Question
Jade Bank Limited (JBL) plans to open its second overseas branch in Hong Kong due to the countrys recent interest in Islamic Finance, active financial
Jade Bank Limited (JBL) plans to open its second overseas branch in Hong Kong due to the countrys recent interest in Islamic Finance, active financial market and supportive legislations. JBL has obtained indicative approval from the relevant authority, subjected to the fulfilment of some licensing requirements. a) It is crucial for JBL to understand the environment where it is going to operate in, which is known as environmental scanning. Assuming that you are the CEO of JBL, what areas should you examine in designing the Banks marketing strategy for Hong Kong market? You may apply any of the situational analysis approach. (10 marks) b) Suggest THREE (3) key strategies that should be adopted by JDL in penetrating Hong Kong market by giving appropriate examples. (9 marks) c) The consumer behavior in Hong Kong might be unique and different from other countries. Culture is one of the external characteristics that is crucial for JBL to study. Discuss how this characteristic influences the targeted markets decision in purchasing financial products. (6 marks)
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