EDWARD JONES Harvard Case Solution & Analysis

Answer to Question #1:

Edward Jones has grown immensely over its time span in the industry. Since their origin, the company has grown to a whole new level and has come a long way from a small-town business to becoming the fourth-largest broker in the United States.
The firm was founded by Edward Jones, later on joined by his son Edward D. “Ted” Jones Jr. His success as an individual significantly helped the company grow, as he himself added valuably to the strategy of the company. He focused on placing his offices in rural locations where the competition was only the existing local banks. The efficient strategies of Edward Jones efficiently boosted their position in the market as they quickly grew from the position of 9th or 10th largest brokerage in St. Louis to becoming the 2nd largest brokerage in the territory.

The brokerage has been growing efficiently and their client base has been increasing since their operations started. Edward Jones had been following some stated standard throughout the organization with respect to their customer relations, product in the market and several other aspects of the brokerage business. Through these guidelines mentioned by the company they have been able to rapidly grow their operations in the industry while sustaining their market position against a number of strong rivals. The brokerage has been pursuing the same strategy for nearly 30 years and have become the 4th largest broker in the U.S.A number of factors have caused the organization to grow successfully towards becoming one of the leading corporations of the industry, which are describe as follows.

Customer Scope

Edward Jones has been preferring to deal with individual consumers, this have been increasing the capability of the firm in delivering higher level of value to the end consumers of the firm. Edward Jones did not use any specific segmentation of the market with respect to the net income or worth of the households, instead their FAs used to seek out the most suitable accounts with respect to the different customer needs.

FAs have been able to efficiently cater to the different needs of different customers. The firm solely made the FA responsible for opting the client for the company and they were given access to the database of the distribution of household net financial assets by neighborhood. The FAs used interactive means for communicating with their potential clients. They used face to face interactions, referring themselves to the potential client through an existing one and or getting response from the local advertising arranged by the FA.

The brokerage efficiently used their FAs for understanding the transforming needs of the clients. The firm efficiently adapted and explored methods through which they were able to target the fast growing market of different segments including African Americans, Asian Americans and Hispanic Americans.....................

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