Phân tích SWOT và chiến lược marketing sản phẩm thẻ của ngân hàng phương nam e

The article is divided into four parts:  Part 1: GENERAL INTRODUCTION  Part 2: SOWT ANALYSIS AND APPLYING SOWT TO ANALYSE SOUTHERN BANK DEBIT MASTER CARD  Part 3: STRATEGIC MARKETING

Phân tích SWOT và chiến lược Marketing sản phẩm thẻ của ngân

hàng Phương Nam -

INTRODUCTION

Regional and international economic integration is inevitable trends of Vietnam, joining the WTO has been opened up for Vietnam's economy in general and the banking industry in particular opportunities and challenges Along with the trend of integration over the past year, in Vietnam, the bank card services’ bỉrth and development have to meet partialy payment needs in general and electronic payments in particular, facilitating in the promotion of the commercial activities of enterprises at home and abroad

The faciliyies of bank card activity brings is great: fast, convenient, accurate and safe Therefore, the bank card has developed very quickly; especially in recent years, in Vietnam, the growth of development of card market has reached record levels, as of 30/6/2011, that number was up to nearly 36 million cards, folded 7 times higher than in 2006 (Ms Nguyen Thu Ha, Chairman of the bank card) This proves that the Vietnamese people are gradually accepted with this modern means of payment and make sure this market in the coming years will be the potential card market for banks in Vietnam However, actual implementation of activities have encountered not

a few difficulties, it may be due to the habit of using the cash of the Vietnamese people, it also may be that the Bank has not had a reasonable strategy to develop this service… For this reason, I choose Southernbank international Debit Mastercard (Southernbank Debit Mastercard) of my

Southern Join Stock commercial Bank (Southern Bank) – as my research for this topic The article is divided into four parts:

 Part 1: GENERAL INTRODUCTION

 Part 2: SOWT ANALYSIS AND APPLYING SOWT TO ANALYSE SOUTHERN BANK DEBIT MASTER CARD

 Part 3: STRATEGIC MARKETING OF SOUTHERN BANK FOR SOUTHERNBANK DEBIT MASTERCARD CARD

 Part 4: CONCLUSION

I.1 General Information on Southern Bank

Southern Bank based in 279 Ly Thuong Kiet - District 3 - Ho Chi Minh City, was founded in 1993 with initial capital of 10 billion Up to now, Southern Bank became a joint stock commercial bank developing strongly, sustainably and create the trust of customers Charter capital of Southern Bank is currently the 3,212.479 billion Vietnam dong, network activity 137 branches, offices and subsidiaries across the country The total assets of the Bank has reached more than 72,159,068 billion Vietnam dong

The total number of professional staff of the southern bank is 2000 Officers have undergraduate and postgraduate constitute 93%, regularly trained professional in your own training centre in South Bank

Products and services of Southernbank are quite varied and caters for all needs and always upgrade the products and services of quality in order to deliver to customers the best facilities:

- Personal customer service: (product loans, savings, account payment, money transfer service);

- Enterprise: customer service (the service guarantee, money transfer, payment of deposit, loan products, international payments);

- High-tech products including the 3 services: Phone Banking, Internet Banking, Mobile Banking;

- Buying and selling gold and Forex trading;

- Other services (rental, ATM cards, iron drawer pay services, services Western Union)

1.2 Introduction on The Card Center of Southern Bank (CCSB)

The CCSB is a newly born division, establish in 2004 However, the CCSB provided products, services card meet the demand of the trend of the market and the world

In particular, recent years, the Southern Bank has released many cards catering to demand of payment of the customers such as: local debit cards; international prepaid cards Southerbank Prepaid MasterCard and Southerbank Debit MasterCard

Although, Southern Bank released many strong card products But, to

be sustainable development and to promote its core strengths, Southern Bank has identified Southernbank International Debit MasterCard as the core product in development strategies for payment card market

Southernbank Debit MasterCard cards is a product of perfect combination of two features: (i) global payment and (ii) using the account

balance on the same product Therefore, the customer is fully active and manage their spending

Southernbank Debit MasterCard as means of payment replacing cash, appropriate for the customer’s shopping, travel, work and study abroad without carrying cash Besides, Southernbank Debit MasterCard also gives clients with the utility as follow:

- Payment of goods/services at more than thirty (30) million points of MasterCard (POS) such as: supermarkets, shops,

restaurants, hotels, Airlines Agents, resorts, hospitals, clubs in Vietnam and more than 220 countries around the world;

- Easy payment when shopping on internet;

- Withdraw money at more than 13,000 ATM simple in Vietnam and millions of ATM logos MasterCard worldwide;

- Money in the account card to enjoy preferential interest of Southern Bank

II SOWT ANALYSIS AND APPLYING SOWT TO ANALYSE SOUTHERN BANK DEBIT MASTER CARD

2.1 What is SWOT?

SWOT analysis (also called the SWOT matrix) is a method of analyzing the strengths, weaknesses, opportunity and threats – Wikipedia, in which:

- Strengths: What are advantages of the business? Any resource that is

the strength of the businesses? The advantages are usually formed when compared to competitors;

- Weaknesses: What are weaknesses of the busines? It is necessary to

consider the weak points of the business on the basis of inside and outside;

- Opportunities: Basing on the strengths of the businesses seeking out

what are business opportunities? Opportunities in the growing trend of the market at present and the future;

- Threats: What are challengesthat businesses facing to? The risk from

the competition and alternative products What is risk of technological change?

