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Marketing Research of BB&T Corporation

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Netra Shetty
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Marketing Research of BB&T Corporation - March 31st, 2011

BB&T Corporation (Branch Banking & Trust) (NYSE: BBT) is an American bank with assets of $165.3 billion (June 2009), offering full-service commercial and retail banking services along with other financial services like insurance, investments, retail brokerage, mortgage, corporate finance, consumer finance, payment services, international banking, leasing and trust. Based in Winston-Salem, North Carolina, BB&T operates more than 1,850 financial centers in the United States of North Carolina, South Carolina, Virginia, Maryland, West Virginia, Kentucky, Tennessee, Georgia, Florida, Alabama, Indiana, Texas, and in Washington, D.C..
It is also notable for certain ideological stances taken by its management, and for its financial support of academic programs concerning the "moral foundations of capitalism."[3]
In June 2009, its chairman, John A. Allison IV delivered a keynote address to a meeting of the center-right Competitive Enterprise Institute, where he said government regulation caused the 2007-2009 financial collapse.[4] The bank had recently been forced to accept $3.1 billion in bailout money through the U.S. Treasury's Troubled Asset Relief Program.[5]
Earlier, in 2006, BB&T said it wouldn't lend money for commercial projects on property acquired through eminent domain. This was a reaction to the United States Supreme Court's decision in Kelo v. New London in 2005 that such transfers are permissible.

he final component of the project was a senior executive workshop that tied the previous weeks’ work into implications that were examined from a broader strategic level. That workshop, conducted a week after the corporate team workshops had been completed, led to a final report that provided the insights the company needed to translate research findings into actions that could impact the bottom line.

In the process, the researchers also learned some lessons. Their advice for future efforts includes:

• Understand the benefits and disadvantages of technology in research, and recognize that no one technology is appropriate for every organization.

• Before showing recorded qualitative sessions, caution viewers about jumping to hasty conclusions. Encourage viewers to consider attributes such as atmosphere, question order and types of respondents rather than making generalizations about the research before data collection and analysis is complete.

• In international research, seek feedback from local as well as corporate markets throughout the scope of the research project, and adopt a culturally sensitive methodology to increase acceptance and implementation.

• Encourage internal dialogue in the client organization and use workshops to help facilitate it. Work to bridge the gap between local and corporate teams, and build open communication that will ultimately increase the likelihood of success.

• Maintain security and confidentiality when broadcasting anything over the Internet, and stay abreast of the laws regarding data security in each country the research is conducted in.

• Trust the data. Encourage dissent and look for reasons the data isn’t what the client expected, but understand that it is often easier for clients to dismiss solid research findings than to examine and accept what the data indicates.

Rich process
Working with Behavioral Insights researchers, the IT firm discovered how to position its portfolio for maximum effect in multiple markets. At the same time, it discovered the rich process of internal creativity and communication that gives any research undertaking its fullest value.

When one of the world’s largest providers of IT services was ready to expand its market share it knew pricing could make or break the launch. But a conjoint study across eight countries (Canada, Germany, Italy, Singapore, Japan, Australia, the United Kingdom and the United States) would be prohibitive in terms of both cost and time-to-market considerations. The approach used in this instance allowed the study to be completed much more quickly than would be possible with a conjoint study, without compromising the integrity of the data collected. Time was critical, and recruiting and fieldwork were completed in 13 short weeks.

To solve the logistical problems attendant with an international undertaking and still arrive at valid pricing conclusions, the research team used the Van Westendorp method on a carefully selected group of respondents. Properly administered, the Van Westendorp technique evaluates respondents’ price expectations for a given product or service without asking directly what they would pay (an approach that has been shown to be unreliable).

