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The Citibank Strategy Using Ebusiness Marketing Essay


The Citibank started in 1812 in the town of New York in the United States of America, the lender started with very limited funds selling typically insurance policies and investments, the lender was one of the first national bank in the US, developed very early on in the overdue 19th century, the bank broadened fast and gain customers self-confidence quickly which made other banking institutions dread the fast growing Citibank, later became called the Citigroup which involved other financial areas and signed up with the integration business procedures with other companies.

The loan company created new business opportunities, for many business by offering lending options and shares, the company has created the business cards which managed to get easy to cope with the money transactions and other payment methods, the bank cards use to be fast for the time frame, but with the fast growing use of the credit cards, the business enterprise boomed and other way for money ventures being required, the Citibank was main banks to set-up the web e-business answers to ease the work load on their employees, reduce the price of documents with paperless claims to customers, and increase the speed of communications.

The finance institutions competition has increase in recent years, the technology of the e-business and software solution has took the bank's systems and advanced it for the befits of both lenders and their customers, the creativity resulted in the increase in competition using any methods to win and control the market segments, the competition has two means of competitions, the perfect and the monopolistic, the Citibank used both of these, shared benefits with perfects competition using involved business programs with other lenders and business associates and used the monopolistic to introduce cheaper prices and shared investments with abroad beneficiaries without the concern of the impact on the US market segments.

The Citibank used many strategies in their strategies, using the strategy to compete on the market needs intend to screen the financial market and the currency markets very closely, the lender introduce the costs very carefully as it pertains to utilize the monopolistic way gives them the business lead in the price manipulation, the other strategy is the marketing which is the most important element in increasing sales margin in the tangible resources and improving the business's image in the intangible assets, using the e-business for marketing has advanced very much and the online marketing has proofed of its features and worthwhile, using the e-business for marketing needed analysis from the Citibank to evaluate the situation every once in awhile to manage their marketing functions and strategy.

The Citibank after researching, analysing, and deciding to utilize their arrange for all the strategies pointed out which helped them for a century of financial loans and services, the company realise that any business can do anything to endure the unexpected, using the perfect theory or monopolistic will be the same it does not make them evil or unethical loan provider, the appearance in the market and your competition comes from nowhere, will be the bomb shill of the financial market and any market, the Citibank working corresponding the stock and financial market changes and the variability of the market is handled by no one except worries or the secure individuals that manage and operate in the markets.

E-Business services strategy

The computer time, emerged and change businesses the way they functions and run, the invention of the program and other computer alternatives made the business life easier and intruded velocity at the task place, the new invention has two edges, the first is an edge for the business enterprise across the world for the reason why mentioned, the downside is the increasing in unemployment, the greater software invented the more people lay back again of work and the machines overtaking, lots of machinery will be handled and operated by one worker. The whole software process done automatically, the sole time is the lender recruiting interfere in human contact when the situation get out of hand and research is a must, the bank will start private investigation for each and every case, the web site of the bank has many features and facilities that permit the clients and customers to brows to their products and services. (Bodily, 2004)

Citibank among the many companies who are responsible for making much redundancy across the world and trusted the " new world " advancement in e-business and its functions, for example before anything get to do with expenses, paper work, transactions authorisation, company's editing and enhancing, needs many processor chip employees to cope with the requirements and enough time shelling out for that job will take calendar months to complete especially if there is faults or problem by human touch, the new creativity in the software computing system both most advantages that mentioned, the velocity of the procedure will take few minutes for applications to be stuffed and the completion of a task will take couple of days instead of months, if any flaws occur, the software automatically will fix the problem and issue a report for that matter, Citibank has an online site that uses quite strong encryption database which include all the work needs and security for coverage from any sudden hackers assault, or competitors seeking to invade the Citibank privateness which is common in the monopolistic competition. (Bodily, 2004)

Figure 1 the diagram illustrated the e-business procedure between specific and the lender / the foundation Yahoo image.

