Marketing Techniques Used in Marketin Products in Barclays Plc and Diabetes Uk Assignment

Marketing Techniques Used in Marketin Products in Barclays Plc and Diabetes Uk Assignment Words: 1836

(1)INTRODUCTION I am going to describe the marketing techniques used to market products in Barclays Plc and in Diabetes UK as well as their main activities. (1a)BARCLAYS PLC Sector by activity Barclays is a global profit making service provider that offers retail and commercial banking,corporate and investment banking,credit cards,wealth and investment management to over 50 countries worldwide. (1b) DIABETES UK Sector by activity

Diabetes UK is the largest charity organisation in the UK that provides products and services such as retirement,life,travel,motor and home insurances as well as care events,financial services,practical information and safety-net services for people with diabetes,their family,carers and friends to help manage their diabetes better. (2)MARKETING TECHNIQUES Ansoff growth matrix Ansoff growth matrix is a useful marketing tool that helps businesses deceide their product range and market growth strategy and it determines whether or not the business sells new or existing products to new or existing customers.

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The four main growth strategies are: market penetration is where the company increases its sales of existing products or services such as current accounts, loans etc to more customers in the market. market development is where the company grows in its total market by selling its existing products and services to new targeted customers. product development is where the company creates a product with new or different features or functions that offers new or additional benefits to existing customers. diversification is where the company sells a totally new product or service to new customers in other parts of the world.

The diagram below indicates the following. Survival strategy These are strategies that a business put together in order to overcome financial crisis or to prevent the business from going bankrupt or collapsing. Branding Branding is a process involved in creating a unique name and image which can also be a slogan, symbol, sound or even a word that is broadcasted through several media channels such as tv commercials, radio stations, newspapers etc and enables the customers to recognise the maker or seller of a product and differenciates them from other brands that offer similar services.

Relationship marketing Relationship marketing is a long term strategy that companies, organisations, businesses etc use to build a friendly environmental relationship with individual customers by offering them loyalty cards, informing them about similar or new products and services ,bonuses and other promotions in order to fulfil their needs and maintain their friendship and to help boost the company’s income. (3)HOW MARKETING TECHNIQUES ARE USED IN BARCLAYS AND BARCLAYCARD (3a) GROWTH STRATEGY

Barclaycard is the UK’s first credit card and also the leader in card and payment services provided over the internet and 800,000 customers using the online account services. Barclaycard now operates internationally throughout Europe, the United States and Africa and has recently made efforts to expand even more into the United States after buying out or taking over the US credit card, Juniper Financial Corporation in December 2004. Product development Barclaycard has partnered with orange to bring contactless mobile payment to market.

This enables it’s customers to pay for everyday items from ? 15 and below just by tapping their mobile phones wherever contactless payment symbols are provided and it builds on existing contactless payment technology with 12. 9million credit and debit cards already in circulation of which 11. 4million have been issued by Barclaycard and Barclays who have been pioneers in bringing it to market earlier in 2007. Market development Barclays launching Barclaycard into new countries as part of global expansion programme is typical example of market development because Barclaycard is being introduced to new customers in new geographical areas such as the United States and Africa. Market penetration Barclays was the first bank in the UK to introduce personal bankers, current accounts and bank loans in the late nineties to some of its branches under a pilote scheme and now Barclays is a worldwide bank that provides these same services to more customers in this same market. Diversification

Barclays corporate offer expert teams across every sector from manufacturing and technology, agriculture, oil and gas, healthcare, hospitality and leisure, retail and wholesale to restaurants and law firms and was the first bank to introduce industry specialisms in various sectors. Barclays corporate gives its customers a dedicated relationship director who can structure solutions and deliver appropriate services to boost customers businesses. (3b) SURVIVAL STRATEGY Barclays survival strategies are strategies they amend or put together to enable the company overcome financial crisis or problems.

For example, when the UK was entering into a recession, Barclaycard’s sources of income were dying up so it ramped up its televisual exposure by hiring Rowan Atkinson and backing him up with increased TV spend to differenciate barclaycard from other credit cards. And also offered lower interests, free purchase protection as well as respond to the world’s worst humanitarian crises and help people to survive and rebuild their lives ( international rescue ) to retain high value customers and recuit new customers in order to return the brand to its profitable state.

BRANDING Barclays brands are recognised all around the world and plays a vital role in the realisation of its goals. Barclays logo is a blue text and a blue spread eagle on a white background positioned at the top left side of Barclays webpage and its not just a name and a symbol but also what the group stand for in the minds of its customers and employees. It also represents a wider range of experience and expertise after over 300 years of history.

