Analysis of Internet Banking in the Commerzbank
Analysis of Internet Banking Final Report Marketing International Professor: C. ... HISTORY OF COMMERZBANK 3 III. ... Importance of Commerzbank in markets 4 III. ... 2 Importance of the internet in its marketing strategy 6 III. ... 3 Importance of Commerzbank in e-markets 7 III. ... Internet has been first used by the secret services in the United States but once it came on the market, more and more companies have started to use it. ... Internet has given the opportunity to offer a bunch of information to anyone in spite of the borders: it is available to everybody even if the distance between the company and the person who reads it is really bid. ... The Commerzbank has understood the fact that there was a good opportunity for it to start investing in the e-market. ... The Commerzbank is now positioned as the major European financial group. This is due to different elements such as its German and International market strategy plus the way it uses internet and its web-site to attract, keep and inform its custom. ... HISTORY OF COMMERZBANK The Commerzbank has been founded in 1870 and is now based in Frankfurt am Main. ... In Germany the Commerzbank counts about 800 branches which build a nation-wide network. ... The Commerzbank is private-customer and corporate-customer oriented. Its organisation is divided in two main groups: “Retail banking and Asset Management” and “Corporate and Investment Banking”. As far as the “Retail Banking and Asset Management” is concerned, a variety of loan, savings and investment plans, including securities and fund management are offered to private customers. The Commerzbank Group manages assets for German and foreign customers of around 118 billion Euro. ... Since the Commerzbank has concentrated its forces on the development of the e-business, it has positioned itself as a major European player. ... Importance of Commerzbank in markets The first objective the Commerzbank has is to position itself as an internationally active, modern, and universal bank. The second one wants the Commerzbank to be an “European investment bank with global sales”. It means that the Commerzbank sells European products and does it world-wide. ... As we read through these five main objectives, we can already notice that the Commerzbank really wants to be present on international markets, and it is. ... The Commerzbank has brought its goal to reality. ... Thanks to that and to revenues totalling 25 billion US$, Commerzbank is a top 20 player in the international banking arena. ... 2 Profile of its customers As it was already said above, Commerzbank Group is one of Germany’s leading banks and operates worldwide. ... In addition, Commerzbank maintains relationships with more than 7. ... The customers of Commerzbank are particularly interested in such issues as private banking financial planning, individual portfolio management and particular forms of tax-structured investments. ... At Commerzbank, the customers seek a committed partner who cares about their individual financial situation and needs. ... They also want to take advantage of the global expertise and resources of a leading financial institution, like Commerzbank. ... The objective of the Commerzbank is to ensure success for its customers and to respond to its needs. ... Individual, extensive and market-oriented consultancy services are the most important product of the Commerzbank. Commerzbank offers a wide range of investments, it develops products that respond to economic changes and the personal interests of the customers. ... Commerzbank gives personal and individual advice to its private and corporate customers in all its branches in Germany but also on the international level. With its close relationship with investment banking, Commerzbank can offer its customers commercial banking facilities which combine the services of a regional financial service provider with the expertise of a large, international bank. This means that its customers can take advantage of the entire range of modern banking products. As a global player in the international marketplace, Commerzbank wants to be, for its clients, the ideal partner and adviser on financial questions. Wherever its customers are located in the world, Commerzbank advises them and they can then invest at any of the locations, each of which offers a wide range of international private banking services. At Commerzbank, international service includes advising you in German, English, Spanish, Portuguese, French or Italian. Based on the understanding of the customers personal needs and requirements, the local client manager of Commerzbank will develop a tailor-made investment strategy that helps the client to achieve its long-term financial goals.