The pre-analysis to the Wells Campaign

1. The
Industry
Today’s
banking
industry
is
getting
more
and
more
competitive
as
different
banks
are
trying
to
gain
a
greater
number
of
customers
than
their
competitors.
While
they
all
offer
mostly
the
same
services,
some
banks
offer
certain
services
at
better
rates
and
have
better
methods
to
promote
those
services.
In
the
past
decade,
investment
activities
and
commercial
banks
have
shown
an
increasing
mergence.
Additionally,
today’s
banking
industry
is
increasing
the
diversification
of
businesses.
With
these
changes,
and
others
(underwriting
securities,
portfolio
placements,
investing)
banks
are
becoming
a
more
important
entity
within
the
global
business
community.
A
technique
banks
use
to
attract
customers
is
offering
promotions
that
are
able
to
catch
the
eyes
of
the
consumers.
Since
banks
all
basically
offer
the
same
services
as
each
other,
a
consumer
could
research
the
trends
of
the
banking
industry
to
see
what’s
more
popular
and
why
that
is.
Wells
Fargo
offers
an
abundance
of
services
to
its
customers
in
order
to
attract
them
and
keep
them
as
loyal
customers.
While
some
of
the
services
are
repeating,
there
are
three
different
categories
to
appeal
to
different
types
of
customers;
personal,
small
business
and
commercial.
Under
the
personal
category,
one
would
find
choices
of
online
banking,
mobile
banking,
checking,
bill
pay,
savings
&
CDs,
credit
cards,
home
lending,
home
mortgage,
home
equity,
student
loans,
personal
loans,
auto
loans,
retirement
investment
opportunities
and
mutual
funds.
All
of
the
aforementioned
services
plus
many
more
are
personal
services
that
customers
could
take
advantage
of.
The
small
business
category
holds
many
of
the
same
attributes
as
well
as
some
specific
to
the
business
world.
Such
attributes
include
a
payroll
option,
merchant
services,
insurance,
investment
opportunities,
direct
pay
and
foreign
exchange
online.
The
commercial
category
is
basically
a
combination
of
the
personal
and
small
business
categories,
but
for
bigger
companies.
I
looked
at
a
variety
of
other
banks
including
Bank
of
America,
First
Bank
and
Trust
Company,
Air
Academy
Federal
Credit
Union
and
Chase
Bank.
All
of
them
offer
the
same
services
but
I
noticed
that
they
separate
them
a
little
differently.
Such
as,
having
retirement
and
investment
opportunities
in
their
own
section
or
adding
a
personal
lending
category
which
just
includes
the
loans
and
mortgaging
services.
As
I
mentioned
earlier,
banks
have
all
kinds
of
promotions
and
give-­‐a-­‐ways
to
attract
customers.
The
most
popular
promotion
is
receiving
anywhere
from
25-­‐400
dollars
for
opening
a
checking
account.
When
someone
opens
a
new
checking
account
they
will
have
a
certain
amount
of
money
put
into
their
account
after
a
pre-­‐determined
time
period
has
passed,
usually
six
to
eight
weeks.
Capital
One
bank
gives
consumers
the
option
to
open
three
different
accounts
in
which
100
dollars
will
be
deposited
into
each
account,
thus
up
to
300
dollars.
Citibank
potentially
offers
$400
for
opening
a
new
checking
account
with
them.
However,
the
new
banker
has
to
meet
all
the
qualifications
as
well
as
complete
a
few
different
tasks
in
order
to
receive
all
400
dollars.
A
few
of
the
tasks
are
making
a
deposit,
paying
bills
online
and
enrolling
in
their
ThankYou
Rewards
program.
Referring
new
customers
to
a
bank
can
also
earn
an
individual
money
plus
the
new
customer
also
receives
money
for
opening
account.
Again,
it
will
take
six
to
eight
weeks
for
the
money
to
be
deposited
into
the
account.
