Business Plan Component


Section 3


Subject: Marketing


Company: Citigroup


Sources: http://www.hoovers.com/co/capsule/5/0,2163,58365,00.html


www.hoovers.com/co/capsule/5/0,2163,58365,00.html


Weekly Stock Prices: 37.62


Citigroup do not have offer products, but financial services. Since Citigroup is made up of many smaller companies, it provides many different types of financial services. It is hard to say that the corporation offers any sorts of products at all.


The pricing of Citigroup\'s financial services is full price and is very fair to their clients. They use subsidiaries cross-selling. "Citibank sends rejected applicants to a sub prime affiliate, Citifinancial, consumers who would qualify for lower rates". This is not referred by Citifinancial. Also, the Association of Community Organizations for Reform, also known as ACORN, expects Citigroup to ensure that its subsidiaries "remain competitive with each other", because in that way, the institution acts so that it provides the best possible to the consumer or the client.


Citigroup is the world\'s 2nd largest financial services firm. Citibank, part of Citigroup, is the first U.S. bank with more than one trillion dollars in assets. Citigroup offers banking through Citibank, insurance, asset management, insurance (Travelers Group), and investment banking in more than 2,600 locations. In the US alone, there are some 3000 offices. In other countries, there are over 100 offices. Nonetheless, Citigroup continues to be a leader in online financial services. Citigroup\'s offices are in the best locations. Recently in February of last year, Citibank acquired European American Banks, which means that the best locations on Long Island as well as in New York City had also been taken over by the bank. Citibank has 27 locations in Long Island and 96 branches in New York City so far.


Citigroup spends time in marketing because of the competition against Metlife, JP Morgan Chase, GEICO and more. Their main logo seen in their advertisements and commercials is the red umbrella that protects the consumer from a rainy day. The logo is associated with the Citigroup.


Market segmentation is when groups of people are selected who will mainly be attracted to certain products or services. There are georgraphic, demographic and psychographic variables to marget segmentation. It was hard to figure out exactly who Citigroup is concentrating on. For Citibank, people of all ages in the middle to low income families are targeted. For Citigroup, mostly big businesses such as Enron and one of Citigroup\'s biggest clients, Worldcom are focused on.