Business Strategy and Models Overview

A focus on designing and selling the best products rather than solving customer problems.

A strategy that emphasizes multiple selling channels rather than single product solutions.

An approach focused on solving customer problems and providing tailored solutions.

A perspective where businesses focus on their products and market lead rather than customer issues.

A cooperative work structure where teams from different areas collaborate effectively.

Metrics that evaluate success based on value created for both the customer and the bank.

Strictly defined divisions in an organization that hinder collaboration and communication.

Marketing strategies that respond to customer behavior over time, similar to responses to life events.

A strategy focusing on fulfilling customers' emotional and financial needs.

Goal of developing value-driven, lasting connections with customers.

A strategy where demand leads product development rather than sales pushing products.

Gathering information from customer interactions to improve understanding.

Collaborative efforts across teams to create desirable services for customers.

Balancing personalized services with ease of access for customers.

Success measured by customer satisfaction that benefits both parties.

A customer-centric organization foster collaborative goals among employees.

The transition of customers from being viewed as assets to being the core purpose of a business.

Customers demand respect and value from banks instead of just being targeted for sales.

Customers recognize the worth of their personal data and expect ethical usage by banks.

The rapid use of mobile devices increases the complexity and volume of consumer data.

Laws like GDPR and CCPA give consumers more control over personal data sharing.

Consumers increasingly distrust banks regarding data protection and financial advice.

New digital banks challenge traditional banks by offering innovative business models.

Customers may stop using a bank's services without formally closing their accounts.

A model focusing on short-term profitability and product sales rather than customer needs.

Building trust by understanding customer needs and providing a satisfying experience.

Loss of customer trust due to sales-driven practices and lack of service quality.

Discrepancy between expected customer-centric marketing and the reality of its structure.

A flexible approach in marketing to adapt quickly to changes and customer needs.

Approach focusing on dividing the market into segments to target specific groups.

The difference between how marketing departments should operate versus how they actually do.

Comprehending each customer’s journey and behaviors to enhance relationships and trust.

The favorable perception a customer has after interactions with a business.

The ongoing interaction between a company and its customers.

A focus on maximizing product sales and profits rather than customer needs.

An attribute that allows a company to outperform its competitors.

A market filled with numerous competitors offering similar products or services.

The confidence customers have in a brand over time, nurtured through interactions.

Measurements used by companies to evaluate their performance, often focusing on profits.

Comprehending customers' problems, dreams, and aspirations to tailor services.

A strategy focused on understanding and addressing customers' needs for better engagement.

Changes in customer behavior can significantly affect a bank's revenues and costs.

Encouraging customers to use self-service options to reduce operational costs.

When satisfied customers promote the bank to friends, lowering marketing costs.

Maintained by trust and satisfaction, preventing customer defection to competitors.

Key interactions that shape the customer's perception of the bank.

Strategies to positively alter how customers perceive and interact with the bank.