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This is also an approach that our organization can utilize. When setting up the focus strategy we will want to keep price in mind when targeting our audiences. Although we will not be as big as the BB&T's and John Hancock's we can keep up with them by not trying to make as much money of each transaction, and process that we do within our organization. These companies also prefer to limit their transaction sizes so one of the things our organization can do as a focus is to target middle of the road clients versus those with large amounts of discretionary spending. Rather then targeting the upper class we can target the lower and middle classes. The focus can start by education of those who do not typically know what financial service companies can do. Many in the lower and middle classes do not have a firm grasp on how much is actually needed at retirement. A good deal of individuals when they leave a company cash their 401K's in and accept a lump sum payment of their retirement plans. Providing seminars to educate our consumers on our product offerings, and showing them how to save even just a few dollars a month can add up in the future when retirement hits. Competitive advantage strategy will be hard to utilize initially but as our size grows, so will that advantage. If our organization is to gain a competitive advantage it will be by offering more value for lower cost. As an organization we could act similarly to that of a credit union where the owners are the investors. The investors would place their funds in certain sub accounts to their overall account. Those funds would then be invested in stock or bond allocations much like a 401K. The difference with our organization could be that you could go to the neighb... ... middle of paper ... ...eans is they are a not-for-profit organization classified by the IRS and United States Government for the purpose to allow non taxable transaction to take place, due to the organization not creating profit for an individual. The Council of the Better Business Bureau (2014) currently has over 112 locations around the United States and Canada. These locations are operated independently of the council. Although membership fees are a part of the Better Business Bureau they are not mandatory. According to Joseph Rhee (2010) this has been one of the only blemishes of the Council of the Better Business Bureau's reputation over their 100+ year history. According to the Council of the Better Business Bureau (2014) there are also over 200 trusted partners that aid in creating trust, and confidence between consumer and corporations. These trusted partners according to
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