Contents
Introduction 1- Environmental Analysis of Bank Muscat 1
- Macro environmental analysis - PESTLE 1
- Political 1
- Economic 2
- Social 3
- Technological 3
- Legal 4
- Environmental 4
- Micro environmental Analysis - Porter's five forces 4
- Bargaining power of suppliers 5
- Bargaining power of buyers 5
- Threat of substitutes 5
- Threat of new entrants 6
- Degree of rivalry 6
- SWOT Analysis of Bank Muscat 6
- Strengths 6
- Weaknesses 7
- Opportunities 7
- Threats 7
- Market segmentation 8
- Market Plan 8
- Recommendations Using Marketing Mix 9
- Product 9
- Price 9
- Place 10
- Promotion 10
- Physical evidence 10
- People 10
- Process 11
- Evaluation and Control 11
- Budget 12
- References 13
Description
Effective marketing strategy is crucial to the success of an organization since it is through marketing that the companies will be able to achieve increased market share and market presence in order to increase the profitability of the organization (Perriault et al., 2013). Bank Muscat has been the leading consumer bank in Oman for decades now (Times of Oman, 2014). This report studies the internal and external environments in which bank Muscat operates. The report attempts to identify the target market segment for the bank. The report will then propose an effective marketing strategy for bank Muscat in order for it to continue retain its market leadership position.
