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1 Module 2.3 Case Study: Citibank Embry-Riddle Aeronautical University MKTG 449 – Strategic Marketing Management October 29, 2023

2 What is the issue? When Citibank began to open retail branches in Japan in 1986, they were not regarded as a threat to well-established banks in Japan. This was because foreign banks were viewed to be less safe than domestic banks. This sentiment was concreted by the fact that until 1997, seven of the top ten banks in the world were based in Japan. A series of disclosures of the financial problems by Japanese banks eroded consumer confidence in domestic banks. The former negative perception of foreign banks being less safe, became a positive perception of being safer. What is the goal of the analysis? The goal of this analysis is to evaluate Citibank’s business strategies in Japan to learn what makes them successful. In its early years, government regulations, powerful Japanese banks, and the unsafe image of foreign banks stifled Citibank’s success (Czinkota et al., 2021). In the 1990s, the collapse of security companies and other financial institutions contributed to Citibank’s rise. When financial problems eroded consumer confidence in Japanese banks, Citibank came up with services that were a hit to customers (Czinkota et al., 2021). This included multicurrency accounts, online banking, 24-hour ATMs, and telebanking. Citibank also became the first bank with any kind of business deal with the Post Office Savings System, which furthered its reputation as a safe place to put money. These and many other tactics have built Citibank’s reputation as a strong and reputable brand in Japan. What is the context of the problem? - Citibank’s maintenance of its growth rate and popularity. - Differences in cultural views as seen between CEOs John Reed and Sanford Weill. - Major competitors and the inability to distinguish themselves with interest rates. What key facts should be considered?

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4 Reference Czinkota, M. R., Kotabe, M., Vrontis, D., & Shams, S. M. R. (2021). Marketing Management. In Springer texts in business and economics. (pages 751-760) https://doi.org/10.1007/978-3- 030-66916-4

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