Presentation Final Monti
Transcript of Presentation Final Monti
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An Analysis on Marketing communication of American Express Credit Card
and its competitors in Bangladesh
Prepared By
M Maruf Hassan MontiPrepared for
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A credit card is a small plastic card issued to users as a system of payment.
cardholders can buy goods and services based on the promise to pay
user can borrow money for payment to a merchant or as a cash advance to
the user
sometimes cardholders can use it to make purchases through instalment
plan
Credit Card
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American Express is a diversified global financial services company founded in 1850.
Amex operates in 130 countries around the globe. The company is best known for its
credit card, charge card, and traveler's cheque businesses brand in the world
Founded 1850
Headquarters New York City, United States
Area served Worldwide
Industry Finance, insurance, and travel
agencies
Products Financial and travel services
Website www.americanexpress.com
Amex - as a Company
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Historically, American Express operated in the card business whereonly they issued American Express cards on their network
In 1996 American Express made a strategic decision to open up the
American Express network to other financial institutions and issuers
Global Network Services (GNS) was set up in 1997 to manage and
grow this new line of business which is seen to be one of the growth
areas for the company
GNS has no direct access to the customer Amex serves as a network
As of today, there are 110 partners on the network in around 130
countries. They are focused on strategic partnerships
Amex is known for innovation and flexibility
Amex - as a Company
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The American Express brand is a unique and extremely powerful tool to attract
and acquire high spending customers.BusinessWeek and Interbrand ranked American Express as the 22nd most
valuable brand in the world.
TRUST & INTEGRITY
by treating customers fairly & honestly
CUSTOMER COMMITMENT
providing superior service, benefits & extraordinarysupport whenever required
WORLD-WIDE SECURITY
a safety net wherever customers are and
whenever they need help
SIGNALS SUCCESS
by helping customers reach their goals and by giving
them the tools to attain even greater
success
QUALITY
the highest quality in services & products,
outstanding value for price
American Express Brand Attributes
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On 7th November 2009 City Bank introduced American Express Credit
Cards in Bangladesh.
It was introduced to the national media on 7th November 11am at Westin,
Dhaka through Meet the Press. Top members of national media that
includes the Business editors from Press, Radio and Website were present
on that ceremony.
The Grand Launch event was held at Radisson WaterGarden Hotel on
the same day at 7pm in presence of Bangladesh Bank Governor and the
VIPs of the society.
Amex-Launch in Bangladesh
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Gold
Amex Credit Card in Bangladesh
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American Express
Gold Credit Card features and benefits:
Complimentary CompanionAir Tickets to Kolkata
Access to the American ExpressAirport Lounge
American Express Fast Track channel at airport immigration
Complimentary Dining at The Westin Dhaka
6% Cash Back at Nandan andA
gora
American Express Credit Card features and benefits:
Complimentary coach tickets to Cox's Bazaar
Complimentary Theme Park Tickets
6% Cash Back at Nandan and Agora
American Express SelectsTM
Amex Gold and GB card Features
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ATL communications
American Express Credit Cards were introduced in 2 major dailies ofBangladesh with a clutter breaking ad which taken the market bystorm on 8th Nov 09
The press ad was a 4 page jacket based on the History ofAmericanExpress heritage, Strategic benefits and the partnership between CityBank and American Express hand holding and the Selects Privileges
The selected news paper was Prothom Alo & The Daily Star; themost circulated newspapers in Bangladesh
Half page (80 CI) ads on 8 top newspapers has also been placed todeclare the introduction in Bangladesh on the same day
Communication Strategy of Amex
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Newspaper Jacket Ad
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American Express Heritage newspaper ad
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Half page newspaper ad with
Strategic Benefits
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Generic newspaper ads with the communication of card benefitsappeared on newspapers in 40 CI (columns-inches)
GenericNewspaper ads
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All the strategic benefits 40 CI ads appeared on newspapers till Jan 2010.
Strategic Benefits Newspaper ads
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American Express SELECTS
Newspaper ad
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43 Billboards in 4 divisional city
Dhaka, Chittagong, Sylhet &
Khulna showed the American
Express heritage and City Bank
introduces AMEX in Bangladesh
form 7th November to 14thJanuary 2010
Out of Home Communications
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Mega signs at different part
of the city shown AMEX
and City Bank logo
subsequently under brand
the blue campaign.
Mega Signs
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Apart form the billboardsand mega signs 7 mega
balloons bearing City
and American Express
logos side by side form
8th Nov to 23rd of
Nov09.
Mega Balloons
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City Bank- American Expressbranded the Hazrat ShahjalalInternational Airport with
54 check in counter desks
Arrival and Departure Immigration
counter desks and desk over headFast Track channel for City Bank
American Express cardmembers
Balaka Lounge with X standbanners and tent cards.
(City Bank- American Express lounge will beinoperation from16th of August)
International Airport Branding
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Out of 87 branches 50 prominent City Bank branches were branded with thefollowing branding materials.
Tent Card (Apply Today)Glass poster (Product Benefits)X stand banner (Apply Today)Brochures with stand (Short product brochure)
47ATM booths were branded with
Glass StickerOver Head fasciaSandwich poster inside the booth (AMEX heritage & Apply today)ATM display shows Apply today
More than 134 Q-cashA
TM booths bearing cards acceptance sticker on thefront face of the booth.
BTL Communications
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Amex has total 7 Strategic Partner as..Dhaka Westin, Jet Airways, Baghdad Express, Nandan Megashop, Agora
Superstore, Fantasy Kingdom, Balaka Lounge at Hazrat Shahjalal Int.
Airport.
