Introduction to "The Trust Bank" in Sri Lanka

1.     INTRODUCTION TO THE TRUST BANK

The Trust Bank was established in July 1989, and then it acquired the Colombo branch of trust banking limited. The over subscription of the initial public offering was a significant highlight of our market entry. Since then, The The Trust Bank has gone from strength to strength, rapidly expanding its client base with the following strategic acquisition its portfolio.

• Acquisition of Waldawock Makezoo Ltd.
• Acquisition of the Kandy branch of Standard Bank.
• Acquisition of the personal portfolio of the Deutsche bank.
• Acquisition of the foreign exchange business of Kingdom Express bank of Colombo
• Merge with mercantile leasing company.

The promoters of The Trust Bank are John Keels Group and Central Finance Group. In corporate in January 1999, initial public offering of 14-999-993 shares done in March 1999. Listed in Colombo Stock Exchange on 1999 and also received their banking license in May 1999. Took over the business of Colombo branch of Overseas Trust bank in June 1999 marking the entry of the bank in to active banking business.

1.1 Vision of the The Trust Bank

Making life simple by being the bench mark of convenience.

1.2 Mission of the The Trust Bank

Be innovative in continuously developing customer centric solutions. Unleash the talent of our team to be the best industry. Consistently grow market share and be the most profitable and respected Sri Lankan bank by 2015.

1.3 Values of The Trust Bank

• Inspirational leadership
• Integrity in all our dealing
• Open communication
• Learning focus
• Meritocracy
• Prudent risk management
• Respect for all
• Innovation and continuous improvement
• Nature of relationship
• Social and environmental response

1.4 Profile of The Trust Bank

We are one of the fastest growing banks in Sri Lanka today. Our portfolio of financial product and services cater to varying requirements of individuals, corporate and institutional clients.

Our banks reach has expanded to 56 branched, 67 ATMs, 7 personal banking centers, 28 leasing centers as well as internet banking. Consider being one of the most customers – centric financial solutions today, we provide tailored services for contemporary life style.

We pronounce break trough flexibility to our clients with extended banking hours and 365 day banking services which sets us apart among most commercial banks in the country which still keep to traditional banking hours.

The Trust bank offers a wider range of great value financial products ranging from tailor made treasury products, personal banking, corporate banking, SME banking remittance and innovative retail banking facility with leasing and insurance services. We are also the exclusive issuer of Kingdom Express Cards in Sri Lanka, which further strengthens our commitment to out customers all around the world. It also has a fully owned subsidiary, Waldockland Mcanzy Ltd, which is an investment bank that is a leading facilitator in the equity market. These diverse product and service offerings have ensured the rapid growth of the bank while sustaining market stability.

1.5 Products and Services

1.5.1 Personal Banking

We offer truly personalized financial packages to suit your diverse banking needs.

• Private banking – This is where bank has identified exclusive customer needs and global customer requirements to satisfy high ended customer groups.
• Inner Circuit Accounts – This is the account giving lot of solutions to the business crowed.
• Nation empower – This is where the customers can plan their salary smart way to manage their personal banking needs whilst enjoying a host of benefits and privileges.
• Nation Auto-Sweep account – This account surplus funds in to current account are transferred automatically to your saving account so that you earn interest continuously.
• Loans – The Trust Bank offers you simple and convenient solutions to fulfill your desires be it a dream home, a new car, or a fairy tale wedding. (home loan, personal loan, housing loan)

 1.5.2 Banking services to boost your business

•  We take care of your banking so that you just concentrate on making your organization thrive.
• Wholesale, institutional and corporate banking – when you need a suit of financial solutions that best fits your business requirements, The Trust bank will deliver them.
• Treasury and Investment Banking – Nations Treasury is driven by a skilled and experienced team and provides a wide range on individually – design products to a sophisticated clients.

1.5.3 Providing support for your business at every stage.

The Trust bank believes that small medium enterprises play a crucial part in the growth and development in the country. We understood the requirements of growing business and our flexible range of products can help you.

• Leasing – whether you are starting a business or running already, we provide right financial services to your company.
• Factoring – factoring is used when a sale is conducted on credit terms between a vendor and buyer and financed by a third party.
• Business banking
• Remittance – Money Gram, UAE Exchange, Express Money, Coinstar money transfer, remittance to home, Colombo money transfer services.