The diagram provides idea of the way the data and information transfer between customers and the bank, the info will go through many authentication procedures before reach the other end with mere seconds or minutes, the strong and secure database needs more tad encryption codes, the software alternatives has only agreed user names and go words for the company's employees to recognize them and allow those to inter the primary domain name software to be able to manipulate the database and do the work in a safest way, the mixtures of the system is very complicated and has millions of different rules and has countless amounts, the other security for the Citibank online services which may have been innovated and made working with the bank with more self-confidence is the fact that Citibank create the secure online personal accounts for customers which allow individuals to go surfing and need to put the password then put the various numbers in different webpage and then ask for the bill holder some questions, when all this done in only few seconds the lender account page offers you information of the previous time you stopped at the webpage, if the user sees it was not him/ her visited, then the bank ask customers to be educated immediately and the lender will freeze the account till further investigation done. (Smart Processing, 1999)

The bank also provide credit cards products, the credit cards would be relationship contract with the VISA, MASTER CARD, AMERICAN Exhibit, and DINNER, the bank provide these credit cards to customers through agreement done between your Citibank and the cards companies, contract between the customer and the credit cards companies, and the Citibank and customers, the bank will fill automated request through the safe their databases and the cards companies database, the application form takes few minutes and the answer will be approved or declined, if it's approved, the bank will fill computerized request to part that is suitable for the bank in the application form confirm the authorisations of money and the cards, the bank then will concern another automated software between them and the customer for a deal that guarantee the customer will consent to their procedures and have the cash with guaranteed security, the lender then will attempt to sell the customer their preferred product which is the insurance for the loan in the event of unemployment, sickness, or other reason which will be related to the customer un in a position to pay the loan back, the card issuer will take few days to process the cards and transaction of the money will be automatically refined, this process in the past would take calendar months to complete. (Daft, 2008)

The Citibank products and services, promise that the new advancement way of the lender functions are simple, fast, and secure, therefore the loan provider when provide online procedure for application the assurance to ensure the customers service and support through the time that your customer requires, the lender provided claims facilitation for the online support that was designed for communication between your bank and customers, the merchandise such as insurance has various style and made to different segments, there is certainly life insurance just in case of any fatalities in the family, health insurance that made for reduce the inconvenience of GBs and clinics and give satisfaction in the event of health emergency, travel cover for family members or individual in the event flights cancelled or trouble along the way of the air port or anything related to travel, insurance on property includes business and private properties which the bank managed to get compulsory if the customer had taken the loan from the Citibank, in some insurance the Citibank require customers to fill up application and provide all the non-public data then the insurance will be immediately effective, and other insurance needs to be investigated after filling the online program such as home insurance. (Robbins, 2001)

The Citibank with all these e-business products and services, the software companies didn't stop on providing the online services at this point but ended up much far than that, the databases between them and customers, the use of the cell phones has increase comparing to the 90s when it's first used, in that time such only use for calls and perhaps some companies supply the customers privilege of SMS in the old encryption data, the cell phone calls were too noisy and the and the web or internet weren't created yet, the finance institutions customers would be recommended to visit the lender frequently to ensure of his/her bank-account running well. (Earl, 1999)

The software companies has created a system similar to the online on the internet on computer systems, the use of the internet on mobiles mobile phones has topped the chart for businessmen, students on the run, entrepreneurs needs the internet handy when they going and some data to be directed right away and this data sometimes contain important material, other important use is that sometime some cash ventures to be validated before deadlines, so some deals to be completed, Citibank asked the software solution company to work with their latest advancement in mobiles technology with the bank services by calling and facilitate the web services with mobile online personal accounts, the contracts set again with two gatherings, the first one is the lender with data transferred firmly online on the mobile, second is the mobile company such as Vodafone, Orange, and T-Mobile among others, the contract will allow the bank to use and manipulate their databases online through different encryption that designed exclusively for the mobile only use and allow Citibank customers and then process their online personal bank or investment company, in return for this service the lender will encore little charges that will go directly to the mobile phones company for his or her allowing the lender and the bank customers through their technology.

