close

Case Study 2

 Case Study a couple of Essay

Identified Trouble

The obvious problem in the Financial institution of America case study is that Jen McDonald (head of the Bank of America digital marketing group), and Douglas Brown (senior vice president of mobile item development) received requests to develop mobile programs more specific for seperate businesses as a way to gain influence (Supta & Herman, 2012). Brown, particularly, was hesitant to add further mobile iphone app features when he feared it will make the software far too intricate. Not only would it prove to be tough for some users to understand, more features often make applications operate more slowly, which may complicate the concept of mobile bank. In addition this can possibly give the customer a more negative encounter. To refer to the problem specifically, Brown stated " Application complexity has resulted in some high-quality failures in the market place. This carries a big risk” (Supta & Herman, 2012). Furthermore, Bank of America was provided 20 dollars billion in capital in the United States federal government during the financial meltdown under command of CEO Kenneth Lewis (Supta & Herman, 2012). Lewis got concerns that certain investors and customers might start to assimialte Bank of America with Citigroup, who previously given up 36% of its possession to the government (Supta & Herman, 2012). This triggered Brian Moynihan (head of consumer and small business banking) taking over since CEO in January 1, 2010 (Supta & Herman, 2012). Limitations and available options

One among Bank of America's alternatives was to make different apps to target distinct groups and market sections, which proved to be somewhat of the risk. Not simply was the firm concerned pertaining to the customers effect, Bank of America was also reluctant because mobile phone apps will be costly and in doing so, technology resources would be taken from different essential regions of banking such as online financial and atm machines.

At this time consumers were not completely trusting in working with all their banks, since financial problems were getting increasingly apparent. To be able to give theBank of America the dependable name and customer dedication it had previously held to get so long, management decided Cellular banking was your right path to take in in an attempt to save the business. Analysis and Evaluation

The bank of America officially introduced their mobile banking application in May of 2007. This included the ability to bank around the customers mobile phones either by application or by being able to access the mobile phone web through their cell phones browser. Douglas Brown confirmed that the achievement of the mobile phone application was astounding as the company attained four , 000, 000 mobile bank customers in the time span of less than 36 months (Supta & Herman, 2012). Because of the dangerous of success, business managers were desperate to update the applications, so that you can raise the level of functionality also higher. This kind of proved to be a choice that needed to be carefully regarded by the Bank of America corporate crew. Strengths:

The financial institution of America already contains the title to be one of the most exclusive banks and a leading business in the U. S. Because of the household name, advertising new products end up being fairly easy; however identifying a product that customers will certainly adopt and figuring out the target market are crucial to Traditional bank of America's success.

An additional durability of the mobile phone banking application was the time in relationship to the launch of the software and the release of the iPhone, making Financial institution of America the 1st bank to be able to offer a financial application within the iPhone. The best features of mobile banking originated from viewing consideration balances and viewing deal details, making debit card holders the most famous users. Following the mobile banking launch even more customers opened up checking accounts in the weeks of the launch of mobile phone banking and did the truth is use the app during that time. Weaknesses:

A weakness proven by Lender of America proved to be...

 Ptsd Annotated Bibliography Article

Ptsd Annotated Bibliography Article

Chad Patterson Ms. Taylor English language 1302-06 29 September 2011 PTSD and Iraq Figley, Charles harles R., and William Bill P. Nash. Combat Tension Injury, Theory, Research…...

Read
 Essay regarding Case of Legal Issues for Aviation Industry

Essay regarding Case of Legal Issues for Aviation Industry

CASE-2 Accused: - KINGFISHER AIRLINE. Individual: - HOJALATA SIKRI. Section Consumer Arguments Redressal Forum-I, UT Chandigarh (for brief the ‘District Forum') in complaint case…...

Read