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Executive summary
The present assignment is based on advertising as well as the management of the internet. Digital advertising management is the key tool for reaching the target audience. In this study, the chosen company is MayBank and here the case study has been provided. It discussed the Malaysian company and a clear description of the company’s background had been given. It also describes the website layout as well as makes an analysis regarding it. Analysis of different strategies has been presented and it also witnesses some mechanisms related to the assignment.
Introduction
MayBank is a Malaysia-based financial banking company established in 1960. Since the beginning, its fundamental key content is to humanize financial services. This is a case study about the websites of MayBank where an in-depth analysis of the description of the layout of the website has been given. The strategies and mechanics used in the website are elaborately analyzed. This study shed light on various aspects such as the importance of strategy, the role of strategic professionals in the internet advertising and management process, and the planning and management of skills. A brief discussion on the background of the company is also given.
Background
The key tagline of MayBank is humanizing financial services. The company has a fundamental core value, that people are the driving forces in the context of business development. There are currently around 42 thousand employees working under the same core values designed by the company.
Figure 1: MayBank stock price and chart
(Source: tradingview, 2022)
One of the aims of the company is to strengthen several communities across south-east Asia by expanding its services, providing simple financial services to all levels of people in society. An efficient workforce of this financial group provided a 380% increase in income . The company has been recognized for its services and awarded several continent-based honours such as best investment bank, best sustainable bank, Project Finance House of the Year, and many other awards this year.
The bank put emphasizes environmental sustainability, and the target of its several operational practices and policies is to produce a low-carbon economy. The investor engagement approach of the bank is to build trust and confidence and manage a transparent relationship with the international investor communities One of the keys to the success of the bank is that they simplified the banking service to their customer. Most importantly, this bank has an informative website for its customers and other visitors.
B2C and B2B of the business
B2C and B2B both are considered the most important aspect of a business. Here, B2Brefers to the concept of “business to business” whereas B2Cstands for “business to consumer” aspect. B2Bmainly uses the online platform for the selling of products as well as services whereas B2Crefers the ecommerce of the “personal consumers” . MayBank will have to apply “electronic communications” as well as new technology for this process of B2B. It can be referred as the “trade tool” that can help the business. B2C reflects the buyer behaviour and it includes the explicit as well as implied behaviour. The former one describes the providing of data by a user whereas the second one refers to the observation of data driven process.
Analysis of the website layout
A website layout incorporates different things and analysis of the website is referred to as a practice of testing as well as analyzing the performance of a website. Here the chosen aspect is MayBank or Malayan Banking Berhad . Understanding the layout of this website is an effective part here for the proper description. This website describes that people are the driving force behind every matter and empowering the communities is an important aspect here. It leads to positive as well as sustainable growth regarding sustainable communities.
Strategy
Strategy is the most important part of analyzing the layout of a website. Strategy is good for achieving the goals of a company and here an effective strategy for the website can help MayBank to achieve its goals. Therefore, it can be said that strategy leads to the success of a website. The visitors of the website can get a clear idea or sense about the company of MayBank as well as its services. The strategy will describe the purpose of the site as well as a clear description of the target audience.
ADD 4Ps HERE AND PROVIDE A HEADING
4Ps of Marketing
The 4Ps of marketing are the key considerations that need to apply wisely for successfully market the service of product. The 4Ps are accordingly “Product, Price, Place, as well as Promotion”. They are differently named and it is the “marketing mix” and they mainly include a range of factors as well as related to the marketing of a product.
Products: The Company MayBank and its products decisions are most important here. It gives focus on branding as well as packaging and here the brand name communicates the attributes as well as meaning . Advertising is the most important aspect that creates as well as maintains the brand equity. Packaging is another aspect which has become increasingly important. It relates to the first exposure of the customers to the product.
Price: There are pricing considerations related to this company and it is said that the price must have to be consistent with having product perception. It defines that high price is related to the high quality of the product . LP or lower price reflects the perception of “value”. Advertising, price, as well as distribution must have to be unified for the identification of products. It is presented that a product having high quality as well as low price that the competitors can confuse the customers.
Place: MayBank is a Malaysian company and the development of positioning platform is most important here. The identification of customers, accessions of perceptions of them, determining the location, and analysis of preference of the consumer are important.
Promotion: Promotion is most important as it points out the stands, racks, as well as displays of sale. It witnesses special displays and trade deals, gifts, prizes, as well as dealer premiums . Promotion includes cooperative advertising deals, materials for advertisement, as well as company conventions.
Usability
The website should be easy to use and it should not take time for loading the pages. Different factors that are related to the user and their experience will have to be considered. Understanding the messages that are present within the website is most important for the audiences who are visiting it. It will help MayBank to evaluate its services to people.
