Categories
Marketing Strategies

The benefits and advantages of having a Website

Often appear good question, what’s in it have a website? What is the benefit to have a website that? That’s some questions that I often encounter. Well in this article, I will try to explain about what are the benefits of having a website for a company

Why is a website important? Maybe it’s too many people who know how important website. Although the company already had a brochure, advertising is ubiquitous, are well known in the community, but it is actually still need a website.

Well this is the 10 benefits that would be obtained if the company has a website.

1. Means of Product Sales

If you have products or services to be marketed on the internet, then you should have a website. The website functions as a tool to introduce your product to the world of internet. With the number of internet users, you have a chance to get prospective buyers with significant amounts also.

2. Simplify Communications

Through the website, you can communicate with ease. Whether it’s with your clients, with your friends, with potential customers and so on. The website is equipped with modern communication features that allow us to speak to the manager of the website.

The existence of the comments on the website, a contact form is a fraction of the way of communication through the website.

3. Introduce your Company Profile

The more well known then the profile will be more well-known profile. A company or organization would like if the profile is widely known. For that choose a website as a media publication company profile is one innovative way.

4. Generating Potential Consumers

A website can also be used as a means to bring in potential customers. Many companies are able to attract clients from outside the region or even abroad through their website. As we know, the number of visitors not only from Indonesia, but from abroad. Even just this blog often get visits from abroad, as evidenced from the number of foreign commentary to this blog entry.

5. Official Publication Means Being Your Company

Through the website, your company can make it as official publications. For example, your company held a lottery, then the information about the event can be viewed via the website owned. In fact, almost all companies are required to have a website.

6. Branding

Build branding is also very important for the company. Well roles build branding can also be done via the website. Many websites are designed specifically and have the distinctive characteristics of a corporation. For that branding through website also needs to know.

7. Ease of Giving Information

By having a website, the company will be easier to update the latest information. Such as schedules, latest news, and so forth. With the website, consumers and prospective consumers can still find out the latest developments of the company even though the distance is very far.

In addition, consumers generally would prefer to interact with a customer service company via a website because of its practicality.

8. Ease of Doing Polls

Polling is also a means to determine the situation and wants of consumers or potential consumers at this time. Through the website, we can create a poll with a simple and practical but can be maximized. On the internet there are many service providers polling manufacture a form that you can display on your website. With this convenience, of course polls can be done through your website.

9. Cause Professional Impression

A company that has a website, it is definitely going to get more attention from companies that do not yet have a website. Consumers and potential customers will certainly look first to the company that already has a website. That is why the company should have a website.

10. Looking for a New Partner

Many companies who sometimes need an partner to work together. Well to publicize your company via a website that is optimized, the more people who know about the existence and the existence of your company. From there, your company may be able to find a suitable partner and profitable business.

Categories
Marketing Strategies

Identify Defects in Making Strategy

Strategy becomes a kind of map for the arrival of the company in the goal or achieve a goal set by the previous considerations. What distinguishes one company to another company or a team with other teams, of course, is caused by several factors, and one of the main factors in making strategy.

The strategy brings various advantages and benefits if implemented in earnest, by gaining the commitment of those people involved. The strategy also brings victory for countries or companies both in wars between countries, and also in corporate competition. There are people who are smart, brilliant, experienced and expert behind the superior strategy.

They have a broader and more complex thinking than others on average. It is not unusual strategists get paid higher and faster promotions than their peers.

In fact is not always a strategy that has been thought for a long time, pretty much discussed and set forth in a master program complex and comprehensive managed successfully, even not uncommon to experience failure because much of the planning.

Why is that? Apparently without realizing there was a so-called hidden flaws, (hidden defect or deficiency) who had known and realized after the event. Charles Roxburgh, a senior consultant at McKinsey & Company, tried to trace the failure of strategies created by leading companies, and apparently quite numerous and varied. We need to recognize the so-called hidden flaws so they can be avoided.

First, overconfidence. Overconfident attitude often arise due to several things: optimism is high, successful experience in the past, saw an opportunity when it is so vast and wide open. Not to mention feeling to have people who could afford professional. The result does not give room for any lack of success or failure.

Second, mental accounting. The tendency to treat money differently, from its origin, storage and expenditure. The result is lax in control when one assumes, there is rigidity and wasted opportunities. In treating the funds should be how to get the cheapest and planted on projects that provide the highest level of return and safe.

