity construction on “the proclaim” social website Facebook. 2. What do the authors mean by the term “nonymity”? Answer: The Authors describe the term...
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...archive of this journal is available at www.emeraldinsight.com/0263-4503.htm Brand equity for online companies Rosa E. Rios Australian College of Kuwait, Safat, Kuwait, and Brand equity for online companies 719 Received 1 May 2008 Revised 1 July 2008 Accepted 1 July 2008 Hernan E. Riquelme Kuwait-Maastricht Business School, Salmiya, Kuwait Abstract Purpose – The purpose of this paper is to determine if the traditional approach to measuring brand equity applies to online companies. Design/methodology/approach – This objective is pursued by: developing a measurement model of brand equity for online businesses; and testing the nomological validity of the model using structural equation modelling. Findings – This study finds partial support for the application of the offline brand equity theoretical framework based on brand awareness, brand associations and loyalty for online companies. Brand loyalty and brand value associations directly create brand equity. Research limitations/implications – The study is cross-sectional, the indicators or observable variables used in this study may not be deemed comprehensive enough, no interaction effects have been incorporated, and finally, the research study was based on a few online business retailers. Practical/implications – The results support the view that a consumer’s perceived sense of value resulting from a transaction with an online business develops loyalty. Also, brand-trust association and brand awareness indirectly contribute...
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...business-to-consumer (B2C) marketing is different. Some people think marketing is marketing and whether it is marketing to consumers or marketing to businesses, it is still just marketing to people. E-commerce is rapidly becoming the new frontier of the 21st century. As a business strategy with tremendous potential, is worth taking a close look at what works and why and why it can work. In the today business environment, there is a clear advantage to being on the Web ahead of the competitors and in presenting a high quality image and positive, productive communications through Internet contacts. Advertising by promotional pages is an extremely effective way to highlight a single product and is rapidly becoming the product presentation form preferred. Especially when combined with e-mail or newsletter programs, it offers terrific versatility in adapting your advertising to specific interest groups and retail customers. Promotional pages have been regularly used in print media to introduce a product, but the electronic version can be used and reused for as long as needed without additional printing expense. It is clean, focused, concise, and detailed, is the next best thing to putting a product sample in the consumers hands. Marketing by means of the Internet offers both opportunity and hazards for businesses that choose to operate online. On the opportunity side, the B2B electronic market is an remarkably important area of marketing since the dollar transaction levels; about two thirds...
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...The growth of online retail has been exponential in the last decade, consumers are shopping more and more online, and potential business owners are looking to the information highway which is the internet to launch their business into operation. The terms e-commerce and e-business get thrown around when we talk about online retail, however, the terms are quite different. Online retail for niche markets have grown as well, there is usually an online retailer that is taking advantage of every growing fad or new products that are introduced to our society. These niche online retailers sometimes have great success and sometimes they do not have success, but no matter what, we can always find multiple websites that appeal our specific hobbies or interest such as; comic books, fitness, golf, videogames, or really anything you can think of. The differences between e-commerce and e-business are subtle, but there are differences. According to Learn.org, “Electronic commerce (also known as e-commerce) is the buying and selling of goods and services over the internet. E-commerce is one aspect of e-business.” The concept of e-commerce is simple, it is the buying and selling of goods online, it is the basis of e-business but e-business is a little more complex than that. Conducting sales online and participating in an e-commerce environment is simple and a lot of people do it. Running an e-business is a more complex task that takes all the financial, planning, marketing, and logistical...
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...Applied Strategic Marketing Report 2013-2014 "The Benefits and Challenges of Multichannel Attribution in Marketing Analytics" by Alan K H Hsu 00849147 Word count: 4990 A report submitted in partial requirements of the MSc in Strategic Marketing degree 1 24th August 2014 Table of Contents Executive summary .................................................................................................. 1 Introduction .............................................................................................................. 2 Literature review ....................................................................................................... 4 The emergence and influence of Big Data ............................................................. 4 Attribution theory .................................................................................................... 6 Last-click attribution modelling ............................................................................... 7 MCAM .................................................................................................................. 10 Discussion .............................................................................................................. 14 Benefits: clearer channels interactions ................................................................. 14 Benefits: better marketing decision and effective budget allocation ..................... 15 Benefits: stay justified...
