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Chapter 11 Selling the Bank
Marketing professionals develop a plan that will help the bank meet
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around the four P’s of marketing: product, place, price, and promotion.
Figure 11-4 illustrates these.
Product
What products or services meet
the needs of consumers in the
target segment?
Examples: certificate of deposit,
savings account, mortgage, or
mobile banking app.
How much will the product cost
the consumer?
Examples: fees and interest rates
are paid as well as charged.
Place
How will the product be available
to customers?
Examples: online, at a bank
branch, from an ATM or
smartphone; regionally,
nationally, or internationally.
Promotion
How will the product be
announced?
Examples: through television
advertisements, billboards, the
Internet, social media, or a
combination of these.
The Four P’s
Price
Source:
Shutterstock (bannosuke)
Source:
Shutterstock (Lisa S.)
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Shutterstock (June Marie Sobrito)
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Shutterstock (Jorge Salcedo)
Figure 11-4.
Four P’s of Marketing