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Transcript of HSBC
WORLD'S LOCAL BANK
Serving Local Market
Understanding the different culture
Hong Kong Shanghai Banking Corporation limited, HSBC established in 1865 to finance the growing trade between China and United Kingdom. Its now the second largest bank in the world!
CORPORATE SOCIAL RESPONSIBILITY
Unique marketing strategies
Proximity to its Customers
Serves Local Market
One Strategy to appeal and influence the masses
High Sales and Low Costs
Opposite to Niche Marketing
Pulls in worldwide business under a single global brand with the World's Local Bank
Ignores different market segment and appeal whole market with one strategy
Serving Local Market
Targets consumer niche with unique products and services.
Sponsors more than 250 cultural and sporting events with a special focus on helping the youth, growing education and embracing communities.
Huge Profits: In 2009 it earned $142 billion in sales making it 21st largest company in the world
Effective penetration of the market
Understanding the different needs and requirements of the clients and serving them accordingly
CSR: HSBC does its part of Corporate Social Responsibility. Due to its Global Positioning it launched a huge campaign to revitalize the local economy affected by SARS outbreak.
Huge Costs: The major risk involved in the strategy adopted by HSBC is the huge cost involved in understanding different culture and applying different strategies for it. It annually spends $600 million on global advertising.
Market Segmentation: Their strategy will take a beating if the market they segmented is not appropriate.
losing focus on the real market
Difficulty in reversing the decisions as its long term and strategic.
HSBC resonates with its target audience:
Its ad campaigns are simple and easy to understand
Acknowledges Multiple view points and difference of opinions
Relates to Broader Audience