HSBC is the world's second largest bank by assets and operates in over 70 countries. It has a global presence and markets itself as the "World's Local Bank" by targeting customers around the globe. HSBC uses market segmentation to identify and target niche markets. Some of its marketing strategies include print ads, establishing in new markets through campaigns, and identifying fast growing areas like pet insurance in Hong Kong. While this global positioning allows HSBC to access a huge potential customer base, it also presents management challenges to cater to different customer groups worldwide.