Published by MBA Skool Team, Last Updated: January 05, 2017
Marketing Strategy of Mizuho 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 Mizuho marketing mix, help the brand succeed.
Mizuho marketing strategy helps the brand/company to position itself competitively in the market and achieve its business goals & objectives.
Let us start the Mizuho Marketing Strategy & Mix to understand its product, pricing, advertising & distribution strategies:
Mizuho Product Strategy:
The product strategy and mix in Mizuho marketing strategy can be explained as follows:
Mizuho is one the biggest financial institutions in Japan. The following are the services offered by Mizuho Gobally:
• Financial Services: Mizuho global e- banking, SWIFT connectivity services for Corporates
• Custody Services: Japan Market topics, Mizuho custody newsletter, Japan Market Practice, Corporate Actions News, Market profile of Japan, Mizuho Custody Services
• Yen Clearing Services
All these financial products and services are a part of its marketing mix product strategy.
Image: company website
Mizuho Price/Pricing Strategy:
Below is the pricing strategy in Mizuho marketing strategy:
Mizuho being a bank, is regulated by the central bank of the countries it is operating in.
The Banking and Financial Industry throughout the world is highly regulated by the central bank of the respective country and the banks in that particular country are supposed to follow the guidelines set by the central bank for swift operations. The interest rates charged to the customers is fixed and there is no much price differentiation among the competitors. Hence the banks try to differentiate with the quality of services offered to its customers. The interest rates and service charges are mentioned on the Mizuho Bank India website. Hence, this covers the pricing strategy in the marketing mix of Mizuho.
Mizuho Place & Distribution Strategy:
Following is the distribution strategy in the Mizuho marketing mix:
Mizuho Bank is present in 36 countries across the world. It has branches located in major cities of respective countries it operates. In India, it has branches in New Delhi, Ahmedabad, Bangalore, Mumbai and Chennai. The customers can visit any of these branches to avail the services. In India it has tied up with State Bank of India to offer its services. It is leveraging on SBI’s expansive domestic branch network.
Mizuho Bank is planning expansion strategies across the globe.
Mizuho Promotion & Advertising Strategy:
The promotional and advertising strategy in the Mizuho marketing strategy is as follows:
Mizuho marketing and promotional strategies can be understood as below:
Corporate Advertising (TV and Print Ads): Focuses on being the number one financial partner of its clients. It emphasizes on trust and building strong customer relationships and thus providing superior solutions to its clients.
Sponsorships: Mizuho is one of the sponsors of Tokyo 2020 Olympics
CSR: It engages in various CSR activities for the community in various countries it operates.
Digital Marketing: Engages in search in marketing and social media marketing in order to attract new clients to its website.
Since this is a service marketing brand, here are the other three Ps to make it the 7Ps marketing mix of Mizuho.
Mizuho employs around 27500 employees across the globe. The employees are highly skilled and come from diverse backgrounds. Mizuho focus on employee satisfaction and conducts special programs in order to retain its employees. Special awards and Bonuses are given to the outstanding performing employees. Also its employees are motivated to constantly innovate and try new methods. Its current President and CEO is Nobuhide Hayashi. Since Mizuho has diverse business range, employees are hired on the skills they have in each business.
All the processes are highly automated. Mizuho believes in quick and instant service keeping the quality in mind. It has adopted various management information systems to simplify the processes thus reducing the error rate and providing the best service to its clients.
Mizuho Bank branches are highly modernized with state of the art technology. The website is very user friendly and one can find related information at ease. Relevant papers and invoices upon transactions are provided to its customers for further use. Hence, this gives an overview on the marketing mix of Mizuho.
Mizuho is one of the largest financial companies in Japan. It was founded in 2002. Mizuho Bank provides financial products and services to a wide range of clients, including individuals, small and medium-sized enterprises, large corporations, financial institutions and public sector entities.
It has assets worth $1.64 trillion. Mizuho's major competitors are Sumitomo Mitsui Financial Group, Citigroup, Mitsubishi Financial group.
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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