developing and managing products

chase bank is aware of the importance of innovation and is always coming out with something new thats why is consider one of the top banks of america. chase bank gives much more than a acount, it has a big bariety of cervices that makes people stay with them. chase has more than 200 years of history and some of the new cervices that they provide are bonus points of interest back on credit cards, cash back on mortgages, lower rates on home equity product and auto loans.

developing and managing products

time changes and innovation it the best way to change with it. most of the companys that bring something new to the market or modificate their products tend to be more sudceesful. innovation has a price and that price is higt. companies that have the money to spend in a new product tend to generate more profit but a new product in any category: new to the word product, new product line, addition to existing product, inprovement or revision of existing product, repositioned product or lower price product are a wery spensive invesment and like every product run the risk of falier but to invest on them helps a company to stay in the market.

sales promotion

chase bank is good in its advertising and also in its sales promotion. one example of what chase do to promote their product is to give customers 100 dollars when they open a new savins or cheking acount.

sales promotion

Sales promotion is diferent than advertising and advertising cost much more than advertising. To give an intensive to customers is a good way to give publicity to a product. Every one likes free or dicounts on a product.
cupons are the perfect example for sales promotion. I work in fairway supermarket and they are some items with cupons and even if the customer dont need the item just becouse they have any discount in this casa cupons they buy it, and if they like it they are going to keep buying the product.

chase and its advertisin

chase bank inves alot of money in advertising and it advertisement target a deferent public.
becouse every body is diferent chase has develop a series of advertisement with the purpose of atract deferen tipe of people with diferent age, bacground and life stile.

advertising and public relations

advertising is the most important action to have in consideration when a company whant to sale a product. In now days publicity is almost mandatory and is everywere, the only time that a person is expose to advertising is when it is sleeping.

prices changes(pricing comcept)

i work in fairway market and i am always around products that are constantly changing prices , especially in this time of recession in wish some companies are out of businesse and in orther to keep their businesse functionig they have to find the way to obtain more profit they are force to rise their prices.

prices are the key to revennue (praising comcept)

To know the value of a product and create a price that not only satisfy the customers but to give the managers revenues is essential to a company. when a product is made , there is a entire process that require money , workers , materials and machine. Is an investment that not only is necessary recover but acquired revenues , all this is important at the time of giving a price to a product.
Another basic thing o consider is the whosales price and the retail price but at the end the most important thing is to convince the public that what they paying for the product is the most convenient an d fair price.

Whats new about chase

Chase and 4 other banks are going to have over draft protections on all the checking accouts and this is due to the people complains about the big charges of 30, 50 dollar charges that banks are charging to people for go over some cents. The govermment found this practices that privates banks are practising and find then unfer. If this new plan that this banks and the government has get to function no only for theses five banks but for all the banks at least in the U.S many people are going to be happy. I have a cheking account and at leats onces at month i go over of my limit and i get charge for 32 dollars wish i think is an abuse i had apply for overdraft protection but for some caind of reason i haven't be approve.

Retailing 2

J.P. Morgan Chase strengthens position as top retail banker
By: Steve Daniels Oct. 16, 2009 Sign up for
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(Crain’s) — J. P. Morgan Chase & Co. solidified its position as the clear No. 1 retail bank in Chicago after posting significant marketshare gains while its main competitors, Bank of America Corp. and Harris N.A., lost ground.
Chase increased its deposits in the Chicago metropolitan area by 11% to $45 billion in the year ended June 30, according to newly released data from the Federal Deposit Insurance Corp. Its marketshare increased to 15.84% from 14.91%.
Meanwhile, B of A’s deposits fell by 8% to $33.2 billion, and its marketshare slid to 11.70% from 13.27%. And Harris’ deposits decreased 7% to $24.4 billion, with its marketshare slipping to 8.6% from 9.6%.
Among smaller banks, PrivateBank — run by former senior executives of LaSalle Bank, which B of A acquired in late 2007 — posted a whopping 44% increase in deposits, holding $7.5 billion as of June 30 compared with $5.2 billion a year earlier. PrivateBank, much of whose deposits come from former LaSalle Bank business borrowers that fled B of A, is now the eighth-largest bank in Chicago by deposits.
The annual snapshot of market deposits released by the FDIC can be misleading, particularly when applied to giant national banks like Chase and B of A, which move their commercial deposits between branches and even markets. So, it’s revealing to look at trends after leaving out deposit changes in their main downtown branches, which tend to hold commercial deposits.
Chase, apparently taking advantage of its status as the strongest of the national banks navigating the financial crisis, showed even better growth — 14% — when leaving out its main-branch deposits. B of A, which has yet to repay the government-bailout money it needed after ill-fated acquisitions of mortgage giant Countrywide Financial and troubled investment bank Merrill Lynch & Co., experienced a 12% decline when leaving out its main-branch results.
And Harris’ retail results look much better — a 6% increase in deposits — after adjusting for main-branch fluctuations, a fact the bank emphasized in a statement late Friday.

It doesn't surprise me that chase is letting behind bank of America because the great strategy's that Chase is using. Chase is calling everybody to enter in its large family and is making allot of changing in orther to accommodate to people wants.

Retailing

J.P.morgan chase is one of the top retail banker. They have very good deals when it comes to banking and a great customer service and that's why they make allot of profit even in this time of recession.

Yesterday i went to chase bank to see what was new and the new advertising posters that they are using, and it comes to my mind to ask about loans and how much they were charging and i find out that they have a very low interest rate. Of course depending on the credit that the person has but anyways people trust chase and they would pay a Little more interest for the security and professionalism that chase bank has.

product concepts 2

The great family of chase had created a product that is convinient to every body, it has convine all the things that diferent tipes of group of people and with diferent age want and need. This product is not tangible but it contain all the characteristik that a regular one has. This product is call cervice and good reputation.