This paper describes the challenges facing a new bank launch in New Zealand in 2002, including switching inertia in the banking market, potentially damaging public perceptions of the bank and budget limitations.
Kiwibank Launch Campaign
Agency: Redrocks
Advertising Ltd
Advertiser: Kiwibank Ltd
Awards: New Product or
Service Introduction (Bronze)
Marketing Challenge
Background
A business case for the
launch of a new bank from New Zealand Post was presented to Government in
September 2000 and approved in February 2001. This new bank was to be part of
the
New ZealandPost group of companies and as such, a State Owned Enterprise. For the year
prior to its launch, there was a lot of speculation and political debate about
whether the Government should get involved in any way in the...