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Credit cards
If gold medals were awarded for marketing consistency, the
credit card industry would be the Sarah Hughes of the business
world. Major players Visa and MasterCard, who have maintained
their steady rates of spending and commitment to their
positioning platforms for years, will stick to their established
routines this year. Freshening their programs will be updated
creative and the occasional push behind new products and
promotions.
Discover and American Express will mix it up by introducing
new taglines, but they will keep to their traditional big ad
spends to bring their messages to consumers.
MasterCard, which last year spent $197 million, per CMR, will
continue its successful "Priceless" campaign through 2002. In
addition to general brand-building spots, MasterCard will use
advertising to support several key promotions. One summer spot,
for example, will tout its Major League Baseball sponsorship and
a program called "Memorable Moments." The promotion asks fans to
vote for their top baseball moments, with the winners slated for
recognition in the Baseball Hall of Fame. Another ad highlights
the "Priceless Edge" internship program, a youth-focused
initiative offering participants the chance to take entertainment
business classes and work on MTV's Music in High Places.
MasterCard also will feature its sponsorship of the FIFA World
Cup, particularly in reaching out to Hispanic audiences.
Holiday will be an important period for the brand. Debra
Coughlin, svp-global North American brandbuilding for MasterCard,
said last year's promotional-driven advertising, which focused on
"priceless" gifts that could be won through using the card,
worked particularly well.
Visa, not surprisingly, also plans to spend in the fourth
quarter. "That's when there is an inordinate amount of retail
spending, so it's an important time frame for a usage message,"
said Liz Silver, Visa svp-advertising and brand management.
Back-to-school is another key period. Visa will keep the longtime
"It's everywhere you want to be" positioning this year. With lots
of dollars allocated to its 2002 Olympics sponsorship, much of
Visa's other advertising will focus on its key partnerships with
the National Football League, NASCAR, the Triple Crown and
Broadway.
Besides general branding and usage ads, Visa will support the
check card (a "six degrees of Kevin Bacon" spot currently is
running) and its "Verified by Visa" product, an online
authentication service for card users making Internet purchases.
Visa's ad spend last year was $251 million, per CMR. American
Express, which spent $154 million in 2001, recently launched an
extensive brand campaign with the new tag, "Make life rewarding."
The initial phase includes nine TV spots, some of which highlight
the overall brand while others feature specific AmEx services,
such as financial planning or travel assistance. AmEx also bowed
ads for its new small business network, OPEN, earlier this
year.
Discover Card, meanwhile, is bringing back the "It pays to
discover" tag, replacing "For the slightly smarter consumer."
This summer, Discover will communicate the convenience of its
just-introduced 2G0 card, an oblong-shaped card housed in a
plastic case that can be attached to a key chain. Discover also
will continue its sponsorship of ESPN's College GameDay program,
with promotions and advertising related to college football. New
this spring is the "Discover Card Shops with Lucky" platform, a
12-city tour done in conjunction with Lucky magazine. The
program, which will receive local ad support, includes fashion
shows, makeovers and hair consultations at retail locations
including Guess?, Sephora and Nine West. Discover spent $82
million in 2001, per CMR.
Finally, the buzz around chip cards, a talked-about trend last
year as Visa and American Express touted their entries in the
category, has quieted. Chips cards carry technology that can
store consumer data and allow particular market segments to be
targeted, giving a means to retain and reward customers. But
merchants must use still-rare readers in order for the cards'
benefits to activate, making their actual level of functionality
in the real world low.
Marc Sylvester is expect based in Edison, NJ. He holds
expertise in the banking and finance sector and is a conultant to
leading business houses.
http://www.imdollar.com/credit-card/
http://www.imdollar.com
MORE RESOURCES:
Credit - Google News
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