An integrated marketing communications campaign for PSBank (Philippine Savings Bank/Metrobank Group)

• Main Author: Parra, Maivel F.
• Format: text
• Language: English
• Published: Animo Repository 2009
• Subjects: Savings bank > Marketing; Advertising > Banks and banking; Bank marketing; Communication in marketing; Philippine Savings Bank > Marketing
• Online Access: https://animorepository.dlsu.edu.ph/etd_masteral/4409
• Institution: De La Salle University

Philippines Savings Bank or simply PSBank is the thrift banking subsidiary of the Metrobank group, which is not known by many. Being a thrift bank, it is primarily engaged in retail banking which is the accumulation of savings and lending the money to borrowers in the form of personal loans, mortage loan, and auto loans. This paper will look at the external factors surrounding PSBank and the category it is in such as the impact of the U.S. financial crisis due to subprime lending, the consumer perception of PSBank vis-à-vis its competitors BPI Family Bank and BDO, the brand positioning, and value proposition among others. It will also assess the general environment on kids as groundwork for the new business proposal. As regards internal factors, products and services, branch network, financial performance, most importantly PSBanks assets and competencies will also be analyzed. The key issues identified and which this business proposal will address are as follows: 1. The decline of Savings Account and Checking Account of PSBank in 2008. 2. PSBank has strong association to the Metrobank Group that bolstered its image among its clients. 3. PSBank is not fast enough to respond to consumer needs. It has a weak image perception and branding versus primary competitors. 5. The need to set aside money to secure the future children and place it in a safe and interest beating financial institution. The main problem is the decline of CASA. To be able to arrest further decline for this year, the business strategy is to enter market segment which is what this proposal is all about. And to be able to compete, PSBank should be able to communicate it value proposition, maximize its assets and competencies, and develop sound strategies and communications that will be reflected in the Integrated Marketing Communications programs it will be recommending. 4. Loss of trust for banks and financial institutions due to series of events that unfolded like the collapse of the pre-need industry in the recent years, the financial crisis that broke last year, the receivership of banks and the negative image that owners created. The marketing objectives to be employed are: 1. To contribute 30% additional new CASA accounts estimated at Php210M to Php510M in 2009. 2. To establish a new market to the bank by appending to women depositors starting with a mother and child account. 3. To re-assure depositors of PSBanks strength by being a subsidiary of the Metrobank group. The big idea for the IMC campaign is: PSBank Smart Kid AccountIn My Hands. This idea conveys a positive message that the power to save and ensure a good financial future is in the Kids hands. It is a dream thats within reach, that can be achieved NOW, with the help of PSBank Smart Kid Account. It empowers both the mom and the kids to take hold of their financial future thru savings in PSBank. It gives the child the sense that money saved in a bank in PSBank is safe and earns interests.