Wells
Fargo
has
a
special
promotion,
The
Backstage
Sweeps,
where
six
lucky
Wells
Fargo
bankers
can
win
$5,000
to
use
to
travel
the
world.
Other
prizes
in
this
sweepstake
include
GPS
units,
camcorders,
cameras,
ipods
and
headphones.
To
qualify
for
this
sweepstake,
one
must
be
a
legal
resident
of
the
U.S.,
is
a
full-­‐time
or

2. part-­‐time
student
in
a
secondary
school
or
further
advanced
and
have
a
Wells
Fargo
account.
To
enter,
all
that
needs
to
be
done
is
opening
an
account
or
filling
out
the
entry
form
on
the
Wells
Fargo
website.
Another
promotion
banks
offer
is
bonus
points.
Chase
bank
offers
50,000
bonus
points
if
one
spends
$3,000
in
the
first
three
months.
The
50,000
points
comes
out
to
about
$625
worth
of
travel
dollars.
These
are
just
a
handful
of
the
numerous
promotions
banks
offer
to
their
consumers.
The
Company
Henry
Wells
and
William
Fargo
founded
Wells
Fargo
&
Co.
on
March
18,
1852
in
New
York.
They
wanted
to
serve
the
west
in
the
banking
industry.
Wells
and
Fargo
would
buy
gold
sell
paper
bank
drafts
that
were
just
as
good
as
gold.
Another
service
they
offered
was
delivering
anything
valuable
to
people,
or
express.
On
July
13th,
the
same
year,
the
first
branch
was
opened
in
San
Francisco.
Soon
after,
Wells
Fargo
agents
began
opening
new
offices
in
different
cities
and
mining
camps
scattered
all
over
the
West.
Wells
Fargo
rapidly
earned
peoples
trust
and
before
long
they
had
captured
their
corporate
symbol
–
an
overland
stagecoach
line.
Henry
and
William
wanted
to
transport
their
customers
money
by
the
fastest
means
of
transportation
and
that
included
steamships,
pony
riders,
railroads,
telegraphs
and,
of
course,
the
stagecoach.
In
1866,
Wells
Fargo
teamed
up
with
all
major
western
stagecoach
lines
in
order
to
have
the
ability
to
gain
more
ground
in
less
time.
All
the
stagecoaches
teaming
with
Wells
Fargo
&
Co.
advertised
the
company
name
on
their
stagecoaches.
Henry
and
Williams’
business
now
covered
over
3,000
miles
ranging
from
California
to
Nebraska
and
Colorado
up
to
Montana.
The
3,000
mile
range
wasn’t
enough
for
the
two
successful
businessmen.
Once
the
transcontinental
railroad
was
finished
in
1869,
Henry
and
William
started
taking
advantage
of
the
railroad
system.
By
1888,
with
the
help
of
the
new
railroads,
they
had
expanded
all
the
way
to
the
Northeastern
part
of
New
York.
With
this
expansion,
Wells
Fargo
was
accepted
as
the
“country’s
first
nationwide
express
company.”
Because
of
this
development,
they
took
on
board
the
motto,
“Ocean-­‐to-­‐
Ocean.”
Wells
Fargo
serviced
over
2,500
communities
dispersed
among
25
states.
Between
1888
and
1910
Wells
Fargo
would
continue
its
expansion
across
the
nation
east
to
west
and
north
to
south.
The
company
had
reached
6,000
locations
including
offices
all
the
way
up
in
the
Great
Lakes
region.
Because
of
the
expansion,
Wells
Fargo
could
deliver
all
sorts
of
items
that
their
customers
wanted
including
grapefruits
from
Florida.
In
1918,
Wells
Fargo
reached
to
10,000
communities
across
the
U.S.,
but
then
came
World
War
I.
The
federal
government
grabbed
hold
of
the
reins
of
the
nation’s
express
network
and
brought
a
halt
to
Wells
Fargo.
A
halt
so
mighty
that
Wells
Fargo
was
diminished
to
its
very
beginning…one
bank
in
San
Francisco.
