Mkt 333 Discuss the Impact of E-Commerce on Hsbc

Head of marketing in each countries must first understand the target market and situation domestically to make a marketing strategy which fit with them. They need a market research to know what their customers wants, needs, and what pain points they have. They also have to analyse on the external factors which will likely to have impact on their customers such as political and law. So that, the bank can create products or services catered to that locals in specific country. They have to be aware of cultural practices, religion, race or social norms by continuing do research and utilize the resources in various countries. For instance, if the bank want to capture the new target segment for instance, low-income or first jobbers, they must need to cater service or prepaid card to help their financial flow and know their consuming behavior and lifestyle of them.The prior method is known as STP. There are many factors that company can use to categorized people such as cultural, religion, believe, social norms, lifestyle including geographic and demographic. This will help company minimize the cost and better analyze the data that it has. However, the services should be flexible and have room for adjustment to better fit in each country. For example, the back-end format should be the same in each country even the front-end format might be different. So that company can provide the globally services as it claims. But they company must not ignore one issue on standardization of their services around the globe internationally, the service must align with the local but not catered to them.

3. Discuss the impact of e-commerce on HSBC

E-commerce is the commercial transactions that electronically conducted through

internet. Supported by advanced technology, it has dramatically growth during past decade. As internet is one of the core factors that help facilitating e-commerce as well as the platform for e-commerce. The growth of smartphone also has a critical support. People tend to do the financial transaction online on the smartphone rather than go to the branch as the old day. The reasons are it more convenience, time-saving, and reduce transportation cost. People can do the transaction through e-commerce anywhere and anytime they preferred. They do not have to worry about the operating hours of the branch anymore. It also helps customers save their time since they do not have to wait for a long queue at the branch, prepare the copied documents, and spend their time on transportation. Customers can also save costs for going to the physical branch as well such as transportation cost, document cost, and opportunity cost. For example, people do shop online a lot and this involve with financial transaction as well. Physical stores become the display in customer perception to go and try the product then purchase it online.HSBC has to adjust itself and adopt the e-commerce