Marketing Essay Example | Topics and Well Written Essays - 1000 words - 4

Marketing - Essay ExampleThis eventually resulted to creating a need for a good financial market for banking and finance in which the bottom variant would be to stimulate needs for certain product or service offerings. This area has become so combative in which the resulting activity leads to the creation of competitive rivalry. In short, it is important to consider that the presence of young market entrants, power of supplier and buyer and advancement in technology has significantly created an essential line leading to competitive rivalry (Ireland et al., 2007 Hitt et al., 2009). Porter in that locationfore is right on specifying some factors that may fundamentally lead to the creation of competitive rivalry. Thus, he emphasised that there is a need to go for competitive strategies. This is what the financial market has essentially applied to the extent that there is a point to include economical policy measures just to minimise the presence of competition in the market (Lin dbeck, 1973 Lancaster and Reynolds, 2005). The building societies and banks The Building Societies companionship (2011) presents some major(ip) differences between building societies and banks which include building societies as mutual institutions, are not companies run by their shareholders, and the issue on the limit of proportion of funds. These differences bring forward to some major prefers and even shown in some studies revealing that building societies have outperformed banks implying that mutual organisations may outweigh those subscriber line organisations (Valnek, 1999). There are underlying reasons for this and one of the most significant is the inclusion of rights and privileges for members to receive the right schooling they deserve to have. The next most important thing about building societies is that they are not considered companies which are highly controlled by shareholders who are influential to maximise profits for increase amount of dividends. The point of this is that there will be low operating cost and other significant privileges that will ensure advantage on opportunity cost. In fact, it was found that building societies remain to have constant rates in deposit and mortgage (Heffeman, 2005). This emphasises that building societies are indeed not under pressure of its stakeholders which blind drunks further that the needs of consumers are greatly catered to the fullest. The limit of proportion of funds on the other hand would mean further that compared to banks, building societies are highly secured for investment and this is an opportunity for consumers or investors to go. Harpenden Building Society Harpendens company website revealed some of important information about its operation which leads to having a better view at its current trends in the market (Harpenden Building Society, 2010). Harpenden is known for its place in the UK building societies. It significantly belongs to the club of 52 renowned UK building societies b ecause of its 20,000 members having more than 25,000 accounts. Aside from this, Harpenden has no debt because it eliminates its chance for borrowings on the money market. another(prenominal) good thing about the financial performance of Harpenden is the upward spiralling growth of its deposits and mortgages. Harpenden is also recognised by