Citibank is one of the leading banks worldwide. It is now planning to expand its credit card
business to Asia Pacific area. There are surely threats in that market, but there are also
excellent opportunities. In this article I will analyze the Citibank as a brand and will
discuss possible solutions to the problems that might occur in the new market.
Brand of Citibank: Citibank has already been in banking operation in Asia Pacific and
mainly has good relationships with large business houses. Also, for private customers,
Citibank offers the Citi-one accounts with minimum deposit $10,000. In addition, in Hong
Kong there are 7,600 Citigold customers who are required to deposit more than $100,000
in their accounts. Consequently, Citibank has been regarded as a prestigious,
consumer-oriented international bank.
Clear Positioning: As mentioned above, clear positioning as a high-end bank for upper
class and large business firms, Citibank could successfully create brand image in Asia
Pacific.
Core Competencies: Citibank has managed properly these intangible resources with
tangible resources such as banking by phone, overdraft protection and a designated
customer service officer to manage their accounts. These resources have combined to
create capabilities and become core competencies.
Competitive Advantages: As a result, Citibank has competitive advantages in the banking
industry. By adding new financial products, continuing to improve technologies for
providing better services and products, Citibank will strengthen its competitive
advantages; they will become sustainable competitive advantages.
Recommendation
I would like to recommend launching credit card business by leveraging Citibanks
competitive advantages. In order to successfully launch credit card business, I would
