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Indonesia citi bank

Pujit Chanana
Pujit Chanana

Citibank is proposing to launch credit cards in Indonesia. Indonesia has a population of over 250 million people and is the largest Islamic country in the world. The proposal discusses Indonesia's growing middle class and consumer spending power. It outlines competitors and target customer segments. The action plan involves pre-launch market research, designing cards to match identified needs, and a marketing plan with advertisements, road shows and promotions. The conclusion is that now is the right time for launch as Indonesia's economy grows and this will help Citibank's global expansion.

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Presented by: Abhishek Sharma Pujit Chanana Proposal: Launching the Credit Card in Indonesia
[2] Socio-Cultural Background Worlds 4th most populated country (252 million +). Largest Islamic country in the world (80% Muslims). Secular state with minority population of Christians, Hindus, Buddhist.
[3] Political Background Former Dutch colony until 1949. President Sukarnos autocratic rule from 1949 to 1968. General Suharto replaced President Sukarno in 1968 and ruled until 1998. Newly born democracy(1999 - present).
[4] Economic Background Amongst top 20 economies of world. Average 6% GDP growth since 2003. Biggest exporter of Palm oil, coal and rich in natural gas. Tourism is a major source of economy.
[5] Facts supporting credit card launch Citibanks is present in Jakarta since 1968. As per Mckinsey 2013 report, Consumer class in Indonesia is growing phenomenally by adding 5 million consumers every year, which is equal to the total population of Singapore. Islamic banks are only 2% of the total national banking and 1.6% of Muslims in the country are using Islamic credit card (Misbach, 2013).Only one local bank is into Islamic credit card,Bank Danamon Syariah.
[6] Facts supporting credit card launch As per a Nielsen survey, in the recent economical crisis, the citizens remained confident in their economy and were still spending. Indonesians are family oriented people and spend lot of time with family in outings and shopping. Growing middle class: MAC (Middle class and affluent customers) population in Indonesia is approximately 74 million which represents almost 30% of the countrys population Consumers inclination towards imported products has seen 100% growth between the years 2005 & 2008(Central Bureau of Statistics Indonesia, 2010) Indonesias credit rating as per S & P is BB+, which is considered to be a stable credit rating worldwide.
[7] Facts supporting credit card launch The middle class has disposable income and decent purchasing power which motivates them to spend more. Source: Euromonitor International from national statistics Note: Data for 2012-2020 are Forecasts; Household annual disposable income data are in constant values
[8] Competitors Bank Card Type Annual Income(Minimum) Annual Fee HSBC Visa Signature $18,500 $90 HSBC Visa Platinum $14,000 $ 60 BRI MasterCard Silver $ 3150 $12 BTN Visa Classic $ 3200 $15 BNI Visa Silver $ 3250 $ 15
[9] Target customers Middle class consumers will be targeted with basic Citicard. Credit card with low limit for students working part-time. Islamic card which is Sharia compliant for the majority Islamic population. Consumers in the top income bracket, will be targeted with premium services like CitiPlatinum & CitiGold.
[10] Action plan Survey Designing the card Market Plan Pre-Launch Survey to identify specific needs of the targeted consumers Matching the Credit Card features and benefits as per the identified needs. Pre launch advertisements, road shows, sales blitz. 90 days before launch 60 days before launch Start 45 days before launch and continue 90 days post launch
[11] Pre-Launch Survey Plan Monthly expenditure using credit card Number of credit card in the family Which Places credit card used Expected credit period Expected interest rate A local consulting company will carry out the research to identify the needs of the target consumers in order to tailor make the credit card policies and features. Following data will be collected: .
[12] Marketing Plan Direct marketing Advertisements will be done via e-mails, text messages Existing database and databank from a third party will be used. Advertising on social media and e-commerce websites. Various catalogues will also be distributed along with the promotional letters.
[13] Marketing Plan Direct marketing Road-shows will be organized in corporate areas and malls. Special incentives and branded gifts will be given to the winners of various spot quizzes during the road shows. Special promotions teasers will be announced just before the launch. First hundred members will be upgraded to Citigold at the price of silver card.
[14] Conclusion The present timing is right as Asia is now the new power house of world economy and close proximity with China and India is a great boon for this economy and our launch. This young democracy will very well compliment to the foreign companies launching their products and services. The launch will be a big step towards increasing the footprint of Citibanks global expansion and will add up to our profits significantly. Careful execution of strategies and marketing plan will make this very much needed launch a grand success.
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Indonesia citi bank