Barclays is now the 7th most valuable banker globally and has risen from eighth position last year to sixth in the Brand Finance table. Barclaycard logo represents a “chip” being released from the constraints of the plastic card and welcomed in by innovative and amazing means of payment. With its company name included in the branding, customers rate it as the best because of Barclays good reputation and this logo merely blends in with its competitors and aims to convey a calm, confident exterior while being warm and vibrant on the inside.

It has been designed to work better online and comes in four different colours – green, orange, magenta and the signature cyan version, to bring Barclaycard closer to the parent Barclays brand. Source http://www. brandrepublic. com/News/849431/Barclaycard-signals-strategic-shift-new-logo/ (3c) RELATIONSHIP MARKETING Barclays and Barclaycard are not only interested in marketing their products and services to customers but also putting the interests and needs of its customer first and offering them rewards and promotions in order to maintain its relationship with customers.

For example, British Airways and Barclaycard in the UAE offered new customers 40,000 BA miles when they activate their cards between January and April 2011,BA miles earn rate when both new and existing customers spend on their cards and other amazing reward when they spend with partners including shell and pizza express. Barclays maintains its relationship with customers by offering them not only rewards and promotions but also suggesting or providing them with similar products and services through emails, text messages and letters. 4)HOW MARKETING TECHNIQUES ARE USED IN DIABETES UK Growth strategy Market development One of the ways diabetes uk has developed its market was by setting up a diabetes uk challenge website hosted directly by chameleon which is a social-media connected personal fundraising site and already in its first year, it was promise ? 421,701 from a new supporter base which is 98 percent of people who had never given to charity before. This website has enabled any person to set a challenge for themselves or another which has increased the number of new fundraisers. Diversification

Not only is diabetes UK a charity that raises funds for the survival of people with diabetes but they also create road shows which visits the most deprived areas in the UK, providing important information about how leading a healthier lifestyle can help reduce the risk of developing Type 2 diabetes and offers running events which is firmly committed to providing the very highest standards of diabetes care and education and also provide a sound overview of diabetes to ensure that people with diabetes receive the right support and to prevent people from developing the condition in the future and they do this by offering training courses and awareness for employees and organisations. Market penetration As the main cause is to raise funds for the survival and treatment of victims of diabetes and those at risk, they provide interesting care events such as their road shows, running programmes, products that helps people to manage their diabetes well and other trips for people as well as donation websites in order to increase the number of people who donate to the charity and to make donating more simplier. Product development

Diabetes UK Insurance Services have joined up with EssentialTravel. co. uk to negotiate the best travel essential deals for their customers. This ensures that their customer don’t get caught out paying over the odds for airport parking, airport hotels, airport lounges and car hire excess insurances. SURVIVAL STRATEGY Improving on advertisement, offering new and interesting events as well as lower interest rates on care line and insurance services encourages people to use and find interest in the charity and also appeal for help via newspapers/radio or TV as well as use community groups to appeal to people’s consciences is one of the ways Diabetes UK survives through financial hardships.? Branding

The essential assets of the diabetes uk logo is the name text-Diabetes uk and the hummingbird symbol and it symbolises peace, unity and love. Diabetes UK logo is a black text and magenta symbol on a white background and is 118 pixels wide by 96 pixels high. 30 pixels to the right of the logo, vertically aligned with the base of the logo is the strapline. The main brand font is fruitiger supported by arial for main screen text. The preferred logo positioning is at the top left of the web page. However, wherever possible, more space should be allowed to give greater prominence to the logo. The logo should always be reproduced faithfully from master artwork. The branding is important because it separates and enables people to identify the charity and this is as shown below.?

Relationship marketing Diabetes UK has over 65 years of running events and is firmly dedicated to providing its people with unlimited care and education, expert tuition and an uncompromising safety and also provide children with a weekend support to experience an adventurous weekend away from their homes to meet other children of similar same range with diabetes and also provide care lines for to help people with queries, their concerns and event to talk about their feelings as well as organise social, road and care events to meet the needs and to raise more funds for the people. This helps to maintain and to attract more people to the charity.

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Marketing Techniques Used in Marketin Products in Barclays Plc and Diabetes Uk Assignment. (2020, Dec 06). Retrieved April 15, 2021, from https://anyassignment.com/art/marketing-techniques-used-in-marketin-products-in-barclays-plc-and-diabetes-uk-assignment-33725/