Published by MBA Skool Team, Last Updated: December 15, 2016
Marketing Strategy of BNP Paribas analyses the brand with the marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion). There are several marketing strategies like product innovation, pricing approach, promotion planning etc. These business strategies, based on BNP Paribas marketing mix, help the brand succeed in the market.
BNP Paribas marketing strategy helps the brand/company to position itself competitively in the market and achieve its business goals & objectives.
Let us start the BNP Paribas Marketing Strategy & Mix to understand its product, pricing, advertising & distribution strategies:
The product strategy and mix in BNP Paribas marketing strategy can be explained as follows:
BNP Paribas has product offerings in the financial sector. That includes asset management, corporate banking, investment banking, private banking, consumer banking, credit cards, mortgage loans and wealth management. BNP Paribas has separate units which are employed dealing with specialized financial products such as custodial banking, online brokerage, insurance, real estate etc. It also offers services in Fleet Management which includes accident and tyre management, fleet funding, relief vehicle, sales and lease back, road side assistance etc. This gives an overview of the product strategy in the marketing mix of BNP Paribas.
BNP Paribas Price/Pricing Strategy:
Below is the pricing strategy in BNP Paribas marketing strategy:
As BNP Paribas provides tailor fit solutions to its clients it provides customized pricing evaluating various factors such personalized offers through any channel, considering the need of the customer, rapid build-up of the new products etc.
BNP Paribas offers specialized techniques of pricing its products and services depending upon the level of customization required as well as the market conditions. Its pricing policies also vary depending upon the sector to which it caters. This covers the marketing mix pricing strategy of BNP Paribas.
Following is the distribution strategy in the BNP Paribas marketing mix:
BNP Paribas has a strong global presence. In India, more than 200 operating units in metro cities like Delhi, Bangalore, Pune, Delhi, Chennai etc. offering services in fleet services management. It provides all its financial services across world through its corporate houses and offices.
BNP Paribas has its presence in 74 different countries offering its services online as well as offline through its offices and chain of ATMs.
BNP Paribas Promotion & Advertising Strategy:
The promotional and advertising strategy in the BNP Paribas marketing strategy is as follows:
BNP Paribas engages in sponsorship especially for tennis. It has been sponsor for Davis Cup in 2001 and a title in 2002. It was also a sponsor for Indian well Master in the year 2009. It promotes its services though online social media platforms such as Twitter, Youtube, Twitter etc.
Since this is a service marketing brand, here are the other three Ps to make it the 7Ps marketing mix of BNP Paribas.
BNP Paribas employs over 180,000+ employees across all its branches worldwide. BNP Paribas engages special team of experts for the financial expertise required in various sectors. For eg. It employs fixed income team which helps companies in the foreign exchange, credit risk, and interest rate though the sale of derivative projects such as credit derivatives, interest rate foreign exchange options as well as foreign exchange swaps. Pariba’s Derivatives & Equity team helps the companies in managing their investment portfolios and risk with equity derivatives. BNP Paribas' Corporate Finance team provides expertise in terms of merger & acquisitions, right issues, equity raising opportunities and convertible bond issue.
BNP Paribas promotes very healthy and diverse environment in the organization. It aims at providing good place to work and offers a dynamic career opportunities employees. It also offers 25% places in the senior management for women and the number has reached 26% in the year 2015. It is implements innovative policies in achieving employee satisfaction rate of 71%. BNP Paribas also employs policies to employ disabled people in the organization.
BNP Paribas has its headquarter in Paris and carries out key decision making processes from there. It also operates its website which is very user friendly in nature and open for every type of queries, customer services and business proposals. It also issues business cards, furnishing items and tangible items such as cheque books, diaries etc which serves as medium of physical evidence for BNP Paribas. This covers the marketing mix of BNP Paribas.
About BNP Paribas:
BNP Paribas is one of the oldest banks in the world found in the year 1860. This French multinational bank is also one of the largest banks in the world securing the third rank in terms of its total assets as measured by Forbes and Bloomberg. With its presence in 74 countries BNP Paribas employs 189,000 employees globally and generated net profit of 6.7 billion Euros in the year 2015. Though Belgium, France and Luxembourg forms its domestic market, BNP Paribas also has extended its operation in North Africa, United States, Ukraine and Turkey as well as its large scale operation is expanded over Hong Kong, New York, Singapore and London.
Some of its major shareholders are European Institutional investors, Retail shareholders, Belgium state, Grand Duchy of Luxembourg etc. In India BNP Paribas has its branches in metros including Pune, Ahmedabad, Delhi, Mumbai, Kolkata, Hyderabad Bangalore and Chennai.
This article has been researched & authored by the Content & Research Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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