Preview

bank of america marketing plan

Satisfactory Essays
Open Document
Open Document
648 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
bank of america marketing plan
Bank of America Marketing Plan
Mirona Hussein
Lynn University

Abstract
Bank of America is a financial institution, serving individual consumers, small and middle market businesses, corporations and Governments with a range of banking, investing, asset management and other financial and risk management products and services. I choose Bank of America for many reasons: it is brand name and good financial position largest bank in the America market and stable and growing sector in US. Through its banking and various nonbanking subsidiaries throughout the United States and in international markets, the Company provides a range of banking and nonbanking financial services and products through five business segments: Consumer & Business Banking, Consumer Real Estate Services, Global Banking, Global Markets and Global Wealth & Investment Management.

Bank Of America Marketing Plan

Current Situation

Bank of America is a financial institution, serving individual consumers, small and middle market businesses, corporations and Governments with a range of banking, investing, asset management and other financial and risk management products and services. Through its banking and various nonbanking subsidiaries throughout the United States and in international markets, the Company provides a range of banking and nonbanking financial services and products through five business segments: Consumer & Business Banking, Consumer Real Estate Services, Global Banking, Global Markets and Global Wealth & Investment Management. In October 2013, Bank of America Corporation announced the completion of the merger of its Merrill Lynch & Co., Inc. subsidiary into Bank of America Corporation.

Competitors Some of Bank of America competitors are Wells Fargo, HSBC, JPMorgan, and Citigroup.
Market Objectives Meredith Verdone, is Bank of America's head of brand marketing. In an interview she said that the bank is trying to have more “humility” approach for a

You May Also Find These Documents Helpful

  • Good Essays

    McBride Financial Services is a start-up regional mortgage lender headquartered in Boise, Idaho (Apollo Group, Inc., 2004). McBride Financial Services will be the preeminent provider of low cost mortgage services using state -of- the- art technology in the five state areas of Idaho, Montana, Wyoming, North Dakota, and South Dakota (Apollo Group, Inc., 2004). However, to be successful McBride will have to come up with an adequate marketing plan. The company has goals that they plan to…

    • 773 Words
    • 4 Pages
    Good Essays
  • Good Essays

    MHA 626

    • 1012 Words
    • 5 Pages

    Bank of America: We have narrowed our focus to concentrate on the businesses and services that matter most to our customers and clients. We divested more than $60 billion of assets in noncore activities with no meaningful impact to core earnings and large improvements to capital ratios and liquidity. We continue to reduce risk throughout the company while maintaining a strong…

    • 1012 Words
    • 5 Pages
    Good Essays
  • Better Essays

    “McBride Financial Services is a start-up regional mortgage lender headquartered in Boise, Idaho. The firm will specialize in conventional, FHA, and VA loans for home purchasing and refinancing. The company intends to expand its operations into Wyoming, Montana, North Dakota and South Dakota.” (McBride Financial Services website, 2003)…

    • 665 Words
    • 3 Pages
    Better Essays
  • Best Essays

    With over 57 million consumer and small business customers served in 40 different countries, it is clear to see what a global company Bank of America has become. While challenges still exist today, the company has made tremendous strides to streamline its operating structure. By investing in human capital and aligning employee goals and objectives to the company’s strategy, Bank of America has truly been able to satisfy shareholders, improve employee satisfaction and deliver on its promise of improving the financial lives of its customers.…

    • 3364 Words
    • 14 Pages
    Best Essays
  • Good Essays

    Capital One Case

    • 553 Words
    • 2 Pages

    The Company operates in Credit Card, Commercial Banking and Consumer Banking segments. It issues credit cards, loans, banking and savings products, while determining rates to charge, and which customers are risky.…

    • 553 Words
    • 2 Pages
    Good Essays
  • Good Essays

    Bank of America Corporation provides a range of financial services including investment banking, corporate banking, asset management, retail banking, and credit card services. Its mission is to offer lending and investing products that serve low- and moderate-income individuals and families, improve underserved low- and moderate-income communities, and create sustainable practices for the long haul (Bank of America Mission Statement, 2014).…

    • 511 Words
    • 3 Pages
    Good Essays
  • Good Essays

    Bank of America Corp. ultimately desires to be the best bank services and provide more benefits than any other financial organization in the world. BofA wants their goal to be straightforward and to have a strategized plan to meet this achievement. The financial institution has a customer demographic made up of the following three entities: people, businesses of all capacities, and institutional investors.…

    • 909 Words
    • 4 Pages
    Good Essays
  • Satisfactory Essays

    Bank of America Paper

    • 168 Words
    • 1 Page

    Bank of America is one of the biosphere's major monetary establishments, attending single customers, minor businesses, middle-market businesses and enormous businesses with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 49 million consumer and small business relationships with approximately 5,000 retail banking offices and approximately 16,000 ATMs and award-winning online banking with 30 million active users and more than 15 million mobile users. Bank of America is among the world's leading wealth management companies and is a global leader in corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 3 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients through operations in more than 40 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.…

