How Did a Newly Launched Brand Combat the Economic Crisis?

How Did a Newly Launched Brand Combat the Economic Crisis?

  • Case
  • Teaching Notes

Prior to the end of 1990s, Turkish banking was considered to be a profession of money transactions within the Turkish banking system. However, by the end of 1990s, retail banking started to become the center of attention, leading banks to become much more customer oriented. In particular, Garanti Bank started concentrating its efforts on credit cards and formed a separate company in October 1999 called Garanti Payment Systems (GPS) to manage its credit card business, with more direct links to consumers. As a result, Garanti Bank launched the Bonus Card under its own brand, Bonus, on April 15, 2000. The card had an EMV (European Master Visa) chip, as well as multi-branded chip-based attributes, and enabled novel Customer Relations Management (CRM) opportunities for its time. ...

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