Furthermore, the projected customer base also determines the market entry approach that best fits that target market. In the case of Chile, the country illustrates an ideal market size approximated at 17.4 million citizens, and with the main degree of economic freedom. In this regard, the best market entry approach for Chile is the improvement of customer engagement and satisfaction through more relevant ad timely communications. This is mainly because of the large projected customer base that in turn requires for additional attention. The real-time relationship between the customers and the bank backed by the timely communications offers in-depth customer insights through each interaction point (Czinkota 512). The turning of customer’s insights into automated and operational brilliance further paves way for the new banking service in Chile thus leading to realization of higher profits. This approach also suits Chile as it incorporates the research evidencing the deficiency of banks to provide value to their customers. Countering this pre-existent condition, this approach enhances the customer’s records using key insights such as their lifestyle and banking behavior. As a result, there exists a more relevant and effective distribution of value to all segments of the customer base. Subsequently, factors such as high ranking in World Bank’s income groups of 2012 and lower middle economy characterize Bolivia. Furthermore, the similarity between Bolivia and Chile as illustrated by the cultural dimensions calls for an entering approach that depicts slow customer attrition while building stronger relationships (Carlton 252). This approach ensures minimal dissatisfaction of customers thus preventing loss of established customer bases to competitors. Through creation of early warning systems, this approach identifies the customers’ turning points prior to their occurrence thus providing a chance to address the customers at risk. In other words, this approach ensures continuous productivity through active implementation of retention measures through shaping the services according to the customer’s preferences. On the other hand, Slovenia illustrates a collective society whose members exchange adherence and loyalty. With a reduced market size, Slovenia calls for a real time customer growth initiative. This approach propels take cross-sell and up-sell to new heights by triggering the target market’s readiness to open new accounts and enjoy the services offered. Through development of cross-sell and up-sell programs, identification of customer’s readiness to create, change or start utilizing on-line services becomes predictable. As a result, the bank gains control over the sale of certain products and services through studying customer behavior. Foreign direct investment actively participates to the growth of global business through provision of new markets and applicable marketing channels (Graham & Spaulding 1). Furthermore, it contributes to provision of cheaper production facilities in a country like Chile where the population is relevantly high. Furthermore, licensing accrues for significantly higher returns through engagement into relatively risky markets such as Bolivia. Following to extreme competition, foreign direct investment facilitates provision and effective utilization of new technology, products and skills. On the other hand, these aspects aid the development of a strong forward
Date: Marketing paper 1 As the summary depicts, future market development refers to the manufacturer’s attempt to identify a new market for both existing or new products and services, and subsequently develop them to fit the respective criterion…
As per the classical democratic social contract, the government’s only function in a state is policing; to ensure that no citizen is stripped off their right to engage in trade and commerce activities. Such a system prevails with an underlying assumption that every citizen will inevitably have access to all the necessities of life and that a free market will ensure this provision.
It operates under the parent organization named Citigroup, which is third leading investment organization in banking sector in United States. It is one of the preeminent organization serving about 200 million customers across the world with a strong corporate image and identity in the market.
The bank is based in New York in the United States and operates in 44 countries in North America, Latin America, EMEA and Asia (Boone and Kurtz 54). Citibank, N.A. is a wholly-owned subsidiary of the Citigroup, Inc. The company deals in various financial activities, the most popular services offered by Citibank are investment banking, consumer finance, e-commerce, mortgage lending, cash management, commercial banking and trade finance, “retail banking products and services and private banking products and services” (Boone and Kurtz 54).
(Yelkur, 1996) It is one to in reality discover and calculate the customer's needs and wants but to attain desired outcomes these answer need to be interpreting into corporation language. Therefore, corporation is supposed to focus on what is incorrect with the obtainable product or services and try to appreciate what the purchaser actually needs (Bouchereau, 2000).
However, this paper evaluates validity of the statement as to whether and how stock markets can actually contribute to economic growth of a country, and that this can be achieved up to what extent. Empirical studies do suggest that a well developed stock market can considerably support economic growth in the long run through faster capital accumulation, improved resources allocation and exploiting the prevalence of positive sentiment across the country.
Part of the reason was that, Citibank did not try to work out an aggressive marketing approach towards establishing itself as a leading brand in credit card business. Other markets in the region like India, Malaysia, Thailand and Indonesia too are gradually opening up to the globalised concept of economy, which in turn means inviting and facilitating willing foreign banks to operate and diversify their businesses in those countries.
Headlines found on the Citibank main web site in the midst of a global economic crises (and with a $45 billion government bailout in its own coffers), seem bold, except for the lower mortgage payments on home loans. In the meantime, who's got savings
Supply and demand, consumer behavior, decision-making, firm behavior, and market structure-these are the underlying schema in microeconomics as the overall economy appears to be on a roller coaster ride.
Cash and carry arbitrage transactions includes paying for a commodity in the cash market with borrowed money. Then, the buyer of the commodity sells the corresponding futures contract in order to make a profit. Arbitrage can be described as the simultaneous buying and selling in two separate financial markets with the intention of making profits brought about difference between the buying and the selling prices of same specific commodity transacted.
Meanwhile the emergence of video game industry would open new set of challenges for regulation. Already there has been lot of controversy over the impact of video games over children’s psychological problems. It is said that is said that depiction of graphic violance, sexual thmes, racism, advertising, and other sensible things in computer and video games have creating lot of problems in young minds.
Innovative change is liable to shape the eventual fate of the media part significantly. It is depicted by change in issues, for example, industry structure, and types of media creation. A few social and social encounters have produced inside the
8 pages (2000 words)Essay
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