Market research and product development

Citi Global Consumer Bank

Prepared by-

Indresh kumar shah

These materials were produced for Forage and are to be used for educational and training purposes only.
 Segmentation Analysis
Segment: Millennials

Demographic trends
• Generation of digital payment and techonology adaptive

• Leading user of digital methods of payments methods.

• Have great experience of growing market and day to day competition faced by the business.

Behavioural and Lifestyle trends

• In today’s world people like to use credit cards or especially wallets to pay for the utilities.

• People are adaptive to of paying now and paying later. So, they are in search of finance for short term,.

• New generation will be also adaptive and a great user of the digital payments.

These materials were produced for Forage and are to be used for educational and training purposes only.
 Competitive Analysis
Company Name Paytm Yes bank Jio

• Paytm enables the user to pay via • Has wallet option to add money through
• Major company in telecom regulator with self
postpaid money and pay them later. cards and pay utilities within the app.
• Paytm enables the user to pay at • Provides virtual debit card to pay using wallet enable for utility payments.
• Enables user to use banking products like UPI,
Core Competencies different outlets and number of the card details on all other many only
debit card via Jio payments bank.
online websites. websites. • Enables the users to pay on nuber of online
• Paytm enables the user to pay for all • Enables the user to pay via UPI within
services from one individual app. same app. merchants using the jio money wallet.

Physical product selling and acting as Saving account and al other major banking
Main product/service digital payment method. products.
Telecom service providers.

Paytm was a wallet earlier which was

launched to provide services like Jio is a telecom service providers and started
paying bills and recharges using paytm Yes bank is Indian private sector bank business with telecom now it has its own wallet like
wallet but later it launched paytm which provides all banking products like jio money which enables user to pay on several
Product Description saving accounts, fixed deposites , loans
payments bank that enables the user websites and outlets and Jio has recently launched
Provide a brief description of the product
now to do fixed deposite , credit card and many other products. its banking product called Jio payments bank which
Also yes bank has its own wallet for
service and using upi and debit cards. paying utilities and bills. enables the user to use debit card , saving
Now, they are providing all the services accounts. UPI ,etc.
in one app.

• Option of paying for recharges , bill

payments , etc in one app.
• Option to use of banking product in • Option of paying for recharges , bill
one app like saving deposite, Fixed • Options to use wallet to pay for different services
payments , etc in one app and earning
deposite , etc. reward points and cashbacks. within one app.
Key Features • Option to use of banking product in one • Options to use banking products in one app.
• Options to use postpaid money use • Options to pay using wallet money to different
app like saving deposite , Fixed
now pay later and wallet option to deposite , etc. online and offline merchants and earning
pay using wallet money at different cashbacks.
online and offline merchants and
earning cashback on such
payments..

These materials were produced for Forage and are to be used for educational and training purposes only.
 Business Recommendation
Name Digital wallet (Prepaid and Postpaid).

A new digital wallet within the Citi bank app that has option to add money using debit card or upi or credit card
Description and amount of wallet can be used to pay for recharge and bill payments within the app. Not onlt this also provide
option of postpaid option to users having good cibil score and grant them some amount of loan in wallet which
can be used by customer and can be repaid back within fixed time like 15 days or 30 days.

• Provide the option of paying for recharges and bills within app using postpaid money or wallet balance
within one app.
• Provide the user to use postpaid money and repay back within a fixed time so that if customer has no money
Key Features even than he can pay for utilities.
• Enable the user to pay using the wallet balance to other merchant websites either through virtual debit card
launched for that wallet or wallet payment option.

• This will allow the users to use citi bank app for paying their bills and utilities and will retain customers for this
services instead of using other platform than citi bank platform for same service.

• This will allow users to get a postpaid money from citi bank and allow the citi bank to get potential customer
for loan product. As when citi bank will grant money in form of postpaid balance in wallet it will help help
bank to know whether users pays the postpaid money used by him/her in time which will increase the
customer credit score and if same customer need high loan amount citi bank will having existing data of that
customer.
Why your business • This will allow the citi bank to attract a new range of customer which uses wallets for payments.
recommendation is a good
solution? • This will also help citi bank to earn interest on the postpaid amount if client does not pays the amount of
postpaid balance used by them within time.
• This will also help citi bank to earn money in the form of processing fees from the merchants of bills and
utilities.
• This will also help citi bank to attract that customer to whom citi bank does not provide credit card by
providing them postpaid credit to that customer.
• It will increase the customer base as well as the income of the citi bank.

These materials were produced for Forage and are to be used for educational and training purposes only.