CitiBike, A service or A marketing campaign?

(I keep the diary to highlight the interesting marketing issue in my life and try to improve my sucking English.)

CitiBike, from the first sight on street, I thought it was a free service sponsored by Citi to provide better public transportation in NYC. Interestingly, it is not~. Instead, a $95 annual fee will be charged.

Well, having been a student in Beijing for about 6 years as a whole, I do not see NYC as a great city for riding a bike. NYC looks more like Chongqing, (my hometown) which has narrow streets and no bicycle lane. But New Yorkers seem to like anything about sports to label their lifestyle. I still remember the shocking scene in Central Park when I had a Sunday jogging for the first time in NYC.  You are an alien if you are walking there! Everybody is running or bicycling.

Anyway, from my perspective, this business will end up as a marketing campaign for Citibank. With more than 600 stations and 3000 bikes running in the city, every rider is doing an lively advertisement for Citi. But I have to admit, it is a great idea! But not sure how much profit can be driven by this. In my mind, Citibank does not have a great service as Chase. Definitely, service matters the most in consumer bank business.

Will keep an eye on this bike service as a walking lover.


Related website:
http://citibikenyc.com/