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Case Competition

By: Tyler Fisher, Richard Pevo, James Stovall,


Andrew Drain

Who is 1st Mariner Bank?


Core Competencies:
- Community Bank
- Creating Relationships in Baltimore area
for more than 20 years
- Customer Focused Company
- Largest Independently owned bank

External Analysis
Opportunities:
Expand Operations outside of the Baltimore Area
Increase growth, profitability, and increase competition

Advancement of technology (web/mobile)


Keep up to date with competition and industry standards
Lessens threat of substitution

External Analysis - cont.


Threats:
Online Banking Industry
Growing every year, attracting younger generation

Regulations and laws


Laws/regulations passed yearly affecting banks
Create more/less power for suppliers/buyers

External Analysis - cont.


Threats:
Threat of Substitution
1st Mariner is customer focused and creating relationships
Online banking is being quick and reliable with millennials
Hard to integrate 1st Mariner culture into online world

Internal Analysis
Services Provided:
Traditional Banking (16 branches)
Checking Savings accounts, debit/credit cards, insurance, online
personal banking, consumer loans

Business Banking
Commerical loans, online business banking, employee benefit plans

Active on Social Media

Internal Analysis - cont.


Strengths:
Customer Focused Bank/Culture of 1st Mariner
Does well with families and older generation (83.3% over age 32)
Leads to a competitive advantage
Competitors can't match the values
Looks out for families and individuals of Baltimore

Popular Public Figure

Internal Analysis - cont.


Weaknesses:
Values dont relate to younger generations
Attracting younger generation with family-based culture is hard
Millennials dont have the knowledge/expertise

Technology with online/mobile banking


Cant compete with competition in terms of quality
Falls behind in appearance and quality

Comprehensive Strategy
1st Mariner Scholarships
$50,000 over 3-year span
Towards college scholarships for existing 1st Mariner customers who meet
requirements

Goal: Offering Millennials an academic advantage while also


showing them that 1st Mariner cares about their future
Why: Student loan debt, tuition costs, future of our clients, campus
involvement

Comprehensive Strategy
Social Media Advertisements
$50,000 over 3-year span
Towards advertisements on all popular social media platforms

Goal: Reach Millennials where they are most attentive/active


Why: Social Media popularity, ads with hot topics, less costly than
TV

Comprehensive Strategy
Technological Updates
$50,000 over 3-year span
Towards revamping technologies offered online (i.e. online banking) and in-store
(i.e. ATM)

Goal: Offer up-to-date and innovative technology to our customers

Comprehensive Strategy
Paying Workers
$50,000 over 3-year span
Towards paying salaries for technological experts revamping all
technologies
Website/App
ATMs

Comprehensive Strategy
Milestones
1.Reach 500 new millennial customers in 1.5 years, and 1000 new
millennial customers 3 years after implementing strategy
2. Reach 500k followers on social media 1.5 years, and 1 million new
followers 3 years after implementing strategy
3.Create Presence on College Campuses in Baltimore Area
a. Reach 5 campuses after 1.5 years, and reach at least 10 after 3 years

5 Force Model of Banking Industry

Bu
yer
s

Su
ppli

Investors are buyers. This


became apparent in 2014
when 1st Mariner was
released from a six-year
enforcement action after
filing for bankruptcy. Other
competing banks are buyers
as well (RKJS Bank,
National Penn Bank, etc.)
The Bargaining power of
buyers is a threat.
(Customers can switch to
other banks or products at
little to no cost)
Suppliers can become
competitors (by integrating
forward). For example,
suppliers can begin their
own financial service and
become competitive in the
market. If suppliers are

1st Mariner Bank Vs Competitors


Scholarships/Benefits for
Students
For Students apart of 1st
Mariner and are enrolled in
high school/college We
want to:
Provide Scholarships where
the only stipulation includes
banking at 1st Mariner
Provide lower APRs and lower
penalties on credit cards
Offer Rewards for using your
credit card (Rewards
include Smartphones, New

Social Media
Use some funds to be more involved on
Twitter, Facebook, Youtube, Snapchat,
etc.
Update profile picture on all social
platforms to be more appealing to
millennials
Create a Snapchat account and a
Snapchat filter
Create an event involving Joe Flacco and
use social media to promote it

Why Competitors Will Struggle


Large market opportunity
US Dependency Population Percentage
Ages 18 - 64: 62% (Projection:
childstats.gov)
Inclined to bank with a family
trusted brand

Motivation
Scholarship possibilities
Performance Metrics in Annual
Incentive Plans
72% - at least one financial or

References
American FactFinder. (n.d.). Retrieved April 11, 2016, from http://factfinder.census.gov/faces/nav/jsf/pages/index.xhtml

8 trends shaping the bank of 2030. (n.d.). Retrieved April 11, 2016, from http://www.ey.com/GL/en/Industries/FinancialServices/Banking---Capital-Markets/8-trends-shaping-the-bank-of-2030

Social Media Costs. (n.d.) Retrieved April 11, 2016, from


http://www.contentfac.com/how-much-does-social-media-marketing-cost/

1st Mariner opening new location. (n.d). Retrieved April 11, 2016, from
http://thedailyrecord.com/2016/03/16/1st-marniner-newark-delaware/

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