Live Bank Case Study. Applying CBA Executive Banking School learning objectives to a Live Case Study on a current relevant topic Applying Retail Bank

Live Bank Case Study

Applying CBA Executive Banking School learning objectives to a Live Case Study on a current relevant topic

Applying Retail Bank MarketSim learning objectives to a Live Case Study on a current relevant topic

Applying Live Case Study activities to the Inter-session Assignment

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Course Objectives

Introduction3

Who are the Millennials?

In what forms should they be communicated with?

What products might they need?

How might they want them delivered?

If millennials are the new mass affluent, how would bank strategies have to change to accommodate them?

How should success be measured?

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The Components of this Live Bank Case Study


Live Bank Case Study5

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• Demographics• Psychographics• Major events that impacted their

thinking/shaped their lives• Attitudes towards technology• Attitudes towards money• Attitudes towards work• What is success to Millennials?

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• What products might they need?o Managing daily moneyo Savingso Credito Investingo Other

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Branch

Call Center

ATM

Online

Mobile

Other

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• If Millennials are the new Mass Affluent, how would bank strategies have to change to accommodate them?

• How should success be measured?• Financial• Balanced Scorecard measures

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Customers


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• Basic demographics• Basic psychographics• Major events that impacted their thinking and

shaped their lives• General attitudes towards technology• General attitudes towards money• General attitudes towards work• What is success to Millennials?

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Customers

• Is your subject bank doing anything now? If so, what?

• How would you communicate with them? Why?• What would the message be?• Develop a plan for marketing mix• What are the budget implications?• How might a Millennial segment strategy impact

other targeted segments?

What’s Next?

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Don’t Forget the Process

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Analyze

Plan

Forecast

Execute

ReviewRetail Bank

MarketSimProcess Flow

Target for Live Case

Study

Research

Create

DiscussRefine

Document

What’s Next?

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• Bank Websiteo Annual Reporto Investor Reports

• News Articles• Google/Bing/Yahoo

Research

Remember! To remember where you found your information. Document your sources by saving the URLs.

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• After researching the topic craft a draft response to the topic questions using the appropriate forms stored in the CBA Executive Banking School Website. In this case two LCS Answer Sheets – Who are the Millennials and Customers.

Create

Live Case Study – Who are the Millennials?

Name E-mail

Date [Click to select date] Team

Answer the following questions to answer the question, “Who are the Millennials?”

1. What are their basic Demographics?

[Click to type your response]

2. What are their basic Psychographic characteristics?


3. List the major events that impacted their thinking and shaped their lives


4. What are their general attitudes towards technology?


5. What are their general attitudes towards money?


6. What are their general attitudes towards work?


7. What defines success to Millennials?


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Getting to CBA Executive Banking School Website

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Getting to CBA Executive Banking School Website

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Finding the Appropriate Worksheet for the Case

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Finding the Appropriate Worksheet for the Case

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Live Case Study – Who are the Millennials?

Name E-mail


Answer the following questions to answer the question, “Who are the Millennials?”

1. What are their basic Demographics?


2. What are their basic Psychographic characteristics?


3. List the major events that impacted their thinking and shaped their lives


4. What are their general attitudes towards technology?


5. What are their general attitudes towards money?


6. What are their general attitudes towards work?


7. What defines success to Millennials?


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Live Case Study – Customers

Name E-mail


Answer the following questions to generate a point of view of Millennials as customers.

1. Is your bank doing anything focused on Millennials new? If so, what?


2. How would you go about communicating with Millennials? Why?


3. What would the message be?


4. Develop a high-level plan for marketing mix?


5. What are the budget implications?


6. How might a Millennial segment strategy impact other targeted segments?


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Discuss, Refine & Document

• Review your findings with your team• Exchange sources• Adjust your responses to final form• Add source document information – Title and

URL• Save and Upload to the CBA Executive

Banking School WebsiteDo not change your response to match the rest of your team! There are multiple appropriate responses to most questions. Do change your responses to provide a more complete and well rounded answer.

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Products


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Products

• What are Millennials' attitudes towards:o Payments (checks, debit, “P to P”, credit card)o Debt (auto, mortgage)o Savings (short-term)o Wealth & Investments (long-term)o Retirement

• Are they unique?• Are they unreasonable?

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Products

• What existing bank products fill those needs?o Managing daily moneyo Credito Savingso Investingo Other

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Products

• What are the gaps in existing bank products?• Is anyone filling those gaps? If so, who?• What investments need to be made to fill

those gaps and meet Millennials’ expectations?

• Will those expectations change as Millennials progress through one life stage to the next?

What’s Next?

