Target Market

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					Executive Summary

       Univation is dedicated to helping Wachovia retain its college account holders after
graduation in innovative and groundbreaking ways. In order to do this, Wachovia must build a
deeper and more mutually beneficial bond with the target market, the collegiate Generation Y
culture. Therefore, Univation has created the concept of myWachovia, which encompasses the
generational desire for the mobility and personalization of their products.
       The goal of myWachovia is to let customers know that Wachovia is capable and willing
to give them what they want, when they want, and where they want the bank’s products and
services. The technological boom of the past ten years has led to the growing divulgence of what
a customer is capable of doing in a single product. For example, cell phones have ceased to be
merely phones; they are phones, cameras, video recorders, calendars, digital music players, and
much more with time. Just like the diversification cell phones, Wachovia must become more
than just a bank and be willing and able to reach markets through non-traditional and pioneering
methods in ways that will transform the nature of banking.
       This will be achieved by updating the current Wachovia website to include things such as
customized banking, allowing customers to bank through a wireless provider, and increasing on-
campus presence. This way the customer can decide what is important to them. By allowing
this, Wachovia will address the customer’s needs, thereby increasing the customer satisfaction
rate, raising brand awareness, increasing the retention rate among college account holders after
graduation and increasing the number of college students that use additional products and
services offered by Wachovia.
       Univation’s campaign plan revolves around the thematic idea of the myWachovia
campaign. myWachovia will allow students and recent graduates to be able to actively interact
with Wachovia as a brand in a way that will appeal to the generational appeals of individualized
customization and portability. myWachovia will help Wachovia stay on not only the edge of the
latest technology, but to also stay a step ahead of the fierce competition in the banking industry.

Problem Statement

          Wachovia Corp. has campus partnerships with 15 universities in the United States in
which it provides a student bank card that also serves as student identification among other
various campus services. One of Wachovia’s premier options which it offers UNC students is
the One Card Plus, which also acts as a credit card in addition to the standard services.
          The Wachovia College Segment branch seeks to strengthen their relationship with
students who are both currently using their campus services as well as with students who will be
graduating and transitioning into the professional world. Wachovia hopes that these students
will have a desire to upgrade their campus banking accounts to regular Wachovia checking and
savings accounts. By forming deep and healthy relationships with students in their transitioning
stages, Wachovia will be able to create and retain lifetime customers.

Target Markets

          Key Market in Context: iGeneration
          It is simply not enough to go about addressing the needs of the key market without first
putting that key market into a broader social context. Sociologists have already begun to name
the demographic born between roughly the mid-‘80s to mid-‘90s as Generation Y1, the
Millennial Generation, the Echo Boomers2, the Net Generation, or the iGeneration. The fact that
Wachovia has also termed this as the Millennial Market indicates a recognition of this changing
market demographic. It is the first generation which grew up experiencing the digital revolution
with PCs, the Internet, gaming consoles, cell phones, and e-mail. As such, many of these
products and services have become integrated into their habits and routines. While numerous
trends and developments can be drawn about the iGeneration, there are two broader concepts
which underlie many of these trends that Wachovia can incorporate: the individualized
customization and mobile portability.

    CBS News. The Echo Boomers. 4 September 2005
    CBS News. The Echo Boomers. 4 September 2005

      Individualized Customization: This is the idea that an individual is able take a product
       or service and turn into being theirs through the ability to customize it to their
       individualized preferences. It allows for the individual to feel empowered over the
       product by being able to interact with the brand and turning it into their product. This
       trend is evident in TiVo, social networking websites such as and,, the iPod, and recently Google’s search engine. offers a variation of this concept in which the website adapts its product
       suggestions to the searching and buying habits of the individual.

      Mobile Portability: This concept has a stronger tie in the technology itself with the
       digitalization of information and goods. Technology has become incredibly mobile and
       has permitted for a greater speed in accessing relevant information. Mobile portability
       represents the ability to gain information at the press of a few buttons of the cell phone or
       laptop. Products can be bought from or without ever leaving the
       household. Homemade videos and TV show clips can be watched from the computer on, or purchased from iTunes. Music is downloaded and stored in portable
       mp3 players through iTunes and iPods. Information about a person’s friends can be
       looked up on the user databases of and And then offers itself as a constantly growing and customizable encyclopedia whose
       information is available on demand.

Undergraduate Students
       The title of this key market is slightly misleading as it does not just entail the framed four
years of the college undergraduates, but also covers what is roughly an eight year gap that aims
for students between the ages of 16-24 years old. Three submarkets have been identified amongst
this overarching market: future college students (ages 16-18), current college undergraduates
(ages 18-22), and recently graduated students (ages 22-24).
   The differences between the three are primarily regarding immediate and short-term
concerns, while the long-term goals are often very similar or the same. Undergraduate students
represent the designated market with which Wachovia college segment seeks to retain and
strengthen their relationship.

Secondary Markets
       Parents: Univation recognizes that parents are an important part in the bank decision
making of students, especially in context of the helicopter parents of the iGeneration, but parents
represent an indirect market for the initial future college undergraduate submarket and not as the
primary target market. But worth mentioning is that if the current iGeneration parents are indeed
‘helicopter parents,’ then information about Wachovia products and services will not just be
filtered from the parent to the student, but also channeled from the students to the parents.
       Universities: For Wachovia, universities represent an intervening market to the primary
undergraduate market. Universities set the boundaries in which banks and other financial
institutions are permitted to interact and be involved with students on campus. As such, it is also
important for Wachovia to improve their relationships with universities as a means of opening
the channels of communication to the students.
       Teens: Teens are another market Univation has identified, but they exist as a potential
future market whose needs are subject to change. These needs are subject to change depending
upon further developments in the digital revolution. So a separate campaign apart from the
college millennials would be necessary if the teens are also a desired market.

The Goal

       Univation’s goal is to strengthen the Wachovia brand in a way that creates a deeper
bond with recent graduates, current students and future students of the participating
universities in order to retain them as lifetime customers after graduation. The goal focuses
on the target audience and on loyalty and retention after graduation. The key is to forge a strong
relationship with the target audience before, during and after college. The goal should be
achieved through objectives, strategies and tactics that are flexible enough to fit with today’s
constant changes in technology, trends and the overall Generation Y culture. Mobility and
personalization is central to Univation’s overall campaign goal. The campaign plan should
appeal to the target audience’s every need. The customer should know that Wachovia is capable

and willing to give them what they want, where they want it, how they want it and whenever
they want the bank’s products and services. This mobility and customization is parallel to the
current technological trend and matches the personal characteristics of the Generation Y culture.
Wachovia should be up-to-date with today and anticipating the future.
       Univation would like to help Wachovia stay ahead of the competition as a top innovator
in the banking industry. Our overall theme of MyWachovia is crucial to the campaign plan and
goal, encompassing mobility and personal customization for the customer, while maintaining
customer satisfaction and service. By allowing the customer to decide what is important to them
through MyWachovia, the company will have addressed their target audience’s every need.

       Brand Awareness

       An increase in brand awareness within the college market is a necessary objective
for Univation’s plan for Wachovia. Competition is intense in the banking industry. The top
banking companies are constantly targeting the college banking segment. Wachovia must
differentiate their communication strategy and their brand to create separation and distinction
among college students as compared to competitors. Increasing the overall brand awareness
will help Wachovia achieve other objectives as well as keep the company ahead in the
competitive race for the college segment.

       Retention Rates

       Univation’s first objective is to increase the retention rate of current college students
after graduation by 25 percent in a three-year time period. Retention rate and customer
loyalty are improvement opportunities for Wachovia. Rather than focus on new customers, the
objective will be on current customers. College students represent a demographic that is the
future of the economy. Loyalty and retention of customers while they are young is important to
Wachovia and to Univation’s campaign plan. The three-year time period parameter is flexible.
It allows for the objective to be achieved in a timely manner. With technology and trends that

are constantly changing, anything more than a three year plan may be obsolete. Keeping
Wachovia’s young customers and developing their loyalty is crucial to our success.

       Products & Services

       Univation also has an objective to increase current college use of additional
Wachovia products and services by 25 percent in a three-year time period. In addition to
developing loyalty, Wachovia wants to increase the use of products and services of current
college customers. As college students mature, they may want their financial accounts to
mature as well. Univation would like to see Wachovia’s college customers upgrade their
accounts and services as well as use their current services more often. The objective is for the
customer to grow with the bank. Again, the three year time parameter is sufficient for the
planning purpose.

       Customer Satisfaction

       Customer satisfaction and service is always a priority for Wachovia. Thus, Univation’s
final objective is to increase the rankings and positive feedback of customer satisfaction of
Wachovia products and services. Customer satisfaction and service feeds into the other
objectives. This objective relates to appealing to the target audience’s wants and needs. As
part of the Wachovia’s main characteristics, customer satisfaction and service is also a major
objective for Univation’s campaign for Wachovia.


          Our entire campaign revolves around a single strategy and the subsequent tactic: To
encourage students to actively interact with Wachovia as a brand through myWachovia.
myWachovia is not just a Web site or a name change, but an entire concept based on increased
portability, accessibility, customization and interaction with the Wachovia brand through a
variety of different and new media. As we have already explained in detail, the target market is
one that thrives on hand-held, portable items and interactive customization. We have found that
the brands that are the most successful today and will be the most successful in the future are
brands that embrace technological advances and active interaction such as Google and
          The new myWachovia brand would center on a new myWachovia Web site launch, Currently, the Web site is a portal site, which means you are immediately
presented with the site menu. There are more than 54 options to click on the homepage which
comes off as overwhelming and confusing3. Further, the aesthetic is boring, unappealing and
incongruent with the overall Wachovia brand. There is very little to distinguish the Wachovia
brand besides the colors and logo. We would like to alter the Wachovia Web site platform so that
it becomes integral to the online banking experience. The Web site should be altered so that
users only receive information relevant to their life stage. A short questionnaire should be
optional when a customer logs on to online banking regarding their financial needs and interests.
This way the main Web site could contain information tailored to each individual customer.
Other strategies, to follow, will be integrated into the Web site. It will highlight the Uncommon
Wisdom Magazine with audio and visual aids. It will also include a “knowledge vault” where
customers can type in common questions to help create a richer fully automated self-service
          When a customer logs in to his account, his experience will be changed dramatically.
Instead of just an area to check his balance or pay bills online, his charges will be divided into
categories like food, school, entertainment, paycheck, etc. through a color coded and customized
labeling system. This will allow customers to create their own budgeting systems and customer


reports and visual graphs from spending pattern data. This will also allow customers to create a
personal budget and manage their money more effectively. For college customers, online
banking will be linked directly to their One Card Plus account to make it easier to transfer funds
from the checking account to the One Card Expense account and will allow students to check the
balance online to see how many meals the students have left.
       We have already found an incredible designer, Dave Werner ( who
redesigned Wachovia’s Web site as part of his graduate thesis. He now works for one of the most
technologically advanced design firms, Frog Design, which is at the forefront of new media and
brand interaction. We highly recommend this firm to create a fully interactive Web site platform.
We also suggest creating a Firefox extension so customers can check their account balance or
budget online with a mere click. The extension would also alert customers to news and changes
in their account every time they are online.
       This new platform and technological advancement will allow us to fulfill many of our
other strategies such as providing forums and means of two-way communication and self-
expression for customers. It is essential to a rich online customer experience that users be able
to immediately respond to Web site updates and business news with questions or just comments
as a form of self expression. This kind of two-way customer interaction will integrate the
personal touch of in-branch banking to the most preferred kind of banking, online banking. We
will create a financial Blog as a way to simultaneously educate customers and illicit feedback
from customers essential to brand success.
       As part of the Knowledge Vault on the Web site platform, customers will also be able to
submit their questions with answers otherwise unavailable online and receive feedback
immediately from a trained financial expert through a live finance forum. Message boards will
also be available for customers to ask questions and enable them to receive responses from other
customers. These programs will be able to integrate the essential component of live interaction
into the Web site platform and myWachovia brand. This will also allow customers a feeling of
ownership which is the cornerstone of myWachovia.
       Relevant transitional products and services will be created as rewards for loyal
students as well recent graduates. Our research has found that students find many of the
products and services offered by Wachovia irrelevant or unappealing in their current life stage.
We have also found that making customers happy in the earliest years of their banking

experiences will increase the likelihood that they will stay with the bank. Additionally, we found
90 percent of students would be more likely to stay with their bank if they were offered loyalty
rewards4, while 63 percent of students felt that sign-up rewards were the least important factor
when choosing a bank5. Students also said that they would be most interested in financial
rewards6. Despite popular belief, students are thinking long-term in many aspects of their daily
lives such as banking. In order to retain students and keep them happy during their college years,
we will work to make it easier for loyal customers—having a Wachovia account for more than
two years with more than $100 minimum balance for more than six months—to transfer money
from other banks. Making it easier for students to transfer money and ensure that their money
will be where they want it, when they want it, we will ensure that students will be content and
secure with their Wachovia accounts.
        Additional loyalty rewards will include low interest rates for student loans, auto loans and
credit cards for loyal college customers. Loyal students and recent graduates will receive a
“grace period” following graduation to pay back student loans. Wachovia already offers zero
fees and Prime Rate interest rates to those students who qualify7; we suggest expanding those
benefits to all students who have been loyal to Wachovia for more than 2 years. We suggest that
students be able to opt for a student loan that does not require immediate repayment after
graduation but rather just garners interest for the years after graduation before repayment begins.
Students will also be able to receive relevant coupons for the places they eat at and shop at the
most. These coupons would be available to loyal students online or via direct mail. Every student
interviewed or surveyed was interested in receiving valuable coupons and they would also help
Wachovia build relationships with local businesses. Students would be able to choose the
rewards they would prefer the most in addition to rewards like giveaways like iPods.
        Using the interactive brand and advanced Web site platform we will also be able to
employ guerilla tactics to sell Wachovia products. Guerilla tactics are essential to this public
relations campaign because the target market is numb to traditional methods of advertising. We
will be able to make interesting and inventive commercials that will only be released on and like Web sites in order to avoid the cost of television production and

  Univation Primary Research. 9 November 2006.
  Univation Primary Research. 9 November 2006.
  Univation Primary Research. 9 November 2006.
7 Retrieved 10 December 2006.

commercial costs, these commercials would also be available via Podcast. We will also use
Podcasts to educate costumers on financial issues. This will be a great venue to showcase a
celebrity expert like Suze Orman and avoid the priority issues of bringing an expert to campuses.
If the Podcasts are successful, we can explore visiting campuses to promote financial education.
           We will also employ new and guerilla tactics on campuses to sell Wachovia products and
Wachovia as a brand. Because part of our overall campaign goal is to be what you want, where
you want, when you want it, our strategies and tactics are not limited to new or even old media.
We want to increase Wachovia’s physical presence on campuses around the country. Such
tactics will include creating a filmmaker competition like the Coca-Cola Refreshing Filmmaker
Award or the competition recently started by Taco Bell. This competition would only be open to
students on the 15 campuses where Wachovia is present. The challenge would be to create a
funny, youthful and homemade student film to advertise the myWachovia campaign. The films
would have a limited release on television but would also be released on, and Students would also receive a meager financial reward and credit.
           As well as saturating the campus and the surrounding area with ATMs, Wachovia will
also pair with University organizations with the similar goals to attract and retain like the
General Alumni Association. Wachovia would be able to include information at GAA events and
in GAA mailings. A One Card Plus Day event will be held off campus for One Card Plus
holders. Wachovia will use their relationships with local business leaders to create a network of
businesses who will give discounts to students one day a month. We will also be sponsoring a
“Free Money” event on campus during homecoming week with a Money Machine available to
students who open savings accounts or apply for Wachovia credit cards.
           In order to fulfill the ever changing needs of myWachovia users, we will need to expand
the availability of Wachovia services to mobile devices. Cell phones and mobile media
players such as iPods and other MP3 mobile devices are extremely popular with the current
college generation. To keep with up with today’s technology and the future of technology,
Wachovia must implement definite partnerships with Cingular, the cell phone provider for the
students of the University of North Carolina at Chapel Hill8. Mobile technology represents a
huge potential market in the future and exemplifies the MyWachovia theme.                   It allows for the
mobile consumer to have what they want, where they want and when they want it. Developing

    Cell Phone Providers. Retrieved 7 December 2006.

relationships and communication to the target audience through mobile technology is crucial for
Wachovia to be competitive and gain an edge against competitors.
        Wachovia should link with wireless technology providers that partner with university
campuses. At the University of North Carolina at Chapel Hill, Cingular is the main cell phone
provider for students. By partnering with a company such as Cingular, Wachovia will be able to
reach a large part of the school’s population. Working with Cingular, Wachovia can develop
technology, such as the ability to check balances through a mobile device such as the cell phone,
as well as downloadable account statements onto mobile devices. Several cell phone companies
are developing enhanced technology on the hand-held devices such as PDA, GPS, multimedia
player, television, wireless and Wi-Fi technology and the increasing use of the Internet9.
        Apple’s I-Pod is the most popular mobile music player in America and especially popular
with the Generation Y culture. Univation would like Wachovia to link with Apple to develop
customized I-Pods deemed MyPod. The MyPod would feature customizable school skins and
cases, as well as preloaded Wachovia media products, such as videos from the guerilla marketing
for YouTube. Wachovia should also work with Apple to develop new I-Pod technology that can
access electronic financial information. Apple’s I-Pod represents mobile media that fit the
MyWachovia themes.
        The development of 3G and 4G technology allows data to be transferred extremely fast
on cell phone networks. 3G has already been developed in the United States and 4G will be
coming in the future. The European and Japanese market are far more advanced with cell phone
technology and already utilize the 3G technology10. People watch television on the cell phones,
play games and use the Internet. Several publications have indicated mobile technology as one
of the major future potential avenues of market development. Wachovia should stay up-to-date
and utilize any possible enhancements in mobile technology to their benefit in communicating
with today’s college generation. With the impending 3G and 4G technology, cell phone
networks and advances will be faster than ever. Therefore, Wachovia must create enhanced

 Future Cell Phone Trends 2005-2010. Retrieved 7 December 2006.
  FutureCell Phone Innovation. Retrieved 7 December 2006.
  Fu Cell Phone Report. Retrieved 7 December 2006.

services in mobile technology such as checking balances and downloadable account statements
on mobile devices. GPS locators can even pinpoint financial centers and ATM machines.
Wachovia should be an innovator in its approach in expanding its reach and communication
effectiveness through integrated mobile technology.
          By anticipating the future in technology, Wachovia will be able to stay ahead of the
competition in communicating with Generation Y. Thus, Univation recommends that Wachovia
develop exclusive partnerships and pursue technological developments in order to communicate
effectively in the future. This will keep Wachovia on the cutting edge as an innovator and
compliant with the technology of today and the future. Developing integrated mobile
technology is crucial in communicating effectively with the university-aged consumer in the


This campaign plan will be evaluated in two ways: (1) short-term progress reports of the
objectives which will show how progress toward the achievement of the objective is checked;
and (2) a long-term measurement of the outcomes of each objective which will explain how the
preferred outcome for each objective is to be assessed. Progress reports will be shown in the
plan under each objective. Measurement of outcomes is described in this section following a
restatement of each objective.

Objective 1: Increase the retention rate of current college students after graduation by
          80% over three years.
          Measurement: Success in achieving this objective will be based on the amount of
          college students that still have Wachovia accounts after graduation. An initial survey of
          Wachovia’s presence on campus will be conducted and checked every six months to
          ensure that more ATMs have been installed and more representatives are available at the
          Wachovia service centers.