2.2 Analysis on Southern Bank DebitMaster Card

Application of SWOT model analysis will help the Southern Bank to review intrinsic elements of Southern Bank DebitMaster Card, include:

strengths, weaknesses of that Besides, SOWT analysis also indicates

opportunity as well as challenges that Southern Bank Card DebitMaster

Card are having to put out marketing strategy suited to the Southern Bank

Card DebitMaster Card products

- To be a member of the Master Card

- To be a member of the payment network

of Banknet and Smartlink

- Global payment and use the account

balance on the same products helping

customers with fully active and manage

your spending

- Strategic shareholder is UOB Bank of

Singapor (count for 23% of shareholder)

- Southern Bank is a rather new brand

on the market of banking and finance

- Market segmentation is still limited (mainly forcus on the market of Ho Chi Minh City and the Western Provinces)

- The value – added services of Southern Bank Card DebitMaster Card is limited

- Financial resources and personnel for Southern Bank Card DebitMaster Card still not invested adequately

- As members of the Master Card Union;

Banknet payment and Smartlink will

create opportunities for development and

serve customers worldwide

- Suffer from the big competition from rivals those have strong brands and much experience as: VCB Debit MasterCard; Sacombank Debit MasterCard…

- Reinforce the confidence of customers

that help to promote Southern Bank

brand

- Southern Bank will approach the high

level of management expertise, finance

resources and modern technology to

develop Southern Bank DebitMaster

Card

- Developing value-added services from the

Southern Bank DebitMaster Card such as

money transfer for study abroad; currency

converter

- Subject to competition from substitute products like: overdraft cards; Vista

- Not meet the variaties of customers’ demands

- Risk of losing experienced personnel

III MARKETING STRETEGY OF SOUTHERN BANK FOR

SOUTHERNBANK DEBIT MASTERCARD.

3.1 Potential of Vietnam Bank Card market and Target Customers

3.1.1 Potential of Vietnam Bank Card market

In Vietnam, the pressure of compettition to provide banking services

and the rapid development of information technology, 2010 was the year of

"boomming" of banking retail services According to the research results of

the market of an American firm Research & Market, the Vietnam card

market is evaluated as a leading dynamic market, with the growth of about

18.5% from now to 2014 The number of payment card has increased doubly

from 2008 equal to 14.7 million cards up 33 million cards in 2011, more

than 12,000 automatic teller machine (ATM) and 50,000 points accept

payment by card (POS), in which more than 20 banks deploying Internet Banking, and 8 Banks implimenting Mobile banking at the various levels (according to statistics of the State Bank as of September2011)

According to Ms Karolyn Seet, analysis expert of the credit rating Moody's, the credit market retail has much potential to exploit, and the growth of retail banks is expected to reach 30-40%

3.2.2 Target Customers

There is an increasing in potential economic market in general and card market in particular and therefore needs of customers also increasingly diversely To be able to offer their card products to customers on a more diversity, Southern Bank should focus on expanding its target customer For Southern Bank DebitMaster Card, Southern Bank has identified the following target groups of customers:

- The target groups of customers are foreign company, overseas

business;

- The group of individual clients are foreigners;

- High-income domestic customer groups;

- Group of students that are studying abroad

3.2.3 Marketing Mix – Promotions Stretegy for Southern Bank DebitMaster Card

With potential market growth can be reached 30-40% in the coming years, according to Ms Karolyn See The opportunity to develop the market for Southern Bank DebitMaster Card is very potential SOWT analysis shows that Southern Bank had strengths to be a member of the Alliance of

International Cards, such as Master; Banknet payment, Smartlink and its shareholders, the UOB Bank Singapor has potential of capital and technology However, due to particularity is that Southern Bank is a fairly new brand in the market of bank, therefor Southern Bank DebitMaster Card encountered many difficulties and challenges at present as: limitation of market segmentation; suffer from strong competition from rivals that have strong brands and be experienced as: VCB Debit MasterCard; Sacombank Debit MasterCard To enhance trade promotion strategies (promotions) in the marketing mix will help Southern Bank overcome weaknesses and limit challenges are posed for the Bank

Trade promotion/sales support (Promotions): trade promotion/sales support is all activities aimed at ensuring that customers get to know about the Southern Bank DebitMaster Card of Southern Bank, to have a good impression on the card and use the service of the Southern Bank for long-term

Due to the Southern Bank is also fairly new brand on the bank and financ market, especially in the North Therefore, tied to trade promotion strategies - Promotions of the Southern Bank is a effective communication stretegy -Communication

To implement the strategy of trade promotion (promotions) for the South Bank DebitMaster Card, South Bank need to focus on doing well the work of communications to promote brands and products to pull customers

on its products, specifically include the following activities:

- Its is need for Southern Bank to invest for advertising, public relations, namely: advertising on television, radio, newspapers, the bulletin on Southern Bank DebitMaster Card to its target customers

- Funding for the television and radio channels are public track, especially the target clients, funding for programs for friendly clients

- The communication of Southern Bank must ensure interaction, two-way communication between Bank with its customers Banks listening to aspirations and needs of the customers and "tell" to the customer is that the product will satisfy the mind, aspirations Which, then Bank will achieve thoroughly understanding and deeply feeling from the customer for the product and the brand of the Bank

IV CONCLUSION

To create a place in our customers should

have a marketing strategyand product development in the long

term Analysis on the result hasseen the advantages and disadvantages

of Southern Bank Debit MasterCard Hopefully Bank Board will choose

a path for card product

1.http://nif.mof.gov.vn/portal/pls/portal/SHARED_APP.UTILS.print_preview? p_page_url=http%3A%2F%2Fnif.mof.gov.vn%2Fportal%2Fpage%2Fportal

%2Fnif

%2FNewdetail&p_itemid=57503926&p_siteid=293&p_persid=42972397&p_lang uage=vi

2.http://www.Wikipedia.com

3.Marketing Principles- Philip Kotler- 1996