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While many industries have been impacted by the Internet-era, the banking sector is an industry that has faced numerous environmental challenges. They have been impacted by new competitors, changing technology, record low interest rates, different consumer buying approaches, new distribution channels, and so on.

As a result, traditional banks cannot maintain their existing marketing strategy. They need to be able to adapt to the current environment and find a suitable long-term strategy that will enable them to achieve ongoing profitability.

For this task, you will be required to assume the role of the marketing manager for a hypothetical mid-sized retail bank. You will need to identify the various trends and environmental impacts that are affecting retail banking and then decide upon a suitable course of action – that is, a competitive marketing strategy.

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