       Also a Facebook Webpage will be launched promoting the new on-campus services that
       Wachovia offers. This Webpage will be updated every month to check the number of
       people that have visited the page. This number will be compared to the retention rate and
       the success of the loyalty rewards program 3 years after the plan has been launched.

       A loyalty rewards program will be launched and will be measured by how many students
       who receive rewards actually retain their Wachovia accounts after graduation. This
       number will be checked after graduation in December and May to see if retention rate has
       been increased by 80% over three years after the plan has been launched.

Objective 2: Increase current college use of additional Wachovia products by 25 percent
       within 3 years
       Measurement: Success in achieving this objective will be based on the
       introduction of other financial services provided by Wachovia through financial
       seminars, partnerships with the General Alumni Association and UNC Career
       Services and an update of the Wachovia Website.

       Financial seminars will be evaluated based on the number of participants that attend the
       seminars and if the use of additional products increases relative to the number of
       participants within three months after the seminars have been completed.

       Similarly, partnerships with the General Alumni Association and UNC Career Services
       will be evaluated on the number of participants that attend the events that are co-
       sponsored by Wachovia and If the use of additional products increases within three
       months after the events have been completed, relative to the number of participants.

       An update of the Wachovia Website will be evaluated on the number of people that visit
       the additional products and services sections of the Website. This number will be
       compared to the use of additional Wachovia products and if that number increases by 25
       percent within three years after the plan has been launched.

Objective 3: Increase Wachovia brand awareness within the college market.
       Measurement: Success in achieving this objective will be determined by a
       survey administered to current college students to assess whether the Wachovia brand is
       differentiated from other brands in the college market. Then an annual survey will be
       given to college students to determine if the awareness of the Wachovia brand within the
       college market has increased.

       Success in achieving this objective will also be determined by the accomplishment of the
       Film Maker Competition which will be evaluated based on the number of entries. Once
       the films are released, the number of times the films are viewed on and the
       number of viewers from the Nielson ratings once the winning film has been shown on TV
       will also determine the success of this objective.

Objective 4: Increase by 20 percent the customer satisfaction of Wachovia products and
       Measurement: Success in achieving this objective will be determined by the
       amount that customer satisfaction increases after an interactive website platform
       has been launched.

       An update of the Wachovia Website will be evaluated on the number of people
       that visit the site and an optional survey that pops up when customers log on to
       the Website, after an initial survey has been conducted to determine the customer
       satisfaction rate before the Website has been launched.

Activities                                  Target Execution Date
Research partnerships with GAA and Career                           Feb-07
Services, Cingular, Local Restaurants and
Merchants, Apple Computers
Administer Initial Survey                                           Mar-07
Analyze and Evaluate Survey Results                                 Apr-07
Analyze results of partnership research                             Apr-07
Implement Partnerships                                              May-07
Prepare Publicity Materials                                          Jun-07
Research Design Firm                                                  Jul-07
Hiring Design Firm                                                  Aug-07
Announce myWachovia Plan and distribute                             Aug-07
publicity materials
Implement first phase of MyWachovia plan                            Sep-07
on the 16 campuses (on campus)
Web site development                                                Oct-07
Research Possible Podcast Speakers                                  Oct-07
Annual survey of Brand Awareness                                    Oct-07
Web site Production                                                 Nov-07
One Card Plus Day                                                   Nov-07
Homecoming Booth/ Free Money Machine                                Oct-07
Programs with GAA and UNC Career                                    Nov-07
Sign 3-year Contract with Podcast Speaker                           Dec-07
Check Retention Rate of Wachovia Account                            Dec-07
Implement Second Phase of MyWachovia                                 Jan-08
Launch myWachovia Interactive Website                               Jan-08
Launch of Podcasts                                                  Jan-08
Launch Facebook Website                                             Feb-08
Launch myWachovia Firefox Extension                                 Mar-08
Announce Partnership with local                                     Feb-08
Offer coupons from local                                            Feb-08
merchants/restaurants to One Card Plus

Research student commercial project for                             Mar-08

Check Retention Rate of Wachovia Account                 May-08
Announce MyWachovia Commercial             Summer 2008
Competition for Students
MyWachovia Commercials Due                               Sep-08
Evaluate Successfulness of MyWachovia                    Sep-08
Annual Survey of Brand Awareness                         Oct-08
Homecoming Booth/Free Money Machine                      Oct-08
Announce Winner of MyWachovia                            Oct-08
Programs with GAA and UNC Career                         Nov-08
Check Retention Rate of Wachovia Account                 Dec-08
Broadcast MyWachovia Commercial                          Feb-09
Winner on TV
Implement Third Phase of MyWachovia                      Mar-09
Introduce mypods, podcasts                               Apr-09
Announce Partnership with Cingular and                   Apr-09
Check Retention Rate                                     Dec-09
Check Customer Satisfaction Rate                         Nov-09
Check College use of Additional Products                 Dec-09
Final Survey of Brand Awareness                          Sep-10

Web site costs                                            Unit Costs   Total Costs
Domain name                                                      10           $30
Hosting costs                                                   700        $2,100
Form Fee                                                        200        $2,000
Custom e-mail                                                    25          $125
Design                                                       17,000       $17,000
Copy Labor                                                      250       $18,750
Production                                                      115       $28,750
Functionality/Customization                                  30,000       $30,000
Upkeep                                                        5,000      $180,000
24-customer service                                              85        $3,060
Podcast-Suze Orman                                           45,000       $45,000
24-customer service                                              85        $3,060

                                           MINIMUM TOTAL                 $296,888
                                           STANDARD TOTAL                $329,875
                                           MAXIMUM TOTAL                 $362,863

Filmmaker Competition Costs
Web Site                                                       7,000      $21,000
Promotional Materials                                          1,000       $3,000
Promotional Events                                             5,000      $15,000
Production Costs                                               5,000      $15,000
Advertising Rate (High)                                    2,400,000   $7,254,000
Advertising Rate (Med)                                       150,000    $504,000
Advertising Rate (Low)                                        22,340    $121,021

                                           MINIMUM TOTAL                $169,621
                                           STANDARD TOTAL               $558,000
                                           MAXIMUM TOTAL               $7,313,400

Facebook Corporate Group Costs
Startup & Mantienence                      50,000/month                  $600,000

                                           MINIMUM TOTAL                 $600,000
                                           STANDARD TOTAL                $600,000
                                           MAXIMUM TOTAL                 $660,000

myWachovia Firefox Extension Development                     10,000       $10,000

                                           MINIMUM TOTAL                   $9,000
                                           STANDARD TOTAL                 $10,000
                                           MAXIMUM TOTAL                  $11,000

Buy Market Research into Cell Phone Technology                 12,500       $12,500

                                                 STANDARD TOTAL             $12,500

Conduct Primary Research into Cell Phone
Technology                                                     50,000       $50,000

                                                 MINIMUM TOTAL              $45,000
                                                 STANDARD TOTAL             $50,000
                                                 MAXIMUM TOTAL              $55,000

Money Machine                                                   4,500        $4,500
Money in Money Machine                                         15,000       $45,000
Labor                                                             500        $1,500

                                                 MINIMUM TOTAL              $45,900
                                                 STANDARD TOTAL             $51,000
                                                 MAXIMUM TOTAL              $56,100

Homecoming Booth Costs
Building Costs                                                    1,200      $3,600
Decoration                                                          200        $600
Staff                                                               600      $1,800

                                                 MINIMUM TOTAL               $5,400
                                                 STANDARD TOTAL              $6,000
                                                 MAXIMUM TOTAL               $7,875

Univation Salary Fees                            Hours
Lange, Jessica ($75/hr)                                            108       $8,100
Duckworth, Tyler ($50/hr)                                           74       $3,700
Hunter, Emily ($50/hr)                                              62       $3,100
McAuley, Kimberly ($50/hr)                                          62       $3,100
Zhang, John                                                         65       $3,250

                                                 MINIMUM TOTAL              $19,125
                                                 STANDARD TOTAL             $21,250
                                                 MAXIMUM TOTAL              $23,375

                                                 TOTAL MINIMUM COSTS      $1,203,434
                                                 TOTAL STANDARD
                                                 COSTS                    $1,638,625
                                                 TOTAL MAXIMUM
                                                 COSTS                    $8,502,113


The Echo Boomers
Sept. 4, 2005

(CBS) If you've ever wondered why corporate America, Hollywood, Madison Avenue and the
media all seem obsessed with the youth culture, the answer is simple.

The largest generation of young people since the '60s is beginning to come of age. They're called
"echo boomers" because they're the genetic offspring and demographic echo of their parents, the
baby boomers.

Born between 1982 and 1995, there are nearly 80 million of them, and they're already having a
huge impact on entire segments of the economy. And as the population ages, they will be
become the next dominant generation of Americans.

Who are they? What do they want? As Correspondent Steve Kroft first reported last October,
you'll be surprised.

The oldest are barely out of college, and the youngest are still in grade school.

And whether you call them "echo boomers," "Generation Y" or "millennials," they already make
up nearly a third of the U.S. population, and already spend $170 billion a year of their own and
their parents' money.

Almost none of it is spent on boring things like mortgages and medication, and the world is
falling all over itself trying to sell them things.

What brands do they love? Sony, Patagonia, Gap, Gillette, Aveda.

Only a small percentage are eligible to vote, yet they are already one of the must studied
generations in history -- by sociologists, demographers and marketing consultants like Jane
Buckingham of the Intelligence Group.

Buckingham uses focus groups to gather information for clients such as NBC, Chanel, Nike and
Levi Strauss.

Echo boomers are a reflection of the sweeping changes in American life over the past 20 years.
They are the first to grow up with computers at home, in a 500-channel TV universe. They are
multi-taskers with cell phones, music downloads, and Instant Messaging on the Internet. They
are totally plugged- in citizens of a worldwide community.

Nick Summers of Columbia University and Andie Gissing from Middlebury College in Vermont

are college seniors and editors of their college newspapers. They are both in touch with the echo
boomer ethos.

(Note: Since 60 Minutes first broadcast this story, these college editors have become college
graduates, and Neil Howe and colleague William Strauss have completed another study of the
echo boom generation, "Millennials and the Pop Culture," to be published this fall.)

"I would say that my generation tends to be very overachieving, over-managed," says Summers.
"Very pressured."

"I would agree with that," adds Gissing. "A lot of people work hard or want to do well, I guess."

And it's no wonder they feel that way. From when they were toddlers, they have been belted into
car seats, and driven off to some form of organized group activity. After graduating from
"Gymboree" and "Mommy and Me," they have been shuttled to play dates and soccer practice,
with barely a day off, by parents who've felt their kids needed structure, and a sense of mission.

Dr. Mel Levine, a professor at the University of North Carolina, is one of the best-known
pediatricians in the country. He says it's had as much to do with shaping this generation as

"They have been heavily programmed. The kids who have had soccer Monday, Kung Fu
Tuesday, religious classes Wednesday, clarinet lessons Thursday. Whose whole lives have really
been based on what some adult tells them to do," says Levine.

"This is a generation that has long aimed to please. They've wanted to please their parents, their
friends, their teachers, their college admissions officers."

It's a generation in which rules seem to have replaced rebellion, convention is winning out over
individualism, and values are very traditional.

They are also the most diverse generation ever: 35 percent are non-white, and the most tolerant,
believing everyone should be part of the community.Historian Neil Howe, along with co-author
William Strauss, has made a career studying different generations. Howe says all the research on
echo boomers always reflects the same thing: They are much different than their self-absorbed,
egocentric baby boomer parents.

"Nothing could be more anti-boom than being a good team player, right? Fitting in. Worrying
less about leadership than follower-ship," says Howe. "If you go into a public school today,
teamwork is stressed everywhere. Team teaching, team grading, collaborative sports, community
service, service learning, student juries. I mean, the list goes on and on."

Howe thinks they are more like their grandparents, the great World War II generation -- more
interested in building things up than tearing them down.

"When you ask kids, 'What do you most hope to achieve there?' Where they used to say, 'I wanna

be No. 1. I wanna be the best,' increasingly they're saying, 'I wanna be an effective member of
the team. I wanna do everything that's required of me,'" says Howe.

And you can already see some results. Violent crime among teenagers is down 60 to 70 percent.
The use of tobacco and alcohol are at all-time lows. So is teen pregnancy. Five out of 10 echo
boomers say they trust the government, and virtually all of them trust mom and dad.

Through sheer numbers, they're beginning to change society. They have affected school
construction, college enrollments, product development, and media content. And according to
Buckingham, they are changing the way things are sold, from clothing to cars, because mass
marketing doesn't always reach them.

"They're not watching the traditional networks as much because they have so many choices.
They're playing on the Internet. They're playing videogames," says Buckingham. "They're out
and about, shopping a lot. So, the traditional 30-second commercial isn't always working the way
it was."

They are the most sophisticated generation ever when it comes to media. They create their own
Web sites, make their own CDs and DVDs, and are cynical of packaged messages. They take
their cues from each other. A well-placed product on one of their pop idols, like Paris Hilton or
Ashton Kutcher, can launch a brand of $40 T-shirts and trucker hats. But they also shop at
vintage clothing shops.

Buckingham employs the services of some 1,500 young people scattered around the country, and
relies on their regular reports on what's hot and what's not to keep her and her clients ahead of
the latest trends.

"One of the things with this generation is word of mouth. Buzz is more important today than it's
ever been," says Buckingham. "And that can get started on the Internet. That can get started just
through friends. And it's very hard for a marketer to tap into that unless it's really a product that
they like."

Toyota is already betting hundreds of millions of dollars to try to create that buzz, in launching a
car division aimed exclusively at echo boomers.

"They've affected clothing. They've affected beverage. And now, they're just about to affect the
car business," says Jim Farley, head of Toyota's Scion division.

Toyota is quietly peddling its new $15,000 cars, with air conditioning and power windows, by
sponsoring events like street basketball/break dance festivals, where they always have cars on
hand for people to look at and sometimes even test drive.

"People kind of just stumble on our product, and it's cool that way," says Farley. That's what the
company wants. "This is like regular car companies are on TV. This is our regular activity. This
is how we expose our cars to young people."

Seventy percent of Scion's promotion is being spent on those events. Only 30 percent is spent on
traditional advertising, and much of that is on the Internet, where echo boomers can fill out a
Scion order form, customize their car with 40 different options, and drop off the form at the
dealership without ever hearing a sales pitch.

It's early yet, but Farley says Scion is meeting its sales projections: "I think how we've looked at
it is that we can't afford not to do this."

Echo boomers have their own television network, the WB, and their own stores, with multimedia
presentations and disc jockeys to lure them in the door. It's a generation used to being catered to.

"They are more protected," says Howe. "They regard themselves as collectively special, because
of the time in which they were raised."

Why do they consider themselves special?

"Because they came along at a time when we started re-valuing kids. During the '60s and '70s,
the frontier of reproductive medicine was contraception," says Howe. "During the '80s and
beyond, it's been fertility and scouring the world to find orphan kids that we can adopt. ...The
culture looked down on kids. Now it wants kids; it celebrates them."

Echo boomers are the most watched-over generation in history. Most have never ridden a bike
without a helmet, ridden in a car without a seat belt, or eaten in a cafeteria that serves peanut

"Sometimes, they don't know what to do if they're just left outside and you say, 'Well, just do
something by yourself for a while,'" says Howe. "They'll look around stunned. You know, 'What
are we supposed to do now?'"

They're hovered over by what college administrators call "helicopter parents." Protected and
polished, they are trophy children in every sense of the word.

"Everyone is above average in our generation," says Summers.

"Everybody gets a trophy at the end of the year. It's something you're used to," adds Gissing.
"And you have the rows of trophies lined up on your windowsill, or whatever."

"Parents feel as if they're holding onto a piece of Baccarat crystal or something that could
somehow shatter at any point," says Levine. "And so parents really have a sense their kids are
fragile. And parents therefore are protecting them, inflating their egos. Massaging them, fighting
their battles for them."

Levine, who is considered one of the foremost authorities in the country on how children learn, is
now researching a book on young people entering their 20s. He is concerned that groupthink is
stifling initiative. And because they have always been rewarded for participation, not
achievement, they don't have a strong sense what they are good at and what they're not.

For instance, when a young person shows up for work at his or her first job, what do they expect
and what are they finding?

"They expect to be immediate heroes and heroines. They expect a lot of feedback on a daily
basis. They expect grade inflation, they expect to be told what a wonderful job they're doing,"
says Levine.

"[They expect] that they're gonna be allowed to rise to the top quickly. That they're gonna get all
the credit they need for everything they do. And boy, are they naive. Totally naive, in terms of
what's really gonna happen."

Levine says that is not the only part of their cultural conditioning that's going to require an
adjustment in the workplace.

"I talked to the CEO of a major corporation recently and I said, 'What characterizes your
youngest employees nowadays?'" says Levine. "And he said, 'There's one major thing.' He said,
'They can't think long-range. Everything has to be immediate, like a video game. And they have
a lot of trouble sort of doing things in a stepwise fashion, delaying gratification. Really reflecting
as they go along.' I think that's new."

Levine calls the phenomenon visual motor ecstasy, where any cultural accoutrement that doesn't
produce instant satisfaction is boring. As echo boomers grow up, they'll have to learn that life is
not just a series of headlines and highlight reels.

But this may be something that, for now, echo boomers can deal with.
"What would you call your generation?" Buckingham asked Scott, one of her focus group

"Perfect," he says, laughing.

Frog Design

Dave Werner’s Web site

                            How much do websites cost?
                            by Ross Lasley

                            I recently gave a talk on "What You Don't Need to Know about
                            Search Engine Marketing" (pretty much most of what you read),
                            and had a great time presenting to 30+ people.

                            As usual, I hung around after to chat with folks and answer
                            questions. Some were as you might expect - - the inevitable angst
                            over Google PageRank and the like. The most asked question,
                            though, was: How much do websites cost? I suppose I did mention
                            that KISS's minimum project fee is $5,000, and so, technically, I
                            guess I did bring up that subject myself. In thinking about it,
                            though, this question is awfully common, and some basic guidance
                            is pretty simple to offer.

Here's your handy dandy guide, then, to tell you how much that doggie in the window ought to

1. Price of Admission

It takes three things to make a website - - the domain name, hosting, and, the site itself. The
first two are unavoidable annual expenses. Industry standard price for a domain name is $35
per year. Hosting is priced like a computer - - it is all about component quality and support.
Basic hosting runs around $20 per month, and hosting for more robust sites runs upwards of
$100 per month. Name and hosting, then, have an average annual cost of $275.

2. Design

It's the hardest part to price - - any "print" graphic designer will tell you it is possible to spend
$10,000 on logo development, and lots of people do just that. At the other end of the spectrum,
there are firms like Logoworks that pride themselves on their self-proclaimed "incredible price"
- - $265-$549 complete.

Designers sell time, so the price will have much to do with your pickiness . . . can you describe
what you want, and you simply need someone to draw it for you? . . . . or do you really need a
designer to present "concepts?" . . . and, how many revisions will you require, and . . . well, you
get the point.

A simple site should be in the $500 to $1500 range for design. More robust sites that have
supporting graphics will be in the $2,000 to $5,000 range. "Serious" designs, typically with lots
of supporting elements and large site maps will be in the $5,000 to $15,000 range.

3. Content and Production

Will you be writing your own copy and use your own photos? Decent copy costs about $250

per page, and photographers run about $1,000 per day. Once content is created, you should
expect $75-$100 per produced web page to build.