POP materials X-stand banners, Posters, Cards welcome decals and Tent
cards are placed at strategic merchant points.
Strategic Partners POS branding
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All together 70 SELECTS merchants with 118 outlet.
SELECTS customized PoP materials:X-stand bannersMenu Stand (dining only)Wall posterTent card
Reserved sign (dining only)Bill folder (dining only)
SELECTS Merchants Branding
with POP materials
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Co-signages & Light Box
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City Bank-American Express pro golfChampionship 2010: City Bank &American Express held a professional golf tournament to drive credit card
sales among the top notch of the society who were into golf playing
US trade fair2010: American Express
stall at US trade fair has also
contributed significantly
to promote the experiential marketingactivity ofAmerican Express
More brand building at BTL
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The Genious of Valmiki - a musical drama: Amex madetheir entry to the Art and Cultural arena of the country with
the sponsorship of the genious of Valimiki the first
musical opera of the
country on March 12, 2010
Evolution ofSaris:
City Bank & AmericanExpress showcased a
fashion show entitled
The Evolution of Sharis
in the subcontinent over100 yearsat Ahsan Manjil
More brand building at BTL
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SWOT Analysis
SWOT Analysis of American Express
STRENGTHS
Strong financial background
Global brand-Heritage of 150
years
Global reach & presence
Strong brand equity
2480 POS machine and 1760
merchant
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SWOT AnalysisSWOT Analysis ofAmerican Express
WEAKNESSES
Higher merchant rate
Weak network(inability to work
in offline )
Sales team is not well
sophisticated
Intl. Amex card is not accepted
in BD.
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SWOT AnalysisSWOT Analysis ofAmerican Express
OPPORTUNITIES
Credit card is becoming more
associated with lifestyle
Unsaturated market
Socio-economic condition
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SWOT AnalysisSWOT Analysis ofAmerican Express
THREATS
Competition from other
financial institutions
Govt. intervention
Possibility of new
entrance.(Visa/Master Card)
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Creditcardtype
Visa user dominant due to demand
Master Card holders are present but in selected outlets
Competitivescenariosummary
SCB gives standard service rest are rated poor
In terms of pricing SCB is high and rest are lower
Card Market
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Standard Chartered Platinum Card
Brac Bank VISAGold Card
EBL Platinum VISA Card
Competitors
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Amex 2620
0
B 15000
0
BRAC, 5500
0
EBL, 23000
UCB, 21000
Credit Card Users in Bangladesh
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InstaBuys @ 0%
Instalment plan that allows carmembers to convert any
retail purchase over Tk. 3,000
Free@18
Cardmembers can get 100% waiver on their next Annual
Fee by doing only 18 transactions during the 12 month period between 2
Annual Fee dates.
Auto BillsPay
cardmembers no longer have to stand in long queues for paying their
monthly bills of Electricity,Mobile Phone Internet.
CardCheque
Card Cheque (Account Payee only) for payment to any person or
establishment within Bangladesh. .
Benefits Of SCB Credit Card
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Lower Interest Rate: at 2.17% per month where a regular card is charged at2.5% per month.
Balance Transfer at 20%: able to transfer cardmembers current other bank
Card outstanding balance at 20% annual interest to their EBL Visa Platinum
Credit Card.
Travel Accident Insurance: EBL Visa Platinum cardholders are
automatically entitled to a minimum coverage of BDT 10,00,000 for TravelAccident Insurance.
Emergency medical assistance: provides cardholder with contact details of
physicians, hospitals, clinics, dentists and dental clinics.
FreeFirstCardCheque:cardholder enjoy a full-fledged cheque book
facility.
Benefits of EBL Platinum Card
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CardchequeFacility:with a reduced interest rate of 27% against their
credit card limit
FAST RewardsProgram:allows carmembers to earn some points every
time whenever they spend their money through POS
Balance Transfer:cardmembers have the option to transfer their current
outstanding balance at a much cheaper rate of 22% to their BBL Credit
Card.
PayFlex: Installment program that allows Cardmembers purchase from
selected PayFlex partner outlets for 0% interest
Benefits Of BRAC Visa Gold Card
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Competitive Scenario in Media
Brac, UCB, Prime have limited media presence in Press, Magazines, FM
radio and TV
Among the lot BRAC and EBL has come up with specific brand identity
SCBs business volume is high and the TA already know them as leader.
Their exposures include CSR, Golf, Magazines, presence in clubs and
outlets widely
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Communication of Brac Bank
Brac bank come up with ATL communication strategy
TV ad
PressAd
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Communication of Brac Bank
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A Bank with Difference
Get more from life
Spend in Style Free life insurance benefit package
Communication of Prime Bank
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SCBs communication
Prestige, Pride & Strength
In welcome guide You want a smooth life, we help you sail through it
In Rewards Catalogue
You choose the right partner, we reward the partnership
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EBL Billboard
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Press Ads of EBL
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EBL
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Press Ads of EBL
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Trained up Sales Team
Card members should recommend new merchants
New demand could be established by operating more in general
utility arena
The existing service level can be enhanced (Full Travel Package)
The number of POS machines should be increased and network
coverage should be uninterrupted
As Amex always focuses on strategic partners SELECTS should
add more partners with them.
.
Recommendations
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Financial control through online to track all financial accounts
Develop network service on POS machine
Providing Superior Customer service
Life Style Assistance for card members
Need more activation for the card members to create word of mouth
Need more BTL activities and taking advantages of ATL through
these.(e.g. The Genious of Valmiki, Evolution of Saris etc.)
City Bank should motivate their card members through rewarding
them
Should reduce income requirements of the card members.
Recommendations
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THANK YOU
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QUESTIONS