| “The world's local bank.” It's a phrase which instantaneously interlinks itself with HSBC,yet despite the leading lender shaking off this slogan years ago,its powerful message still lingers.In 2002,HSBC rebranded itself as “the world's local bank”,a term which accompanied with a host of clever and memorable advertising campaigns propelled HSBC into the international public eye.However years later,the bank felt it could no longer live up to this title.Like several other leading banks,HSBC was struck by the horrors of the financial crisis and had to find ways of picking itself back up in the aftermath.In 2011 HSBC decided to reshape and refocus how it worked as a business,which involved a string of cost-cutting measures,scaling back retail operations and inevitably,the phasing out its iconic motto.HSBC,Bangkok branch is one of those offices that HSBC decided to cut the retail banking and remove marketing department from the bank.Despite not seeing itself as “the world's local bank” anymore,however,local knowledge and understanding of Thai market is crucial for the bank to grow the business in Thailand.Localization marketing strategy is the key to establishing a global identity into local identity.When company sells a product to another market,the company wants it to resonate with the intended audience.Localization is how company causes that resonance.In this research will focus on analyzing localization marketing strategy in a case study of HSBC,Bangkok branch in Thailand.The bank is one of international banks in Thailand providing products and services to corporate clients only,the bank is well-known among the top Thai companies,therefore this dissertation attempt to assist the Bangkok branch in generating more earnings and improve plan to integrate localization marketing strategy to strengthen the bank performance and optimize profit.The primary objective of this research aims to study and identify the current situation,problems,and opportunity of the bank in terms of localization marketing approach.A researcher employs qualitative research and secondary information sources.This research utilizes a variety of sources;interview,observation,field investigation,and academic research on the database.The researcher has explored varied of different localization marketing relate topics in recent years,generate scores of papers,research reports,articles,and books.This research identifies some of the analysis,defining problems and propose solutions,influence from an academic perspective on relevant topics that have been learned such as marketing strategy,marketing research,localization,and banking strategy.The research is structured into two parts which are the theoretical framework and the empirical part.The theoretical framework will provide ideas of the thesis methodologies.Those ideal frameworks can help for the solution and defining the suitable suggestion for the bank.The supporting theoretical framework contains such marketing localization framework and glocal strategy.The other specific tool is the three-hyper strategies which is a new way to develop their products,services,and communication strategy to meet the demand of customers.The empirical part start with an analysis of recent HSBC,Bangkok branch marketing practice,propose problems,solution suggestions,and the implementation plan.The most important part is the suggested localization marketing strategy for the Bangkok branch,the whole concept of solution which use marketing research and banking strategy in the literature review part and the theoretical framework help stimulating a solution plan to the bank.The author aims to present how localization marketing strategy would help the bank to gain competitive advantage and stand out from its local and international banks in Thailand and forming a marketing strategy to successfully achieve its objective. |
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