In the past the needs for data copy, information feed, on the go messages between the bank and the customers were not a good wish, people wouldn't imagine the idea or someday some technical advancement would get to the main point where SMS information will reach the internet mobile services, however now in the utilization of the mobile services has reached customers that wouldn't be possible before, the bank provided Text message services that will allow customers to go through their loan provider accounts online on their cell phones and check their emails from the lender to see them of the total amount and their statements, they even give a code to brief SMS emails with 52484 which allow the customer to visit immediate to the site as this code being posted on the Citibank website, the other thing that resulted from the agreement between the loan company and the telephone companies is that both companies will have distributed advertising, the bank using the phone companies will suggests the contracted mobile phone companies to their customers and the telephone companies will advertise for free in their devices pages for the bank, in this way both companies using the other person customers, the diagram composition illustrated within the next diagram shows the e-mobile new technology of how data and information being used and what constructions involved in the data copy through only mobiles encrypted rules. (Earl, 1999)

Figure 2 the diagram illustrates the e-mobile operation structure / the foundation: Google image.

The Citibank also provides online services such as paying the resources charges such as gas bill, electricity bill, the assistance will be encrypted to suit the transactions between banks, for example the customers go online and choose the feature that say mange your charges, the webpage will identify the codes encrypted when security password inserted, the web page then shows up and the client will be required by the bank to fill up some form online, then after the page completed the program automatically asks from the customer to hold back for the application process, the site then will appear to confirm the deals form the lender page to the business that issued the bill and mailing email verify the obligations. (Earl, 1999)

The loan provider even created a cutting down system plans for their customers using the programmed savings accounts, for example the technology software designed for customers, to deposit a degree of money let say $500, the cash in two time will automatically sort out very complicated data allow the number work itself through some opportunities, the computation data would be put in advance in to the system so the money will be calculated each month automatically, taking certain ratio from the investments cut despite the assets success or fail, the computation set to have the cut from the ventures automatically to the customers loan provider accounts, the strategies through the e-business are incredibly complicated, so no person allowed to improved or evolved it, other assets that the client will share the info designed to permit the customers share the loss of some investments if indeed they decline and the agreement is clear relating to this on the online application, the clients on the other hands have different shares and different applications that only allowed clients or companies to enter into private domains on the program solution main web page. (Handy, 1997)

Figure 3 the diagram illustrates the Oracle application server which allow only secure data copy / the source: Google image.

The diagram illustrates the kind of server that they use which take strong pieces and security software to enhance the protection of these customers, the software also give customers other benefits such as insight and end result information without the machine break down. One of the biggest Citibank purchases products is, the shared fund investments that your software give customers the challenge to compare their prices online, through their own URL and websites to ensure the clients the guarantee of fairness and give customers the preference of the investment funds that will change their life forever, the lender realise that advertising for their products is insufficient, they had for taking the challenge by making use of the technology through contrast with other finance institutions or building societies offers online, the offer includes the extra benefits that Citibank willing to give up because of their customers for the benefits of both the bank or investment company and their customers, the Citibank already investigated the utilization of the assessment software and realized its methods, the greater advantages to customers the greater the software will put them on the very best of the comparison list, and this the way the software has been designed not for specific loan company, its mutual deal for the advantage of everybody involved with this formula of kitty and mouse, the strategies of the Citibank are differ from country to country and region to the spot, the websites are so many and each one has different language and different approach even although focus on is the same to increase earnings and inter new markets, the utilization of the web banking gets the same benefits for just about any nationality or culture, and the Citibank has designed many websites for their bank all over the world. (Handy, 1997)

Citibank Strategic Methods

The Citibank runs using two ideas, using the perfect theory and the monopolistic theory, the perfect competition theory when the marketplace is deciding and have prices control, and all companies are happy with it, no one has the electric power in controlling the prices function, the Citibank perfect competition allow other companies to share the competition, in the other aspect of your competition theory is the Monopolistic competition which apply its hard line harm on prices, companies who are ready to take this highway has opportunities to use the market in an odd way to gain profits working in this type of competition and selling products, the market simple to use one of the ways enter and the other way exit and no obligations, there are many products and consumers in this market but no business has total control as the prices sometimes change according to circumstances such as financial market changing. (Borden, 2009)

Since the start of the planet financial problems couple of years china and taiwan government authorities have a contingency intend to protect their economy by not depending using one sector or one business as they made a plan of Diversification in both federal government and private sector where made them go the market meltdown that happened in america market regarding the Citibank business where show that the overseas branch has survived the drop stage comparing to the other finance institutions in america market due to freedom of ability to change some regulations abroad that depends on the circumstances. (Carr, 2003)

Figure 4 the stand illustrates the lender balance sheet for interior use by the Company/ the source: Google image

The stand above illustrates the basic known balance linens for bank or investment company and building societies; the balance sheet help the lender determine the revenue and expenses for the company annual statements.

