presentation final monti

Post on 08-Apr-2018

216 views

Category:

Documents

0 download

Embed Size (px)

TRANSCRIPT

  • 8/6/2019 Presentation Final Monti

    1/49

    An Analysis on Marketing communication of American Express Credit Card

    and its competitors in Bangladesh

    Prepared By

    M Maruf Hassan MontiPrepared for

  • 8/6/2019 Presentation Final Monti

    2/49

    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

  • 8/6/2019 Presentation Final Monti

    3/49

    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

  • 8/6/2019 Presentation Final Monti

    4/49

    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

  • 8/6/2019 Presentation Final Monti

    5/49

    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

  • 8/6/2019 Presentation Final Monti

    6/49

    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

  • 8/6/2019 Presentation Final Monti

    7/49

    Gold

    Amex Credit Card in Bangladesh

  • 8/6/2019 Presentation Final Monti

    8/49

    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

  • 8/6/2019 Presentation Final Monti

    9/49

    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

  • 8/6/2019 Presentation Final Monti

    10/49

    Newspaper Jacket Ad

  • 8/6/2019 Presentation Final Monti

    11/49

    American Express Heritage newspaper ad

  • 8/6/2019 Presentation Final Monti

    12/49

    Half page newspaper ad with

    Strategic Benefits

  • 8/6/2019 Presentation Final Monti

    13/49

    Generic newspaper ads with the communication of card benefitsappeared on newspapers in 40 CI (columns-inches)

    GenericNewspaper ads

  • 8/6/2019 Presentation Final Monti

    14/49

    All the strategic benefits 40 CI ads appeared on newspapers till Jan 2010.

    Strategic Benefits Newspaper ads

  • 8/6/2019 Presentation Final Monti

    15/49

    American Express SELECTS

    Newspaper ad

  • 8/6/2019 Presentation Final Monti

    16/49

    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

  • 8/6/2019 Presentation Final Monti

    17/49

    Mega signs at different part

    of the city shown AMEX

    and City Bank logo

    subsequently under brand

    the blue campaign.

    Mega Signs

  • 8/6/2019 Presentation Final Monti

    18/49

    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

  • 8/6/2019 Presentation Final Monti

    19/49

    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

  • 8/6/2019 Presentation Final Monti

    20/49

    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

  • 8/6/2019 Presentation Final Monti

    21/49

    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

  • 8/6/2019 Presentation Final Monti

    22/49

    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

  • 8/6/2019 Presentation Final Monti

    23/49

    Co-signages & Light Box

  • 8/6/2019 Presentation Final Monti

    24/49

    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

  • 8/6/2019 Presentation Final Monti

    25/49

    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

  • 8/6/2019 Presentation Final Monti

    26/49

    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

  • 8/6/2019 Presentation Final Monti

    27/49

    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.

  • 8/6/2019 Presentation Final Monti

    28/49

    SWOT AnalysisSWOT Analysis ofAmerican Express

    OPPORTUNITIES

    Credit card is becoming more

    associated with lifestyle

    Unsaturated market

    Socio-economic condition

  • 8/6/2019 Presentation Final Monti

    29/49

    SWOT AnalysisSWOT Analysis ofAmerican Express

    THREATS

    Competition from other

    financial institutions

    Govt. intervention

    Possibility of new

    entrance.(Visa/Master Card)

  • 8/6/2019 Presentation Final Monti

    30/49

    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

  • 8/6/2019 Presentation Final Monti

    31/49

    Standard Chartered Platinum Card

    Brac Bank VISAGold Card

    EBL Platinum VISA Card

    Competitors

  • 8/6/2019 Presentation Final Monti

    32/49

    Amex 2620

    0

    B 15000

    0

    BRAC, 5500

    0

    EBL, 23000

    UCB, 21000

    Credit Card Users in Bangladesh

  • 8/6/2019 Presentation Final Monti

    33/49

    InstaBuys @ 0%

    Instalment plan that allows carmembers to convert any

    retail purchase over Tk. 3,000

    [email protected]

    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

  • 8/6/2019 Presentation Final Monti

    34/49

    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

  • 8/6/2019 Presentation Final Monti

    35/49

    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

  • 8/6/2019 Presentation Final Monti

    36/49

    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

  • 8/6/2019 Presentation Final Monti

    37/49

    Communication of Brac Bank

    Brac bank come up with ATL communication strategy

    TV ad

    PressAd

  • 8/6/2019 Presentation Final Monti

    38/49

  • 8/6/2019 Presentation Final Monti

    39/49

    Communication of Brac Bank

  • 8/6/2019 Presentation Final Monti

    40/49

    A Bank with Difference

    Get more from life

    Spend in Style Free life insurance benefit package

    Communication of Prime Bank

  • 8/6/2019 Presentation Final Monti

    41/49

    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

  • 8/6/2019 Presentation Final Monti

    42/49

    EBL Billboard

  • 8/6/2019 Presentation Final Monti

    43/49

    Press Ads of EBL

  • 8/6/2019 Presentation Final Monti

    44/49

    EBL

  • 8/6/2019 Presentation Final Monti

    45/49

    Press Ads of EBL

  • 8/6/2019 Presentation Final Monti

    46/49

    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

  • 8/6/2019 Presentation Final Monti

    47/49

    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

  • 8/6/2019 Presentation Final Monti

    48/49

    THANK YOU

  • 8/6/2019 Presentation Final Monti

    49/49

    QUESTIONS