World
War
I
stopped
Wells
Fargo,
but
that
wasn’t
the
end.
It
was
time
to
rebuild
and
since
Wells
Fargo
already
vastly
expanded
once,
why
couldn’t
it
be
done
again?
Leading
up
to
the
1930s
there
was
only
the
one
bank
in
San
Francisco.
Services
offered
were
supporting
the
growing
businesses
and
agriculture
and
that
included
the
aerospace
program,
fledgling
auto
and
the
film
industry.
The
Wells
Fargo
Stagecoach
hit
the
big
time
as
a
popular
actor
in
Hollywood
Westerns.
Soon
World
War
II
came
and
Wells
Fargo
was
positioned
to
meet
new
consumer

3. banking
needs
after
the
war
was
ended.
It
was
time
to
expand
again,
expand
to
what
we
have
today.
Drive-­‐ups
were
created,
banking
by
phone
became
a
possibility,
credit
cards
are
available,
ATM’s
are
everywhere
and,
with
the
internet
now,
online
banking
is
becoming
more
and
more
used.
It
wasn’t
until
the
1990s
that
Wells
Fargo
was
back
at
its
Ocean-­‐to-­‐Ocean
stage
and
here
it
is
still
expanding
today.
Wells
Fargo’s
vision
is
“We
want
to
satisfy
all
our
customers’
financial
needs
and
help
them
succeed
financially.”
The
company
is
doing
this
throughout
41
states
and
the
District
of
Columbia.
Scattered
among
their
vastly
covered
area,
there
are
over
6,200
locations,
more
than
12,000
ATM’s
and
team
exceeding
282,000
people.
All
of
this
plus
more
adds
up
to
the
1.3
trillion
dollars
in
assets.
Wells
Fargo
has
a
reputation
of
being
the
fourth
largest
bank
in
the
U.S.
by
assets,
however
by
market
capitalization,
it
is
the
largest.
Also,
it
gained
title
of
second
largest
bank
by
deposits,
debit
cards
and
home
mortgaging.
Wells
Fargo
became
the
23rd
largest
company
in
2011.
To
gain
these
kinds
of
titles,
a
company
has
to
have
strengths
over
other
companies.
Some
of
Wells
Fargo’s
strengths
are
cost
advantage,
innovation,
online
growth,
loyal
customers,
strong
brand
equity,
supply
chain
and
pricing.
On
the
other
end
of
the
spectrum
each
company
has
its
weaknesses.
Some
weaknesses
Wells
Fargo
possesses
are
bad
communication,
low
market
share,
not
diversified
enough,
poor
supply
chain
and
weak
real
estate.
With
all
these
weaknesses
though,
the
company
has
done
very
well.
Wells
Fargo
started
from
scratch,
expanded
vastly,
got
knocked
all
the
way
back
to
the
beginning
and
then
came
back
with
even
more
power.
History
is
still
in
the
making
for
this
growing
company.
Promotion
Wells
Fargo
keeps
finding
new
ways
to
promote
the
company
in
order
to
gain
new
customers.
Their
promotions
range
from
giving
away
little
stuffed
animals
to
being
a
grand
prize
winner
of
$5,000
dollars
for
a
vacation.
Like
any
company,
they
had
their
promotions
that
were
very
effective
and
some
that
were
not.
These
little,
or
big,
promotions
really
attract
people
just
because
it’s
something
for
free
and
anything
for
free
these
days
is
fantastic.
As
mentioned
in
class,
for
opening
a
checking
account,
that
individual
would
receive
a
stuffed
horse.
Marketers
found
that
the
little
stuffed
horse
was
very
popular
and
they
are
continuing
to
offer
them
around
the
holiday
season.
For
a
holiday
season,
Wells
Fargo
comes
out
with
a
couple
different
kinds
of
horses
and
names
them.
