MNCs and Joint Ventures, Target Market Study; ANZ Grindlays Bank Plc.

Abstract

The second phase of the summer project which is primarily a* Target Market Study’ for ANZ Grindlays Bank in the city of Bangalore involved targeting MNCs (Multi National Corporations) and Joint Ventures in the city. Though the aim was to target only MNCs initially, the scope of the project was increased to include joint venture companies into the fold. This was done keeping in mind a few points, namely 1) most of the MNCs had already been contacted by the marketing staff/bank managers at the bank, and 2) even joint ventures with less than 51% foreign stake represented a prospective high-growth company and there was always a possibility of the foreign stake in such companies being increased in the near future. The project was also indirectly meant to obtain information bases which would keep the bank's marketing division informed about new MNCs and JVs coming to town, on a current basis. Such information bases were sought and a few have been identified as potential sources of valuable information of the required nature. About 35 companies or so which the bank had not contacted were identified for the study. Each of these companies were visited or at least contacted. Information regarding the company's background, management, financial information, and their banking arrangements were obtained to whatever extent was possible in each case. The company was also asked to outline any banking needs of their's, if any which could be fulfilled by ANZ Grindlays Bank. The next step was to identify any such prospective clients who firstly had any intention to do any business with ANZ and then did satisfy the bank's target market criteria. Such companies names and the information obtained were passed on to the bank manager so that he may follow-up on these companies as soon as possible. 7-8 companies which fit into the above pattern have been identified for immediate follow-up.