Cibc Mortgages Pre Call Report
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[pic 1]______________CIBC Mortgages________________________________________________________________________________________________________ Pre-Call ReportPrepared for: – Vik SinghContentsEXECUTIVE SUMMARY        2INDUSTRY KNOWLEDGE        3COMPANY KNOWLEDGE        7PRODUCT KNOWLEDGE:        9Competitive knowledge        12BMO        12CUSTOMER KNOWLEDGE-        14ANTICIPATED OBJECTIONS        17CIBC MortgagesPre-Call Report                        EXECUTIVE SUMMARYThis report discusses in detail the CIBS Mortgages.  It starts by highlighting the industry by its current economic, legal/political, technological social/environmental and current trends. Moreover, it also discuss about the impacts of these trends and the future outlook concerning these trends.  The report then moves onto the company details such as the size, reputation, history, image in industry and, outlines the company’s selling policies its practices and procedures affecting selling process.The report goes on to talk about the actual product itself, giving a detailed description of the mortgages along with its main features and how they are profitable for the investors. In addition, it explains the mortgages service support features and its key statistics.The next section is about the mortgages main competitor which is TD Mortgages, Scotia Mortgages, and BMO Mortgages.  It contains profiles of the company, lists key features and benefits of the mortgages, compares these features and benefits to those with other company and comparison of CIBC company’s support services to the other companies.The report provides a segment of Customer knowledge which have the key customer demographics for the mortgages explained in detail.  These details include key buying needs and major motives which also include and the matching of CIBC’S product and service.The last section anticipated objections is also an important part of this report which includes five possible objections by target market which also includes the appropriate response.INDUSTRY KNOWLEDGEBusiness/Economic FactorsIn the banking industry, the economic forces of the country matters a lot. Economic conditions affect different variables like incomes, employment, recession and prosperity which influences the demand for banking services in that country success. Some Economic factors which we analyzed from this analysis are given below:

•In a situation when economy is at nearly at recession, government would need to increase its expenditure and for that purpose it will have to borrow from the local banks, which would increase the demand for the loans by the government.•When the rate of interest is increasing, the demand for money is decreasing and on other hand the supply of the money is increasing. Most of private firms and households dont borrow money from the banks due to higher interest rate.Political Factors Political forces also play an important role for the continual of smooth and regular operations in the bank. The present political scenario in Canada is favourable to the banking sector because the present government is establishing and maintaining good relations with the foreign nations due to which many of foreign banks have entered the Canadian banking industry.•One important force that affects the operations of bank in a specific country is the stability of the government of that country and currently the political situation is stabilized due to which the people are keeping their money in banks and banks have enough money supply to carry their regular operations•BOC decides the interest rate, Balance reserves with the banks and many other policies. So when the government changes policies, the bank industry is also affected.Technological Factors Technology plays an important role in providing effective and efficient services to its customers. The banks must be familiar with the latest technologies and they must also implement those technologies in their banks.•Now days the latest and emerging trend is Internet banking or also known as E-banking. Through the internet banking people can access their information without visiting the banks.  E-banking has many advantages like 24hour banking service at their own home PC or pocket PC. •The networking and other technologies: LAN and WAN introduced in the banks have also improved the efficiency of banks. By using the networks, the communication and sharing of the different information between branches of the bank has been become easier, efficient and speedy. •As technologies has many advantages on the other side it also involves many security risks. Especially the trend of cybercrime is increasing at an immense level. Social Factors Social environment of an organization plays an important role in the performance of an organization. An organization must carefully observe the cultural and societal forces while performing its operations in that particular area.• Banks are open for every one and a person from any social class can utilize their facilities by completing their legal requirements. Majority of banks are targeting the middle class and upper class. While some banks target the business class people and other big parties.•The Canadian society is becoming more knowledgeable and educated about the latest trends in the world due to which they are readily adapting new technologies. •Lifestyle of most of the people is moderate because majority of people are middle class.Legal AnalysisLegal Forces are important and play a vital role for the establishment and continuous successful operation of the bank. So the legal forces should be carefully observed by the banks. In Canada, BOC is the central bank which governs all the banks. All the banks need to work with in the instructions and the permissions of the BoC. In our analysis we found the following facts related to the legal forces in micro environment of the bank:

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Local Banks And Objections        17Cibc Mortgagespre-Call Report. (June 21, 2021). Retrieved from https://www.freeessays.education/local-banks-and-objections-17cibc-mortgagespre-call-report-essay/