Each
horse
has
a
history
of
why
it
was
chose
and
its
story,
a
lot
of
the
stories
going
back
to
the
early
1900s.
These
have
been
quite
successful
in
gaining
Wells
Fargo
new
customers.
People
are
still
trying
to
find
them
on
ebay
and
other
sites
where
the
horses
can
be
purchased.
Another
smaller
promotion,
also
mentioned
in
class
was
a
cooler.
For
some
reason,
the
public
went
nuts
about
them
and
this
boosted
Wells
Fargo’s
new
checking
accounts
immensely.
They
didn’t
plan
on
the
cooler
being
such
a
“hot”
item
and
it
wasn’t
long
before
the
coolers
were
out
of
stock.
Although
people
wanted
more,
Wells
Fargo
has
not
repeated
that
promotional
activity.
A
bigger
promotion
that
is
currently
ongoing
is
the
2
for
1
Adult
Rocky
Mountain
Super
Pass
offer.
This
offer
is
available
to
college-­‐age
students
and
faculty/staff
in
the
Wyoming
and
Colorado
area.
Also,
they
must
either
open
or
currently
have
a
Wells
Fargo
checking
account.
Everyone
who
qualifies

4. has
the
chance
to
buy
two
lift
tickets
for
the
price
of
only
one.
With
prices
of
these
tickets
going
up
at
the
slopes
themselves,
this
is
the
perfect
deal
for
snowboarders
and
skiers
to
take
advantage
of.
Not
only
are
they
cheap
tickets,
they
are
cheap
season
passes!
This
is
not
a
new
promotion
by
Wells
Fargo.
The
company
has
done
this
in
the
past
and
seen
its
success,
so
it
continues
to
keep
its
customers
happy
by
providing
it
over
and
over.
It’s
not
a
year-­‐round
promotion,
which
makes
it
that
much
more
exciting
to
look
forward
to.
A
grand
prize
promotion
that
only
six
lucky
winners
will
be
able
to
come
away
with
is
the
back
stage
giveaway.
The
grand
prize
is
$5,000
to
travel
anywhere
in
the
world.
However,
to
qualify
for
this
sweet
giveaway
one
must
be
a
full
time
or
part
time
student
in
an
accredited
post-­‐secondary
school.
All
that
has
to
be
done
is
open
a
brand
new
checking
account
and
that
is
an
automatic
entry
into
the
drawing.
If
the
student
already
has
an
account,
they
can
go
online
to
the
website
and
fill
out
the
entry
form.
There
are
only
two
entries
per
person,
but
it’s
a
big
payoff
to
be
the
winner.
Even
if
one
doesn’t
win
the
grand
prize,
there
are
other
prizes
to
be
won
such
as
a
GPS
unit,
a
camcorder,
a
camera,
different
ipods
or
headphones.
If
winning
one
of
the
six
grand
prizes
doesn’t
happen,
there
are
still
over
600
other
chances
to
win
the
smaller
prizes.
Competition
Wells
Fargo
competes
essentially
all
other
financial
intuitions.
They
are
considered
one
of
the
big
4
banks
in
the
United
States,
along
with
Citi
Bank,
Chase,
and
Bank
of
America.
They
also
compete
with
1st
Bank,
Bank
of
the
West,
Key
Bank,
and
other
small
credit
unions
in
Colorado.
The
larger
banks
compete
with
Wells
Fargo
on
the
ability
to
offer
a
wide
variety
of
financial
services,
whereas
the
small
banks
pride
themselves
on
personal
service.
Right
now
with
the
financial
crisis,
the
general
public
does
not
have
a
very
good
view
of
large
banks
and
what
they
stand
for.
Most
Americans
don’t
like
any
banks
but
the
smaller
ones
seem
to
have
a
better
image.
Wells
Fargo
is
a
large
bank
but
with
their
very
conservative
ways
they
are
not
viewed
as
negatively
as
the
other
large
banks,
especially
because
they
did
not
receive
a
bailout.
