Implications Of Intangibility: TD Canada Trust Branch

Implications of Intangibility
Introduction: Service intangibility is a key element to consider in a business. It is one of the major concerns and challenges for the marketers to introduce and convince customers to buy their intangible products. Marketers should introduce their intangible services to customers in such a way that it will lure them to avail those services even at cost out of their comfort spending zone.
Implications of Intangibility at our ‘TD Canada Trust’ Branch
We introduce our products and services to customers in a clear way which they can easily understand. To promote our existing services, we give real life references and examples to the customers and clear all their doubts regarding risk of availing services.

o Personal investing includes TD High Interest Savings Account, TD Direct Investing Tax- Free Savings Account etc.

o Insurance for small businesses References
The Toronto-Dominion Bank (CA). (n.d.). Retrieved from www.tdcanadatrust.com: https://www.tdcanadatrust.com/products-services/banking/apply-index.jsp

 Price: TD bank fixed rate of interest and fees for its services in such a way that it would not bother the customers and cover its cost of running business as well. We Charge Interest on Borrowings, Account opening Fee, Monthly Fee, Transaction Fee (only for transactions done over limit), Service Charges, Overdraft Protection Fee, Non-sufficient Fund fee, Safety Deposit Boxes fee and some other types of charges to cover our costs.

 Promotion: Our TD branch is already a well-known bank branch in our as well other nearby areas. Still for the migrants and new entrepreneurs we conduct seminars, visit to colleges and universities, display ads in newspapers and magazines. We also donate and sponsor activities for the welfare of society and take initiative to protect

are simplified for the customers convenience. Transactions can be processed in seconds. We offer internet and mobile banking where customers can transfer funds, change contact information, make payments and avail various other services anytime and from anywhere. Customers can also open accounts online and apply for loans, credit cards etc. We resolve any type of complaints within 12 hours.

 Productivity: Our branch is doing exceptionally well in generating revenues as well as achieving targets along with serving customers. During last 3 years we earned business of $5 million. Currently our branch has total business of $8 million and is continuously growing. In previous year our branch earned net profit of $80,000 and showing an increasing trend of 12% in net profits every year.

 Physical Environment: The environment of our branch is clean and hygienic. It has superior architecture with proper ventilation and wiring system. Everything is placed at adequate place after considering its use and accessibility. The branch has two ATMs installed, one inside the branch and other one is outside having drive-thru