4. Functionality

Will your site do anything? Shopping cart, mailing list, bulletin boards? Open source software
(what you should use) is generally free or very low cost. You'll need a programmer to
customize it for your particular use and install it on your site, and you should expect to pay
about $100 per hour for that work. A low end shopping cart will run about $500, and heavily
customized carts can run as high as $30,000.

There are some bargains to be had - - PayPal offers a very simple, albeit limited, cart for free;
SourceForge has a long list of free functionality your programmer can download and install for
you, too.

5. Marketing

It costs to get people to your site. Basic submission/optimization, paid inclusions and CPC. Site
submission will run $500 per year; paid inclusions about $1,500 per year; and, CPC, after
you've determined your statistical conversion rate, can run a monthly budget of $500 to
$100,000 (that's no typo, either).

It's simple math, explained in our guide, only with your website, it's calculable to the penny.

6. Make it Better All The Time

Great sites are never "redesigned." They evolve over time, and in small steps. Consulting
reports analyzing site statistics that include action steps for site adjustments can be expensive,
but nonetheless should be planned for in your online business as a percentage of expected sales
- - a site that generates a sale per month needs updating far less than one that makes a sale per
day. At KISS we charge between $2,500 to $25,000 per month for analytics and consulting.

The Totals, then:

      $500 = Do it mostly yourself

      $500 - $2,000 = Basic "brochureware" site, what most local web development firms

      $2,000 - $5,000 = "Serious" brochureware that usually include shopping carts and other
       features, maybe some room for copywriting and photography.

      $5,000 - $25,000 = Usually heavy duty e-commerce, defined as a site with specific sales
       goals in mind when launched. Everything you need, including Internet marketing, is
       usually included.

       $25,000 or more = Income-generating machines with costs calculated as a percentage of
        expected sales. Not your first website, includes all that you need and serious plans for
        ongoing work – this is most of what KISS does.

Nielson Media Ratings

Cartoon Network's ADULT SWIM Ratings Up 25% at 1st Year
September 06, 2002

   Adult Programming Block Posts Double-Digit Delivery Increases Among Key Demos.
  Ed, Edd n Eddy Tops List as Best Weekly Performer Among Cartoon Network Original
Celebrating one full year of original and acquired animation comedies presented specifically to
adults, Cartoon Network's three-hour late-night weekend franchise, ADULT SWIM (Sundays, 11
p.m. - 2 a.m.), posted powerful double-digit ratings and delivery gains across the board versus its
premiere week at this time last year. Among its primary target demo of adults 18-34, ADULT
SWIM ratings (0.5) increased by 25 percent and delivery (244,000) improved by 27 percent.
Additional ratings/delivery highlights touting ADULT SWIM's first-year anniversaryinclude
the following:

       Ratings for men 18-34 (0.5) jumped by 67%, while delivery (133,000) improved by 85%.
       The highest-rated show within ADULT SWIM was The Oblongs (10:30 p.m.), with a 0.7
        rating (up 17%).
       he highest-rated original series with ADULT SWIM was Sealab 2021 (11:45 p.m.), with
        a 0.6 rating (up 20%)
       Ratings for viewers 12-24 (1.1) was up by 38% and delivery (413,000) increased by 57%.

Even household ratings (1.4) saw 40% improvement, while delivery (1,126,000) posted 44%
increases. Friday night's presentation of Cartoon Cartoon Fridays continues to be a ratings
powerhouse for the network, with this week's kids 6-11 rating (4.2) gaining 17% and delivery
(775,000) improving by 23%. A mini-marathon of Ed, Edd n Eddy(8 p.m.-12 a.m.) earned
significant year-to-year ratings and delivery gains across all kids demos, including 112%
growth in tweens 9-14 ratings (3.6) and 124% growth in delivery (673,000). Cartoon
Network, currently seen in 81.9 million U.S. homes and 145 countries around the world, is
Turner Broadcasting System, Inc.'s 24-hour, ad-supported cable service offering the best in
animated entertainment. Cartoon Network's Web site is located at
Keyword: Cartoon Network). Turner Broadcasting System, Inc., an AOL Time Warner
company, is a major producer of news and entertainment product around the world and the

leading provider of programming for the basic cable industry. - RATING PERIOD: 8/26/02 -
9/1/02 SOURCE: Turner Entertainment Research from Nielsen Media Research data. NOTES
All ratings based on coverage homes for the network.

Suze Orman
                   Suze Orman
                   Category: Authors, Economy & Finance, Business Leaders, Inspirational
                              Speakers, Journalists, University Speakers, Women's Issues

                   In brief    AUTHOR, THE COURAGE TO BE RICH

                   Fee Range: $30,001 - $50,000 ( About Fees )

Suze Orman is the author of The Courage to Be Rich, which debuted in the #1 spot on The New
York Times bestseller list after just one week on sale. With close to one million copies in print,
the book was among the top ten nonfiction bestsellers in Publisher¡¦s Weekly¡¦s 1999 hardcover
list. It was also #1 on the Business bestseller lists on The New York Times, USA Today, and The
Wall Street Journal, where it simultaneously appeared on the Journal¡¦s hardcover nonfiction
bestseller list. It also made Business Week¡¦s bestseller list, reached the #1 position on the Los
Angeles Times list, and held spots on the bestseller lists of USA Today, the Washington Post, the
San Francisco Chronicle, the Chicago Tribune, and the Boston Globe.

Suze Orman¡¦s other #1 New York Times bestseller, The 9 Steps to Financial Freedom, was
released in April 1997. The hardcover book currently has more than 2.1 million copies in print
and was on The New York Times list for over eleven months. The #1 nonfiction bestseller on
Publisher¡¦s Weekly¡¦s 1998 hardcover list, the book has been in the #1 position on the bestseller
lists of many major publications nationwide, including The Wall Street Journal, USA Today,
Business Week, The Washington Post, The San Francisco Chronicle, and the Chicago Tribune. It
is currently available in six countries worldwide.

Suze¡¦s first book, You¡¦ve Earned It, Don¡¦t Lose it, which was originally published in January
1995, is currently in its 25th printing and has more than 550,000 copies in print in its combined
hardcover, soft cover, and audio formats. It also made the Business bestseller lists of USA
Today, Business Week and The Wall Street Journal.

Ms. Orman¡¦s two PBS specials, based on The Courage to Be Rich and The 9 Steps to Financial
Freedom, which she wrote, co-produced, and hosted, are among PBS¡¦s most successful
fundraisers ever.

In 1999, Smart Money magazine recognized Suze as one of its top thirty ¡§Power Brokers¡¨ in a
special report that profiled those individuals who most influenced who most influenced the
mutual fund industry and affected our money. She is also the recipient of the 1999 Motivational
Book Award for The Courage to Be Rich from Books for a Better Life, which honors the year¡¦s

most outstanding books and magazines in the self-improvement genre.

Suze Orman is currently a financial contributor to NBC News¡¦ TODAY and a contributing
editor to O, The Oprah Magazine. She also appears regularly on QVC as host of her own
¡§Financial Freedom¡¨ hour. To date, Ms. Orman¡¦s television retailing sales total more than one
and a half million books and audio books, making her QVC¡¦s number-one selling author.

Ms. Orman, a Certified Financial Planner„µ professional, directed the Suze Orman Financial
Group from 1987-1997, served as Vice President of Investments for Prudential Bache Securities
from 1983-1987, and from 1980-1983, she was an Account Executive at Merrill Lynch.

A sought-after speaker, Suze has lectured widely throughout the United States, helping people
change the way they think about money. Ms. Orman, a former contributor to Self magazine, has
been featured in such major magazines and newspapers as Newsweek, The New Yorker, Modern
Maturity, The New Republic, and USA Today. She has also appeared on Dateline, Larry King
Live, CNN, CNBC, Good Morning America, The View, and numerous times on The Oprah
Winfrey Show.

Cell Phone Providers

Why Cell Phones?
Let’s face it: cell phones are just about a necessity in today’s busy world. Whether you use your
cell phone to ask your spouse what to get at the grocery store or conduct international business,
these handy devices have become an integral part of mainstream society.

While there’s no doubt that cell phones are useful, figuring out the best service provider and plan
can be a nightmare. Cell phone providers compete for your business using jargon, and it’s
sometimes difficult to compare rates. They offer different phones and services, so figuring out
which will best suit your needs can be a hassle, especially since most providers want you to sign
a one or two-year contract, which often eliminates the ability to “test” out the service.

In this site, we cut through the jargon and give you simple-to-understand reviews of top cell
phone providers. You’ll also find articles on choosing a cell phone and how to deal with
authorized resellers and recent news stories on cell phone providers to help you make an
informed decision on which cell phone provider is right for you. At TopTenREVIEWS — We do
the research so you don’t have to.™

What to Look for in a Cell Phone Provider
You need a cell phone provider who offers the widest selection of features and avoids hidden
charges and costs. Excellent customer service is also necessary.

Even though each cell phone provider offers many different plans—ranging in price and plan
availability—we found a nationwide plan that was as close to a $39.00 monthly price tag as
possible (some of the providers don’t actually offer nationwide coverage). In addition to this

base price, most cell phone providers offer premium features that only add a few dollars to your
monthly bill.

Below are the criteria that TopTenREVIEWS used to evaluate cell phone providers:

Feature Set – Cell phone providers should include a wide variety of options, including call
waiting, call forwarding, Bluetooth (internet connectivity), text messaging and more.

Service Area On-Network – Service providers should offer extensive coverage areas, including
nationwide coverage. Metropolitan areas should offer exceptional service. All of the cell phone
providers we reviewed offer off-network coverage (which generally extends to cover the entire
continental United States), but this feature often includes additional charges.

Minutes – A good cell phone provider should offer plans with a good minute-to-dollar ratio.
Overage charges should be minimal, and the cell phone plan should offer free mobile-to-mobile
minutes, free long distance and similar features.

Help/Support Options – Cell phone providers should offer extensive support, including phone
support, an online FAQs page, live chat and an email contact address.
Whether your needs are purely personal or business-related, the right phone and plan from the
right service provider will make a world of difference and you can stay in touch.

If you are wondering what kind of cell phone is best for your lifestyle read What Kind of Phone
Do I Need? Or, if you are looking for new provider start by reading our review for Cingular

Cell Phone Story
        - Palm One, Motorola

Your Next Computer
There are 1.5 billion mobile phones in the world today. Already you can use them to browse the
Web, take pictures, send e-mail and play games. Soon they could make your PC obsolete
By Brad Stone

June 7 issue - One hundred nineteen hours, 41 minutes and 16 seconds. That's the amount of time
Adam Rappoport, a high-school senior in Philadelphia, has spent talking into his silver Verizon
LG phone since he got it as a gift last Chanukah. That's not even the full extent of his habit. He
also spends countless additional hours using his phone's Internet connection to check sports
scores, download new ringtones (at a buck apiece) and send short messages to his friends'
phones, even in the middle of class. "I know the touch-tone pad on the phone better than I know
a keyboard," he says. "I'm a phone guy."

In Tokyo, halfway around the world, Satoshi Koiso also closely eyes his mobile phone. Koiso, a
college junior, lives in the global capital of fancy new gadgets—20 percent of all phones in

Tokyo link to the fastest mobile networks in the world. Tokyoites use their phones to watch TV,
read books and magazines and play games. But Koiso also depends on his phone for something
simpler and more profound: an antismoking message that pops up on his small screen each
morning as part of a program to help students kick cigarettes. "Teachers struggle to stop
smoking, too. You hang in there," the e-mail says one day.

Another few thousand miles away, in Frankfurt, Germany, Christoph Oswald is winding his way
through his favorite nightclub, busily scanning for women who are his type: tall, slim and sporty.
The 36-year-old software consultant is doing this by peering into his cell phone. Before he
reaches the bar, Oswald's Nokia starts vibrating, and a video of an attractive blonde appears on
the color screen. "Hi, I'm Susan, come find me!" she says. Oswald scans the crowd and picks out
the blue-eyed financial adviser he'd glimpsed in the video. She has seen his picture, too. The
proximity of their two phones has activated a service called Symbian Dater, which compared
their profiles and decided they were compatible. Soon they are laughing, and Christoph is buying
Susan drinks.

Technology revolutions come in two flavors: jarringly fast and imperceptibly slow. The fast
kind, like the sudden ubiquity of iPods or the proliferation of music-sharing sites on the Net,
seem to instantly reshape the cultural landscape. The slower upheavals grind away over the
course of decades, subtly transforming the way we live and work. The emergence of mobile
phones around the world has been slow but overwhelmingly momentous. AT&T rolled out the
first cellular network in 1977 for 2,000 customers in Chicago. The phones had the approximate
shape and weight of a brick.

Those phones sit in museums now, and half a billion sleeker, colorful new mobile sets are sold
each year. Sales of mobile phones dwarf the sales of televisions, stereos, even the hallowed
personal computer. There are 1.5 billion cell phones in the world today, more than three times
the number of PCs. Mobile phones are so integral to our lives that it's difficult to remember how
the heck we ever got on without them.

As our phones get smarter, smaller and faster and enable users to connect at high speeds to the
Internet, an obvious question arises: is the mobile handset turning into the next computer? In one
sense, it already has. Today's most sophisticated phones have the processing power of a mid-
1990s PC while consuming 100 times less electricity. And more and more of today's phones
have computerlike features, allowing their owners to send e-mail, browse the Web and even take
photos; 84 million phones with digital cameras were shipped last year. Tweak the question,
though, to ask whether mobile phones will ever eclipse, or replace, the PC, and the issue
suddenly becomes controversial. PC proponents say phones are too small and connect too
sluggishly to the Internet to become effective at tasks now performed on the luxuriously large
screens and keyboards of today's computers. Fans of the phone respond: just wait. Coming
innovations will solve the limitations of the phone. "One day, 2 or 3 billion people will have cell
phones, and they are all not going to have PCs," says Jeff Hawkins, inventor of the Palm Pilot
and the chief technology officer of PalmOne. "The mobile phone will become their digital life."

PalmOne is among the firms racing to trot out the full-featured computerlike phones that the
industry dubs smart phones. Hawkins's newest product, the sleek, pocket-size Treo 600, has a

tiny keyboard, a built-in digital camera and slots for added memory. Other device makers have
introduced their own unique versions of the smart phone. Nokia's N-Gage, launched last fall,
with a new version to hit stores this month, plays videogames. Motorola's upcoming MPx has a
nifty "dual hinge" design: the handset opens in one direction and looks like a regular phone, but
it also flips open along another axis and looks like an e-mail device, with the expanded phone
keypad serving as a small qwerty keyboard. There are also smart phones on the way with video
cameras, GPS antennas and access to local Wi-Fi hotspots, the superfast wireless networks often
found in offices, airports and cafes. There's not yet a phone that doubles as an electric
toothbrush, but that can't be far away.

The smart-phone market constitutes only a slender 5 percent of overall mobile-phone sales today,
but the figure has been doubling each year, according to the Gartner research firm. In the United
States, it's the business crowd that's primarily buying these souped-up handsets. "What makes
[the smart phone] so much better than the computer is that it's always with you, always up and
always ready," says Jeff Hackett of Gordon, Feinblatt, an 80-member law firm in Baltimore that
recently started giving its lawyers Treo 600s instead of laptops.

In Asia, it's not the boring professionals driving the newest innovations in the mobile market but
what the Japanese call keitai-crazy kids. Teens sit in Tokyo's crowded plazas, furiously
messaging each other, reading e-mail magazines and playing fantasy games like Dragon Quest.
In South Korea, phones are so cherished by youngsters that in a recent survey of elementary-
school kids, half said they wanted a phone as their gift for Children's Day, a national holiday.
Dogs got 22 percent of the vote, PCs a meager 10 percent. Many Asian phone manufacturers
think the next killer app for all these kids is actually 75 years old: television. In May Samsung
announced it would launch a phone that receives 40 satellite TV stations.

In the near future, at least, new phones won't look anything like PCs. "The industry is figuring
out that a wireless handheld is a different beast," says Mark Guibert, marketing director of
Research in Motion, maker of the popular BlackBerry e-mail device. Mobile-phone watchers say
that handsets in the next few years will pack a gigabyte or more of flash memory, turning the
phone into a huge photo album or music player and giving stand-alone iPods a run for their
money. For several years the industry has also talked about "location-based services," built
around a phone's ability to detect its exact location anywhere in the world. With this capability,
phones will soon be able to provide precise driving directions, serve up discounts for stores as
you walk by them and expand dating services like the one Christoph in Frankfurt enjoyed.

But not all mobile technologists think the ultimate promise of the mobile phone ends there.
Could your phone one day actually perform many of the functions of the PC, like word
processing and Web browsing? PalmOne's Hawkins thinks so. The inventor of the Palm Pilot
and the Treo keeps a desktop PC and a thin Sony Vaio laptop in his office. Yet he waves at both
dismissively, as if they were heading for the dustbin of history. Within the next few decades, he
predicts, all phones will become mobile phones, all networks will be capable of receiving voice
and Internet signals at broadband speeds, and all mobile bills will shrink to only a few dollars as
the phone companies pay off their investments in the new networks. "You are going to have the
equivalent of a persistent [fast] T1 line in your pocket. That's it. It's going to happen," Hawkins

predicts. The computer won't go away, he says, but it might fade to the background, since people
prefer portability and devices that turn on instantly instead of having to boot up.

Defenders of the PC react with religious outrage to this kind of prophecy. Laptops allow another
kind of mobile computing, they point out, particularly with the emergence of thousands of Wi-Fi
networks around the world over the past four years. By the end of this year half of all laptops
shipped will be Wi-Fi-equipped, allowing laptop owners to set up temporary offices in the local
cafe or public park. Then there's the matter of simple practicality: mobile phones are small and
getting smaller. Humans are not. "Hundreds of millions of people are not going to replace the
full screen, mouse and keyboard experience with staring at a little screen," says Sean Maloney,
an executive VP at chipmaker Intel, which is investing heavily in both Wi-Fi and mobile-phone

Yet mobile-phone innovators are working to solve that tricky problem, too. Scientists are
continuing decades of research into speech-recognition systems and have recently introduced the
technology into PDAs. Users can control these gadgets with simple voice commands. Phones
don't have enough processing power for speech recognition yet, but Moore's Law—the
inevitability of annual improvements in computing power—will help phones get there soon,
provided that battery life can keep up. Other innovators are working on improving the keyboard
instead of scrapping it altogether. Canesta, a five-year-old firm in San Jose, Calif., is working on
a product called a "projection keyboard." A laser inside the phone emits the pattern of a large
keyboard onto a flat surface, and the phone's camera perceives the user's finger movements.
Canesta's first products for phones will be available as plug-ins later this year, but one day they
could be cheaply integrated into handsets.

Cell phones aren't likely to take the fastest road to this bright future. Innovation in the mobile
industry is full of zigzags and wrong turns, often because no single company completely controls
the device in your pocket. Carriers like Sprint and AT&T sell the phone to customers, provide
billing and run the phone network; device makers like Sony, Nokia and Samsung design the
phone itself and outsource the actual manufacturing to factories in China. Another challenge is
that, unlike the Internet, the phone world has no open and single set of protocols for
programmers to build around. Software written for one kind of phone won't work on all the
others. The uncoordinated, noncommercial programming that led to the quick evolution of the
Internet hasn't taken hold in the world of mobile phones.

