The paper "Integrated Marketing Communication Campaign for Barclays" is a great example of a Marketing Case Study. The purpose of this integrated marketing communication campaign for Barclays Bank (Barclays) is to increase the level of positive brand attitude that current holders of personal current accounts in the United Kingdom have for the bank. Barclays has a long history of operations locally in the United Kingdom as well as globally. It offers its customers a wide range of banking and financial services. Its customers include individuals, small and medium-sized businesses and large corporations and institutions. The need to increase the level of positive attitude towards Barclays arises from the fact that many large banks faced a decline in their reputations following the global financial crisis of 2008-2009.
Additionally, Barclays, being one of the five largest banks in the United Kingdom, is facing competition from a number of smaller banks. Furthermore, since the attitude towards the brand is moderately positive, there is a need to increase this level of brand attitude. Integrated marketing communication will be used to communicate to the current holders of personal current accounts with the bank the message that the bank has both a heritage and a future.
To achieve this, two important tools will be used: advertising and product promotion. The slogan of the campaign will be as follows, “ Barclays; with you for centuries. ” Highly visual advertisements will be placed in a leading daily newspaper and a magazine. A loyalty program will be run to reward the most active account holders with cash deposits into their bank accounts. Lastly, the performance of the entire integrated marketing campaign will be determined by calculating the return on investment. Current Positioning Barclays Bank is one of the leading multinational banking corporations in the world.
Barclays International, its multinational arm, operates branches in over 50 countries across the world. Barclays UK, the local United Kingdom arm of the company operates 2,100 branches across different cities in the United Kingdom (Cisco Internet Business Solutions Group (Cisco IBSG) 2007, p. 1). Together with the banking multinationals such as Santander (the UK branch), HSBC, Royal Bank of Scotland (RBS) and Lloyds, Barclays Bank is one of the big five banking corporations in the United Kingdom in terms of market capitalization (KPMG 2015, p.
2). Also, it is the seventh-largest European bank in terms of market capitalization (Cisco IBSG) 2007, p. 1). The current positioning of Barclays Bank within the United Kingdom market can be understood in terms of how the company is using its resources and capabilities to develop a differential strategy. In general, the manner in which banks position themselves in the market and attempt to create competitive strategies is usually based on the strength of their brands, the size of their distribution, the product set that they offer to the market and the manner in which their corporate cultures are reflected in customer service (KPMG 2015, p.
3). The market positioning and differential advantages of Barclays Bank are analyzed using these factors as follows. First, Barclays Bank is an established brand in the United Kingdom because of its long history. According to Brand Finance (2015), the Barclays Bank brand is currently valued at $14,197 million and is one of the leading brands in the banking sector in the country.
There are several factors that have led to the development of a strong Barclays Bank brand. The first one is a rich heritage that is associated with the long history of the bank in the United Kingdom. The second one is its scale of operations that have made it largely visible in the market. The third one is that by offering a wide range of services over a long period of time and being distributed across the United Kingdom, the brand has won a considerable level of the trust of its clients.
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