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Chapter 11 Selling the Bank
Terms
public image
customer service
customer
rapport
word-of-mouth
advertising
Section 11.2
Building Relationships
Objectives
After completing this section, you will be able to:
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The Bank’s Image
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and opinions you have of it from your image of the business.
@atrhmdrrpublic image is made up of the ideas and opinions that
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different because they focus on a particular product or service that is not
offered by other banks. Small, local banks often emphasize their customer
service or community involvement. By examining a bank’s promotions
and, in particular, its advertisements, you can usually detect the public
image the bank wants and how it is trying to achieve that.
The economic strength of a community often depends on its ability to
get credit. Banks can contribute to the local economy by making loans to
individuals and businesses. These loans help create jobs and bring revenue
to its citizens. By working with the citizens, banks establish a positive public
image. Banks provide the credit that helps the community run and grow.
In addition to the credit they provide, banks engage with the
communities they serve in other ways. Banks often sponsor community
events, such as marathons. Increasingly, they provide ongoing financial
education to consumers. Bank executives often serve on civic boards
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communities is through the customer service they provide.
If the public image of the bank or the financial industry is damaged,
the bank may need to repair its reputation with customers. For
example, the financial crises of the early 21st century had a negative
impact on the banking industry. In hopes of repairing some of the
damage, many banks chose to replace managers, change how they
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These were important steps to reestablishing the positive image of
the banking business.
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