Credit Card_Group V

7/26/2019 Credit Card_Group V

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GROUP V

Tejashwi Kumar

Sweta SarojSubhodeep Saha

Prakhar Nagori

Kamal Nagvani

Akshay Gajghate


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Platinum Cricket/Football Card

from ABC Bank India has a huge urban working population

Credit cards play a crucial role in the daily life

It present a convenient and secure form of payment for consumers

This user-group also overlaps with a population which spends a lot of time

on the following:- Watch Cricket/Football on TV, with an interest to attend matches

Listen to Rock/Pop Music, with an interest to attend concerts

Active in the party circuit, with an interest to attend Page 3 parties

Cricket has been used as a medium to sell a plethora of products, and

build well-known brands, Coke/Pepsi, Microsoft Xbox 360 etc.

Similarly, Football has gained a lot of popularity lately, with the ongoing ISL

and the upcoming U17 FIFA World Cup


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STRENGTHS

i) Cricket loving fanswill be inclined more

easily

ii) As Bollywood also iskeenly involved the

chance to grab andattract Bollywood loversalso exists

iii) Add-on facilities willgive chances to attendhigh profile.

WEAKNESS

The target group other thancricket freaks will not beinterested and thus it is a

narrow target scheme

The concept of IPL team withcredit card will be more soseasonal as IPL is focused

more in just 2 months

OPPORTUNITIES

Immenseopportunities tocater to cricket

lovers and thusgreat product to

offer

It can be furtherenhanced with

various add-ons toget more value from

customers to increasebank lending and

credit

THREATS

Idea is also open to otherbanks, as bigger bank have

greater reach to customersso they have better accessto the scale of this concept

Credit risk is the potential risk,if subprime lenders are

availed to service withoutlooking much into their credit

history

SWOT Analysis of Cricket

Card


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TOWS Matrix

Strategies to capitalize onopportunities using

strengths

First movers advantage in both

areas of Cricket as well asFootball

Not only it will enable us tocater to Cricket relateddemands but once entering thecustomers pocket would be

used for other purchases as well

Strategies to mitigatethreats using strengths

Strong Advertising andPromotions would help us

create a customer basebefore the competitor

decides to enter the market.

Following KYC Norms and

having a regular intervalcredit check is a must tosave the defaults on the

card

trategies to minimizeweaknesses and avoid

Threats

Having a varied featured card withspecialty in cricket and footballwould be useful to cater to boththe segment

Having a strong consumer base,

our card would act as a resistancefor other competitors because novalue addition to customers thusneed to capture market in a bigway as soon as we start theseservices

Strategies to overcomeweaknesses through

opportunities

The seasonality use of credit cardcould be transformed to daily use

by bringing the promotions on aregular basis as well top-ups

should be divided equally

amongst differentshoppingsectors

This will not only increase thecustomer base with respect to

cricket but also of other relatedshopping sectors


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Laddering Concept

The laddering concept which we are proposing isDifferences by Occasions

The following topics were used in the questionnaire:-

Age group (25-35, 35-45, 45+ etc.)

Family (married with/without children, unmarried)

Preferred features

Annual charges/benefit analysis

Security issues

Credit limit

Add-ons such as passes to concerts, parties, pre/post-matchinteraction with sportspersons


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STP Analysis

SEGMENTATION

Geographic:- On the basis of states. As eastern and north-eastern regions ofour country are more inclined towards Football. As ISL is also prevalent alongwith IPL, banks can leverage on this to attract sports fans all across the country

Demographic:- Most of the target customers are in the age group of 22-45years. This age group is for the sports freak and hence trendy offers canpersuade them as they 20s customer just entered earning stages and hencethey tend to spend more

Psychographic:- Banks can target achievers. Individuals who are ambitious and

passionate to work more and earn to enjoy their life to the fullest.

Behavioral:- These IPL and ISL are occasional with each occurring in fixed yearsand henceforth these are on occasions. Hence segmentation on the basis ofbehavioral is apt here.


