HSBC客户分析
The aim of this report is to analyze the segmentation
strategy of Hong Kong and
Shanghai Banking Corporation Limited (HSBC). From this report
analysis, on the one hand, readers can learn about HSBC’s
segmentation, targeting and
on the other
hand, how HSBC has designed its extended marketing mix will be
analyzed and customers will be in depth understanding of the bank's
marketing strategy. Then this report
gives some suggestions on how to improve HSBC’s
marketing mix.
Hong Kong and Shanghai Banking Corporation Limited
referred to as ‘HSBC’ want to provide customers better services. This report
will conduct the analysis of segmentation strategy of HSBC
including two main parts. First, this report evaluates HSBC’s
segmentation, targeting and positioning strategy and recommends
ways in which it could be improved. In the second parts, this
report analyses how HSBC has designed its extended marketing mix to
meet the needs of one of its key customer segments from 7P
marketing mix.
Market segmentation refers to different customer
groups the bank will prepare the product or service to meet their
needs. The bank will profit from providing service to meet their
needs. Since its establishment, HSBC is committed to
its customer service (Auh, 2007). HSBC according to the
customer general value divides customers into large,
medium, small, inactive, suspicious, and possible
customers.
The large customers can be referred as HSBC premier
(HP) who are most profitable, desire for multiple products and
services with a large volume of transactions, and often use bank
services and products and so on (Benoit and Poel-Dirk, 2005).
The medium customers referred as power Vatage (PVA)
are great value customer group. They use multiple product packages
or single product, and have smaller turnover and medium frequency
of banking services (Demirg&&-Kunt and Huizinga, 2010).
The small customers are common customers.
And they are the foundational
customers such as the elderly or children, have small turnover, and
low frequency of banking services or products.
Inactive customers are referred to dormant or
unidentified customers. They are previously active (Ennew and Waite, 2007).
Suspicious customers who had opened accounts in HSBC
or using the products or service. They are potential customers.
Possible customers are not the HSBC customers. They did not open accounts in HSBC and used HSBC’s
service (Farley, Hayes and Kopalle, 2004).
HSBC mainly provides personal banking, premier,
business and commercial, global banking and markets, private
banking. Overall, the HSBC group's core business is domestic
commercial banks and financial services.
Personal banking aims to do ‘local knowledge,
worldwide expertise’. It business include Personal Loans, Credit Cards,
Homebuying, Saving & Investing, Retirement planning
and Insurance (Gupta, Czernik and Sharma, 2010).
HSBC premier is not only providing service for
customers but for their family. HSBC provide globally-linked up service. HSBC provide premier
family with such service as Children’s Online Savings
Account, Family Financial Planning and Global Safety Net (Haselmann, 2006).
Business and commercial services are provided for over
3.2 million businesses worldwide to build, develop and grow through
a wide range of commercially specific services and products. HSBC
have an extensive range of products and services including
Receivables Finance, Business Insurance, Trade and Supply Chain,
Business Accounts, Foreign Exchange and Business Direct.
HSBC Global Banking and Markets is an emerging
business led by markets and focused on financing that provide
government, corporate and institutional clients around the world
with tailored financial solutions. Its businesses include Global
Banking, Global Markets, Global Assets Management, Global
Research, and Principal Investments (Hinde, 2004).
HSBC Private Bank provides banking, investments, and
fiduciary services to high value clients through 91 offices
worldwide. HSBC Private Bank offer tailored advices and wealth
management services and link customer’s wealth to the
targeting and positioning strategy
The banking market positioning refers to the banks
based on the location of capital strength and services, having
regard to the existing customers demand characteristics, develop
the bank's financial products and services representing its image
to show distinct personality to customers, so as to establish its
place in the target market (Alessandrini, Calcagnini and Zazzaro,
HSBC is positioned in most branches, most powerful and
largest local bank and self & centered. From customer segmentation and business segmentation,
it can be seen that HSBC adopts the differential targeting and positioning
strategy (Leek, Turnbull and Naud&, 2004).
