Market conditions and competitiveenvironment of your assigned company [60% weighting] Identifyyour assigned company’s main competitors; analyse the competitive marketenvironment in which it...

Strategic business management
Table of Contents
3Introduction
3Analysis of competitive marketing environment
5Analysing the internationalisation strategy and/or market strategy
5Ansoff Matrix
7Yip’s Model
7Push/Pull factors
8Identification and evaluation of market forces
9Conclusion
10References
Introduction
Lloyds Banking Group plc is one of the renowned and largest retail banks of the UK established with the acquisition of HBOS by Lloyds in the year 2009. The Lloyds Banking Group plc offers an array of financial products and services across the globe most prominently in Europe, Middle East, US, Asia, etc (Lloyds Banking Group plc. 2013). The underlying assignment aims at assessing market conditions and competitive environment of Lloyds Banking Group plc with the help of strategic tools like Porter five force model, Yip’s model, Ansoff matrix, etc to identify the market forces and variables affecting performance of the company. Analysis of competitive marketing environment
The competitive marketing environment of the Lloyds Banking Group plc has been analysed with the help of Porter Five Force model. Porter five force model fosters detailed discussion regarding conditions prevailing in the industry and external environment. It can be presented as below:
The discussion of individual element of Porter five force model is as follow:
Supplier power
This element of the model takes into account business entities and individuals providing raw materials to the business firm. The bargaining power of suppliers is considered high when they supply high value raw materials to the business firms and are low in numbers. The suppliers in contexts of Lloyds Banking Group plc refers to the other banks and financial authorities supplying money and other cash equivalents to the group. There are also other suppliers providing office supplies, stationary, food materials to the Lloyds Banking Group plc. All such suppliers do not pose high bargaining power as there are wide number of suppliers capable of supplying materials and fulfilling needs of Lloyds Banking Group plc (Analoui & Karami 2003).
Buyer power
The bargaining power of buyer is considered high when they purchase in quite large quantity and high valuable items. The buyers in case of Lloyds Banking Group plc holds low bargaining power as there are large numbers of buyers availing bank’s services and products. The concerned banking group is not dependent on any specific customer or group of customers for their growth and sustainability. It can be said that customers or buyers hold high bargaining power in case they hold high or significant proportion of shares in the Lloyds Banking Group plc. This is so because performance of Lloyds Banking Group plc is closely tied and dependent on such high valuable investors as they provide significant money for conducting and facilitating banking operations.
Competitive rivalry
As the name suggests, this element of the model takes into the account number of competitors prevailing in the industry. This threat is considerably high in case of Lloyds Banking Group plc as there are wide number of banks and financial institutions offering services to the customers. Some of such competitors are HSBC bank, Barclays Bank, Bank of America, Deutsche Bank and many more. Lloyds Banking...