Bank of America

Running Head : BANK OF AMERICA : I D MARKETS - QUESTION FIVE

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March 31 , 2009

Competition and business can never be separated . Various organizations are frequenting the market day in day out in search of clientele . In a competitive marketing environment , it is not enough to win customers for your products . Marketers are required to be awake at all times , devising and implementing strategies not only to attract more customers but also to cultivate the loyalty of those who they already have in

the basket The bank of America , which is a leading financial / banking institution in America , is in the same marketing predicaments . Operating in a highly competitive and saturated financial market , the scramble for the `few customers is a common practice for them . To solidify their position in the seemingly competitive financial sector , the institution has the intention of correcting the bad image created by the American banking sector , characterized by typically low pro customer servicing . It is thus inevitable for their marketing department in collaboration with R D department to be highly innovative : a prerequisite for coming up market oriented products . To achieve this , a strategic step to use pilot I D markets , to develop , test and then apply the successful programs , is indeed a remarkable idea

The bank of America started what they refereed to as I D market centers by allocating 20 out of the 200 branches in Atlanta , few miles away from the banks headquarter . After one year...