In the target market strategy aspect, HSBC mainly uses
hierarchical strategy to increase the customer base and revenue.
Also, it expects to attract customers through personal banking
services and at to actively absorb the high level customers the
same time.
HSBC is an international financial institution. It can
be said that it has prominent position in the financial sector.
Although it is not a major bank in other areas, however, as the
group has a global management, and has strong robust strength in
the banking industry, so it still plays a supporting and promoting
role in financial development. Furthermore, the group itself is a
large listed financial institution and has a good financial
situation (Mizuno, 2004). So, it has established customers’ confidence in
HSBC. Therefore, the banks use these advantages to attract high
level depositors. As based Hong Kong bank, the general fees and
business strategy are developed according to the living index of
Hong Kong, so it may not meet the conditions of the rest of the
world (Palmatier, 2007). At the same time, HSBC mainly focuses on corporate
clients, businesses and high level individual customers.
Although HSBC has achieved good results, but still not
seize the heart of the customers. The pressures from competitors
are still very great.
From market segmentation
perspective, HSBC according to the customer general value
divides customers
into large, medium, small, inactive, suspicious, and possible
customers.
It is clear HSBC’s partition is not the best only
based on the customer group’s general value. Most importantly, the core of market segmentation is the difference between
consumption demands.& The key of market
segmentation is to do effective division based on certain
standards (Raju and Lonial, 2002). Thus, HSBC should adopt multiple division standards
to better meet the needs of different clients. According to the
geographical factors, customers can be divided into cities, towns
and villages or developed area and backward areas. Then according
to two different types of customer and different demands, HSBC need
work out better services and commodities to meet their
HSBC still can conduct customer segmentation by age and
occupation (Rand&y, Oxelheim and Stonehill, 2001). And in this way it will be possible to better
understand needs of the different age groups and different
professional people.
The HSBC’s enterprise customers can be divided by
industry life cycle including new industry, maturity and recession
accordingly, HSBC formulate different strategies based on
enterprises different stages. In accordance with business relationship customers can
be divided into old customers, new customers and loyal
customers. According to the scale the enterprises are divided
into small - scale enterprises, medium - sized enterprises and
large enterprises, and then HSBC provide services in line with the
needs of different scale enterprises (Rees, 2004). In short, HSBC can carry out market segmentation in
accordance with different standards. The same client can belong to
different customer groups so that can make more scientific
strategies to meet the needs of customers.
From business segmentation perspective, the HSBC
group's core business is domestic commercial banks and financial
services. HSBC provides high - end products and services that
are not in line with the requirements of the general customer's and
small - sized enterprises (Rosier, Morgan and Cadogan, 2010). Therefore, HSBC’s products should be more popular thus
can better attract the general public.
From HSBC’s
targeting and positioning strategy perspective,
HSBC adopts the differential targeting and positioning
strategy. HSBC hopes to have the largest number of branches,
which is obviously not able to attract more customers.
Thus, to attract most general people HSBC’s idea have to be
changed. And the image of the self - centered of HSBC has seriously
affected the number of its customers and service
quality (Wright and Donaldson, 2002), therefore, HSBC need to change its image
position. HSBC need focus on taking customers as the center, and
pay attention on customer experience to raise the value of the
bank. With increasingly fierce competition in the banking
sector, all major banks pay more attention to customer experience
in order to cultivate lifelong customers. In addition, HSBC should adopt the
integration of centralized marketing strategy and
differential targeting strategy to provide
quality services and multi - level
products (Wright and Donaldson, 2002).
this is also the reason why it cannot attract a large
number of middle and lower income customers.
Therefore, if the HSBC want to keep strong
competition, it needs more consideration on the needs of small and
medium - sized income people (Brooksbank, et al., 2003).
