INTRODUCTION In 2009, HyundaiCard’s vice-president of marketing Jae-Woo Park met with several other marketing managers to discuss new strategies for the HyundaiCard in Korea. HyundaiCard entered the Korean credit card industry in 1999; they initially started with their “M” card that was targeted to their customers buying an automobile. This card proceeded to be a success and jump started their dive into the credit card industry to a full. Although the card was a success, HyundaiCard suffered from minimal customer count which is a key to becoming one of the leading players within the credit card industry. However, as a result of an innovative marketing plan they were able to establish themselves as on of the market leaders in the …show more content…
These two circumstances combine pose a great threat to HyundaiCard’s ability to achieve its goal as becoming the industry leader.
SITUATIONAL ANALYSIS (DISTINCTIVE COMPETENCIES) HyundaiCard has one distinctive core competency that sets them apart from their competition and that is their ability to capture customer usage data through their eCRM system. By integrating their website with the eCRM system, HyundaiCard was able to provide tailor made services through their website to the consumers. They were able to promote marketing campaigns with online business strategies and competitive online services. Lastly, they were able to upgrade the e-mail solutions in order to achieve the company’s objectives. Through this systems integration HyundaiCard was able to strengthen their customer relationship by analyzing customer tendencies and provide customized services for the individual credit card holders. They were also able to develop themed malls within the website based on card member’s tendencies. By integrating this customer information both online and offline, HyundaiCard has been able to connect with each card member personally and utilize the data from the website and the actual channel customer data to assist the marketing team with decisions on their strategies moving forward. This is very essential because it allows the marketing team to utilize real time
From an operational viewpoint, banks are trying to incorporate technology in their product offerings, such as advanced banking and financial-related mobile applications. Innovations are made with the assistance of learnings from customer information and data analysis, which are an essential part of analytical CRM. The strategic view also suggests that banks are building a social presence on online platforms to enhance customer engagement and build a long-term relationships with their customers. The above approaches can clearly be identified when looking at CBA and NAB customer relationship management strategies. With its high-tech ATMS and state-of-the-art Commonwealth mobile app, CBA has full product leadership in the market, enabling them to have a competitive advantage when attracting new prospects or customer retention. On the other hand, NAB use customer intimacy as their core CRM strategy, cutting their product offerings in half and make consumers more centrally focused. They are very responsive in customers' needs and wants; and is the leading brand when it comes to customer
The growth of credit cards is 4.5 % which is higher than the average growth of industry which is only 0.9 %. Maybank is holding the number 1 in customer card base, billings and merchant sales. Several strategies are implemented by Maybank to sustain the position in credit card industry. For example, reposition the value of proposition and carry out year-long tactical campaigns are parts of the strategies. This may promote the credit cards to the targeted customers. Several awards received by Maybank also show the strength of them in this area throughout ASEAN. Since Maybank is the leader in credit cards market, the future of credit cards is expected to be optimistic. Thus, Maybank may put more efforts to gain more in credit card market in
When Quiksilver announced the start of its women line Roxy in 1990, they defined the brand as a “fun, bold, athletic, daring and classy” brand for young women. Market segmentation is a crucial marketing strategy and Roxy utilizes the four bases that are commonly used for segmenting consumer markets including geographic, demographic, psychographic, and benefits sought segmentation. The geographic segmentation is ideally unlimited for the Roxy target market because the brand offers clothes for both warm and cold weather, however, it focuses mainly on the “beach lifestyle” and is generally more popular in beach towns. The demographic segmentation of the Roxy brand, is aimed to attract young women between the
First of all, with the help of SAP ERP system and associated business intelligence applications, the employees could serve the customers instant personalized as they use the firm’s database to profile customers. For instance, as the article said, the site’s software can analyze order patterns, reminding and suggesting customers of their favorite products. They add a YMAL cross-selling tool and develop a customer relationship management system that tracks each customers’ past purchases which recommends products that other customers purchased. Moreover, the database recognizes whether a visiting customer is a new, infrequent, or loyal customer which could serve them appropriate information.
What is the product offered by the Daytona International Speedway and the Daytona 500? How does the Daytona 500 create and deliver customer satisfaction through the five types of utility?
