Published by MBA Skool Team, Last Updated: January 06, 2018
Marketing Strategy of Rabobank 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 Rabobank marketing mix, help the brand succeed in the market.
Rabobank marketing strategy helps the brand/company to position itself competitively in the market and achieve its business goals & objectives.
Let us start the Rabobank Marketing Strategy & Mix to understand its product, pricing, advertising & distribution strategies:
The product strategy and mix in Rabobank marketing strategy can be explained as follows:
Rabobank is a prominent bank and financial services organization based out of Netherlands, Rabobank is a farmer’s bank and it provides loans to both small and big farmers as a part of its marketing mix product & service strategy. The company targets small and medium sized companies that are also into farming and display a major potential in agrarian sector. RaboBank also has its roots in various parts of the world and operates in the name of Rabodirect wherein potential farmers can directly apply for loan online or even open a savings account for that matter.
Rabobank Price/Pricing Strategy:
Below is the pricing strategy in Rabobank marketing strategy:
Rabobank has always operated with idealistic approach, it ventured into the unknown territory which not many Bankers thought of and that has clearly worked in their favor, the cooperative Bank model has assured a strong bond between invested capital and community.
This bank has been one of a kind to Abject the poverty of Farmers through Charitable aid.
Rabobank Place & Distribution Strategy:
Following is the distribution strategy in the Rabobank marketing mix:
RaboBank has its presence all over the world, what started out in 1972 as a farmer’s bank, now is a bank for farmers all over the world, the target has always been the rural audience right from the begging, and 80 percent of population of world accounts for rural population, who make their living only out of farming. Rabobank has more than 500 offices spread across Netherlands itself.
Globally, the bank has its presence at over 400 locations.
Rabobank Promotion & Advertising Strategy:
The promotional and advertising strategy in the Rabobank marketing strategy is as follows:
Starting out from its cooperative and agricultural roots, Rabobank has grown to become world's leading Financial service provider for the food and agribusiness. This has only been possible through exercising great amount of knowledge into its employees about the food chain and it has its own department to look after that part. It also promotes its RaboResearch Food and Agribusiness department. Most of Rabobank services are marketed through word of mouth or through local influencers. It is important to promote the brand by empowering the customers and that seems to be Rabobank’s policy.
Since this is a service marketing brand, here are the other three Ps to make it the 7Ps marketing mix of Rabobank.
Rabobank has round about 80 Analysts working in local teams across the worldwide Rabo network. Each team has been assigned to different sectors in Agribusiness ranging from Fish and Meat to Dairy, Fruits and Cocoa. More than 50,000 people are employed with Rabobank, which shows the tremendous focus that the company has on its people. All the employees are well trained and have to expertise to handle customer finances and queries.
Rabobank has several business processes to provide loans and financial support to its customers. The Sectors covered under Rabobank are vast including Agricommodity markets, Animal Protein, Beverages, Consumer foods, Dairy, F&A Supply Chains, Farm Inputs, Fresh Produce, Grain&Oilseeds and Sugar. The process for all these sectors are streamlined under one umbrella process to achieve best results across the Globe. The process is simple, to serve the farmer in need. Once a thorough analysis is done, the team of analysts target a sector and empower the farmers there.
The awards and accolades won by Rabobank’s internationally are an evidence of their true brilliance. The number of lives they have touched and the testimonial they have received is yet again a evidence. At the most the physical evidence that a customer can avail is the plas and schemes that a farmer can receive from Rabobank. Also, loan and other service related documents can be treated as physical evidence. This gives an insight on Rabobank marketing mix.
Rabobank is a Dutch Banking and Financial Institution headquartered in Netherlands. It believes in "Growing a better world together" like its tagline. Unlike Commercial Banks, Rabobank provides banking related to food and Agricultural sector and has sustainability oriented Banking. Rabobank is deeply rooted in Agriculture.