Ally Bank : Marketing And Advertising

1197 Words5 Pages
Ally Bank has become more of a well-known name over the last few years. Being the “product” of a bailout hasn’t been easy for them, but they are finding unique ways to brand themselves. Ally Bank should use marketing and advertising to continue to promote their brand name and what they stand for, along with education about the bailout. Ally will continue to grow their market over the years if they remain innovative. Ally Bank faces some tough competition but has been able to out-do them with their fantastic offerings. Situational Analysis Ally Bank may sound like a new name, however its parent company Ally Financial Incorporated is not. In 1919 General Motor Acceptance Corporation (GMAC) was formed, in which Ally Financial and Ally Bank have stemmed from (Hitt 2015). General Motors primarily used GMAC for their automotive financing. As the demand for automotive grew, this led to the growth of GMAC. With the excess capital GMAC decided to expand and eventually in 2008 during the financial meltdown he creation of Ally Bank started to take place. On December 29th, 2008 the US Treasury invested 5 billion dollars in GMAC and in May of 2009 GMAC had officially become Ally Bank (Hitt 2015). Ally Bank is focused on doing things differently; the ways in which they do this are discussed next. Ally Bank is classified as a direct bank. A direct bank does not have any branch locations. All banking is done through means of online banking, banking through the mail, or banking over
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