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STP Analysis

TARGET

Sports freaks and enthusiasts who are in the age group of 22-45 years

Ambitious and survivors who have just entered earning stage and lovespending

Party animals who are crazy about their fans and love attending page 3parties along with witnessing Cricket & Football matches

POSITIONING

Bank can position themselves as being a mediator between customers andcelebrities who people worship. They can position themselves as mediumso as to let them meet these celebrities, attend their parties and can availdiscounts on the seats in the stadium


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Football Credit Card

Barclays group PLC is a big global financial provider operating in Europe, America,

Australia, Asia, Middle East and Africa

They are engaged in retail banking, credit cards, corporate banking, investment

banking, and wealth management

Barclays group is one of the largest financial services provider in the world with a

core tier one ratio of 11 per cent

Recently Barclaycard, the credit card subsidiary of Barclays, started a profitable yet

attractive deal with the English Premier League, of offering free/discount tickets to

football matches to football fans who own or want to own credit cards

They named it Barclays Ticket Tuesday. It has been a success story

Population of India is 1.25 billion, which is almost 20 times that of UK, and theoverall fan-following of football in India similarly outnumbers that of UK

Here, we are trying to replicate the success of Barclays Football Card with the ISL

football tournament.


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SWOT Analysisof

Football Credit CardStrengths Weakness

Football fans in India are increasing rapidly and will

give First Mover advantage

Narrow Target reach as was the case with cricket

credit

Football is the most popular sport in the North-East

region in India. Football Card will be more popular

here

Seasonal as due to seasonal matches taking place

Add-on facility will give customers the chance to

attend high intensity games

Opportunities Threats

Emerging markets in Asia, and possibilities of tie-ups

with ISL and the upcoming FIFA U17 World Cup etc.

Varied government legislations in its global markets.

High population of potential customers in the urbanmiddle-class segment, most whom:- High financial risk exposure due to its global operationnature.

1. Watch and follow football, and are willing to watch

matches on venue, not just on TV or internet

streaming

2. Want to take their friends or children to football

events such as IPL but cannot due to unavailability oftickets or shortage of time

Increasing competition and threats in the banking

industry from other companies


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4P Analysis

Product

Design - This is a unique card designed for cricket & Football enthusiast.

We bring a cricket credit card. That gives you a unique opportunity to

enjoy cricket with their favorite IPL team. The card holder will get

unmatched perks and privileges Features :-

Cash Access Across the World - Convenience at the Speed of Technology

E-statements - No postal delays or lost statements. Get your monthly

statement directly in your e-mail inbox. This gives you global access 24/7

SMS Alerts

Fuel Freedom - 2.5% fuel surcharge waiver for each transaction between

Rs.500 & Rs.4000 (exclusive of GST, wherever applicable, & all other

charges). Maximum surcharge waiver of Rs 250 per statement cycle, per

credit card account


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4P Analysis contd.

Features

Easy Bill Pay Facility at Zero Charge - A FREE service that ensures your

utility bills (electricity, mobile, insurance and telephone) are paid on time.

Earn Reward Points on payments made.

Balance Transfer at Low Interest Rates

Easy Money Facility - Just call the ABC Card Helpline and order a bank draft

anytime you wish. The draft amount will be billed directly to your ABC

Card. The service is useful for payments of various bills, taxes, fees and a

lot else.

Credit Facility - ABC Credit Card offers greater flexibility of payment. With

the extended credit option, you can plan your payments against your

outstanding due as shown in your Monthly Statement. You can then carry

forward the unpaid balance at one of the lowest finance charges available.

Online Railway Tickets Booking

Emergency Card Replacement, anywhere in India


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4P Analysis contd.

Price

There will be one time charging fees

Extra add-ons will be provided called top ups: for example if the customer takes a top up of

Rs.50. They will get a discount of 1% on their next purchase from Big Bazar.

Provide easy credit terms

Promotions

Advertisement: Advertisements can be done through print media, social media, on television,

Radio.

Sales promotion: Install information centres in the malls and market areas

Keep a press conference during the launch

Places

One can get these cards from the ABC banks branches anywhere in India

Apply online

Direct to whom method : Reach the corporates directly at their office


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Conclusion About 8 in 10 consumers have a short-list of credit cards in mind prior to owning one, some brands

are preferred over others, this preference list is critical when decision-making time comes

Consumers acquire a new credit card with a similar mind set. 2 distinct motivations emerged,

consumers were either enticed by a compelling offer, or they were proactively seeking a new card

with financial management goals

Advertising has the strongest influence on consumers decision, with digital ads more influentialthan TV, print & direct mail. Word-of-mouth hardly play a role.

Consumers act fast! While wanting a new card builds over time, shopping and applying happens

in a short burst

Perceived convenience and ease of the application process is the key trigger to driving newapplications

Customized media & messaging strategies based on both of consumers' consideration mindsets

Hence the application process should be simple with clear & direct calls-to-action


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Thank You

Documents

Credit Card_Group V