But what if you could sidestep those business barriers and, limited only by your imagination and
by the feasibility of existing technology, design the Phone of the Future from scratch?
NEWSWEEK wondered, and asked Frog Design, a 34-year-old Silicon Valley firm that helps
build phones for companies like Motorola and Nextel, to work on the problem. Over the course
of a month, four professional tech designers produced the specifications for the "petfrog," a
sleek, enticing prophecy of things to come. The phone's touch screen can display any interface,
from keypad to keyboard to mouse pad or game console. A second, higher-resolution screen can
slide out of the unit for video chats and Web surfing. Thin, insertable cartridges can turn the
phone into an MP3 player or a camera, or add extra memory or a large keyboard. "This phone
will be your alter ego," says Frog founder Hartmut Esslinger.

The only drawback is that the petfrog doesn't really exist—yet. But Esslinger says it would take
only two or three years to build. "The challenge is to get companies to think beyond the
boundaries of their businesses," he says. Incongruously, he is demonstrating the petfrog on his
ultra-thin Vaio laptop, exactly the kind of personal computer he believes we will all one day
leave behind. But for now, that doesn't matter. In this vision of the next frontier, we are all phone

Cell Phone Innovation
        - 3G Technology
        - Music Players – Motorola, Sony Ericsson, Nokia
        - GPS
        - Media Center

The Future of Cell Phones
By Chris Nickson
October 24th, 2005

So your cell phone can take and send pictures, even video. You can text message and download
ringtones and games. Maybe you can even watch a little television and do some limited web browsing.
But if you’re a person who’s been using mobile phones for a number of years, you can appreciate just
how far they’ve come since the early days when we carried around bricks in dubiously bright neoprene
covers, and simply trying to get a phone and service required the kind of stringent credit checks
associated with entry to Fort Knox - or being able to rent a video in the early days.

The services available now couldn’t even be imagined by most of us 10 years ago. Nor could the
numbers of people using cell phones, as a generation grows up with them as a normal, essential tool of
life, as much as computers or DVD players.

Perhaps surprisingly, in general the U.S. has lagged behind Asia and Europe in the way its adopted
phones. It’s really only in the last three years that there’s been a huge burgeoning in the numbers using
them, whether on contract or pay as you talk. Nowadays though it seems like everyone has them – and
loves to use them. They’ve become so pervasive that many countries (and a number of states) have
passed laws preventing motorists from using handsets as they drive, creating the eerie hands-free
conversationalist who looks to be talking to himself.

Yes, we’ve come a long way baby, but as far as phone technology goes, the simple fact is that you ain’t
seen nothing yet.

What is 3G?

In Japan, always the leader of the pack, you can have a wrist videophone – about as Dick Tracy as you
can get – watch all manner of television, use your phone for downloading and listening to music and
browse the Web freely. Welcome to the third generation of mobile technology, or 3G as it’s known. Think
of it as the cell phone equivalent of broadband. And it’s not so much the future as the present.

With 3G data can be transferred at rates between 64 and 384 kilobytes per second, a blazing speed
compared to most phones whose transfer speed is slower than the old 14.4 kbps (many services aren’t at
3G yet, but at 2.5G, a sort of interim stage, with transfer of 114kbps). It will create a unified global phone
standard (anyone who’s travelled outside the U.S. with a dual-band phone will understand the frustration
in trying to get your cell phone to work in, say, Europe). But above all, it’s going to transform your phone
into a multimedia center.

3G is already widespread in Japan and it’s hitting Europe (Finland is a leader) and America. By way of
illustration of 3G’s possibilities, British mobile service O2 has replaced its own mobile phone Internet
service which it introduced with a flourish only three years ago for i-mode, from Japan’s NTT DoCoMo –
and this after its O2 Active has been a runaway success, as had Vodafone’s Live mobile Internet service.
But with the ability to access more sites (over 100), more customers will use the service, spending more
money. i-mode currently has about 55 million subscribers in 22 countries. The cost is quite cheap – about
$5 for every hundred pages browsed. But of course you’ll want a new phone to be able to use it fully,
buying into the British love of replacing handsets, which happens on average every 18 months.

PDA's, MP3 Players and Cell Phones Converge

All of this is going to lead to the point where there’s no real line between your mobile phone and your
PDA, or your MP3 player. Motorola has introduced a phone, the much-heralded Rokr, that runs Apple’s
iTunes while Sony Ericsson already has MP3 phones on the market which can hold up to 1500 songs.
Nokia, the world’s largest mobile phone maker, will be introducing music-playing handsets early in 2006,
once of which, the N91, is said to be able to store 3000 tracks – and, of course, these play in stereo.
Some sets even include an FM radio.

Of course, with a phone you have a screen in front on you. Yes, you can take pictures and make them
wallpapers, but that’s not even scratching the surface of the phone’s possibilities.

In America, MobiTV pioneered the idea of real-time television on your cell phone with a service that’s now
available from both Sprint and Cingular (Verizon offers it own service called vCast, which, according to
some reports isn’t real-time). But it won’t be long before you’ll be able to access all the networks and
maybe even cable channels on your phone. That’s the beauty of 3G. Its fast connections make possible
these early steps into what will become commonplace, where the pictures change frames with a much
faster speed. It’s a huge market. One British research firm predicts that in five years, some 125 million
people will be watching TV on their mobiles. By then phones should have, according to scientists, one
megabyte per second access – about four times the speed of most U.S. home broadband services – or
higher, and several gigabytes of memory. Additionally, manufacturers say screens will be larger and there
will also be removable memory, the “smart cards” so familiar to any digicam user – it’s already possible to
put a 2GB memory stick into some of the newer phones. And with Bluetooth wireless technology which
continues to evolve at a rapid pace, you’ll be able to synchronize your phone with your PC.

Games are already a big deal on mobiles, but with 3G you’ll be able to play against someone on the
opposite coast just as you might online, with real-time action and much improved 3-D graphics for
example. Although Sony’s new PSP is trying to position itself as the choice of gamers worldwide, with its
wireless Internet access (and ability to download content – once much content becomes available for the
PSP, that is), it’s likely to face some very serious competition from phones.

And much of this is happening even as you read. America is hot on the heels of the rest of the world in
adopting new mobile technologies. 3G networks are arriving all over the U.S., and by the end of 2006 all
of the major services should have 3G available, although you will need a 3G phone to be able to access
all the services. But soon they’ll be about the only option – unless you choose to be a dinosaur and keep
your old handset.

Throw Away that GPS Device

You’ll also be able to ditch that GPS unit in your car. Your cell phone will be able to act as a GPS (Global
Positioning System) unit. Since 2002 all cell phones have by law, contained a GPS chip so callers could
be located by emergency responders. But only recently has the technology become available to use your
phone as a GPS device. In Europe, Siemens has released a phone the SXG75) equipped with a GPS
module and navigation software, and the Tomtom Mobile 5 Navigation System and Wayfinder Mobile
Navigation System, both with Bluetooth wireless (according to its website, Wayfinder will also work with

some phones in the US), will work in your car on your mobile. In the U.S., Sprint Nextel works with both
Televigation’s Telenav and Motorola’s ViaMoto. Cost? Anywhere from $6-25 a month.

The Media Center Phone

Using your phone as a media center does pose one massive problem. The more you use it the faster the
battery runs down. Battery life is already a major concern for many users in Asia and Europe and it’s
going to become an even bigger issue (the second most important, by the way, was a higher-resolution
camera on the phone, although the Sony Ericcson K750i has a two mega-pixel picture, and a talk time of
nine hours). Consumers have said they want a battery that can last for two days during active use. And
it’s a problem that’s yet to be solved. People want their phones to be smaller and able to do more – the
era of the clunky handset has gone the way of the dodo – but batteries take up room. It’s going to take a
technological leap like the much-ballyhooed fuel cell battery (which is set to debut in Japan next year in
phones by Hitachi and Toshiba), or a large compromise to make everyone happy.

But make no mistake, a solution will be found, and probably quite quickly. After all, there’s plenty of
money to be made in satisfying consumer demand, and that’s a huge driving force in progress as history
has shown.

3G and Beyond

The battery issue is going to be vital for the successful implementation of 3.5G and 4G. That’s right, the
third generation isn’t the end of the road, by any means. Mobile phone operators, networks and
manufacturers are already looking ahead to the rolling of out of the next waves. And what can you expect
there? Well, your mobile will be able to do many of the things you can now achieve online with your
computer, including purchasing items and paying for them, with the phone acting as a wallet. There are
even discussions about Sykpe-enabled cell phones (Skype is the leading VoIP, or Voice over Internet
Protocol, service that allowed you to make phone calls using your computer). 4G should also bring truly
smooth video transmission, even better than you’ll find with 3G, and probably as good as “real” television
– something a few believe will be the killer app for 4G. By the time you’re really comfortable with 3G it’ll
be out of date. And how soon will that be?

Well, the original plan, by NTT DoCoMo was to introduce 4G in Japan in 2010, but that’s been brought
forward quite dramatically, to next year in fact. Depending how that works, it’s quite possible that 4G will
be in global effect by 2009 and 2010. In theory, 4G will allow users to be simultaneously be connected to
several different wireless access technologies and move between them seamlessly (i.e you’ll never know
you’ve switched over) to give the most efficient signal. 4G devices may well use SDR (Software-Defined
Radio) receivers which allows for better use of available bandwidth as well as making use of multiple
channels simultaneously.

In other words, you’ll be able to do even more, even faster. So if you think you (or someone you know)
spend a lot of time on your mobile now, that’s only likely to increase – or so the companies hope.

If all this gives you a shiver of anticipation or a long pause for thought, just consider this – 5G can’t be far

Future Cell Phones Report
        - What to expect, and when?
        - Market Research – $2,995

Table of Contents

      Executive Summary
      About the Data
      Methodologies For Data Collection
      Introduction
      End-Users Look to the Future
           o Checking E-mail Tops List of Non-Voice Apps
           o Once Again, E-Mail Gets High Marks
           o Camera Phones Garner Sizeable Interest
           o Wi-Fi Wins Mindshare
           o Windows on a Cell Phone Stirs Some Interest
           o No Thanks, for Over-the-Air
           o Buying Into Bluetooth
           o Paying for Future Wireless Services
           o What Youth Want
                    Summarizing End-Users
      Future Market Sizing
      In the Labs
           o Case Study: DMB (Digital Multimedia Broadcast)
      Future Designs
      4G
      Service Provider Perspectives
      Summary

List of Tables

      Table 1. Worldwide cell phone shipment forecast, 2004-2009 (Units in Thousands)
      Table 2. Worldwide handset revenue forecast, based on Average Manufacturer Revenue (AMR)
       (US$ in Thousands)
      Table 3. Worldwide camera phone forecast by air link, 2004-2009 (Units in Thousands)
      Table 4. Worldwide smartphone shipments, 2004-2009 (Units in Thousands)
      Table 5. Worldwide Wi-Fi-enabled Cell Phone Forecast, 2004-2009 (Units in Thousands)
      Table 6. Worldwide Camera Phone* Forecast, 2004-2009 (Units in Thousands)
      Table 7. Worldwide OLED Display Forecast, 2004-2009 (Units in Thousands)
      Table 8. Worldwide Rollable Displays on Cell Phones Forecast, 2005-2009 (Units in Thousands)
      Table 9. Worldwide LBS (Mapping) Functionality on Cell Phones Forecast, 2004-2009 (Units in
      Table 10. Worldwide Voice-Activated Cell Phone Forecast, 2004-2009 (Units in Thousands)
      Table 11. Worldwide Fuel Cell-enabled Cell Phone Forecast, 2005-2009 (Units in Thousands)
      Table 12. Worldwide "World" Phone Forecast, 2004-2009 (Units in Thousands)
      Table 13. Worldwide DMB-enabled Cell Phone Forecast, 2004-2009 (Units in Thousands)

List of Figures

      Figure 1. Respondents have practical location services on their minds when thinking about what
       they want from future cell phones, and checking e-mail is close behind
      Figure 2. Checking e-mail ranks highest for what people would like to do besides make voice
      Figure 3. Checking and responding to e-mail topped the list of services respondents were most
       interested in using from a cell phone
      Figure 4. A sizeable number of respondents liked the idea of a cell phone with an integrated
       camera, but nearly as many said it was unnecessary
      Figure 5. Many respondents liked the idea of Wi-Fi access on a future cell phone, if the price
       were right

      Figure 6. Four in 10 respondents were somewhat interested in having a Microsoft-based OS on a
       future cell phone
      Figure 7. Most respondents said 'no' to the idea of buying and downloading small programs over
       the air
      Figure 8. Respondents liked the idea of Bluetooth on a future cell phone, if priced right
      Figure 9. Respondents would be willing to pay less than 25 cents on a per-use basis for new
       wireless services, an indication that end-users expect low prices
      Figure 10. Younger respondents want better coverage and hands-free capabilities on their cell
      Figure 11. World's thinnest flexible active-matrix display using Philips' ultra-thin back plane with
       organics-based thin film transistors, combined with E Ink's electronic ink front plane

Cell Phone Universe

A very different future is calling — on billions of cell phones
In the fall of 1985, I went to Los Angeles to research a story about a new phenomenon called a
cell phone. I got to use one for a day. The phones then cost $1,000 and looked like field radios
from M*A*S*H. Calls were 45 cents a minute, and total cell phone users in the world totaled
200,000. I dialed my mother and said for the first time: "Hey, I'm calling from a car!"

 According to a report, 1 billion cell phones will be sold each year by 2009.
 By Emilie Sommer, USA TODAY

What she probably heard was, "Hey, — calling — om — ar!"

No sane person at the time ever thought these things would become the most significant
electronic consumer device in history. But that's exactly what is happening.

Bigger than television. Bigger than the PC. Bigger than the telephone.

The cell phone's impact will be so huge because — unlike those previous technologies — it's so
widespread. People in developing countries who a decade ago owned nothing more complicated
than a water pump now have cell phones.

At the other extreme, middle-class teenagers in the USA now carry in their pockets a networked
computing and communicating device more powerful than the mainframes that might've run a
good-size company when their parents were the same age.

Last week, Gartner Group put out a report saying that by 2009, 1 billion cell phones will be sold
a year. Not owned. Sold. By then, 2.6 billion people will be using cell phones, Gartner says.

There will probably be a world population of about 6.8 billion in 2009. If you take out the
number of people living in abject poverty, babies, nursing home residents and the Amish, most
everyone who could possibly own a cell phone will have one. For perspective, about 200 million
TVs will be sold in 2005. Almost four times more cell phones — 779 million — will be sold
during the year.

Anything so big and powerful literally transforms society. TVs, PCs and telephones changed
everything from daily habits to the world's power structure.

For instance, once PCs landed in corporate offices, executives no longer relied on the time-
honored practice of buzzing in a secretary several times a day and saying, "Take a letter." That
not only changed a habit, it eliminated a skill (few people do shorthand anymore) and a
profession (try calling your administrative assistant a secretary and see how many teeth you

On the power structure side of things, John F. Kennedy won the presidency because of
television, and TV exposure led to protests that forced the United States to withdraw from
Vietnam. From there, the list of ways TV influenced power goes on and on.

The cell phone's impact will no doubt dwarf that of any device before it.

Some of the early effects are obvious. In my 1985 story, I wrote that "Bill Gates has ordered
Chinese takeout food with his cellular phone while on the way home from his computer software
company," as if it was an exotic luxury on a scale of sightseeing on the moon.

Yet, 20 years later, that level of convenience and flexibility is built into daily life. We just expect
it. And it's only the beginning.

"Perhaps these devices are changing the notion of socializing," says Zach Nelson, CEO of
Internet company NetSuite. He recently went to an Eminem and 50 Cent concert, where Nelson,
a gray-haired baby boomer, no doubt stuck out like a saguaro in Manhattan. He noticed that the
younger folks around him were using their cell phones to text message other people instead of
talking with the friends they came with.

"In my day, socializing was going out to a party to meet people," Nelson says. "Now, socializing
is taking place via networked devices."

It gets weirder where cell phones are more prevalent. "In Korea, there are these raves," says Sky
Dayton, CEO of wireless joint venture SK-EarthLink. "Kids go to an abandoned warehouse, and
they're dancing to music they're each listening to on their own cell phones."

Deep social change can happen because cell phones are now in our pockets all the time. "We're
evolving from a world where the PC was the communications device to one where the cell phone
or PDA is the center of gravity," says Kim Polese, CEO of open-source software company
SpikeSource. These gadgets will alter habits even more as they become the way people listen to
music, get information, blog and pay for purchases at stores.

Neville Street, CEO of text-messaging company Mobile 365, puts it this way: How many
inventions in history have literally become part of your person — something you always have
with you?

Your watch. Your credit card. Your cell phone. That's pretty much it, unless you count tooth

The cell phone is so profound, it's absolutely impossible to comprehend how it will affect us in
the longer run. "Babies will be assigned lifetime 12-digit phone numbers at birth," says Martha
Dennis of telecom investors Windward Ventures. "Money will no longer be used" as cell phones
take over with on-the-spot electronic transactions.

New businesses will pop up, new models for making money, new ways to be entertained, new
definitions of privacy. The Internet was a grand creation. The Internet plus cell phones will be

One amazing thought from 1985: At the time, no one even thought in terms of a personal cell
phone. We could barely conceive of car phones. One expert waxed futuristic by saying that in 10
years, car phones will be as common as stereos and air conditioners in cars today. That's as far as
anyone's mind could stretch.

We're just as limited now when trying to predict the future of the cell phone universe.

Future Cell Phone Trends 2005-2010
Market Research – $3495

Major changes are coming to future cell phones, and end-users will get to decide which trends they
like, and don't like. This new report has the early view of what these crucial end-users think about
what's ahead.

The report also forecasts when the certain trends are likely to take off. You'll find out what to expect
from Wi-Fi-enabled handsets, the latest on fuel cell rollouts, and the shipment picture for TV on
wireless phones.

In addition, primary research shows what end-users think about:
 - Location-based services
 - Phones that act as your wallet for mobile payments
 - Skype-enabled cell phones
 - Growing storage capacity

Plus, there's a brief discussion about what manufacturers and carriers are doing as they prepare for
3.5G and 4G wireless services.

This report is a must-have, if you need to stay on top of important cell phone trends.