  • 1. Presented by: Abhishek Sharma Pujit Chanana Proposal: Launching the Credit Card in Indonesia
  • 2. [2] Socio-Cultural Background Worlds 4th most populated country (252 million +). Largest Islamic country in the world (80% Muslims). Secular state with minority population of Christians, Hindus, Buddhist.
  • 3. [3] Political Background Former Dutch colony until 1949. President Sukarnos autocratic rule from 1949 to 1968. General Suharto replaced President Sukarno in 1968 and ruled until 1998. Newly born democracy(1999 - present).
  • 4. [4] Economic Background Amongst top 20 economies of world. Average 6% GDP growth since 2003. Biggest exporter of Palm oil, coal and rich in natural gas. Tourism is a major source of economy.
  • 5. [5] Facts supporting credit card launch Citibanks is present in Jakarta since 1968. As per Mckinsey 2013 report, Consumer class in Indonesia is growing phenomenally by adding 5 million consumers every year, which is equal to the total population of Singapore. Islamic banks are only 2% of the total national banking and 1.6% of Muslims in the country are using Islamic credit card (Misbach, 2013).Only one local bank is into Islamic credit card,Bank Danamon Syariah.
  • 6. [6] Facts supporting credit card launch As per a Nielsen survey, in the recent economical crisis, the citizens remained confident in their economy and were still spending. Indonesians are family oriented people and spend lot of time with family in outings and shopping. Growing middle class: MAC (Middle class and affluent customers) population in Indonesia is approximately 74 million which represents almost 30% of the countrys population Consumers inclination towards imported products has seen 100% growth between the years 2005 & 2008(Central Bureau of Statistics Indonesia, 2010) Indonesias credit rating as per S & P is BB+, which is considered to be a stable credit rating worldwide.
  • 7. [7] Facts supporting credit card launch The middle class has disposable income and decent purchasing power which motivates them to spend more. Source: Euromonitor International from national statistics Note: Data for 2012-2020 are Forecasts; Household annual disposable income data are in constant values
  • 8. [8] Competitors Bank Card Type Annual Income(Minimum) Annual Fee HSBC Visa Signature $18,500 $90 HSBC Visa Platinum $14,000 $ 60 BRI MasterCard Silver $ 3150 $12 BTN Visa Classic $ 3200 $15 BNI Visa Silver $ 3250 $ 15
  • 9. [9] Target customers Middle class consumers will be targeted with basic Citicard. Credit card with low limit for students working part-time. Islamic card which is Sharia compliant for the majority Islamic population. Consumers in the top income bracket, will be targeted with premium services like CitiPlatinum & CitiGold.
  • 10. [10] Action plan Survey Designing the card Market Plan Pre-Launch Survey to identify specific needs of the targeted consumers Matching the Credit Card features and benefits as per the identified needs. Pre launch advertisements, road shows, sales blitz. 90 days before launch 60 days before launch Start 45 days before launch and continue 90 days post launch
  • 11. [11] Pre-Launch Survey Plan Monthly expenditure using credit card Number of credit card in the family Which Places credit card used Expected credit period Expected interest rate A local consulting company will carry out the research to identify the needs of the target consumers in order to tailor make the credit card policies and features. Following data will be collected: .
  • 12. [12] Marketing Plan Direct marketing Advertisements will be done via e-mails, text messages Existing database and databank from a third party will be used. Advertising on social media and e-commerce websites. Various catalogues will also be distributed along with the promotional letters.
  • 13. [13] Marketing Plan Direct marketing Road-shows will be organized in corporate areas and malls. Special incentives and branded gifts will be given to the winners of various spot quizzes during the road shows. Special promotions teasers will be announced just before the launch. First hundred members will be upgraded to Citigold at the price of silver card.
  • 14. [14] Conclusion The present timing is right as Asia is now the new power house of world economy and close proximity with China and India is a great boon for this economy and our launch. This young democracy will very well compliment to the foreign companies launching their products and services. The launch will be a big step towards increasing the footprint of Citibanks global expansion and will add up to our profits significantly. Careful execution of strategies and marketing plan will make this very much needed launch a grand success.