There are many key questions that need to be answered in this decision. Although the foremost important question is should Citibank launch the card product in the Asia Pacific Rim and in what particular countries? The answer we came up with to this question is a yes to all of the countries with the exception of Korea. Another key question is: How should the card be launched to certain countries based on marketing and economic information? The key question here becomes: How do we convince our country managers to accept the product, while at the same time convince the company's U.S. headquarters to accept the project. We will provide our analysis on a country-by-country basis ending with a total breakeven analysis. India, Indonesia, Malaysia, Philippines, Singapore, Thailand and Taiwan (yes launch). The economies of these countries are growing at a very rapid pace. These countries also have a low per capita income, yet this is due to the fact that wealth is basically based upon the extremely rich, upper middle and emerging middle classes. Citibank's added value services in these countries already include the innovative NRI program; this program helped Citibank develop relations with the Indian government by helping its Central Bank procure foreign currencies. We believe that we at Citibank must move forward using two approaches within these launches. The first of our efforts would be a Citibank classic card, which would be geared toward the emerging middle class. The features and benefits of this product can include wide acceptance in the country without carrying cash and payment options. The second effort would be geared to the upscale customers that the Citibank is already doing business with. The features and benefits of a "preferred card option" would include: no pre-set spending limits, gold option (with 100,000 minimum relationship balance.). These two efforts will set apart our cardholders by status and doesn't turn our card into an everyday commodity.
