Bank U is a financial holding company. It operations are personal banking and lending, wealth management and business banking and lending. It has formulated a separate marketing mix to meet the needs of each target market customers. Bank U designed a strategy of human-digital to meet the targeted customer needs and preferences they realized that most of the customers are doing their banking operations without going to a bank. Later on, Bank U launched one application called Best Financial Friend through this any participate can text or video chat with the bank employee and completing all kinds of banking transactions except withdrawals. This application allows the bankers to access customer accounts and analyses, summarizes the previous interactions. This provides circumstances based banking which helps to know events that are connected to consumer’s life. The result of implementing of these strategy, Bank U restructuring its stores and to enable its employees to serve customers through application and in person. To discuss: Whether Person X agrees the decision of Bank U to use a market test before launching their application Best Financial Friend in the wider marketplace

Question

In your own. Describe below: 1.What is marketing? 2.How do consumers engage in relationship marketing? What strategies can be used to successfully improve relationship marketing? 3.As a customer, what are your value requirements for customer satisfaction? 4.What are some of the key differences between sales and market orientation? 5.Why is marketing important and how does it play an important role in your life?

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Chapter 6.2, Problem 3C

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Case summary:

Bank U is a financial holding company. It operations are personal banking and lending, wealth management and business banking and lending. It has formulated a separate marketing mix to meet the needs of each target market customers.

Bank U designed a strategy of human-digital to meet the targeted customer needs and preferences they realized that most of the customers are doing their banking operations without going to a bank.

Later on, Bank U launched one application called Best Financial Friend through this any participate can text or video chat with the bank employee and completing all kinds of banking transactions except withdrawals.

This application allows the bankers to access customer accounts and analyses, summarizes the previous interactions. This provides circumstances based banking which helps to know events that are connected to consumer’s life.

The result of implementing of these strategy, Bank U restructuring its stores and to enable its employees to serve customers through application and in person.

To discuss: Whether Person X agrees the decision of Bank U to use a market test before launching their application Best Financial Friend in the wider marketplace

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In your own. Describe below: 1.What is marketing? 2.How do consumers engage in relationship marketing? What strategies can be used to successfully improve relationship marketing? 3.As a customer, what are your value requirements for customer satisfaction? 4.What are some of the key differences between sales and market orientation? 5.Why is marketing important and how does it play an important role in your life?

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