BNZ Situational Examination

 BNZ Situational Analysis Dissertation

The financial institution of New Zealand (BNZ), certainly one of New Zealand's (NZ) largest banks began operating in Auckland in March 1861. In 1992 the BNZ started to be part of the Countrywide Australia Bank group. Today the bank offers over one hundred and eighty retail stores and partner's' retailers across New Zealand and employs over 5, 000 staff. Market Environment

BNZ's product market is in Fresh Zealand, and its particular customers will be individuals and businesses living and operating within New Zealand. Almost all their customers will be aged 18 and over, whenever you must be at least 18 years of age to work with BNZ's goods, although father and mother may set up bank accounts for his or her children. You will discover 4. 42 million persons living in New Zealand, and also 470, 1000 enterprises within New Zealand, which means their particular potential market size is very large. Competitive Environment The main competitors of the BNZ are Kiwibank, Westpac, ANZ and ASB. There are additional smaller banking institutions in New Zealand but these are all their main competition. Kiwibank is usually 100% Fresh Zealand held and operated, while the BNZ is part of the National Sydney Bank group. Customers might feel more comfortable banking with an entirely Fresh Zealand owned or operated business. Westpac offers totally free workshops on managing money to their clients. Customers who do not have very good skills in managing their money may be even more inclined to bank with Westpac mainly because they offer this kind of service. ANZ offers bonus bonds, which give Fresh Zealanders an exclusive way to save and a chance to earn cash prizes. Macro-Environment (PESTE)

Technical Environment: Technology is constantly evolving. This gives BNZ the opportunity to gain competitive advantages over their very own opposition by simply developing and expanding their particular services. Due to the increased ownership of mobile phones and tablets, consumers are getting to be more reliant on Internet banking and mobile phone banking programs. Political Environment: The BNZ is listed as a financial institution under the Arrange Bank of New Zealand Take action 1989. " The Take action gives the RBNZ the " powers to join up and regulate...


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