A part of group assessment in Strategic Marketing
Strategic Marketing for ANZ
Strategic Marketing for ANZ
ANZ is coming up with the most valuable and preferable financial institution in Asian Pacific scene. The strategy has elements such as domestic markets, profitable Asian growth and a wide enterprise sort of approach to technology and operation. The strategy here, is founded on the futuristic predictions of indigenous markets which is linked to the fast paced growth of the region based on means of resources’ flow and trade. The market requires a bank that can increasingly meet the financial needs. ANZ is focused according to the organic growth opportunities within the Asia Pacific scene and the footprint aims strengthening the company’s position to meet various customer needs dependent on the economic zone’s trade structure.
The growth aspiration is to realize 25% to 30% of net margins from the economic zone, inclusive of America and Europe by the year 2017 (Australian and New Zealand Banking Group, 2014 p.1). The corporation is building stronger positions in their home markets in New Zealand and Australia which is led by the market share gains and productivity. This concerns the retail and commercial as well as increased utilization of wealth products across the customer base. As such, the operations and technology front is helping the corporation to build up economies of scale and increase their market space, to strengthen the operations and risk control environment for the enterprise. The regional delivery centers of ANZ are provided comprehensive support services in the business areas to assist in driving the lower unit costs. ANZ will focus on strengthening the depth of management and alignment between the operations, businesses and technology as well to realize further improvement on net margins
On the internal scene there are more than 1300 properties across the Asia Pacific and there are a number of financial and banking products and services for the sake of a 10 million client market. The company has embarked on a process of increasing understanding and awareness of the policy developments and risks to climate in the relevant business units through ongoing dialogue with clients. The company has a clear framework for management reputations. The reputation risk policy assists the employees to identify day to day problems which can negatively impact the reputation of the corporation. The policy highlights the decisions which are significant to the reputation of the ANZ, including design or approval of a product and lending money to a new client.
External environment is an environment that entails external factors outside the corporation which would affect the internal operations of the company. ANZ is considered as among one of the highest ranking on worker requirements, but there are external factors such as high salaries and more benefits to workers that would attract the employees to these amenities. The external environment does not only relate to the employees, but it also concerns the service delivery department on objectives. The corporation needs the employees for a various roles but it can be restricted by the internal and external sceneries. Apparently, the corporation has invested in various sectors of the economy and set up hubs in different global locations with certain segments. This requirement is implied by the external factors which can then increase the effects of growth within the ANZ.
SWOT analysis ANZ Financial Services
The company has a diversified product setup portfolio reducing the business risks for the ANZ financial services.
The organization also has a wide customer and employee base with over 9000 workers.
The company offers financial services with the inclusion of asset financial payment solutions and banking services (Daft & Samson, 2015 p.282).
It has strong financial muscle which gives resilience to the adverse developments of the market.
The visibility of the market is limited compared to other banking institutions.
It is not competitive enough to outwit existing market players making it hard to increase grow the market space.
It was the first financial institution in Australia licensed to operate in retail business in Yuan which yields the Chinese market in a better way than other institutions.
There is a big opportunity to expand within the Asian markets including India and China.
The economy is steadily declining and the instability could lead to a recession or depression depending on the scenario on the global scene, which could affect the institution’s revenue and market shares.
There are changes in the Australian banking system that could alter its operations.
The increase in competition from the global financial institutions from America and Europe.
Australian and New Zealand Banking Group. ANZ Annual Report 2014. 2014. Retrieved online
Daft, Richard., Samson, Danny. Fundamentals of Management: Asia Pacific Edition PDF.
Victoria: Cengage Learning Australia, 2015. p.282