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Online Banking
Bricks-and-clicks are still the right mix, although more and more
banking will be done online as the boomer population ages into its
70s in the next decade. In an Ipsos-Reid survey of 1,000 US
consumers commissioned by the American Bankers Association
(ABA), 35% of respondents ages 18 to 34 said they banked online
more often than they visited a bank branch or an ATM or used the
telephone or postal service to conduct their banking.Another 33%
said they mostly used ATMs. By contrast, people ages 35 to 54
preferred bank branches (32%) to online banking (29%), as did 47%
of people older than 55. Just 13% of that age group preferred
online banking. Retired people overwhelmingly preferred to visit a
bank branch (48% of respondents), while 35% of full-time workers
preferred online banking, most likely for the convenience. Parttime
workers, who may have more time to run errands, did not
have a strong preference between branches, the Internet or ATMs
(29%, 29% and 30%, respectively), although people without jobs
were more likely to visit ATMs (35% of respondents) than to go to a
branch (28%) or online (17%).
Put another way, 67% of people ages 18 to 34 do not bank online,
according to Mintel International Group. The Ipsos-Reid/ABA data
show 65% of this age group chooses other venues for banking
most often. One element Mintel found: 37% of respondents ages
18 to 34 said that better customer service elsewhere would spur
them to change banks.
from Banking and Bill Paying Online: Chasing Those Digital Dollars (EM-2283)
Retail Banking Business Process Outsourcing
Datamonitor’s survey revealed that change of IT from a cost to a service will be on the top of agenda for retail banking this year. As retail banking technology becomes more sophisticated, the speed of change at both business and IT level is increasing the requirement for rapid adoption of new technologies, and is shortening the
timeframe, over which returns must be made, urging retail banks to focus on cost reduction to drive maximum business value. Further, retail banks are currently facing high support and maintenance costs due to the plethora of platforms and operating systems being used. Thus, retail banks are also looking to develop a streamlined, efficient IT infrastructure to support profitable growth. Regulatory compliance will also dominate banks IT and business projects regardless of geography.
To achieve these objectives banks are increasingly turning to outsourcing. While this has not been the case until recently, retail banks are getting more confident in using these types of services and rate outsourcing quite high as the means to achieve their major business and IT goals. By outsourcing some or all their IT and business operations to third-party providers, retail banking institutions can achieve greater transparency and efficiency of their infrastructure and business processes, thus facilitating the achievement of their strategic operational goals in a more cost-effective way.
from Outsourcing & IT Services in Financial Services Retail Banking BPO (Review Report) (DM-1652)
Global Computer Hardware Market
The global computer hardware market maintained strong growth during the 2001-2005
period. While the European market only narrowly escaped stagnation during this period,
the lucrative Asia-Pacific market grew much more dynamically.
The global computer hardware market generated total revenues of $366.9 billion in 2005,
this representing a compound annual growth rate (CAGR) of 4.8% for the five-year period
spanning 2001-2005. In comparison, the European and Asia-Pacific markets grew with
CAGRs of 0.5% and 7.6% over the same period, to reach respective values of $98.5
billion and $147.1 billion in 2005.
Sales of computer hardware other than PCs proved the most lucrative for the global
computer hardware market in 2005, generating total revenues of $208.2 billion,
equivalent to 56.7% of the market's overall value. In comparison, sales of personal
computers generated revenues of $158.8 billion in 2005, equating to 43.3% of the
market's aggregate revenues.
from Computer Hardware: Global Industry Guide (DO-4922)
Digital Media
By most measures, iTunes is a success story. It has single-handedly
created a legal and user-friendly digital music service that has
translated well across different markets around the globe.The
combination of the iPod and iTunes has been a winner for Apple,
but that is only half the story.The irony is that the iTunes model and
restrictive DRM technologies imposed by record labels are keeping
illegal peer-to-peer (P2P) file sharing alive and well.Why? Because
music lovers are waking up to the fact that they are paying too
much and getting too little.The restrictions imposed upon digital
music downloads are not providing the flexibility that users want. It
is for this reason that new licensing arrangements are likely to
emerge in the near future which will allow users greater flexibility in
what they can do with the music they purchase.The iTunes model
has been an important steppingstone in the evolution of the music
sector, but it will not be the future of music. Music lovers will
demand much more, and if record labels want to stay ahead of the
game, they would do well to look up from their balance sheets and
observe what music lovers are doing with their music. One thing
they are doing is taking their music wherever they go.Globally,
mobile music services will quickly exceed PC-based online music
services in the years ahead.
