JP MORGAN CHASE & CO.
7 P’s of Marketing
SERVICE MARKETING ASSIGNMENT
SUBMITTED BY:
PENDYALA DINESH
USN: CMS18BB0064
INTRODUCTION OF JP MORGAN CHASE & CO.
• JP Morgan and Chase is a public company of American origin.
• It is associated with banking and finance industry as it deals with financial
services.
• In terms of market capitalization, it has been ranked at the second position in the
world.
• JP Morgan and Chase were founded in the year 2000, 1st December when JP
Morgan & Co merged with Chase Manhattan Corporation.
• It is also known as custodian or universal bank and has the distinction of
becoming one of the Big Four Banks in the USA.
JP MORGAN AND CHASE ARE ONE OF THE TOP FINANCIAL SERVICE FIRMS THAT USE BOTH
B2B AND B2C MODELS IN ITS BUSINESS DEALINGS.
IT IS ONE OF THE WORLD’S LARGEST BANKS AND OFFERS SEVERAL FINANCIAL SERVICES
AND INVESTMENT BANKING OPTIONS.
PRODUCT
• JP Morgan Chase provides investment banking and financial services to
customers, small businesses as well as some of the biggest corporate and
government clients.
• Consumer Services under the Chase brand: Credit Cards, Small Business,
Home Loans and Home Equity Line of Credit, Auto Finance, Education Finance,
Retirement & Investing, Personal Bank Accounts, Merchant Services
• Commercial Services under the Chase brand: Middle Market Banking, Business
Credit, Equipment Finance, Commercial Term Lending, Community Development
Banking, Real Estate Banking, International Banking
PLACE
• It is the largest bank in its home in the United States and has its headquarters
based in New York City.
• The Corporate bank has spread its operations to one hundred countries and offers
corporate solutions.
• Its headquarters is at London with regional headquarters at New York, Hong Kong
and Sao Paulo.
• JP Morgan and Chase have located operational centres at Phoenix, California, Los
Angeles, Tampa, New York and Texas.
• Its technology operations are situated at Manila, Cebu, Bangalore, Mumbai, New
Delhi, Hyderabad, Sao Paulo and Jerusalem.
PRICE
• JP Morgan and Chase have targeted rich individual investors and large
enterprises that are seeking financial advice and help as its target customers.
• The bank has positioned itself as an institution which is there for its investors.
• It offers impeccable services of premium quality and hence has adopted premium
pricing strategy for its premium products.
• It faces competition from several financial institutions and hence has adopted a
competitive pricing policy.
• It has kept its interest rates and brokerage percentage a bit lower than its rival
institutions.
PROMOTIONS
• JP Morgan Chase has a very strong brand name and most clients come to this
bank because of its long standing reputation.
• . Main marketing at JP Morgan Chase is done through client relation. The bank
has very good relations with its clients. The company tries to take care of all
financial needs of the client.
• The bank has “Chase at Work” program in which employees visit clients and give
personalised services improving the relationship.
• The company also have referral programs in which clients are rewarded for
getting referrals. JP Morgan Chase is using social media for its promotion
PEOPLE
• JP Morgan Chase is a highly reputed company and therefore its employees are highly trained and
skilled.
• JP Morgan Chase understands the importance of customer satisfaction and seeks to continuously
improve.
• The company has taken many measures to ensure protection of its customers in terms of cyber security
and fraud detection.
• They have also made their services customer friendly. The organization has more than 25000+
employees worldwide.
• Its customer satisfaction scores are amongst the highest in the country in terms of customer loyalty.
PROCESS
• JP Morgan Chase intends to simplify forms and speed applications thereby
improving customer experience.
• The company uses digital channels to make the various processes easier leading
to customer satisfaction and increased efficiency.
• There is focus on process automation and standardisation across the operating
model and the company is investing in analytical tools to meet requirements.
PHYSICAL EVIDENCE
• The physical evidence for JP Morgan Chase will be its 5,300 branches and
15,500 ATMs
• The banks website which provides access to the various services offered also
serves as physical evidence
• JP Morgan Chase have a strong local presence and try to make the bank
services accessible to customers.
• Other material cues which brings tangibility are the company’s logo which helps
in identification and visualisation of the company, credit cards and policy
documents itself.
CONCLUSION
• It is one of the oldest financial institutions in the US and is headquartered in New
York City With assets of $2.4 trillion JP Morgan Chase is largest bank in the
United States and the sixth largest bank in the world by total assets.
• As of 2016 it is the most valuable bank in the world with market value of $240.3
billion beating Wells Fargo & Co.
• Thank You
• Submitted by: Pendyala Dinesh
• CMS18BB0064
