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Evan’s Portion (SWOT and Strategy)

Evan’s Portion (SWOT and Strategy). MKTG384. Strengths. Focusing on Virginia bankers and alumni Specific location in Virginia Beach allow for face-to-face banking interactions No minimum checking balance, no ATM fees Online banking

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Evan’s Portion (SWOT and Strategy)

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  1. Evan’s Portion(SWOT and Strategy) MKTG384

  2. Strengths Focusing on Virginia bankers and alumni Specific location in Virginia Beach allow for face-to-face banking interactions No minimum checking balance, no ATM fees Online banking Alumni banking benefits: giving back to JMU, better financing

  3. Weaknesses Narrow target market Limited to Virginians and JMU alumni Almost 30% of student/alumni population are from outside of Virginia

  4. Opportunities 63,000 JMU alumni in Virginia, mostly in Northern and Shenandoah Valley areas Also where most StellarOne locations are Being small and local, they can offer free checking and nice rewards, which big banks can no longer do Only 7% of alumni give back while 97% say they would recommend JMU This presents a large room for expansion and growth

  5. Threats Competing banks, such as national chains that can give customers easy access in many states Commonwealth One is a big threat because they offer banking on campus that attracts current students and may hold their business as alumni

  6. Media Strategies • Best ways to reach JMU alumni • Internet • Radio • Newspapers • Busses

  7. Media Strategies (Cont’d.) Wave and concentration placement strategies Wave would allow combination of all different media Concentration would allow StellarOne to take each medium and make it the best it can be

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