Marketing Management Concepts: Peoples Bank; channels of distribution
Not what you're looking for?
As mentioned earlier, Peoples Bank, based in Connecticut, uses its web site as a key channel for reaching individuals, business customers, and prospects. Not only can customers e-mail the bank with questions, they can click on a link to have a bank representative call them with further information or choose another link if they want to chat online. In addition, prospects can open new accounts online, print out and fax account applications, and even order printed checks with a few keystrokes. Now the company has expanded its financial services offerings by adding insurance products for consumers and businesses.
1. What role is Peoples.com playing in the distribution of these insurance products?
2. What is the length of the channel the bank uses to distribute its own checking account products?
3. How would you describe the channel positioning of People's Bank?
4. What is People's unique selling proposition (USP) OR unique value and proposition?
Section 2
How would you, a manufacturer of exercise equipment, benefit from the addition of another channel of distribution to the two-level channel it now uses?
When motivating channel members, you have several sources of power from which to draw. List those sources and give an example of how each can be used.
Purchase this Solution
Solution Preview
1. What role is Peoples.com playing in the distribution of these insurance products?
As we can see in its website, the company offers a full range of insurance products under categories like life, term, permanent life, mortgage, long term care, auto home and other personal insurance. All these categories are customized for different needs and situations. The firm offers these products via its subsidiary RC Knox & Co. and its division, Beardsley, Brown and Basset. The bank also acquired some smaller insurance companies to form the Peoples Insurance Agency in the wake of the Gramm-Leach-Bliley Act. Peoples Bank is currently evaluating whether the demand is sufficient to justify the additional types of coverages and offers insurance products through online channels.
2. What is the length of the channel the bank uses to distribute its own checking account products?
The length of the channel that the bank uses to distribute its own checking account products is very short. Customers can go to their local branches or change or upgrade their existing accounts through the bank's website. Bank offers e.plus, people's plus, advantage plus, advantage plus premium and student checking accounts.
3. How would you describe the channel positioning of People's Bank?
The bank operates like a financial supermarket. Services focused on banking products and related products, i.e. deposit, loans, credit card, trust banking and investments. Transactions involved are more on electronic services such as bill payments, balance inquiry, statement downloading, and fund transfer. This concept is basically a "Vertical Portal (VORTAL)", wherein the content revolved around, a central theme, which is banking.
4. What is People's unique selling proposition (USP) OR unique value and ...
Education
- BSc, Dokuz Eylul University
- MBA, Texas A&M University-Kingsville
Recent Feedback
- "Thanks"
- "Thanks"
- "This is a great help...Thank you"
- "Thanks for the advice!"
- "Oh my gosh u are awesome... A++"
Purchase this Solution
Free BrainMass Quizzes
Managing the Older Worker
This quiz will let you know some of the basics of dealing with older workers. This is increasingly important for managers and human resource workers as many countries are facing an increase in older people in the workforce
Situational Leadership
This quiz will help you better understand Situational Leadership and its theories.
Business Processes
This quiz is intended to help business students better understand business processes, including those related to manufacturing and marketing. The questions focus on terms used to describe business processes and marketing activities.
Cost Concepts: Analyzing Costs in Managerial Accounting
This quiz gives students the opportunity to assess their knowledge of cost concepts used in managerial accounting such as opportunity costs, marginal costs, relevant costs and the benefits and relationships that derive from them.
Change and Resistance within Organizations
This quiz intended to help students understand change and resistance in organizations