Marketing research

TB&T TeamGoldMarketing Research Presentation

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Texas Bank and Trust

Team Gold

April McCamey Lauren Llanes Jacob Clay

Josh Puryear Amaris Montes Cullen Griffin

Texas Bank and Trust

About TB&T

HistoryOriginally established as First State Bank of Longview in 1958. First State Bank of

Longview originally started with 2.6 million in assets. Just 4 years later it had its first official name change to Longview Bank and Trust.

Culture

The directors, officers and employees of Texas Bank and Trust are committed to providing exceptional service and quality products.

Texas Bank and Trust today stands as one of the state’s strongest independent financial institutions, offering a brand of banking that is as difficult to duplicate as it is easy to recognize.

Texas Bank and Trust

Proposal

Our proposal presents certain scenarios that will allow us to obtain data that will help Texas Bank and Trust accomplish their goal of

reaching Generation Y. Although Generation Y includes a very large age range, we will focus on traditional college students (Ages 17- 23) at LeTourneau, while also trying to reach as many others as possible

through social media (e.g. facebook, twitter).

ProblemStatements

The Texas Bank and Trust

The SymptomsPrimary consumer Generation Baby Boomer will soon transfer consumer rights to Generation Y

Traditional college students having lived in the region of Texas Bank and Trust are not using Texas bank and Trust for their banking needs.

Texas Bank and Trust is not retaining traditional college students customer.

The Texas Bank and Trust

Probable cause of SymptomsGeneration Y are the current college students and young entrepreneurs.

Texas Bank and Trust is not appealing to traditional college students.

Texas Bank and Trust are still working towards the variety of products and services desired by traditional college students.

Texas Bank and Trust is not effectively marketing to traditional college students.

Texas Bank and Trust

HypothesisOur hypotheses is that certain banking features are not as

important to college students as the older generations assume is true. During our meeting with Texas Bank and Trust executives we determined that they felt as thought things such as Peer-to-Peer transfer we going to be prevalent in the near future. Our hypothesis is that college students are not using ATM’s to get

cash, they are unaffected by the availability of a physical banking

locations, and they require both online and mobile banking.

Texas Bank and Trust

Objectives of Research

Current Banking HabitsCollect data from traditional students concerning their current banking habits.

Factors Affecting Banking

Determine factors affecting banking decisions for a traditional college student.

Banking NeedsDetermine the banking needs of traditional college students.

Level of ImportanceDetermine the importance of banking features to college students.

Based on the expressed needs of Texas Bank and Trust to reach both Generation X and Y, we have developed four research objectives that will attempt to bridge the information gap between the bank and the two expressed generations. Our goal is to be able to paint a clear picture for Texas Bank and Trust

Executives of college students banking needs, habits, and experiences.

Texas Bank and Trust

Research Questions• Do you use the same bank as

your parents?

• Do you have a checking and/or savings account?

• How do you deposit checks?

• How frequently do you use the ATM?

• How satisfied are you with

certain features at your current bank?

• What features are most important to you?

• What features do you desire in a mobile application?

• How do you obtain cash?

Texas Bank and Trust

Delimitation of the Study

What age bracket do you fall in?

What is your gender? Are you a U.S. Citizen?

Are you an international student?

Do you attend LeTourneau University?

What is your student classification?

Are you a missionary kid?

Hometown with 60 miles of LeTourneau

Texas Bank and Trust

MethodologyResearch Design

Population

Sampling

Sources of Data

Instrumentation

Validity and Reliability

Analysis Plan

Procedure and Time

Research Strategy

Texas Bank and Trust

Research Design

Thesis Statement Sample obtained

Traditional College Student Habits, Decisions, Needs

Texas Bank and Trust

PopulationGeneration Y

Traditional College Student

Individual seeking higher education

Not high school dual credit

Not career established

Defined by a period of time

Texas Bank and Trust

Sampling

Valid surveys: 157

Representation of the population

- LeTourneau University

• Traditional College Students

Texas Bank and Trust

Instrumentation

Focus Groups

Online Survey (Qualtrics)

Texas Bank and TrustValidity and Reliability of Instruments

STEP1 STEP2 STEP3Survey – Process

of EliminationFocus group-

Minimal ConcernAssumtions that

LETU is similar to other colleges

Benefit: Higher average of out-of-state traditional college students

Texas Bank and Trust

Analysis PlanMale and Female

Hometown

Parent Relationship

Psychological

Features

With 60 miles of LeTourneau

With 60 miles of Outside of 60 mile radius of LeTourneau

Texas Bank and TrustProcedure and Time

FrameFocus Groups and Distributing Survey

Qualtrics and Excel

3 Months

Texas Bank and Trust

Strategy to Conduct Research• Assess the needs of TB&T

• Discover the questions that need answers

• Create and Modify Proposal

• Obtain Feedback

• Focus Groups

• Create survey

• Distribute, analyze and Interpret survey.

• Present Information and provide recommendation

Texas Bank and Trust

2008 2009 2010 20110

25

50

75

100

Analysis and Interpretation

Texas Bank and Trust

SubgroupsGroup 1

Gender, LETU student, and if their hometown is outside of a 60 mile radius from LETU campus Client

Group 2Gender, and LETU studentGroup 3

Gender, and Enrolled in College

Males

12. How satisfied are you with your bank? 

Males

16. How often do you use an ATM per month

Males

17. How often do you use online banking?

Males

18. How frequently do you visit your bank branch per month?

56% 34% 10%

Males

19. According to you, rank how satisfied you are with these features

Males

20. According to you, rank the importance of these banking features. 1 least important, and

5 most important. 

Males

21.What features do you desire in a mobile application? (Check all that

apply)

Males

12. How often do you use an ATM per month

Males

22. What banking features do you use? (Check all that apply) 

Females

12. Is this the same bank your parents use.

Females

13. How Satisfied are you with your bank.

Females

How do you obtain cash?

Females

How often do you go to the ATM?

Females

What do you desire in a mobile application?

Findings!

Conclusion!

Recommendations!

Goodluck!