This 7 page paper is the beginning of a marketing plan. The paper looks at the banking industry in the US, starting with a brief SWOT analysis, the paper considers the industry and analyses a competitor in that industry before suggesting a target market and way to differentiate. The bibliography cites 10 sources.
Name of Research Paper File: TS14_TEbankmk.rtf
Unformatted Sample Text from the Research Paper:
service is in a competive mature market, with many companies seeking to gain an advantage and hoping to develop a differentiation product in a market whether there is a perception
of generic products. The banking industry is one of these industries. By looking at the industry both the way in which the product can be developed to gain maximum return
on the target market as well as the way that the message can be communicated can be understood. Therefore, any marketing plan needs to begin with a market analysis.
2. Market Analysis. The banking industry is very large, it is also an industry that has the benefit of being a requirement of todays lifestyles but one that
has been marred with bad publicity and negative attitudes. To consider the industry as a whole a SWOT analysis may be undertaken. A SWOT analysis looks at the strengths weaknesses.
Banking is a necessary service for the ability to undertake any financial transaction. Banking is traditionally seen as the process of writing out and cashing cheques, deposits and clearing. However,
Banks fulfil a wider range of roles than simply this, with their role and actions depending on they type of bank that is being considered. Furthermore, many of the functions
traditionally associated with banks may be fulfilled by other finical institutions, for example current accounts, where there is the writing and cashing of cheques, as well as the taking in
of deposits maybe conducted by building societies. This means that they are required this is a strength as the model them becomes one, for banking services, not of whether the
service is used, but that of which competitor to use to access those services. The use of technology may also be seen as a strength. This is an industry