The paper "Strategic Marketing Plan for ANZ Banking" is an outstanding example of a marketing case study. ANZ is currently undertaking a survey as the main market researching method to collect data related to the following questionnaire: Which are the most frequent ANZ financial services you have used over the past six months? Were these services helpful to you as an individual or to your business? How many ANZ branches do you know of within your country? Do you find ANZ’ s online platforms useful or appropriate? Do you use other banks’ financial services alongside ANZ’ s? How do you find ANZ’ s employees regarding their service delivery? Do you think ANZ is the best bank among other foreign banks in your region? Does ANZ assist you to achieve your goals? Which feature about ANZ influenced your relationship with the bank? Male/Female Age: 18-24, 25-35, 36-45, 46 and above. The above questionnaire was administered to a small group of 40 customers from a sample of ANZ’ s branches in China and Nepal, and they revealed that: The most frequently used ANZ service is the credit card facility (48%).
However, a substantial number have also used the FX online service to transact its foreign exchange business.
36% of them were confident that these services had helped them achieve their financial targets, while 28% confirmed that ANZ’ s services had helped to promote their business transactions, especially the Trade Finance Help Desk. The majority of them (65%) recognized at least five ANZ branches within their state, 18% recognized at least three branches, while 17% recognized only two branches which were around their town of residence. Most of the respondents accepted the fact that ANZ’ s online platforms have far-reaching benefits to the way they conduct their business.
70% of the respondents cited FX Online as the most popular online platform. Only 6% of those interviewed, acknowledged being using financial services from other banks alongside their relationship with ANZ. 56% described ANZ’ s employees as welcoming and competent, and that they were satisfied with ANZ’ s service delivery. However, 32% had some suggestions on a few areas of service delivery that need to be corrected. A majority of the people, (85%), feel that ANZ is so far the best financial firm in the region. 52% of those who answered believe that the financial assistance they obtained from ANZ contributed to their success, especially in conducting international trade.
ANZ’ s new brand of a simple bank and the new logo were cited as the major influencing factors that have strengthened the customers’ affinity towards the bank. Among those surveyed, 70% were male, and 30% were female, with the majority (52%) aged between 25-35 years. This survey should be conducted at least every eight months as the company goes around promoting this plan, and reach at least 4000 respondents from cities in both countries. 5.2 Sales Analysis ANZ has the prospect of becoming bigger and bigger in the Asian continent as more foreign banks are penetrating the region as niche players.
Foreign banks have a minor impact in the Chinese economy as compared to Nepal (Richard, & Heather, 2013 p. 677). Nevertheless, ANZ is currently the second-largest foreign bank commanding 10% of the Chinese market. With the aggressive advertisement being carried out to campaign for this plan through television, there is a potential for growth of financial services in the Asian region by 20% within the next ten years.
The firm’ s sales are anticipated to grow by a margin of 6% from 2017-2021 since these two economies are recovering from the recent financial crisis. Through mergers and acquisitions, the expansion plans in these two states can increase ANZ’ s market share by a significant margin.
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