Marketing Strategy of Barclays – Barclays Marketing Strategy: Barclays is a 325-year-old bank financial institution that offers services like wealth management, investment banking solutions, International Cards, and more. for both corporate and retail customers. It is a major player in both the UK as well as the US because it has categorized its business in Barclays Corporate & International and the Barclays United Kingdom.
Barclays At A Glance – Marketing Strategy of Barclays
Company : Barclays plc
CEO: Jes Staley
Founder: John Freame | Thomas Gould
Year founded: 20 July 1896, City of London, United Kingdom
Headquarters: London, United Kingdom
Annual Revenue: POUND£3.1 Billion
Profit | Net income: POUND£611 Million
Number of employees : 83,500
Products & Services: Bespoke loans | Current accounts | Personal loan | Home insurance | Life insurance | Travel insurance | Mortgage calculators | Portfolio finance
Competitors: General Mills | Mondelez International | Kraft Heinz | J M Smucker | Ingredion | Quaker Oats Company | Nestle | Conagra Foods | Frito-Lay | Cadbury | Quaker Oats | PepsiCo | Danone | Seneca Foods | Tyson Foods | Campbell Soup
Marketing Strategy of Barclays
Barclays Marketing Strategy covers various aspects of the business right from segmentation and targeting to the overall mission and vision of the company and the various parameters which the company executes to become the top brand that it has in the market. So what is the Marketing Strategy of Barclays? Let us discuss.
Segmentation, Targeting, Positioning – Barclays Marketing Strategy
Barclays divides the finance market into demographics and psychographic factors like income, age, and more.
It utilizes a distinct targeted approach to address the requirements of individuals and corporate investors/customers, respectively.
With an array of strategic alliances and subsidiaries, Barclays has positioned itself by the type of product and services it’s providing to its customers.
Barclays’s Mission Statement
Barclays’s Vision Statement
“Help people achieve their ambition in the right way”
“To be fraud smart”.
Competitive Advantage – Marketing Strategy of Barclays
Stronghold in advanced economies such as the US and UK thanks to its diverse portfolio of the product ranges has enabled the company to stay ahead of the curve and collaborate with Fortune 500 companies.
Diversified product range including wealth management services international cards business to corporate financing Barclays expands its global reach via its transatlantic business that includes the corporate bank franchise.
BCG Matrix – Barclays Marketing Strategy
Its two business divisions, namely Barclays Corporate & International and the Barclays United Kingdom are stars because it is a 325-year-old business, and the level of expertise and customer services are admirable.
Distribution Strategy – Marketing Strategy of Barclays
With around 60 different countries, and servicing over 50 million customers with the 5000+ branch locations throughout the globe has ensured that the company is to be competitive and provides a variety of financial services and products to its clients.
Brand equity – Barclays Marketing Strategy
By shifting its positioning to position it in the role of “go-to Bank” in the year 2014, Barclays has created a tradition of trust. Barclays has, through its latest ads tried to inform clients about their financial needs and how Barclays can assist or enable customers to meet those needs.
Competitive Analysis – Marketing Strategy of Barclays
When it comes to competition in the area of competition, Barclays is simplifying its business operations throughout the world by concentrating on developed countries. Recently, the company sold its stake within Africa to consolidate its operations and concentrate on its two primary businesses i.e. Barclays UK and Barclays Corporate & International.
While the marketplace for financial services is highly competitive across the world because of the existence of NBFCs, and local and national financial institutions, however, due to the expanding globally strategies and targeted strategies to boost growth help the company in decreasing its operating costs and getting increase by 22% year-on-year rate of profit before tax in 2015.
Market Analysis – Marketing Strategy of Barclays
Financial institutions because of the fluctuation of market elements like regulatory rules or competition, policies of the government, and competition from competitors are having a difficult time sustaining growth and sustain. In addition, because of the economic downturn and the eurozone crisis, economic recession, and the eurozone crisis, financial institutions are having a difficult time achieving their objectives and Barclays being a UK-located company isn’t the only one to suffer from it.
Customer Analysis – Barclays Marketing Strategy
Customers of Barclay’s are individual and corporate investors seeking financial advice and investment services such as ones related to products for managing wealth such as wholesale banking, international credit cards, etc.
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