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Marketing Research Essay

708 words - 3 pages According to the case study, Citibank business had been impacted by growing credit cards losses as the global financial crisis of 2008 and 2009 took its toll on the Indian economy. The issuing bank usually charges consumers by a ...view middle of the document...

According to the lecture, target marketing can be defined by age, gender, income, sexual orientation and location. In order to get more information from every section we must know about the measurable, differentiable, substantial, accessible and actionable. Measurable is talking about the size, purchasing power and characteristic of segment must be significant so the target can be identified. Citibank has a big support from Citi group in Malaysia to increase their revenue and profit .Due to the supporter of Citibank , the credit cards will come out with a wide range which is can be used with every level of people.After went thought the study case, we found that Citibank wasn't recognize about the marketing strategy. Based on the lecture, there are two main steps in strategic planning which are corporate level and Business Unit, product, and market level. In the first step of strategic planning also divided into 3 different categories (mission statement, object and goal and business portfolio). In order to get to know more deeply in this first strategy we must understand the definition of Mission statement. Mission statement is a statement of organization purpose-what it wants to accomplish in the larger environment. In addition, mission statement should be market oriented, not product oriented. This is the main problem that Citibank were missed due to misunderstanding the strategic planning. They didn't care much about the customer value and wasn't making a good relationship with customers also. To solve these problems, Citibank should be making a strategic decision which is a key to make marketing strategy goes well. According to professor Youseff, the most important think of marketing strategy is capturing the view or value from heart and mind which mean to get a good marketing strategy we should building up a good relationship with customers with a heart and serving a product with creative from mind.Finally,

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