Instead, respondents were asked four questions:

1. At what price would you consider this service to be a bargain (great value for money)?

2. At what price would it start to get expensive (but still worth considering)?

3. At what price would it be so cheap that quality would be doubted?

4. At what price is it so expensive that it would not be considered at all?

This technique was used to provide a broad sense of customers’ expectations relating to pricing across diverse markets.
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Re: Marketing Research of BB&T Corporation
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James Cord
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Re: Marketing Research of BB&T Corporation - March 4th, 2016

Quote:
Originally Posted by netrashetty View Post
BB&T Corporation (Branch Banking & Trust) (NYSE: BBT) is an American bank with assets of $165.3 billion (June 2009), offering full-service commercial and retail banking services along with other financial services like insurance, investments, retail brokerage, mortgage, corporate finance, consumer finance, payment services, international banking, leasing and trust. Based in Winston-Salem, North Carolina, BB&T operates more than 1,850 financial centers in the United States of North Carolina, South Carolina, Virginia, Maryland, West Virginia, Kentucky, Tennessee, Georgia, Florida, Alabama, Indiana, Texas, and in Washington, D.C..
It is also notable for certain ideological stances taken by its management, and for its financial support of academic programs concerning the "moral foundations of capitalism."[3]
In June 2009, its chairman, John A. Allison IV delivered a keynote address to a meeting of the center-right Competitive Enterprise Institute, where he said government regulation caused the 2007-2009 financial collapse.[4] The bank had recently been forced to accept $3.1 billion in bailout money through the U.S. Treasury's Troubled Asset Relief Program.[5]
Earlier, in 2006, BB&T said it wouldn't lend money for commercial projects on property acquired through eminent domain. This was a reaction to the United States Supreme Court's decision in Kelo v. New London in 2005 that such transfers are permissible.

he final component of the project was a senior executive workshop that tied the previous weeks’ work into implications that were examined from a broader strategic level. That workshop, conducted a week after the corporate team workshops had been completed, led to a final report that provided the insights the company needed to translate research findings into actions that could impact the bottom line.

In the process, the researchers also learned some lessons. Their advice for future efforts includes:

• Understand the benefits and disadvantages of technology in research, and recognize that no one technology is appropriate for every organization.

• Before showing recorded qualitative sessions, caution viewers about jumping to hasty conclusions. Encourage viewers to consider attributes such as atmosphere, question order and types of respondents rather than making generalizations about the research before data collection and analysis is complete.

• In international research, seek feedback from local as well as corporate markets throughout the scope of the research project, and adopt a culturally sensitive methodology to increase acceptance and implementation.

• Encourage internal dialogue in the client organization and use workshops to help facilitate it. Work to bridge the gap between local and corporate teams, and build open communication that will ultimately increase the likelihood of success.

• Maintain security and confidentiality when broadcasting anything over the Internet, and stay abreast of the laws regarding data security in each country the research is conducted in.

• Trust the data. Encourage dissent and look for reasons the data isn’t what the client expected, but understand that it is often easier for clients to dismiss solid research findings than to examine and accept what the data indicates.

Rich process
Working with Behavioral Insights researchers, the IT firm discovered how to position its portfolio for maximum effect in multiple markets. At the same time, it discovered the rich process of internal creativity and communication that gives any research undertaking its fullest value.

When one of the world’s largest providers of IT services was ready to expand its market share it knew pricing could make or break the launch. But a conjoint study across eight countries (Canada, Germany, Italy, Singapore, Japan, Australia, the United Kingdom and the United States) would be prohibitive in terms of both cost and time-to-market considerations. The approach used in this instance allowed the study to be completed much more quickly than would be possible with a conjoint study, without compromising the integrity of the data collected. Time was critical, and recruiting and fieldwork were completed in 13 short weeks.

To solve the logistical problems attendant with an international undertaking and still arrive at valid pricing conclusions, the research team used the Van Westendorp method on a carefully selected group of respondents. Properly administered, the Van Westendorp technique evaluates respondents’ price expectations for a given product or service without asking directly what they would pay (an approach that has been shown to be unreliable).

Instead, respondents were asked four questions:

1. At what price would you consider this service to be a bargain (great value for money)?

2. At what price would it start to get expensive (but still worth considering)?

3. At what price would it be so cheap that quality would be doubted?

4. At what price is it so expensive that it would not be considered at all?

This technique was used to provide a broad sense of customers’ expectations relating to pricing across diverse markets.
hi buddy,

It was really appreciable and i am sure it would help many people. Well, i found some important information Dodd-Frank Act Company-run Stress Test Disclosure on BB&T Corporation and wanna share it with you and other's. So please download and check it.
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