Online Assessment Essay Example | Topics and Well Written Essays - 1000 words

Online Assessment - Essay ExampleRESPONSE 1 Samba Bank uses ii Cialdini weapons of influence (Polanski 1-6), which includes reciprocality and scarcity intentionally. Notably, reciprocity dictates that whenever we receive range, we get an impulse to give value blanket (Cialdini 3-8). Indeed, in some cases, we may even get inspired to give back more value than we received. Indeed, whenever we receive value free in the tradeing, it is for impelling reciprocity. Hence, we have so many promotions, discounts, and gifts in the market to trigger us into buying more (Cialdini 3-8). In the case of Samba bank, this weapon applies where the bank hospitalizes customers with costly kinds of coffee, dates, and chocolates, which get customers satisfaction. The reciprocity effect is that the bank will maintain its customers and encourage them to do more transactions. As branch manager, I also use this weapon mostly when dealing with a customer who is forbidden of the country and his convictio n deposit has matured. I seek to satisfy such customers when they call the bank for a restoreal instead of following the formal paper work process of renewal. As such, I renew their accounts over the phone and wait for their signatures until they come. Hence, I satisfy their needs with an aim of maintaining them and gaining reciprocity when they return. Moreover, I fade out customers accounts while they are abroad if the cause to freeze was a simple issue like decease of their ID. In this way, the customers will be able to use the account while travelling and update their ID when they return. This results to reciprocity as such customers invest in the bank for a long time. I also batten that customers seeking business loans get the funds within a laconic time with an aim of gaining reciprocity when their businesses grow. Scarcity is other weapon used in Samba bank to derive a cognizance that a financial product or service is limited or diminishing thus, creating more pick ou t for the product (Cialdini 199-207). Indeed, the scarcity weapon creates promotions, which seemingly end at a certain time however actually never ends. They only encourage more sales at the end of the promotion time (Cialdini 199-207). In Samba bank, there are random quips to attract more customers to the bank or development the cash flow. Indeed, the bank offers a chance for customers to deposit smaller amounts than normal to elevate their accounts. For example, the bank allows customers to upgrade from the Blue to Gold segment on depositing only $ 25000 instead of the normal $75000. This compels customers to deposit in their accounts with money from other banks thus increasing Sambas cash flow. Moreover, the bank offers the customers a chance to enchant free credit card life at no annual fee for a short period. This attracts new customers to the benefit of the bank. RESPONSE 2 Samba bank uses various marketing strategies that relate to the concepts/theories in Arielys Predic tably Irrational book. Such concepts include the cost of zero cost concepts and the power of determine concept. The concept of cost of zero cost implies that humans consider losses and profits before buy but when some occasion is free, customers do not consider the losses (Ariely 50-56). Indeed, customers get the perception that the product on offer has more value than its face value. Indeed, people would wait for long to get a free thing (Ariely 49-54). As such, this concept is very powerful in triggering customer