The Citibank starts off to follow the blueprint in which suits all their market audience mostly new segments and new markets, The bank's move was to teach employees, and offer proper training and understanding about the culture of each region, and understanding the laws and regulations and legislations of every government separately and ensure that the managers possess the right management accessories and tools for running the company abroad. (Carr, 2003)

The good strategic move Citibank is to improve the image that developed currently about company abroad, the first one is the use an ethical way of assisting some takeaway business with loans that use food handling with chemicals seed products to expand a paltry, without realising that the bank activity has been computed and watched from different honest teams. So Citibank try to change this image by come close to the community and suggest to them the way they follow the right way, they only support those who find themselves following right ethical path, especially the local faith and culture in some Far East countries such as Indonesia about following a ethical ways, presenting HALAL bank account which will not charge pursuits on any bank account in the Islamic way, on the other side of the world, in america the ideas didn't work just how Citibank hoped, the moral teams are fiercely attacking the lender plans of helping companies that uses chemicals and destroying the surroundings, which led to controversy and debates, and that wasn't the sole case. (Borden, 2009)

The Citibank get involved in many unethical conditions such as relying on foreign opportunities that will depend on cash and not involved the matter of the moral side, the truth involved allowing overseas investors who are involved or suspected in wrong doing in the bank's stocks, and other instances such as working from paying fees on some top secret investments abroad that not has been documented in america tax team. (Borden, 2009)

Marketing Strategies

The most facet of the bank's business, or any business for example, the company talents to market their products and services, just how of represent themselves and how a company can promote themselves with careful method of the other businesses and the general public, the most important thing for the Citibank using the marketing techniques is the utilization of the HR to control the damage that is a headache each one of these years. (Kotler, Keller, Brady, and Goodman, 2009)

The Citibank used the strategies such as the four Peas, the strategy which proofed success in the market because of its accurate analysis to identify their belongings such as tangible and intangible, the investments have great power effect on any business, when identify what the company as place, product, price, promotion, the company can determine the immediate situation of what they have and compare it to the marketplace and their opponents, the bank will find where they stand on the market, using other research such as the market the BCG which means the product life cycle, any company use this matrix can determine their products or service whether it's worth retailing it in the market or its waste material of assets in new product or service. (Kotler, Keller, Brady, and Goodman, 2009)

Figure 5 the diagram illustrates the 4Ps matrix for the marketing mix/ the foundation: Google image.

The 4Ps in this diagram clarify the essential 4Ps matrix and its marketing mix, the Citibank uses this matrix constantly to determine their own marketing mixture, start with products, the bank provided the entire world with the finest bank's services and products which adding new various extra every time the marketplace require the change including the e-business and upgrade and renewal of the personal computers, if the lender does not use these techniques they wouldn't know that the marketplaces needs the changes and the products would be the same and nothing extra or no variance in products will be added, products and services advancement coming in the same group of the deviation which products and services needed to be encouraged by the old ones, the enthusiasm comes also form the customer's needs including the customer easy to use a bank account and the capability to manipulate his/her own bank account which came up possible with the e-business.

