ION BRATIANU COMPONENT 2 (new 2 )

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COMPONENT 2 ION BRATIANU BARCLAYS

INTRODUCTION It is becoming increasingly important for businesses in the modern day to market their products and services to a broad audience in order to increase their sales by reaching a wide audience through the use of digital marketing for their businesses in order to reach a broad audience. A digital marketing campaign involves promoting a product or organization using electronic channels, according to Kotler and Keller (2016). You can achieve this through your company's website, social media platforms, or email campaigns. A large multinational bank that operates in more than 50 countries, Barclays Bank is one of the largest banks in the world. Approximately 48 million customers and 140,000 employees are employed at the bank (ibid.). To maintain its customer base while remaining competitive in the market, a bank must utilize digital marketing strategies to maintain its customer base while remaining competitive in the market, so that it can attract new customers while maintaining its existing customer base. MAIN BODY As part of their digital marketing strategy, banks use social media as another channel. Several social media platforms enable banks to advertise their products and services to customers, including Facebook, Twitter, and Instagram. In addition, social media can also serve as a means of providing customer service and support. In addition to all the major social media platforms, Barclays Bank has a strong social media presence. There are regular updates and news posted about the bank's products and services on its website. Customers can also contact the bank through social media for support and assistance. Despite this, there is still room for improvement in the interaction between the bank and its customers via social media. It is possible for a bank to hold social media contests or polls or to offer exclusive deals to its followers on social media. In recent decades, marketing has become increasingly important for organizations to achieve their goals. The most important function of a marketer is to understand

and respond to customers' needs. A company's marketing message must be delivered to the right audience, as well as help the company reach those people. Apart from personal and business banking services, Barclays Bank also offers credit cards, loans, and investments. In addition to providing personal banking, business banking, credit cards, loans, and investment services, Barclays Bank also offers credit cards. As a result of its strong brand name and large customer base, the company is well known in the industry. In order to understand what Barclays Bank customers want and need, marketing professionals need to segment the market. A marketing segmentation strategy also allows marketers to tailor their marketing strategies according to the target audience they want to reach. A variety of products and services make Barclays Bank attractive to customers who seek financial services. Moreover, customers are looking for banks that are easy to use as well as those offering competitive interest rates. Customers are not the only audience for Barclays Bank's products and services. As well as targeting its employees, it also targets its customers. (Barclays, 2019) Barclays provides its customers with a wide range of goods and services. The product levels model proposed by Kotler (1967) can be used to describe Barclays Bank's core, generic, anticipated, augmented, and potential products. An institution's core business is to provide financial services to customers. Among its generic products is customer service. Customers expect their bank to be accessible as well as offer competitive rates. Bank loyalty programs are considered augmented products here. As the bank grows, it may offer more products and services.

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Gronroos (1987) suggested that Barclays Bank could be described by the Services Marketing Model for its core product, supporting products, and physical environment. Gronroos (1987) defines Customer Co-Production Model, which describes how the bank interacts with its customers. The bank offers customers a wide range of financial products, which make it one of the most well-known financial institutions. Banks facilitate customer service by acting as facilitators. A convenient location is an additional benefit the bank offers, in addition to a competitive rate. From a physical point of view, a bank's branch network constitutes the physical environment. The online services offered by banks contribute to the co-production of customers. Providing customer service is the result of banks' interactions with clients. The development of Barclays Bank's brand is described by a brand equity concept. The bank's strong reputation within the industry has resulted in its unique brand name being well known to its customers. By providing clients with products and services that meet their specific needs, Ritson (2012) describes how the bank has established its brand. In addition, because the bank offers easy-to-use tools and competitive rates, it has developed a distinctive brand. Developing these campaigns is the responsibility of Barclays Bank's marketing department. It helps the marketing team at Barclays Bank to better understand target markets by conducting research on their needs. Marketing strategies and plans can be tailored to the market's needs using this information. The bank's marketing department develops and implements a number of promotional campaigns to raise customer awareness.

As a result of the variety of marketing channels it uses, Barclays Bank reaches its target market effectively. TV ads, radio ads, print ads, and online ads are just a few of the types of advertising available. For reaching its target markets directly, the bank uses PR and event marketing. They can be reached in a variety of ways, not just through direct marketing. A close collaboration between Barclays Bank's marketing department and other departments within the bank assists it in aligning its products and services with its target markets. For efficient and effective marketing campaigns, a marketing expert team also works with external partners. Providing exceptional customer service is the goal of Barclays Bank's marketing team every single day. Our team is dedicated to providing high-quality campaigns tailored to the needs and expectations of the bank's clients. As Barclays Bank has grown, the marketing department has developed new and innovative ways to reach its target markets. Additionally, the bank's marketing department strives to implement new ideas and approaches to improve the effectiveness of its marketing campaigns in addition to being open to new ideas. It is common for global financial institutions such as Barclays Bank to have complex marketing strategies. A marketing team at Barclays Bank develops and executes marketing campaigns. Developing marketing strategies and plans tailored to target markets is the team's responsibility. To increase awareness of the bank's products and services, the team also develops and implements a promotional campaign. In order to reach its target markets, Barclays Bank relies on a variety of marketing channels. This category also includes print and online advertisements in addition to television and radio commercials. Additionally to direct marketing and public relations, the bank uses events to reach out to its target markets. Conclusion

Throughout Barclays Bank, the marketing department is responsible for making sure that the bank's products and services satisfy the needs of its target markets, and align those products and services with those needs. As well as this, in order to maximize the success and efficiency of marketing campaigns, the team collaborates with external partners. Keeping up with the competition by constantly finding new and innovative ways to reach out to its target markets is crucial to the team's success. REFERENCES Barclays (2019). Barclays Corporate strategy | Barclays. [online] Home.barclays. Available at: https://home.barclays/who-we-are/our-strategy/ . Barclays Bank UK PLC Annual Report. (2021). [online] Available at: https://home.barclays/content/dam/home-barclays/documents/investor- relations/reports-and-events/annual-reports/2021/Barclays-Bank-UK-PLC- 2021-Annual-Report.pdf. Drew, S. A. (1995). Accelerating innovation in financial services. Long range planning, 28(4), 1-21. Kotler, P. and Keller, K. L. (2016) Marketing Management. Harlow: Pearson Education. Making a difference Barclays PLC Environmental Social Governance Report 2020. (n.d.). [online] Available at: https://home.barclays/content/dam/home- barclays/documents/investor-relations/reports-and-events/annual-reports/ 2020/Barclays-PLC-2020-ESG-Report-2020.pdf. Mutua, A. M. (2012). Strategy and structure alignment at Barclays Bank of Kenya (Doctoral dissertation). Peppard, J. (2000). Customer relationship management (CRM) in financial services. European Management Journal , 18 (3), 312-327. Ritson, M. (2012). It’s an equitable brand life, Barclays. [online] Marketing Week. Available at: https://www.marketingweek.com/its-an-equitable-brand- life-barclays/ [Accessed 11 Sep. 2022].

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www.barclays.co.uk. (n.d.). Abbreviations on Bank Statement Meaning | Barclays. [online] Available at: https://www.barclays.co.uk/help/accounts/statements-balances/abbreviations/ [Accessed 11 Sep. 2022]. www.barclays.co.uk. (n.d.). Important information | Barclays. [online] Available at: https://www.barclays.co.uk/important-information/.

ION BRATIANU COMPONENT 2 (new 2 )

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