United Commercial Bank and El Banco
Question 1: Compare and contrast the strategic service vision of United Commercial Bank and El Banco. The strategic service vision entails four pillars, which consist of target market segment, service concept, operating strategy, and service delivery system. In essence, the pillars are utilized to improve or modify current services. The first pillar, target market segment is essentially the discovery stage. The point of this stage is to determine whom the company is serving and to whose needs their product needs to be tailored. Some contributing factors in determining the target include demographics, psychographics, and other important characteristics. In the case of United Commercial Bank, their main target market is clear, the
…show more content…
By providing the clients with safe but valuable assets, UCB is able to match up to their competitors and fulfill their business model. El Banco also utilizes culture to achieve their business goals. By decorating their establishment with bright colors, Spanish music, comfortable seating, a play for children, snacks, Spanish-language newspapers, phones, and e-mail stations, the banking is showing how dedicated they are to their constituents and is effectively giving them what they desire.
Question 2: Identify the service winners, qualifiers and service losers for United Commercial Bank and El Banco.
In order for a bank to be successful they have to follow a certain criteria in order to be able to draw in customers. These criteria are known as service qualifiers and there are found in both examples. Some of the service qualifiers for United Commercial bank are, its high asset amount, and safety. United Commercial bank has an asset account of 6.32 billion dollars, this is a necessity that this bank has succeeded on because, it gives the bank a foundation to make more transactions, and the ability to back up current customers, and pave the way for new ones. Another service qualifier that United Commercial Bank has is its safety of its savings and CD accounts. By issuing high interest rates it makes the accounts more secure, and a more secure