product concepts

J.P Morgan chase is a service company. many people believe that a produt is something tangible dut servise is also a product. In my point of view a produt is the ability ofcreating something that people wants and who does not whant a debit or credit card? well the only person that i know that does not like cards is my marketing profesor but thats one from 100. some of the not tangible produts that my company had made recently are immediate acces direct deposit :safe ,fast access to your money.

Free online banking and bill pay, this product is very combinient becouse it can be done anytime anywere uleand people with hard schedules find it wery atractive even i use it and find it magnific becouse i dont have to stand on line to meke an transaction.

Overdraft protection options, for these people that loves to buy with out control and stop they dont have to be scare about having an oerdraft.

Chase free movile to be inform of your acout even when you are on the train. With these facilities who does not what and chase account well only proffesor evans.

segmenting and targeting markets 2

The benefit of knowing what different type of people is looking for and put it all together is wery wise. chase satisfy most of the people needs of a bank . now they are targeting lating america and trying to espand in that land.

J.P. MORGAN EXPANDS LATIN AMERICAN PRESENCE OFFERING TREASURY MANAGEMENT SOLUTIONS IN BRAZIL (http://investor.shareholder.com/jpmorganchase/press/releasedetail.cfm?ReleaseID=417098)
Full Range of Treasury Services' Products Available, Including Online Portal Designed to Meet Brazilian Market Standards and Regulatory Requirements
NEW YORK- October 21, 2009 - J.P. Morgan's Treasury Services business, a full-service provider of cash management, trade finance and treasury solutions, today announced it has made its treasury management solutions available locally to clients in, or doing business in, the Brazilian marketplace. This expansion of services is evidence of J.P. Morgan's continuing commitment to the Latin-America region and its focused international expansion efforts aimed at increasing the bank's footprint globally. J.P. Morgan has plans to further expand its services across the Latin-America region.
J.P. Morgan's international development is driven by the bank's continuing dialogue with clients around the world who have expressed a desire for more global cash management capability. By listening to clients, J.P. Morgan is better able to address their specific business needs and support their growth in global markets.
"We are pleased to introduce our treasury management solutions locally to Brazil because it allows us to better support our clients in the rapidly growing Latin-America region," stated Mike McKenzie, managing director and Latin America regional executive, J.P. Morgan Treasury Services. "As a result of this expansion of service, J.P. Morgan will be able to meet the cash management needs of companies in Brazil, as well as multi-nationals wanting to do business in the region, by providing local capabilities and regional expertise."
"As the tenth largest economy in the world, Brazil offers an attractive financial market with tremendous growth potential, which is why J.P. Morgan has made such a significant commitment to this growing region," explained Leonardo Lima, managing director and Latin-America product executive, J.P. Morgan Treasury Services. "We have put together a dedicated team including local sales and customer service staff that fully understands the nuances of Brazil's unique cash management environment, allowing us to offer a best-in-class client experience."
Key to the treasury services expansion in Brazil, J.P. Morgan offers fully bilingual sales, implementation, product and customer service staffs. The bank has also introduced its Web-based cash management tool, J.P. Morgan Brasil Online. This online banking portal offers security, along with fast, reliable access to data and transaction information that can be integrated directly into clients' ERP systems. The portal is presented in Portuguese and is customized to provide payment initiation, authorization, reporting and file management that meets Brazilian market practices and regulatory requirements.

segmenting and targeting markets

Is the way that mmarket can conet the thing that relate with an spacifick group. My compamy has a very good segmentation becouse its taget to all groups. Chase bank try to get every body from 16 years and up it does not matter the age, race, belifes, culture. and we can note this in their advertisings yesterday i whent to chase bank to see how they try to atract customers and when i get in they were tree main posters designed to deferent aspects the first one was a new car that was taget for families that whants to go on bacation with their kids. the card has a diney land picture and it has the power to convice parents thats that was the best way to estar saving for their vacation and also that disney was the bet plais to go. the card is decined to earn points every time they use it.

bussines marketing

my company like any other comany is interested in making profit but chase also wants to create thing that benefits the public. One example is tha chase had help alot of families to make their dreams of having a house come true by their loans with low interest.

business marketing

In orther to make more profit businesses have to ivest and sometimes sacrifice their personal profits.

custumer decision making-

Competition for Banking Customers Intensifies Among Top U.S. Online Banks
Tight Economy and Banking Crisis Force Online Banking Industry to Seek More Creative and Cost Efficient Marketing Strategies

RESTON, VA, January 22, 2009 – comScore, Inc. (NASDAQ: SCOR), a leader in measuring the digital world, today released a study of the U.S. online banking industry, which found that the weak economy’s impact on consumer finances combined with the banking crisis have made it increasingly challenging for banks to attract new customers and cross-sell to existing clients. The study findings will be discussed in greater detail during a comScore webinar presentation on Tuesday, January 27 at 2:00 PM ET/11:00 AM PT (webinar details below).

