MARKETING PLAN

Marketing Plan for Santander

[Instructor name]

Table of Contents

Introduction1

Marketing plan for Santander2

Learning outcome 2: Situation analysis2

Market and product analysis2

Consumer analysis3

Competitive analysis3

Opportunity analysis4

Learning outcome 3: Objectives5

Sales objectives5

Profitability objectives5

Customer objectives6

Learning outcome 3: Strategy6

Overall strategy6

Marketing mix6

Product6

Place6

Price7

Promotion7

Financial impact statement7

Learning outcome 3: Monitoring and control8

Performance analysis8

Customer data feedback8

Conclusion9

References10

Appendix-I12

Pro-forma income statement12

Marketing Plan for Santander

Introduction

The marketing management process is performed by all marketing managers. This marketing management process includes certain steps which are societal marketing orientation, understanding, planning, implementing, and connecting with customers. This management process of marketing provides effective management of the marketing process. The most important phase, some argue, is the understanding step. This step reveals the needs, wants and interests of the target market. The knowledge about the needs of current and potential stakeholders is identified through market segment analysis and competitor analysis. In addition, there are three ways whereby customer markets are segmented. These include research-based segmentation, existing segmentation services, and managerial judgment. Contrarily, competitive analysis mostly involves conducting comparative revenue, cost, and profitability analyses, which also includes risk analysis (Loudon, Stevens, and Wren, 2005). The marketing management process addresses the learning outcome 1 of our marketing planning course.

This marketing plan aims to develop the marketing planning for Santander Bank. It will aim to carry out a comprehensive situation analysis. Then, it will develop the objectives for the bank. This will be followed by formulating a marketing strategy for the bank. Lastly, the marketing plan will be implemented and the progress and achievements will be monitored and evaluated (Stevens and Loudon, 2006).

Marketing plan for Santander

Learning outcome 2: Situation analysis

Market and product analysis

The market situation is such that there is fierce competition for bank accounts in the UK market. Further, the loan market is also stable and is characterised by fierce competition. Further, there is a stalemate in the growth of the bank deposits market. Finally, there has been growth in the SME sector for lending (Santander, 2012a).

Since, Santander is an old and established bank, it would be appropriate to conduct a sales analysis of its products to determine the correct market and product situation. Segmental analysis of the retail and the corporate banking sectors reveals certain characteristics. In the first quarter of 2012, mortgage gross lending increased by 34%, while the mortgage net lending did not increase. UPL gross lending increased by 3%. Investments sales of API decreased by39%. Mortgage stock increased by 1%, while UPL stock decreased by 13%. Bank account openings increased by 9%, while credit card sales increased by 13%. The market shares of its mortgage gross lending, mortgage stock, and bank account stock were 17.6%, 13.9%, and 9.1%, respectively.

Similarly, the performance of the bank's corporate sector was also good. Its core corporate assets increased by 21%, while the SME asset stock increased by 21%. SME asset market share became 4.5%. Social housing assets increased by 8%, while the non-core assets diminished by 27%. Corporate liabilities reduced by 1%, while the liability stock of SME increased by 16% (Santander, 2012a).

This clearly indicates that in the retail sector the investments ...