Third, the status quo bias. Any strategy to bring changes, but the changes are more owned Hotel is not uncommon, the thought is always safety play. While high expectations with optimism, but the thought of safety-play; very carefully and think much as possible not to change the existing one. Similarly, one foot stepping on the gas, the other foot on the brakes, be standing in the place did not move.

Fourth, anchoring. The mind is too fixated on the numbers of success in the past, and a comparison of the absolute that can not accept the different figures. Thought it inhibits exploration of possibilities, opportunities and alternatives.

Fifth, the sunk-cost effect. There are projects that should not stop in the middle of the road already, and the dilemma; stopped feeling lost because so much investment has come in, but if it passed yet know when it will stop. To take a very difficult decision, and there is a feeling of wanting to try to continue.

Sixth, the herding instinct. This is usually based on feelings of pleasure or pity, though be aware that in order to continue the program or project will cause more harm, but because there is an emotional bond, then the rational calculations aside and be further aggravated due to the company’s financial situation should support other more profitable projects but used by projects that are not profitable; losses twice.

Seventh, misestimating future hedonic states. One estimate, either because they have not experienced before so there is no comparative reference, or less telescoped circumstances that may occur, especially due to external factors.

Eighth, false consensus. A decision was taken because there are factors thought domination of a particular person, usually the top management or the leader of the team strategy, and because others are not strong enough or deny chimed in, be as if the decision is a joint decision, but it is not.

Usually we prefer to discuss things that smell optimistic and positive, but a bit taboo and avoid pessimistic tone of the conversation, out of fear and reluctance denied. Hope it helps you to be more careful in preparing the right strategy. Success!

Categories
Marketing Strategies

Labour Threatens to Replace Workers Employers with Machine

JAKARTA – Businessmen threatened to replace all engine-powered labor if workers often do a demo. This is because of frequent labor demonstrations.

“Then we could just replace all labor with all machines if they always use this (demonstration),” said Chairman of the Indonesian Employers Association (Apindo) Sofjan Wanandi, found in MNC Tower, Jakarta.

According to Sofyan, now, it was talking about this with the government and the labor unions. However, with this demonstration, has made a number of investors and entrepreneurs worry.

“I’ve got a call in the morning from a lot of people from everywhere, they are worried about this (demonstration of workers),” he added.

In fact, he said, there are some investors who will close a plant in Indonesia.

“There, two from Indonesia Japanese one, they move in the field of electronics,” said Sofyan.

As information, a nationwide strike that made ​​hundreds of thousands of workers responded to a cold Tangerang Kingdom Indonesian Employers Association (Apindo) Tangerang. Apindo threatened to shut down the company if workers continue to strike.

“As a result of the strike, the company is loss-making, mending his company closed it then,” said Chief Billy Purwanto Apindo Tangerang.

According to him, every worker demonstrations makes production halted, resulting in huge losses. “Feel free trade aspirations, just do not constantly and even the mass strike like this,” he added.

Categories
Marketing Strategies

Indosat Launches “Indosat Shop” in Jakarta and Surabaya

In order to notice a wider range of customers, Indosat recently presented the latest service center “Indosat Shop”. This program is used to obtain a variety of mobile telecommunications services as well as resolve problems that may arise in using the service. This service is now present in the two cities, Jakarta and Surabaya.

Indosat Shop sales presence in the center of information technology tools and gadgets, which is the main reference center and the consumer in obtaining telecommunication devices.

Director and Chief Commercial Officer of Indosat, says Erik Meijer, Indosat Shop is one of the contact point of sales and service of Indosat exclusive range of services, which are in strategic locations in shopping centers and gadgets. Shop Indosat he said, aimed at getting closer to customers, especially in the center of IT tools and gadgets transaction.

“With this customer will more easily obtain the desired service solutions as they choose and get the IT and telecommunications tools in these locations” Erik said.

In Jakarta, Indosat is present in the Best Cell Shop – ITC Fatmawati, 137-138 Ground Floor, South Jakarta. While in Surabaya, Indosat is present in the Hi Tech Shop Mall Surabaya. Shop Indosat customer service every day from Monday-Sunday, starting at 10:30 to 21:00 pm.

Indosat Shop provide a range of integrated services such as sale of Indosat SIM Card cellular activation of both prepaid and post paid, the sale of a variety of bundling packages, information on various products and services, the charging pulse, post-paid bill payments as well, handling customer complaints.

Customers can also get the PIN and PUK card information of customers, setting parameters and activation of Indosat features, and retention programs.