Table of Contents

       Executive Summary
       About the Data
       Methodology For Data Collection
       Overview
       End-Users on Future Phones
    o          Motorola Leads Battle of the Brands
    o          Spending Outlook: Modest

    o              Lukewarm Interest in RFID
    o              Input Methods
                          Weak Interest in Stylus Pens
                          Voice Activation Stirs Solid Interest
                          Touch Screens Strike a Chord
    o              Input Summary
    o              Wi-Fi on Handsets
                          Solid Interest in Wireless Fidelity
                          Wireless E-Mail Leads List of Desired Services
    o              Thumbs Down for Broadcast TV
    o              Tepid Interest in Greater Storage
    o              Respondents Cool to Satellite Radio
    o              Megapixel Cameras Generate Moderate Interest
    o              Summary: Storage, Sat Radio, Cameras, TV
    o              Fuel Cell Concept Grabs Attention
    o              Foldable Display Garners So-So Interest
    o              High Negatives for "Wallet" Phone
    o              Mixed Responses to Location Based Services
                          Mapping Service a Solid Bet
                          Solid Interest in Locating Businesses
                          Modest Interest in Finding Friends or Family
                          Wanted: Alternate Traffic Routes
    o              Summary: Location Based Services (LBS)
    o              Keen Interest in Skype-Enabled Phone
    o              Future Phone Opinions By Service Provider
                          Wi-Fi by Service Provider
                          Broadcast TV by Service Provider
                          Fuel Cell by Service Provider
                          "Wallet" by Service Provider
                          LBS by Service Provider
                          Skype-enabled by Service Provider
           Demographics
    o              Occupation
    o              Age
    o              Income
                          Summarizing End-Users
           Future Market Sizing
           In the Labs, or Early Stage
           3.5G and 4G
           Summary

List of Tables

       Table 1. Worldwide handset shipment forecast, 2005-2010 (Units in Thousands)
       Table 2. Worldwide Handset Revenue Forecast, based on Average Manufacturer Revenue
    (AMR) (US$ in Thousands)
       Table 3. Worldwide Voice-Activated Cell Phone Forecast, 2005-2010 (Units in Thousands)
       Table 4. Worldwide Wi-Fi-enabled Cell Phone Forecast, 2005-2010 (Units in Thousands)
       Table 5. Worldwide TV-enabled Cell Phone Forecast, 2005-2010 (Units in Thousands)
       Table 6. Worldwide MP3-playing (and other music file formats) Cell Phone Forecast, 2005-
    2010 (Units in Thousands)
       Table 7. Worldwide Mass-Storage Cell Phone Forecast, 2005-2010 (Units in Thousands)
       Table 8. Worldwide Camera Phone* Forecast, 2005-2010 (Units in Thousands)
       Table 9. Worldwide Fuel Cell-enabled Cell Phone Forecast, 2005-2010 (Units in Thousands)
       Table 10. Worldwide Rollable Displays on Cell Phones Forecast, 2005-2010 (Units in
       Table 11. Worldwide "Wallet" Cell Phone Forecast, 2005-2010 (Units in Thousands)

        Table 12. Worldwide LBS (Mapping) Functionality on Cell Phones Forecast, 2005-2010
    (Units in Thousands)
        Table 13. Worldwide Skype-enabled Cell Phone Forecast, 2005-2010 (Units in Thousands)

List of Figures

        Figure 1. Respondents with Motorola handsets had the greatest interest in buying a phone
    with built-in Wi-Fi capabilities
        Figure 2. Motorola is the leading brand under consideration by respondents for their next
    mobile phone
        Figure 3. The largest group of respondents intends to spend between $50 and $100 on
    their next wireless phone
        Figure 4. Nearly half (47.1%) of respondents were "not very" or "not at all" interested in
    RFID on their next wireless phone
        Figure 5. Enhanced stylus pens generated mild interest with 17.9% very or extremely
    interested in this type of input method
        Figure 6. More than 40% of respondents were either very or extremely interested in voice
    activation on their wireless phones
        Figure 7. More than a third (35.9%) of respondents were either very or extremely
    interested in a touch screen for their wireless phones
        Figure 8. Voice activation was the clear leader among text-input alternatives, according to
        Figure 9. More than 40% of respondents were either very or extremely interested in buying
    a wireless phone with built-in Wi-Fi
        Figure 10. The leading service was e-mail among respondents interested in Wi-Fi-enabled
    wireless phones
        Figure 11. Just 12% of respondents were very or extremely interested in buying a wireless
    phone capable of receiving broadcast TV
        Figure 12. Just three in 10 respondents said they were very or extremely interested in a
    wireless phone that had 1-gigabyte or more of built-in storage
        Figure 13. Just one in five respondents said they would be very or extremely interested in
    buying a mobile phone with satellite radio functionality
        Figure 14. Some 23% of respondents said they would be very or extremely interested in
    buying a camera phone with a resolution level of two or more megapixels
        Figure 15. Greater storage capacity was the highest-ranking technology in this group,
    according to respondents
        Figure 16. Nearly half of the respondents (47.6%) said they were very or extremely
    interested in a fuel cell for powering a depleted wireless phone
        Figure 17. More than a third of respondents were favorably impressed with the concept of a
    foldable display for their wireless phones
        Figure 18. Slightly more than half of the respondents said they were either not very or not
    at all interested in a wireless phone that could be used as a wallet for purchases
        Figure 19. More than half of the respondents were very or extremely interested in a
    mapping service for their wireless phone
        Figure 20. Almost 40% of respondents were either very or extremely interested in a
    location-based service that could locate businesses
        Figure 21. Almost a third of respondents said they were very or extremely interested in a
    service that could find friends or family members
        Figure 22. More than half of the respondents were either very or extremely interested in a
    location service that would help find alternate traffic routing
        Figure 23. Mapping was the leading location service respondents would want on their
    wireless phones
        Figure 24. More than 40% of respondents were very or extremely interested in a Skype-
    enabled wireless phone
        Figure 25. Respondents gave the nod to T-Mobile when asked about buying a wireless
    phone with built-in Wi-Fi technology

        Figure 26. Sprint PCS respondents showed the greatest interest in buying a wireless phone
    capable of receiving broadcast TV
        Figure 27. T-Mobile respondents had the greatest interest in the concept of a fuel cell for
    powering a depleted phone
        Figure 28. T-Mobile respondents showed the greatest interest in a wireless phone that can
    act as a wallet
        Figure 29. Nextel respondents showed the strongest interest in location-based services
        Figure 30. Nextel respondents had the highest interest in a Skype-enable wireless phone
        Figure 31. More than a third of the respondents were in the executive or managerial
    segment of the job market
        Figure 32. More than 60% of the respondents was 45 and above
        Figure 33. The largest group of respondents had an annual pre-tax income between
    $75,000 and $100,000

Cell Phones – Palm of the Future

Could cell phones be the Palms of the future?
By John Borland

Story last modified Wed Jan 02 16:43:56 PST 2002

Wireless phone companies are ratcheting up their ambitions, targeting the market and
customer base dominated by Palm Pilots and their handheld rivals.

Their goals are grounded in new mobile Internet services that allow access to address books,
calendars, email and other features that have formed the cornerstone of Palm's success. If
consumers can use all these features, and make a phone call, many might give up their allegiance
to their Palm organizer, say the most ambitious phone backers.

It's not yet a fair fight. Cell phone screens are tiny and far more difficult to use online than are
Palm organizers. But each device is changing to act more like the other, and some analysts agree
that the two devices will eat into each other's markets as consumers decide they no longer need

"A lot of people will give up something," said Jill House, an analyst with market researcher
International Data Corp. "People will give up the device that never made sense for them in the
first place."

The convergence of Internet features is being driven by an explosion of new technologies from
wireless Internet companies, which are quickly bringing many of the medium's amenities to
mobile telephones--ranging from e-commerce to portal services like address books, calendars
and email.

Analysts predict that the number of wireless Internet devices, including cell phones and handheld
computers, will pass up the number of PCs sold in the next few years.

Americans are catching the overseas craze for basic mobile phone service, however. More than
74 million cell phones are in use in the United States today, a figure that will rise to more than
139 million by 2003 according to International Data Corp.'s (IDC) most recent estimates.
Worldwide, analysts expect more than a billion cell phones to be in use in just a few years.

By contrast, IDC says that fewer than 10 million people in the United States use Palm Pilots or
other handheld computers. By the year 2003, the company predicts that about 89 million
"devices"--a category including handhelds, set-top boxes and the popular game consoles--will be
sold. That's a telling statistical gap for some analysts who see the balance tipping slowly toward
the cell phone companies.

The newest 3Com Palm VII is priced at about $499, while the Motorola Timeport P8167, one of
the newest Web-surfing phones, is priced at $300. Both these products are among the highest-
end products in their markets.

Few people use wireless Net services in the United States, however. The technology industry is
pouring funding and talent into the wireless sector on the assumption that people will adopt the
wireless Net over the next few years. Wireless Web proponents point to strong demand in
Europe and Japan. But in the United States, they're still working largely on faith.

The most advanced Web and wireless companies aren't waiting for the market to develop. The
big portal services such as Yahoo and America Online already have developed personal
information services that fill much of the niche occupied by Palm and other organizers, and are
making them available over wireless phones.

These companies are also playing both sides of the fence, as evidenced by Yahoo's move to
populate Palm devices with its technology this week.

Alternatively, unified messaging company Onebox--recently purchased by
a version of its service that connects voice mail, email, address books and calendar features to
the live calling features of wireless phones. already has relationships with most of the
largest wireless carriers in the world, and hopes to make this set of features a basic component of
wireless services from the likes of Sprint and British Telecommunications.

"This gives us what we need to allow the carriers to take on the Palm," said Vinod Valloppillil,
wireless product manager for Onebox.

Wireless Web access also forms the core of new strategies at Palm and rival Handspring, and
executives at both companies say it is much easier to read documents or actual Web pages using
their systems.

The mobile phone manufacturers are doing their own part in an attempt to wrap voice
communications and the Net together, trying to please both sides of the market. Several of the
biggest companies have created devices that are half phone, half Palm-style organizer.

Qualcomm's pdQ and the Nokia 9000 currently lead this market. Nokia and Motorola, among
others, have licensed the Palm operating system for new crossover devices, giving that handheld
company a foothold in the cell phone world.

The two-in-one phones haven't sold particularly well, however, and analysts haven't been

"There's a reason that approach hasn't appealed to consumers," House said. "It looks like you
smacked two things together, and you're holding it together with a rubber band."

Will consumers ultimately choose sides and pick either the Palm organizer or the cell phone?
Most say it's not that simple. Analysts expect many people to keep one of each, using the
organizer for data-heavy applications and the phone when they need to talk.

"I think it's a mistake to think that end users will want a device that does everything for them,"
said Jane Zweig, executive vice president at Herschel Shosteck Associates, a wireless consulting
firm. "I'm not sure people are willing to trade the small size of a phone for that much extra screen

But for the many people who will balk at having two devices that offer essentially the same set
of features, the manufacturers are creating a range of devices that will fall more squarely into the
phone or organizer category, without the awkwardness of trying to be both. Customers will
simply select the one that best fits their needs for voice or mobile Web services, the companies

"There's not going to be just one way of doing this," said Alan Kessler, chief operating officer
for platform and product issues for Palm. "It's not going to be one or the other."

Future Cell Phone Article
        - Nokia World’s Number One Cell Phone Maker

A Quantum Leap for Cell Phones
  A new no-buttons handset by Pilotfish and Synaptics signals that mobiles as we know them may
                                   soon be a thing of the past

It's likely to evoke the children's song inquiring, "Where's the button?" On Aug. 21, designer
Pilotfish and sensor maker Synaptics are releasing a prototype of a cell phone, and the funny
thing is, it doesn't have any buttons.

Instead, the Onyx device understands signs and gestures, thanks to the sensitive touch pad

covering most of its surface. It opens and closes applications when swiped by one or two fingers.
The phone recognizes shapes and body parts. Lift Onyx to your cheek and it will pick up a call.
"The goal of this concept was to show people a completely different way of designing and
making a phone," says Mariel Vantatenhove, senior product line director at Synaptics (SYNA ).
"We think that the market is ready for some sort of change." A sea change is more like it.

The cell phone as we know it—mostly those snap-shut clamshell types or the flat, rectangular
candy bar devices—are in for a major makeover. Or so it seems from the barrage of prototypes
from individual designers, boutique firms, and even large technology companies in recent

SLAVE TO FASHION. Earlier this year, Nokia (NOK), the world's No. 1 cell-phone maker,
worked with 25 British college students to prototype their cell-phone visions. Among them: a
cell-phone necklace whose beads light up to signal an incoming call and an origami-like cell
phone. Then there are the outlandish designs already on the market. For instance, consumers in
Japan carry mobiles reminiscent of macaroons and cakes.

Mobile-phone makers are increasingly having to take cues from peers in the fashion industry. In
mid-2005, the average person bought a new cell phone every 18 months. But by May of this
year, the cycle had shortened to 17.6 months, according to a J.D. Power & Associates survey of
18,740 consumers. "Cell phones [are becoming] so increasingly personal, they tend to be a slave
to fashion," says Richard Doherty, director of consultancy the Envisioneering Group. "And the
fashion cycle for clothes is one season."

Recognizing this trend, CTIA, an association of wireless companies, has come to host "Fashion
in Motion," a runway show for fashion couture, at its annual conference. The winner of this
year's first-ever $10,000 CTIA scholarship for a ""Fashion in Motion" product, Manon
Maneenawa, designed the Triple Watch Cell Phone, a mobile that can be reassembled into a
wristwatch or an alarm clock.

PURPLE POWER. Indeed, future cell phones may be closely linked to users' lifestyles and
interests, such as gaming, politics, and college sports, says Doherty. Japanese consumers can
already buy waterproof phones for use in the shower. And Motorola (MOT ) designers are
looking to "humanize" phones by letting the devices read users' emotions, says Jim Caruso,
senior director of operations for consumer experience designs for Motorola phones. For instance,
the phone might light up in a purple color when a loved one calls (see,
7/26/06, "Motorola Shows Its Mojo").

These shifts in cell-phone usage are forcing handset makers to rev up their design engines. In
2005, up-and-coming cell phone manufacturer Pantech hired 11 renowned industrial design
firms, including San Francisco-based Lunar Design, to brainstorm some 80 cell-phone concepts
to inspire its internal designers. Each firm was flown to Korea for presentations. What kinds of
designs did Pantech get? Lunar developed a handset that can swivel around into an easel-like
position. The easel's front is taken up almost entirely by a display, used for watching video or for
typing via an accessory keyboard.

The coming revolution is likely to engulf industry giants and boutiques alike. One outfit,
Switzerland-based GoldVish, will debut its mobiles for the über-rich on Sept. 1 at the Millionaire
Fair, a lavish event showcasing luxury goods like Rolls-Royce cars. GoldVish's cell phones were
created by Emmanuel Gueit, a watch and jewelry designer whose credits include items for Harry
Winston. The phones start at $24,500 and go to $1.26 million apiece. The company's most
expensive device, fittingly named "Piece Unique," is handmade of solid gold and studded with
diamonds. Press a precious stone to open a secret compartment that can be used to hold medicine
or other valuables. "It's a jewel you can communicate with," explains GoldVish CEO Michel

NIFTY NICHES. GoldVish and many other niche makers believe that as phones become an
integral part of fashion, limited-edition designers will carve out a slice of a market dominated by
Nokia, Motorola, and Samsung (see, 8/3/06, "Nokia's Magnificent Mobile-
Phone Manufacturing Machine").

GoldVish's research indicates that more than 15% of cell-phone users would like to have a more
luxurious phone. In the next few years, the upstart hopes to grab 2% of the $134 billion cell-
phone market, Morren says. GoldVish is already ramping up operations in Europe and Asia, and
by the end of 2006, expects to open offices in New York, Miami, and Los Angeles. Even Nokia
has come out with a gold-plated model.

For a phone that's unique but won't deplete your Swiss bank account, Spark Fun Electronics last
August introduced cell phones that look deceptively like old-fashioned rotary-dial phones (they
even emit the same loud ring). So far, the Boulder (Colo.) company has sold 30 units. "You can
take them to bars, they are so much fun to show people," says Nathan Seidle, the company's 24-
year-old CEO. "A lot of people have put them into old, retro cars. People have gotten them for
seniors, who don't really like cell phones because they can't see the numbers."

"NOT A CELL PHONE ANYMORE." New technologies drive many of the new designs. One
example: Synaptics ClearPad, a new type of touch screen that will become commercially
available later this year. Unlike today's touch screens, which aren't entirely transparent and often
not very sensitive—we've all had to endlessly tap one with a stylus to get a response—ClearPad
is clear, so it can be used as a sensitive overlay to a cell-phone display. Another innovation likely
to change the cell-phone's appearance: flexible displays. An electronic ink screen prototype,
developed by Koninklijke Philips Electronics and startup E-Ink, is thin and flexible like paper so
it can be worn wrapped around a cell phone. Users can unwrap it to view a map on a larger
screen. Eventually, the display could be used to watch video.

These designs are just the tip of the iceberg of the ideas floating around for a cell-phone
makeover. As Brian Conner, a designer at Munich-based Pilotfish, says, "You can either design a
chair, or an object to sit on. You can design a communications device, or a cell phone." Looking
at Onyx, he says, "It's not a cell phone anymore."

Primary Research Appendices

Focus Group Executive Summary
Focus Group #1-Current College Seniors
Focus Group #2- Current College sophomores and juniors
In-depth Interviews Series #1-#2

Focus Group #1 Executive Summary
Background Information
        The purpose of the focus groups is to get direct feedback and opinions that could shape
the direction for Wachovia’s communication strategy and other research toward retaining and
upgrading the accounts of college customers that are graduating or have recently graduated.

The focus group has several objectives:
    To determine the top concerns for college seniors.
    To understand focus group participants’ experiences, knowledge and opinion of current
       Wachovia services.
    To assess current awareness levels and brand perceptions.
    To determine the amount of general knowledge of banking and financial services current
       students have and gain feedback on what they would like to know more about

The first of three focus groups was conducted on the evening of September 27, 2006 in the
conference center between Winston and Connor dorms on the UNC-Chapel Hill campus. The
group lasted approximately one hour and was videotaped for note-taking and transcription
purposes. Free pizza and refreshments were offered as incentives to participants.

The group was comprised of current college seniors who had either a Wachovia account or a
Wachovia One Card Plus account. All participants were seniors who will be graduating in May
of 2007. Five students arrived to participate in the study.

Very little criteria were used to screen participants. Although the group was small, they were
diverse in gender, race, major, and future goals (Appendix A). All participants were 22 years old
and currently seeking their bachelor’s degree. The majors of participants varied from Music to
Asian studies and Biology. Three students had Wachovia accounts but banked primarily with
another bank.

Key Insights
    Participants only researched their bank if they had problems or if they require new
      products or services, i.e. a credit card.
    Participants were concerned about financial education information would be skewed
      towards a particular institution or to sell more products or services.
    Participants are interested in receiving rewards for loyalty. For example, they would like
      to receive coupons to restaurants or stores you shop at the most.

      Participants would have been interested in an iTunes reward, but they were not aware of
       the promotion.
      Participants prefer direct mail, but they admit they don’t receive or read the direct mail
       sent to them.
      Current advertising techniques are not reaching these participants, suggestions were to
       advertise on the UNC Web site, or student central during course registration.
      Participants were particularly interested in help with graduate school such as low interest
       loan rates or a “grace period” for student loans.

Focus Group #1 Transcription
    Participants: UNC Seniors
    Moderator: Jessica Lange
Background Information
      The purpose of the focus group is to get direct feedback and opinions that
could shape the direction for Wachovia’s communication strategy and other research
toward retaining and upgrading the accounts of college customers that are graduating
or have recently graduated.

The focus group has several objectives:

    To determine the top concerns for college seniors.

    To understand focus group participants’ experiences, knowledge and opinion
     of current Wachovia services.

    To assess current awareness levels and brand perceptions.

    To determine the amount of general knowledge of banking and financial
     services current students have and gain feedback on what they would like to
     know more about

The first of three focus groups was conducted on the evening of September 27, 2006
in the conference center between Winston and Connor dorms on the UNC-Chapel
Hill campus. The group lasted approximately one hour and was videotaped for note-
taking and transcription purposes. Free pizza and refreshments were offered as
incentives to participants.

The group was comprised of current college seniors who had either a Wachovia
account or a Wachovia One Card Plus account. All participants were seniors who will
be graduating in May of 2007. Five students arrived to participate in the study.

Very little criteria were used to screen participants. Although the group was small,
they were diverse in gender, race, major, and future goals (Appendix A). All
participants were 22 years old and currently seeking their bachelor’s degree. The
majors of participants varied from Music to Asian studies and Biology. Three students
had Wachovia accounts but banked primarily with another bank.

Key Insights
    Participants only researched their bank if they had problems or if they require
     new products or services, i.e. a credit card.