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....…………………………………… 5 3. Implementation of the strategy for 4ps …..……..…………………………… 6 3.1 Product……………..…………………………………….………………. 6 3.1.1 Core product ……………….…………………………………… 6 3.1.2 Extended product ……….………………………………………. 7 3.1.3 Branding ……………….…………………………...……………. 7 3.2 Price …………………………………………………..…………………. 7 3.2.1 Payment method …………….…………………………………. 8 3.2.2 Price policy ………………….………………………………….. 8 3.2.2.1 Differential pricing ……………………………………. 8 3.2.2.2 Membership pricing policy …………………………… 8 3.3 Place …………………………………………………………………….. 8 3.3.1 Online channels ………………….……………………………... 9 3.3.2 Offline channels ………………………………………………... 9 3.3.3 Distribution channels ………….….……………………………. 9 3.4 Promotion ………………………………………………………………. 10 3.4.1 Online promotion ………………………………………………. 10 3.4.2 Offline promotion ……………...………………………………. 10 3.4.3 Search engine marketing ………………………………………. 11 4. Conclusion ………………..…………….…………………………………….. 12 5. Reference List ……………..…………………………………………………. 13 Introduction As software is ubiquitous in today’s business world, software as a server has been used widely. The SaaS firm which located in Beijing should make a proper marketing strategy and only...
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...Praxis II: Marketing in the 21st Century Marketing: Strategic Innovation in Globally Diverse Markets December 23, 2012 Abstract This paper will explore the potential evolution of the role of consumer marketing. I will examine the role of the retailer and the consumer on the Internet and the vital changes retailers must incorporate to stay competitive in the marketplace. In addition, I will discuss the role of personalized marketing, traditional advertising versus online advertising, changes in the marketplace attributable to globalization, the implications of interpersonal communications, and management of the 5Ps. Personalized Marketing Personalized marketing (sometimes referred to as one-to-one marketing) is the marketer attempt to provide the customer individual attention through a variation of methods. Personalized marketing is a strategic approach which involves tailoring products differently for each and every consumer while retaining the principles of mass production. One-to-one marketing is attributable to two converging phenomena: the interactive flow of information made possible by robots and just-in-time inventory (Lampel & Mintzer, 1996, p. 21). In order for a company to be effective in personalized marketing, the company must be able to gather information on the target individual. Today, with the power of technology this is a widespread practice on the Internet. The Internet provides a medium to make one-on-one personalization practical for...
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...process research can influence the degree of realization of investment. 3. In the evaluation of investment projects, in general the risk factors must take into account and calculate the extent of the risks, which is value at the risk of the investment. Case 2 PALAMON CAPITAL PARTNERS/TEAM SYSTEM S.P.A. What might explain the valuation results? The use of relative valuation methods, using earnings, book value, sales ratio and other indicators of vertical or horizontal comparison,. Considerations on the basis of the earnings the company's profit growth rate, that is earnings divided by the company's profit compound annual growth rate, the results are better able to reflect the growth rate of profits between companies because of differences in the formation of the difference, helping investment who make relatively more accurate valuation judgments. He should consider more on period factor and the cost factor Case 3 NATIONAL RAILROAD PASSENGER CORPORATION (“AMTARK”); ACELA FINANCING Failed financing decision results excessive debt, which increase corporation burden of periodic payment of interest and the interest due for repayment. In the other hand, it...
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.......................................................................................................4 Preface 6 Chapter 1 Main findings............................................................................................7 1.1. Intermediary providers and certain online merchants have benefitted already.......12 1.2. Cross border trade and productivity growth.........................................................12 1.3. Contractual obligations in consumer contracts may hinder cross border trade......14 Chapter 2 The impact of specific provisions............................................................16 2.1. Limited liability provisions ..................................................................................16 2.2. E-contracts ..........................................................................................................23 2.3. Information requirement provisions ....................................................................24 2.4. The establishment provision ................................................................................30 Chapter 3 Country of origin and the impact on prices and productivity.................33 3.1. Goods and services suitable for online...
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...Praxis II: Marketing in the 21st Century by Daisy Chesley Marketing: Strategic Innovation in Globally Diverse Markets Walden University December 23, 2012 Abstract This paper will explore the potential evolution of the role of consumer marketing. I will examine the role of the retailer and the consumer on the Internet and the vital changes retailers must incorporate to stay competitive in the marketplace. In addition, I will discuss the role of personalized marketing, traditional advertising versus online advertising, changes in the marketplace attributable to globalization, the implications of interpersonal communications, and management of the 5Ps. Personalized Marketing Personalized marketing (sometimes referred to as one-to-one marketing) is the marketer attempt to provide the customer individual attention through a variation of methods. Personalized marketing is a strategic approach which involves tailoring products differently for each and every consumer while retaining the principles of mass production. One-to-one marketing is attributable to two converging phenomena: the interactive flow of information made possible by robots and just-in-time inventory (Lampel & Mintzer, 1996, p. 21). In order for a company to be effective in personalized marketing, the company must be able to gather information on the target individual. Today, with the power of technology this is a widespread practice on the Internet. The Internet provides a medium to make...
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