Barclays being 325-year-old banking financial institution is offering products such as investment banking, Wealth management services, International Cards etc. for both retail & corporate customers. It has a strong presence in UK and US as it has defined its businesses into Barclays Corporate & International and the Barclays United Kingdom.
Segmentation, targeting, positioning in the Marketing strategy of Barclays –
Barclays segment the financial market on demographics and psychographics variables like age, income & occupation, etc.
With a large number of strategic partnerships and subsidiaries, Barclays has positioned itself on the basis of kind of product/ services it is offering to the customers.
Mission – “Not available”
Tagline –“To be fraud smart”.
Competitive advantage in the Marketing strategy of Barclays –
Stronghold on developed economies like US and UK with the help of its diversified product portfolio has helped the company to be technologically ahead and work with fortune 500 companies.
Diversified product portfolio from wealth management services, International cards business to corporate financing, Barclays is expanding its reach globally through its transatlantic diversified business which comprises of corporate banking franchise.
BCG Matrix in the Marketing strategy of Barclays –
Its two business divisions namely Barclays Corporate & International and the Barclays United Kingdom are stars due to the fact that being a 325 years old company, it brings the kind of expertise and customer services are commendable.
Distribution strategy in the Marketing strategy of Barclays –
Operating in more than 60 countries and serving 50+ million customers through its 5000+ branches across the world has helped the company is competitive and offer the bouquet of financial products and services to its customers.
Brand equity in the Marketing strategy of Barclays –
By repositioning itself as “go to Bank” in the year 2014 Barclays have recreated a culture of trust. Barclays has through its recent advertisements have tried to educate customers of their financial needs and how Barclays is helping/ enabling them to achieve the same.
Competitive analysis in the Marketing strategy of Barclays –
As far as competition is concerned, Barclays is simplifying its business operations across the world by focusing more on the developed nations. Recently, it sold its equity in Africa to consolidate its business and focus on its two main business divisions i.e. Barclays UK and Barclays Corporate & International.
Although the financial market is competitive around the world due to the presence of NBFC’s, local & national financial institutions but due to it is going global strategy and focused tactics to accelerate the growth graph is helping the company in reducing its operating expenses and achieving a 22% YoY growth rate in profit before tax in the year 2015.
Market analysis in the Marketing strategy of Barclays –
Financial institutions due to the volatility of the market factors such as regulatory rules, competition, government policies and competition from the peer companies are finding hard to sustain and grow. Moreover, due to the economic downturn and eurozone crisis financial institutions is finding it hard to achieve their goals, and Barclays being a UK based company is not an exception to it.
Customer analysis in the Marketing strategy of Barclays –
Barclay’s customers are the individual and corporate investors who are looking for financial consultancy and investment services like those relating to wealth management products, international cards, wholesale banking etc.