Article Analysis Credit Unions

Essay by sethstoneCollege, UndergraduateB+, January 2007

download word file, 4 pages 2.0

Week 1 Article Review

Do most companies have a "fun factor" within their organization? Mary S. Gilbert wrote an article in the Credit Union Management about how credit unions make life at work for the employees' fun. Their philosophy was that if the employee likes the product they represent, then he or she will be more productive for the company which in turn helps drive more revenue. We are going to look at how the marketing departments for a few credit unions developed a plan to make the work environment fun and exciting. Also being discussed will be the tactics they used to move towards the "fun factor".

The credit union marketing departments research their target audience every time they release a campaign. They found that in order to encourage customers to buy their product, it needs to be fun and exciting. If the employee who is presenting the product to the customer does not think the item is fun an exciting, that will come across to the customer.

So, marketing departments are taking extra efforts to ensure all employees understand the corporate mission, policies, business goals and new programs. The results from doing this increased employees' job satisfaction and increased performance, and in ending results increased employee retention. The biggest question that every employee and consumer has is "What's in it for me?" By answering that and adding the "fun factor" to the workplace makes the employees a better marketing tool to help direct the customer in the right purchasing direction.

The first tactic used was by Dominion Credit Union during their release of a new mortgage product. A vice-president of the company dressed up in an outfit known as Mortgagebot. They mocked up a press conference and swear-in for Mortgagebot and there were questions by employees on the...