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Case #7: Global Credit Card Company

Assignment: Global Brand Repositioning

Situation:

• There was a worldwide blurring of Client’s Card images that was limiting growth and profitability.
• Driven by price competition, the premium Card was being positioned differently by country/region.
• Consequently, the “Premier” position was not seen by cardholders, merchants or issuers to be significantly differentiated from competitive premium brands.
• Because no single brand/card had complete functionality to serve all financial needs, cardholders carried multiple cards as a hedge against rejection, credit limits and availability.
• Despite regional differences, a “premium” Card was still a preferred consumer product, but created expectations that needed to be better defined and clarified.

NECG Insight:

• Three elements defined the core brand building blocks of a revitalized “Premium” Card positioning:
  • Spending power — Financial empowerment.
  • Prestige — Individual empowerment.
  • Personalization — Unique personal treatment in terms of both usage and attitude.
• To build a sustainable, competitive point of difference, Client products had to demonstrate a clear top of line/premium image and offering.

Recommended Strategy:

• With the requirement to achieve a single-minded, global positioning framework, the NECG recommended that our “Premium” Card products be focused on representing the “new prestige” by emphasizing real and tangible benefits.
  • Real exclusivity — earned, not received free.
  • Real recognition — acceptance as a most valuable customer.
  • Real prestige — the best customers are worth it.
  • Real value — benefits of value to those who expect the best.
• Essentially, the Card would become the only major card that provided its cardholders with extra spending power, individual recognition as a valuable customer, and the personal attention to financial service they expected and valued.