Continuing education quiz.

Creating a New Checking Product

By Walt Albro

1. The key element of the new-product development team was its membership, which was composed:

   1. Of representatives from marketing and consumer banking.

   2. Exclusively of representatives of marketing and sales.

   3. Of representatives of multidiscriplinary departments.

   4. Exclusively of branch managers.

2. After the product was proposed, the next developmental step was to have it evaluated by:

   1. A consumer focus group

   2. A consumer poll.

   3. A test group of users.

   4. A test group of bank employees.

3. The biggest challenge of a new-product idea is to ensure that the product:

   1. Is easy for consumers to understand.

   2. Makes money for the bank.

   3. Is appealing enough to motivate consumers to switch banks.

   4. Does not impose any new fees.

   Coming Attraction

   Interview by Walt Albro

4. The following are all reasons that Fidelity Bank thought that video was more effective than print EXCEPT for it:

   1. Is less expensive.

   2. Can convey subtle messages.

   3. Differentiates the bank.

   4. Communicates better with a younger audience.

5. When using videos in its sales process, Fidelity Bank:

   1. Puts the videos on YouTube.

   2. Invites the prospect to view the video on the bank's website.

   3. Emails the prospect a link to the appropriate video.

   4. Puts the video on a DVD and mails it to the prospect.

6. Prior to producing a video, you should:

   1. Find a videographer who can offer a cut rate.

   2. Develop a script yourself to save on production costs.

   3. Use a production company that has intimate knowledge of the banking industry.

   4. Watch bank and nonbank videos to see what style matches your brand.

   The Power of Peer Influence

   By Bill Lee

7. When building a customer community, be sure NOT to:

   1. Center it around something more than a product or service.

   2. Build it around your brand.

   3. Focus it on customer dreams.

   4. Build on what the product or service means to customers.

8. The key to engaging customers is to help them:

   1. Show their appreciation for an incredibly attractive product or service.

   2. Feel as if they are growing the business.

   3. Have an opportunity to stand out.

   4. Build their social capital.

   The Marketing Tech Revolution

   By Bob Lord and Ray Velez

9. In today's world, the strongest reflection of your brand is:

   1. The logo.

   2. Social media chatter.

   3. Online advertising.

   4. Customer experience.

10. Today, in order to make sense of the consumer, you have to bring marketing in closer conjunction with technology and:

    1. Media.

    2. Demograph...