HSBC Bank - Sample Essay
Barclays Bank promotes their financial products and services, in different types of magazines. For example, if the business wants to encourage customers to join their car insurance service, they would advertise it in car magazines such as, Autotrader According to Banning (1995), point-of-sale is, ‘anything which influences the consumer at the point where the consumer, the product, and the dollars come together’. Examples of point-of-sale materials include brochures, leaflets, and shop window displays
The reason why HSBC Bank produces point-of-sale materials is that, they use them in their branches (see HSBC letter) Barclays Bank advertises their financial products and services at cinemas before, a film commences The Bank does number of outdoor advertising such as, displaying posters in bus stands and in train stations Barclays promotes their products and services to customers who want to work in a bank. The bank provides useful information and allows applicants to work for them. The bank provides training to applicants, too.
The bank can encourage their new training staff to join their bank (if not an existing customer) and use their financial products and services The HSBC Bank can promote their business through schools and colleges. Small branches are set up in schools and colleges by the bank, for students to bank with them at dinner times. This allows the bank to promote its products and services to students (if not an existing customer) in school times. The bank would use posters and leaflet as useful advertising medias for targeting students at schools and colleges.
The financial bank promotes their business when, they do charity work. The bank has done number of charities, e. g. the Tsunami. Doing charity work helps the bank to gain company recognition. The Bank does a lot of sales promotions, particularly giving away free-gifts to those who join one of their services. For example, if a student opens a Student Account, he/she would receive a free mp3 player or 12 latest music CDs. I am going to explain the advantages and disadvantages of each of the promotional techniques that I have mentioned in the table (see above).
Magazines The advantages of using magazines as an advertising media are: large circulations; high pass-on readership; high quality reproduction and colour; relatively long life; read in leisurely fashion; well segmented audience; potential for high information content; and allows for sales promotion inserts. The disadvantages of using magazines as an advertising media are: expensive; distant copy dates; clutter; and advertisements featured by competitors. Cinema
The advantages of advertising at cinema are: large screen visual impact with high creative impact of colour and sound; mass market; and frequent exposure. The disadvantages of advertising at cinema are: fleeting message; high production costs; and difficult to establish audience profile. Point-of-sale The advantages of using point-of-sale materials as an advertising media are: relatively cheap; good method of reinforcing the advertising message; and can act as an incentive for traders to stock product.
The main disadvantage of using point-of-sale materials as an advertising media is, it only reaches those customers already likely to buy. Outdoor advertising The advantages of outdoor advertising are: high impact with colour and size variations; relatively cheap; long life span; high coverage of selected area; and good in reminder advertising.
The disadvantages of outdoor advertising are: short exposure time; limited message; unsuitable for unknown or complicated products; requires large scale distribution; and defacement (e. g. weather, vandals). Posters The advantages of using posters as an advertising media are: high impact with colour and size variations; relatively cheap; long life span; high coverage of selected area; and good in reminder advertising. The disadvantages of using posters and billboards as an advertising media are: short exposure time; limited message; unsuitable for unknown or complicated products; requires large scale distribution; and defacement (e. g. weather, vandals).
The advantages of sales promotions are: flexible timing; ability to get quick feedback; efficiency; and can encourage quick increases in sales by targeting promotional incentives on particular products. The disadvantages of sales promotions are: many sales promotions only provide short-term benefits; ineffective in building long-term loyalty for the destination; often misused by tourism and hospitality organisations (e. g. coupons); and too much promotion may damage the brand image.