Description
Answer each of the following in narrative form.Create one essay.
Include marketing terminology. Be mindful of formal business writing, proper grammar, punctuation and sentence formation.Include in-text citations.
A.Begin with a paragraph synopsis.
B. What is your assessment of the product offered – the Chase Sapphire Reserve card?Is this a good product for JPMorgan Chase (JPMC)?For the Sapphire brand?
Analyze product strategy (the product’s design, features and benefits) as well as the company’s promotional strategy (the use of social media and its virality, the use of influencers
Relative Advantage?Compatibility? Complexity? Trialability, Observability?
Why has Chase Sapphire Reserve been so successful in acquiring customers?
The behavior of individual adopters of the card will vary in how much individuals spend, whether all charges are paid in full each month, and whether consumers churn (i.e., whether they renew cards annually).As noted in the case (see page 3) three customer architypes are presented – transactors, revolvers and dormants.Assuming the following for each type of customer, how can the Chase Sapphire team best design its product and brand to attract customers?
Is Chase Sapphire Reserve a cult brand?What if any changes are suggested to the marketing strategy of the card (product)?
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