Broomhill Marketing Services

1488 Words6 Pages
1)what are the main marketing problems facing Broomhill bank? List the problems in order of priority and elaborate your reasons for this ranking. Broomhill bank was clearly facing many marketing problems that were being projected in their falling profits. There was a large discrepancy between what the customer was now expecting and demanding in the fiercely competitive market sector, and what Broomhill bank was delivering. When the bank managing director, Mr. Bathurst, said “we do not even know who our customers are” it was a red light. In addition, the bank had a “nebulous image”. Many people had been confused as to what Broomhill was offering. As well as this confused image relative to functional activities, within the banking fraternity as a whole, the Broomhill stand was at the lower end of the banking spectrum. The following problems are the marketing problems in order of priority that put Broomhill in its compromising position: 1)Broomhill bank was not necessarily offering what the customer wanted. There was a huge focus on being “the bank that cares”; nonetheless, financial services were not up to standard. The bank relied heavily on its customer service because “it basically had no different services to sell than the other competing banks”. This could be attributed to gap 1, where management does not understand what the customer wants and they do what they think the customer wants. The customers are not being serviced and it could be that the company is providing wrong allocation of resources. Correspondingly,a customer gap is created. In table 2.1 we can see customers are satisfied with friendly helpful service; however financial advice received the lowest percentage of approval at 3% which is low for a financial service. In addition, the bank management was anxious to provide all possible services for customers instead of perhaps focusing on the most

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