Capital One Marketing Mix

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Marketing Mix of Capital One analyses the brand/company which covers 4Ps (Product, Price, Place, Promotion) and explains the business & marketing strategies of Capital One.

Let us start the Capital One Marketing Mix:

Product:

Capital One offers a broad range of financial products and services to their clients at individual, small scale and at commercial level. All these cover the product strategy in the marketing mix of the brand. Capital One offers credit cards – the most successful product for the company as they earn most of the cash for the company. It also offers wider range of credit cards as Venture rewards, Quicksilver Rewards and Venture One rewards. The other offering is banking services in which the company offers wide range of facilities other than borrowing and investing to its online and offline customers. The company also offers wide range of business services. Capital One focuses on simple and innovative products which create customer satisfaction. ‘Level money’ is a budgeting app offered by the company. Capital One also helps customers get a mortgage loan and plan their mortgages. The company broadly offers personal banking and borrowing (Home loans and auto finances).



Image: Wikimedia


Price:

Capital One portfolio offers wide products and services online and offline. Capital One offers free services to target new potential clients providing free digital services. Capital One offers premium range of credit cards, and offers rewards on them. The brand earns most of its revenue from credit cards (approx. 62% in 2015). Capital One maintains its competitive edge by offering fair price of its wide range of products.


Place:

Capital One has 800+ branches including 10 café style locations (Capital One 360) and 2000 ATMs. Along with United States Capital One serves in Canada and United Kingdom. The bank offers retail banking services to its customers through its physical branches and digital services through its online presence.


Promotion:

Capital One focuses on brand awareness by emphasising on information and technology based strategy. Capital One adopts an aggressive marketing strategy in its promotional strategy marketing mix. Capital One combines information and technology and offers customized solutions. Also, the customer engagement is met by using social media apps. For instance, using twitter for announcing contests and trending hashtags. Capital one also uses humours video web series to create awareness for their mobile banking offerings. The company is also collaborating with ad agencies and using campaigns like “What’s in your Wallet?” on Instagram to showcase their wide range of credit card offerings. Capital One also employs famous celebrity to teach its consumers “Gronkonomics” which offers personal finance tips to save money by Rob Gronkowski.


Since this is a service marketing brand, here are the other three Ps to make it the 7Ps marketing mix of Capital One.

  

People:

Capital One was founded back in 1988, by Richard D. Fairbank. The company is also headed by Richard Fairbank (CEO). The bank offers Retail banking, Credit cards, loans and saving services in United states and Canada through approx. 45000 employees working with Capital One.


Process:

Capital One brand is focusing on digital banking so that they can deliver new tech based features and offer real time services. They offer customers security patterns rather than passwords to help secure and easier transactions on mobile applications. Capital One focuses on retail banking since by offering products and services to a variety of customers with different credit profiles, the company can maximize its customer base.


Physical Evidence:

The company’s headquarters are addressed at Capital One Financial Corporation, McLean, VA. The bank has 2000 ATM cash dispensers. There are nearly 800 branches of the bank. The company’s official website contains all information about the brand and its service offerings. This concludes the Capital One marketing mix.


About Capital One:

Capital One is a Fortune 500 company and it was founded by Richard D. Fairbank in the year 1988. The company offers a wide variety of financial products and services to its customers. The brand has its headquarters in McLean, Virginia. Capital One is also one of the most famous banks in America. The company has established itself in the market as a reputed brand. The brand has been awarded several titles in the field of product innovation and corporate citizenship. The company’s target audience are individuals, small businesses and commercial establishments.

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The names and other brand information used in the Marketing Mix section are properties of their respective companies. The companies are not associated with MBASkool in any way. The brand names are used purely for educational/academic purpose only.

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