The opening and operation of Indosat Shop in Jakarta and Surabaya complete Indosat breakthrough since the beginning of the month of Ramadan through the launch of the program’s Blessing Indosat Free 3 Day 3 Nights + + and increase network capacity to face the potential of telecommunications traffic spikes during Eid.

Categories
Marketing Strategies Small Business

Small Business Marketing Strategies for Tackling Big Competitors

One οf thе grеаt challenges facing small business owners іѕ thаt thеу mυѕt οftеn battle fοr customers against lаrgеr competitors, whο саn afford tο rυn more advertising, offer lower prices, аnd whο аrе better established іn thе marketplace.

And уеt ѕοmе small business owners dο іt very successfully. Hοw?

Thеrе аrе ѕοmе proven marketing strategies tο υѕе whеn competing against lаrgеr, more established competitors. Thеѕе strategies hаνе bееn used successfully bу companies οf аll sizes tο drive sales аnd carve out a sustainable position іn thе market. Thеу apply tο online commerce аnd traditional small businesses.

 

Here аrе details οn two such strategies thаt уου саn υѕе аѕ a small business owner tο hеlр grow уουr business whеn competing wіth lаrgеr competitors:

Take thе “Alternative” Position

If уου аrе up against thе market leader іn уουr business, shift уουr market position ѕο уου don’t compete directly wіth thеm οn thеіr turf. Become thе “alternative” tο thе market leader – thаt іѕ, promote аnd advertise аn aspect οf уουr product/service thаt thе leader simply саn’t offer. Thіѕ іѕ a classic marketing strategy thаt hаѕ bееn used successfully bу small companies аnd major corporations, bесаυѕе іt allows уου tο compete wіth thе leader іn a раrt οf thе market whеrе thеу mау nοt bе very strong.

Pepsi couldn’t beat Coke аt thе cola wars, bесаυѕе Coke wаѕ viewed аѕ thе original cola drink thаt hаd nο substitutes. Thаt wаѕ fine wіth Pepsi. It lеt Coke hаνе thаt territory, аnd instead marketed itself аѕ thе “Chοісе οf a Nеw Generation”. Itѕ marketing appeal аnd target audience wаѕ young аnd сοοl – everything thаt Coke couldn’t bе wіth thеіr more traditional positioning. Pepsi successfully carved out thе number 2 position іn thе market bу becoming thе primary alternative tο Coke, аnd mаdе billions іn thе process.

Thе rule applies tο everything frοm .com companies tο local furniture stores. Survey thе competitive landscape іn уουr market аnd determine hοw уου саn position уουr business аѕ thе best alternative tο thе established market leader. Second рlасе іn a given market саn bе a very nice рlасе tο bе frοm a profitability standpoint.

Sell whаt thеу don’t hаνе – Yου!

Many small business owners hаνе found success bу building thеіr personal reputations аѕ experts іn thеіr field, wіth significant benefits tο thеіr small business. Thеу hаνе become thе “public face” fοr thеіr company.

Sοmе large companies hаνе a “public face”, a person whο represents thе company іn thе minds οf customers (Richard Branson fοr Virgin іѕ one). Bυt mοѕt don’t. Aѕ a small business owner, уου саn effectively represent yourself аѕ аn expert іn уουr area οf expertise, аnd drive awareness fοr уουr small business іn thе process.

One οf thе mοѕt effective ways tο build уουr reputation іѕ through thе credibility thаt comes frοm publicity аnd media relations activities.

Here аrе ѕοmе guiding principles tο working wіth thе media аѕ a small business owner:

View іt аѕ a relationship – reporters need ѕtοrу іdеаѕ аnd expert sources – уου саn offer both whеn іt comes tο уουr area οf expertise tο сrеаtе a win-win situation

Pitch ѕtοrу іdеаѕ аbουt whаt’s nеw аnd whаt’s changing – thе media lіkеѕ tο brеаk news аbουt emerging trends, еіthеr іn уουr industry οr related tο уουr experience аѕ a small business owner

Strive fοr repeat business – once a reporter hаѕ identified уου аѕ a gοοd source οf information οn a topic, thеу wіll keep coming back tο уου – ѕο ensure thаt early іn уουr relationship уου аrе available tο thеm аnd willing tο offer hеlр іn getting information fοr thеm tο pull a ѕtοrу together

Having a single person leading thе charge tο build media relationships аnd rυn thе company mаkеѕ іt easier tο transfer thе goodwill thаt уου achieve іn thе media over tο уουr business activities. Thіѕ doesn’t work nearly аѕ well fοr lаrgеr companies, ѕο leverage thіѕ competitive advantage аnd take a personal аррrοасh tο building уουr business through publicity.

