Published by MBA Skool Team, Last Updated: December 29, 2016
Marketing Strategy of Goldman Sachs 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 Goldman Sachs marketing mix, help the brand succeed in the market.
Goldman Sachs marketing strategy helps the brand/company to position itself competitively in the market and achieve its business goals & objectives.
Let us start the Goldman Sachs Marketing Strategy & Mix to understand its product, pricing, advertising & distribution strategies:
The product strategy and mix in Goldman Sachs marketing strategy can be explained as follows:
Goldman Sachs serves a wide range of banking solutions to its clients. Goldman Sachs company offers Investment banking services to Corporates, financial institutions and government which covers the product strategy in its marketing mix. Investment banking division serves financial institutions, government, public and private clients across the globe. The brand provides advisory services on mergers and acquisition, divestitures, corporate defence structure, risk management and underwriting services. Institutional client services segment creates market and facilitates client transaction in fix income, currency and products. It is supported by investment research division over 3400 companies and in more than 40 nations. Goldman Sachs also provides its services in making transaction in stock, option and future exchange worldwide and provides financing services. The company also invests directly and indirectly through funds in securities, loans and real estate. Another division namely the Investment management segment provides investment services and products. Also, Goldman Sachs offers wealth advisory services, financial counselling and brokerage services.
Image: company website
Goldman Sachs Price/Pricing Strategy:
Below is the pricing strategy in Goldman Sachs marketing strategy:
Goldman Sachs employs competitive pricing in their marketing mix strategy on many of their services.
Goldman Sachs works worldwide and the pricing policies get affected by economic fluctuations, the economic status of the countries and currency valuation thus flexible pricing policy are also used by Goldman Sachs at times. Services like wealth management, real estate, financial counselling are charged at a premium price. The advice and recommendations are provided by experts and the charges are high for expert’s advice and guidance.
Following is the distribution strategy in the Goldman Sachs marketing mix:
Goldman Sachs global office is in New York and European headquarters are in London. The brand’s global presence has affected the growth of the bank. Goldman Sachs has already established itself as one of the biggest brands and to generate more revenue they have entered in Europe and Asia. In Asia, they have headquarters in Singapore, Hong Kong and Tokyo.
In India, Goldman Sachs has office in Bengaluru and Mumbai functioning in investment banking, global investment research, operations and technology.
Goldman Sachs Promotion & Advertising Strategy:
The promotional and advertising strategy in the Goldman Sachs marketing strategy is as follows:
Goldman Sachs invests almost 90% of its marketing budget in digital marketing schemes. Company focuses on content creation and social media. Through the use of social media platforms, the company aims to reach targeted customers via Facebook, LinkedIn, YouTube and Twitter. Company also has tied up with media houses for narrative advertisement policy. Goldman Sachs produces sponsored stories with collaboration with The New York Times to create customer value.
Since this is a service marketing brand, here are the other three Ps to make it the 7Ps marketing mix of Goldman Sachs.
Goldman Sachs employs people such that there is diversity at the work place. The company invests a lot in its employees and believes that they are its greatest strength. They try to maximize individual potential and commercial effectiveness by firm’s culture. The firm provides professional opportunities through effective training programs. Goldman Sachs has about 34,800 employees. Lloyd Blankfein is the present Chairman and CEO of Goldman Sachs. Mr. Gary D Cohn is the President and COO of the company.
The services Goldman Sachs offer mostly takes place over phone or email. At times customers, can meet face to face to the associates and can visit the nearby branches of the company. The process of communication and recommendation is highly effective.
Goldman Sachs has offices across the globe. Company headquarters in New York in United States. The company has offices which show the physical evidence of the brand. The company’s official website has all information regarding the product and services offered. Hence, this gives an overview on Goldman Sachs marketing mix.
About Goldman Sachs Group:
A leading American investment banking firm Goldman Sachs was founded 147 years ago in 1869 by Marcus Goldman and Samuel Sachs. The company has its headquarters in New York, United States. It’s a global investment bank and a security and investment management firm which deals with diverse range of financial services for individual and institutional clients. Goldman Sachs serves worldwide customer through their products in asset management, mergers and acquisitions, commercial banking, commodities, investment banking services.
The bank deals in lending, investment banking and management of finances. Goldman Sachs provides financial solutions to Governments, organisations and individuals.
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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