Well Fargo Essay

In spite of the rapid growth of the Hispanic population in the United States, banks have not achieved to fully exploit the advantages of this market. This is because this cultural group is constantly changing, becoming a complex group to approach easily and fullness. However, over the years, it has been evident how three of the major financial institutions have tried to approach US Hispanic customer, and it is clear that they need to effort besides ads and language translation. These banks are the main competition of Citibank, they are Wells Fargo, Bank of America, and Chase. Well Fargo is the financial institution which has accomplished more with its marketing strategy; even though, it does not mean is has been completed success to target all the U.S Hispanics. Well Fargo's strategy consisted in research about the U.S Hispanic culture and provide

Furthermore, Chase utilized the results of its research about credit concerns of the Hispanic Population and as the chief marketing officer for Chase Card Services, Carter Franke pointed out "they listened very closely to what their customers wanted as they created both their marketing and servicing strategies"(as cited in www. investor.shareholder.com, 2006). Based on that, Chase created a program for the Hispanics with the tagline "Confia en Ti. Confia en Chase." "Have Confidence/Believe in yourself, Have Confidence/Believe in Chase". Even though, this approach presented a huge advance for the targeting of the Hispanic costumers, Chase is in the same position than Bank of America and Wells Fargo, they use bilingual marketing materials, and utilize media as TV and Radio, but the online service is still not totally developed for US Hispanics for who Spanish is their prefer