Financial services Essay Example | Topics and Well Written Essays - 4000 words

Financial services - Essay Example For a Chinese financial service organization to establish its roots in UK’s financial service sector could be quite troublesome. However with appropriate strategies particularly marketing strategies along with accurate market entrance strategy, the organization could reach the height of success it has desired. Even though, the organization would have to face high competition in the financial service sector of UK, but still the prospects for growth are relatively high for financial organization if the organization focuses on cost reduction rather than differentiation. With the right proportion of marketing mix strategies (i.e. product, price, place and distribution) the organization can have the opportunity to win the heart of potential customers and customers in the market. INTRODUCTION Purpose Financial services are the roots to economic growth and development as such institutions help private citizens to protect their money from uncertainty and economic depressions, while en abling several businesses to start up, grow, expand and compete in local and international markets after increasing their overall efficiency. Financial services provided through banks and other financial institutions help in reducing the vulnerability and allow the people to manage their assets in positive ways i.e. generation of income. The purpose of this feasibility analysis is to take into consideration all the necessary dimensions of the business to evaluate new markets outside China. In order to setup business in a new market, it is essential to evaluate the environment in the host country along with the regulatory framework. This would significantly help in the identification of the critical factors that could help the business to setup accordingly in the new market. In addition, this feasibility study also provides the institution with several strategies to enter the new market along with the implications of marketing mix strategies. Similarly, the STP (i.e. Segmentation, Ta rgeting and Positioning) would also be indentified and evaluated to provide the financial institution with opportunities to be successful in the new market. Finally, the strategies for sustaining the corporate reputation and the brand in new territory would also be defined and explained in the feasibility study. To further enhance the growth of the business in the new market and its territories, several recommendations have been provided to the financial institution. Scope The financial service sector is the largest sector in the world in terms of earnings and this sector plays an essential role in the economic development and growth for any country. The scope of this feasibility study would be to identify the marketing strategies in order to introduce the Financial Service organization in new market outside China. In addition, the feasibility study would also provide analysis of the external environment in the host country along with the regulatory framework. Similarly, the consume r economics and segmentation would also be indentified in the context. FEASIBILITY ANALYSIS For a financial organization to incorporate its operations in new market outside China it would be essential for the organization to understand the market and the regulatory framework associated with it. In order to successfully infiltrate the banking sector in UK, the business should take following elements under consideration.