First State Security Bank is planning to set up its own web page to advertise it
ID: 2695818 • Letter: F
Question
First State Security Bank is planning to set up its own web page to advertise its location and services on the Internet and to offer customers selected service options, such as paying recurring household bills, verification of account balances, and dispensing deposit account and loan application forms. What factors should First State take into account as it plans its own web page and Internet service menu? How can the bank effectively differentiate itself from other banks currently present on the Internet? How might the bank be able to involve its own customers in designing its web site and pricing its Internet service package?Explanation / Answer
Company that provides Internet connections and services to individuals and organizations. For a monthly fee, ISPs provide computer users with a connection to their site ( data transmission), as well as a log-in name and password. They may also provide software packages (such as browsers), e-mail accounts, and a personal Web site or home page. ISPs can host Web sites for businesses and can also build the Web sites themselves. ISPs are all connected to each other through network access points, public network facilities on the Internet backbone.
1. Recruit a planning group that represents all stakeholders and mirrors the diversity of the community. Try to be as inclusive as you can, so that the group is diverse and truly representative of the community. You may have to work particularly hard to persuade people from groups that are generally not offered seats at the table -- low-income people, immigrants, etc. -- that you actually want their participation, especially if they've been burned by insincere offers in the past. It's worth it to take the time and effort, however, in order to get a real picture of all aspects of the community.
A truly representative planning group is not only more likely to come up with a plan that produces an accurate assessment, but is also a signal to community members that they are part of the process. They are more apt to trust that process and support whatever comes out of it.
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