correcting Powerpoint presentation for Marketing and public relations class

This is the bank senario that the professor is talking about:

 

You have just been hired as the vice president of advertising and public relations. The president of the company has sent you the following message to give you an idea of what the company is about and what is expected from you in your new role:

Introduction

Welcome to the first of our strategic planning meetings. Before we get started, I would like to thank you for joining our bank in the capacity of Vice President, Advertising and Public Relations. Although we only have five branches located throughout our state and are considered a small bank by some, we not only wish to grow, but must grow or we will be swallowed by the big banks that are operating all around us. We have been too stagnant for too long and it is time to move forward. Senior management conducted several strategy sessions, and it was decided that we needed a new approach, which is why we created this new position and brought you on board to lead the charge.

We have never had a strong focus on public relations as a marketing tool, and we have also never really considered advertising as a requirement because we have relied mostly on referrals and word-of-mouth advertising in the past. This has served us well as a local bank, but based on increasing competition and the need for additional revenue, we need to grow beyond our existing customer base. This is where you come in.

I realize you have a very strong marketing background in advertising and public relations and have helped several organizations meet many of the same objectives that we are trying to achieve. By using someone from outside of the bank, we hope to bring in creative and fresh approaches to our strategic initiative. Ultimately, you are responsible for goal achievement. Let’s discuss the situation.

Background and Present Customer Base

As you are aware, we have been around for 30 years and have grown to 5 branches throughout the state. Our customers love us because we treat them like real people, focus on strong customer service, and give every customer the attention they require. We offer basic banking services from our 5 physical locations. Our services include savings accounts, checking accounts, CD’s, and loans.

We love our present customer base and do not want to lose them because they made us what we are today; however, our current local customers create very high expenses and offer little current or future revenue growth opportunities. They have very little money in their checking and savings accounts, so as a bank, we make very little on those assets. In addition, they carry a high cost per customer, which reduces our profit. They tend to be people from older generations who are not technologically savvy, require constant attention from our branch representatives through face-to-face transaction processing, insist on receiving paper bank statements, and refuse to use our ATMs. In addition, these customers are not the type that are taking out big loans and mortgages, which is really where we make a lot of money on the interest. Basically, we love our customers and want to keep them, but they cost us a lot of money and provide a very low return on investment (ROI). We need to penetrate a new market segment, and unfortunately, I do not know who that is.

Our current marketing strategy is to use our present customers to help us find new customers, but so far, we have not grown outside of our present, mostly unprofitable, market segment.

Next, as we have discussed, we currently offer no online banking or e-commerce services. That is rapidly changing because we are already working on the entire technical infrastructure. That will be ready to go soon, but we need to know how to get the word out regarding that initiative to the right new target market. In the marketing world, you call that reach and frequency.

Although this is a marketing-focused endeavor, you must create a strategic marketing plan before launching. This plan will set the bank’s marketing direction and bring the bank’s strategic goals down to an operational level where you can move forward based upon board approval of your plan and recommendations.

Reasons for Change

Based on the information above, we need to change the way that we do business to remain competitive; otherwise, the big banks will wipe us out. Specific reasons for the change include the following:

• Competition

  We have no competitive advantage

  The competition is growing, even in our own local geography, and starting to erode our current customer base.

• ROI is minimal based on the current customer base
• Expenses are high based on current customer base
• Limited growth potential in the current customer base
• Public relations is a key channel offering many opportunities
• Embrace advertising to expand beyond our customer base
• Advertising and public relations will be required to announce and successfully achieve the goals for our new branding and direction

The Bank’s Long-term Strategic Goals

• Increase overall profit and ROI
• Create a competitive advantage through our e-commerce initiative
• Identify and penetrate a profitable new market segment
• Use effective advertising and public relations to drive all 3

General Direction Forward

Achieving our long-term strategic goals should be based on the following overall components:

• We must find and establish our presence within a new profitable target segment. This encompasses launching new products and services, including the establishment of a very strong e-banking program that is based on the specific requirements of the new target market.
• We must develop an integrated advertising program that is inclusive of a strong public relations component. The focus of both the advertising and public relations will be penetrating our new segment through effective advertising and public relations, eventually resulting in increased profit.