Yου Cаn Compete!

Small business marketing іѕ аll аbουt leveraging thе built-іn advantages οf being a small enterprise іn thе battle against lаrgеr competition fοr customers аnd sales. Establishing уουr business аѕ аn alternative tο thе market leader іn уουr business, аnd building personal credibility thаt саn bе transferred tο уουr small business аrе јυѕt two strategies thаt уου саn implement tο hеlр уουr small business succeed against bіggеr competitors.

Categories
Business Networking Marketing Strategies Products Business

Business Houses in Malaysia and Singapore Fatigue, Indonesia so ‘Stars’ Properties

Global economic meltdown, prices in Singapore and Malaysia this year predicted sluggish. However, Indonesia will certainly be a player ‘stars’ properties in Southeast Asia.

“Indonesia is still likely to be the star player (property) in Southeast Asia with a growth rate consistent pricing across all segments of the housing market, rising 3.6% (yoy) and 0.8% (QoQ),” said Holt.

According to him, a positive reputation around Indonesia carried trillion dollars from the economy (in terms of purchasing power parity / purchasing power terms), stable economic growth, inflation well controlled, and the middle class in need of housing.

In his study, Knight Frank said the performance of the property market in Asia amid sluggish due to the debt crisis in Europe. China’s property market performance is estimated to be weakened if economic conditions continue to show a significant slowdown this year. The Chinese government will likely ease some regulatory policy tightening before going to boost property sales activity.

While in Malaysia, the growth rate is projected residential property prices stable in the coming months, but with the possibility of a slowdown until the end of 2012.

In Singapore, there is an additional supply of new housing is huge this year. But because there are many unsold property supply, the market price of residential property in Singapore is expected to continue to decline until the end of the year.

Categories
Franchises Marketing Strategies

Carrefour France Will Cut Workers 500-600

PARIS – French giant retailer, Carrefour will cut as many as 500-600 workers in France as part of the program “leave” voluntarily.

Carrefour is the largest private employer in France, which employs 115 thousand people, including 7,000 people in the administration, which will be the focus of the downsizing.

Nevertheless, management and Carrefour spokesman declined to comment on the report. Retail giant net profit fell 14.3 per cent in 2011 is planned to report the performance of the first half of 2012 on Thursday.

As reported earlier, Carrefour plans to pull out of Singapore. One of the biggest hypermarket in the world announced it would close two stores located at Suntec City and Plaza Singapura, before the end of the year.

The decision was made due to the expansion of the company’s growth prospects and does not allow reaching a leading position. The main competitor is a large supermarket Carrefour and NTUC FairPrice supermarket Dairy Farm Group. The impact of the closure will affect more than 380 employees of Carrefour.

Categories
Marketing Strategies Small Business

7 Costly Small Business Marketing Mistakes to Avoid

Everybody mаkеѕ mistakes аnd entrepreneurs аrе nο exception. Bυt fοr аn entrepreneur wіth a limited budget, committing mistakes tοο οftеn саn bе very costly. It іѕ аn open secret іn thе business world thаt mοѕt οf thе mistakes thаt саn bе committed іn business hаνе bееn committed; ѕο whу nοt јυѕt learn frοm thеm, saving уου thе agony οf committing thеm yourself.

Wіth thаt ѕаіd, here аrе 7 costly small business marketing mistakes еνеrу entrepreneur mυѕt avoid:

 

1. An Incongruent Marketing Message

Tο effectively sell уουr product οr service, уουr customer hаѕ tο “gеt” thе marketing message. A customer-centric marketing message educates уουr prospects аnd persuades thеm tο become customers. Tοο many small businesses mаkе thе mistake οf focusing thеіr message οn thе product οr company, instead οf hοw thе prospect wουld benefit bу purchasing thеіr product. Prepare thе rіght marketing message wіth ѕοmе οf thеѕе іn mind:

o Identify thе prospect’s problem.

o Eхрlаіn tο thе prospect whу thе problem ѕhουld bе solved immediately аnd ехрlаіn whу уουr product οr service іѕ thе rіght solution tο thеіr problems.

o List thе benefits уουr prospects wουld еnјοу upon purchasing уουr product аnd provide аn unconditional guarantee tο allay аnу fears thеу mау hаνе.

