Wells Fargo Group
Marketing 304
Professor Kiesler
2:00 P.M. – 3:15 P.M. T/Th
9 May 2007
Wells Fargo:
Marketing Plan
Kevin De Place
Bill Ho
Ryan Neal
Diana Suranyi
Kevin Yetter
Executive Summary
Our team constructed a marketing plan of the company Wells Fargo. The first half of the report covers the company background by finding information about it, its competition, and the environment to see how the company stands. The second half of the report deals with a new product, tax preparation, and how it will be implemented into Wells Fargo.
When analyzing the company, we found that it is viewed as the largest bank in the United States by physical size. The
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alysis ……………………………………………………………………18 Industry Level ……………………………………………………18
Relevant Variables ……………………………………………………19
Young Adults …………………………………………………....20 New Families …………………………………………………....20 Low Income Families …………………………………………………....20 Middle Income Families …………………………………………………....21 Wealthy Families …………………………………………………....21 Foreign Families …………………………………………………....21 Seniors …………………………………………………....21 Farmers …………………………………………………....22 Small Businesses …………………………………………………....22 Middle Businesses …………………………………………………....22 Big Business / Corporations …………………………………………………....22 Needs and Wants ……………………………………………………23 High or Low Involvement ……………………………………………………24 Decision Process ……………………………………………………24 Roles Consumers Play ……………………………………………………24 Demand Forecast ……………………………………………………24
SWOT analysis ……………………………………………………………………25
Marketing Plan
General Marketing Strategy……………………………………………………………...27 Marketing Objectives …………..………………………………………..27 Campaign Strategy ……………………………………………………27 Performance Measurement ……………………………………………………28 Segmentation Analysis ……………………………………………………28 Target Market ……………………………………………………29 Positioning Statement ……………………………………………………29
Marketing Mix ……………………………………………………………………30 Product ……………………………………………………30 Description ……………………………………………30 Benefits to Consumers ……………………………………………31 Branding Issues ……………………………………………33 Potential Impact to Wells Fargo
Knowledge is considered as one of the most important and competitive resource for sustenance of the organisation (Zack, 1999). It can be compared to the strategic resource that can be used and applied in various frames of the organisation. Experienced managers in the organisations believe that company can receive strategic advantage through knowledge and not the strategies or actions implemented by competitors. Knowledge can be regarded as a strong approach that opens numerous ways of success. It is that weapon that help organisation to evaluate solutions in financial and other professional difficulties.
Lower inflation makes the market more stable, enabling JPMorgan Chase customers to get credit at a lower interest rate. “Government green drive also opens an opportunity for procurement of J.P. Morgan Chase products by the state as well as federal government contractors.”, which means new tax policies may have a significant impact on the way they operate and provide new opportunities for more profitable capabilities for existing participants such as JPMorgan Chase. The new technology provides opportunities for JPMorgan Chase to implement a differentiated pricing strategy in new markets. This will enable the company to maintain its loyal customers with good service and attract new customers
In Iowa, the State Wrestling Tournament rules over all other state tournaments averaging about 16,000 spectators during the first place matches. But, it’s not the fans that make this tournament special. It’s the boys from all over our state who dream of one day being able to wrestle in Wells Fargo Arena while those 16,000 fans cheer their name.
In the year eighteen fifty-two, two men by the names of Henry Wells and William Fargo chose to establish a monetary administrations organization that we particularly know today to be Wells Fargo (Wells Fargo, 2017), which actually is quite significant. Before establishing the organization, Mr. Wells and Mr. Fargo chose to ground their organization in five standards which generally turned into their five very essential esteems. Their first standard being "individuals as an aggressive esteem" which implies an association with a colleague will literally prompt a definitely superior association with the clients, or so they particularly thought. Second "morals" Wells Fargo prides its self on being a straightforward organization and
I've had the misfortune of primarily banking with Wells Fargo since 2007; I wonder why they even bother printing the year you became a customer on the cards, seeing as the amount of years you spend with them means nothing. A couple weeks ago, I walked in their branch on Sunset to pick up a cashiers check for rent; since I never received the checks I've ordered a month and a half prior.
Wells Fargo just gave little entrepreneurs about I billion motivations to grin. The San Francisco-based bank as of late settled an across the nation $1 billion advance program particularly focusing on African American entrepreneurs.
Strong intro: Advocate is addressing necessary points during into- appreciation, disclosure, intro, name, concern. (adjusting tone appropriately)
Ever since the Consumer Financial Protection agency was born under Dodd-Frank , Senator Elizabeth Warren has been a advocate for Financial reform. Warren has advocated breaking up larger banks, so American does not fall into the "to big to fail" trap again. America should not be in a position, that citizens have to bail them out of a finantual disaster that they created. Warren wants jail time for presidents and managers that abuse the system. No more slap on the wrist for these white collor crimes, is Warren's motto.
At Wells Fargo, to serve our consumers in a timely manner is and will always be a top
Wells Fargo is a public trading company that was formed in the year 1852 by Henry Wells and William Fargo. The company transcended from a service that transported from a fright from the East Coast to mining camps throughout California during the California Gold Rush old rush in the 1800s (APA, Wells Fargo). At Wells Fargo’s inception it focused on offering banking solutions to the people of California with an established mission and principles that has enshrined in its culture and values that are geared towards the company vision that states “we want to satisfy our customers financial needs and help them succeed financially.” (APA – Wells Fargo VV)
Our paper today will be on Wells Fargo. Wells Fargo is an American bank that was created in 1852 by Henry Wells and James Fargo. It is the second largest bank in the USA in terms of market cap, operates in over 42 countries around the world, and has over 260,000 employees.
Wells Fargo was established in 1852 by Henry Wells and Williams Fargo who joined a group of other investors to form a transportation and banking company. In 1849, gold was discovered in California, which encouraged a huge demand for its cross country shipping and by 1852 Wells Fargo shipped its first consignment of gold. Wells Fargo also established merger deals with Pony expresses which made them one of the pioneers of pony transportation. This company later expanded to a company that offered not just pony and gold transportation services, but also offered banking services by purchasing gold and selling paper bank drafts as good as gold. In 1905, the banking branch of the company merged with the Nevada National Bank and established its new headquarters in San Francisco. ("Wells and Fargo start shipping and banking company", 2016).
Wells Fargo founded in 1852 is known for being a financial services company. Wells Fargo provides banking, insurance, investment, mortgage, and consumer and commercial financial services through more than 8,600 locations, 13,000 ATM’s, online, and mobile devices. Wells Fargo is headquartered in San Francisco, California but has a vision of being decentralized from that location. Being decentralized allows each location to act as a headquarters to provide their customers with specific financial services. Wells Fargo employs approximately 268,000 employees to serve 70 million customers.
Hiding or divulging information: Goldman bet against their clients several times. They knew material information on certain investment; however, they never communicated that to their clients because they were making money off them.
Right now I will be talking about their internal strengths and weaknesses. One of the companies main strengths is how Bank of America is the leading market in the United States. This company has always set the standards for other businesses. Bank of America is also an extremely well planned and thought out product and service innovation corporation. But, Bank of America also has its weaknesses such as deteriorating asset quality, declining net interest margins and weak wholesale banking operations. Every business is going to suffer from some weaknesses because no one is perfect nor going to be