Charles Schwab Customer Focused E-Business Strategy


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Case Details:

Case Code : ITSY042
Case Length : 17 Pages
Period : 1997-2004
Pub Date : 2004
Teaching Note :Not Available
Organization : Charles Schwab
Industry : Financial Services
Countries : US

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This case study was compiled from published sources, and is intended to be used as a basis for class discussion. It is not intended to illustrate either effective or ineffective handling of a management situation. Nor is it a primary information source.

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Website Enhancement

With the increasing number of online customers, Schwab initiated measures to improve its website architecture so that it could handle large volumes of transactions. The company also wanted to offer customers services that they found difficult to get over the phone, contact centres or branches. In 1997, Schwab began efforts to improve the website content and provide more research tools to customers.

A point of distinction between Schwab and other full service brokerage firms like Merrill Lynch was that the former, through its various channels, acted as a facilitator for executing trade and not as an investment advisor...

The Efforts Continue

In line with these ongoing efforts to launch new customer focused services, Schwab launched the Personal Choice program in February 2004 (Refer Exhibit V for an overview of the Personal Choice program). This service provided retail investors a wide variety of investment and advice and appropriate pricing, depending on their specific needs...

Exhibits

Exhibit I: Growth Of Charles Schwab's Online Accounts (1995-2002)

Exhibit II: Charles Schwab's Growth (1993 - February 2004)

Exhibit III: Services Offered By Online Brokers

Exhibit V Schwab's Service Offerings

Exhibit V: Schwab's Personal Choice Program

Exhibit VI: Awards And Recognition For Schwab
 

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