Halifax in Ireland

Résumé du document

Halifax is the “personal” branch of the HBOS group.
The bank is present in the Irish market for less than 2 years. The Irish marketing strategy is unlike the UK one (different service marketing mix). The overall objective is to become the 4th largest bank in Ireland by 2009.

We cannot really talk about price in the banking industry. But we can basically compare the value of the products by 2 indicators -

The interest rates offered by the diverse competitors: It is the money that customers can earn by owning a Halifax account.

The variable rates practiced on the loans by the diverse competitors: It is the money that customers will spend by contracting a Halifax loan or mortgage.

Extraits

[...] Halifax in Ireland Halifax is the “personal” branch of the HBOS group. The bank is present on the Irish market for less than 2 years. The Irish marketing strategy is unlike the UK's one (different service marketing mix). The overall objective is to become the 4th largest bank in Ireland by 2009. The 7 Ps Products In this part we will talk about intangible services as products. [...]

[...] PR: Halifax press releases, WoM, sponsorship. Direct marketing: mobile campaign in November 07 via the Vodafone Live! Mobile internet portal, direct mail. Internet: web site and links from BOS and HBOS. Place 40 Halifax stores around Ireland 60 AIB stores in county Dublin Location: Biggest towns Town centre or around a commercial centre Opening hours: People Employees Involved in promotion: front-staff, TV ads Company culture Empowerment and personal achievement Career development and rewards Take care of employees' opinion with an annual survey But front-staff not involved in marketing decisions Physical Evidence Positive evidences Warm colours (blue, mauve) Free coffee machine Access for disabled people Luminous store Spacious Tidy store, leaflets clearly exhibited Uniform Office in glass = transparency Negative evidences The outside is not well looking Copy machine on the customer part Process Conclusions and recommendations Marketing strategy New on the market Needs and wants to increase quickly its market shares Customers are attracted by the “value for money proposition” Customers see Halifax as a strong brand Halifax enjoys a strong awareness due to the TV advertising campaigns (UK and Irish ones). [...]

[...] cost strategy Positioning The positioning take in account the perceived quality and the perceived price level. Perceived quality: “always giving you extra” high quality of service Price level: “value of money proposition” low price level Upper middle market sector Target Markets Halifax offers services through personal banking. Its portfolio is not really specialised. The company needs to target the market finely. But who in particular? [...]

[...] The variable rates practiced on the loans by the diverse competitors: It is the money that customers will spend by contracting a Halifax loan or mortgage. Halifax use a saturation pricing strategy and price bundling (as the majority of its competitors). Promotion Halifax use the following marketing channels: Advertising: Newspapers, Outdoor advertising (posters), Television (easily reminding ads: http://mx.youtube.com/watch?v=Gg6HdAHFDe8&feature=related Radio Sales promotion: incentives to switch to Halifax (Easy switching with the Switching team) Personal selling: by keeping its employees satisfied, Halifax facilitates the relationship quality. [...]