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    Chase Sapphire: Creating A Millennial Cult Brand: Group 10

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    Sumit Gaurav
    Chase is looking to rebrand their credit cards to appeal more to millennial customers and create long-term relationships. They currently have three Chase Sapphire cards but are concerned about brand cannibalization. The recommendation is to modify the Chase Sapphire Reserve by increasing its annual fee and perks to further differentiate it. The other two cards would remain unchanged. Additional benefits and a community platform are proposed to justify higher prices and keep customers engaged with the brand over time.

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    Chase Sapphire: Creating A Millennial Cult Brand: Group 10

    Uploaded by

    Sumit Gaurav
    132 views7 pages
    Chase is looking to rebrand their credit cards to appeal more to millennial customers and create long-term relationships. They currently have three Chase Sapphire cards but are concerned about brand cannibalization. The recommendation is to modify the Chase Sapphire Reserve by increasing its annual fee and perks to further differentiate it. The other two cards would remain unchanged. Additional benefits and a community platform are proposed to justify higher prices and keep customers engaged with the brand over time.

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    Group10_Case7

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    Chase is looking to rebrand their credit cards to appeal more to millennial customers and create long-term relationships. They currently have three Chase Sapphire cards but are concerned about brand cannibalization. The recommendation is to modify the Chase Sapphire Reserve by increasing its annual fee and perks to further differentiate it. The other two cards would remain unchanged. Additional benefits and a community platform are proposed to justify higher prices and keep customers engaged with the brand over time.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    132 views7 pages

    Chase Sapphire: Creating A Millennial Cult Brand: Group 10

    Uploaded by

    Sumit Gaurav
    Chase is looking to rebrand their credit cards to appeal more to millennial customers and create long-term relationships. They currently have three Chase Sapphire cards but are concerned about brand cannibalization. The recommendation is to modify the Chase Sapphire Reserve by increasing its annual fee and perks to further differentiate it. The other two cards would remain unchanged. Additional benefits and a community platform are proposed to justify higher prices and keep customers engaged with the brand over time.

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    © All Rights Reserved
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    You are on page 1of 7

    Chase Sapphire:

    Creating a Millennial
    Cult Brand

    Group 10
    5C Analysis
    Company Customers Competitors Collaboration Context
    JP Morgan Chase: Affluent & Amex(19.9%) TV personalities Re branding
    Chase Sapphire - emerging affluent credit cards for
    21.7% market customers Citigroup(11.5%) Photographers Millennials to
    share looking for create value
    rewards and Capital Food & travel
    One(11%) creators proposition and
    benefits
    long term
    Bank of Network relationship
    America(8.9%) Providers
    Discover(4.7%) Restaurants
    Debit card issuers Media Platforms
    & influencers
    Decision Problem
    Heavy cluster due to multiple sub-brands and similar tangible sub-brands could
    cannibalize the brand, so the sub-brands have to be differentiated to retain customers
    in current segments.

    Way forward
    Modify, Innovate & Differentiate Chase Sapphire Portfolio
    Evaluation

    Credit Cards Chase Sapphire Chase Sapphire Chase Sapphire


    Preferred Reserve

    Current Features No annual fee,Low $95 annual fee,High $450 annual fee, High
    rewards, Low APR APR, High bonus APR, High bonus

    Recommended No change No change Increase annual fee,


    changes increase perks

    Pros Low APR Low fee and high Very high perks
    perks

    Consumer’s behavior Low usage/ dormants/ Moderate usage/ High usage/


    revolvers Transactors Transactors

    APR - Annual Percentage Rate


    Recommendation
    ● Modify Chase Sapphire reserve in the Sapphire portfolio
    ● Increasing annual fee and perks for the customers in Chase sapphire reserve
    ● No changes in the Chase Sapphire
    ● Additionally, provide better reward plans to customer, to keep their behaviour
    same
    ● Provide customers with space where they can share their experiences and stay
    connected to the brand
    ● Differentiate preferred and reserve customers to accommodate both
    Action Plan to Handle Negatives
    ● With increase in Chase Sapphire reserve prices, chance of decreased customer
    satisfaction
    ○ Make customer aware of the increased benefits with increase in price of
    the product
    ○ Provide rewards and build a strong network through communication
    Thank You

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