Visa card marketing
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19-Oct-2014 -
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Marketing
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Transcript of Visa card marketing
Marketing
Presentation by Rabbia TariqPrincipals of Marketing
Banking & Finance Foundation University Rawalpindi
Camp
IntroductionVisa roots started in 1958.The first consumer credit card program available
in US.Visa are global payment technology.Visa is every where you want to be.It connects consumer , business, banks &
Governments every where in the world .Visa card is used as digital money INSTEAD of
cash & checks.
Marketing Mix
Product: Credit Card with chip and pay Wave.
Pricing: Cards shall be accessible then from the related bank branches and alternative channels.
Promotion: Main bank programmed ( Final customer eliminates the card fee of the main bank, the most preferred main bank gets the %6 per cent of the total service fee).
Placing: Cards shall be accessible then from the related bank branches and alternative channels.
SEGMENTATION, TARGETING & POSITION
Market Segmentation: Alternative banking and credit solutions using.
Target Group: Credit card users has more than one All which credit cards and looking for payment solutions, and as a result, high consumption levels.
Positioning: The vast payment networks Visa & master card are Competitors . visa goal is to locate to maximize consumer of the potential benefit to the firm
Micro environmentIndividual marketing
Product, services & Brand of Visa card
visa card provide these product to satisfy the consumer need & want.
Level of productsCore customer value: visa card is easy to carry INSTEAD of
cash Actual product: Visa logo the familiar blue, white, and gold
stripes. Brand: the name Visa. In 1958 residents of Fresno,
California has received Bank Americard emblazoned with a variation on a flag theme. Packages: Visa card Provide special deals in discount of traveling.
Augmented product: visa services from dirty Effective verification of new security system That tells online retailers and banks That you are a genuine cardholder When you shop online. It Allows you to use a personal password to confirm your identity and protect your visa card.
Consumer ProductTypes of consumer product
convenience productRewards Visa Debit Card: offers convenience
and security and Allows you to earn rewards as you Spend
shopping product
Visa Classic, Visa Gold are shopping product price it focus on quality & branding
Specialty product
Visa Platinum : gives attractive lifestyle Visa Infinite : Enter a world of luxury and you
can Enjoy great spending power with a high credit limit.
Product Mix
WidthLargely similar evolution of product mix
Brand Sponsorship
CO BRAND7 of top Pakistan co brand
are majority with VISA mother care, Gloria jeans, Domino’s,DEBNAHAMS,CROCS, NINEWEST, TIMBERLAND, HANG CHANG(chinese restaurant)
New payment ParticipantActive engagements with strategic partner
Vodafone Visa will run a Vodafone-branded pre-paid card, so
users can load credit onto their phones to be used anywhere Visa PayWave is accepted.
Samsung Samsung and Visa have a new agreement that will
let you make credit card payments using Near Field Communication (NFC) chips in next-generation Samsung device.
Price adjustment strategies
Psychological pricing Visa card developed pricing based on consumer mind set Gold
is more expensive then silver this strategies shown on table
Segmented pricingHBL ATM Cash Withdrawal provide facility of Rs. 25,000 per
day for Silver CardRs. 50,000 per day for Gold Card
Discount & allowances pricing Visa gold /platinum card holder can enjoy 10% discount when
spend some quality time with friend and loves once over coffee and desert at Gloria jeans coffee, Pakistan offer valid till 30 June 2014
Promotional pricing IN Olympics games visa card provide special discount to its
customer On 11 may is a mother day As a Visa Gold or Platinum card holder
enjoy 10 per cent off on all regular priced items and indulge in the complete “Mother care” experience.
Visa Lifecycle
• Visa card is in Growth stage of the company life cycle in Pakistan.
• The reason behind this is progressing and achieving its aims and targets.
• Because of that it is in growth stage. the overall banking industry in Pakistan is at maturity stage.
• Due to the recent economic crisis and the current economic conditions of Pakistan.
Recommendation
• In Pakistan It is observed that the employees have lack of knowledge about visa card.
• visa card should properly advertise and Communicate to public about the services provided by it, so that more customers will be attracted.
• Company should give bankers a proper training of visa card. so that they understand the proper procedure.
• Majority of people does not know about role of visa company. they should make a special advertisement for people awareness
• Visa received bad reviews of Logo. They need to refreshes the logo
Conclusion Visa cards are useful because they provide you
with convenience and interest-free financing. You do not need to carry too much cash when shopping as most stores accept credit card payments along with discounts. When choosing a visa card, you should know about its benefits against its costs. In Pakistan only the gold & silver card are used or issued by banks. Consumer are happy to know the discount & offers they provides. Visa card made life easy for consumers.
Thank You