Marketing Management Assignment 2 Metro Bank plc was launched on 29 July 2010 with four branches in London. It was the f
Posted: Mon Jun 06, 2022 7:11 am
Marketing Management Assignment 2
Metro Bank plc was launched on 29 July 2010 with four branches in London. It was the first new high street bank to be set up in the UK in more than 100 years. Metro Bank planned to rapidly expand its network with up to 200 branches in the London area by 2020. By May 2011 it had expanded to six branches with another seven planned to be opened by the end of the year. The founders, including Vernon Hill, have borrowed more than £100 million to fund the setting up of the bank. Hill used to own the Metro Bank business in the United States before he sold it to a Canadian company.
Metro Bank operates in a highly competitive market which has been suffering from the effects of recession and considerable customer dissatisfaction with banks in general. The major high street banks in the UK have over 1,500 branches each although this number has been falling as banks try to reduce their costs. There is also a growth in internet banking which means that fewer high street branches are required.
In 2011 Metro Bank was in the Dog segment of the Boston Matrix for the market of banks in the UK with high street branches.
1a. Explain why Metro Bank was in the Dog segment of the Boston Matrix for this market.(5marks)
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Metro Bank plc was launched on 29 July 2010 with four branches in London. It was the first new high street bank to be set up in the UK in more than 100 years. Metro Bank planned to rapidly expand its network with up to 200 branches in the London area by 2020. By May 2011 it had expanded to six branches with another seven planned to be opened by the end of the year. The founders, including Vernon Hill, have borrowed more than £100 million to fund the setting up of the bank. Hill used to own the Metro Bank business in the United States before he sold it to a Canadian company.
Metro Bank operates in a highly competitive market which has been suffering from the effects of recession and considerable customer dissatisfaction with banks in general. The major high street banks in the UK have over 1,500 branches each although this number has been falling as banks try to reduce their costs. There is also a growth in internet banking which means that fewer high street branches are required.
In 2011 Metro Bank was in the Dog segment of the Boston Matrix for the market of banks in the UK with high street branches.
1a. Explain why Metro Bank was in the Dog segment of the Boston Matrix for this market.(5marks)
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