CHASE SAPPHIRE CREATING A MILLENNIAL

CULT BRAND
BY GROUP 9
SEC D
Q1 -ASSESSMENT OF THE CHASE SAPPHIRE RESERVE CARD .
-GOOD PRODUCT FOR JPMC AND SAPPHIRE BRAND OR NOT ?

ANS-
- Most premium credit card facility by JP Morgan chase. Targeted wealthy people that were 25-
44 years , authentic travellers and have knowledge about rewards.
YES, IT IS A GOOD PRODUCT FOR THE BRAND AS
- The response from market was great as it created a buzz in the market and a positive word of
mouth and the annual acquisition goal was achieved in just 2 weeks.
- Provided maximum privilege as compared to other premium cards in market.
Q2 - REASON FOR SUCCESS OF SAPPHIRE RESERVE
- WILL THIS CONTINUE ? WHY OR WHY NOT ?

- CHANGES THAT I WOULD MAKE TO THE CUSTOMER ACQUISITION STRATEGY

ANS
- Successful due to various reasons like correct STP, Great After Sales Service, Focus on early month
of book consumers, change according to the customers needs.
- This will continue if they continue delivering customer expectations and fulfilling their demands.
- Change that I could make to customer acquisitions strategy would be:-

1. Utilizing new technologies in acquiring customers or digital payment interface to acquire more
customers.
Q3 - THREE CUSTOMER ARCHETYPES
- WHICH IS / ARE MORE ATTRACTIVE AND WHY?

ANS
• - Three Archetypes are Transactors 30% ( those who paid their balances off in full each month to
avoid paying interest fees) , Revolvers 43% (those who did not pay off their balances in full each
month) and Dormants 27% ( those who carried, but did not use their cards frequently)

• Revolvers and Dormants are more attractive as Revolvers are the ones from whom the company
receives interest and Dormants are those whom company needs to hook to gain profits.
Q4 – RESPONSE TO CHASE SAPPHIRE AS A COMPITITOR.
ANS

- As a competitor I would decrease the APR and target the High end customers who love to travel and
have a good knowledge about reward programs.
Q5 – LESSONS FROM THE CASE
ANS

- Keep adding products to the product portfolio.

- Proper STP is required to gain market share.
- Social media strategies can bring large number of customers base.