PRODUCT

Heart of the firms marketing strategy Prepaid Card Real Time Balance Alerts Online Banking Optional Savings Account

PRICE
twin roles Five main factors that influence pricing decisions

PLACE
Delivering the product element to customers through appropriate methods and delivery channels Physical and electronic channels. New current account package readily available throughout HSBCs 1,492 branch network and also through the internet.

PROMOTION
Effective communications Three objectives of the promotion element Advertising, newspapers, magazines, outdoor advertising and the internet. First three weeks after the launch date Press releases, posters and brochures

PEOPLE
Nervous system of an organization Direct interaction between customers and bank employees. Special attention needs to be given to the training of employees concerning the new current account package.

PHYSICAL EVIDENCE
Physical evidence can be subsidized into two components Peripheral evidence Essential evidence Examples

PROCESS
Focuses on the mechanisms by which the service is delivered Policies and procedures are written and tested before the launch of the new current account package. Customer feedback and complaints should be welcomed