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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 possibl

According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product

e 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 mini

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

um 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, c

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

lear 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 prote

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

tion 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 produc

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

ts, 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 Citiban

ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc

's competitive advantages. In order to successfully launch credit card business, I would recommend to implement the following strategies for Citibank.

Organizational Change: The root cause of country managers' resistance to issue credit cards is in organizational structure. Because

easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi

they don't want to take risks which may cause future losses of their business. Therefore, Citibank has to change the organization: first credit card team of Asia Pacific should be in place and it should be responsible for building strategies for entire markets. And this team should w

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

rk closely with regional offices. So-called matrix organization should be implemented. Specifically, the team will use current customer base of each country and establish most suitable marketing mix for each country under the cooperation with regional offices.

Marketing: In order to

and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ

keep brand equity of Citibank, Citibank cannot conduct mass-marketing but more pinpointed marketing for target customers. Therefore, Citibank should not use Bind-Ins method. Also, to achieve effective marketing, Citibank should not use Direct Mail in this case. Consequently, Take-On

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

s and Direct Sales should be used to acquire new customers. However, location of Take-Ones is very important to access upper and upper-middle class people and high quality of Direct Sales are also mandatory for its success, because Citibank targets not only customers outside its bra

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

nch business but also cross-selling other Citibank products and services to these customers.

Strategic shift from developed countries to emerging countries: Citibank should start from strengthen its business in Hong Kong then launch credit card business in Australia and Singapore. Be

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

ause Citibank can use stable infrastructure for the operation of credit card business in these countries and access large number of upper and upper-middle class people.

New team can attract more current upper class customers for the credit cards then expand new customers from upper-

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

middle class by offering Gold Card and middle class by offering Classic Card without deterioration of brand equity through right marketing mix mentioned above. In addition, Citibank should introduce Platinum Card for super upper class people, which may add more brand image for Citiba

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

k and also prevent from the cannibalization of current Dinner Card holders.

Expansion for Emerging Markets: Considering the long-term growth prospects, Citibank should start credit card business in emerging markets like India. Poor infrastructure for the operation might be some trou

t?

As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel

bles in the process of the operation, but future profit as the first mover in these countries will overcome these problems. In order to capture increasing number of upper-middle class people in emerging markets, similar strategy should be applied in these countries. They are hungry f

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

r a better quality of life and are ready to spend. Another important factor to be successful in these countries, Citibank should rethink the cost structure and redesign the products to fit their requirements.

Product Differentiation: In addition to offer Platinum Card for super ric

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

h people, Citibank has offer more advanced services and products. First, Citibank can consider to issue Cathey-Pacific Citibank Card in Hong Kong and Philippine, SingaporeAirline Citibank Card in Singapore, etc. in order to obtain business executives who currently use Amex for their

.

As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de

usiness trips. Second, Citibank can offer the credit card with card holder's face picture for the identification. Third, Citibank can issue cooperate cards through strategic alliances with prestigious companies such as Hutchson in Hong Kong, Singapore Telecom in Singapore and Tata-gr

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

oup even in India. As a result, Citibank can obtain more business executives as their new customers.

Through these marketing mix and strategies, Citibank can successfully launch credit card business in Asia Pacific, keeping the brand image prestigious and bringing incremental earning

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

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Promotion now comprises not just marketing products and services but serious studies among customers and suppliers as well.

When people are considering making a purchase of services they seek out more information because of the intangible nature of what they're purchasing.

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