    • 168 Words
    • 1 Page
    Satisfactory Essays
  • Satisfactory Essays

    Bank of America is one of the world's largest financial institutions, serving individual consumers, small and middle market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk-management products and services. The company provides unmatched convenience in the United States, serving more than 59 million consumer and small business relationships with more than 6,100 retail banking offices, more than 18,000 ATMs and an online banking with more than 25 million active users. Bank of America offers services to more than 4 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients in more than 150 countries and has relationships with 99 percent of the U.S. Fortune 500 companies and 83 percent of the Fortune Global 500. Bank of America Corporation stock (NYSE: BAC) is a component of the Dow Jones Industrial Average and is listed on the New York Stock Exchange. In late-2008, Bank of America acquired Merrill Lynch, a long-standing, global investments and financial services firm.…

    • 657 Words
    • 3 Pages
    Satisfactory Essays
  • Better Essays

    Umpqua Bank

    • 1131 Words
    • 5 Pages

    A bank is like a small community where different cultures, subcultures, and every segment of social class people visit. The customer is made to feel comfortable spending time at the bank which also gives more opportunities to Umpqua bank to interact with its potential customers and the ability to meet their financial needs. As Umpqua states, “It’s understanding our customer’s financial needs and at the same time realizing there’s more to life than money” (Umpqua Bank, 2011). So whether a consumer walks into the bank wanting information on a basic account or has thousands of dollars to invest, they can be assured that their need will be met with the greatest attention and respect.…

    • 1131 Words
    • 5 Pages
    Better Essays
  • Better Essays

    Over the last several years, the banking industry has become highly regulated. In order for the doors to remain open, allowing the bank to continue serving its purpose of providing money services to the public, both through lending and through money management, banks find themselves competing for deposits. Not only do Americans lack trust in banks, but they know they have many choices in who they bank with. Most consumers have their assets split amongst several institutions so the challenge for any bank is satisfying the customer and ensuring that the customer keeps their share of their wallet at that institution.…

    • 1838 Words
    • 8 Pages
    Better Essays
  • Good Essays

    Swot BOA

    • 536 Words
    • 3 Pages

    Bank of America was founded in 1874 in North Carolina. They of all of the basic and standard services of any bank. Bank of America is a very powerful Bank. In fact bank of America is one of the four big banks of the United States which account for 39 % of customer deposit. They own the largest retail deposit market share in the U.S. They also own 5,328 Banking Centers and 16,354 ATM machine. They are number 3 in distributing Credit Cards and number 1 in Online Banking capabilities.…

    • 536 Words
    • 3 Pages
    Good Essays
  • Best Essays

    The opening of Citibank Express Service in the departure side of the airports will provide great convenience for Citibank customers (especially business customers and holiday makers). Citibank Express Service which features new product promotions and an online banking facility will offer high accessibility and convenience to Citibank customers when they are at the airports waiting to board their flights. Citibank Express Service will serve better existing customers, attract new ones, and maintain leadership in the affluent segment.…

    • 1784 Words
    • 8 Pages
    Best Essays
  • Good Essays

    Sources: Deborah Orr, "New Ledger," Forbes, March 1, 2004, pp. 72-73); "HSBC's Global Marketing Head Explains Review Decision," Adweek, January 19, 2004; "Now Your Customers Can Afford to Take Fido to the Vet," Bank Marketing (December 2003): 47; Kenneth Hein, "HSBC Bank Rides the Coattails of Chatty Cabbies," Brandweek, December 1, 2003, p. 30; Sir John Bond and Stephen Green, "HSBC Strategic Overview," presentation to investors, November 27, 2003; "Lafferty Retail Banking Awards 2003," Retail Banker International, November 27, 2003 pp. 4-5; "Ideas that Work," Bank Marketing (November 2003): p. 10; "HSBC Enters the Global Branding Big League," Bank Marketing International (August 2003): pp. 1-2; Normandy Madden, "HSBC Rolls out Post-SARS Effort," Advertising Age, June 16, 2003, p. 12; www.hsbc.com.…

    • 668 Words
    • 3 Pages
    Good Essays
  • Good Essays

    Bibliography: Ackerman, J. (2008, January 24). The Banking Industry Problems and Competition. Retrieved February 5, 2012, from Wryte Stuff: http://jules.wrytestuff.com/swa292998.htm Bernet, & Partner. (2008, April 9). Wealth Managers Can Turn Threats Into Opportunities. Retrieved February 5, 2012, from Private Banking Innovation: http://www.privatebankinginnovation.com/en/archives/2008/04/09/wealth-managerscan-turn-threats-into-opportunities/ Citibank. Citi-advertising. (n.d.). www.citigroup.com/citi/press/advertising.htm Retrieved from…

    • 8573 Words
    • 35 Pages
    Good Essays