Smile SWOT Analysis, USP & Competitors

Posted in Banking & Financial Services, Total Reads: 376
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SWOT Analysis of Smile with USP, Competition, STP (Segmentation, Targeting, Positioning) - Marketing Analysis

Smile

Parent Company

The Co-operative Bank

Category

Financial Institution

Sector

Banking & Financial Services

Tagline/ Slogan

The Internet Bank

USP

Britain’s internet bank that offers financial products in retail banking and insurance

STP

Segment

Individuals, HNI’s and firms

Target Group

Individuals and HNI’s

Positioning

One of the growing banks of Britain that offers its customers financial products from retail banking through the way of internet.

SWOT Analysis

Strengths

1. Strong brand name associated with it
2. It is UK’s first full internet bank
3. Especially focused towards offering Retail banking products
4. The first online bank in UK to be recognized with ISO 27001, an Information security certification

5. Has received numerous awards for customer service and the highest satisfaction ratings among all the banks in UK, as per survey

Weaknesses

1. Limited to retail banking products compared to global banks
2. Fluctuations in net-income is an issue for the brand
3. A fall in the total assets owned by the bank was a concern

Opportunities

1. Can offer products from corporate banking, investment banking, wealth management, insurance and advisory services

2. Can expand to other countries

3. Tie-ups with other brands can help the brand increase operations

Threats

1. Macroeconomic conditions within the economy endangers the banking operations
2. Adherence to banking provisions and regulations circulated by the Bank of England

3. Increasing competition can reduce its market share

Competition

Competitors

1. HSBC
2. Llyods Banking Group
3. Allied Irish Banks

4. Standard Chartered Bank

5. Royal Bank of Scotland

6. Barclays

7. Clydesdale Bank

8. ScotiaBank, UK

9. Tesco Bank



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