also be targeted.
These constituencies form the basis for the rest of the marketing program. The mortgage and consumer borrowers represent the consumer end of the market and will be targeted through specific consumer avenues. The commercial real estate customers will be approached because their business is typically larger, per transaction, than mortgage transactions, and because this is again a part of Southway's (now NatEast's) portfolio that led to the institution's high level of success.
To some degree, financial institutions are limited in the products they can offer by the regulatory environment in which they operate. To this end, some financial institutions are of the opinion that if they offer a specific financial instrument, consumers (whether commercial or other) will purchase it. Southway has built a strong business by concentrating on two core areas of business: real estate loans, and consumer loans. The real estate loans take the form of commercial real estate as well as mortgages, which comprise the bulk of the bank's portfolio. Consumer loans are a small but significant part of the portfolio. NatEast would be well-advised to build on these core businesses since Southway has demonstrated an ability to attract and effectively serve customers within these market niches.
To this end, NatEast should be creative in its approach to retaining Southway's reputation as a customer-oriented bank. While the bank must offer competitive rates for its various product offerings, that being a fundamental differentiator within the banking market, it must also strive for high customer service. Customer service is difficult to quantify, but each employee of NatEast should be inculcated into the concept that every product includes a high level of customer service.
Customer service can begin with calling customers by name at the teller line, and can continue with all employees being aware and informed about the various cus...