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Competitive Strategy

Bank Asia employs a broad differentiation strategy by focusing on customer satisfaction and continuously innovating products to provide supreme value to both customers and stockholders. It uses defensive strategies like maintaining market share and reinforcing its market position to make it difficult for competitors to gain market share. Bank Asia also uses offensive strategies like advertising promotions, pricing offers, and offering a variety of products to target competitors' weaknesses and emphasize its own strengths compared to rivals.

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Mirza Galib
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63 views3 pages

Competitive Strategy

Bank Asia employs a broad differentiation strategy by focusing on customer satisfaction and continuously innovating products to provide supreme value to both customers and stockholders. It uses defensive strategies like maintaining market share and reinforcing its market position to make it difficult for competitors to gain market share. Bank Asia also uses offensive strategies like advertising promotions, pricing offers, and offering a variety of products to target competitors' weaknesses and emphasize its own strengths compared to rivals.

Uploaded by

Mirza Galib
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Competitive strategy Of Bank Asia

Course Title: Strategic Management


Course Code: MGT-600
Sec: 02
Summer 2020

Submitted To:

Dr. Md. Zahid Hossain


East West University

Submitted By:

Mirza Galib
ID: 2017-3-95-017

Date of Submission: - 7th August, 2020


The Five generic Competitive strategies

“Bank Asia Limited belongs to Broad Differentiation Strategy”


Broad Differentiation Strategy
The essence of a broad differentiation strategy is to fully understand the psychology, needs
and emotions of the mass consumer in order to create a product that specifically meets those
needs in ways that nobody else is meeting. Businesses with a broad differentiation approach
can charge higher prices for their products, which sometimes results in a higher profit margin
and loyal customers who cannot get their needs met in the same way by any other business.
For instance, Nordstrom is known for customer service and their incredible shoe department.
On the other hand, other companies may copy your offerings, customers may not be excited
by what you offer or you may exceed consumer needs, such that they are not willing to pay a
premium price tag for your offerings. When these unexpected bumps in the road arise, it can
be easy to overspend on advertising and erase your profit margins.

Bank Asia focuses on customer’s satisfaction along with stockholders benefit. It continuously
innovate its products to provide supreme value to both customers and stockholders.
Offensive & defensive strategy of Bank Asia

Defensive Strategy

Defensive strategy is defined as a marketing tool that helps companies to retain valuable
customers that can be taken away by competitors. The principle of this defensive strategy is to
make difficult for the competitors to acquire the market share and the new entrants to access
the market. Customers’ perception toward the brand with the relation of others in the same
market is important in here. Bank Asia try to deal with potential customer with its reputation.
Objectives of a defensive strategy: -

1. To maintain the existing market share and to maximize profitability


2. To reinforce existing market position
3. Weaken the product of the competition.

Offensive Strategy

An offensive strategy seeks to attack the market by targeting the weaknesses of the competition
and emphasizing the company's strengths in comparison. Identifying the competitor's advantages
and disadvantages is the main challenge in here. Competitor's product strengths must be reduce or
ignore while emphasizing weakness.
Bank Asia like to play offensive marketing rather than defensive strategy by offering various
lucrative offers with best products quality. Here is some offensive strategy followed by Bank Asia-

Advertising & Promotions: Bank Asia always try to give new offer to his
customer.

Pricing & offer: As Bank Asia give huge offer it give them competitive advantage
and they also can enable them to charge less from his customer.

Varity Product: Service range is another strong side of Bank Asia. They offer
verity type of Service where other competitor can’t even think of.

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