Citibank has managed to develop different e-business products for diverse industries by utilizing the growing technology market and providing the convenience for their customers. The many products and services offered has been a success for each market segment because it meets the needs of each groups. Also the customer’s service lines, relationship managers and products specialists for the varied clients are required to identify the market needs and develop the new services according to the different industry segments.
BMW’s success lies in its strong sense of identity which is tied to the experience of driving the machine. BMW is considered as one of the leading producers of luxury & state of the art vehicles. BMW the world no.1 premium car company who owns Rolls Royce & MINI have established itself as a brand having conformance in brand image – status and driving pleasure –across the world.
The AT&T universal card service is a credit card company has undergone a significant transformation to become a leading credit card company. Universal Card Services (UCS) has invested heavily in improving the quality of service delivered by the Universal card service call center with an overall aim of improving the customer satisfaction. It is in this light that the company has transformed its management and operations in order to focus on customer experience and realized significant improvements (Rosegrant). The achievements of AT&T Universal Card Company has been a result of gradual and strategic planning and goal setting that has driven the company to success. The process of market strategizing started with the development of a sound plan through market research and analysis of the customer needs and demands. The approach was possible through the surveys for both employees and customers and analysis of the findings. The company then structured measures that could improve employee performance and customer experience (Rosegrant). At the panicle of AT&T won the Malcolm Baldridge National Quality Award
Our California Institute of Advanced Management consulting team (BECK Consulting) looked into many different areas to gain helpful insight and information for Song & Meng, PC Our BECK Consulting group focused on four key areas: online marketing strategies, offline marketing strategies (specifically print ads), market expansion opportunities in South Korea, and finally, marketing strategy evaluation. Each section has detailed information on how we believe these areas can assist Song & Meng, PC BECK Consulting drew from a variety of resources for this project, including peer-reviewed journals, trade publications, other online resources and the professional experience of each team member.
This technique is useful for Boots but database size is larger and larger and also data doesn’t flexible. The users, analysts took a long time to research require data. So, this becomes one of the problems for Boots. By using Customer Data Analysis System (CDAS), Boots can solve this problem. One of the purposes of Boots is to change Loyalist customer to New Market and to remain New Market customer as Loyalist. The later, Boots also want to create Campaign Management System to give pleasurable shopping to loyal customer of Boots. To complete these purposes, Boots need to consider the organization’s current position by using SWOT and PEST analysis.
The complexity of the current economic climate demands creative and innovative business approaches and presents the opportunity for growth in developing markets by addressing unexpected or counter-intuitive consumer needs. Shifting demographics, increasing purchasing power of non-traditional segments and a trend towards customization present a compelling case for viewing MasterCard’s business efforts through a diverse lens.
The continuous development of Internet leads to the growth of e-commerce. The electronic commerce is growing constantly due to the continuously increasing number of mobile and online users in the market, primarily the emerging markets. Besides that, the development of the Information Technology (IT), such as the advance of paying processes and the improvements of shipping method also the main reason to cause the growth of electronic commerce (John Ingham, 2015). Most consumers accept e-commerce as their feasible alternative in the purchase of goods and
Citibank should launch the card product in Asia for several reasons. Firstly, Citibank can ride on the rapid economic development in the region via credit card products. Secondly, it is also an excellent way to overcome distribution limitations imposed on foreign banks in the region. Thirdly, it allows Citibank to expand its customer base from the upper income segment to include the rapidly growing middle-income households, which is consistent with its global growth strategy and mission in Asia Pacific. Fourthly, by introducing credit cards, Citibank will be able to cross-sell other product lines such as Auto Loans and Ready Credit
In general terms, marketing is all related to the places of buying and selling of goods and services to satisfy customers’ needs. Nowadays marketing is the most important issues for success of every business marketing is the activity, set of institution, and process for creating, communicating, delivering, and
The German automotive manufacturer Volkswagen also known as “the people’s car company” was formed in wolfsbury, Germany in 1937. Over the years the company has expanded, manufacturing both commercial and passenger vehicles, through the expansion the Volkswagen group were created. The Volkswagen group today according to Volkswagen the group (2016) is one of the world’s leading automotive manufacturers in Europe. Volkswagen the group (2016) highlighted that the group encompass twelve brands from seven European countries. The company’s brand portfolio include brand such as: