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Compact case
Subject category: Marketing
Published by:
IMD (2020)
Version:
13.02.2020
Revision date:
29-Apr-2020
Length:
5 pages
Data source:
Field research

Abstract

The Bank of New Zealand (BNZ)'s market share among Small and Medium Enterprises is declining. The new general manager discovers a pain point among SMEs - they are spending a couple of hours a day compiling information from different apps in order to manage their business. BNZ creates are new information portal with ecosystem partners called MyBusiness Live. This portal makes information available to SMEs in one simple dashboard. BNZ has to decide how to charge for the system and whether to make it accessible only to current customers (ie, closed system) or also to non-customers (ie, open system). It also has to deal with internal challenges (eg, salesforce) regarding the new system.

Topics

Marketing; Marketing strategy; Digital; Ecosystem; Customer journey; Customer insight; Customer engagement; Bank

Setting

The events covered by this item took place in 2018-2020.

Geographical setting

Country:
New Zealand

Featured company

Company name:
Bank of New Zealand
Industry:
Banking

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