During the process of Bank of America, that is trying, with everything they know how to get to be number one. Bank of America products that are offered is investments, banking, online banking, insurance, credit cards, and CD’s. In this paper, you will see some of the pricing strategies that Bank of America offers to individuals as well as investors. The process will show you the target market that bank is trying to receive, and with the promotions that Bank of America has to offer in the next month or two along with their future business. Then last, you will understand the business aspects of distribution of products that Bank of America has to offer to consumers and investors all over the world.
Bank of America
The type of business is Bank …show more content…
If they are wanting to come on board with Bank of America, some of the products that are offered is checking, consumers can have a choice between basic to premier checking accounts, credit cards, can offer consumers cash back rewards by using their cards to make purchases, health savings account (HSA) is offered at Bank of America, this is where employees or consumers can have the reassure of helping with their benefits in the health care industry, money market savings is another product that Bank of America offers, this helps the individuals that are or want to invest their money and to see their money grow with multiple tiers, and lastly the bank offers CD’s, which take the guesswork out of saving while enjoying assurance of your money is safe (www.merrillledge.com). Bank of America target market is not just in the United States it is everywhere, with different diversities. Some target markets that the bank does have is online banking, smartphones, home mortgage program, Hispanic market, using TV and radio ads (targetmarketing.com). Some pricing strategies for the bank is consumer facing banking service, focusing more on “relationship enhancement strategy” and “to bring more business to where pricing is upfront and transparent” (DMNews.com). As, of August of 2016, the bank started offering ebanking, as online banking and ATM’s with better pricing for consumers. By December the bank wants to offer new products in payments area that would meet the evolving needs of specific customers (DMNews.com). Making customers their number one reason in the banking industry is how Bank of America plans to distribute their products to make sure it meets the needs of the consumers. Bank of America promotions for how they advertise is by preferred rewards, which by offering rewards as a step in their relationships
Bank of America
The type of business is Bank …show more content…
If they are wanting to come on board with Bank of America, some of the products that are offered is checking, consumers can have a choice between basic to premier checking accounts, credit cards, can offer consumers cash back rewards by using their cards to make purchases, health savings account (HSA) is offered at Bank of America, this is where employees or consumers can have the reassure of helping with their benefits in the health care industry, money market savings is another product that Bank of America offers, this helps the individuals that are or want to invest their money and to see their money grow with multiple tiers, and lastly the bank offers CD’s, which take the guesswork out of saving while enjoying assurance of your money is safe (www.merrillledge.com). Bank of America target market is not just in the United States it is everywhere, with different diversities. Some target markets that the bank does have is online banking, smartphones, home mortgage program, Hispanic market, using TV and radio ads (targetmarketing.com). Some pricing strategies for the bank is consumer facing banking service, focusing more on “relationship enhancement strategy” and “to bring more business to where pricing is upfront and transparent” (DMNews.com). As, of August of 2016, the bank started offering ebanking, as online banking and ATM’s with better pricing for consumers. By December the bank wants to offer new products in payments area that would meet the evolving needs of specific customers (DMNews.com). Making customers their number one reason in the banking industry is how Bank of America plans to distribute their products to make sure it meets the needs of the consumers. Bank of America promotions for how they advertise is by preferred rewards, which by offering rewards as a step in their relationships