Smaller
banks
like
1st
bank
are
the
banks
that
are
growing
and
seeing
an
increase
in
market
share.
They
offer
great
customer
service
and
lower
fees
then
all
of
the
rest
of
the
competing
banks.
As
Mike
said,
1st
Bank
carries
a
lot
of
cash
and
this
helps
them
offer
lower
or
no
fees
for
certain
things
and
this
money
could
be
invested
to
help
them
continue
to
grow
and
gain
more
market
share.
They
only
downside
to
these
small
banks
is
that
they
can’t
offer
some
of
the
service
that
a
business
or
very
wealthy
person
might
need.
1st
Bank
will
send
these
clients
to
Wells
Fargo
if
they
can’t
meet
their
needs
finically.
The
downside
for
large
banks
is
the
lack
of
personal
relationships.
These
large
banks
have
so
many
people
that
there
is
really
no
way
to
have
a
personal
relationship
with
every
single
customer,
there
are
just
simply
too
many.
For
a
while
1st
bank
was
using
very
clever,
new
advertising
and
promotion
and
using
things
like
QR
codes
that
allowed
people
to
access
puzzles
and
books.
They
have
recently
started
to
go
back
to
their
old
ways
of
advertising.
Their
name
is
always
on
many
people’s
minds
when
they
are
looking
to
try
out
a
bank.
With
free
checking
and
a
brand
new
iPod,
there
are
not
too
many
other
banks
that
can

5. compete
with
things
like
that.
Large
banks
like
Bank
of
America
are
offering
things
like
the
ability
to
purchase
tickets
for
different
events
and
movies
before
the
general
public
can
buy
them.
They
also
offer
two
for
one
tickets
as
well.
While
all
of
these
promotions
are
good,
the
main
thing
that
people
want
is
more
cash.
Many
banks
like
Chase
and
Bank
of
America
offer
to
put
$100
dollars
into
your
checking
account
if
you
sign
up
for
a
checking
account.
These
types
of
promotions
are
great
but
can’t
be
done
by
all
banks.
The
Product
Wells
Fargo
offers
5
different
checking
accounts:
Value
Checking,
College
Combo,
Custom
Management
Package,
Complete
Advantage
Package,
and
the
PMA
Package.
The
product
we
will
focus
on
promoting
in
this
campaign
is
the
Wells
Fargo
College
Combo
checking
account
for
incoming
freshmen.
The
College
Combo
account
offers
a
platinum
debit
card,
free
access
to
online
banking,
free
mobile
banking,
free
account
alerts,
optional
overdraft
protection,
and
free
online
bill
pay.
It
requires
a
minimum
balance
of
100
dollars
to
open,
and
with
this
one
can
combine
and
additional
25$
to
open
a
savings
account.6
The
Market
Customer
Segmentation
The
market
we
are
trying
to
reach
is
the
incoming
college
freshman
in
Colorado,
as
describe
by
Wells
Fargo
in
the
campaign
goals.
To
reach
these
college
freshmen
we
will
market
to
their
parents
as
the
primary
target,
then
directly
to
the
students
as
the
secondary
market
because
the
parents
generally
still
have
such
a
strong
influence
on
their
kids,
at
this
stage,
and
the
students
are
who
we
want
to
open
new
accounts.
In
particular,
we
will
market
to
those
with
freshmen
going
to
Colorado
State
University
(CSU),
Colorado
University
(CU),
and
Colorado
Mesa
University
(formerly
known
as
Mesa
State).
The
reason
is
as
follows:
CSU
had
an
estimated
4,500
freshmen
in
2011
which
was
their
third
straight
year
of
record
enrollment1,
CU
admitted
17,933
freshmen
in
20082
and
has
continued
steady
enrollment1,
and
Mesa
has
been
named
Colorado’s
fastest
growing
university
numerous
times
in
recent
years,
growing
about
14.8%
from
20101.
