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20twenty Case Study

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Strategic Management Assignment : 20tweny Case Study

Question 1 :

In order to gain competitive advantage in the banking industry, 20twenty applied the following Functional and Business-Level Strategies :

Functional – Level Strategies :

  1. Efficiency through great Marketing Strategy :
    • Aggressive Pricing Strategy (Flat Fee of R50 per month) attracted 9,720 new customers in 2 weeks, and 40,000 in 6 months - compared to Bluebean.com that signed up 12,000 in a year. Customers perceive banks to be expensive and are thus attracted to low banking fees.
    • Differentiated Product (one account vs many traditional accounts) and Services are personalized and service levels are high – attracts customers, as they perceive banks to have low service levels.
    • Aggressive Promotional Strategy communicated frequent, short, punchy slogans communicating brand values through all media (Print, Outdoor, TV & Radio,ect) to their target market. Guerrilla marketing efforts conveyed their passion, “converting” consumers.
    • Convenient channels means that consumers can now bank 24/7 through the on-line offering or the call center and not have to stand in long queues, limited to bank trading hours.

  2. Efficiency through great HR Strategy :
    • Hired bright, well-educated, lively and customer oriented individuals that could take initiative on behalf of the customer.
    • Individuals were passionate and full converts of the offering.
    • Created powerful ideologies and strong company culture that made employees different and special.

  3. Efficiency through great IT System :
    • On-line offering through efficient web-site

  4. Superior Innovation Strategy :
    • New, fresh and innovative approach to banking no-one has ever thought of allows leverage over boring, conservative traditional banking.

  5. Superior Responsiveness to Customers Strategy :
    • Value for money offering – low cost, high service is exactly what...

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