    Participants were concerned about financial education information would be
     skewed towards a particular institution or to sell more products or services.

    Participants are interested in receiving rewards for loyalty. For example, they
     would like to receive coupons to restaurants or stores you shop at the most.

    Participants would have been interested in an iTunes reward, but they were not
     aware of the promotion.

    Participants prefer direct mail, but they admit they don’t receive or read the
     direct mail sent to them.

    Current advertising techniques are not reaching these participants, suggestions
     were to advertise on the UNC Web site, or student central during course

    Participants were particularly interested in help with graduate school such as
     low interest loan rates or a “grace period” for student loans.

       Please note that the transcripts begin after the focus group was initiated because of
        technological difficulties

Financial Literacy
Q: Do any of you consider yourselves to be particularly financially literate?
Participant 1: I plan on getting financially literate
Moderator: How do you plan on getting financially literate?
Participant 1: I know I want to invest and diversify my funds and put a little money everywhere,
I guess that also I’m a little different than other people my age because I’m married and I’m
looking for something a little different, just trying to diversify my funds.
Participant 2: I’ve talked to a friend of mine who knows about stocks, I might put some money
in there so that if I lose it, I can still live. Try to get grants for grad school, so I can have the least
amount of loans as possible and try to work out something so that I can be a TA and have my
tuition waived or something.
Participant 3: I feel pretty confident, but you could always learn a little bit more.
Participant 4: I feel like I need to learn more about it, I feel like I don’t know anything.
Q: Do you feel your bank should participate in helping you become more
financially literate?
Participant 1: Yes I think so, it depends on what the average person says, a lot of people
especially those in college invest if the their parents invest, and my parents don’t do any of that,
and if I want to know anything I have to go find out on my own and a lot of us we all have bank
accounts, so they could make us more knowledgeable about our options.
Participant 2: I don’t think that the bank is responsible for telling us, but I think they’re
responsible for making sure they have the information available should we seek it out.
Participant 3: I don’t think it would be a bad idea
Moderator: To have the information available?
Participant 3: Yeah.
Participant 4: I’d like to have the information as long as it wasn’t skewed or they added more to
it for them to make more money

Products & Services
Q: What beneficial services could a bank offer to you after graduation that would
help to assist you in that transition from college student to getting a job or going
on to higher education?
Participant 1: Allow me to keep some sort of account where it’s O.K. for me to have a zero
Participant 2: Definitely agree with that one, offer workshops for how to handle loans, what all
the terminology means
Participant 3: Really low interest loans, and free checking accounts or something
Participant 4: Free checking account
Q: Do all of you have at least one primary bank account or do you have other
accounts open.

Participant 1: I did I used to have an account with BB&T and Wachovia and eventually I closed
the account with BB&T and transferred the money over to Wachovia, and now I just have the
Wachovia account and a savings account.
Participant 2: I just have Wachovia, savings and checking.
Participant 3: First Citizens is my primary account and I also have Wachovia.
Participant 4: I have a checking and savings with BB&T and a student account with Wachovia,
if I should ever decide to use it.

Parental Influence
Q: Do you know which bank your parents use?
Participant 1: My mom was with BB&T when she was in North Carolina, then she moved to
New York and I don’t know what bank she’s with now.
Participant 2: My parents both use Wachovia.
Participant 3: I think Piedmont Federal and BB&T
Participant 4: My parents both have BB&T.
Q: Do you feel like your parents have an effect on where you decide to bank?
Participant 1: Definitely, as soon as I was old enough to get an account, I think I was 18, to get
an account on my own, I saved my money and my mom took me to the bank she banked with.
Participant 2: Yeah that’s what I did
Participant 3: Initially, then I changed.
Moderator: Why?
Participant 3: Because they have these little books for your savings account and you couldn’t do
anything if you didn’t have the book with you, you couldn’t deposit anything.
Participant 4: I started banking at BB&T because I had an account there before I started going

Bank Relationship
Q: If you researched other banks how did it compare to the banks that you
currently bank with?
Participant 1: I looked for free checking, and right now I have a credit card so I’m looking for
low interest rates and that’s what I’m worried about right now.
Moderator: And you said that you’re married, so are you looking for houses, or looking at
Participant 1: Yeah, we’re looking at that stuff too, but we’re waiting until I graduate.
Moderator: So has Wachovia been helpful with any of that stuff?
Participant 1: We haven’t even gone through Wachovia because he has a different bank and I
have a feeling that after I graduate I’ll be switching to his bank.
Moderator: What bank does he have?
Participant 1: Fort Bragg Federal Credit Union in the military.
Participant 2: I haven’t really had any problems with it, so I haven’t researched anything.
Participant 3: As of right now, primarily I’m looking at credit cards and checking accounts
Participant 4: I’m really happy with my bank.
Q: What do you want from your bank, the top three most attractive characteristics
of a bank that would make you choose you bank today.

Participant 1: When I researched banks for credit cards I looked at Washington Mutual and they
put money into your account for each of the purchases you made, and that was appealing, but I
didn’t end up signing up with them because I went with another bank that had a lower interest
rate, and that’s important tome right now.
Participant 2: If they’re friendly, I don’t want people who are rude or frown all the time. I want
someone who is going to try and help me get my problem solved or help me decide what bank I
want to go with. Someone to help me maneuver, easy to get my questions answered.
 Participant 3: Customer service is really important and online banking, and programs they have
like free checking.
Participant 4: I would say online banking, putting my money in right when I deposit it, and
Q: Are you satisfied with your current bank? Do those banks have those
Participant 1: As of right now yeah, Wachovia provides all I need.
Participant 2: I’m satisfied with Wachovia
Participant 3: I think First Citizens does a good job with that. I don’t think Wachovia has very
good customer service.
Participant 4: I agree I don’t think Wachovia has good customer service.
Q: Do you feel your bank will still satisfy you after graduation, as you transition
to the next part of your life?
Participant 1: I’m pretty sure that it will
Participant 2: I have no idea; I’ll have to find out when I graduate.
Participant 4: As long as I don’t move out of state.

Q: Do you like receiving mail pieces from companies?
Participant 1: Not really, it kind of clogs up. I don’t mind if a little piece of paper comes in my
bank statement or something like that.
Participant 2: I don’t like it either; Usually I don’t get anything out of it
Participant 5: I don’t like a lot of junk mail, but sometimes I don’t mind
Participant 3: I don’t usually look at that stuff that comes in the mail.
Participant 4: I usually just throw that stuff away.
Q: Do you get a lot of mail pieces, and do you feel that there is a better way to for
your bank communicate with you?
Participant 1: I don’t want to say email. I feel like with banks, if I need an account I’ll go to
them, and if I need something else I just go to them.
Participant 2: If the bank sends me something like hey we have this new feature, then yeah, but
otherwise than that just send me my statements.
Participant 5: If they had to communicate with me, the best way is through mail I delete a lot of
emails that look like spam, even if it says it comes from somewhere important.
Participant 3: Just put the information on the website and I’ll just look at it.
Participant 4: Yeah put it on the website because I look at my online banking everyday.
Q: Do you visit your bank’s website a lot, do you find it helpful? Are there things
your bank could do to improve their website or make it more applicable to you?

Participant 1: I visit the online banking site weekly and check my account balance, but I don’t
really look around the site for more information.
Participant 2: I feel that they have very helpful information on their website, but the thing with
online banking is that if you don’t log on in a while, your password doesn’t work anymore, so
right now I can’t access online banking and I didn’t know they were going to do it. So an email
warning would be very nice.
Participant 5: I use online banking to check my account and make sure that I’m the only one
using my bank card and check my balance, but that’s the only time I use the website.
Participant 3: Mine’s pretty good I don’t do anything with it.
Participant 4: I like it, it updates pretty quickly.
Q: If there was a website designed for Wachovia college accounts, would you visit
that? Would you feel that it would be more applicable to you?
Participant 1: I feel that the only way that I would visit the website is if I had to access my
online checking through the website. If was in addition to the regular website I wouldn’t see
myself visiting it.
Participant 2: If I had a one card plus and it had my account on there with flex, dining, and
expense I would visit it.
Participant 5: As it is I don’t think it’s needed, but if there’s extra information on the site, the
more the better.
Participant 3: I might check it out.
Participant 4: I might, I don’t really use my Wachovia account.
(Four out of the five participants have one card plus)

One Card Plus
Q: If you have a one card plus, why did you get it, do you use it? If you don’t use
it, why not? If you don’t have one, why didn’t you get it?
Participant 1: When I first came to college I had BB&T, and when I was a freshman I couldn’t
drive and BB&T was in the Netherlands compared to where I was. Wachovia was more
accessible from campus.
Participant 5: It’s very convenient, it’s and ATM and Debit card, like a free way to access my
Participant 2: I didn’t get one because if I lose it I won’t have to go through the university and
the bank to get another one.
Participant 3: I don’t use it because I prefer First Citizens
Participant 4: Initially I got it because they push it pretty hard at freshman orientation and it has
your picture on it so you don’t have to present your I.D., but my parents don’t have Wachovia
where they live so when I need money I have to get a check from them and Wachovia holds it for
two weeks, which is an issue with me having money, so I stopped using them.
Q: Do you plan to bank with Wachovia after graduation?
Participant 1: I’m not opposed to banking with Wachovia after graduation. I didn’t think too
much about switching, I’ve had them for 4 years, I’m use to them.
Participant 2: I’m pretty happy
Participant 5: I think that I’m going to stay with Wachovia until my employer presents me with
a better option or if I move to a place where Wachovia isn’t as convenient, but until that point,
I’ll stay with Wachovia.

Idea Generation
Q: What would Wachovia have to do to entice you to bank with them after
Participant 3: Work on their customer service, and offer some really great deals, like some really
great interest rates.
Participant 3: give me my own personal person to talk to at the company who was nice and were
on call.
Q: What role or relationship should banks should have with you?
Participant 2: They should be off in the background and be there when I need them.
Participant 5: It depends on what I’m looking for. I’m also with State Employees Credit Union,
because of the interest rate. Have opportunities for me for investment.
Participant 3: Just handle my money
Participant 4: Just handle my money and be nice to me when I come in and smile at me.
Wachovia wasn’t really nice to me at any of the branches I’ve been too.
Q: What do you think about a graduation gift from Wachovia? Would that entice
you to stay after graduation?
Participant 3: Not like a drawing, or something, I need something more concrete
Participant 1: If they said we’re going to pay you $25 and put it into an account, I’d stay.
Participant 2: If they were nice and recognized that I’m going to grad school and offered me low
interest rates on loans then I’d stay.
Q: What if the Wachovia website was like and personalized to things
you like? Would that entice you?
Participant 1: Maybe if when you go to your online account and it asks you the top five things
that you like, then maybe it would know and reduce the junk you get. I might go, but I’m still
sticking with the fact that in order for me to go to the website it needs to have my online banking
account on there.
Participant 2: I would be more inclined to stick with them.
Participant 5: If it was easy to use and applied to me, then I would be more likely to go to that
site than the other regular site.
Participant 4: I would be interested if it applied to me.
Q: If Wachovia sponsored on campus financial education seminars, so that
students are more familiar with the terminology and things like that, would that be
something you would be interested in?
Participant 1: yes I would go
Participant 2: yeah if they had a seminar on financing grad school I would go.
Participant 5: I think financing is a very important part of the educational experience of going to
grad school and its difficult to get help with that from people who really know what they’re
talking about. If the bank is going to help me with that then I’d be interested.
Participant 4: I’d be interested if it’s on finances in general and not on this is what our bank
could do for you.

Q: We’ve been looking at competitor’s offers Bank of America gives money to
those who sign up and extra money if their friends sign up put their names on the
application. Would that be something that would entice you?
Participant 1: That would entice me
Participant 2: I would probably sign up and just let the money sit in there and forget about it. I
would keep it active if they offered me better stuff than Wachovia, I would consider switching.
Participant 5: I think it all comes down to rates, I would just sign up for the $50 and just close
the account afterwards and switch to the bank with the better rates.
Q: Last year Wachovia did a cross promotion with I Tunes, can you think of an
organization or reward that would be enticing enough to make you stay?
Participant 1: Anything dealing with money.
Participant 2: If they actually let people who are members do the I Tunes thing, like if I got 10 I
Tunes per year, I would definitely stay.
Participant 5: Maybe people who stay members get a coupon card and a list of businesses in
their area who are members of this group and it promotes local business and you get a discount
by shopping at their store.
Participant 4: I Tunes are really popular, but I didn’t hear about it at all.
Q: What would be a good way to get that information to you?
Participant 1: Commercials
Participant 2: I get mail from Wachovia, and if it’s about some promotion then I’m likely to read
Participant 5: If it’s slipped in there with my bank statement, then I might look at that
Participant 4: commercial or advertisements on the top of the website like a banner
Moderator: What about if they advertised on facebook or myspace?
Participant 1: I think it would because a lot of students are on myspace and facebook, and if they
advertised on there it would be more successful.
Participant 2: If they had an ad on facebook for free I Tunes for Wachovia customers I would
participate in it.
Participant 5: I personally don’t really look at the ads on facebook, but I think it might be pretty
popular. To advertise to me they would need to send me something in the mail or and email that
said Wachovia and I Tunes, If it was on the Wachovia website or maybe if it was posted on the
school website, or on student central.
Q: Do you get a physical statement that you get and read?
Participant 5: I know there is a statement that comes to my parent’s house that I read when I go
home about once a month.
Moderator: Any ideas on how to make our campaign successful?
Participant 1: They should keep the pictures on the cards so that you don’t have to show your
Q: What would entice students to upgrade their accounts to formal accounts?
Participant 1: Give money and put it into a formal account with high interest.

Moderator: Thank you all for coming and participating in our focus group. We really appreciate
you coming out.

Focus Group # 1 Notes & Reactions

Notes: Tyler Duckworth
Participants: Seniors
     Finding a job
     Graduate school
Graduation & Financial Plans
     general concern about debts and loans
     some confidence in financial literacy, but still concerned
     banks not responsible not for telling us, but for making information available
           o do not want skewed information
     low interest loans
Banking Preferences
     most have accounts with Wachovia
     parents helped establish students first accounts
     are not likely to change their bank
     want friendly banks with customer service
           o no fee checking
           o online banking
           o options
Communication and Contact
     Do not want junk mail, usually throw it away
           o One doesn’t mind: frequent flier miles
     More junk mail with e-mail
           o Looks like spam
           o Would be better to put info on web site
     Wants to be updated with new feature
Student Web Site
     Password warning e-mail
     Use online banking to check account
     Not too thrilled about student website
           o Would like consolidated information
Relationship with Wachovia
     UNC One Card:
           o Convenient uses
           o One has two cards so he does not
           o One does not want because they use other bank
           o Stopped using One Card, because they held checks from parents who do not use
     May change out of Wachovia if no Wachovia in the area or if employer offers them
     Want the banks in the background, but ready to help
     Wants investment opportunities
     Wants a more impersonal relationship with the banks
           o They just want their money to be back
Idea Generation

      Do not want to be put into a drawing, would prefer something more concrete
      Wants to be recognized for going to grad school
      Wants low interest rates on loans
      Wants a site that is designed for your needs based upon your interests
      More receptive to student website second time around
      Slipped in with bank statement (consolidated information)
           o Will require collaboration between departments
      Wow, they are interested in Wachovia working with Facebook for advertising
      Want an ID option for the updated card
           o Cap and gown?
      Free checking

Focus Group #2 Transcription
Participants: College Sophomore and Junior
Moderator: Emily Hunter
     Please note that the moderator introduction is not on tape

Participant 1: My name is ---- -------- and I’m a sophomore, business major and I was born and
raised in Greensboro.
Participant 2: My name is ------- ----- and I’m a junior bioengineering major and I’m from
Wilmington, NC.
Participant 3: Hi, I’m -----. I’m a freshman and my major is pharmacy and I’m from Greensboro
as well.
Participant 3: My name is -----, I’m a junior Russian major and I’m from Pinehurst.
Participant 4: My name is ------ and I’m a business major and a French minor and I’m from
[muffled, unintelligible]

Q: Ok, Well since you all mentioned your classes and majors, what are your main concerns
leading up to your graduation.
Participant 5: Getting a job.
Participant 1:Getting a job and all that crappy stuff. At least getting paid enough to pay all my
Q: Ok, so getting a job is your primary concern but what exactly do you want to be doing
Participant 1: I’m definitely looking forward to working on Wall Street. That is pretty much my
dream basically.
Participant 3: Something in the scientific field.
Q: As far as your personal finances go, where do you see yourself financially in 2-4 years.
Participant 3: Broke.
Participant 4: Probably.
Participant 1: I would not say broke. Because I’m pretty good at managing my finance and I’m
definitely planning on graduating and living off of that. If I don’t have a job, I will definitely be
able to pay my bills. I have some stock options.

Participant 2: I would probably say that I’m going to be paying large bills, just because I’m
going to go to medical school after, so maybe after a couple maybe 8 more years I can see
myself having some money to manage my bills.
Participant 3: The first thing for me is managing my credit history, after that probably see if I can
get my home loan started.
Participant 4: Well basically I’m just going to work really hard and see where Iam.
Q: Besides these financial concerns, are there any other concerns that you think you might be
facing in the next 2-4 years.
Participant 3: Well, first we’ll be starting off and just finding a job, but then I’ll be thinking
about buying a house and stuff like that.
Participant 5: I don’t see anything else for me, like some other passion or something-I just like to
Participant 4: Well, I hope not.
Participant 1: [unintelligible]
Participant 5: [unintelligible]
Participant 2: Grad school would be my main concern, apart from that, I don’t really see myself
having many financial concerns.

Financial Education
Q: Do each of you see yourselves financially literate.
Participant 5: Up until this point, yes. I think I have a basic understanding of financial models.
Participant 3: Yeah, I don’t have any concerns about that.
Participant 2: Well a little bit. I wouldn’t say I’m as informed as ------ here, but I would say I
have a decent knowledge.
Participant 1: Yeah I have a good knowledge of finance.
Participant 4: Not really.
Q: Since some of you do not consider yourself financially literate, how comfortable do some of
you feel with bank financial services, options you have with your accounts or financial
Participant 5: I would have to say I’m pretty knowledgeable about my bank. I probably still have
some questions.
Participant 4: I’m not really comfortable or knowledgeable at all.
Participant 3: I’m good. I mean sometimes I have questions and stuff, but I’m pretty familiar
with my accounts.
Participant 2: I would give myself like 6 out of 10 because I know the basic stuff.
Participant 1: I would give myself a 10. I pretty much know what the bank services are. No
offense, but Wachovia is the worst bank ever.
Participant 5: Even though they’re ranked #1 in Customer satisfaction.
Participant 1: Like Bank of America, they also have a free student account and they give free
Participant 5: So do they.
Participant 1: With Wachovia, if you have the free student accounts you have to pay like 7
dollars or something in order to get checks.
Q: So do you think that your bank should help you prepare for that transition where you’ll need
to be more financially literate?