1.5.4 Kingdom Express Credit Cards

With hundreds of thousands of card members and the largest network of affiliated merchants in the country, Kingdom Express represent a substantial share of the credit card market in Sri Lanka, provides its customers with a wide selection and advantages.

• Personal credit cards – Sri Lankan Airline Platinum Kingdom Express Card, Kingdom Express Gold, Green and Blue cards.
• Corporate credit cards – Kingdom Express Gold and Green corporate cards.

SPECIAL NOTE - THIS ARTICLE IS FOR ACADEMIC PURPOSES ONLY. IT DOES NOT REPRESENT A REAL ORGANIZATION OR REAL SITUATIONS.

CONCLUSIONS

Star Coffee shop has been able to remain one of US leading coffee brewing companies for more than 70 years. Now primarily because of the execution of the company’s branding and positioning strategies to perfection. At to the mix the company’s dedication to high quality of service and the formula for success is at hand. Moreover, the utilization of the appropriate knowledge management tools is necessary for their products to reach out to people even in different cultures. However, certain points have to be taken in to consideration by Star Coffee shop regarding knowledge management tools. Since their income is relatively higher than most coffee brewing companies, time for implementation of their chosen knowledge.

Management tools would take longer than usual, aside from being expensive. But since the goal of Star Coffee Shop is towards a long term dominance and stability in the Sri Lankan market, recommendation of this marketing plan will be beneficial for the company in the long run. Star Coffee Shop has appealed to such a exclusive target market, it seems every product introduced will be selective and exclusive. With the high reputation of MGS Group and Star Coffee Shop as the most innovative company in the branded coffee industry, it is no surprise that with the new technology, sales will be rapidly grow and eventually able to capture a substantial market share in coming years of booming economy in Sri Lanka.

EVALUATION OF PERFORMANCE APPRAISAL SYSTEM AT THE TRUST BANK

1.      Introduction

1.1.   Vision of TTB

1.2.   Mission of TTB

1.3.   Values of TTB

1.4.   Company Profile

1.5.   Products and Services

1.5.1.      Personal Banking

1.5.2.      Banking Services to Boost Your Business

1.5.3.      Providing Support for Your Business

1.5.4.      Credit Cards

2.      Organization Structure

3.      Performance Appraisal System at TTB

4.      Current Performance Appraisal System in TTB

4.1.   Types of Performance Appraisal System

4.2.   A Guide to Performance Appraisal System

4.3.   Aims of Performance Appraisal System  

4.4.   Appraisal Process of TTB

4.4.1.      Roles       

4.5.   Performance Appraisal System of Staff Grades 

4.5.1.      Performance against Objectives

4.5.2.      Performance against Competence    

4.5.3.      Overall Performance Rating                                                    

4.5.4.      Development Review                                                                        

4.5.5.      Appraisal Interview                                                                     

4.6.   Performance Appraisal System of Assistant Managers                            

4.6.1.      Performance against Objectives                                                      

4.6.2.      Performance against Competence                                            

4.6.3.      Overall Performance Rating                                                          

4.6.4.      Development Review                                                                   

4.6.5.      Appraisal Interview                                                                     

4.7.   Performance Appraisal System of Managers and Above                            

4.7.1.      Customer                                                                                       

ADVERTISING AND PROMOTIONAL BUDGET FORCAST FOR THE FIRST YEAR

#	Description	Value Rs (Millions)
1	TV Advertising	2
2	Radio Advertising	1.2
3	Magazine and newspaper advertising	1
4	E-Flyers	0.05
5	Product launch	3
6	Website development	0.2
7	Printing uniforms, mugs, plates, tissues, etc.	1.4
	Total	8.85

MARKETING MIX DECISIONS

Product

Star Coffee Shop consists of two parts: goods and services. Goods include mugs, espresso, coffees, teas, milk shakes, fruit juices and other specialty drinks. Customers will be able to select from pastries, light fair and the limited menu from Sri Lankan catering establishment during their stay. Star Coffee Shop will provide services for group meetings, technical support for apple systems and customers having difficulties of configuring their laptops and hand held devices for internet access using our free wi-fi service.

