Mkt 580 Hbs Case Summary - Chase Sapphire: Creating A Millenial Cult Brand

This study source was downloaded by 100000859819779 from CourseHero.com on 02-21-2023 00:38:09 GMT -06:00https://www.coursehero.com/file/82556058/MKT-580-Chase-Sapphire-Summarydocx/Powered by TCPDF (www.tcpdf.org) MKT 580HBS Case Summary - Chase Sapphire: Creating a Millenial Cult BrandYour names: Ashley Tran, Hammad Alam, Haocheng Pan, Yang XiaoChase Sapphire Reserve Card was published in August 2016 and only in two weeks, the card exceeded its 12- month sales target. This card attracted to a large number of millennial customers, leading to the popularity of the Sapphire brand on social media with a lot of unboxing videos and well- known hashtag. Due to its 100,000-point sign -on bonus from Chase Sapphire Reserve, it spread all over social networking sites and word of mouth surrounding its launch, gasping the attention of influencers, individuals, etc. Nevertheless, the challenging of Chase had just begun when its board of directors planned to reduce from 100,000-point bonus to 50,000 points in January 2017. The big problem for them is what the effective strategy to keep their customers remaining with the brand and continue renewing their cards for another year. In addition, Chase Sapphire still wondered about its competitive differentiation and the way to attract customers to return their attention to another products of Chase. For Chase,