WORLDS 4TH LARGEST BANK
Why is HSBC so famous?What is its key marketing strategy?
About HSBCHSBC stands for Hong Kong and Shanghai Banking Corporation Limited.Established in 1865 to finance growing trade between China and United Kingdom by Thomas Sutherland.First incorporated on 14th August, 1866.First bank in Thailand and printed the countrys first currency notes.
Facts about HSBCPublic Limited CompanyIndustry : Banking, Financial ServicesWorlds fourth largest bank in terms of assets.Area Served : WorldwideRevenue : $ 60.68 billionTotal Assets : $ 2.670 trillionWebsite : www.hsbc.com
THREE LEGGED STOOL STRATEGYBy the end of 20th century, HSBC had acquired numerous companies in hopes of implementing a three-legged stool strategy; the three legs represented a foothold in UK, USA and Asia.
DIFFERENT VALUES HSBC launched one global campaign titled Different Values which embraced this exact notion of understanding multiple view points and different view points.
The Lemonade ADIt tells the story of a young entrepreneurial girl who sets a lemonade stand that accepts variety of different currencies.
HSBC demonstrates that as the global financial landscape shifts and evolves, even the smallest businesses will be multinational in future.
YouTube video link : https://www.youtube.com/watch?v=yOct05ANPC4
Worlds Local BankHSBC wants to be known as the worlds local bank. This tagline reflects HSBCs positioning as a globe-spanning financial institution with a unique focus on serving local markets.
HSBC has successfully grown its business under a single global brand under this tagline.
Worlds Local BankThe aim was to link its huge international size with the close relationships it nurtures in each of the countries it operates.
HSBC has around 6,600 offices in 80 countries and territories across Africa, Asia, Oceania, Europe, North America and South America, and around 60 million customers
Concentrating on little known ProductsThe bank has gained insight into how to target consumers natures with unique products and services
For example it found a little known product area growing at 125% year, pet insurance. HSBC now distributes nationwide pet insurance to its depositors towards HBSC insurance agency.
In Malaysia, it had a smart card and no frills credit cards to undeserved student segment and targeted high value customers with premium centre bank branches.
Traditional AdvertisingAdvertising in airports.Sponsoring 250+ cultural and sporting events.Advertising with special concentration on helping youth, growing education and embracing communities.
Questions to ponderWhat were the risks and benefits of HSBCs positioning itself as the Worlds Local Bank?
Evaluate HSBCs recent business and marketing shift. How do you think its current campaign and tagline, HSBC helps you unlock the worlds potential, resonate with its key consumers?
Marketing Management by Philip Kotler edition 15.HSBC Wikipedia https://en.wikipedia.org/wiki/HSBCHSBC - Website www.hsbc.comhttp://www.about.hsbc.co.in/https://www.ukessays.com/essays/business/
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