Evaluate this case, and respond to each of the following questions using both theory and practical managerial thinking.
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 customers perspective, what are the pros and cons of the Sapphire card compared to other credit cards?
What role did promotional incentives, such as the 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?
Your Part 1 response must be at least two pages in length. Follow APA Style when creating citations and references for this assignment. Note that you will submit Part 1 and Part 2 in one document.
Complete a case analysis of Chase Sapphire. This requires that you conduct research on Chase Sapphire beyond the case study material in the textbook. In the case analysis, you will look at the situational analysis, problem, and alternatives, and you will provide a recommendation. Refer to the instructions below as you construct your analysis.
Discuss the external environment through the compilation of a PEST (political, economic, sociocultural, and technology) analysis.
Discuss the internal and external environment through the compilation of a SWOT (strengths, weaknesses, opportunities, and threats) analysis.
Identify at least one organizational problem that Chase Sapphire is currently having or one in which you project it will have in the future. Base this upon your research and critical thinking.
Compile three or four potential marketing-related solutions to the problem above. Remember that these are potential alternatives; you will not select all of the alternatives to solve the problem.
Recommendation (Marketing Strategy)
Select one or two of the alternatives above to solve the problem that you identified in this case analysis.
Discuss your rationale for choosing these and not the others. Include supporting research that will increase the depth of your analysis.