Media Comparison by Dhanasekhar_Damodara

VIEWS: 18 PAGES: 6

									                 Media Comparison Paper

                 Dhanasekhar Damodaram

Course: COMM/470 – Communicating in Virtual Workplace -UOP

                 Instructor: Jesse Covner

                      26 May, 2003
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                                 Introduction

      The evolution of internet has made it possible for the businesses to

transform themselves into e-business and reach a wide range of audience.

This technology evolution has taken the marketing and sales to be hosted

online. Today, every business wants a presence on the World Wide Web. It

has become a common trend for companies to market their products and

services through internet. While this media is considered popular and

cheaper for marketing, it has not affected the popularity of other Medias

like News Paper, Radio and Television.


      It was largely predicted that there would be considerable decrease in

print volumes as advertising and other print-centric budgets were purported

to pour onto online rather than offline media. However, we could see even

ISPs and Web Hosting service providers are using Print Medias like News

Paper, newsletters largely to reach their customers. This trend reveals that

these Medias address different audiences or their different needs. This

paper compares and contrasts how Honk Kong and Shanghai Banking

Corporation Limited (HSBC) is using both these Medias to its fullest potential

to reach their targeted audience.


      HSBC is one of the largest international banking and financial

institution Headquartered in London. HSBC’s international network comprises

over 9,500 offices in 80 countries and territories in Europe, the Asia-Pacific
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region, the Americas, the Middle East and Africa. Through an international

network linked by advanced technology, including a rapidly growing e-

commerce capability, HSBC provides a comprehensive range of financial

services: personal financial services; commercial banking; corporate,

investment banking and markets; private banking; and other activities.


                    HSBC’s Print Media based Marketing

      For a global company like HSBC there are only few ways to reach the

global audience. Of them, Print media is one of the familiar and famous one.

Print advertising in general has some advantages. Print copies stays around

more than a few seconds allowing the gathering of information at a leisurely

pace when and wherever it's convenient for the customer. It's a more sensual

method; you can savor the product and flip the pages. Print advertising is

particularly suited to complicated merchandise requiring study to make

informed decisions. It is also most suitable for products that are fairly

stable in configuration and price.

      As HSBC’s products are more stable in configuration and price, print

media is more suited to address its needs. Its advertisements in various type

of print media shares its strong global presence and its understanding of

local markets. The advertisement is published in print medias like News

Paper, Weekly Magazine, and Printed Handouts etc. Its printed messages are

eye-catching. It uses the same message in all its media coverage which is
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composed with a pictorial view of what ‘one particular word or event’ means in

different cultures and with simple text that explains its global expertise and

local experience. This advertisement clearly states HSBC’s business initiative

to expand globally and attract customers who has such similar needs. Their

targeted audiences are business people who have global presence or planning

to establish global presence. In order to reach its targeted audience, they

advertise in local and international newspapers and in business magazines.

      However, the print media has some negative qualities as well. Firstly, it

takes longer to deliver and it goes stale quickly. Print as a medium does not

provide any opportunity for interaction or feedback. Surprisingly, HSBC’s

print media advertisement doesn’t carry any information or pointers to its

online URLs.

                          HSBC’s Online Marketing


      The Internet is a faster and more economical medium to share

information, and therefore, much of the information that used to be shared

on paper, is expected to be shared from online. To make online marketing a

big success, it is advisable to use all the proven direct response marketing

techniques to help to win the business. The Internet provides one of the most

powerful methods to date of 'one-to-one' communications. When people

respond through online, the business has a unique opportunity to establish a

personal relationship with a potential customer. Realizing these benefits,
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HSBC has launched all of its products ranging from retail banking, investment

banking, loans, finance, insurance, and international banking in its internet

page. It has also designed a corporate homepage that carries a message

similar to that of the print media message about its global presence and local

expertise. The corporate web page provides link to HSBC’s various country

specific services websites. It also carries information about HSBC, its share

prices, information on AGM, latest news etc.


      Online media is very powerful a tool for all type of businesses, With

the right approach to the right target markets. HSBC has used its web

presence to its full advantage by providing its customer with various financial

tools like Refinancing calculator, Free Property Valuation, Mortgage

Simulator, Education Loan, Personal Loan and Renovation Loan calculator. Only

in online medium, it is be possible to offer such personalized services to

customer and looking at the country specific HSBC website, one can say that

is has capitalized on all the capabilities of online medium.


                                   Conclusion

      In conclusion, printing is largely a conveyor of information as compared

to the possibility of interactions in online medium. Apart from the vast

technical feasibilities, it is also true that some of the things that is being

done in print media can be done at a fraction of cost in online medium. If that

is the case, it suggests that the information able to move from offline media
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to online media will do so to take advantage of the benefits provided by online

medium.


                                     Reference


HSBC Advertisement (2003, June). Reader’s Digest, 81(483), 80-81.


Turbin, Efraim, Lee, Jae, King, David, Chung, H. Michael (2001).

      Communicating in the Virtual Workplace. Boston: Pearson Custom

      Publishing.


HSBC – The world’s local bank. Retrieved May 27, 2003 from the World Wide

      Web: http://www.hsbc.com


Welcome to HSBC – HSBC Singapore. Retrieved May 27, 2003 from the

      World Wide Web: http://www.hsbc.com.sg/sg

								
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