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Words: | Submitted: Fri Jan 28 2005
... large potential consumer base for online banking. DEMOGRAPHICS FORCES The large number of customer of Royal Bank was aged 50 years and above. Therefore, keeping in view the fact that the use computers and networking to be more famous and common among younger, Royal Bank decided to start online / direct bank. Royal Bank has undertook good strategies by targeting the individual consumer of 18-50 age group who is a high school graduate or highly educated who is self employed , freelancer or self employed. This age group has special benefits because has the greatest mobility and has the potential of consumer loyalty. Second is the group of private investors who generate a good amount of revenue yearly but the potential customers are few. The bank has also adopted new ways of reaching potential customers and the marketing strategy adopted accordingly such as offering special rates to companies whose employees ...
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