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Peoples Bank: describe their channel positioning and unique selling proposition

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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.

Visit the Peoples Web site (www.peoples.com). After looking at the home page, follow the link to read about Online Services and click for a demonstration of People's Online. Next, follow the Insurance link and dig deeper by clicking on Auto, Home, and Other Personal Insurance.

How would you describe the channel positioning of People's Bank?
What is People's unique selling proposition (USP) OR unique value proposition?

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Solution Summary

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"So, the USP is the ease of operation at a very reasonable price. This strategy is designed to attract those customers who either don't have the time to visit banks or insurance companies and those who have access to Internet and are willing to do all their transactions online."

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How would you describe the channel positioning of People's Bank?
The channel positioning of People's bank refers to the perceptions of customers to the channels of People's Bank. This channel. If the claims of the website are to be believed then the bank's channels would be perceived to be user-friendly, easily accessible over the internet, account history would be easily accessible, easily handles for the purpose of stopping payment and improving cash management. The website is positioning the accounts as easy for making ...

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