Anz Case Study Essay examples
The ANZ bank’s venture into China focuses on private consumer and corporate banking for business activity between Australia and China reflecting their strengths and core competencies in Australia. Accessing these markets and delivering what they have set out to do will be the largest challenge for ANZ. The purpose of this report is to assess key issues and provide alternative solutions to ensure the success of ANZ’s venture into China. China is a highly competitive environment; ANZ must differentiate themselves from others in order to gain a niche market. ANZ should use their core competencies to take advantage of the gap that currently exists within the market and focus on providing high customer satisfaction, …show more content…
2.2.2 Prestigious rewards
Another strategy ANZ should consider when communicating the image of superiority, is to reward ANZ customers with the types of activities and gifts that the growing middle class like to associate themselves with. These kinds of incentives can include nights in luxury hotels, shopping vouchers in high-class shopping malls and theatre tickets. This kind of reward system will help ANZ to distinguish themselves from their competition as well as keeping customers loyal to the brand.
2.2.3 Brand Ambassador
Using a Chinese brand ambassador to promote ANZ in China is an effective way to build brand recognition and trust amongst consumers. Chinese consumers can associate the foreign brand with a local inspiration, and consumers will then start to develop trust and show approval towards the previously unknown company