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Unit 4 Bank Management
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When you think of marketing, you probably think of the advertisements
you see on television. Advertising involves calling attention to a product or
service, commonly through the use of paid announcements.
@cudqshrhmfhrnmkxnmdo‘qsnel‘qjdshmf-Marketing is the process
of introducing a product or service to the consumers who can purchase
it. Marketing includes creating a salable item, setting a price, selecting
a delivery method, and developing a strategy for promoting the item.
Figure 11-3 shows some of the many aspects of marketing.
Characteristics of Mortgage
Loan (Product)
Needs and Wants of First-Time
Home Buyers (Target Market)
Small down payment Small amount of money saved for
down payment
Competitive interest rate Low mortgage payments
Few closing fees Low closing costs
Roll closing costs into the
mortgage loan
Low closing costs
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No penalty for prepayment Increased income over time
Figure 11-2.
Matching Product Characteristics with Target Market Needs and Wants
CityMarket
Marketing
Advertising
Research
Pricing
Sales
Strategy
Customer
Support
Distribution
Media
Planning
Public
Relations
Figure 11-3.
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