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HSBC Marketing

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Ananta Chhajer
Ananta Chhajer

HSBC has successfully established itself as the world's local bank through its strategy of serving local markets globally. It approaches different cultural segments uniquely through advertisements that depict cultural nuances. To connect locally in New York, HSBC sponsored a cab driving contest. HSBC uses geographic and demographic segmentation, targeting various age and income groups. Its 'Different Values Campaign' embraces multiple cultures but risks offending some without care. Currently, HSBC is the second largest bank by revenue, serving over 100 million customers across 85 countries.

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HSBC Marketing
Established in 1865, HSBC today is the worlds second largest bank serving over 100 million customers through 9500 branches in 85 countries
SO WHAT MADE HSBC SO SUCCESSFUL?
HSBC has successfully established its image as the worlds local bank. Thus its strategy was to be in the minds of its customers as a globe spanning financial institution with unique focus on serving the local markets
How was HSBC able to establish itself as the Worlds local Bank?
HSBC was able to establish the image through range of advertisements focused on different cultural values
The advertisement shows how Germans associate cars with pride and any minor accident is taken very seriously whereas just across the border in France they take a carefree approach
The advertisement shows how in English culture its a slur on the hosts if you do not clear your plate whereas the Chinese feel it is questioning their generosity if you do so
The advertisement shows how Germans associate cars with pride and any minor accident is taken very seriously whereas just across the border in France they take a carefree approach The advertisement depicts how gestures depict different things in different culture
HSBC Marketing
To establish its local presence in New York, HSBC launched the New Yorks most knowledgeable cabbie contest. 6 Finalists were chosen and the winner got to drive HSBC- branded bank cab full time. Any customer showing HSBC bank card, checkbook or bank statement were able to get a free ride in the cab. Thus it was another attempt to establish itself as the Worlds Local Bank
How HSBC used segmentation strategy?
HSBC used this concept to segment different markets based on location and cultural values. Then it approached each segment with which appealed to the people. Geographic/Demographic HSBC strategized to target various age groups. In this attempt it offered smart cards and no-frills credit cards to underserved student segment. Generation/Age HSBC also targeted its high value customers with special Premium Centers bank branches Income SEGMENTATION PARAMETERS
What is HSBCs Different Values Campaign?
The Different Values Campaign embraced the notion of multiple viewpoints and different interpretations in different cultures. Through this campaign HSBC aims to show how closely it knows all the culture and how it values each culture.
Is there any risk in the Marketing Strategy of HSBC?
HSBC has benefitted through the campaign of embracing different culture . However there are subtle risks associated that HSBC should take care of: 1. Since HSBC is specifically catering to different culture and not engaged in undifferentiated and mass Marketing a large workforce is needed for such a campaign to have the knowledge of individual ethnicities . 2. This would require huge financial budget to conduct financial activities in a global market that can reduce profitability. 3. Further HSBC is working with a lot of culture. Thus, it needs to be careful to remain neutral with all and not hurt the sentiments of one segment to appease the other. RISKS
HSBC SPONSORED EVENTS
HSBC has earned $142 billion in sales in 2009. Undoubtedly, its strategy of embracing different culture and working closely with local knowledge of each has resonated with the audience. In 2015, the brand value of HSBC was valued at 27.3 billion dollars
Segmentation has been an important part of Marketing strategy by HSBC in which it uses geographic , demographic segmentation to approach the market HSBC established the image as Worlds Local bank through its strategic advertisement. However there are risks associated which HSBC should be handle carefully Worlds Local bank and Different values campaign where HSBC is trying to approach each culture uniquely and thus creating a subtle impression in the minds of the customer of being a global spanning financial institution with local knowledge Currently HSBC is the 2nd largest bank with 27.3 billion dollars in revenue serving over 100 million customers in 85 countries SUMMARY
HSBC Marketing
Created By Ananta Chhajer, Jadavpur University during a Marketing Internship with Prof. Sameer Mathur, IIM Lucknow DISCLAIMER

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HSBC Marketing

  • 2. Established in 1865, HSBC today is the worlds second largest bank serving over 100 million customers through 9500 branches in 85 countries
  • 4. HSBC has successfully established its image as the worlds local bank. Thus its strategy was to be in the minds of its customers as a globe spanning financial institution with unique focus on serving the local markets
  • 5. How was HSBC able to establish itself as the Worlds local Bank?
  • 6. HSBC was able to establish the image through range of advertisements focused on different cultural values
  • 7. The advertisement shows how Germans associate cars with pride and any minor accident is taken very seriously whereas just across the border in France they take a carefree approach
  • 8. The advertisement shows how in English culture its a slur on the hosts if you do not clear your plate whereas the Chinese feel it is questioning their generosity if you do so
  • 9. The advertisement shows how Germans associate cars with pride and any minor accident is taken very seriously whereas just across the border in France they take a carefree approach The advertisement depicts how gestures depict different things in different culture
  • 11. To establish its local presence in New York, HSBC launched the New Yorks most knowledgeable cabbie contest. 6 Finalists were chosen and the winner got to drive HSBC- branded bank cab full time. Any customer showing HSBC bank card, checkbook or bank statement were able to get a free ride in the cab. Thus it was another attempt to establish itself as the Worlds Local Bank
  • 13. HSBC used this concept to segment different markets based on location and cultural values. Then it approached each segment with which appealed to the people. Geographic/Demographic HSBC strategized to target various age groups. In this attempt it offered smart cards and no-frills credit cards to underserved student segment. Generation/Age HSBC also targeted its high value customers with special Premium Centers bank branches Income SEGMENTATION PARAMETERS
  • 15. The Different Values Campaign embraced the notion of multiple viewpoints and different interpretations in different cultures. Through this campaign HSBC aims to show how closely it knows all the culture and how it values each culture.
  • 16. Is there any risk in the Marketing Strategy of HSBC?
  • 17. HSBC has benefitted through the campaign of embracing different culture . However there are subtle risks associated that HSBC should take care of: 1. Since HSBC is specifically catering to different culture and not engaged in undifferentiated and mass Marketing a large workforce is needed for such a campaign to have the knowledge of individual ethnicities . 2. This would require huge financial budget to conduct financial activities in a global market that can reduce profitability. 3. Further HSBC is working with a lot of culture. Thus, it needs to be careful to remain neutral with all and not hurt the sentiments of one segment to appease the other. RISKS
  • 19. HSBC has earned $142 billion in sales in 2009. Undoubtedly, its strategy of embracing different culture and working closely with local knowledge of each has resonated with the audience. In 2015, the brand value of HSBC was valued at 27.3 billion dollars
  • 20. Segmentation has been an important part of Marketing strategy by HSBC in which it uses geographic , demographic segmentation to approach the market HSBC established the image as Worlds Local bank through its strategic advertisement. However there are risks associated which HSBC should be handle carefully Worlds Local bank and Different values campaign where HSBC is trying to approach each culture uniquely and thus creating a subtle impression in the minds of the customer of being a global spanning financial institution with local knowledge Currently HSBC is the 2nd largest bank with 27.3 billion dollars in revenue serving over 100 million customers in 85 countries SUMMARY
  • 22. Created By Ananta Chhajer, Jadavpur University during a Marketing Internship with Prof. Sameer Mathur, IIM Lucknow DISCLAIMER