Question:
Assume that you are the new Marketing Manager of a ‘real-world’ company that operates in
UAE or MENA region, providing a key product or service that has been customized,
adapted, or localized specifically to suit the MENA/UAE market; or which is
specifically produced locally in the UAE for the Arab market only. You have been
asked to familiarise yourself with the corporate objectives of the organisation, and t o
contribute towards the marketing strategies for achieving those corporate objectives for a
specific product of the company. The focus of this assignment is on the steps preceding
the formulation of t h e marketing strategies in a Marketing Plan – namely Situational
Analysis and Marketing Audit. YOU MUST CHOOSE A COMPANY FROM THE LIST OF COMPANIES PROVIDED BY THE LECTURER. Email the lecturer before the first class with your chosen company in order to obtain official approval of your choice, and to avoid duplication of work within the class. FIRST TO SELECT A COMPNAY; FIRST TO BE APPROVED
Solution:
Table of Contents
3.0 Organizational Overview.. 5
3.3.1 Financial Performance. 6
3.3.2 Marketing Performance. 6
4.0 Corporate Social Responsibility. 6
8.0 Evaluation of the Value Proposition. 9
9.0 Differentiation and Positioning. 9
10.0 Conclusions and Recommendations. 10
1.0 Introduction
This report critically analyzes marketing strategies integrated into Sharjah Islamic Bank (SIB) operations to generate an elaborate situational analysis. Regarding profitability and market dominance, SIB is one of the leading banks in UAE. It started society service in 1975 delivering banking services to people and entities (Mansoor & Ishaq, 2008). Founded as the National Bank of Sharjah it later converted to Islamic Banking in 2002. The bank portfolio includes Islamic banking, retail banking, corporate banking, investment banking and real estate. The scope of this report is the Islamic Banking product marketing strategies. SIB is one of the pioneers of Islamic business finance in UAE and globally, characterized by high-level innovativeness and flexibility to clients to leverage on optimal value of the gains and practicality of the product. The rationale for selecting SIB is to analyze the critical success factors in its marketing plan prompting its ascendancy in the extensively competitive banking industry in UAE within a short duration. Also, this report highlights the inapplicable factors limiting a leverage on specific marketing strategies and lastly generating recommendations for future progress.
In structuring of this report, it will include environmental analysis followed by SIB corporate social responsibility using a pyramid of corporate social responsibility. Also, the key target market and market competitiveness through competitive analysis using SWOT analysis will also be provided. The last section will focus on critical evaluation of the SIB value proposition, brand association and brand positioning with the most plausible recommendations to its marketing function provided.
2.0 Environmental Analysis
PESTEL (political, environmental, social, technological and legal) analysis is a tool for analyzing environmental factors informing on market risks and future trends in marketing strategies (Sohel et al., 2014). To build relevance on these factors, weighting of each of the macro-environmental factor using Likert Scale has been adopted. In computation, all the factors assigned weight have been critically evaluated using criteria of its strength and influence in UAE.
2.1 Political (3)
The UAE government involvement in SIB operation is indirect through the bank offering government institutions with a range of Islamic Financial products. Also, UAE government Investment and Treasury segment and other money market activities directly under control of the UAE government (Iqbal & Molyneux, 2016). Hence, the current ratings of the bank is a reflection of the strong capitalization, efficient performance and ownership structure dominated by Sharjah Government owning 30.7% (Emirates 24/7, 2017). SIB bank is exempted from regulations that abide private banking in UAE. Also, capitalization and business opportunities…………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………….. Please contact us to receive this assessment in full based on your organisation background selected for situational analysis and any other instructions
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