Background
The following report will further examine the RBC Royal Bank brand, critically examining two promotional examples and how it uses IMC tools and channels to achieve their positioning. RBC Banking has successfully positioned itself as a friendly, approachable bank successfully reaching out to people who are in a more established stage in their life. This older demographic consists of people or couples who are ready to buy a house or attain a mortgage, going to make a large investment or looking to invest. Despite a more older generation as their primary target audience, they have made significant efforts to appeal to Millennials with targeted advertisements and promotions. As previously in the Positioning Analysis, the connection between
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RBC has been a major sponsor of this event for the past several years, and as previously mentioned in the positioning analysis, a sponsor of multiple events and supporter of many causes. RBC’s contributions to concerts, and events such as TIFF resemble its initiative to culture, as well as dedication as a brand to target Millennials. This alternative marketing program takes the form of lifestyle marketing, in an attempt to associate with the hobbies and entertainment of Millennials (Clow & Baack, 2015). The strategic sponsorship was in hopes that movie-goers would be inclined to try RBC’s products, almost seemingly in an attempt to rejuvenate its professional brand appearance and make it more appealing or approachable to this target segment. RBC’s presence at TIFF includes free giveaways, popcorn, ability to sign up for a TIFF-RBC-branded Visa card (as depicted in Figure 1), as well as hosting the RBC Emerging Filmmaker Competition (Fraser, 2013). It was further stated by an RBC marketing executive, that the branded Visa card was an experiment or promotional tool used to push RBC’s role as the official bank of TIFF (Fraser, …show more content…
This is one of RBC’s most recent campaigns to date which has been featured at TIFF events (Figure 3) and is still relevant on multiple social media and advertising channels. The premise of the campaign was to “better understand its customers needs and goals; what they’d like to make happen “someday”... whether it’s big or small,” according to an RBC executive (Martin, 2014). The campaign consisted of customer-submitted videos that showed their “someday,” offering multiple cash prizes for the best video. The design of the campaign is meant to engage the user through emotional appeals with the storytellings of people's goals and dreams, almost trying to establish a bond with the brand with this use of appeal (Clow & Baack, 2015). The campaign proved to be successful with thousands of entries submitted. The sheer technical aspect of user-submitted videos makes it an inexpensive campaign to outreach to customers, with the experiences of these people resonating with other people or new potential customers. While this campaign appeared to be one of the strongest in my opinion (in a general sense), I found that it was potentially too broad of a campaign, lacking the specificity or aim towards
Given the Commonwealth Bank Group’s franchise position, the organisation aims to capture the opportunity to generate growth domestically and outside of Australia by identifying and meeting more of the needs of its customers.
The video I have chosen was a 2016 Cheerios commercial displaying father’s dancing with their children. I personally feel the world is overfilled with marketing and advertisement schemes however, something about this commercial I enjoy seeing. It portrays pathos through its cheerful song and dance among happy, healthy children and their fathers. The audience, receives feelings of happiness, love, care and fun upon viewing it. The commercial is placed within the bright homes of several different families. Where they, with energy and happiness, present their own father and child dance routines. A healthy long living life, spent with family is a message everyone desires. It creates a connection with its targeted market; families and older adults. This connection is created through showing everyday families having breakfast and making the most out of the time they spend together. This also can also
In this documentary, PBS uncovers the evolution of marketing. Marketing has moved from targeting large groups, to targeting individuals and smaller segments. With so many messages being transmitted through the media, the line between what is being absorbed and what is not has become blurred. Getting through the clutter is difficult. Every thing is done to break through the clutter. Therefore, marketers need to market to only those who really want to hear the message, and to get those people that hear that message, to have an emotional response to it.
A customer strategy that CBA utilise to enhance the customer relationships with the brand is new high-tech ATMs. The advanced ATMs can now communicate with consumers by asking a series of questions to better learn their financial needs and wants. The questions asked consist of an approach to figure out what financial goals consumers have and the shaping future of the market, for example 'Is the Australian property dream still a reality?, Do our kids have the skills they need for tomorrow?. With the upgrading of the ATMs, CBA are able to minimise gaps within their consumer market, fix and strengthen these consumer relationships, as well as access many other benefits. The first benefit
Amazon.com spends a substantial amount on Web advertising and marketing. The firm spent over $340,000 for the first half of the 1996 and ranked 34th in Web ad spending. Since then, however, these expenses have gone up significantly. Also, the firm invested much on their warehouse and state-of-the-art distribution center in New Castle, Delaware. Amazon.com turned its inventory 150 times a year. This make the firm have a lower cost structure than physical stores. Their marketing and operation cost kept the firm a deficit. By August 1996, sales were growing at 34 percent a month. The firm posted revenues of $147.8 million for 1997, an 838 percent increase over the previous year. However, the net loss for fiscal 1997 was 27.6 million, compared to a net loss in fiscal 1996 of $5.6 million. The firm claims to have exceeded expectations and has made its business plan more aggressive.
