Marketing for financial serivces Essay Example | Topics and Well Written Essays - 750 words

Marketing for financial serivces - Essay modellingThe company faces in launching the new products and run for the customers in such economic conditions and therefore loses the computer storage rate of customers and faces many problems. Coming towards social conditions of the bank, the bank micro environment was enough good simply its macro-social environment wasnt that much strong. However, the company launches many Acts against the unfair banking conditions and after 11 eld the Act of failure Abuse Prevention and Consumer Protection becomes a law in 2005. Similarly, the company launches the law of Frontline Pbs in 2004 again against the unfair banking services. The companies social condition was much better but its rivalry when enter in the market in the year 2003, when these rivalrys introduces new services and products the company faces a huge lost. Coming towards the demise agenda, Technology, the company didnt introduce the latest technology in the company and was unable to introduced latest products and services. This make the competitor more strong and thus reduces the market growth of the MBNA.The major competitor and players in the Europe against the MBNA is HSBC and Barclay. Barclay principally deals in personal loans, mortgages and basically deals in personal banking and same is the condition of HSBC. As in his competitor environment the MBNA needs some thing new that helps in achieving the market place. Therefore, MBNA launches insurance products and business realisation cards in order to meet the political conditions of the Europe. In last few years the brass has changed many rules and regulations in order to decrease the interest rage charging on credit cards and thus this directly affect the MBNA credit card services. Due to the low productivity of MBNA from the last few years there is a clear space between the market positions. Let involves the Porters Model in it in order to understand the five forces.The holy terror of substitute products there is the threat that the HSBC new product and services whitethorn capture the MBNA customers which may cause a huge cost to the company. Their product differentiation may cause a huge cost on the company. The HSBC is the key player that will affect the MBNA. The threat of the entry of new competitors due to the new regulations of giving medication the financial services of the Europe is becoming more stable. That is the reason that why the new companies are emerging and do the switching cost to the MBNA. In 2003 and 2004 the government policies affect a lot on the success of MBNA and causing the customers to quit to other new opportunities. This causing a clear market space between the MBNA and its competitor. On the other hand the brand does matters a lot. Different services in credit card may cause in lowering the retention rate of the customers in the MBNA.The intensity of competitive rivalry the competitors though are very few at present conditions but these com petitors are very strong. On the other hand, many new companies are deciding to provide their services in the near future. The HSBC is offering international financial