Evan’s Portion(SWOT and Strategy)

MKTG384

Strengths

Focusing on Virginia bankers and alumni

Specific location in Virginia Beach allow for face-to-face banking interactions

No minimum checking balance, no ATM fees

Online banking

Alumni banking benefits: giving back to JMU, better financing

Weaknesses

Narrow target market

Limited to Virginians and JMU alumni

Almost 30% of student/alumni population are from outside of Virginia

Opportunities

63,000 JMU alumni in Virginia, mostly in Northern and Shenandoah Valley areas

Also where most StellarOne locations are

Being small and local, they can offer free checking and nice rewards, which big banks can no longer do

Only 7% of alumni give back while 97% say they would recommend JMU

This presents a large room for expansion and growth

Threats

Competing banks, such as national chains that can give customers easy access in many states

Commonwealth One is a big threat because they offer banking on campus that attracts current students and may hold their business as alumni

Media Strategies

Best ways to reach JMU alumni Internet

Radio

Newspapers

Busses

Media Strategies (Cont’d.)

Wave and concentration placement strategies

Wave would allow combination of all different media

Concentration would allow StellarOne to take each medium and make it the best it can be