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30

Analyze

Plan

Forecast

Execute

ReviewRetail Bank


Target for Live Case

Study

Research

Create

DiscussRefine

Document

What’s Next?

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Research


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• After reading materials craft a draft response to the topic questions using the LCS Products form

Create Live Case Study – Products

Name E-mail


Answer the following questions to generate a point of view of Millennials concerning products and

product usage.

1. What are Millennials’ attitudes towards:

a. Payments (checks, debit cards, credit cards, “P to P”)


b. Debt (auto, mortgage, others)


c. Savings (short-term)


d. Wealth & Investments (long-term)


e. Retirement


2. Are they unique? Why?


3. Are they unreasonable? Why?


4. List existing bank products that fill Millennials’ needs described in their attitudes towards bank products listed above:

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Delivery


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Branch

Call Center

ATM

Online

Mobile

Other

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Delivery

• Are customers’ preferences on how they interact with banks changing? If so, how so?

• What is your doing in response to changing customer preferences to delivery of bank products and services?

• Is the industry acting ahead, behind or in line with customer expectations?

• What are the risks;o Of moving too quickly?o Of moving too slowly?

• Is there a significant competitive advantage in;o Moving quickly?o Or moving slowly? o Is the advantage sustainable?

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Delivery

• What are the delivery requirements of the Millennial generation?

• From the perspective of Delivery, what industry has effectively captured this segment?

• Can your bank emulate it? Should it? Why or why not?• Consider changes that need to be made within branches to

encourage customers to further change their behaviors.• What is your bank doing to reduce costs in the branch

network?o Will this create service gaps?o If so, what could be done to bridge those gaps

What’s Next?

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Analyze

Plan

ForecastExecute

ReviewRetail Bank


Target for Live Case Study

Research

Create

DiscussRefine

Document

What’s Next?

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Research


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• After reading materials craft a draft response to the topic questions using the appropriate forms

CreateLive Case Study – Delivery

Name E-mail


Answer the following questions to generate a point of view of Millennials concerning delivery

channels.

1. Are customers’ preferences on how they interact with banks changing? If so, how so?


2. What is your bank doing in response to changing customer preferences to delivery of bank products and services?


3. Is the industry acting ahead, behind or line with customer expectations?


4. What are the risks of moving too quickly? Of moving too slowly?


5. Is there a significant competitive advantage in moving quickly? In moving slowly? Is that advantage sustainable?


6. What are the delivery requirements of the Millennial generation?


7. From the perspective of Delivery, what industry or company has effectively captured this segment?


8. Can your bank emulate it? Should it? Why or why not?


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Strategy


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Strategy

• What are the implications of ending current bank strategies that have been focused on the mass affluent/baby boomers and implementing a new strategy customized to attract and serve millennials?

• What are the primary elements of strategy?• Address each in developing a bank strategy

with a focus on Millennials.

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Strategy

• Compare with current bank strategy.o What are the primary gaps?o Can they be bridged? o If so, what would be the impact to profitability? o If not, why not?

• Are any banks doing well targeting millennials? o Are any businesses doing well targeting

millennials?o What are their keys to success?

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Performance Measurement


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Performance Management

• Evaluate MarketSim BSI in measuring success with millennials, Which elements are relevant? Which are not?

• List measurements that would be important in measuring success with millennials and why you selected those elements.

• How would these numbers be obtained?• Which metrics would you feel comfortable

paying bonuses or commissions on and why?

What’s Next?

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Analyze

Plan

ForecastExecute

ReviewRetail Bank


Target for Live Case Study

Research

Create

DiscussRefine

Document

What’s Next?

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Research


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• After reading materials craft a draft response to the topic questions using the appropriate forms

CreateLive Case Study – Strategy & Performance Measurement

Name E-mail


Answer the following questions to generate a point of view of Millennials concerning strategy and

performance measurements.

1. What are the implications of ending current bank strategies that have been focused on the mass affluent/baby boomers and implementing a new strategy customized to attract and serve millennials?


2. What are the primary elements of strategy?


3. Address each in developing a bank strategy with a focus on Millennials.


4. Compare with current bank strategy. What are the primary gaps? Can they be bridged? If so, what would be the impact to profitability? If not, why not?


5. Are any banks doing well targeting millennials?


6. If so, what are their keys to success? If, not what will the keys to success be?


7. Evaluate MarketSim BSI in measuring success with millennials. Which elements are relevant? Which are not?


8. List measurements that would be important in measuring success with millennials and why you selected those elements.


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Documents

Live Bank Case Study. Applying CBA Executive Banking School learning objectives to a Live Case Study on a current relevant topic Applying Retail Bank