This Changing Cultural Trend .

MBS 507 MARKETING PLAN

MASHREQ BANK – EDUCATIONAL LOAN

Project

To study the Educational Loans market, consumer preferences and propose a plan to increase number of Educational Loans through the bank’s own channels – mobile banking, online banking and branches. This should lead to generation of fee income and interest income.

The Product

Mashreq Bank presently possesses a competitive Educational Loan. This works similar to a Personal Loan and the eligibility criteria are as under:

* Salary Transfer to Mashreq Bank

* Minimum Salary – AED 10,000

* Repayment period – 6 to 72 months

* Loan amount – AED 15,000 to AED 250,000

* Interest rate – 10% p.a.

We presently have a tie up with Murdoch University and Institute of Management Technology, wherein students applying for a loan with Mashreq Bank get a 15% and 10% discount on the first semester fees, respectively. Students availing of an Educational Loan also get a Current Account with cheque book facility and an Electron ATM/Debit card.

Despite being one of our innovative products, we have failed to achieve the type of footfall we had anticipated, as most students prefer to take Personal Loans to fulfil their fee requirements. The increasing number of enrolments in Educational Institutions around the country has led us to appreciate the potential in this product and its offerings.

What we expect from you

As part of your Marketing Plan, we at Mashreq Bank require you to conduct an in-depth study of the market, thereby providing a market segmentation and target market plan. This loan is aimed at working students, so we believe that students enrolled in a Post Graduate program would be the likely market segment. We are looking for a Marketing Plan that can be implemented by July 2012 in various stages. The stages and the timeline are left to the students’ discretion, such that the first phase is implementable by the 1st of July 2012.

The students are free to suggest tie ups with various...