A comparative study between theory & practices: role of Windmill Advertising Ltd. on holistic approach for market penetration of mobile financial services of Mercantile Bank Ltd.

Abstract

Mobile Financial Services in Bangladesh is still at the beginning phase. So, it offers ample opportunity for the businesses to take the advantage of untapped market and huge potential to drive growth. Already most of the reputed banks have started their m-Commerce wing and working on that. Mercantile Bank is planning to launch their MFS business as soon as possible and appointed Windmill Advertising Ltd for a comprehensive plan on the service itself, launching and communication plan. Primarily, Mercantile Bank ‘My Cash’ is being proposed as brand name. After survey, target group has been identified and accordingly communication plan has been developed. A detail and comprehensive plan is being submitted to the authority. For this, current market and players have been analyzed carefully. This is considered during value proposition development and brand positioning. My Cash brand positioning looks like “Mobile-e, Shohoje, Nirapode”. 360o coverage plan and communication strategy are the key of overall success. During launch, all touch points and strategic locations will be covered with ATL communication. Current players in the market is focusing on convenience and ease for cash transfer. So, communication strategy has been developed carefully to keep the momentum and sustainable brand equity. Focus has been given to the agents who are actually front face of the service. Nation-wide agent recruitment and keeping them aligned with brand positioning is crucial. Nurturing agents and agent points will impact overall growth and success of the brand itself.