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Essay / Research Paper Abstract
This 6 page paper provides an overview of the industry at the time and recommendations regarding what banks could have done to draw customer are made. The Four Ps are discussed. Bibliography lists 2 sources.
Page Count:
6 pages (~225 words per page)
File: RT13_SA315bnk.rtf
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Unformatted sample text from the term paper:
and also, there were changes due to technology that had been experienced all along. In fact, there were so many changes due to technology that banking has been altered a
great deal over the past decade. An example is that people no longer have to physically go to the bank to deposit checks. Banking can be done on line. Cash
can be accessed with the use of a debit card which serves as a mock credit card in some instances. Banking has been dramatically altered and marketing has changed as
well. Yet, if one were living in the mid-1990s, what proposals should be made if one were to create a proposal to compete with other banks? After all, with so
many transitions, and so much money at stake, competitive forces had rendered the industry subject to the whims and wants of the public. In deciphering a plan of action
for a bank that was around during the 1990s, it should include an analysis of the four Ps which are Product, Price, Place, and Promotion. First, in terms of product,
there have been new trends in the industry such as the banking card. New products also include the ease of linked accounts and along with them are different levels of
service. Much of the change that occurred, to make it all possible, really began during the 1970s. Citicorp was an industry leader during that time period, and pushed their
encoding system on an industry that had relied on magnetic strips (Kutlet, 1996). In those days, banks were in competition, and each wanted to outdo the other, even if it
meant stealing customers. In fact, while Citicorp tried to persuade other banks to join their new method of creating ATM cards, so that they could perhaps share the machinery, the
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