The place or the locations in the marketing mixture, assume to be the first choice for just about any business the syndication stations which is most liked by any loan provider round the world to have the ability to connect using their customers, the Citibank has many locations round the world that permit them to sell immediate to customers and increase communications with the clients as well as the public, when discussing the place in the past, someone will understand is merely the locations, but with modern tools advancement age, the idea has altered and place in the marketing combination also means the web services such as all the features that exist on sites, everything customers needs it'll be on their websites, including choosing of any words, data, design that suit individuals, business 2 business communications, data and cash transfer, and many more. (Li, 2007)

The price of the Citibank always using the price elasticity to compete on the market, the hard collection prices which pressure customers to buy the products without bargain is out of the question, the program of the lender always have variations as well as the products, the prices will vary targeting different sections such as students cards which has a different price charges than people or pensioners, the Citibank uses the penetration price techniques which permit them to set a price for market exclusively for the penetrate the marketplace, for example a simple bank goods and services cost a certain amount on the market, to penetrate that market the Citibank as a big experience company establish challenging and competitive price known that other lenders will not try to do the same, in cases like this the Citibank penetrate that market for the reason that specific product or service realizing that they triumphed in that product or service.

Finally the advertising, a technique in the marketing combination that give a chance to the bank to recognize the present advertising techniques and what are the new competitive techniques, the essential thing this technique depend on is the mass communications, the communication will be between your Citibank and their marketing company that has a complete management system designed specifically for this type of function, for example when the Citibank encountered all the unethical fiasco and the controversy that was included with it, the marketing team and the PR of the business device with the marketing company to do harm control and place the right conditions for releasing assertion right away, and didn't stay in that, the PR of the company kept appearing in various media programs, a newspapers, mags and TV shows to relax the press down and evidence that the lender actions are honest and responsible. (Poter, 1998)


The Citibank as a sizable corporation, started as an effort of ambitious individuals who saw the near future in something that became multinational company later, the business has offered the entire world many great products and services, created many opportunities and jobs for the public, helped the yearly capitalism to advance with a system that proofed its success for over 100 years, the business helped the world of how to produce management system, increase marketing communications techniques, helped in many researches and projects that added to the business world of today, each individual in the key senior management throughout the annals of Citibank has created something new for the business's systems functions, walking with the changes and the hurdles that have took place in the last a century has made the business more robust and wiser and that's the reason the company deserve the reward for success even though their main goal is the money.

The company scientific progression and co-ordination in communication, helped the business to maintain the lead in the banking business, when the technology of online business came about in the middle of the twenty century by many Microsoft companies, the computer shows up in many companies offices and learn to be part of the business, the public then has no idea who information and cash being moved or market works.

The Microsoft companies start to challenge the other person in the program technology which moved the business function permanently with the e-business and working online, the future of the e-business the way Microsoft views it, it depend on the customers demand because the world market segments today are leading positions on any business or functions is the (demand phrase), the firms understand that the demand years is here now and depends on the future customer imaginations and liking, the Microsoft predictions are creating software that calculate for the customer all the banking options and present them the best discounts not only what is going on today which present the clients with selection of best offers on contrast sites, the near future calculation is counting the individual best interest of the charges and the machine in the future will force bank system to change to focus on the customer's interest as opposed to the cash and sales that generated by venerable customers who are being priced with a lot of money plus they have been cornered by greed of the bankers.

The Citibank plan is to create a new management system that can screen changes in the surprising events that power immediate actions; the plan will includes the increase in partnerships with feared competition who are leading to Citibank money and effort to keep them out of bay, these companies not only in the lender business but also in the other business functions using the assistance of the US government's senators and other congress Politian's capacity to force laws and regulations to be fine-tuned or removed to match few rival companies, the Citibank has their own talk about in the formula of vitality but to illuminate the surprises, their intend to come nearer to the rival its one with their priorities.

The Citibank uses a software system that hook up them straight to the financial and the stock markets, using the web e-business has helped them to keep an eye on changes in the rate of exchange and the stock market talk about, as the Citibank company operates abroad, their actions depending on rate of exchange and improve their profits and earnings, the bank seeking to modify the e-business system with their overseas competitors in the banking business and create rate exchange monitoring system that'll be specialised in the actions of the orders, as opposed to the present system that only is determined by the market activities and the price that would cause them to follow the marketplace price regardless of their rate exchange concern, even although Citibank used their techniques before, the company doubts from the consequences that leading to the marketing scandals and open public mistrust.

Finally the Citibank is the company that has contribute for many years, delivered to the public great banking system, presenting e-business cost money, time, and work to research it and put in place, the near future for the bank business is shiny and looking rather well, the lender system always will put the revenue ahead of their customers and this is the way business world functions.

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