The positioning strategies of selected banks in marketing their credit cards

• Main Author: Kang, Yuen Ying
• Other Authors: Hwang Soo Chiat
• Format: Final Year Project
• Language: English
• Published: 2015
• Subjects: DRNTU::Business
• Online Access: http://hdl.handle.net/10356/64529
• Institution: Nanyang Technological University

This report analyses the marketing strategies adopted by the selected banks in positioning their credit cards. The first stage is market segmentation, where the banks select one or more segment(s), which fit(s) their strengths and weaknesses, to target on. Thereafter, the banks plan the position statement and design the marketing mix - product, price, place and promotion - to deliver and communicate the desired positions to target consumers. This report aims to determine whether the marketing mixes have created congruence between consumers' perception and the banks' intended strategies. If this congruence leads to the holding of or greater willingness to hold the cards, the strategies could be deemed to be successful. To obtain this information, consumer survey was conducted on random samples of the target consumers. The survey results were then applied to the Chi-square formula to test if the marketing strategies were successful. The implications of these results and the impact on the future trend of the credit card industry form the basis of the conclusion of this report.