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Mibanco

MM

Mabel Medrano

Transcript

PORTER: Five Forces

Mibanco

Karen Galván

Nalia Andrea González Córdova

Jacobo Peralta

Iván Padilla

Mabel Medrano

Mibanco

History

  • Peruvian bank (1998)
  • 74 offices nationwide
  • Micro-finance pioneer
  • Entered a high risk market
  • Competes with international banks

Implications

Internal Analysis

External...

External analysis

  • Strengths
  • Weaknesses
  • VRIO
  • Watch for rival companies that might be able to imitate their techniques.

  • Continue to reach segregated population.

  • Build and strengthen relationships.
  • Consider only one market if struggling.

PORTER

Oportunities

Threats

Internal...

  • Innovate marketing campaigns constantly to maintain low-class potential and current clients (mentality).

  • Be prepared for competition.

  • Keep employment process as is.

RIVALRY:

Strengths

  • Main competitors: BCP, Scotia Bank, Banco del Trabajo.

  • Rival companies try to steal their employees.

  • 44 e micro-finance firms from different categories.

BUYERS (CLIENTS)

ENTRY

  • The number of clients (October 2003 and November 2004) presents a downward trend.

  • The maximum was presented in November 2003 with a total of 105,880.

  • September 2004, lowest number of existing customers: 100.487.
  • Government gives out licenses to promote competition.

  • entrance risk depends on the part of pyramid entered (relationships).

  • Different knowledge needs.
  • Leading microfinance institution

• Largest existing client base

• Dominant reputation

• Strong customer relationships

• Large network of branches and agents

SUPPLIERS

SUBSTITUTES

  • Suppliers of capital might not pose a big threat.

  • Threat of suppliers stealing away human capital.
  • Multiple banks that offer almost the same loans

  • Competition is rising from unconventional companies.

Weaknesses

Oportunities

• Lack of insurance experience

• Need to educate uninformed costumers

on insurance

• Need of innovation

Large potential market.

First mover advantage.

Word of mouth marketing.

Educate their customers.

  • Constant need to change marketing campaigns.

V R I O

Threats

Resources Valuable? Rare? Hard to imitate? Organized Properly? Competitive Implications

Experience & Yes No Yes Yes CA

capability of employees

Trust Yes Yes Yes Yes CA

Relationship Yes Yes Yes Yes CA

with costumers

Innovation capacities Yes No No No CD

Advertising Yes No No Yes CP

  • Superior companies in the insurance sector.

  • Need for new designs for target market.

  • Word of mouth marketing.

  • clients mentality changes.