January 2001
Beginner
213 pages
4h 8m
English
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19Positioning a Long Island bank
Like Western Union, banks sell a service and not a product. Unlike a Mailgram, however, which is a national service, banking is still a regional service.
In fact, positioning a bank is much like positioning a department store, an appliance store, or any other kind of retail establishment. To successfully position a retail outlet, you must know the territory.
The Long Island banking situation
To understand how we developed a position for the Long Island Trust Company, you should know a little bit about the territory.
For many years Long Island Trust was the leading bank on the Island. It was the largest bank, it had the most branches, and it made the most money.
In the seventies, however, the bank battlefield on ...
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