Reasoning
we
have
established
to
stay
away
from
the
University
of
Northern
Colorado
is
because
with
the
partnership
Wells
Fargo
has
already
established
with
the
university,
we
feel
that
our
resources
could
benefit
more
in
markets
without
such
a
strong
connection.
Even
though
Mesa
has
a
somewhat
similar
partnership,
the
growth
of
the
university
influences
a
good
market
opportunity.
1
http://www.denverpost.com/news/ci_18777516
2
http://www.college-­‐admission-­‐profiles.com/colorado.htm
3
http://highered.colorado.gov/Data/Graphs/Inst_Dashboard.swf
6
https://www.wellsfargo.com/checking/college_combo

6. Customer
Psychographics
Needs
Customers
need
a
place
that
they
can
trust
with
their
money.
They
look
for
a
financial
company
that
they
can
trust
to
help
them
make
the
best
financial
decisions
and
won’t
try
to
nickel-­‐and-­‐dime
them
out
of
the
money
that
they
have
worked
so
hard
to
earn.
The
bank
was
established
to
protect
the
funds
for
people,
not
to
take
them
any
chance
they
get.
The
attitude
that
people
attach
to
their
banks
is
not
what
those
in
the
banking
profession
would
consider
good.
They
want
that
sense
of
security,
community,
and
personal/family
touch.
Though
many
banks
try
to
make
the
environment
friendly
and
customer
oriented,
the
view
is
still
not
quite
where
it
needs
to
be.
Wells
Fargo
has
done
well
trying
to
reach
all
of
these
customer
needs.
The
size
of
the
company
and
number
of
locations,
allows
people
to
find
“their”
bank
in
more
places,
but
at
the
same
time,
Wells
Fargo
works
hard
to
maintain
good
customer
service
within
each
location.
This
is
the
definition
of
“Out-­‐local
the
nationals
and
out-­‐national
the
locals.”
Some
previously
used
promotions
that
were
successful
in
Colorado
were:
giveaways,
like
the
chair
cooler
and
stuffed
horses,
and
deals
like
the
2
for
1
Rocky
Mountain
Super
Pass
and
2
for
1
Rockies
Tickets.5
Wells
Fargo
also
suits
a
verity
of
consumers.
They
have
the
capacity
to
house
high-­‐
income
investors,
commercial
businesses
and
small
businesses,
but
they
still
have
the
personal
touch
to
reach
the
average
income
family
and
college
students.
People
buy
into
banking
accounts
when
they
move,
get
frustrated
with
their
old
bank,
or
find
some
other
influence
such
as
a
free
iPad
with
a
new
account.4
Customer
Demographics
The
following
is
demographic
data
for
Colorado
State
University
and
Colorado
Mesa
University.
No
demographic
data
was
found
on
the
CU-­‐Boulder
4
https://www.wellsfargo.com/
5
UNC,
Marketing
Competition
Presentation,
Mike
Burnell,
Ed
Simm,
Randi
Jordan,
September
6,
2011

7.
http://highered.colorado.gov/Data/Graphs/Inst_Dashboard.swf
http://highered.colorado.gov/Data/Graphs/Inst_Dashboard.swf
Target
Market

8. Wells
Fargo
has
asked
us
to
bring
in
an
additional
2,000
new
college
checking
accounts.
These
checking
accounts
are
designed
to
target
college
students
from
the
age
of
17-­‐19
coming
into
college.
We
have
found
through
our
research
that
most
college
students
have
already
set
up
a
checking
account
right
before
entering
college
in
order
to
control
their
finances
in
college.
Because
the
target
that
Wells
Fargo
has
asked
us
to
reach
is
too
late,
we
are
going
to
go
after
a
different
target
market.
We
are
going
to
target
the
student’s
parents.
Student’s
parents
are
a
huge
reference
group
for
them,
especially
when
they
are
still
in
high
school.
Most
college
students
sign
up
for
a
college
checking
account
the
summer
before
entering
college
with
the
help
of
their
parents.
