Geographic - due to J.P Morgan's reach and influence geography does not amount to as much to their target market.

Psychographic - J.P Morgan's target market would be individuals that have advanced knowledge in investments and are looking to expand their wealth.

Behavioral - the ideal target markets would be individuals that seek to expand their wealth using investment instruments provided by J.P Morgan

Demographics - there are a lot of considerations in Demographics, however the most important for banks are the spending power of each potential customer and their willingness to invest in an investment bank like J.P Morgan & Chase

Spending power/ Wealth Class is the main consideration in offering products in bank.

Financial Literacy/ Education advancement also plays a major role for picking the target market that is suitable for J.P Morgan's products

Occupation - although there is no direct relation for this demographic; it is still worth to investigate due to the possibility of loans & contracts.

The company has the best mobile banking and finance technology and are known as the most trusted investment banks. Furthermore, they bade adopted a competitive pricing policy. It also keeps its interest rates and brokerage fees lower than its rival making it stand out of the competition. JP Morgan has positioned itself as an institution which is there for its investors.

The behavior differs from one customer to another; out of the 4-consumer behavior, only one does not apply:

Routine Response/Programmed Behavior - Individuals that consistently deposit savings and less then often invest from time to time

Limited Decision Making - individuals that casually deposit money for the sake of saving

Extensive Decision Making/Complex - financial savvy individuals that seek to expand their wealth.

J.P. Morgan Chase offers a wide range of services related to financial and banking to the customers. The company offers financial advisory services to corporates regarding the right governance structure that should be adopted. It also helps corporates in raising capital in the equity and debt markets. JP Morgan Chase also organizes for businesses to get lenders that will finance their loans. It also offers prime brokerage and risk management solutions. In some instances, it also provides securities to loans and risk management plans where necessary.

fund accounting

administration

custody

home loans

credit cards

home and business loans credits

Deposit and investment products

financing of mortgages

advisory to corporates

negotiation of loans

Merchant services

JP Morgan has several channels that are used to serve various customers and the enterprise. The Automatic Teller machines (ATMs) are used to serve individual customers that visit the business at various branches. JM has over 5,300 branches and 15,500 ATMs. The business also uses online, mobile and telephone banking for the customers that cannot visit any physical offices to get the services. The online made allows the customers to open an account that will be used to access savings, balances, loans, and credit card information.

J.P. Morgan Chase has additional services such as resting rooms at large branches for the customers. Moreover, there are private discussion rooms where corporates can hold their meetings in private. JM has excellent dcor and furniture that makes it interesting for the customers when they visit the premises. The interior design of the major banking branches is breath taking and is attractive to the customers when are within the premises. The employees are also officially dressed every day and that brings some level of service scape and shows that the business is geared towards excellent customer service.

Tellers: Attending to the individual customers and corporates that want to carry out deposits, withdrawals, or balance inquiry. They also receive cheque orders and currency exchange. They must be excellent math skills because they handle direct cash.

Customer Service Representatives:

Aid customers when they are opening new bank accounts, modifying existing ones and completion of the relevant paperwork's. They also answer all the questions about bank products and services. They are also charged with responding to phone calls and connecting the customers to the proper department.

Bookkeeps and Clerks:

Maintenance of financial records using computer software. They are also charged with accuracy checks, reconciliation of entries and balances and creation of reports from a given set of data.

Loan Officers:

Meeting with the applicants and helping them complete their loans applications.

Financial managers:

They oversee all financial reports and preparation of statements for the upper management and the owners. They also supervise the other employees to make sure that every process is running out smoothly.

a. Maintain the price leadership among the other players.

b. Increase market share by keeping the price at the lowest possible.

c. Discourage new entrants into the industry.

d. Enhance image of the firm and its product among the other products and services in the market.

e. Survive in the market without incurring losses beyond what would affect the existence of the entity.

Competitive pricing is setting the price at the same or lower level of your competitors such that there is competition among the players.

They charge a brokerage percentage on the different services provided.

a. Economy Pricing is one pricing tactic used by the entity where they only earn a small profit margin on the services and the products served by them to the consumers.

b. Product or service line pricing where the entity charges similar price for the similar kind of services at a fixed percentage of the amount involved.

c. Price penetration as the entity charges all its products and services at the lowest price possible.

WITH THE RESEARCH PROVIDED ABOVE, how would the company use these types of research findings to develop a marketing plan to meet the company's marketing objectives and business needs.?