In today’s market of technology and visual stimulation it becomes more and more important for advertising campaigns to stand out and be innovative, and it is this idea that drove one Canadian beer company to do something that had never been done before. In light of waning interest, Kokanee, owned by the Labatt Brewing Company, enlisted the help of Toronto based Grip advertising agency to (with its entire yearly marketing budget) create something really big for there next campaign. Grip’s innovative response to this challenge was to do something completely new and create an ad in the form of a full-length feature film, which they would call: “The Movie Out Here”
There are different ways on which brands can reach their customers and connect with them. Online Screen channels are becoming of main interest for brands to advertise in. From this, Youtube has become one of the main platforms on which brands decide to promote their content, not only because it is cost–effective, but because it can achieve a high impression by reaching a large audience. Different campaigns such as Volvo’s “The Epic Split”and Carrie’s Telekinetic café prank, prove the efficiency of such platform, and how different brands can take advantage of this to achieve viral marketing, such in the case of Bud Light’s Super Bowl “Up for whatever” campaign. The way in which the business approaches the consumer by taking advantage of
In relation to promotions we believe an Integrated Marketing Communication (IMC) strategy would be the best way to proceed. Through IMC the brand will be able to maintain a personality and attitude that communicates effectively with the target segment. It will also help to build a desirable ‘brand image’ and relationships with consumers and distributors. The marketing activities will be very specific. It will involve a range of communication mediums including advertising, media, public relations and sales promotion.
CIBC has focused its core business on retail and business banking, wealth management, and whole sale banking. They have shown a proven track record of providing there customers with financial services and advice through a group upwards of 1100 branches worldwide. Strategies CIBC has portrayed is to continually find new ways to enhance the experience of the client and to stimulate safe revenue growth. CIBC has put emphases on creating deep meaningful relationships with all clients, constantly trying new ways to improve service and sales prospects and to create relationships with new clients while retaining existing clients for a long period of time (CIBC).
I had the opportunity to listen to Frank Merchlewitz in my marketing principles class, MK217A, taught by Dr. Shelly McCallum-Ferguson. Merchlewitz is the digital content creator for the Minnesota Orchestra in the Twin Cities. He discussed his role as the the contest creator and how businesses and organizations use multimedia content to promote their messages. Merchlewitz is a graduate of Drake University, where he earned a degree in e-media (digital media). The speaker showed us some of his work for the Minnesota Orchestra and his personal work at Saint Mary’s. At Saint Mary’s, he created a few marketing videos for our school showcasing graduation and everyday life at the university. At the Minnesota
You raised some really valid points about RBS Bank. In order to gain the trust of its stakeholders, the bank needs to take account of its social, environmental and economic impact going forward. RBS's executives should have an understanding of its culture deeply in order to know its issues and how to make adjustments to its business strategy. There is still a long way to go to repair the bank’s reputation, finances and the economy.
Showcasing sponsor’s logo in e-book, posters, newsletter, blogs, podcasts and social networks make a positive perception of your organization and will increase brand awareness or affinity of your organization. In addition, the screen credits are a crucial area, these are how the audience will positively judge organization brand and credibility. Furthermore, this documentary film series provides an amazing opportunity to share
The Royal Bank of Canada (RBC, RBC Royal Bank, or RBC Financial Group) is the largest banking institution in Canada. RBC serves more than 18 million clients and has over 80,000 employees distributed all over the world (RBC 2008). The company corporate headquarters are located in Montreal, Quebec, and its operational head office is in Toronto, Ontario. RBC is listed as the largest Canadian company by revenue and market capitalization by The Globe and Mail and was ranked at 50 in the 2013 Forbes Global 2000 listing. The company has operations in Canada, and 51 other countries (RBC 2011). In May 2004, the Royal Bank of Canada experienced a crisis which involved a programming change to an essential piece of banking software. Generally, this is
Marketers can combine a variety of IMC tools to create brand value and avoid potential conflicts (Duncan & Everett, 1993) rather than separate practices to produce manifold messages about the same brand. However, companies can no longer be tied to a specific communication tool such as advertising. In order for consumers to get uniformity message and brand information, Reid (2005) states that marketers should fully apply IMC to capture audiences’ attention and convince them to have high perception of product and brand.