If my bank stretches too far in terms of products, will my profitability suffer?

As banks have tried to improve their profitability, the money they have available to spend on things such as market research has gone down.

It is dangerous to guess what your customers want. It's far easier and perhaps much more profitable in the long run to spend a little time and effort determining what your customers want.

Banks are in business to meet a need in the marketplace, at a profit. That's why they're in business. If they lose sight of meeting that need, they ultimately won't be profitable, as customers will go elsewhere.

Banks that force customers into a specific channel or product or into a specific manner of banking are finding themselves in receipt of negative customer opinion.

More answers >> | MLA Thought Leadership | Profitability Quiz