“Increased joblessness, the credit crisis and the overall poor health of the U.S. economy have taken their toll on consumers and their bank accounts,” said Marc Trudeau, senior director, Financial Services, comScore, Inc. “Americans have less cash, are spending less and have experienced a significant decline in the value of their assets. As a result, we’re seeing shifts in the way consumers manage their finances online, such as less frequent and shorter visits to their banking Web site, which has significant implications for marketers trying to reach new and existing customers.”

In general, engagement at many of the top banking sites declined in Q3 2008 versus a year ago. Four out of the top 5 online banking sites experienced declines in the average number of minutes spent per visitor in the third quarter of 2008 versus year ago, with Wachovia down 12 percent and JP Morgan Chase down 8 percent.

Engagement Among Liquid Deposit Account (LDA)* Customers on Top 5 Online U.S. Banking Sites**
Q3 2008 vs. Q3 2007
Total U.S. – Home/Work/University Locations
Source: comScore Quarterly Bank Benchmarker
Banking Sites** Minutes Per Visitor
Q3 2007 Q3 2008 Percent Change
Bank of America 117.9 110.3 -6%
Wells Fargo 89.8 83.7 -7%
JPMorgan Chase 92.6 85.4 -8%
Wachovia 81.2 71.1 -12%
WaMu 73.5 74.9 2

* Liquid deposit account (LDA) customers are customers that accessed a checking, savings, or money market account at the financial institution during the time period.
**Top 5 online U.S. banking sites ranked by the number of LDA customers at the financial institution in Q3 2008; data reports entities independent of recent bank mergers.

For marketers in this industry who have relied on engaged visits from customers to build loyalty and to cross-sell additional products and services, this decrease in time spent per site visit creates a significant marketing challenge in attracting consumers’ time and attention. This is compounded by the ongoing banking crisis, which is causing a significant tightening in banks’ marketing budgets at a time when consumers’ confidence in their banks is being tested. While presenting a challenge for some, it is also an opportunity for competitors to target and acquire customers seeking a safe haven for their diminished assets.

Competition Intensifies as the Industry Consolidates

With many of the recent bank mergers – including big industry players like JP Morgan Chase and WaMu and Wells Fargo and Wachovia – the U.S. banking landscape is being altered dramatically. In the third quarter of 2007, the top three online banks accounted for nearly 60 percent of all of the customers of the top 10 online banks. After accounting for the impact of these bank mergers, however, the top three banks increased their share to 80 percent.

Share of Liquid Deposit Account (LDA)* Customers Among Top 10 Online** U.S. Banking Sites
Q3 2008 vs. Q3 2007
Total U.S. – Home/Work/University Locations
Source: comScore Quarterly Bank Benchmarker
Top Online Banks Q3 2007 Top Online Banks Q3 2008***
Bank of America 31.9% Bank of America 31.8%
Wells Fargo 17.4% Wells Fargo (includes Wachovia)* 27.7%
JP Morgan Chase 10.5% JP Morgan Chase (includes WaMu) 21.0%
All Others 40.2% All Others 19.5%
Total 100.0% Total 100%

* Liquid deposit account (LDA) customers are customers that accessed a checking, savings, or money market account at the financial institution during the time period.
**Top 10 online U.S. banking sites ranked by the number of LDA customers at the financial institution during the given time period.
***Data represents shifts that will occur as a result of the implementation of the merged firms, including the Wells Fargo and Wachovia merger, which occurred in October 2008; note: Q4 2008 data is not yet publically available.

This new competitive landscape, along with banks’ thirst for capital in today’s economic environment, has prompted many to adjust their marketing budgets and their strategies. Larger banks are launching aggressive customer-acquisition campaigns, offering significant monetary incentives, often in the amount of $75, $100 and even $200, to customers willing to open an account with the bank.

“In this time of uncertainty and change in the industry, many of these firms, regardless of their marketing strategies or business objectives, are turning to the Internet,” said Trudeau. “They realize this medium provides a more cost effective, efficient and flexible channel than the traditional bank branch, and represents a way in which they can more efficiently and effectively reach their target audience and communicate their distinct value proposition.”

http://www.comscore.com/index.php/layout/set/popup/Press_Events/Press_Releases/2009/1/Online_Banking_Competition