Bank of America Marketing Plan Essay

Abstract lodge of the States is a fiscal institution, serving individual consumers, small and affectionateness market place businesses, corporations and Governments with a range of banking, investing, asset forethought and new(prenominal) monetary and risk management products and services. I choose situate of the States for many reasons it is fool fall upon and good financial mail service largest bank in the America market and stable and growing sector in US. Through its banking and various nonbanking subsidiaries finishedout the United States and in international markets, the Company provides a range of banking and nonbanking financial services and products through five business segments Consumer & amp Business intrusting, Consumer veridical Estate Services, global shoreing, Global Markets and Global Wealth & enthronization Management.Bank Of America Marketing PlanCurrent SituationBank of America is a financial institution, serving individual consumers, small and m iddle market businesses, corporations and Governments with a range of banking, investing, asset management and some other financial and risk management products and services. Through its banking and various nonbanking subsidiaries throughout the United States and in international markets, the Company provides a range of banking and nonbanking financial services and products through five business segments Consumer & Business Banking, Consumer Real Estate Services, Global Banking, Global Markets and Global Wealth & Investment Management. In October 2013, Bank of America Corporation announced the completion of the merger of its Merrill Lynch & Co., Inc. subsidiary into Bank of America Corporation.CompetitorsSome of Bank of America competitors ar Wells Fargo, HSBC, JPMorgan, and Citigroup.Market ObjectivesMeredith Verdone, is Bank of Americas head of brand marketing. In an interview she said that the bank is trying to have more than humility approach for a change. Bank of Am erica focus is on customer needs. Bank of America has a new campaign life story is better when we are connected. Message of bank of America is to be in the background and help people in their day-to-day lives.Product dodgingBank of America mountain passs products and services to consumers and businesses. It offers checking, Savings, credit cards, loans, mortgages and investing options. Bank of America has competitive price based on the product and services they offer to their clients.PlaceBank of America serves its cliental universewide. It is based locally and internationally.Promotion schemaThe launch of the consumer campaign gave Bank of Americas retail branches, outfit them with iPads and ATMs with videoconferencing capabilities as well as improvements to the banks website and mobile offerings. Bank of America claims that they see 50,000 downloads a week of its mobile app.Action ProgramsBank of America uses more human advertising and approach to its client. It wants to be abstruse with clients day-to-day activities. They frequently advertise on video recording using real situations with the logo life is better when we are connected. cypherBank of Americas annual marketing budget is $2billion.Measurements SalariesThe norm salary for measurements & reporting analyst bank of America jobs is $42,000. honest measurements & reporting analyst bank of America salaries can change greatly due to company, location, industry, experience and benefits.WOT AnalysisSWOT AnalysisStrengthsWeaknesses blind drunk brand name and good financial positionLargest bank in the America marketStable and growing banking sector in USExcellent Service and product innovationOver 285,000 employee across the worldServes clients more than 150 countriesATM ConvenienceWeak asset positionConsumer credit controversiesBad MortgagesCriticized by its customers for raising interest rates mellow staff turnoverWeak wholesale bankingOpportunitiesThreatsExpansion in other countriesDiver sifying portfolios for customersGrowing credit card value for the consumersFurther consolidation in the banking industryChanging government regulations and financial crisis like recessionsCompetition from other banksRestrictions in capital marketThe Mission Statement of Bank of AmericaOur mission is to offer lending and investment products thatServe low-and moderate-income individuals and familiesImprove underserved low- and moderate-income communities render sustainable practices for the long haul