Marketing Value Added Products

REWARDS CHECKING1 Rewards Checking UMUC MBA Fundamentals Section 9048 Dr. Mona Engvig February 21, 2010 REWARDS CHECKING2 Introduction To a bank, the checking scotch represents the primary financial inception with its guest. Checking accounts runway to the regular interaction of the bank with its clients. It is a nettle to additional descents like loans, require deposit, certificates of deposits, IRAs, mortgages, cite cards and investments. With a product that carries such grandness to the client family race it is irresponsible that a financial establishment add innovative and large-hearted features to attract new business. As recently as 1994, everywhere 70% of Americans used a checking account with their local intricacy bank or credit union, with only 30% victimization a large discipline bank. By 2009 these numbers had commute with 70% now use the large national banks (Morrison, 2009). This has crest community banks and credit unions to formula for innovative and unique ways to pock themselves from their competitors. One of these differentiating products is Rewards Checking. J. D.

motive and Associates 2009 Retail Banking Satisfaction speculate found that 67% of Americans be dissatisfied with their current checking relationship and would not hesitate to hurl banks (Morrison, 2009). This presents a valuable risk of exposure for banks to introduce a product like Rewards Checking. This product puts the guest in control of the banking relationship by rewarding them with a high return and the assuage operate they desire, for monthly activities they already perform. This product has the chance to create the concept of checking and enhance the inhale of the banking consumer. Rewards Checking Description Rewards Checking allows a bank to differentiate itself from others in the market. This is an opportunity for the world(a) exoteric to be offered the high interestingness and free services that are...If you postulate to get a extensive essay, order it on our website: Ordercustompaper.com

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