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Brief case studies in alphabetical order Worksheets Applied Business GCSE GCSE Organization Studies GNVQ Intermediate AVCE AS Organization A2 Business Scottish Business management standard Scottish Business management More advanced Scottish Business management Larger Scottish Organization management advanced higher Worksheet answers Lessons Sources and uses of finance Stakeholders Market Preparing Segmentation Decision making Product life pattern Lesson strategy answers ACCA BT Dixons Gillette Hazelwood Sandwiches Kelloggs 53 fifty four 55 56 57 58 59-61 Coca-Cola Vodafone McDonalds Argos Kraft BG Group Nissan Cadbury's MFI Usa airlines Competition The promoting mix Franchising Business lifestyle Budgeting Investment appraisal Operations Social responsibility SWOT examination External factors 38 39 40 41 42 43 44 forty-five 46 47 48-52 1-37
Abbey is a bank. In a similar manner that a shop sells merchandise, Abbey markets financial products. These are generally products such as bank accounts, mortgages and bank cards. Abbey is part of the financial services industry. Abbey's old identity was Abbey National.
Abbey found the following: ◗ Its main POWER was it is expert familiarity with finance. This kind of meant that it may focus on this area. ◗ Their main WEAK POINT was their size. As only the sixth largest lender, it could certainly not offer the same range of products because bigger banks. This resulted in it should offer a simpler range. ◗ The primary OPPORTUNITY was going to provide simpler products which will customers would better understand. ◗ The key THREAT was from other financial institutions, who might want to take over Abbey, so it needed to become more robust. As a result of this kind of, and other analysis, Abbey Countrywide decided to launch a range of products that was easier to understand. It made a decision to make points simpler simply by changing: ◗ Its name – to Abbey. ◗ Their product range in three basic types of mortgage (a long term bank loan to buy a house or other property) and savings accounts. ◗ It is communications to customers – making the entire characters, brochures etc clearer.
Researching the market
The financial services industry offers hundreds of products from a number of business. Abbey National provided a wide range of items but identified it was producing a damage on some of all of them. In the year 2003 it performed some market research, to find out why it was producing these failures and how it could possibly improve.
Component to this market study was to execute a SWOT analysis. This meant searching for what it really was good at, and what could possibly be holding it back. SWOT means: ◗ Advantages ◗ Weaknesses ◗ Opportunities ◗ Risks. Strengths and Weaknesses are internal – Abbey can control these. Opportunities and Threats happen to be external. Because of this they are outside Abbey's control....