Applications in Marketing
Project Type: Unit 5 Individual Project
November 6, 2011
Wells Fargo is diversified financial service company providing investment banking,
mortgage, consumer and commercial finance through more than 9,000 stores and 12,000 ATM’s across North America and internationally (Wells Fargo, 2011).Wells Fargo is the fourth largest bank in the U.S. by assets and the third largest bank Internationally (Marketing Mix, 2011). Wells Fargo rank 63 out of 500 in the Fortune 500 companies. In 2009 Wells Fargo 6,650 retail branches,12,260 automated teller machines, 276,000 employees, and over 48 million customers. Wells Fargo operates under both Well Fargo and Wachovia names, and as of 2010 Wachovia became known as Wells Fargo Bank (Marketing Mix, 2011). The CEO is John G. Stumpf and the corporate office is based out of San Francisco, California. . At Wells Fargo, the goal is focus on building g long-term relationships with customers.
Wells Fargo also gathers valuable information about the company through customer feedback
program, which includes: (Wells Fargo, 2011)
* Customer advisory councils
* Global payments conferences
* Customer site visits
There are several international countries in which Wells Fargo operates, and four of the countries are Ireland, Hong Kong, United Kingdom, and Germany. These countries all focus on services to meet the needs of Wells Fargo customers. Wells Fargo uses the implementation of the 4P’s Marketing Mix.The implementation of the 4P’s Marketing Mix concept of Wells Fargo will be explained in detail. The implementation of the 4P’s is used as a tool to assist in implementing the marketing strategy(Marketing Mix,2011). The 4p’s are product, price, place and promotion. The product is defining the characteristics of the product, price is what customers are willing to pay for the product. The place is being...