The Public Relations Campaign of the Bank Term Paper

The Public Relations Campaign of the Bank - Term Paper Example The ABC Bank is a leading bank and it plans to fortify its lead and keep competition far behind. Its market research team has identified a way to do so in an opportunity that exists in the market. The opportunity is a need of the potential customers to be able to make payments using their mobile phones. This need is felt in many practical situations. For example, a customer who needs to pay for a restaurant bill, which has somehow exceeded his estimate of what the bill could have been, can instantly pay through his cell phone. He does not have to bother with the credit card or going to the bank to do the same. Or, a Parent, whose kid is studying in a distant town suddenly needs money, the Parent can almost instantly while being on the move and without bothering to access his online account through a laptop or any other gadget, may simply use his mobile phone to send the amount to the kid. The possibilities are numerous and almost everybody seems to have a need for this basic applicat ion that satisfies an elementary need of being able to send money immediately without the hassle of waiting to do the transaction, upon either reaching a bank or reaching someplace that maybe work or home or a business center, where the transaction could be done online. Moreover, there is no transaction charge. As far as the security of the transaction is concerned, there is no need to share account details. Also, the app is pin protected thus making it safe to use.On the face of it, the situation surrounding the launch of the application seems quite favorable. This seems so, given the readiness with which it promises to fulfill a basic need of the public and that is to be able to send money while being on the move and that too for free. The app also promises to be safe. However, a careful scan of the internal environment leads to concerns that threaten to affect the success of the launch or the app itself. A careful and ongoing examination of the related news gives inputs about how this service could be misused and lead to financial fraud.