Star Coffee Shop specialty store; as such, its customers should display less price sensitivity than the customers from similar coffee shops who do not position themselves in this way.

• Brand name - luxury, excellence and perfection all over the world
• The image of luxury
• The theme from the brand logo, the color scheme of the premises, to the entire feel is warm tones and relaxing colors.
• Service - reputation for excellence all over the world applies not only for the exceptional coffee but also but insistence on perfect service.
• Enlarge product line:
• Coffee (Cappuccino, Mocha, Late, Black Coffee)
• Hot Chocolate
• Healthy organic sandwiches, Salads, Cakes, Cookies and Pastry
• Higher product variety and quality

Product Life Cycle (PLC)

Coffee shops in Sri Lanka are still very much in the growth stage of the product life cycle and Star Coffee Shop may restart the product life cycle. The challenge facing Star Coffee Shop is to convince regular customers of similar retail stores that there is a reason to switch brands. The product must recognized its place in the battle of the brands and emphasize brand familiarity.

We are in the introduction stage of the product life cycle.


Branding

Branding plays a critical role with in the Star Coffee Shop marketing strategy. Because a good brand and trade mark reduces the marketers selling time and effort. Since Star Coffee Shop is a internationally known brand, branding in the local market will not be a difficult task.

Packaging the product for the customer sends the message and its link to promotion and branding must be reinforced. Packaging must first and foremost must meet or surpass the customer needs and expectations in a way that is perceived by to be superior when compared to competing products. Because the Star Coffee Shop target market is upper and upper-middle class, it is important to understand what they want out of our packaging. The package must serve the important functions of reducing the likely hood of skills around delegate electronic equipments. The branding should be included on the mug to reinforce the brands familiarity and superiority.

• Attributes - Color (Premium color according to the product line), Aroma, Temperature
• Benefits - Prestige, relaxation, social class, refreshment, atmosphere, social networking
• Value - Unique taste
• Culture - Global culture, Social networking
• Personality - Prestige and global character.
• User - Busy lifestyle, socialize character

Product Levels

• Core benefits - refreshment and leisure
• Basic product- Coffee varieties, friendly and polite staff, comfortable seating and table setting
• Expected product - car parking, A/C, Wi-Fi, Pipe music, smoking area
• Augmented products - ATM, Cable TV channels, Web Kiosk, Kids corner, Foreign currency exchange index
• Potential product - Online reservation, gift voucher

Price

The prices of all the products are comparatively high because our target market is upper and middle-upper classes and foreigners.

Pricing strategy (market skimming) - Prestige product for higher price.

• Pricing factors
• International brand and brand loyalty
• High quality of products and services
• Atmosphere
• Convenience
• Efficient
• Technology and customer care.

Place

Location: Basically prime locations in Colombo and suburbs for an example Bambalapitiya, Kolpetty, Colombo national museum with the purpose of attracting foreigners, World Trade Center, Katunayake and Hambanthota Air Port, Green Path, Kandy City Center, K-Zone, Crescat, Southern Express Highway (Canowin) and Galle Fort shopping complex. Apart from outlets in all the hotels in MGS Group, we are planning to open fifteen outlets at initial stage.

The retail services of Star Coffee Shop must be available over the web, a feature highly sought by the target market. Online orders can be taken for foods, drinks especially targeting foreigners residing in Sri Lanka.

Promotion

Nevertheless, because at the time Star Coffee Shop open it will largely unknown to its prospective customer base. It will be important to use promotional tactics that will gain attention in the market place and persuade consumers either to switch to Star Coffee Shop or otherwise give the shot a try.


Managing promotional mix

Above the line (ATL) advertising

• V and Radio channels: English (ART TV, ETV, MTV, CSN, YES FM, SLBC English, Gold FM, TNL Radio, Sun FM)
• Time: TV Channels - 8.30pm to 10.30pm advertising while telecasting news, business and sport programs , Radio - 6.30am to 8.30am and 5.30pm to 7.30pm while driving to office in the morning and returning to home in the evening.

