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 (i.e., closed system) or also to non-customers (i.e., open system). It also has to deal with internal challenges (e.g., salesforce) regarding the new system.
Learning Objective
- Participants will learn when an organization should work with ecosystem partners to solve problems outside their traditional product boundaries.
- Participants will understand when to charge for services.
- Participants will learn whether to make an information system open or closed.
Keywords
Marketing Strategy, Digital, Ecosystem, Customer Journey, Customer Insight, Customer Engagement, Bank
Settings
New Zealand (Polynesia)
Bank of New Zealand, Finance and Insurance, Banking
2018-2020
Available Languages
English
Related material
Teaching note, Video
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