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Product Officer Functional Lecture
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Executive Banking School Objectives
Retail Strategy Customer acquisition Branding & marketing Product & pricing Delivery optimization Bank Management Strategy Economic value & risk Capital considerations Analyst influences 360° executive management Financial Strategy Financial analysis Key performance drivers Earnings power Risk considerations
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MarketSim Objectives
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Functional Lecture Objectives
To focus on areas of responsibility To review decision responsibilities To review the tool kit of worksheets To discuss common issues To answer common questions
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The Role The Product Officer
Analyzes the prior year's product activity Makes product and product feature change decisions Sets pricing strategy for the coming year Projects future product results for the retail balanced scorecard Helps Marketing Officer sets the marketing budget for products Performs other assignments applicable to the product development/product pricing function From the manual
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MarketSim Process Analyze Plan Forecast Execute Review MarketSim
Retail Bank MarketSim Process Flow
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MarketSim Process
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Analysis
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Analysis
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Product Financial Report
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Product Financial Report
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Customer Report by Segment: By Product
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Customer Report by Segment: By Product
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Planning & Forecasting
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Products, Features and Pricing Appeal Worksheet
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Product Worksheet
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Product Worksheet
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Product Worksheet
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Product Worksheet
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Product Worksheet
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Execute
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Checking Decisions
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Checking Decisions
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Credit Card Decisions
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Review Results Don’t forget to “close the loop” and revisit your worksheets to see how well you did forecasting results
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Best Practices How many Checking Accounts should we offer
Funds Transfer Pricing Margin, margin, margin Remember that it is more to any given product than just its price!
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Number of Checking Accounts
2, “3” maybe 4
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Funds Transfer Price & Margin
The MARGIN represents the amount that the bank will make on balances originated that year Bigger is better for the BANK, smaller for the CUSTOMER for both deposits and loans
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More to Products than just Price
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Today’s Assignment Complete a new Bank Condition Consensus Worksheet
Review Customer Projection Worksheet Results – try to explain the outcome using the Competitive Report Using completed Product Appeal Worksheet to select products to offer Your Marketing Spend for your products was set yesterday Complete Product Worksheets reflecting your assumptions about changes to your products Complete the Customer Projection Worksheet Make Product Design and Pricing Decisions For this evening, complete the Delivery Appeal Worksheet A lot to do in a short period of time Each team member should become familiar with the Product Worksheet
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Review Course Objectives
To focus on areas of responsibility To review decision responsibilities To review the tool kit of worksheets To discuss common issues To answer common questions
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