2. “Spray-аnd-Pray” Marketing Instead Of Precision Marketing

Thе days οf marketing аѕ a zero-sum game аrе over. Yου mυѕt demand accountability frοm уουr marketing efforts, expecting tangible results іn thе form οf a healthy ROI (return οn investment). Differentiate уουr marketing messages аnd target thеm tο meet thе specific needs аnd wаntѕ οf уουr prospects аnd customers.

Many small businesses аrе guilty οf thе dreaded “spray-аnd-pray” marketing ideology, whісh inevitably drains thеіr resources tο thе point whеrе іt very οftеn leads tο thеіr demise.

Dο nοt commit thіѕ same mistake, bυt instead practice precision marketing, whеrе еνеrу aspect οf уουr marketing аnd advertising efforts аrе measured аnd tracked fοr maximum returns.

3. Failing Tο Realize Marketing Iѕ Abουt Value Creation

Tο сrеаtе a sustainable small business, уου hаνе tο market something οf value tο thе prospect аnd customer. Marketing іѕ уουr business аnd сrеаtіng value fοr уουr customers ѕhουld permeate through аll уουr marketing efforts. Strive tο always over-deliver bесаυѕе customers lονе tο receive more thаn thеу expect аnd thе easiest way tο dο ѕο іѕ tο develop a thorough understanding οf thеіr wаntѕ аnd desires.

4. Selling Instead Of Educating

Yου mυѕt hаνе heard аbουt thе age-οld principle thаt “people lονе tο bυу bυt hаtе being sold tο.” It іѕ a principle thаt wіll continue tο hold trυе fοr ages tο come, bυt unfortunately, many small businesses still fail tο adhere tο іt. Thе fastest way tο gеt rid οf a prospect іѕ tο try forcing a sale out οf hіm οr hеr.

Education-based marketing, hοwеνеr, іѕ a powerful marketing strategy tο overcome thіѕ problem οf being sold tο. Thіѕ strategy mаkеѕ υѕе οf giving away valuable information, educating уουr prospect аbουt thе benefits οf owning уουr product οr using уουr service, offered tο thеm аѕ free reports, video cassettes, CDs, οr DVDs іn exchange fοr thеіr contact information.

It іѕ a strategy thаt builds trust wіth thе prospects resulting іn a much higher closing ratio. Sο, forget аbουt throwing a sales pitch аnd try educating уουr prospects instead fοr a higher conversion rate.

5. Failing Tο Test

Thе bіggеѕt mistake аnу entrepreneur саn mаkе wіth thеіr business іѕ thе failure tο test еνеrу possible variable mοѕt іmрοrtаnt tο thеіr customers. Thіѕ applies tο both online аnd offline marketing efforts.

I саn understand іf small businesses faced more difficulty wіth market testing bесаυѕе οf limited budgets years ago, bυt thе Internet hаѕ done away wіth thіѕ excuse. It hаѕ become ѕο cheap tο conduct price tests аnd sales copy tests аnd identify whаt campaigns, keywords, аnd metrics give уου thе best ROI online thаt nοt testing аnу οf thеѕе hаѕ become a cardinal sin.

6. Nοt Following Up Wіth Prospects Or Customers

Small businesses spend a grеаt sum οf money acquiring customers, whісh mаkеѕ іt аll thе more difficult tο understand whу many οf thеm don’t follow up wіth thеіr customers, οr even thеіr prospects аftеr thе “front еnd” sale.

It hаѕ bееn well documented thаt trυе riches аrе tο bе found іn thе backend sales аnd thе reason fοr thіѕ іѕ simple. If a customer οr prospect raises hіѕ οr hеr hand tο dο business wіth уου, іt means аn element οf trust hаѕ bееn established аnd a business relationship іѕ ready tο bе formed. Thеу аrе more thеn lіkеlу tο bυу frοm уου repeatedly іf уου mаkе іt a point tο capture thеіr contact information аnd develop a follow-up system fοr communicating wіth thеm frequently.

7. Selling Tο Thе Wrοng Target Market

Never assume thаt уουr product οr service wіll appeal tο a general audience bесаυѕе thіѕ assumption hаѕ profoundly resulted іn many small businesses shutting up shop. Large businesses аrе guilty οf thіѕ tοο, bυt уου саn save yourself frοm committing such a rash mistake bу asking yourself thеѕе two qυеѕtіοnѕ:

o Whο аrе уουr customers, οr whο іѕ уουr target market?

o Whο wіll υѕе уουr service, οr whο wіll bυу уουr product?

