Team 7 - Final Presentation
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Transcript of Team 7 - Final Presentation
National Bank Trust Product Customer Analysis and Penetration Strategy
Fortune Spring 7 LeonardoZhang, Cheng Chen
Segmentation and Targeting
Identify Target Age Group • Client bank has more than 3% higher proportion than the random population’s in
two age ranges
• Focus on 19~25 age group Lower acquisition cost for 19~25 age group. They have more development potential and longer service time. Higher acquisition cost for 46~60 age group. They probably already have stable relationship with other trust companies.
Segmentations within 19~25 Age Group • Typical customers are relatively wealthy people and tend to be married. • One of the most important index to do segmentation is wealth level.
Random population 19~25 age group
Existing customer 19~25 age group
Cluster‘s centers: wealthIndex marital_status 1 1034.6963 2.254446 2 432.0926 2.296321
Cluster‘s centers wealthIndex marital_status 1 1873.518 2.154185 2 1083.900 2.163636
Target segments:
Wealth index 1600~2000 Wealth index 800~1200
wealthIndex = 5*median_income + median_home_value Marital_status: 1=NA, 2=married, 3=single
More Insights from Random Population Data
52% 48%
Wealth Index 1600~2000
52% 48%
67%
32%
Average
53% 46%
73%
27%
Wealth Index 800~1200
55% 45%
Segment 1: • 16% more single • 2% more male • Average median annual income: 219K • Average household value: 687k
Segment 2: • 6% more married • 2% more female • Average median annual income: 95K • Average household value: 517k
19~25 age group
Married
Single
Female
Male
Target Customer Analysis
Typical Types
Young Elites Professional Talents
Annual Income 220k 100 k
Home value 690k 520 k
Marital Status Single Married
Gender Male Female
Family structure 3 = 2 adults + 1 child 4 = 3 adults + 1 child
Occupation Doctor/ Professor/ CEO/CFO/ Lawyer Programmer/ Designer/ Sales/ Pilot
State TX /NJ/ PA CA/ NY/ TX
Interest Travel/ Reading/ Sports&Fitness/ Gambling Travel/ Reading/ Sports&Fitness
Personas
Kim Kim is a 25-year-old programmer living in San Francisco, she married 2 years ago and has a 1-year-old son. Kim likes reading during spare time and she travel with her family several times per year. Kim and her husband now are considering saving money regularly for their son’s education.
Mike After graduation, Mike started his own business with 2 college friends and the company has been profitable 3 years later. As the CEO of a company, Mike spends most of his time on work and have less time for personal life. However, Mike likes gambling and traveled to Las Vegas most of his Christmas vacations.
Linda Linda has been a lawyer for 1 year after graduating from the Law School at University of Pennsylvania. Now she lives in Philadelphia. Linda has a dream to have her own law firm someday and she really enjoys reading suspense fictions. Besides, Linda likes designer clothes and is willing to pay several thousand on it every year.
Internet-SavvyGrew up with computers and comfortable with software
Stable SeekerWent through two crashes
Net-WorkingNeed an educated and wise mentor
Work-FocusedNever trade time for money
Family StarterJust build family or about to build family
Characteristics Analysis �
4Ps Suggestions
Product
Investment management services Diversified investment portfolio “Lower risk and taxes”
U.S. Stocks
ForeignStocks
Foreign Currency
NaturalResources
Municipal Bond
Go on-line “A World-Class Investment Team manages your investment account for you 24/7.” Service focused “We’ll do all the work so that you can focus on the other things that really matter to you.”
Price
$3000
$999
National Bank
Traditional Advisor
Annual fees for $100k investment
Lower fees lower taxes “Don’t have to pay up to 3% per year in management fees, hidden fees, and other fees to get sophisticated investment management from someone that will give you a fraction of their time.”
Wealth management lectures in top universities
Cooperate with university financial center
Offline Industry networking opportunities
Build functional social media platform
Transfer existing customers
Promotion �
Membership Bonus Plan
Cater to target customers’ interestsGenerate existing customers’ referrals
Travel coupon
Free kindle
Free book
N&B coupon
Fans meeting
Free gym membership
Free sports
games ticket
Fans meeting
Free Las
Vegas Trip
Free family education
classes
Family activities
Place
Potential 19~25 customers' top citiesExisting 19~25 customers' top cities
Focus on West and East Coast cities Middle and north cities have big potential
Social Media Marketing
Mail and email advertising
Cold Call
Young Sales Team