Our
target
market
will
be
high
senior’s
parents.
These
parents
range
from
age
35-­‐50
and
have
a
median
household
income
of
about
$55,000.
These
parents
fall
into
either
the
late
baby
boomer
generation
or
generation
X.
They
have
strong
work
ethic
and
usually
follow
in
their
parents
footsteps
and
work
many
long
hours
to
help
support
themselves
and
most
especially
their
children.
These
parents
spend
a
considerable
amount
of
money
on
their
children
and
all
of
the
activities
they
are
involved
in.
These
parents
are
raising
children
that
are
from
generation
Z
or
the
“internet
generation”.
They
grew
up
using
technology
and
they
can
usually
find
a
way
to
operate
any
new
technology
while
their
parents’
generation
is
a
little
more
reluctant
to
use
and
embrace
technology.
Wells
Fargo
has
confined
the
geographical
boundaries
to
Colorado,
so
we
are
looking
at
parents
of
Colorado
high
school
seniors.
These
parents
of
high
school
seniors
live
all
across
Colorado
meaning
that
some
of
them
live
in
the
mountainous
regions
of
Colorado,
going
North
and
South
along
the
Western
side
of
Colorado.
We
also
have
the
other
large
half
of
Colorado
which
is
primarily
flat
grasslands.
There
are
a
few
other
geographic
type
locations
in
Colorado
but
that
covers
the
main
parts.
These
parents
do
different
activities
in
their
leisure.
Parents
living
in
the
mountains
generally
hike
and
bike
and
do
many
outdoor
things,
also
skiing
and
snowboarding
is
a
large
activity
in
the
winter.
Parents
on
the
other
side
of
Colorado
are
still
very
active
and
enjoy
being
outside
doing
things
like
gardening,
riding
bikes,
and
many
other
outdoor
activities.
While
there
are
still
plenty
of
parents
on
the
east
side
of
Colorado
that
ski
and
snowboard,
there
is
a
larger
number
that
ski
and
snowboard
simply
because
they
are
closer.
They
are
seeking
the
benefits
for
their
child
and
also
for
themselves
in
a
way.
The
parent
of
the
child
wants
their
child
to
have
an
easy
to
manage
checking
account
that
they
can
also
help
monitor
and
manage.
The
account
will
need
to
have
a
few
checks
that
come
with
it
for
instances
where
a
check
is
needed
but
the
majority
of
the
transactions
with
the
checking
account
will
come
from
the
debit
card.
They
will
need
to
have
features
like
overdraft
protection
and
the
ability
to
consistently
have
a
low
balance
in
the
account
without
having
penalties
assessed.
The
checking
account
will
provide
the
student
with
freedom
to
start
controlling
their
finances
and
allow
their
parents
to
closely
monitor
the
situation
so
they
could
step
in
as
well.
This
is
just
a
basic
account
for
the
student
and
the
hope
is
that
this
will
create
a
positive
experience
for
the
student
and
parent
alike
and
create
a
relationship
with
Wells
Fargo
that
will
span
a
long
time
and
when
it
comes
time
for
that
student
to
one
day
send
his
child
to
college
pick
Wells
Fargo
as
the
place
for
his
child’s
first
account.
SWOT
analysis

9. Strengths:
 Offer
many
services
 Large
amount
of
assets
 Many
locations
 Many
ATMs
 Friendly
staff
 Well
established
brand
Weaknesses:
 Large
customer
base
(No
personal
relationships)
 High
fees
 Bad
image
as
a
large
bank
 Don’t
reach
some
big
market
segments
 Not
all
locations
can
do
everything
Opportunities:
 Use
there
well
established
brand
to
capture
younger
market
 Leverage
the
fact
that
they
can
offer
more
services
than
other
banks
 Show
that
they
have
the
best
customer
service
and
friendly
staff
 Leverage
the
fact
that
they
have
so
many
ATMs
and
locations
that
people
do
not
have
to
travel
far,
especially
college
students
 Show
how
they
fared
better
against
other
banks
through
this
economic
crisis
Threats:
 Smaller
banks
can
have
better
personal
relationships
with
customers
 Other
banks
are
focusing
on
free
services
 Can’t
offer
large
giveaways
like
other
banks
can
 Some
locations
can’t
do
everything
maybe
driving
customer
to
a
bank
that
is
closer
 Seen
as
“my
parents
bank”
and
would
switch
to
a
“younger”
looking
bank
 Not
as
many
high
tech
services
like
other
banks
Objectives
Wells
Fargo
would
like
to
see
a
specific
result
with
this
campaign.