from Digital Downloading: Music, Movies and TV (EM-2262)
IPtv
The second ingredient one needs to launch IPTV is a favorable
regulatory environment. In countries such as Japan and South
Korea, the two leading broadband nations in the world, IPTV has
not come to market because of a lack of regulatory clarity as to
whether IPTV falls under the category of Internet service or
broadcast service.
Once these ingredients are met, IPTV providers need to assess
their value proposition, and this will vary significantly between
countries depending on the history and dynamics of the particular
TV market. In markets such as Spain, Italy, France and Hong Kong,
the leading broadband access providers are utilizing IPTV as an
aggressive play to move into underserved pay-TV markets. IPTV
has genuine revenue potential in these markets rather than
merely being a churn reducer.
In countries like the US and the UK, however, the value proposition
is less clear and it is likely that telecom operators will use IPTV, at
least initially, as a defensive play. With such a high multichannel TV
penetration rate already in these countries, IPTV is unlikely to offer
anything new that existing subscribers of cable or satellite TV
services do not already receive.The revenue potential for IPTV as a
stand-alone product is limited at best. However, as a part of a
bundle of services, which includes broadband and fixed and
mobile voice, the value of IPTV will be in its ability to reduce churn
and to perhaps recoup some revenue lost to cable companies
offering voice services.
from IPTV: The Global Picture
(EM-2243)
Pharmaceutical Marketing
In recent years, pharmaceutical companies have come under a lot
of pressure over the timing and content of their DTC campaigns. In
remarks made earlier this year, the FDA’s director of drug
marketing, advertising and communications said that 82% of
pharmaceutical ad violations in 2005 were related to "inadequate
presentation of risk information," Advertising Age reported. In
April, Pfizer drew criticism from consumer groups and a US
congressman for resuming advertising of its Celebrex arthritis
drug, according to The Boston Globe. Criticism centered on the
small-print warning that appeared in one corner of full-page, fourcolor
magazine ads (typical warnings can run another full page in
magazines). The FDA requested suspension of Celebrex’ DTC
advertising in December 2004 because of the drug’s links to heart
attacks and stroke. In August 2005, Pfizer strengthened the
language of the prescription information to doctors, which
satisfied the FDA.
In May, Reuters reported that a panel of behavior experts and
other scientists gathered at the independent Institute of Medicine
in Washington, DC, called for more data and less advertising hype
in ads directed to both doctors and consumers. The group
recommended the FDA simplify the information on risks and
benefits in chart form to list basic facts about a drug and how new
drugs compare to older ones. In particular, the panelists said, drug
ads should be toned down so patients can make more rational
choices.They also criticized current DTC ads for making broad
claims without giving proper data.
Last year, PhRMA revised its guidelines on DTC advertising,
effective January 1, 2006. The new rules, called "Guiding Principles
on Direct-to-Consumer Advertising," called for a better balance in
describing the risks and benefits of new drugs and medical
devices, and closer adherence to FDA rules. Adoption was
voluntary, however, and as of April only 27 of PhRMA’s 34
members had signed on, according to Pharmaceutical Executive.
Of the 15 guiding principles, seven are specific only to television,
radio and print advertising. Online advertising is not mentioned
specifically in any of the rules, although the FDA will be watching.
As Med Ad News put it, the FDA will step in if it perceives a breach
of its rules. And once the FDA steps in, regulations only get stricter,
not looser.
from Pharmaceutical Marketing Online: Direct-to-Patient Becomes a Reality (EM-2242)
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