Case Study 3.1 El Blanco & United Commercial Bank
El Blanco and
United Commercial back are alike and different in many ways. Their target
markets are both geared toward foreign markets but, El Blanco focuses their target
market toward the Latino ethnicity as where United is focused toward Chinese
American. Also, each bank offers different services that fit into the
lifestyles of their target markets. United offers more loans to businesses,
high interest CDs, and low fees for their customers. Where El Blanco capitalizes
on first time bank customers and fee based services.
The winners of El Blanco are Check Cashing and
Money Transfers and United winners are low fees and import-export services.
They are winners because this is what helps the bank gain business through the
services that they provide. The Qualifiers of El Blanco are that there are a
Spanish speaking institute and that they are in an informal location. United
Commercial Banks qualifiers are that they speak Chinese so that it is easier to
communicate with their customers and they are ensure that their customers money
is safe. Losers of El Blanco are that they lack sophisticated services that
could potentially hurt them when they are offering services to their customers.
The losers of United Commercial are the lowering of interest rate on CD’s.
The features that
differentiate the ethnic communities are that they each offer services that are
unique to what their specific customer’s needs. Such as, there trade financing
and check cashing. Also, the banks practice cultural focuses such as the
language they use and their physical location. For example, each bank speaks the
language that the customers in their community uses. Lastly, they have
conveniently placed locations that are available to the community so that their
customers can use their ATM’s or banking locations in convenient locations.