MBA Advertising Plan Essay Example | Topics and Well Written Essays - 5500 words

MBA Advertising Plan - Essay Example While the advertising plan proposes the use of advertising media like television, radio and print media, it also envisages the use of sponsored programs for the promotion of the business in the local area. The advertising plan also presents a detailed account of the media and the contents of the advertising plan that will be used to promote the business of the bank in the chosen location. II. Situation Analysis A. Current Marketing Situation NBK is the largest and most dominant financial institutions functioning in Kuwait. Apart from enjoying the highest credit rating in the Middle East, the bank has a most extensive regional and international network to meet the customer demands. The bank has subsidiaries and representative offices in main international and regional financial centers of the world and has ambitious plans for expansion into other regions where there is no presence of the bank at the moment. The strength of its financial position, the conservative approach to risk management and well diversified and high quality asset base and income sources characterize the bank's fundamentals of growth. Well-recognized and strong franchise, dominant market share, sophistication in technology and stable and capable management team are the additional features that have contributed for the growth of the bank over the period. The products and services being offered by NBK include a host of interest and non-interest bearing accounts, provision of credit cards and associated services, different types of loans to suit the choice of the customers, convenience of online banking and other customer packages suited for different kinds of customers. The bank serves different types of clients like privately-hel companies, public institutions,... In this essay the author describes how development of an advertising plan assures that the marketing dollars spent by an organization is utilized wisely in targeting the right type of audience. In that respect the advertising plan for a bank can be considered as an important tool in achieving the desired growth in the business of the bank. The effectiveness of the advertising by a bank can be improved drastically by a careful planning in advance of the media as well as the contents of the advertisements the bank proposes to use in order to convince new customers to come in and to reward the current customers so that they do not move into the competitors. In this context this paper presents the advertising plan for the National Bank of Kuwait for the promotion of its operations in Fairfax County, Virginia State of United States. While the advertising plan proposes the use of advertising media like television, radio and print media, it also envisages the use of sponsored programs for t he promotion of the business in the local area. The advertising plan also presents a detailed account of the media and the contents of the advertising plan that will be used to promote the business of the bank in the chosen location. Having established the advertising objectives, the next task is to set the advertising budget. The determination of the exact amount that needs to be spent on advertising is more an art than a science. There are a number of factors that influence the setting of the advertising budget.