Purpose
This assignment explores the identification of target market characteristics and the connections back to value and retention potential. This connects to course learning outcomes of recognizing factors that influence consumer behavior in the buying process and selecting best practice communication strategies that promote an offering to a target market.
Task
Use the Marketing Spotlight (Chase Sapphire) content from Chapter 6 of your textbook to complete a marketing analysis. After reading, respond to questions by reflecting on the target market characteristics and communication objectives of the company. Communicate your responses in a Microsoft Word document formatted as a numbered prompt response. Your responses in total should be about two pages in length, single-spaced. Review the Marketing Analysis Rubric for more detailed grading information.
- Who are the customers targeted by Chase with the Sapphire card? What are the key value and profile characteristics of these customers?
- What value does the Sapphire card create for customers? From a customer's perspective, what are the pros and cons of the Sapphire card compared to other credit cards?
- What role did promotional incentives, such as bonus points, play in creating customer demand? Would millennials remain loyal customers once they had taken advantage of the initial offer? Would the Sapphire card continue to be attractive to millennials if its promotional incentives were reduced and became similar to other credit card offerings?
Remember to use content from Chapter 6 (and any previous chapters) to support your responses.