Marketing Theory

I – Theoretical background and literature review

To perform this project, we will consider to apply the following theories:

1. Marketing Mix

Figure 1: Marketing Mix

The marketing mix is a business tool used in marketing products. They are things that marketing managers can control in order to best satisfy customers in the target market. Marketing mix is often defined as 'four Ps': 'price', 'product', 'promotion', and 'place'.

According to Philip Kotler, in Principle of Marketing:

* Product means the totality of ‘goods and services’ that the company offers the target market.

* Price is what customers pay to get the product.

* Promotion means activities that communicate the merits of the product and persuade target customers to buy it.

* Place includes company activities that make the product available to target consumers.

The success of a company depends on the skillful manipulation of these four key areas above. By using this theory, we can have a general view about ABC Bank’sATM service and its reality about their marketing strategy in customer attraction of using ATM cards.

2. SWOT Analysis Matrix

Figure 2: SWOT Matrix

SWOT is a technique provides a method to identify strategic direction. In other words, SWOT analysis matrix is a strategic planning method which can be used to evaluate Strengths, Weaknesses, Opportunities and Threats of an organization. SWOT model is used to analyze factors that are internal to the business and also factors that affect the company form outside. Strengths and Weaknesses in the SWOT matrix are internal factors while Opportunities and Threats are external factors. The internal factors depend on their impact on the organization’s objectives and may include personnel, finance, manufacturing capabilities, etc. The external factors may include macroeconomic matters, technological change, and legislation and so on. Therefore, SWOT matrix is a good choice in any decision-making situation when an...