Participant 3: Some of it we should be responsible for, but for most of the parts they should be
responsible. I mean, they’re the ones who want to have us as their customers.
Participant 5: I think they are pretty involved. I mean, they have a branch just right off campus
where you can go in and ask questions.
Participant 1: Yeah, I would say it is the responsibility of your bank to take care of the customers
and make sure they know what the important aspects of their bank are.
Participant 2: I would say that to a certain extent, yeah the bank has a certain responsibility to
make customers of things they might not otherwise be aware of because sometimes we aren’t
aware of services and we listen to our friends and that’s wrong. So I think it is the bank’s
responsibility to make us aware of procedures and things.
Participant 4: I personally don’t think so at all. I don’t feel comfortable banking at a bank that
takes a lot of unstable customers.
Products & Services
Q: What services could a bank offer you guys after graduation to help you assist in the
Participant 3: Giving me some time to pay back my loans. I mean, we need two years at least for
us to be able to get back on our feet and make some money. Like, we’re graduating, and we’re
out there trying to find a job and they’re asking us for money.
Participant 1: I feel like they should not have like a balance for us that is fixed so that I can
transfer money to different accounts, pay off my car. That’s the first thing, the second thing they
should provide free checks for students.
Participant 5: Well, for me, like I said, I bank with Wachovia and I have a good experience with
Participant 4: What was the question?
Moderator: What services do you think a bank should offer you to help you transition after you
Participant 4: Low interest loan rates for students based on academic history or something like
Participant 2: I would have to say the same thing because that is what I would be most concerned

Bank Relationship
Q: Do all of you have at least one primary bank account, and do you have any other accounts
with other banks. Could you describe how many you have and with whom they are?
Participant 1: I have two bank accounts with Wachovia and I had to get them because I am at
UNC, then I have two of their credit cards.
Participant 2: I just bank with Wachovia and just have a checking account.
Participant 3: I have a bank account with Wachovia through UNC.
Participant 4: Well I use the federal union primarily and it is so much cheaper than Wachovia
and it offers much better loans. And then I have a Wachovia account through the school.
Participant 5: I have a Wachovia checking and savings account.
Q: What do you want most in a bank, and what is the top deciding factor in choosing a bank?
Participant 3: For me it would be mutual funds, and they also need to be credible. And because
I’m a student right now, I would want the bank to be more student credible to help me establish a
good credit history, plus in case I have any financial troubles during college, they would help.
Participant 4: Probably that, that sounds good.

Participant 5: I need customer service because I have a lot of questions and I need a bank that I
can call whenever I want. That would be at the top of my list.
Participant 1: Also, they should have like a good building, it should look nice. And when I walk
in, they should have someone to greet you. This is more typical I think of Bank of America, and
they have like cookies.
Participant 5: Wachovia has that
Participant 1: No, I’ve never seen that.
Participant 2: I would pretty much say, low interest loans and that is pretty much it.
Q: Considering your satisfaction with your current bank, will you likely stay with the bank that
you’re with now after graduation.
Participant 5: Absolutely.
Participant 4: Yeah.
Participant 3: I guess that I didn’t even know there were a lot of options out there for me in the
future, but since I don’t really have a lot of those options open to me now, I would say yes. But if
a better bank comes along I will probably go with them.
Participant 2: I would say I’ll probably stay with my same bank because I really don’t have any
problems with them.
Participant 1: I’ll definitely move on to the next bank.
Q: Since you have already made the decision to stay with or leave your current bank, when did
you make that decision and why?
Participant 5: Well, since I’m an international student I didn’t have any idea how much it would
cost when I was first here and I’m really satisfied with how they’ve handled my money and
where they put it. Like I said they’ve been really open and I’ve approached them and they’ve
always been helpful so that is why I’m going to stay with them.
Participant 4: I probably just decided because you asked me.
Participant 3: I haven’t really looked at all the options that Wachovia has to offer.
Participant 2: I haven’t really decided, I’ll just stay because I haven’t really had any problems,
but if something happens and I’m no longer satisfied with my bank I’ll change.
Participant 1: Well, first thing is the customer service that I don’t like, second thing is when you
do a transfer sometimes you bounce a check. And most banks are like, “hey, its ok. We’ll let it
go, but we’ll have to charge you next time…” which this bank does not do.
Participant 5: We actually bought a camera online and there was a problem and it overdrew but
they refunded us the exact amount and then gave me 10 extra dollars on top of that.
Participant 1: Well, I guess you were just lucky then.

Parental Influence
Q: Do you know which banks your parents have accounts with?
Participant 1: My parents bank with BB&T and Bank of America.
Participant 2: They have accounts with SunTrust and Wachovia.
Participant 3: Wachovia.
Participant 4: Probably BB&T, Wachovia, Federal Credit Union.
Participant 5: I don’t know where my parents bank.
Q: OK, when you were looking for a bank, did you do any prior research?
Participant 1: I didn’t do any kind of research. I wasn’t really involved. I would have really liked
to bank with Bank of America or First Citizens, but when you go to UNC you pretty much have
to bank with Wachovia, you have no other options.

Participant 2: I just decided on Wachovia because I thought it would be easier for me and for my
Participant 3: Yeah, my parents already had a credit card with Wachovia and my mom wanted
me to get a debit card so that was a big part of my decision.
Participant 4: I actually did do some research on the banks that I bank with because interest rates
were really important to me. I transfer money a lot to and from different accounts and some
banks charge me money to do that on top of fees.
Participant 5: Well, I pretty much went with Wachovia because it would be easier. Plus
Wachovia has branch right off campus so.
Q: For those of you who researched other banks, how did they compare with the banks that you
eventually chose?
Participant 1: The more shares and mutual funds they have in the international market is how I
compare banks. I did come here with a connection to Citibank because they said that bank was
number one, which is technically true. But most people aren’t looking to expand their
investments, they’re looking for a simply checking card.
Q: Did your parents play any sort of role in the choosing of your bank?
Participant 3: Oh yeah.
Participant 1: They were the ones who made the initial deposit.
Participant 2: Sort of because they bank at the same bank and all so that made transactions easier
to transfer from my parents accounts to mine.
Participant 4: Not really a lot, I mean I guess I’m using the same bank as they are so I guess they
had something to do with it.
Q: Can you recall when you first opened your current account?
Participant 1: I think it was just back in August.
Participant 2: Like 3 or 4 years ago when I started working.
Participant 5: Probably the same.
Participant 4: Probably about 4 years ago.

Q: We’re going to switch directions a little, and talk about the bank getting in touch with you.
We want to know if you like receiving mail from banking institutions?
Participant 2: I just go ahead and read them.
Participant 3: Yeah, if you have to give us e-mails and stuff give it to us once a month, don’t
keep on saying it every other week or day, that would just be annoying.
Participant 4: No, I actually don’t receiving mail like that at all.
Q: If you guys went to your student mail box and picked up your mail and you got a mail piece
from a bank, what would you do with that?
Participant 1: Throw it away.
Participant 3: Well, first off I would see if it was from my bank and if it was, I would go ahead
and keep it, but if it was from a different bank, I would throw it away. They’re always trying to
send me credit card offers.
Participant 5: I would read it to see if there were any new services or features that I didn’t
already know about.
Participant 2: I would look at it to see if it was an actual letter from my bank, or if it was just an
ad, then I would throw it away.
Q: Do you guys feel like there are ways that your bank could better communicate with you?

Participant 5: I’m happy.
Participant 4: I don’t know. I think if there is something seriously awesome and new that they’re
going to offer then they can communicate with us through mail.
Participant 3: If Wachovia had IM and they could reply back within like 24 hours that would be
good, because phone calls you can get really messed up and spend awhile on the phone and not
get what you want.
Participant 2: I don’t know.
Participant 1: [Shakes head, inaudible]
Q: Are all of you familiar with the cubes in the pit that you can paint? If Wachovia were to paint
a cube in the pit or write a special advertisement in chalk around campus, is that something you
would be receptive to?
Participant 1: That’s like the cheapest kind of advertisement ever, they’re a bank. They should
give away free stuff like a pencil.
Participant 5: yeah, that wouldn’t be very professional.
Participant 3: Yeah, if they were to give out free stuff or have fliers we would still see it, I mean
they don’t have to use like cheap tactics. We know what is up if we just walk by their office.
Participant 2: Well I’d probably read the sidewalk more than the cubes just because I find really
interesting stuff on the sidewalk.
Q: Can you think specifically about any pieces you’ve received from your bank and do you
remember what it is about?
Participant 1: Well, it was the first thing they ever sent me that was a points thing about how ever
dollar I spend I earn a point towards my credit to get like plane tickets or camera.
Participant 2: Bank statements.
Participant 4: I’m pretty sure most of the credit card ads I get in the mail are from Wachovia.
Participant 5: Yeah, a bank statement.
Q: Since we’re talking about direct mail pieces, would you have the same reaction to what was
sent to you if it had been sent to you instead.
Participant 3: No.
Participant 5: No, sometimes I just delete my bank statement.
Participant 1: Sometimes you get scams too, so how can you believe what you get in the mail
unless you have a hard copy.
Q: What could your bank change about the pieces that they mail to you to make them more
memorable or leave a positive impression?
Participant 3: I could get shorter e-mails instead of sending me a lot of e-mails with like long and
drawn out explanations I don’t pay attention to it, and it is annoying. They should just send me
an e-mail with a link that says…this is where you need to go to get more information about this.
Participant 4: I think if they sent money with them, then that would probably be more appealing
to me.
Participant 1: But they should be real dollars.
Participant 4: yeah.
Participant 3: Gift cards would be nice or gas cards.

Q: If there is a Web site on a mail piece that you get, are you likely to visit that Web site?
Participant 5: It depends on the type of Web site. If it was actually a part of the banking Web site
then I might visit it.
Participant 4: No.

Participant 3: I would tend to say yes, but if it is something shady then I wouldn’t visit it.
Participant 2: I would say no because I’m pretty lazy. Unless it was like really really important I
would just look at my statement and stuff.
Participant 1: No.
Q: What would be the best way for a bank to promote special services, rewards and benefits?
Participant 1: Free stuff. Come to the bank and get free stuff, or tell them what you need.
Participant 5: Free stuff. We’re students and if they were giving us free stuff then they would
know exactly who they’re customers are or if they targeted us specifically based on our academic
Q: Do you visit the Web site of the bank you bank with?
Participant 1: Definitely.
Participant 2: All the time I check my online account.
Participant 3: No, not really, no.
Participant 4: Yeah, I visit it to check my account.
Participant 5: At least 3 or 4 time a week.
Q: Besides checking your balance, what other things are you looking for on your bank’s Web
Participant 5: I’m looking to see if they have new services or a new card or something I didn’t
know about before.
Participant 1: I would say I definitely check for any unauthorized bank transactions.
Participant 2: I always check just the statement.
Q: What features of the Web site did you find appealing or useful, and what feature did you feel
need a little bit of work?
Participant 4: I really get annoyed with how much work it is to get into my account with all the
passwords and the numbers.
Participant 1: It should be really simple and really easily accessible.
Participant 2: It should be like any other Web site where it has a login right there in the center.
Q: How likely would you be to visit a Web site that was designed just for students and would you
visit that Web site often?
Participant 5: To check my bank card?
Moderator: A Web site that is geared just towards college students and what they need.
Particpant 5: Yeah, I would probably visit a student section if it was made just for me.
Participant 4: yeah I think I would visit that.
Participant 3: I wouldn’t because I wouldn’t want to be treated like any other customer. It would
make me feel like I wasn’t appreciated as much.
Participant 1: They should have that kind of information outside of the campus so yeah, that’s a
good idea.
Q: If there was a Web site designed specifically for you, what would you find useful.
Participant 5: offers for free stuff.
Participant 3: I wouldn’t want to be treated any differently. I wouldn’t want that in a bank.
Q: Would you find advertising on facebook or MySpace more or less seriously.
Participant 3: less, Way less.
Participant 1: I definitely think that would be a cheap way of getting to us and less professional.

OneCard Plus
Q: How many of you have Wachovia OnePlus card?

Participant 1: Yeah
Participant 5: yeah, it better to buy stuff on campus.
Participant 4: No
Participant 3: yeah.
Q: So what have your experiences been with your OnePlus Card?
Participant 3: Its great because I can use it anywhere on campus.
Participant 4: I think it is pretty obnoxious because our campus pushes the OneCard Plus so
much that a lot of places won’t take any other form of payment like the audiolabs and libraries
and things.
Participant 5: you can always go to the OneCard office and put money on your account.
Participant 4: yeah, but there is a definite lean towards the people who get OneCard plus.
Q: So what would your advice be to incoming students regarding the OneCard?
Participant 1: You should get the OneCard Plus that way you don’t have to carry around your
debit card and your ID, you can take care of them both.
Participant 5: yeah.
Participant 4: You might as well get it.
Q: Has your experience with the UNC OneCard, has that affected your decision to bank or not
bank with Wachovia after graduation?
Participant 3: I personally like the idea of using this card and this has probably influenced me
staying with Wachovia, but I definitely want more in a bank then just a short term benefit like
Participant 4: I assume they will start charging more and more once student checking is no
longer free.
Q: What do you plan on doing with your OneCard after graduation?
Participant 3: I will probably keep it as a souvenir.
Participant 1: yeah
Q: Would you say that you’re familiar with all the services that Wachovia and the OneCard
provide to you?
Participant 1: Yes.
[All nods]
Q: What kind of services if any would entice you to upgrade your student account?
Participant 5: I guess like a checking account and a savings account that are connected, and also
really low interest rates.
Participant 4: Maybe because we’ve been with Wachovia for four years we could get less fees on
our accounts with like bank transfers and things like that.
Participant 3: Some financial aid or something.
Q: Would you be more likely to stay with Wachovia if they offered rewards for your loyalty over
4 years.
Participant 1: Yeah, definitely.
Participant 4 I’m not going to stay with Wachovia.
Q: What kind of rewards would you like to receive for your loyalty?
Participant 3: First of all like 0% interest rates. Another one would probably be like some help
when starting grad school or trying to start a business or something.
Participant 1: There’s a reward or discount card where you can get cash back for shopping at
certain places or discounts.
Participant 5: Cash back into your account.

Q: One of the promotions that Wachovia did recently was they offered free iTunes to new
customers, were any of you aware of this?
Participant 1: Eh, I could get that for free online.
Q: How would your describe your working relationship with Wachovia?
Participant 1: It was really bad, they don’t have good customer service or anything. Oh, you want
to open a bank account, sit here. Ooh you have a good credit score, you wan’t to open an
Participant 3: I think that it can be kind of a hassle getting stuff done in there, but I haven’t
checked out any other banks.
Participant 4: I don’t know I don’t really bank with them.
Participant 5: I’ve been really satisfied.
Q: How much thought do you put into the relationship with your bank?
Participant 4: I think I’ve thought about it today more than I ever have in my life, so.
Participant1 : yeah
Moderator: Ok, did you guys have any additional comments or questions? Ok, well thank you so
much for you participation.

Focus Group # 2 Notes & Reactions
Notes: Tyler Duckworth
Participants: Underclassmen
     Finding a job
           o Maybe with a bank
Graduation & Financial Plans
     Feel pretty comfortable financially
           o Know basics
           o If not, can get help from customer services
     Grad school (plans & finances)
     The bank has some responsibilities in services
     Concerned about paying loans
           o Two years after graduation before charging loans
           o Free checks
Banking Preferences
     Two banks (2x students)
           o Uses Wachovia because he has to
     Parents advised them to use Wachovia for ease
     Wants bank with…
           o College assistance
           o Customer service
           o Nice building
           o Cookies & greeters
     Most likely to stay with their current bank
Communication and Contact
     Would prefer no direct mail
     24 hour instant messaging?
     Maybe short messages in e-mail or mail which alerted them

Student Web Site
    Mostly like the idea of a student website, but one wants to be treated like a normal
       customer with no special treatment
    Would like free stuff or coupons available online
Relationship with Wachovia
    Mostly likes the UNC One Card
    One finds the One Card “obnoxious” in that since everything is centered around the One
       Card, other forms of payment is not as acceptable
    Wachovia was giving away 15 iTunes songs? I didn’t know that.
    Want banks to get more customer feedback, but one finds it more annoying.

Focus Group User Guide #2
Wachovia Corp. & the College Student Segment
Group: Upperclassmen

    Greeting
    Purpose of focus group
    Ground Rules
          o Role of moderator
          o Recording equipment
          o Confidentiality of comments
          o Speak one at a time and as clearly as possible
    Brief get-acquainted period – names, class, major, hometown
Graduation & Financial Plans
    Graduation Concerns:
          o You have (all) briefly mentioned your class and majors, so what are your main
             concerns leading up to graduation?
          o What are your career plans after graduation?
    Financial Future Forecast:
          o Where do you see yourself financially in two to four years?
          o What are the primary financial issues you might face in this time that give you the
             greatest amount of concern?
          o Do you consider yourself to be financially literate? How familiar or comfortable
             are you with the basics of financial services, account options, or terminology?
          o Do you think that your bank should help you prepare for that transition
          o What beneficial services could a bank offer you after graduation that would help
             to assist you in this transitioning?
Banking Preferences
    Do all of you have at least one primary bank account? Do you have accounts with other
      banks? If so, how many and where?
    Do you know which bank(s) your parents have accounts with? If yes, which banks?
    Research:
          o Did you do prior research when selecting a bank to open an account?

          o If so, what were your experiences with the research?
                  How did you find out about the financial services of the other banks?
          o If you researched other banks, how did they compare with the bank you are
             currently using?
          o What do you want most in a bank? What is the top deciding factor and why?
          o What role, if any, did your parents play in your banking decision?
    Can you recall when you first opened your current primary checking account?
    Will you likely stay with the bank you’re currently with?
    When did you make the decision to stay with or leave your current bank?
    Why will you stay or leave your current bank?
Communication and Contact
    Do you like receiving mail pieces from companies and organizations?
          o What do you do with those direct mail pieces? Did you open or read it?
          o Do you feel that there are ways that your bank could better communicate with
             you? If so, what? (E-mail, Facebook, mySpace, phone calls, etc.)
    If Wachovia were to paint a cube in the pit, or advertise a promotion by writing in chalk
      on campus, would you be perceptive to that?
    Can you think specifically of any mail pieces you have received from your banking
      provider? Can you remember what the mail piece was about?
          o How did that mail piece make you feel? (good/bad/angry/apathetic)
          o Would you have had the same reaction if that piece had been e-mailed to you
          o What could your bank change about that mail piece to make it more memorable or
             more positive?
          o If a Web site was provided for on a mailing piece, how likely would you visit it?
    What would be the best way a bank could advertise special promotions, products and
Student Web Site
    Do you visit the Web site of your banking provider?
          o If no: Why not?
          o If yes:
                  What information were you looking for?
                  What features of the Web site did you find appealing or needing
                  What was particularly useful?
    How likely would you visit a Web site designed specifically for students?
    How regularly would you visit such a Web site?
    What sort of information should be included in the Web site?
    If the Web site were tailored specifically for your needs as a student or a recent graduate
      and included online banking, would you be more likely to visit it?
    How regularly would you visit such a site?
    What would you find useful on a site designed specifically for you?
             -Prompt: Potential Web site design
             What is your response to this potential Web site platform?
             How likely would you be to visit this site?

               What would you change (add/delete) about this site to make it more appealing to
Relationship with Wachovia
    UNC One Card: As UNC students, all of you probably have UNC One Cards.
           o How many of you have Wachovia student checking accounts?
           o What type of One Card do you use? (One Card, One Card Plus, etc.)
           o What are your experiences with the One Card?
           o What advice would you give to incoming students regarding their UNC One
               Cards and the Wachovia checking accounts?
           o Has your experience with the UNC One Card influenced your decision to bank, or
               not bank, with Wachovia after graduation?
           o What do you plan on doing with your One Card after graduation?
           o Are you fully aware of all of the services which the UNC One Card and the
               Wachovia student account provide?
           o What kind of services, if any, would entice you to upgrade your Wachovia
               Student account?
                       --Rewarding Loyalty Program:
Would you be more likely to stay with Wachovia if they offered rewards for your loyalty?
       What kinds of rewards would you like to receive?
               Wachovia recently had a promotion with iTunes for new customers, were you
aware of this promotion? Did you participate in the promotion?
           o How would you describe your working relationship with your bank or Wachovia?
           o Is your relationship on good terms?
           o How much thought do you even put into the relations with your bank?
           o What do you think and/or know of about Wachovia’s current financial banking
           o What role or relationship do you believe that your banks should have with you,
               the customer? How much involvement does that entail?
Closing Comments
    Any additional comments?
    Thank you.

