Intended Message (Encoding)

Business communication is the mechanism of which information flow confined to legal lines within the market environment Communication between companies is not a new phenomenon (Comor, 2006 ). In DBS bank, the mechanism, forms, methods, and techniques are the same as the general communication mechanism. The main distinction DBS bank in Singapore communication process is how the organization and individual needs and expectations are implemented. The communication process and marketing strategy are in accordance with Marcom planning strategy. According to (Comor, 2006 ) pp. 83 communication process in DBS bank is to two-way process which involves the sender who encodes the message either verbal or non-verbal way and transmits it through a channel or medium like a memo, telephone. The message reaches the intended person of the receiver. The person may be an employee or customer. The company gives and receives feedback which the company has specialized at giving the best response and services.

There are three main communication types in DBS bank, namely internal-operational, external- operational, and personal communication. Internal operational communication is one of the essential communications in DBS bank. Orders and directions by the supervisors to subordinates, face-to-face among workers on account opening, collection of deposits, savings, collection and payment of bills, cash receipt payment, maintenance, locker facilities (Patsiotis, 2012 ) pp. 22.

Creative Appeals

Promotional appeals are persuasive stimuli that induce a person to purchase a product or service, by addressing the needs, preferences, or expectations of an individual. The purpose of an advertisement is to reassure consumers, and advertising appeals offer the best way to persuade. The DBS bank promotional ads are created to give people using these services or products a positive picture and mental feel (Richardson, 2006) pp.39. DBS Bank has placed a lot of work into its innovative advertising strategy to influence purchasing behavior using different forms of appeals.

Rational Appeal-Opening accounts for free through mobile phone, also free ATM card. They give details, facts, and product benefits. Emotional Appeal- Their advertising phrase ‘Live more…less.’ and use of white bunnies is the emotional ad. Humor Appeal- Humor provides relief on a mundane and planned ad. The right humor will draw the audience’s attention to organic interaction. Example in DBS Bank; Grownup inside toy cars. Fear Appeal- Ads that draw on latent fears through powerful visuals. Some commercials are built on personal fears, others on a sensation of loss. The DBS bank giant bunny graphic advertising will persuade people to save more. Bunnies are mostly used. Sex Appeal- Sex sells one of the best-known attention appeals. DBS Bank makes the audience excited by beautiful models and’ Sexy ‘ product images (Shapiro, 2013) pp. 122

New Promotional Tools

Marketing Communications Plans, also known as the Marcom plan, is a method to educate the target consumers of your service or product. It’s an important aspect of the integrated marketing strategy. Marcom plans have the emphasis that lets you know where somebody is heading with your approach, what you have to communicate or do to market your brand, and ways you will get the item from the manufacturer to the customer (Whayman, 2018) pp.437 This is called a marketing channel. The strategy ought to be concrete, outstanding, and transparent, ensuring it must address all primary channels of communication. The rest of this lesson gives examples of various Marcom plans which capture each of these characteristics.

Marketing communication strategic plan for DBS bank involves communication mix to reach for all its target clients. This method involves advertising, sales promotion, public relations, personal selling, direct mail, and internet marketing. As per (Deeter-Schmelz, 2014) pp. 320, the latest campaign confirms its dedication to India and highlights the Singaporean roots of the company. In India, DBS Bank India has launched an ambitious 360-degree initiative to emphasize its Singaporean legacy and dedication to India. Cross-platforms, including TV, out of home, social media, and digital, are embraced to support this initiative. The integrated campaign that was designed by Leo Burnett began with the TVC with brand ambassador Sachin Tendulkar.

Sale promotion is the mechanism by which a prospective buyer is convinced to purchase the product. Sales promotion is intended to represent a short term sales boost–seldom a way to create long-term loyalty to consumers. All sales promotions of DBS banks are meant to increase the customer base. Ideas for sales promotion can originate from anywhere. The general marketing plan involved a range of DBS Bank activities (Karsten, 2019) pp. 437. It covers products such as a trade show, product ads, contests, discounts, appreciation programs, point-of-sale, and free samples.

Public relations: The Public relations position was observed to stimulate demand and the value of consumers in the promotion of goods and services (Whayman, 2018) pp. 437. The study found that PR is effective and essential for sensitizing DBS banks to goods and services. The analysis suggested that DBS banks make substantial investments in public relations and employ it to raise awareness about their goods and services. The report also proposed that banks use PR to stimulate market demand. The results of this study would enable DBS Bank to increase its customer base and market share.

Personal selling: Personal sales approaches of DBS Bank are extracted from the marketing plan and are consistent with other marketing mix elements. When DBS bank is formulating a selling plan, consider some factors. Salespersons who engage in personal sales most frequently call their customers.  The degree of technological advancements in the sector is high, and DBS Bank customers often change devices. The sales team’s resources are required to determine choices more frequently. Salespersons always call on their customers more frequently as they expand their premises or are building a new company.

The DBS Bank’s direct marketing initiative uses various means of communication, including e-mail, telephone, and face to face conversation (Karsten, 2019 ) pp. 473. The focus audience chooses various platforms. For instance, the distribution of leaflets or flyers door to door, which saves money on mailing costs, focuses on their immediate neighbor companies, and provides incentives for individual interaction. Also, telemarketing and short message services are used by the marketing department. Internet marketing or online marketing is a mechanism to promote by use of instruments to attract traffic, sales, and lead for a company or brand and their goods and services over the internet. Internet marketing used by DBS Bank includes a wide variety of marketing techniques and methods–including video, email, search, online media such as blogging and YouTube (Whayman, 2018) pp. 437.

Bibliography

Comor, E. A., 2006 . Communication Technology and International Capitalism: The Case of DBS and US Foreign Policy. The Global Political Economy of Communication, pp. 83-102.

Deeter-Schmelz, D. R., 2014. Personal Selling and Sales Management Abstracts. Journal of Personal Selling & Sales Management, 34(4), pp. 318-330.

Karsten, J. &. P. S., 2019 . Strategi Media Relations Praxis dalam Membangun Corporate Image Bank DBS Indonesia. Prologia, 3(2), p. 473.

Patsiotis, A. G. H. T. &. W. D. J., 2012 . Adopters and non‐adopters of internet banking: a segmentation study. International Journal of Bank Marketing, 30(1), pp. 20-42.

Richardson, P. S., 2006. The Impact of Direct Appeals on Clickstream and Response at Promotional Websites. Journal of Website Promotion, 2(1-2), pp. 37-51.

Shapiro, A., 2013. Tell the World about Your Charms: The Promotional Appea. The Lure of the North Woods, pp. 121-130.

Whayman, D., 2018. Bank of Credit and Commerce International (Overseas) Ltd v Akindele. Court of Appeal. Law Trove, p. 437.