An Overview of Your Role Moving Forward

The steps that will need to be taken to complete this initiative are as follows:

• Phase 1: Create advertising and public relations objectives that align to each of the 4 strategic goals. These represent the goals that you will achieve through the team’s efforts.
• Phase 2: Identify a new target market, and create service and product offerings that are tailored to that segment by utilizing the marketing mix. You will also investigate appropriate communication channels to reach this market.
• Phase 3: Create your branding strategy (position statement) for your new target market based on your situation analysis. This will start to integrate your goals, your situation analysis results, and your target market. This includes understanding, anticipating, and integrating plan components based on the potential impact of external influences (regulatory, economic, social, technology, etc.) that affect marketing.
• Phase 4: Create a public relations piece that you will use that is based on the target market needs, and include specific measures to gauge if it is effective. This will include tracking from an ROI perspective. You will present a preliminary proposal to senior management in advance of the final presentation to the full board in Phase 5.
• Phase 5: Give a final presentation to the bank president and the board with your overall recommendations. This will include how the strategy is integrated between the four components of the marketing mix.

Use the presentation that is ready just add to it and included more cites and references

add 3 more slides

use APA format

The professor wants this presentation to be real and explained in detail

each slide has professors notes correct all that are not marked as good and add the ones necessary and embellish all slides and notes to explain how this strategic plan is going to be executed.     

Transnational Bank

Public Relations and Advertising Strategic Plan

MKTG320-1801A-01

Introduction
Skillful PR marketing, and advertising
Strategy implementation
Potential customers
Perhaps provide an orientation to the strategic objectives of the bank?

Skillful public relations, advertising, and marketing plans have resulted into business recording major improvements in terms of revenue accumulation and consumer base. Determining potential clients and implementing appropriate strategies to enhance consumer loyalty is of significance. Therefore the management board is advised to observe appropriate marketing strategies to facilitate growth.
2

Strategic Planning
Advertising
Public relations
Market promotion
Strategic objectives

Advertising, public relations and sales management offers promotion strategies for various banks and financial institutions that can promote their online reputation in the market and obtain new customers. Advertising managers usually direct an organization’s promotional and advertising campaign. Banks to aim to achieve their goal of improving their revenue and this can only be obtained through the achievement of having a proper promotional campaign to achieve a larger customer base.
3

Marketing Objectives
Specific
Measurable
Achievable
Realistic
Timed

You must apply the SMART framework to your marketing objectives.

The SMART methodology indicates that a business should develop specific, measurable, achievable, realistic, and timed objectives. Specific objectives focus on one goal at a time hence the bank’s main focus will be effective public relations and advertising. Measurable objectives determine the bank’s marketing success in terms of units of measure like return on investments. The bank’s long term goals for penetrating new target markets is both achievable and realistic since it has been in business for the last 30 years hence enjoys the benefit of market experience.
4

Target Segment Identification
Unprofitable market segment
Psychographic needs
Provide loans
Proper advertising

So is your new target segment the current customers? In what way is it new?

Since the current marketing strategy is to utilize the existing customers to help penetrate new markets, the bank should grow outside its present unprofitable market segment. Basing on the psychographic needs and the emergence of mega banks with large equities, the bank should invest more, provide loans and high end savings to boost its relationship with its current standard banking customers in its segment through advertising.
5

Target Segment Comparison With Current Target Segment
Deriving great financial value
Establishing a robust market share
High end savings
Accrue more revenues
So is your new target segment the current customers? In what way is it new?

The current target segment for the bank is standard. Services offered include savings accounts, checking accounts, CD’s, and loans. However, since the bank plans to establish a robust market share and accrue more revenues through returns on investment (ROI). The target market segment focuses on high end savings that will include certificates of deposits, higher dollar value, and long-term savings products which are aimed at deriving great financial value from customers.
6

Channel Comparison and Selection
Increase brand awareness
Newspapers and radio ads
New market entrants
Digital marketing strategies

Which channels are you selecting for your new targets? And why?

