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Bank card industry is relatively new business the name is derived from standard& chartered, standard bank of British south Africa merged with chartered bank of india, Australia and china in 1969. Standard Chartered gained mileage over its competitors by innovating concept in the credit card history of India ( photo card, member get member scheme) No aggressive advertisement credit card facilities are not as good as other private banks.
Bank card industry is relatively new business the name is derived from standard& chartered, standard bank of British south Africa merged with chartered bank of india, Australia and china in 1969. Standard Chartered gained mileage over its competitors by innovating concept in the credit card history of India ( photo card, member get member scheme) No aggressive advertisement credit card facilities are not as good as other private banks.
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Bank card industry is relatively new business the name is derived from standard& chartered, standard bank of British south Africa merged with chartered bank of india, Australia and china in 1969. Standard Chartered gained mileage over its competitors by innovating concept in the credit card history of India ( photo card, member get member scheme) No aggressive advertisement credit card facilities are not as good as other private banks.
Copyright:
Attribution Non-Commercial (BY-NC)
Verfügbare Formate
Als PPT, PDF, TXT herunterladen oder online auf Scribd lesen
ARTEE ADVANI (6703) SAEEDA WAZIR ALI (5864) GULZAR AHMED (7557) NARESH (6712) INTRODUCTION: • Bank card industry is relatively a new business • Bank card history began when individual retail merchants extended credit to their customers • The name is derived from standard& chartered, standard bank of British south Africa merged with chartered bank of India, Australia and china in 1969. • Standard Chartered Bank is a British bank headquartered in London with operations in more than seventy countries It has network of over 1,700 branches and outlets focuses on consumer, corporate, and institutional banking, and on the provision of treasury services Standard Chartered Bank has been actively engaged in acquisitions and expansion The Standard Chartered Credit Cards come with varied categories and each category has some attractive features Standard chartered was the first issues a global card in India, i.e. photo card STRENGTHS:
Strong Brand name- worldwide presence.
Standard Chartered carried regular marketing research. Strategic management of Standard Chartered bank was great motivator of employees. Standard Chartered gained mileage over its competitors by innovating concept in the credit card history of India ( photo card, member get member scheme) They launch their product at the right time (cricket credit card in world cup 1996) They did aggressive marketing in terms of sales promotion and direct sales. More focus on technology and telecommunication (ATM Network, APS, Quality System) Standard Chartered has been able to sustain its legacy of being hailed as a trusted provider of credit services to the modern-day customers Highly trained and motivated sales force Standard chartered is growing at the rate of 37% which is higher than the market rate of 33% Biggest acquirer of Asian banking assets WEAKNESS
SCB charges higher exchange rates and other hidden
charges those are unknown to the customer. No focus on upper class urban population. Bank has offices only in ten major cities in populous country like India.(Not many branch networks) No aggressive advertisement Credit card facilities are not as good as other private banks. OPPORTUNITIES:
There are a large number of potential customers for credit
cards; hence the market growth is expected to increase. It recorded a growth of about 33% in March 2003
There is established infrastructure in the market.
Laws regarding credit card are not that strict to expand
business THREATS:
Credit card business is essentially a volume driven
businesses with marginal returns The returns on investments take long periods and so the risk involved is also greater. A critical number is required to make the business profitable for issuers. Acquisition of new customers and retention of existing customer The market was already dominated by an early entrant – Citibank. Their competitors include Cancard, HSBC The threat of new entrants – sales force W2: offices only in Ten cities S2: Brand image in market W3: Less focus on advertising S3: Focus on technology and W4: Credit card facilities are not as good as other private innovations banks S4: Customer service
OPPORTUNITIES (O): SO STRATEGIES: WO STRATEGIES:
O1: Market growth Use S2, S4 & S1 to capture O1,O2 Overcome W2 to exploit O1. O2: Govt: laws regarding credit & O3. •Standard Chartered should increase its offices in card business are not strict •It should focus on market most cities of India to capture the market share. O3: Established infrastructure capitalisation by providing quality service to their Overcome W1 to exploit O1 customers through their •It should also focus on upper class urban population motivated sales force. Market to have more market share. expansion can also be supported by lenient Govt: laws and established infrastructure.
THREATS (T): ST STRATEGIES: WT STRATEGIES:
T1: Competition by CITI Bank Use S3 to minimise T1 & T3: Overcome W3 to cope with T3 and HSBC •Highly focus on technology •SCB can acquire prospective customers by T2: Threat of new entrants in order to come up with identifying and stimulating the hidden needs of T3: acquisition and retention of more innovative products can customers through more focus on advertisement. customers. lead them from their competitors. Overcome W4 to cope with T1 & T3: •SCB should offer a wide range of Credit card to Use S4 to minimize T3: acquire and retain customers than their competitors. •It should give priority to quality customer service to acquire new customers and retain existing ones.