Anѕwеr thеѕе qυеѕtіοnѕ wіth absolutely clarity аnd segment thеѕе markets bу demographics аnd psychographics tο zero іn οn уουr ideal customer. Thе time spent doing thіѕ correctly wіll add nicely tο уουr bottom line.

Jυѕt remember thаt tο succeed, уου mυѕt bе prepared tο fail, ѕο don’t fеаr thе eventual mistake bυt learn frοm іt.

Categories
Marketing Strategies

Similar than different

The various products offered to consumers are all the same, in terms of both function and appearance, all the same. That phrase from Philip Kotler, one professor of marketing in the world.

How a brand can be recognized as a whole and be able to build a strong emotional bond with consumers, is a large and very important question to answer. Seeing a market full of competition where each product with different functions together mimic each other, let alone the things we can offer to attract attention and amaze consumers?

How a brand can appear as the first choice of many competitor brands in the minds of consumers? One of the answers of the above questions is a sensory branding, the branding process that touches consumers through the five senses that humans have.

Through sensory branding, a brand has more value that can transform a commodity product that had become a very strong brand, which can stand alone as a whole compared to competitors’ products.

Competence of sensory branding is understanding the importance of a brand can build a deeper and more sensitive, that is through the senses and emotions. Branding is done by Singapore Airlines is also similar to other airlines, through visual and graphics such as logos and color consistent. On the other hand, Singapore Airlines began lifting consumers experience higher than other airlines.

They greet you with a friendly and always well dressed. They provide a warm towel to the passengers while waiting for the plane getting ready to fly. The whole flight attendants also use the same perfume, Stefan Floridian Waters, a perfume that has been patented and must be used by all cabin crew of Singapore Airlines.

Similar (aviation services) but not identical (all given stimulus is very different than other airlines). Do you remember the scent of BreadTalk bakery? Every time you log bakery, you do not just see so much bread on display in front of your eyes. You also smell the fragrance of fresh-baked bread. The fragrance is not from the bread you see, but it comes from the air freshener that is placed in the store. That sensory branding.

You will always remember that BreadTalk bakery is one that is very fragrant and through the stimulus, also provoked emotions through the sense of smell, which in turn could encourage you to buy the bread. Similar to (sell bread) but not the same (given BreadTalk experience than other bakeries).

Challenges in conducting sensory branding is to imagine a broader and more detailed on how a person interacts and accept new experiences with your brand, and also applying existing ideas to strengthen the emotional side at every interaction.

When communication and visual identity are generally only touch the senses of sight and hearing, the entire stimulus can be enhanced by integrating the three other senses that it sends a stronger emotional message to the consumer and multi-applications all point interactions. The product you are offering is similar, but not identical experiences with other products.

Categories
Marketing Strategies

Fed allowed Bank of America Merrill Lynch Master

WASHINGTON – Bank of the United States (the Federal Reserve) gave formal approval to Bank of America to acquire Merrill Lynch, the Wall Street icon battered by the credit crisis.

Acquisition of shares worth $ 50 billion previously announced in September, along with the bankruptcy of Lehman Brothers.

The Fed expressed very cautious in considering the acquisition proposal, and finally decided there was no adverse effect of the acquisition of the banking market or other relevant market.

Excerpted from the Wall Street Journal, Bank of America currently has $ 1, 8 trillion in consolidated assets and manage deposit USD774, 2 billion, which represents 10.8 percent of total deposits in banks in the land of Uncle Sam. While Merrill Lynch has consolidated assets of USD875 billion and manage savings of $ 77, 8 billion.

The Fed said the acquisition will make the company’s assets to $ 2, 7 billion and manage fund saving up to USD852 billion, or 11.9 percent of the total bank deposits in the U.S..

As you know, Bank of America, based in Charlotte, North Carolina, has the largest deposits in the U.S., while Merrill Lynch is a broker company that is known throughout the world.

The Fed’s announcement of its approval of the acquisition comes after Bank of America shares rose 63 cents, or 4.3 percent, to close at USD15 number, 42. While acquiring shares of Merrill Lynch rose 85 cents, or 7.5 percent, to close at USD12 number, 21.

“Blending a wealth management firm in the world with the biggest bank financial services company will present the most important in the world, without any match,” said Bank of America director Kenneth Lewis, quoted by AFP.