I need some assistance with these assignment. product strategy for hsbc bank Thank you in advance for the help!
I need some assistance with these assignment. product strategy for hsbc bank Thank you in advance for the help! Through its international network linked by advanced technology, including a rapidly growing e-commerce capability, HSBC provides a comprehensive range of financial services: personal, commercial, corporate, investment and private banking. trade services. cash management. treasury and capital markets services. insurance. consumer and business finance. pension and investment and management. trustee services. and securities and custody services.
financial services in 83 countries and territories. It provides its customers with a wide range of banking and other financial services, selected to complement its strategy in each market. Where HSBC enjoys large scale – or, in the case of emerging markets, where scale can be built – it offers a full range of personal financial products. In other markets, it participates more selectively, meeting the needs of customers with strong international connections. Sometimes it innovates and at other times, it relaunches some products as per the need of the market. HSBC has adopted a unified brand, using HSBC and its hexagon symbol nearly everywhere it operates, with the aim of enhancing recognition of the Group and its values by customers, shareholders and staff throughout the world. The branding initiative allowed HSBC to develop new services and products on a worldwide scale, all bearing the Group’s identity. Since 2002, the HSBC identity has carried the strapline ‘the world’s local bank’ emphasising the Group’s experience and understanding of a great variety of markets and cultures. HSBC follows the Product Invention Strategy(Kotler,422). This means that either it develops new products or reintroduces earlier product forms and promotion does not change. It could be diagrammatically represented as follows:
Managing for Growth Strategy: This strategy provides HSBC with a blueprint for organic growth and development. This strategy was launched in 2003 and would continue up to 2008. The plan aims at guiding the Group to achieve management’s vision to be the world’s leading financial services company.