Week 1 assignment

Question

Crafty Credit Card Competitor “Chases” Amex for Share of Millennials’ Wallets

Requirements: one to two pages

1. Why is the millennial generation, in particular, so important to Amex? 2. This case focuses primarily on the battle between Chase and Amex over millennial consumers. But, as the content in this chapter points out, lumping all older consumers into a generalized segment overlooks some important variables. Looking at the generational groups and their representative values, where would you suggest Amex focus its marketing efforts, and why? 3. As noted in the chapter, an external positioning statement is not just about being able to describe how your product benefits the customer—it also needs to explain how your product is different from the competition. Chase’s “It’s not your father’s credit card” external positioning statement sums up in six words the idea that Chase is young while its competitors are old. The statement leads millennial consumers to consider what this card could do for them, beyond what their father’s card could. Amex’s positioning has always been that its card is for the successful professional—what would happen if Amex changed that positioning? (As a bonus, try to create a short external positioning phrase for Amex to use with millennials.)

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