Retaining the emerging affluent. (bank marketing): An article from: Bank Marketing

This digital document is an article from Bank Marketing, published by Bank Marketing Assn. on October 1, 1994. The length of the article is 3685 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

From the supplier: The emerging affluent present significant opportunities for banks. Fortunately, this market segment is already within their existing customer base. To block the exodus of the emerging affluent to nonbank competitors, banks should develop products that satisfy the specific financial needs of these individuals as they transform over time. To help them do this, banks should adopt a life cycle approach to marketing. This approach involves identifying potential emerging-affluent clients early in their wealth-accumulating years, keeping them as they grow and retaining them after they retire. To successfully manage such a life cycle relationship, banks should ensure that client and market information are exchangeable, locate prospective affluent clients from the retail client base and integrate their private banking and personal trust. They should also develop an understanding of the demographics and psychographics of this group.

Citation Details
Title: Retaining the emerging affluent. (bank marketing)
Author: Nancy G. Orland
Publication:Bank Marketing (Magazine/Journal)
Date: October 1, 1994
Publisher: Bank Marketing Assn.
Volume: v26 Issue: n10 Page: p9(5)

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