Figure 2: Website layout description
(Source: Bin et al. 2018)
Style
Style is an important aspect of the website layout and it will help to attract customers. The best designs will have to be aligned with the brand and it will create a positive impression on the visitors . MayBank with the presentation of this layout can make a good impression on the visitors and the use of the internet will be helpful here.
Content
Usefulness and readability are considered to be the two most important considerations related to the content. The use of the aspect of readability is essential because it will attract visitors. It is noted that if the visitors cannot understand the content, they will never visit the site again, and therefore, having clear, as well as attractive content, will help the visitors to understand it properly . The content that is conveyed to the visitors is mainly based on the structure of the website. It performs a great role in the structuring of information that is present on the site.
Search optimization
It is important to understand that both the website designs as well as optimization of the search engines are not different factors. The way that is most important here is that will affect the search rankings and help in making adjustments as per need. Therefore, it is called that a website is a pattern that defines the structure of a website. It is also the arrangement of all the elements that are visual on a webpage.
A reflective approach to promotion by using the internet
This Strategy is the most important and strategic planner has a great role in the advertisement of the management process. I have learned the idea that the internet nowadays is the most common as well as an important platform for the promotion of a company. Here, the most important aspect is the use of the internet and it has an effective role in the purpose of promotion . A company can develop its promotional strategy with the use of the internet. Therefore, I have seen that using the internet will help MayBank to promote its company.
Analysis of strategies and mechanics
Website is an important part of an organization and it helps the respective sector to access various services. The websites of the banking sector allow the customer to make transactions online and provide many other facilities. It made the banking system run smoothly and consume less time (Tyagi, 2021). Maybank is a bank in Malaysia, which has also developed its own website. It takes many strategies to develop a website, like, the goals of the website, information about the infrastructure and so on.
Objectives of the business through website
It includes different objectives of the present research and they are described below:
- To find the Ads that seeks the consumer’s immediate reaction
- To search the persuade reader for persuading the readers for contacting the advertiser for the purpose of more information
- To know the importance of Ads for reinforcing the consumer perceptionfor the brand
- To find target, analytics, as well as interactivity of the research
The website of the business is developed with the different direct actions that are helpful for the development of the business objectivise. The applied advertise helps in simulation of the consumers’ reaction. The available options are rich enough to attract the consumers like an easy step to open account online, provide weekly newsletter.
Figure 3: Strategies used in developing the website of Maybank
(Source: Ali et al. 2021)
Maybank maintained the required strategies to develop its website. They have developed the website based on the strategies like the security of customer details, mobile or internet banking, transparency of terms and conditions and availability of e-statements.
Security of customer details: The details of the customer are safe on the website; no one is allowed to access that information. The information regarding the customer details as well as their bank details are kept secure and protected.
Mobile or internet banking: Its internet banking system is very smooth and easy as the customer passwords are not saved in the website. It proceeds with the online transaction only when the customer allows with their pin and sends an alert to the customer before as well as after every transaction . This is structured in a way that customers can access it anytime, at any place through their mobile. It gives detail of the transaction done through internet marketing are available in the transaction history of mobile banking.
Transparency of terms and conditions: The bank has some conditions and terms that they maintain for various reasons. The detail of these terms is available on the website and they provide these terms when customers go to sign up for internet banking.
Availability of e-statement: It helps the customer get the detail of the transactions made both online as well as the offline basis. The customer would get the transaction detail on the website . The customer can generate an e-statement and get complete detail on the website.
They also provide information regarding the infrastructure of the bank, its branches and its employees. The detailed data about the number of branches all over the nation the total number of employees with their designation as well as posts are available in the site. The business detail of the bank is also provided on the website. This maintains mechanics to improve the banking system, as well as, to make it safe and secure.
Mechanics: Every banking sector has its own strategies to attract people. Nowadays everything is based on mechanical form as example banking sector also made its own websites to attract consumers. There is a mechanical sector to handle the consumers. Customer service is the most priority part of a bank. Bank has to create websites very smoothly so that the customers do not feel irritated to find anything about the bank. The website is very user-friendly. It is not so difficult to search for something and cannot find it.
Conclusion
It can be concluded that the internet advertising and management of the MayBank covers a broad range of information about its services. The visitors of this website can get an effective overview of the bank and also other features of the website provide in-detail data about the bank’s services and its core beliefs and goals of MayBank. The key feature of its services is uniquely designed on the website not only information regarding its services but also the history of the bank, its achievements, its sustainability journey, and its relationship with its investors providing a transparent image of the bank.