They
are
looking
for
2,000
incremental
college
checking
accounts
in
a
year.
This
means
that
they
want
to
see
2,000
more
checking
accounts
then
they
would
have
seen
without
the
campaign.
They
are
not
only
looking
to
gain
these
new
accounts
but
to
keep
the
customer
and
create
a
positive
experience
for
them
at
Wells
Fargo.
They
would
like
to
see
them
not
only
set
up
a
checking
account,
but
other
services
like
online
bill
pay,
credit
card,
and
some
small
loans.
By
getting
the
customer
to
sign
up
for
these
services
they
can
hopefully
help
them
reach
their
financial
goals
and
keep
them
happy,
but
also
it
makes
it
harder
for
them
to
switch

10. banks.
When
a
person
has
multiple
accounts
and
does
a
lot
of
activity
with
the
bank,
then
it
creates
a
situation
where
the
person
doesn’t
want
to
switch
to
another
bank.
This
saves
the
bank
a
lot
of
money
and
could
help
gain
more
customers
by
word
of
mouth

11. Works
Cited
"1st
Bank."
efirstbank.
1st
Bank
Center,
2011.
Web.
14
Oct.
2011.
"Bank
Bonuses,
Banking
Deals,
and
Bank
Promotions."
Maximizing
Money.
Maximizing
Money,
2011.
Web.
14
Oct.
2011.
“Bank
of
America.”
Bank
of
America.
Bank
of
America
Corporation,
2011.
Web.
14
Oct.
2011.
"Capital
One
Bank."
Capital
One.
Capital
One,
2011.
Web.
14
Oct.
2011."Citi."
Citibank.
Citigroup
Inc,
2011.
Web.
14
Oct.
2011.
"Key
Drivers
of
sustainability
in
the
banking
industry."
BSD
Global.
International
Institute
for
Sustainable
Development,
2011.
Web.
14
Oct.
2011.
"Open
a
Chase
Total
Checking
Account
Today!"
Chase.
JP
Morgan
Chase
&
Co.,
2011.
Web.
14
Oct.
2011.
"User
Generated
Wells
Fargo
SWOT
Analysis."
WikiSWOT.
WikiSWOT,
n.d.
Web.
14
Oct.
2011.
"Wells
Fargo."
Wells
Fargo.
Wells
Fargo,
2011.
Web.
14
Oct.
2011.
"ERS/USDA
Data
-­‐
CO
Unemployment
and
Median
Household
Income."
USDA
Economic
Research
Service
-­‐
Home
Page.
Web.
15
Oct.
2011.
<http://www.ers.usda.gov>.
"2
for
1
Rocky
Mountain
Super
Pass
offer."
Wells
Fargo.
Wells
Fargo,
2011.
Web.
18
Oct.
2011.
"WELLS
FARGO
AND
WACHOVIA
SUPER
ESCAPE
SWEEPSTAKES
OFFICAL
RULES."
Wells
Fargo.
Wells
Fargo,
2011.
Web.
18
Oct.
2011.
"Wells
Fargo
Back
Stage."
Wells
Fargo.
Wells
Fargo,
2011.
Web.
18
Oct.
2011.
"Wells
Fargo
Plush
Ponies."
wells
fargo
history.
Wells
Fargo,
2006.
Web.
18
Oct.
2011.