Categories
Marketing

Creating a Millennial Cult Brand

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
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 givem)?
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)
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?
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 a strategic recommendation to senior management on what you think is the best path forward and back your answer with case information.