Below the line (BTL) advertising

• Cinema - English movies in Liberty, Savoy and Majestic cinemas.
• Brochure with credit card statements - Printed advertisement (special discount offers linked with HSBC and AMEX banks for gold and platinum card holders.
• Magazines: Business Today, LMD, The Living, Explore Sri Lanka

Through the line (TTL) advertising

• Professionally designed website is a must for serving our products and services to the target market. The web order system can also be used to re-order or implement advanced ordering further degree the wait time and to allow the sales people to properly priorities their service responsibilities. The product assortment and online ordering system must be able to scale rapidly for the franchise operations. It is important to recognize the economic needs of consumers fulfilled by Star Coffee Shop retail offering such as convenience, product selection, special services, and fairness in dealing, helpful information, prices and social image.
• Sending email fliers for targeted profiles, Linked-In Advertising and word of mouth
• Daily Mirror online edition (dailymirror.lk)
• Linkedin.com

Sales Promotion

• Discounted price for HSBC and AMEX gold and platinum card holders.
• Offering special discounts of 20%  for bills exceeding Rs.1000
• Lovers Promo - (Every Wednesday) One to one free for couples and partners will be offered with a cup of coffee.

Public Relations

Product launch with press conference at the MGS hotel in Colombo inviting head of  ICC (International Cricket Council) match referee panel Mr. Ranjan Madugalle as brand ambassador.


Event & Experience

• Organize “Star Coffee Cup” golf tournament collaboration with Royal Colombo Golf Club, Victoria Golf Club and Nuwara Eliya Golf Club.

People

Stewards and staff must understand its role to serve customers with more effective, efficient, polite and kindly manner. They should be well trained by foreign trainers representing Star Coffee (USA). We train our staff to serve our customers with international standards with the touch of Sri Lankan traditional hospitality. Select the best service employee of the month and reward him to continue the work and motivate others as an internal marketing strategy.

Staff must be extremely knowledgeable and able to offer high quality service and use the consultative selling approach when necessary.


Process

We will introduce hi-tech coffee machines to provide a prompt service to our customers. This will help to serve our customers within 3 minutes. A proper software system to support point of sales (POS), customer relationship management (CRM), inventory and stock management and finance management will be implemented together with touch terminals.


Physical Evidence

Interior designing, building structure, uniforms, and other physical equipments according to the SCS corporate standards. This will help to our customers to feel a reflection of global experience. Logo (greenish brown & green colors), hording, banners, name tags, cups, spoons, tissues, toothpicks holders, table mats, menu folders, carpets, parking area and other accessories according to colors, designs and quality recommended by SCS principles in USA.

RATIONAL OF MARKET SEGMENTATION, TARGETING AND POSITIONING

Market Segmentation

    2.1.2 Geographic

    Basically prime locations in Colombo and suburbs and selected outstation cities.

    2.1.3 Demographic

§  Age: 18 and above

§  Gender: Both males and females

§  Income: over 60,000+ per month

§  Education: Professional education, Master level

§  Family life cycle: Covers entire family life cycle except solitary surviors

§  Social class: upper and upper-middle

§  Nationality: both locals and foreigners

§  Occupation: professionals, business executives, senior and middle level managers

    2.1.4 Behavioral

§  Occasions - business meetings, educational matters to discuss by MBA and professional exam students, to spend time by young couples and friends.

§  Benefits - atmosphere, comfortable seating, decent environment, Wi-Fi, screen TV with international channels, warm welcome, international magazines, superb customer care, table setup (meeting type), Internet access point with web-kiosk, parking facilities.

§  Usage rate - morning and evening high usage rate, when conducting business meetings in coffee shops by top business executives their usage rate us high whilst students usage rate in their educational discussions is low.

§  Loyalty status: Since a SCS world wide recognized high end brand we expect start coffee lovers to visit our shop.

    2.1.5 Psychological

    People who looks for prestige, willing to be a part of a international brand as core value, mental relaxation.

2.2 Targeting

    Adults aged 25-40 accounting high income business people and professionals. The second target market is young adults aged 18-24. SCS position itself as a college students can hang on, write term papers and meet people. Kids and teens are also target audience for product such as whip creamed top coffee contained more sugar and color. Also other complimentary products such as cakes and cookies are available.

2.3 Positioning

§  World class brand.

§  Super luxurious couches and interiors.

§  Wi-Fi facilities.

§  Environment friendly.

§  To get experience of global culture.

§  Locations in high traffic and high visibility areas (Ex: Airport, Luxury shopping complexes).