Competitive Analysis and Marketing Strategy of Mbl Student Credit Card
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Competitive Analysis and Marketing strategy of MBL Student Credit CardSMARIKA PAUDEL        BUS 510 Marketing Management        Presidential Business SchoolSubmitted To:Westcliff UniversityMrs. Ajanta Das Dutta 1st August , 2019AbstractI am currently working in Machhapuchchhre Bank limited in Digital Banking Department. Market is getting more intense and competitive. In order sustain and succeed in this highly competitive market, every companies are obliged to come up with the analysis of competitors and the strategy to deal with them.This paper includes discussion on one of the product of digital banking department “Student credit card” which is a new concept in context of Nepal. This paper includes study of Marketing Mix i.e. price, product, promotion and place as applied in this product .This further includes marketing strategies and analysis of potential competitors in the market.IntroductionCompany Profile Machhapuchchhre Bank limited, “A” class commercial bank is serving Nepal since 2000 AD. From the very initial startup from Pokhara city, they have extended their business to the place where they are currently operating 131 Branches, 116 Branchless Banking units and 145 ATM’s all over Nepal (Our Profile, n.d.). Furthermore, during the running year, the Bank has been aggressively expanding its branch network to expand its scope of service throughout the national level. Product Description Student Credit card is a credit card scheme designed to cater to the short term credit requirement of the students pursuing undergraduate and graduate and post graduate studies. A student credit card is issued exclusively to students at college level.  These cards require lesser documentation and simple process for procuring the card. In case a student wants to apply for student credit card, the only document required includes residence proof and enrollment proof in any educational institute.  ObjectivesMBL Student Credit Card Scheme aims at providing financial support from the banking system to those students who is studying their Bachelor/Masters from institutions recognized by the Government of Nepal, and are unable to pursue higher education due to financial constraints.The main emphasis is that students are provided with an opportunity to pursue higher education with the financial support from the banking system with reasonable and affordable terms and conditionsCompetitive Analysis of the product (COMPETITIVE ANALYSIS, 2017) describes competitive analysis as the significant necessity in any strategy since it.(a) Uncovers the associations aggressive position in the “advertise space”, (b) Helps you to create strategy to become competitive in the market.(c) Associates and other readers of the business plan will expect it.The competitive analysis is a statement of the business strategy and how it relates to the competition. The purpose of the competitive analysis is to determine the strengths and weaknesses of the competitors within your market, strategies that will provide you with a distinct advantage, the barriers that can be developed in order to prevent competition from entering your market, and any weaknesses that can be exploited within the product development cycle.

Competitive analysis of the company can be discussed in two partsIndustry analysisThere are altogether 28 commercial banks in Nepal and The Nepalese financial industry has been portrayed by strong competition with the persistent increment in the quantity of banks. After the section of joint endeavor banks and afterward the prospering of Nepalese private keeps money with the new meaning of and way to deal with banking, the entirety banking industry when all is said in done, and the past monopolist state-claimed banks specifically are under the strain to continue their focused position (Subedi, 2018). This circumstance has, consequently, involved the Nepalese banks to plan and renovate their aggressive procedures in a way to achieve higher performance and profits.[pic 1]Figure 1 Data of Digital Banking Usage (DIGITALIZATION IN BANKING AND FACTORS THAT MAKES, 2019)Despite the fact that banking institution are focused on upgrading budgetary consideration through digitization of banking transaction, its pace is delayed in Nepal. The money related framework is never again a privilege of banking establishments because of development and use of innovation in conveying items and administrations. New players, for example, telecom and Mobile Network Operators (MNOs) have developed as a solid power in conveying the monetary administrations through innovation based items and conveyance channels. ATMs, Visas, check cards, specialist banking, versatile banking, branchless banking, among others, are getting to be famous nowadays to improve individuals entrance to money related administrations  (DIGITALIZATION IN BANKING AND FACTORS THAT MAKES, 2019).Competitors analysisAlong with Machhapuchchhre bank limited, there are other competitive banks in the market taking good pace in digitization of banking facilities Some of the competitors bank like Laxmi Bank, Kumari Bank, Sanima Bank, Nabil Bank, SBI Bank and so on has been persistently finding a way to update the frameworks and forms and embrace world-class advances to encourage banking administrations to its clients in Nepal. Strength SBI bank has made a tremendous stride towards digitalization by opening Nepal SBI In Touch outlet at Durbar Marg, Kathmandu. The In Touch outlet not just gives Alternate channels to our clients for banking yet in addition helps in making paperless banking a reality  (DIGITALIZATION IN BANKING AND FACTORS THAT MAKES, 2019). To begin with Nepal SBI In Touch Outlet at Durbar Marg offers following administrations like Account opening, charge card printing, Internet banking issuance, check Deposit, Cash Deposit/Withdraw. Moreover, SBI has thought of the different Auxiliary administrations where they offer In Touch outlet, Nepal SBI Advanced Village, IRCTC Ticket Booking Facility Using Ebanking.

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Machhapuchchhre Bank And Competitive Analysis. (July 4, 2021). Retrieved from https://www.freeessays.education/machhapuchchhre-bank-and-competitive-analysis-essay/