which of the following in selecting a target market for a banks checking accouts the anks marketers should consider the banks strengths who would get the most value from those strengths and ______
the roles in the banks buying center
the lifestyles of the banks employees
whether to enter new markets or develop products
the costs of reaching different segents
the attitudes and behaviors of potential customers.
When selecting a target market for a bank's checking accounts, the bank's marketers should consider the bank's strengths, who would get the most value from those strengths, and the costs of reaching different segments. Additionally, they should also consider the roles in the bank's buying center and whether to enter new markets or develop new products. However, the lifestyles of the bank's employees may not directly impact the selection of a target market for checking accounts.
In selecting a target market for a bank's checking accounts, the bank's marketers should consider the bank's strengths, who would get the most value from those strengths, and the costs of reaching different segments.
To determine the target market for a bank's checking accounts, marketers need to assess the bank's strengths. This involves evaluating what the bank can offer that sets it apart from competitors, such as superior customer service, innovative technology, or a wide network of ATMs and branches.
Next, marketers should identify who would get the most value from those strengths. This requires analyzing customer needs, preferences, and behaviors. For example, if the bank excels in providing personalized financial advice, the target market might be individuals who seek guidance in managing their finances. If the bank focuses on offering convenient mobile banking services, the target market might be tech-savvy individuals who prioritize convenience and speed.
Additionally, marketers need to consider the costs associated with reaching different market segments. This involves evaluating the marketing budget and understanding the expenses involved in targeting specific groups. For instance, if the bank aims to target high-net-worth individuals, it might require investing in more personalized and exclusive marketing campaigns compared to targeting a broader audience.
The other options listed in the question, such as the roles in the bank's buying center, the lifestyles of the bank's employees, and whether to enter new markets or develop products, are not directly related to selecting a target market for checking accounts. However, these factors may come into play when considering broader marketing strategies for the bank as a whole.