Durham Digital Marketing MKTG 4207

We are especially interested in targeting millennials, to let them know what a credit union is, how we differ from banks, and how we can provide them with the financial products and services they are interested in. What is the best strategy for reaching them? What are the best digital tactics? Knowledge of and interest in personal finance would be helpful. Knowledge of numerous digital platforms would be very helpful (ex. Google Adwords, all types of social media, etc.). We offer students an opportunity to have an immediate impact on our marketing efforts and they may see their findings in action! Students will present their findings to our senior management team and will network with leaders of our financial institution. We will provide a catered lunch, and a tour of our beautiful new corporate headquarters, located in Kitchener (just off the 401). The students will submit a Digital Marketing Report specifically addressing your unique challege. They will also do a formal presentation of their findings and results.

Master's-Level Consulting

We'd like you to do a comprehensive comparative analysis of accounts, products and services* provided by banks and credit unions in Ontario. Focus on 3 - 4 banks and 3 - 5 credit unions (total of 6-9); we also encourage you to review financial institutions elsewhere (eg. UMPQUA is an industry leader; Simple Bank, etc.) Conduct primary research (survey and/or focus group) to assess which accounts/products/services are most attractive to Millennials. What products or services are not attractive or necessary? Which banks/credit unions are doing it right? Identify new strategies and opportunities. *By products and services we mean transactional accounts (chequing and saving), borrowing/lending and saving/investing, as well as features like: remote deposit (take a picture of your cheque to deposit), email money transfer, online bill payments, account bundles (do younger banking consumers want to transact a la carte, or would a combination of accounts designed to achieve a specific goal be of interest?), budget management tools (you are ‘safe to spend’ $X today because your rent is going to be withdrawn in 4 days; you spend X% of your total income on restaurants and entertainment) live chat on a website for assistance, or appointments via Facetime or other communication channels the ability open accounts via online/mobile without visiting a branch (identity verification, document signing, etc.) account alerts to your smartphone (someone just paid a bill from your chequing account; someone just changed your online banking password; your balance has gone below a pre-set threshold, etc.) credit cards with loyalty rewards (what matters? Movies or cash back from your purchases?) Phase 1 – Project Plan: Student-consultant groups will meet with organization representative(s) to devise the project scope and prepare a detailed plan for completion of the project. Phase 2 – Project Execution: Student-consultants will work on deliverables outlined in the project plan. Teams will periodically communicate with your organization representative(s) as needed to complete project tasks. Phase 3 - Outcome - Presentation: Student-consultant groups will conduct a 50-slide presentation for your representative(s) that outlines the following: A statement of the problem and a recognition of its business importance. An understanding of its key drivers based on research. A clear action plan with timelines and resource implications.