Wells Fargo Marketing Mix

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Marketing Mix of Wells Fargo analyses the brand/company which covers 4Ps (Product, Price, Place, Promotion) and explains the business & marketing strategies of Wells Fargo.

Let us start the Wells Fargo Marketing Mix:

Product:

Wells Fargo provides a wide range of financial services and products for personal, small scale and large business. Wells Fargo provide banking, Insurance, loan and credit, Investing and Retirement, Wealth Management, Rewards and Benefit, Merchant Services, Payroll, and Industry expertise to government, auto industry etc in their marketing mix product strategy. Community Banking deals with financial products and services for individuals and small scale business include auto and student loans, debit and credit cards, saving accounts and small loans. Wholesale Banking provides solution to business by offering business banking, corporate banking, treasury management, insurance, and real estate services is also provided by Wells Fargo.



Image: Wikimedia


Price:

Wells Fargo focuses on their customer by using customer value based pricing in their marketing mix. The company offers services which are convenient, highly secure and flexible. In addition to this company’s services are FDIC approved which benefit customer to succeed financially. Wells Fargo also offers some very competitive pricing for different products and services. Pricing strategy is the same in the United States as it is globally.


Place:

Wells Fargo is a US based financial holding company which serves more than 70 million customers globally. Wells Fargo serves worldwide clients by offering products and services like retail services, treasury services, foreign exchange, commercial loans, wealth and retirement management and advisory services. The online access has made Wells Fargo to deliver smooth services to its customer around the world.


Promotion:

Wells Fargo uses social media platforms like Facebook, Twitter, Websites. Other than these, the company uses Television ads, Billboards and print media to reach the potential customer. Recently, company has using integrated marketing campaigns featuring stories which resonates with customer by connecting at an emotional level. Wells Fargo invited social media fans by using hashtags #WhyIWork to share their motivational drive. Wells Fargo is building a customer experience through technology to make customer life easy with smooth processes.


Since this is a service marketing brand, here are the other three Ps to make it the 7Ps marketing mix of Wells Fargo.


Process:

The main product of Wells Fargo is not a physical product but services it offers, so it’s a direct customer connection approach. All the services are offered through retail branches or online platforms i.e. official website and mobile application.


People:

Timothy J. Sloan is the CEO and president of the company. Wells Fargo functions and deliver its product and services with a vision to satisfy customers financial needs and help them succeed financially. 2,00,000+ employees work for the company. It has over 70 million customers globally, who are extremely critical for the business.


Physical Evidence:

Wells Fargo has a global presence across 35 countries. It has a wide network of 8700 retail branches and 13000 ATMs. Wells Fargo’s registered office is located at San Francisco, United States. The company’s website has all details about the service offerings given by the bank. The offices, ATM machines, cheque deposit boxes etc are all a part of the physical evidence of Wells Fargo. This concludes the marketing mix of Wells Fargo.


About Wells Fargo:

Wells Fargo is one of a handful of U.S. companies dating to the mid-1800s that is still in the same business and operates under the same name. In fact, our headquarters building at 420 Montgomery St. in San Francisco stands on the same spot where Wells Fargo first opened for business in 1852. You can learn more about our past by visiting one of Wells Fargo’s 11 history museums across the U.S. Wells Fargo & company is a US based firm and is headquartered in 420 Montgomery St. in San Francisco. The company deals with consumer and commercial banking, insurance, investment, mortgages services. Henry Wells and William Fargo started the company in 1852. Wells Fargo works with a vision to satisfy its all the financial needs of its customers and help them to succeed financially. Wells Fargo provide retail, commercial and corporate banking services to individual and business. The company offers its personal and commercial financial service through online website and the mobile application. Also, Wells Fargo have a strong presence through more than 8700 retail branches and nearly 13000 ATMs in United States. The bank has 35 offices in countries other than in United States.

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Browse 4Ps Analysis of more brands and companies similar to Wells Fargo Marketing Mix. The Marketing Mix section covers 4Ps and 7Ps of more than 300 brands in 2 categories.


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The names and other brand information used in the Marketing Mix section are properties of their respective companies. The companies are not associated with MBASkool in any way. The brand names are used purely for educational/academic purpose only.

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