Review of Banking Web Sites - Example

The paper "Review of Banking Web Sites " is a perfect example of a marketing report. Marketing involves planning and execution of a concept which encompasses its pricing, promotion and distribution, be it of a notion, goods or services. The purpose is to create an exchange that is mutually satisfactory to both the buyer and seller. This requires that the latter should be consumer-oriented and attempt to comprehend the needs of consumers. However, they cannot stop there but must also endeavour to satisfy these needs as promptly as may be managed with the maximum of efficiency. This can be done by gathering data on what needs drive the consumer and that is where marketing research comes in. As a tool to gather market intelligence, marketing research is instrumental in the improvement of managerial decision making by providing the raw material in terms of relevant, accurate and timely information. This could lead to the attainment of competitive advantage for the firm in question depending on how creatively they utilise this market information. The market research on its own does not guarantee success but must be partnered with intelligent utilisation of the same. The competitive edge stems from how this data is utilised rather than who exactly has it (Wilson et al, 2010).

Marketing research is not the go-to solution for every managerial problem and there are various factors that must be taken into account before one is carried out. These factors comprise relevance of the research to the problem at hand; type and nature of the information that is being sought; the timing of the research; what resources are available to carry it out; and last but not least, a Cost-Benefit Analysis. Once this is done, research may be carried out. The fact that the research has been carried out does not behove managers to utilise data collected from this exercise. The factors which influence utilisation of this data by managers include the quality of the research; whether or not it conforms to prior expectations; how clear the presentation is; how politically acceptable it is within the firm; and how it challenges the status quo (Nam Hai, 2003).

In order to have a basic marketing plan, it is necessary to pinpoint what the unit of sales is and the number of consumers one expects to have within three years. It is also necessary to evaluate the business by evaluating other similar enterprises in order to garner information on how the competition services its customers (Moiseenko, 2002).

With the increasing proliferation of the Internet and the globalisation of markets, ICT has become a vital part of any business activity. Most companies have put up Websites as an alternate means for consumers to access their products, enable them to access a wider market without the attendant operating costs, communicate with customers and provide e-services to their consumers. Banking houses are no exception to this trend. This trend of e-service, as well as its quality, is key issues in research. This is because there is a difference between it and traditional services which rely on a two-way flow of information between consumer and service provider. The quality of e-service is perceived as having the potential to bring about strategic advantage while augmenting operational efficiency and increasing profitability (Cronin, 2003; Zeithaml, 2000).