Bank of America

Paper Summary:

This paper outlines the background of the Bank of America and its goal of opening a branch in in Moscow, Russia. The paper analyzes the target market, the bank's objectives in its international expansion, and its marketing strategies. According to the paper, there is stiff competition in Moscow that must be taken into consideration. However, with the help of an incredible marketing strategy, the desire for Russia to globalize and transact with other countries, and with products and services aimed at suiting possibly unmet needs, there is a possibility for success.

Outline:
Company Background
Target Market
Objectives
Goals
Marketing Strategy
Conclusion

From the Paper:

"Bank of America began as the Massachusetts Bank, opening its doors on July 5, 1784 in the United States (Bank of America, 2006). As one of the largest financial institutions in the United States, working toward becoming the largest in the world, Bank of America serves small- and middle-market organizations as well as larger corporations with their range of services and products from banking and investing to financial- and risk-management. Presently, the bank serves more than fifty-seven million customers at more than five-thousand and seven-hundred locations and seventeen-thousand automatic teller machines (ATMs). These physical locations are in addition to online banking where more than twenty-two million users are active (Bank of America, 2007b)."

Sample of Sources Used:

• Bank of America. (2006). The heritage of Bank of America. Retrieved October 3, 2007, from Bank of America Corporation Web site: http://newsroom.bankofamerica.com/index.php?s=community#
• Bank of America. (2007a). 2006 annual report. Retrieved October 4, 2007, from Bank of America Corporation Web site: http://newsroom.bankofamerica.com/file.php/mr_bankofamerica/spinsite_docfiles/364/Annual+Report_032007.pdf
• Bank of America. (2007b, August 16). Company overview. Retrieved October 3, 2007, from Bank of America Corporation Web site: http://newsroom.bankofamerica.com/index.php?s=fact_sheet
• Borodin, A. (n.d.). Overview. Retrieved October 4, 2007, from Bank of Moscow Web site: http://www.en.mmbank.ru/p1/
• Brandweek. (2007, February 23). Bank of America sees marketing opportunity. Brandweek, 1003549661, Retrieved October 4, 2007, from http://www.brandweek.com/bw/news/financial/article_display.jsp?vnu_content_id=1003549661

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