PROPOSED BRAND AND MARKETING STRATEGY FOR PRODIGY CREDIT CARD IN BANK POWER

• Main Author: Alya Ramadhani, Putri
• Format: Theses
• Language: Indonesia
• Online Access: https://digilib.itb.ac.id/gdl/view/63270
• Institution: Institut Teknologi Bandung

Currently, most banks that offer credit card products in Indonesia avoid targeting first card users dominated by the younger generation—millennials, as they are being viewed as high-risk customers. This opportunity is being seized by online-based loans (Fintech companies) that offer easy and fast credit approval and a disbursement. Despite the fact that competition increased from Fintech companies, millennials show promising market potentials and size. Bank Power has seen this opportunity to launch the first fully digital Credit Card product. The main problem is the low penetration of credit card ownership in millennials market. Therefore, this project proposes a brand and marketing strategy to bring the product to penetrate the market. A qualitative approach has been conducted with an in-depth interview method as primary data gathering. External analysis has shown a low level of innovation in existing credit card players as they only emphasize promotional aspects. While based on customer analysis conducted with STP theory and Empathy map has illustrated the unmet needs of customers that existing credit card brands can not fulfil. The internal analysis has shown that by combining the capability of FinTech and the benefits of Credit Card products, Prodigy has established a robust Unique Value Proposition to offer a simpler, smarter, and safer financial solution. The result of this research is proposed brand strategy with six brand development frameworks (brand purpose, brand positioning, brand differentiation, brand identity, brand trust, and brand beneficence) and marketing strategy within customer path five A's theory (Aware, Appeal, Ask, Act, and Advocate). The proposed implementation plan starts from brand and marketing strategy development followed by channel development. The implementation should be equipped with tracking and evaluation activity periodically.