Banks provide a range of financial services, some
specific properties make it different from tangible products, and
thus service marketing is more complicated than tangible products
marketing. 7P marketing mix theory has been widely applied to all walks of
industries in marketing strategy. 7P refers to Product,
Price, Place, Promotion, People, Process and Physical Evidence (Rosier, Morgan and Cadogan, 2010). The banking industry belongs to the service
industry. Then this report will take HSBC premier as example to
analyze the
extended marketing mix of HSBC.
Service product must consider the scope of the
service, service quality and service standards, and also note brand
name, guarantee and after-sales service. Therefore, in order to
meet the needs of HSBC premier customers, HSBC
constantly carry out products and services
innovation (Brooksbank, et al., 2003). HSBC premier requires professional and global banking services,
tailored and one - to - one service, wide coverage of products and
services, with continuous services and so on. So for HSBC premier,
HSBC focus on building a world - class financial services, global
investment opportunities, global recognition and
profitability (Yoo, Donthu and Lee, 2000). In addition, HSBC Provide premier family services such
as Children’s Online Savings Account, Family Financial Planning.
Price factors need to be considered include the price
level, discount and commission, payment and credit. The price is a
kind of identification method to distinguish the differences
between services. Customers can feel its value from the service
price level. Relationship between price and quality is an important
consideration in pricing. HSBC has also adopted flexible interest rates to meet
HSBC premier customers, and they can often enjoy preferential
interest rates and low transaction costs and service fees
privileges (Yoo, Donthu and Lee, 2000). Compared to other customers, HSBC will provide more concessions to HP Customer so
as to meet their special needs.
Location of the service providers and geographical
accessibility are important factors in service marketing.
Geographical accessibility not only refers to objects, but also the
transmission and other contact forms. HSBC actively expand the
space of branches in the provision of customer services to make
customers more comfortable and satisfied (Saini and Krush, 2008). Therefore, in order to meet the needs of
HSBC premier, HP can enjoy a unique personalized
service in HSBC Premier Center. HP Center is well decorated, and strives to create a
relaxed and comfortable, friendly, and HP
Customer has a right of priority queuing and allied counters in the
area having no HP Centre. In addition, HSBC also offer HP customers
Day & Night Centre, Internet banking and other
Promotion includes advertising, personal selling,
sales promotion or other publicity means, as well as some indirect
means of communication, such as public relations. To attract HP
Customer, HSBC often carry out promotional activities such as sales
promotion including offer gifts, coupons, and lucky draw and so
on (Wright and Donaldson, 2002); person selling will directly convey products to HP
customers who are very busy by sales men. In order to strengthen
communication with HP customers HSBC has taken a variety of
channels including advertising in national or local
newspaper, professional magazines, publications and bank annual
report, television and radio, publicity and sponsorship and so on. The HSBC has
adopted distributing publicity booklets, personal sales, direct
mail and regional exhibitions to enhance exchanges with HP
customers (Li, Oberle and Dymski, 2009).
People plays an operational role in service
enterprises has become part of the service products in view of the
customer. Most of the service enterprises are characterized by
operators shoulder offering service performance and service sales.
Banking is highly HSBC must pay attention to the screening, employment,
training, motivation and control of personnel. Due to the complexity of HP Customer demand, service
personnel need have higher expertise to deal with complex
transactions and financial management (Raju and Lonial, 2002). Therefore, in order to better provide quality
services for HP Customer, service officers are all professional
trained, HP Customers are all equipped with personal accounts
manager to help them treat different problems. HSBC Premier Center
staff offer professional service for the HP Customer. Customer
relationship manager is in full and clear analysis of their total
assets to help them to plan and develop appropriate asset
management (Rand&y, Oxelheim and Stonehill, 2001).
Human behavior is very important in service
businesses, and that is, it is equally important to the process of
service delivery. Expressions of joy, focus and concern staff, can
reduce the sense of impatience of the customer must standing in
line and waiting for the service, or calm down the customer
complaint or discontent in technical problems. For banks, the quality of service of the staff is an
even more important. HP customers have HP center, not to mention, the
service employees are more enthusiasm and professional
(Li, Oberle and Dymski, 2009). Because these HP customers are the most valuable
customers, HP Customer can enjoy the quickest and the best quality
services to satisfy their psychological pleasure.
