Marketing mix 4ps of citibank

What is the marketing mix and the 4ps of marketing model? What entices consumers to engage with your business and buy your product or service? It may sound easy, but effective marketing takes a considerable amount of research and planning.

Marketing mix 4ps of citibank

Let us start the Citibank Marketing Mix: Citibank being a global bank, have a range of products like investments, insurance policies, offering loans and shares.

Citibank also issue credit and debit cards. Their marketing mix product strategy are set across various segments: Citibank has a different pricing strategy compared to its competitors.

They either provide premium and higher prices for their products and services over other banks or have flexible pricing policies based on competition or market conditions or the growing economy. The interest rates are decided by banking authorities worldwide and central banks of countries, and it is similar for Citibank as well.

Citibank have a network in nearly 36 countries with over branches and growing. As it originated in New York, there are a many branches and also maximum revenue gets generated from the United States. Latin America and Asia follow close behind in the revenues generated whereas Europe, Middle East and Africa constitute a small portion.

However, in countries like India and China there is a very poor presence of CitiBank. An ATM accounts for absence of branches in certain countries. Citibank has a strong promotional strategy as per its marketing mix.

Entice consumers to engage with your business

Main promotional strategies are advertisements on billboards, television, internet and newspapers. The advertisements clearly mention the achievement of the banks alongwith its facilities and services.

Citibank have a value based communication. They are major sponsors for sports events and teams. They also provide special credit card and debit card offers for Citibank account holders. Recently, they have started providing cashback benefits when you apply online with your Citi credit card.

Marketing Mix Definition of the 4P's and 7P's

Even though they are earning high revenues in most countries, they still lack in promotion in some countries. Since this is a service marketing brand, here are the other three Ps to make it the 7Ps marketing mix of Citibank.

Citibank is a bank focused on the requirement of its customers. The customer base is spread across countries and more than million customers have taken the services of Citibank. The banking processes laid down by Citibank are extremely customer-oriented and streamlined.

Citibank has definite processes for all types of banking activities like account opening, deposits, withdrawals, transactions, forex, investments etc.

Marketing mix 4ps of citibank

The employees are extremely well trained and well equipped to ensure that the service delivered to customers is of the highest quality.

Citibank is a global banking brand and has its presence in many countries. Its physical evidence is evident from various bank outlets and offices spread across the world.

The ATM machines, credit cards, debit cards etc all show the physical aspect of the brand. Being a prominent bank, Citibank has made sure of giving the highest quality to its customers. Hence, this covers the marketing mix of Citibank About Citi Group: Citibank mainly deals with investment banking and financial services.

The current chairman is Michael E. Citibank have the largest financial services network ranging over countries with around 17, office worldwide and over million accounts in countries. The Marketing Mix section covers 4Ps and 7Ps of more than brands in 2 categories.The marketing mix is a familiar marketing strategy tool, which as you will probably know, was traditionally limited to the core 4Ps of Product, Price, Place and Promotion.

It is one of the top 3 classic marketing models according to a poll on Smart Insights. The 4Ps and the marketing mix The 4Ps are the ideas to consider when marketing a product. Bank, Citibank, Credit card Words | 4 Pages. Open Document.

Mkt/ Marketing Mix. American Marketing Association in , coined the term “marketing mix”. The marketing mix . The marketing mix along with 4Ps is the basic concept we should know when learning about the market. In marketing different products, this strategy works as a business tool. Marketing mix has a crucial role in differentiating product’s unique quality from its competitors, and is often as good as.

The 4P's given are from Citibank and Wells Fargo. However, the 4P of marketing are more or less identical for all the major banks. Product: Convenient and secure online access via the banking institution’s websites (and mobile applications) to services and transactions normally available only at physical locations or via mail or over the phone.

Due to a strong marketing mix of Citibank, the bank is regarded as one of the most important banks of the world with a consumer oriented multinational Citigroup has the distinction of being the largest holding company in the banking sector when talking of total assets.

The concept of “marketing mix” was introduced over 60 years ago. In , Neil Borden mentioned it in his presidential address to the American Marketing Association (AMA).. In general terms, marketing mix is a variety of different factors that can influence a consumer’s decision to purchase a .

Marketing Mix Definition - 4Ps & 7Ps of the Marketing Mix