Contents

• 1. Introduction…………………………………………………………………….…….3
• 2. Literature Review…………………………………………………………………….4
• 3. Current Marketing Strategy at ING Direct…………………………………………..6
• 4. Alternative Marketing for ING Direct……………………………………………….7
• 5. Recommendations……………………………………………………………………9
• 6. Conclusion……………………………………………………………………………9
• 7. References……………………………………………………………..……………

Description

The report is an analysis of case study “focusing on multiple public”. Focusing on multiple publics is the marketing strategy adopted by ING Direct in Australia. The strategy followed by ING Direct in Australia strongly supports the fact that it gives fuller customer satisfaction in a highly competitive market place. The emerging and evolving trends of globalization and internationalization have given birth to multiple challenges to firms in 21st century. To stay competitive, companies need to modify their marketing strategies from time to time so as to achieve competitive advantage. The report is divided into different sections to analyze importance of innovation in marketing strategy which is critical in a highly competitive market. The section on marketing strategy is the essence to brand building in current market scenario which gives stiff competition to small sized firms like ING Direct in Australia. The introduction of the report is a brief on current background of the bank and marketing in which it operates. Top delve into the concept, it explains about current marketing technique practiced by the company. The scope of the report is to draw on the importance of marketing strategies in 21st century. The literature review section of the paper makes it clear that competitive marketing strategy is the corner stone to success for any organization. For a service industry, customer satisfaction is the primary goal; the next section of the paper defines alternative marketing strategy to be adopted by the company to stay competitive in Australian banking industry. Furthermore the alternative marketing strategy has been analyzed by examining its advantages and disadvantages which determines success of a company. In the age of IT, e-commerce is a competitive marketing strategy which offers complete customer satisfaction which will enhance profitability and increase sales. The next section on recommendations delves into the implementation stage of alternative strategy. It further explains on how to minimize disadvantages faced by e commerce business strategy which will enhance sales and revenue for the company. The paper closes with a conclusion which clarifies the fact that ING Direct in Australian banking industry needs to modify its marketing strategy from time to time for greater market penetration and enhance profitability in a highly competitive market place.