Transcript
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Presented By:Team D
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Since 1850…
“For customers who want guaranteed personal, protected, service offerings such as online banking, Country Bank are the best at building supportive financial relationships.”
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Generation Y
Primary Age: 9-21
Secondary Age: 22-29
o Independent Learners, Eager for Educationo Want to absorb information on their own
termso Technology Savvy
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Competition
Pricing Currently pricing slightly lower than competitors Need to implement a benchmark pricing strategy against
competitors (Short Term) to breakeven Raise prices in the long term to portray high value, with
high price Sales Promotion will have short term costs, but will
strengthen long term customer relationships
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“OUR HOME IS YOUR HOME”
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What do we communicate with Generation Y?
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What is Generation Y’s attitude towards banking?
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What are the future benefits of Country Bank to Generation Y?
Easy, low cost, convenient local banking Low fees 3 free ATM transactions per month Easy online banking Point Reward System
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Where will distribution take place?
Charlton, Ludlow, and Paxton
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Message Delivery
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How will sales promotions work?
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Message Strategy:
At Play At Work At Home
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Radio
Primary Advertisement
Primary and Secondary Advertisement
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Internet
15Internet
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Direct Marketing
[DATE]Welcome to the Neighborhood!
We at Country Bank would like to welcome you to the area! As you know, living in [WESTERN/SOUTHERN] Massachusetts allows you to have access to many local attractions, shopping areas, and popular vacation spots. Yet at home, you will feel like an integral part of your local community. One of Country Bank’s most important business philosophies is to be actively involved with our neighbors and local communities. Without you, there would be no us. Country Bank for Savings is an independent, full-service, community-oriented bank that has been servicing the community since 1850. We have fourteen branches located throughout Hampden, Hampshire, and Worcester Counties. We pride ourselves on both excellent services and personal customer service. Country Bank is known as a little big bank because of our size compared to competitors and the other community banks in the area. We are larger than most of our competitors but are smaller than regional banks in the area, allowing us to offer the resources necessary to offer you the latest products in banking needs, technology, and service.I would like to outline why Country Bank’s services are both customized to your needs and are convenient. We offer saving and checking accounts, personal, business, and online banking, personal loans, direct deposits, and multiple ATM locations. Our staff will work with you to provide the services that best fit your personal and financial needs. Our small size allows us to know you by name and care about your individual needs. This is an aspect that has kept our customers loyal for so many years.I would welcome the opportunity to speak with you about your financial needs at this time and offer ways that we can help you. You may reach me at [NUMBER] or visit your nearest location at [LOCATION ADDRESS].I look forward to speaking with you soon about how Country Bank can serve you best!
Sincerely, [BANK MANAGER]
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Print Advertisements
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Introducing the Country Bank Point Reward System. For every transaction you make with your Country Bank debit card, you earn points towards rewards of your choice. Talk to a representative or visit Country Bank online at www.countrybank.com or www.mycb.com.
Swipe. Earn. Enjoy.
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Introducing the Country Bank Point Reward System. For every transaction you make with your Country Bank debit card, you earn points towards rewards of your choice. Talk to a representative or visit Country Bank online at www.countrybank.com or www.mycb.com.
Spending just became the new earning
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Country Bank has your back. Talk to a representative or visit Country Bank online at www.countrybank.com or www.mycb.com.
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Introducing the Country Bank Point Reward System. For every transaction you make with your Country Bank debit card, you earn points towards rewards of your choice. Talk to a representative or visit Country Bank online at www.countrybank.com or www.mycb.com.
Our home is your home
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Television
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Total Costs
Community Events $100,000
Sales promotion $100,000
Student Educational Programs
$10,000
Spot Television, Radio and direct mail
$146,000
Newspaper $33,662.40
Total promotional budget $389,662.40
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Pricing Strategy
Country Bank has found that its fees are considered free or extremely reasonable compared to competitors.
Strategy of low pricing with high value
Country Bank will need to increase fees.
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