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ITM Bachelor 3. Sem. |
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Sinus Milieus III: Example Bank Austria in Austria and in Eastern Central Europe
"On 12 August 2002, the two largest Austrian banks, BankAustria AG and Creditanstalt AG, were merged into a new bank: BankAustria Creditanstalt AG. On account of the banks’ different histories – one main root of BankAustria is a local Viennese savings bank, whereas Creditanstalt was the classical bank for industry and the corporate sector – the positioning of the banks were quite different. Although both were universal banks, BankAustria held the position of a large mainstream bank “for everyone”, while Creditanstalt was generally regarded as the bank for corporates and upperclass retail customers. (...) For several reasons it was decided to merge the two banks by August 2002, and (..) faced the challenge to design and apply a new positioning approach that was as appealing as possible to potential customers, and, at the same time, caused a minimum of irritation among our existing customers (considering the large variety of target groups among customers of both banks)." (Krason, Mayr, Schipperges 2003 p.12)
LINK pdf file: Krason, Mayr, Schipperges 2003 (from p. 12)
"For (..) BankAustria Creditanstalt, the approach of the Sinus-Milieus was an excellent basis to identify and describe our target groups. (...) Based on this excellent experience, we decided to cross the Austrian borders into the Central and Eastern European markets where BankAustria Creditanstalt is operating and to use this tool for identifying the optimal segmentation and positioning approach for our subsidiaries in those markets." (Krason, Mayr, Schipperges 2003 p.17)
GROUP WORK: Q&A for group work
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Contact:
Prof. Dr. Wolfgang Georg Arlt FRGS |
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