5cs of Common Wealth Bank of Australia †MyAssignmenthelp.com

Question: Discuss about the 5cs of Common Wealth Bank of Australia. Answer: Customer information collection and verification: Information and collection and then verification of data of every customer is the procedure of every bank. In the case of Common wealth bank, to know his customer information they provide them some forms to fill up. After filling the form the verification process is being done, after this whole procedure, the customer is now capable to use the facilities of the bank. Here the sample of the form: Marketing research and planning: 5cs of Common Wealth Bank of Australia: Introduction of company: Common wealth bank is a multinational bank in Australia with business across Fiji, New Zealand, Asia, United Kingdom, and United States. Common wealth bank provides many services as such commercial services, fund management, investment, insurance, and broking services, product, global wealth management, private euite. The bank has been founded by the Australian government in 1911, headquarters of the bank is situated in Darling harbour Australia. Customers of the company: The product and services provide by the bank to the customer as such credit cards, loans, transaction and saving account. Common wealth bank has the largest network of ATM and branch. The bank structure include some services as such: MarketingBanking Services: This services are provided to the small business and personal customers (Parente, and Strausbaugh-Hutchinson, 2014). Premium Business services: Premium business services are provided to institutional clients and global markets. Wealth Management: the wealth management brings the group of fund management platforms, principal funds, and insurance, financial advice business funding together (Armstrong, et al., 2014). Collaborators: The common wealth of Australia decided to collaborate with Austrade Company to expand the finetech innovation between the UK and Australia. The segment of the common wealth bank are the Australian people and international clients. The positioning of this bank are provide services in effective manner to his customers and clients. Target group of the bank are Australian citizens, and business demanding banking services (Lockrey, 2015). The bank has own brands such ASB bank, Commonwealth security limited, Common wealth insurance limited (Baker, 2014). Organizational structure of common wealth bank of Australia Competitors: The main competitors of the common wealth bank are: National Australian Bank Westpac ANZ These are the four big banks in Australia. These banks are called the four pillars in Australian market. Every bank wants that their customers feel free to access their data, lower bank fees, they can see their credit card interest rates. But all these things are depend on the Australian customers some has the issue that even it is the easy process, but there is a guarantee issue. Context: In the global economy the bank activities and profits are usually affected by the investors. A week economy of the bank can lead decline in the growth and profitability. The main threat of the common wealth bank has that due to foreign exchange rates this bank can face the risk. Also the common wealth bank, due to counter party are not being able to achieve their obligation influx can face the risk. Conclusion: The conclusion of the whole study of common wealth bank is shows that it has the transparency with his customers and distributors. This bank is known as one of the top banks in Australia. The Australian people trust more in this bank to invest their money. References: Armstrong, G., Adam, S., Denize, S. and Kotler, P., 2014. Principles of marketing. Pearson Australia. Baker, M.J., 2014. Marketing strategy and management. Palgrave Macmillan. Lockrey, S., 2015. A review of life cycle based ecological marketing strategy for new product development in the organizational environment. Journal of Cleaner Production, 95, pp.1-15. Parente, D. and Strausbaugh-Hutchinson, K., 2014. Advertising campaign strategy: A guide to marketing communication plans. Cengage Learning.