Reference no: EM133222273

Assignment:

Chase Sapphire

1. SALIENCE (Category)

• Needs this category fulfills for target segments
• Recognition - how is Chase recognized and regarded within its category by target segments?

2. PERFORMANCE & JUDGEMENTS

a. Features & Functional - what features do target segments like about Chase and its product(s)?

b. Design (elements that we know matter)

Describe Chase's design and how Dr.Martens design differentiates and what it communicates

Fighting brand confusion: What we need them to know/believe (incl. brand "truths") that they aren't aware of or are confused regarding and describe how the brand can help communicate that fact better.

• (Think Keurig where some customers believe Keurig has instant coffee in their k-cups instead of high quality grounds. The company needs to change this perception. This can also be something the company does well but not enough customers are aware)

FEELINGS & IMAGERY

a. Emotional Connection - describe the emotional fulfillment target segments receive from Chase

b. Social Connections - what social value does Chase deliver to target segments? (Think Prius and how it allows customers to communicate they are "green" just by driving such a unique looking vehicle)

• Remember social media matters here
• Image - How would you describe Chase's image?

4. Based on the brand pyramid analysis what are your recommendations for Chase?

• Are there gaps?
• Should they be doing anything differently?

Overview

• What was the general market for credit card offerings and where was Chase looking to compete?
• How did the Sapphire concept sit with Chase's existing product offerings and why was Sapphire an offering the market needed?

Customers

• Describe the landscape of segments for credit card customers and where is Chase's best opportunity for the Sapphire?
• Who are the most ideal customers for the Chase Sapphire card and what are their expectations of a credit card offering?
• Please pay special attention to Dormants (people who use and shelve the card) and churners (people who rack up points and leave the service). If there are other segments please find them.

Challenges

• What defines success for Chase in launching Sapphire (besides getting as many subscribers/cardholders as possible which is a given)?
• What are churners and why do they present a challenge?
• What challenges to dormants pose?
• If you have uncovered other segments, what challenges do they pose to the success of this card?
• What were the challenges in designing Sapphire to appeal to key segments?
• How did Chase answer these challenges and fulfill customer expectations at the same time? (pay special attention to the Millennial and millennial-minded base)
• Remember to refer back to your brand pyramid too

GTM (go-to-market) strategy

• How did Chase market the Sapphire and why (or why not) do you believe it maximized effectiveness? Could they have done something better?
• Remember to leverage learnings from your brand pyramid
• Why or why not do you consider Chase Sapphire to be a success?

Recommendations

• Given competitor responses and the possible opportunities for Chase after successfully being in the market a while, what are three strategic recommendations to senior management on what is the best path forward.