Physical Evidence
Invisible characteristics of the bank's financial
products make appearance of the service personnel, service
facilities and equipment, logo, visible elements become important
basis of consumers' recognition and evaluation on service quality
and bank image (Saini and Krush, 2008). And thus elements have a direct effect on consumers'
expectations and feelings of the service. HSBC increase the service space for customer in the
hall to provide larger and more comfortable space for guests, set
up Premier Centre for distinguished clients, and
HP Center is well decorated, and strives to create a
relaxed and comfortable, friendly, and
Day & Night
Centre is build for the convenient of HP customer. If the HP customers have no time going to bank, they
can through Internet Banking Services to handle some simple banking
service, so as to greatly saves customers time
(Mizuno, 2004). It can be said that when providing service to HP
Customer, HSBC master the important factor that offering optimum
Because of its consistent international strategy, HSBC
expands its businesses to all over the world through mergers and
acquisitions. On the one hand, it is able to maximize the
dispersion of the risks. On the other hand, its strategy enables it
to share the results of the steady economic growth of the other
areas. Through the analysis in this report, HSBC according to the
customer general value divides customers into large, medium, small,
inactive, suspicious, and possible customers, and it can be seen
that HSBC bank has far sighted strategic vision to grasp high level
customers. In addition, HSBC mainly provides personal banking, premier,
business and commercial, global banking and markets, private
banking. Overall, the HSBC group's core business is domestic
commercial banks and financial services. The high level customers of
HSBC have help this large international financial institution
maximize the spread of the financial risks and receive more
profits. But, through details analysis in this report we also find
that maybe HSBC can perform better if it continue to expand its
business to the middle level customers and pay more attention to
customer experience in order to cultivate lifelong customers. Then
this report is from 7P marketing mix theory to analyze the extended marketing mix of
HSBC taking HSBC premier as example. All in all, in order to
meet the different needs of HP Customer HSBC has been doing well
from 7P that are Product, Price, Place, Promotion, People, Process and Physical Evidence. To a certain extent, it can be said that it has
achieved the desired business results through its successful
strategies. This makes HSBC taste the sweetness of stable economy
development of different areas around the world. But HSBC has not
been engaging with customers as effectively as its competitors.
Thus it should take some ways to improve its segmentation strategy
considering the current marketing environment. That is said that
HSBC need adopt the differential targeting and positioning
strategy and different standards to distinguish customers so as to
better understand the different customer groups, and then offer
different services and products. As HSBC serve high - end products
and service, thus lead the loss of a large number of customers, so
HSBC's business strategy should be inclined to the general
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Hongkong and Shanghai Banking Corporation Group (HSBC)
headquartered in London, is one of the world's largest banking and
financial institutions. HSBC Group has about 9, 500 offices in 86
countries and regions. It has about 200,000 shareholders around the
world. HSBC hires about more than 232,000 employees. HSBC has more
than 110 million customers worldwide.
HSBC provides a wide range of banking and financial
services: personal financial services, industry and commerce
business and corporate banking, investment banking and capital
markets, private banks and other businesses.
Personal finance: HSBC provides as many as 120 million
individual customers with a comprehensive package of personal
financial services, including current and savings accounts,
mortgages, insurance, credit card loans, pension and
investment.
Industrial and commercial businesses: HSBC provides
financial services for small and medium - sized enterprises and
Middle Enterprise market.
Corporate banking, investment banking, capital market:
HSBC provides enterprises and financial institutions with designed
financial services, business filed include global capital markets,
global investment banking, corporate banking and financial
institutions business, and the World Bank.
Private banking: HSBC's private banking services
provide wealthy persons and their family with financial
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