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Essay / Research Paper Abstract
This 8 page paper critically evaluates the extent to which Barclays Bank has differentiated itself from others in the marketing of financial services. The examination takes place in the context of an article by Birch and Young; "what does cyberspace mean for the financial services industry". The bibliography cites 9 sources.
Page Count:
8 pages (~225 words per page)
File: TS14_TEbarebank.rtf
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Unformatted sample text from the term paper:
information which has empowered the consumer more than at any time in the past. For organisations such as Barclays bank this has been a challenge with the need to differentiate
themselves from other financial institution. In 1997 it was estimated that in excess of 30 million households were using the internet and a PC and of these 20% would
use the computer in order to manage their financial affairs (Birch and Young, 1997). The development of the internet has opened up many
opportunities but has also created many threats. In the virtual world the there are no geographical barriers and the potential market of those using the internet is increasing. In
2000 there were 300 million people in the world accessing the internet and a total of 407.1 million that had access to it (Hobley, 2001). 41% of these were in
the North America area and 27.8% were in Europe (Hobley, 2001). The growth figure is very high when the access figures are compared to 1999, this was 201.5 million people
and as such this is a growth area (Hobley, 2001). 68% of European countries has a representative at board level responsible for e-commerce, this is as high as 91% in
the UK and 95% in the US (Hobley, 2001). This demonstrates a massive growth in the use of the medium. In terms of
trade undertaken on the internet this amounted to US$87.4 billion, with a global total at this time being US$657 billion in revenues (Hobley, 2001). By the year 2002 the consumer
sales were projected at US$152 billion, final figures are not yet available to confirm this, the student ,may wish to look into this further. By the year 2004 the total
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