Much can be learned by observing other types of businesses which have been subject to economic pressures for many years. A few years ago banks considered it unethical to advertise. There were few, if any, branch offices. Banks had large, magnificent buildings downtown with the president of the bank sitting in the back office very independent, very self-assured. However, competition and economic pressure changed all of that.
Banks now have huge marketing and advertising budgets.
There seems to be a branch office on every corner. They are going to the customer instead of forcing the customer to come to them. Mergers and buy-outs are taking place at an unbelievable pace. Some banks have not been able to adjust and are no longer in business. Those orthopaedic surgeons who examine their position and aggressively pursue a strong strategic plan will not only survive, but perhaps even thrive.