Report on EGG PLC.: SWOT Analysis and Recommendations

Essay by 210jdaUniversity, Bachelor'sC+, August 2006

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Abstract

This is a report into the Egg plc - an online financial services company. It focuses on SWOT analysis and gives recommendations in term of financial services marketing in order to improve performance of its business.

Contents

I. Introduction

II. SWOT analysis of Egg plc

III. Conclusion

IV. Theories

V. Recommendations

VI. References

I Introduction

Egg plc is an e-commerce company created by Prudential (the UK-based financial services company) and is one of Europe's leading digital financial services providers, offering banking, insurance, investments, mortgages and a shopping portal through its Internet site and other distribution channels. Furthermore, the Company is committed to expanding into any area where it feels it can offer a great service and real value for customers.

Launched in 1998 and has been listed on the London Stock Exchange by June of 2000, Egg has already gained 3 million customers and has over 2000 employees working from offices its call centres in Derby and Dudley, and offices in London, Paris and Tours.

According to latest findings from Nielsen Net Ratings, the independent web audience monitoring company, Egg plc is the world's largest pure online bank, currently attracting more than 1 million unique visitors per month.

II SWOT analysis of Egg plc

Strengths

As the youngest of the Prudential brands and the pioneer of e-commerce in the UK financial services sector, Egg follows in the Prudential tradition of innovation in financial services. One of the company's greatest strengths is "branchless" banking services experience. Prudential Banking was set up in 1996 to provide retail banking services to customers via post and telephone. In 1998 Egg, a radical new direct banking service on the Internet was launched, as a response to rapid changes in technology. With the advantage of its "branchless" customers services over other high street retail banks...