Citibank Marketing Strategies

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Nowadays,companies more prefer to use the three approach in Modern Marketing.They are Segmentation, Targeting and Positioning (STP).Companies realized that they cannot satisfied all the buyers in the market place in the same way. Due to buyers are widely scattered and varied needs.Certainly, companies themselves tried serve their customers better but result is not ideal. So, companies need to apply driven marketing strategies that can build up good relationship to the right customers. Citibank adopted the segmentation, targeting and positioning to comprehend what kind of customer they serve, which product is attractive to the customer, which type of market that the firm need to focus and offer s clear and desirable place to satisfied the…show more content…
As, Citibank with the strongly support of the Citigroup, Citibank more prefer in multiple-segment as the target to increase the number of consumer and made profit. Because the quintessence of Citibank's corporate culture is to improve service quality and customer centricity. So, the credit card of the Citibank provided is widely suitable for use to all levels. Low income earners, high income persons, fresh graduate and wages earners,businessman are also the target segment of the Citibank. This is to ensure Citibank Target the right customers. For example, The Citi Simplicity cooperate with restaurants, shopping malls, travel and also online offer , packaging as a card user privileges called Citi World Privileges. Others credit card such as Citi Prestige Card are collaboration with airport such as hotel,Singapore Changi Airport, Hong Kong International Airport, Kuala Lumpur International Airport and etc. If you are the Citi Prestige Card users, you are able to enjoy 4 night stays at any hotels worldwide for free for 4 consecutive night booking and unlimited complimentary access…show more content…
Market positioning means that the firm will based on the competitor existing products in market, observe the degree of attention for the customer of certain features or attributes of the product. Thereby to create a distinctive and impression image of company’s product and clearly convey this image to customer. Thus, to determine the appropriate location of the product in market. Citibank apply more for more value proposition. Based on reality, It is simply to know who the more for more players are. For example, Citi Prestige card is the more for more player in Citibank. Although, Annual income of the Citi Prestige card must reach at minimum RM200,000 and annual fee also as high as RM1060 but Citi Prestige card also become the popular card for the customer for travel purpose. It is due to the extremely vain and luxurious enjoyment of being a cardholder of Citi Prestige Card. For instance, Cardholder are able to enjoy the complimentary Priority Pass of Unlimited Worldwide Airport Lounge access ,upgrade to Starwood Preferred Guest Gold Status for free, free for green fees of 2400 golf courses all over the global and countless benefits. It is same with the concept of more for more, bank charge a higher price but provide the most deluxe product to the customer. However, If customer are searching a flexible and luxury travel card ,Citi Prestige Card are more suitable for them compare with OCBC Voyage card .For instance,

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