Noreaster Maximizing Revenue

According the Kettle and Keller (201 2), this analysis will help to identify areas that affect a companys ability to earn profits. BOA is the leading monetary service provider in twenty-three major cities. They are also the number one in online & vigorous banking and mortgage services. They strengths lies within building a strong brand, multiple financial service offerings, engaging customers, and customer service. However, their weakness became prevalent when the decision was to made to only offer mobile banking to customers who already had an online banking account.This left-hand(a) an untapped market exposed to competition and BOA risked losing customers and reducing their market share. BOA also ignored a large mobile market of non sweet phone users who would use the SMS-technology for mobile banking. This left 85% of potential mobile phone customers on tap(predicate) to be snatched by competition, such as Comparing drop behind who decided to roll- out their mobile banking with mobile messaging. Identifying the external opportunities and threats are also important for a company to remain competitive.Kettle and Keller (2012) define marketing opportunity as an area of buyer need an interest that a company determines to be profitable. BOA decision to enter into the mobile banking industry was critical to their long-term success. In the case study, several forecasts were reported to show the future projections of mobile phone users and mobile banking transactions to grow 600% by 2014. Additional opportunities to service their mobile banking customers is available as customer needs and technology changes. The main threat that BOA faces is their competition.There are ten banks that support almost 50% of the U. S. Market. While BOA is the currently the largest, their competition still exists and offers similar services. Another threat that exists is the customers apprehension to use online or mobile banking. The case study states that 1% of BOA customers us ed online banking. Customers states that they didnt check out the value in online-banking concerns about security, and cost of data usage through cell- phone providers. BOA should focus on addressing these concerns in order to build their mobile banking customers.