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advertising by Banks in Hong Kong: A Content Analysis

For many years, banks in Hong Kong did not emphasise advertising because the banking industry in the city was a protected industry. Theentry of foreign banks into Hong Kong was restricted so that competitionfrom these foreign 英国留学生广告营销论文counterparts was limited. On the other hand, aninterest-rate cartel was formed in 1964 and banks agreed to offeruniform rates to time and savings deposits of less than one year, therebypreventing the eruption of an interest-rate war. This interest-rate cartelsucceeded in channelling relatively cheap sources of funds to the banks.Moreover, loan demand was high because the economy was booming.In those days, making money posed no particular problem to the bankingindustry. As such, the use of advertising to keep the public informedon the activities of banks in connection with promotion of new businessand services was not considered a necessity.
However, this honeymoon period is fast vanishing. Starting in thelate 1970s, the Government of Hong Kong eased the entry of foreignbanks. Since then, the number of licensed banks in Hong Kong hasincreased rapidly. In 1977, the number stood at 74, with 803 bankingoffices. Towards the end of 1986, the number was around 150 withapproximately 1,500 banking offices. With a population of a little lessthan 5.5 million, it would thus seem that Hong Kong is overbanked.Additionally, the city also has over 300 deposit-taking companies.Against this background, one can very easily conceptualise theintensive competition among the banks.
As the number of banks grows, the market-place becomesincreasingly complex and the relationship between the consumer andthe banker becomes more impersonal. In order to compete successfully,banks must be able to deliver their messages to reach the right marketsegments with the greatest exposure in the most cost-effective way.Advertising is that way. Although the correlation between a bank'sgrowth and its advertising expenditures poses a question that cannotbe exactly answered, an advertised bank apparently is better knownthan its competitors and its services more publicised. A successfuladvertisement, backed up with good services, is undoubtedly one ofthe cornerstones of success in banking.
In Hong Kong, advertising has assumed an important role in thebanking industry. It was estimated that in 1984 the banks' advertisingexpenditures would reach HK$45 million, increasing to HK$58.4 millionin 1985.

Advertising of Services
The authors argue that a successful advertisement, backed up with good services, is one of the touchstones of success in banking. Nevertheless, bank advertising is not easy to plan or write.
Banks are service institutions. As the "products" offered by a bank fall into the category of service, bank advertising conceivably differs from product advertising. https://www.51lunwen.org/Marketing/In fact, there has been, and continues to be, a growing interest in services marketing. A pool of literature in marketing exists that deals with the marketing/advertising of services (e.g., Berry, 1980; Eiglier et al., 1977; George, 1977; George and Berry, 1981; Shostack, 1977)

References
Bateson, J.E.G. (1979), "Why We Need Service Marketing", in Ferrell, O.C., Brown, S.W. and Lamb,
C.W. Jr. (Eds.), Conceptual and Theoretical Developments in Marketing, American Marketing
Association, Chicago, pp. 131-46.
Berry, L.L. (1980), "Services Marketing Is Different", 本论文由英语论文网提供整理，提供论文代写，英语论文代写，代写论文，代写英语论文，代写留学生论文，代写英文论文，留学生论文代写相关核心关键词搜索。