Research of Barclays Essay Example | Topics and Well Written Essays - 1000 words

Research of Barclays - Essay ExampleIt excessively sponsored many big and major events also. This list of sponsorships may include Premier League, authoritative sports events e.g. tennis, golf and foot egg tournaments, the Churchill cup etc. Barclays is the second largest bank in the United States (Salz, 2013). There are also certain contr everywheresies which are associated with the name of Barclays as it is very usual matter that every banking institution is usually vatic to be involved in the money corruption cases. Same is the case with Barclays, most of the competitors tried to take a leak a bad word of mouth regarding the Barclays bank but it was not successful and the popularity of the Barclays bank is tranquillise in the minds of its potential guests (Skinner, 2011). Need for Marketing Research Due to difference in the customer ineluctably and choices the Barclays bank is also trying to serve them at every level. That is the reason of having different banking products and services so that customers of different discussion sections can be targeted easily (the Beans Group, 2012). When any company has such a versatile cordial of target market and customers then there is a need of market inquiry so that saucy and prevailing trends in the market can be analyzed efficiently. The promotional tools of the banking products and services would also be different for different customers. While doing market look the company should be capable of covering be and also sell the product at a profit. They should also be able to handle the judge problems of the new segment (FAO Corporate document Repository). Marketing Research at Barclays There is so ofttimes competition in the banking industry that every bank has to be vigilant about the opportunities arising in the customer market so that it can be grabbed at once and then lay down a counterbalance mover avail in offering new services to its potential customers. To achieve this vigilance by the company the marketing research should be very much active and effective also. Marketing research actually means to collect the customer related data from the market segments and thus analyzing it in comparability with the companys resources and also the cost involved. This marketing research also helps to devise future plans for the company. Barclays have analyzed the potential in the students target market and thus do a market research to find out whether this would be a profitable decision to launch any product regarding this segment (Havard Business School, 2013). Barclays have considered the students as the major segment to be invested in. They did a marketing research in order to analyze the potential of this specific market segment (Elizabeth, 2012). Barclays has a competitive advantage over other companies due to the geographic area it has covered (Barclays PLC Bank Annual Report, 2012). On the basis of this advantage Barclays can compete over them in the future also by serving muc h and more segments. The research and discipline department of the Barclays is very effective. The research team provides actionable ideas that are based on the consumer preferences (Barclays PLC Bank Annual Report, 2012). At first the company which is going for market research should focus on its own image created in the customers eye (Gerber). In this way it can be easily analyzed that how the population of that segment will perceive that companys product. The research and development department at Barclays efficiently try to cover all the possible segments of the consumer market and even also made valuations and other