Traditional marketing strategies easily reach the local target market. For instance the use of newspapers and radio ads may increase brand awareness within the local demographic segment. However, due to the proliferation of the market by new entrants, there is stringent competition for the market share and thus necessitates the bank to introduce digital marketing strategies which is also cost effective and targets both local and international; customers.
7

Situation Analysis
Strengths
Weaknesses
Opportunities
Threats
Relate these back to your strategic objectives

As banking is the driving force of the country’s economy, our strengths rely on the improvement of economic growth. Secondly, the business will be able to diversify its services to a wider market. Weaknesses observed within the firm’s service delivery systems such as ineffective coordination will result in uncertainties. Opportunities include the penetration of new markets and changing demographic factors. Finally the threats would be factors like economic recession and stiffened competition.
8

Position Statement and Branding Strategy
Differentiation
Unique value propositions
Generate consumer loyalty
Resonate with clients
So what’s your positioning statement?

To facilitate differentiation against competitors the brand strategy should align the banks advertising to unique value propositions. The banking system would establish new value curves like increasing revenues and high end investments as a key differentiation strategy. To generate consumer loyalty, it is necessary to communicate effectively and resonate with clients through logos and ads. The key message would be progressive bargain in order to lure the will of our customers and convince them to invest more.
9

Advertising and Public Relations Strategies
Technological advancement
Market strategies evolution
Cost-effectiveness and accessibility
Attract international customers
good

Due to technological advancements, it is a requisite as a financial institution to evolve our marketing strategies to attract a wider market. First, the traditional channels that will be deployed are the newspapers and radio ads due to their ease of accessibility and cost-effectiveness. Other media channels to be incorporated include logs, the use of social media, and websites to attract international clients.
10

Public Relations Piece
Consumer feedback
High standards of respect
Financial partnerships
Satisfactory service delivery

“Welcome to Transparency International where consumer feedback is the key aspect to defining our success. At Transparency International customers are treated with high standards of respect and concern to ascertain effective and sufficient delivery. Transparency International has partnered with other financial institutions to enhance financial exchange and maintain its reputation in the global sphere as well as acknowledge consumer satisfaction as the core purpose of its operations”
11

Public Relations piece Metrics
Key messages
Media exposure
Impact score
Source quality
Sentiment

Good

The metric for analysis will entail sentiment analysis which identifies and categorizes the expressed opinions in a story to determine the writer’s attitude in the story. Source quality will measure the overall number of different consumers who are exposed to the medium over a certain period. Key messages will be drafted to enhance message penetration as a quantitative measure across the all messages conveyed. Media exposure will quantify the magnitude of attention a certain online media, radio, or television give to a particular campaign ad. Finally is the impact score that would take into account the statistics of qualitative standards sufficed and the media source. 2-media source points and 1-qualitative source.
12

Integrated Marketing
Place
Product
Promotion
Price

This is IP5.
But make sure you applying it to your strategy

The marketing mix 4 P’s are place, product, price, and promotion. Under product, Transnational Bank will offer consumer banking securities management, legacy servicing and assets, insurance and finance. Under promotion the firm will invest in subtle advertisements and dishing out bonuses as a means of promotion. Considering place, the bank will establish an extensive grid of ATMs and offices. Finally, with regards to price, the bank has a reasonable and steady interest regime. Having existed for the past 30 years it is anticipated that it would develop a competitive pricing strategy.
13

Conclusion
Financial chain
Increase revenue equity
Facilitate international transactions

Good close

With regards to the strategic plan, Transnational Bank will struggle to make itself a competitive financial chain. The bank will enable new target customers to get access to more loans and thus increase its revenue equity. Apart from financing, the management wishes to penetrate into new markets and create new services that would facilitate transactions for both international and regional customers.
14

References
Berger, B. K., & Meng, J. (Eds.). (2014). Public relations leaders as sensemakers: A global study of leadership in public relations and communication management. Routledge.
Reddi, C. N. (2014). Effective public relations and media strategy. PHI Learning Pvt. Ltd..
Dwivedi, Y. K., Kapoor, K. K., & Chen, H. (2015). Social media marketing and advertising. The Marketing Review, 15(3), 289-309.
Percy, L. (2016). Strategic advertising management. Oxford University Press.

Added by instructor

Element PossibleGradedComments
Clear presentation with graphics and slide
notes as needed; citations
3030Good graphics; references present.
Spelling and grammar; APA 1515Everything was well written
Demonstration of marketing knowledge 4530
You have firm grasp on the course
concepts; the concepts need to be fully
applied to the bank scenario.
Coherent and logical marketing element
alignment for bank scenario
6055
Slides need greater elaboration of the
specific marketing strategy. Positioning
statement needs elaboratin.
150130