Note:
Do not use any outside research whatsoever.
All research is contained within the case PDF. Please provide your own, original analysis.
Read the case study PDF: Chase Sapphire- Creating a Millennial Cult Brand in order to complete this assignment.
Please answer the following (in a Case Study / written paper format using full sentences and prose (NOT bullet points)):
In completing the case please make sure to answer the following in your paper.
Note: Remember to reference the case’s attached exhibits and financials were relevant.
Do NOT use first person (“I” or “me” forms of speech) in writing a case document
Perform a brand analysis of Chase using the case documents and the brand pyramid. Your analysis should mirror your work from the discussion board assignment as follows:
SALIENCE (Category)
Needs this category fulfills for target segments
Recognition – how is Chase recognized and regarded within its category by target segments?
PERFORMANCE & JUDGEMENTS
Features & Functional – what features do target segments like about Chase and its product(s)?
Design (elements that we know matter)
Describe Chase’s design and how your brand’s 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.
(From video: 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
Emotional Connection – describe the emotional fulfillment target segments receive from Chase
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?
2. Based on your 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 based on your answers 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? Back your answers with information from the case.
Recommendations
Given competitor responses and the possible opportunities for Chase after successfully being in the market a while, make at least three strategic recommendations to senior management on what you think is the best path forward and back your answer with case information.
https://vimeo.com/508084216/dc5f468463?embedded=true&source=video_title&owner=23704230
https://vimeo.com/508085187/99f3568e12?embedded=true&source=video_title&owner=23704230
https://vimeo.com/508085611/3946bae1ba?embedded=true&source=video_title&owner=23704230
