Consumer Behaviour Assignment Example | Topics and Well Written Essays - 2750 words

Consumer Behaviour - Assignment ExampleThis paper lead be focused on the marketing practices of the Lloyds TSB bank in its endeavours to retain its customers. Lloyds TSB is a retail bank that is based in the United Kingdom. It was established in 1995 by the merger of Lloyds bank and the TSB group. Lloyds bank was origin anyy founded in Birmingham in 1765 while the TSB group, a rival bank, was create in 1810. The marketing motley of Lloyds TSB has seen it realise admirable profits through the years. The marketing mix elements, also known as the 4ps, are price, place, product and promotion.In simple terms, a product includes all features as considerably as goods and related services that a business offers to its clients. The product is the most all-important(a) component in the marketing mix. This is because products are the market expression of the manufacturers productive capabilities. Products insure a producers capacity to link with customers. A product policy or scheme is o f enormous significance to a corporation product decisions dictate the scope and direction of industry bodily function (Singh, 2011). Additionally, market indicators such as profits, sales, image and market share are also dependent on products. The products of companies also influence other components of the marketing mix. Therefore, without proper product policy, a corporation cannot pursue barely elements of the marketing mix.With the rapid advancement of technology, a banking company has no choice but to advance as well in order to satisfy the desires of its clients and remain competitive. The Lloyds TSB group boasts a diverse set forth of services and products that cater for a large clientele. The banking options available to its customers include the border bank as well as internet banking. Customers can also text financial information from a mobile phone and make use of cash point