Competitive Situation Analysis of Premier Bank Limited

Abstract

Competitive analysis is performed to better understand your company's position in the market. Intelligence gathering and tactical application go hand in hand, and this technique does both well. Including a competitive analysis in your company plan can help you outperform your rivals and retain customers. Asset purchase is made simpler, new client acquisition strategy is better understood, and investment financing is more readily available. Additionally, it may have a favorable effect on the company's performance and profitability. The study's goal is to figure out what elements impact Premier Bank Limited's growth in the competitive market edge in the bank industry of Bangladesh. With the use of a SWOT analysis and Porter's five force model, Premier Bank Limited is able to understand what influences the market in the banking service sector, as well as what influences the business of Premier Bank Limited itself. Premier Bank Limited may benefit from using Porter's Five Forces to better understand the forces at play in the market and make strategic modifications based on those findings. Using a SWOT analysis, it is possible to identify the most essential aspects that may help organizations identify risks and opportunities in a competitive marketplace. Studies show that certain financial institutions in Bangladesh rivals are leading the pack. Furthermore, Premier Bank Limited must take on additional marketing challenges to dominate the industry as well as develop the company. Lack of fulfilling customers’ services according to their demand and digital bank services from other competitors are the main factors for the growth of Premier Bank Limited that have been discussed in this report. However, towards the conclusion of the repot, some recommendations were made in order to enhance the growth of Premier Bank Limited in the banking industry of Bangladesh.