Marketing Plan For MBNA Platinum Credit Card Assignment

merchandise Plan For MBNA Platinum impute Card - Assignment Examplecredit card market. MBNA kept issuing the credit cards with its protest brand identity till late in 2006, but gradually, all these cards will be replaced with credit cards from slang of America in 2007. Therefore while preparing a marketing externalise for MBNA Platinum cards we need to consider this aspect as well. MBNA Corporation also offers deposits insurance products and consumer loans. The US, UK, Canada, Ireland, Spain, Mexico and china argon the main operating areas for the federation, employing about 26,300 people. MBNA credit cards are offered on the MasterCard, Visa and American Express networks. It offers a variety of customized credit cards endorsed for affinity programs and for programs under its own brand name. The cards include standard, gold, Platinum positivistic and Quantum. term devising a marketing visualise for MBNA Platinum confident(p) cards for the year 2007, we need to think about two broad strategiesA marketing intention for MBNA forms an integral part of its broader business plan implying in words and numbers how, where and to whom MBNA proposes to sell its Platinum Plus cards, outlining the companys approach in attracting potential customers to its cards and convincing them to buy. In general the components of a marketing plan may include1. 1. Terms of Reference MBNA requires a feel of the market, particularly after its merger with Bank of America, renewed emphasis of ITES services from Europe, USA etc. towards countries like China and India, other cost shimmy exercises to take on the competition more effectively..2. Executive Summary Year 2007 may well shew to be a very happening year for MBNA on account ofIts merger with Bank of America, and the movement of completion of the merger formalities.The Platinum Plus Card will invite stiff competition from the likes of HSBC in UKUK market being very divergent will also present unique experience to the co mpany. While the strengths of both MBNA and Bank of America give the new organisation more strengths, their weaknesses too will work up matters difficult for it.MBNA needs to approach the prospective customer in order to enroll the new customer and continuously nurture the customer base in order to retain their loyalty.3. Marketing Mission and mass Stating the founding philosophy called the mission statement and company objectives provides the target/s to be achieved by the company and forms the guiding principles while doing the business. For example MBNA UK has a strategic plan that can be summarised in baseball club words, Success is getting the right Customers ... and keeping them. A mission statement needs to take tutorship of Key market, Key Contribution and Distinction of the company in selling this particular proposition.4. External Marketing Audit/ Competitor Analysis Such an psychoanalysis in the marketing plan helps in explaining in detail the external challenges and opportunities a business may face in the coming year. Such an analysis will help in identifying the competitive strength of MBNA while taking cues from competitors strengths. Some of the top competitors of MBNA are Capital One Financial Corporation, Citigroup Inc., HSBC Holdings plc, JP Morgan Chase & Co, KeyCorp, Morgan Stanley, Wells Fargo & Company, Comerica Bank, Discover Financial Services, Inc. etc. HSBC for