Peopleā€™s Bank
Essay title: Peopleā€™s Bank
Peoples Bank
Marketing Management Concepts
Peoples Bank
Peopleā€™s Bank when first opened in 1842 was opened as a general savings bank that targeted the blue-collar worker of the U.S. wishing to save their money in a reliable banking institution. Since that time it has grown into a multi-service financial institution with assets of around $ 12 billion. Currently Peopleā€™s Bank offer diversified services such as mortgage loans, credit cards, brokerage and investment services as well as auto, home and other personal insurance services. Their services are available through not only the traditional methods but have expanded to include online and over the phone services (Peoples Bank, 2005).

What role is Peoples.com playing in the distribution of these insurance products?
Peopleā€™s Bank offers the insurance services of many major carriers such as Travelers, The Hartford, Kemper, Chubb and others. Their insurance services are handled by RC Knox & Co. which is a subsidiary of Peopleā€™s Bank. In offering these insurance services then Peopleā€™s is assuming the role of an insurance agency but at the same time is offering a ease of service that is attractive to present and potential customers due to its ability to handle all of a customers needs through one entity (Online Services, 2005).

What is the length of the channel the bank uses to distribute its own checking account products?
The channel Peopleā€™s Bank uses to distribute its checking account services is a direct distribution channel. This could be called a zero-level channel since Peopleā€™s is selling their services directly to the customer (Kottler et al., 2003 p. 508). The bank offers e.plus, peopleā€™s plus, advantage plus, advantage plus premium and student checking services that can be put into place by either a visit to a branch or via their online services (Online Services, 2005). Kottler (Kottler et al., 2003 p. 508) cited the examples of internet selling and manufacturer owned stores as methods of direct distribution channels, in this case then the bank owns the services the customer desires and sells directly to them.

How would you describe the channel positioning of Peopleā€™s Bank?
The positioning of Peopleā€™s Bank is in the service sector (Kottler et al., 2003 p. 509). Its services are focused on banking products such as deposits and loans, checking, investment services and credit cards and offerings related to these such as electronic

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Multi-Service And Peopleā€™S Bank Offer. (April 2, 2021). Retrieved from https://www.freeessays.education/multi-service-and-peoples-bank-offer-essay/