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Bank of America Mobile Banking Strategy: Assessment and Suggestions
Added on -2019-09-20
This paper assesses the current situation of Bank of America's mobile banking strategy and suggests strategies to improve it. It includes PEST analysis, Porter's Five Forces analysis, SWOT analysis, and tactical plans for marketing campaigns to increase customer perception.
| 8 pages
| 2558 words
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BofA Mobile Banking Case
Executive SummaryThe current paper is concerned with understanding the current situation of the bank of America and suggest certain strategies that can help it in the mobile banking strategy. The paper suggestedfew strategies such as improving the perception regarding the mobile banking, increasing the distribution of services through the mobile banking, and others. The tactical plan for increasing customer perception has been suggested. It has been suggested that the use of social media can be adopted to reach the customers and improve their level of perception regarding the mobile security and the services. Moreover, the bank can advertise in radio, television, and magazines regarding the mobile banking to increase the adoption rate.
Table of ContentsExecutive Summary.........................................................................................................................1Introduction......................................................................................................................................3Current Assessment.........................................................................................................................3Key Issues....................................................................................................................................3PEST Analysis.............................................................................................................................4Porter’s Five Forces Analysis......................................................................................................4SWOT Analysis...........................................................................................................................5Competition.................................................................................................................................6Consumer Expectation.................................................................................................................6Strategic Options.............................................................................................................................6Tactical plans...................................................................................................................................7References........................................................................................................................................7
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