Marketing Spotlight on HSBC Case Study Example | Topics and Well Written Essays - 1250 words

Marketing Spotlight on HSBC - Case Study exampleA deeper insight into this strategy reveals that the efforts are directed towards becoming the consumers expert on cultural acquaintance of the nation thus getting deep visibility into financial opportunities in the country hidden in the personality & motivation of the end consumers that is normally invisible to other outsiders (Montgomery. 2008).The emplacement model of HSBC is supported strongly by their global technology system called Hexagon Infrastructure having foundations laid way rachis in 1983 and afterwards key enhancements implemented in 1987, 1989, and 1994 (Peffers and Tuunainen. 1999). HSBC owns one of the most sophisticated & efficient banking transactions & customer attend management systems of the world. As defined by Hamid and Amin et al. (2007), Internet Banking is a powerful mean of enhancing competitive advantages that should be informative, communicative & transactional as per the local customer needs. As re ported by these researchers, HSBC is one of the few unknown banks that are able to compete effectively with the local banks at Malaysia & Thailand pertaining to Internet Banking. Also, this is the only bank in the world that offers secure ID tokens to the customers for Internet Banking (Goodwin. 2006).A nonher key success factor of HSBC is their focus on some(prenominal) specific customer needs through niche marketing like the example of pet damages offering in the spotlight document. Lemon and Seiders (2007) presented another niche focus of HSBC servicing fund transfers for immigrants back into their respective countries through HSBC website. This service is specifically very popular in markets like Mexico and Philippines that are not core masterminds of many multinational banks. As a result of such offerings, HSBC customers perceive the bank to be socially responsible and innovative which adds to the brand equity of the organization. Sirkeci (2008) presented another niche pos itioning by HSBC whereby they keister the needs of ethnic population of developed countries and offer customized products for them. To serve this segment, they have hired frontline staff from the target communities to ensure better customer friendliness.In nutshell the primary competitive advantages of localization competencies and ability to target niche segments has ensured the current global positioning of HSBC as such.Where is HSBC vulnerable and what should they observe forMcDonald and Chernatony (2001) reported that while the competency of localization is evident very strongly in the parent brand, the same is not reflected adequately in publicity of individual products like Meridian, Vector, Orchard, etc. Moreover, the benefits of individual products of HSBC are not communicated adequately through product brand exercise. This leads to tight correlation of individual product lines with the parent brand thus risking the HSBC brand equity in a location due to failure of a prod uct line. This is a serious vulnerability that HSBC should watch for. Another vulnerability HSBC might face is pertaining to their sheer size and the