bank presentation v2

bank presentation v2 - Applied research: aimed at solving a...

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Click to edit Master subtitle style 9/8/11 Young Consumers Searching for a Bank Emily Burkhardt Susan Kim Madeleine Schroeher
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9/8/11 Generation Y (18- Banking similar to parents 1 out of 3 use online banking Out of those that do not, 2 out of 5 say they do not trust transactions over the internet Financial service companies increase safety/security
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9/8/11 What about Credit Cards? 80-83% of those in Generation Y own debit cards 3 out of 5 of these consumers show interest in contactless credit cards Current negative
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9/8/11 Reliable SWOT Analysis using data Tailor new and existing banking products Create new marketing strategies How Can Banks Use This Information?
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9/8/11 Could this Research have been conducted over the Internet? 75% of Americans have access to the Internet Online vs. Offline results are identical Other Methods: Survey Observation Focus Groups
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9/8/11 Is this basic or applied Basic research: aimed at expanding the frontiers of knowledge rather than solving a specific pragmatic problem.
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Unformatted text preview: Applied research: aimed at solving a specific, pragmatic problem better understanding of the marketplace, determination of why a strategy or tactic failed, or reduction of uncertainty in management decision making. 9/8/11 This is applied research at its This information helps banks to understand why current strategies are or are not working. This information reflects current banking trends among 18 to 34 year olds. This information could help shape managements marketing decisions. 9/8/11 What other type of marketing research information might a bank need, to effectively market to young consumers? 9/8/11 Demographics, Psychographics, Motivations, Attitudes How do young consumers manage their money? How often do they visit a bank? What kind of services do they require? Do they make more large purchases or small purchases? What makes them uneasy about banking? 9/8/11 Questions?...
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This note was uploaded on 09/07/2011 for the course BMGT 452 taught by Professor Staff during the Spring '08 term at Maryland.

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bank presentation v2 - Applied research: aimed at solving a...

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