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Suncorp - Australia |
|---|---|
| Segment | Financial Market |
| Scenario | Changes in the market environment forced Suncorp to increase cost competitiveness, through economies of scale and downsizing. |
| Challenge | To merge three small financial institutions whilst preserving and incrementing the service differentials and customer-focused culture, which was a hallmark of each of them. |
| Strategy | To identity and deliver "world class" performance in a single critical aspect of the service, which was highly valued by customers and which no other competitor was able to deliver. To clearly publicize the service promises, concentrating on the aspects that had a positive impact on customers, a negative impact on the competition and were "sources of news". |
| Competitive Advantage | Differentiated services and improved processes. |
| Result | Market capitalization jumped from US$ 2.2 billion in 1996 to US$ 6 billion in 2002. Reduction in costs, higher added value for customers, increased profitability. |