Focus Group # 2 Notes & Reactions
Notes: Tyler Duckworth
Participants: Seniors Part 2

Gabby, Senior, Sociology
    Med-School, pediatrician
          o Sees herself in debt
          o Bank aid would be nice
          o Bank of America
          o Mom: BoA & SunTrust
          o Important: ATM accessibility
          o Parents Role:
          o Not with Wachovia, most likely to stay with BoA since they’re “everywhere”

                       Made decision after freshman year difficulties due to parents having BoA
           o Gets her mail once a month and sent to Nashville house
           o Thinks that the banks should just target freshmen since seniors are by that point
               “set in their ways”
           o Would most likely not visit the website regularly
           o She likes the linking of accounts of the One Card
           o Would like extensions on interest or loans
           o Likes Grey’s Anatomy
Jared, Senior, Biology
     Grad School, Ph.D. Molecular Biology
           o Poor but not in debt
           o Literate and moderately familiar with services
           o Bank aid would be nice but not needed
           o Would like to keep the free checking account
           o Wachovia Checking & Fidelity CD
           o Parents: Wachovia
           o Research: no, just for the free checking account
           o Important: lack of fees and availability of free ATM machines
           o Parents Role:
           o Likely to stay with Wachovia
                    All over the place
                    Good customer service
           o Most likely send to parents house, but doesn’t get much mail
           o Not impressed with chalk or cube advertisements
                    Doesn’t show “professionalism” of a bank
           o One Card has been a positive experience
           o Would update to something with a savings account that builds up interest
           o Would most likely stay with Wachovia for long-term benefits
                    Gifts: t-shirts, stuffed animals, iTunes downloads
           o Just would like access to the money when he asks for it
           o Going to a financial literacy program would depend on the free food that was
           o Likes Adult Swim on Cartoon Network

Focus Group #3 Transcript
Participants: Seniors
Moderator: Emily Hunter

Emily: what is your class, major and hometown
Gaby: senior biology major from Nashville, TN
Jared: senior biology major from Pennsylvania
Emily: What are your main concerns leading up to graduation?
G: going to medical school
J: going to grad school
E: Where do you see yourself financially in two years?

G: very much in debt
J: I’ll be poor but hopefully not in a lot of debt
E: What gives you the greatest amount of financial concern?
J: needing to borrow money to buy a car
G: borrowing as much money as I can
E: do you consider yourselves financially literate?
G: I think I know all the basics
J: I think I’m literate moderately
E: What beneficial services could a bank offer you after graduation to help you transition?
J: keep my free checking
E: Do you have primary bank account or an account with another bank?
G: I have an account with Bank of America because we don’t have a Wachovia at home
J: I have a checking account with Wachovia and some money in fidelity CDs be because they
have high interest
E: What banks do your parents bank with?
G: My Mom banks with Bank of America
J: both of my parents bank with Wachovia as well
E: Did you do any research prior to opening an account
J: no I just signed up for the one card deal
G: yeah I had to choose because the bank here isn’t at home
E: what do you want most in your bank and why?
J: lack f fees and availability of ATM machines
G: yeah the same for me ATMs are really important
E: What role did your parents play in your banking decision\?
G: they helped me a lot because they did everything, I didn’t do anything
J: my mom is still on my account with me
E: When did you open your first checking account?
J and G: in high school
E: When you graduate would you stay with the bank you’re currently with?
J and G: yes
E: When did you make the decision to leave Wachovia?
G: after my freshman year because It was difficult for my parents to give me money
E: When did you make the decision to stay with Wachovia?
J: I don’t know, but since they’re all over the place and their accessible, I’ll stay
E: do you like receiving mail from banks?
J: I don’t get it; I think they have my parent’s address
G: yeah, I only get it when I go home so it’s not that often
E: Are there other ways your bank could better communicate with you?
J: I haven’t really set up online banking so I don’t know
E: If Wachovia set up a cube in the pit or advertised with chalk on the sidewalk how would you
feel about that communication?
J: I don’t thin that is sophisticated enough for a bank; it needs to be more professional
G: If they do that I don’t think it will reach a lot of upperclassmen because they are pretty much
set in their ways I think they need to be more professional
E: Would you like to see ads from Wachovia in your favorite TV shows or your favorite

G: I guess so
E: do you read the DTH; would you be receptive to ads from Wachovia there?
J: I think so, I would have to see
E: How have the pieces of mail you’ve received from banks made you feel?
G: When I’m at home I do read the statement to make sure everything is alright and it makes me
feel nice
J: I just usually throw them away
E: What is the best way for a bank to advertise promotions, events, etc?
J: What ever way is least invasive, I don’t want to be receiving mail or email all of the time or
being harassed.
E: do you visit your bank’s website?
J: No
G: to check my balance
E: How likely would you be to visit a website if it were specifically designed for students?
J: probably not much more than the regular site
G: I agree
E: What sort of information would you want to see on that site?
G: Popular questions about the bank
J: I don’t know
E: Do you have the one card plus?
J: yes, it has been a positive experience
E: What advice would you give incoming students about the One Card?
G: I think that it is a good idea to combine the one card and checking account, that’s the one
good thing about
J: yeah I’m pretty happy about it, it’s the only ATM available around campus it’s good
E: how has the one card influenced your decisions to bank or not bank with Wachovia?
G: It influenced my decision when I came here, but there are no Wachovia’s where I live so I
decided to leave
J: I don’t know about after graduation, but it has helped me stick with Wachovia all of these
E: What do you plan on doing with your card after graduation?
J: I plan on using as long as I can
E: Are you aware of the services that the one card plus provide?
J: yeah
E: what kind of services would entice you to upgrade to a different Wachovia account after
J: When my financial situation changes and I’ll need a savings account
E: Would you be more likely to stay with Wachovia if they offered rewards for staying with
J: yeah, I would like money and little gifts like t-shirts
E: How would you describe your relationship with Wachovia?
J: distant and professional
E: What do you think about the current services Wachovia offers?
J: I think they are good
E: What role should the bank play in your life?
J: they should jus t hold my money and be there when I need them

E: what kind of activities do you do outside of class?
G: I work a lot
J: I do research in a biology lab on campus
E: do you attend on campus seminars or lectures?
J: yeah, sometimes
G: no not really
E: would you be interested in a seminar presented by Wachovia?
J: it would depend on what the seminar was about and if they had free food
E: do you read magazines and watch TV? What are your favorite TV shows?
J and G: adult swim on cartoon network
G: I don’t really read magazines.

In-Depth Interviews: Series #1
     Tameka Attaway-in depth Interviewee
     Kimberly McAuley- in depth Interviewer
K: What is you class major and hometown
T: senior, journalism, and Charlotte, NC
K: what is your major concern leading up to graduation?
T: getting into dental school
K: what are your career plans after graduation?
T: becoming a dentist and paying back loans
K: where do you see yourself financially in two years?
T: in a lot of debt because I have a lot of loans and dental school will be expensive.
K: What are the primary financial issues at this time that give you the greatest concern?
T: loans because I pay for college with loans
K: do you feel that you are financially literate?
T: somewhat
K: How familiar are you with the banking and financial services?
T: I am familiar with the account that I have, but other stuff, not so much.
K: Do you think your bank should help you transition into the real world financially?
T: of course that would be a great incentive to make me stay with them
K: what beneficial services could a bank offer you that would help you stay with them?
T: free checking. Low interest loans, high interest savings accounts
K: Do you have a primary banking account?
T: yes it is with Wachovia and it is a savings and checking account
K: do you have accounts with another bank?
T: yes, I have an account with bank of America that is a savings account that I opened before I
came to college
K: do you know which banks your parents bank with
T: Wachovia and credit union
K: did you do research prior to opening an account
T: when I was younger my brother and I had custodian savings accounts with first union so when
I came to college I just got a checking account with Wachovia because I already had a savings
account with them and my parents told me it would be better than walking around with a lot of
cash all of the time. My parents pretty much influenced me because they picked it for me.
K: How did you find out about the financial services of bank of America?

T: my parents had the idea of not putting my money all in one place so I just put my money in
there that I don’t touch
K: How does that compare with your Wachovia account?
T: honestly I only keep up with my Wachovia account because I don’t touch the other account
K: in terms of the savings account, how do the banks compare?
T: honestly, most of what I know is checking but I don’t know interest rates, I’m guessing
Wachovia is better because I’ve been with them longer
K: What do you want most in a bank?
T: I guess I want credentials and credible because sometimes money goes missing. Honestly,
that happened to me this summer with Wachovia, but it all worked out smoothly. Also I want a
bank that’s friendly with good customer service and that’s probably why I’m with Wachovia
because I been with them so long and I know them. I want somebody that’s reliable because they
have my money in their hands
K: Do you remember when you opened you primary account?
T: Checking I opened when I came to college, but I don’t remember the savings account.
K: Will you be likely to stay with the bank that you are currently with?
T: yes I haven’t had any major difficulties, so I don’t see why I should go through the hassle of
changing banks
K: When did you make the decision to stay with your bank?
T: It wasn’t anything I thought about it's who I’m with now, so why change it
K: Do you like receiving mail pieces form companies and organizations
T: if its information about a need that I have, but if its junk mail I don’t like it
K: What do you do with the mail pieces that you receive?
T: I live in Chapel Hill and the mail I get goes home so when I go home I read it if it has my
name on it, but most of the time I throw it away because I’m not home to get it.
K: Do you feel that there are ways that your bank could better communicate with you?
T: It would be nice to know what was going on with the company, but as far as sending a lot of
emails or a monthly newsletter I honestly do not read them.
K: what about the bank advertised on myspace or facebook?
T: that wouldn’t bother me at all, as long as it has an incentive and it benefits me, but it would
have to be eye catching because I don’t usually pay attention to the advertisements on facebook.
K: What if Wachovia were to paint a cube or draw on the sidewalk, would that appeal to you?
T: The chalk on the sidewalk would appeal to me because I always look down when I walk, but
I don’t go to the pit that often so the cube wouldn’t affect me that much. Also, I feel that they
would have to be innovative in order to catch the attention of people my age, so I feel that they
have to do what they have to do.
K: Can you think specifically of any mail pieces you have received from your bank provider?
T: I get my statements but it’s sent home
K: how did that mail piece make you feel?
T: made me feel secure because I feel like they’re doing their job because my money adds up
K: Would you feel the same way if the mail piece were emailed to you instead?
T: I don’t think the feeling would be different, but when I get tangible mail pieces I’ll open them
more than I would an email, I don’t know why, but I would.
K: If a website was provided for on a mailing piece, would you visit that website.
T: if it was website for Wachovia I wouldn’t because I already go to that website

K: What would be the best way for a bank to advertise special promotions, products and
T: Something fun, do something fun to promote it, something interactive, don’t just do a mail
piece or a bill board, throw a block party something crazy off the wall. Something that’s
different, innovative, you have to get people’s attention if you want to change their behavior,
that’s what I’ve learned.
K: What features of Wachovia’s website do you find appealing?
T: I don’t really look at the site; I just look at my balance so I don’t know
K: What do you think needs improvement?
T: maybe make it more aesthetically pleasing, and more eyes catching.
K: What was particularly useful?
T: Very easy to use the website, very easy to transfer funds
K: How likely would you be to visit a website that was specifically for students?
T: Yes I would go, especially if it offered me benefits. Because I like to save money
K: how often would you visit the website?
T: I don’t know
K: What sort of information should be included on the website?
T: All the information on the regular website and coupons and incentives, to attract me to the
K: How useful would you find a site that was designed specifically for you?
T: I would have to see how it would end up I don’t know yet.
K: Do you have a UNC one card plus? And what are your experiences with the card?
T: yes, I didn’t have any problems until this year because the university doesn’t accept visa, but
other than that, I don’t have any problems
K: What advice would you give incoming freshman?
T: I would say combine the card, because it is convenient.

In-Depth Interview: Series # 2
     Terra-In-depth Interviewee
     Rachel-In-depth Interviewee
     Emily Hunter- in depth Interviewer
Emily: I’d like to know each of your names, majors, and class
Rachel: Journalism major from Greensville, NC and I’m a senior
Terra: Senior chemistry major from Willow Spring,
Emily: What are your main concerns leading up to graduation?
Rachel: finding a job
Terra: getting into grad school
Emily: what are your career pans after graduation?
Terra: I’m going to get my teachers license and teach high school chemistry
Rachel: I will do videography, photography
Emily: Where do you see yourself financially in two to four years?
Rachel: Where do you see yourself financially in 2 to 4 years?
R: hopefully making enough money to get by and pay the rent
T: I don’t know much about a teacher’s salary and I went to teach in a rural area so my salary
won’t be a lot
E: what are some primary financial issues that you might face at this time?

R: I will need another car, maybe car payments, paying rent
T: being able to afford rent, car payment and insurance, possibly getting married, not knowing if
I’m going to get married not knowing if my husband will have job
E: Do you consider yourselves to be financially literate?
R: I just know the basics
T: My mom works at the credit union so I know a lot about banking
E: do you think your bank should help you prepare for your transition after graduation
R and T: That would be great, that would be nice
E: What beneficial services could a bank offer you to help you with that transition?
R: info about purchasing a home, investment
T: the best way to stay out of debt
EL do you have at least one primary banking account
R: I have a checking and savings
T: I have one account and a loan through another bank
E: What bank do your parents have accounts with
R: Bank of America or BB&T
T: State Employees Credit Union
E: did you do any research prior to opening your bank accounts?
R: my dad saw that there were Wachovia signs around campus and set up an account for me
E: What were your experiences with that research and did you find out about other banks?
R: No, I just let my father handle it.
E: What do you want most in a bank and what is your top deciding factor?
R: A bank that is honest with you about your financial status
T: things that I like are free checking, overdraft protection and warning,
E: do you like receiving mail from organizations?
R: getting statements in the mail don’t really matter to me because I check my balance on line
T: If I get something from another institution, I’ll probably throw it away I feel mail is becoming
E: Do you feel that there are ways that your bank could better communicate with you?
T: I don’t know what more they could do before they become annoying and intrusive
E: How would you feel about bank advertising on myspace or facebook?
T: I’d probably ignore it like the mail
R: I don’t think that is very professional
E: Do you remember any mail pieces that you have received form your banking provider?
R: Information bout cards and a statement
T: I get a statement and there is a newsletter in the statement that is pretty helpful. It gives advice
about accounts and stuff.
E: How does that mail piece make you feel?
T: Indifferent
R: I agree
E: Would your reactions have been different if it had of been an email?
T: I would have been angry because I would feel like it was junk mail
R: I agree
E: What could your bank change about these mail pieces to make them more memorable?

T: I don’t know because my parent take care of my finances and I don’t have to worry about
anything else, so I really don’t look at that kind of stuff and I don’t have a fair way to evaluate
the mail I receive.
R: I agree
Jessica: Would it be fair to say that the mail pieces that you do receive are relevant to you?
T: I don’t know if they’re irrelevant, but I just don’t look at them because they are at home
E: If there were a website that was provided on a direct mail piece, would you be likely to visit
that site?
R: Sure
T: If I was actually looking for information
E: do you ever visit the website of your bank?
R: to check my balance
T: to check my balance too
E: What features of the website do you find appealing? Or needed improvement.
R: sometimes it doesn’t show my transactions, but that could be the business and not the bank so
that’s really not a problem with the bank
T: I like that it has the history feature so that I can go back as far as I want and the way it lists all
of my transactions. I don’t like the two balances.
E: Do you think that you would visit a website designed specifically for students?
R: I’d visit once every weeks or so
T: not often because I don’t balance my check book that often
E: if there was a website designed specifically for students, what kind of information do you
want on that?
T: ways to plan a prepare for your future when you have to get out on your own, and give you a
heads up
E: now we want to talk about your relationship with Wachovia. Do you have Wachovia free
student checking accounts?
R: yes, but its not linked with my one card
T: no
E: What advice would you give incoming students about Wachovia and the One Card?
R: I would say that it is a good idea because Wachovia is on campus and it’s easy
T: I disagree because I don’t like that feeling of being trapped and feeling that someone is
controlling you because Wachovia has such a monopoly on campus
E: Are you fully aware of all the services that the One Card plus offers?
T: no, I know about the one card
R: no
E: If you did have the UNC one card plus, what would entice you to upgrade your account after
R: frequent flyer miles, something useful
T: continued free checking as a reward for staying
E: how would you describe your relationship with your bank?
R: well I talk with them about my checking and savings and I have my first credit card with them
T: pretty good
E: so you would both say that you have good relationships?
T and R: yeah
E: How much thought do you put into the relationship with your bank

R: not that much, maybe later on it will be more important
T: It is very important to me because I don’t want to feel like there are people that are apathetic
and don’t care and might lose my money. I want to know that there are people there who care.
E: What do you think about Wachovia’s current financial banking services?
R: I know about free checking and credit cards because I have one
T: they have a pretty manipulative strong thing going. Free checking for students is a pretty good
deal because of the stereotypical poor college student and doesn’t have to worry about another
fee that they have to pay. It’s pretty enticing.
E: What kind of relationship should your bank have with you?
T: it should be familiar. Especially if your going to the same place. It’s important that they can
be familiar with your habits because when I went to Italy they called and made sure that no one
had stolen my card, not like big brother is watching but enough to know they care.
E: How much involvement should your bank have with you, what is the cut off point?
T: It would be giving me advice in specific directions because they are looking at my account
and my purchases. It would be better to have options open without pushing me to those options.
R: I agree
J: What if there was a personalized website and on your personal webpage it had advertisements
especially for you? Would that be too invasive?
T: would that be like the MVP food lion card?
J: yeah, kind of, like when I sign in for my bank account it would have things catered towards
my likes.
T: I think that’s kind of cool, but I would feel really insecure if you had to sign up for something
like that online. I would feel more comfortable if you actually had to go into a branch and sign
up. I feel like by doing stuff online, you miss a lot of the details and fine print, then that’s
crossing the line.
J: What about having coupons for UNC one card plus users for local merchants, would that be
R: yeah if it offered me coupons for places that I eat or shop at a lot.
T: will they just be sending you coupons because you’re in the Chapel Hill area or because they
are tracking your purchases.
J: no just based on the fact that you’re a Wachovia customer and you attend this university
E: that would be enticing if I had Wachovia
J: Can you think of anything else that would be an incentive?
R: something dealing with travel
T: I don’t like how there are a lot of incentives already so I don’t like that idea in general.
J: What about a reward for loyalty?
T: I think a cool thing would be to higher interest rates the more years you have it with us
J: What kind of activities do you attend on campus?
R: Carolina Week-the news program on campus, Intervarsity Christian Fellowship, speakers,
concerts, stuff relating to my major
T: things relating to my major
J: are you part of the general alumni association?
R and T: yeah
J: do you get mailings from them?
T: yeah emails
J: what kind of concerts do you go to?

T: a lot of campus group concerts
J: are you worried about falling into debt?
T: I’m concerned about what is the easiest way to pay off a car or house and saving for my kid’s
education, it would be cool to know how to do that stuff.

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