Wednesday, August 19, 2009

Chase Cards Targeting Affluent: Market Segmentation

Here's a marketing tip in segmenting a customer database.

Chase Card Services, a unit of JPMorgan Chase & Co., said Wednesday it will now offer a rewards card designed for wealthy customers. This is according to an Associated Press report.

The new card, called Chase Sapphire, is designed for the top-earning 15 percent of U.S. households. It offers travel services, access to round-the-clock customer service and a rewards program.

All businesses may have a need to segment their database and position specific messages and offerings to certain types of customers.

How deeply you segment depends on many variables including pricing, product offerings available.

I’ve met several Professional Employment Organization (PEO) representatives in the last few months and many of them deal with businesses ranging from 10 employees to hundreds.

The number of employees in a company will determine some of the needs of that prospective customer. And those needs will then determine the type of message and approach taken.

The value in segmenting a customer list is it aids greatly in the sales process: the right message for the right target audience delivered with the right media.

3 comments:

ace said...

Chase can take their cards and SHOVE IT where the sun don't shine. They are nothing but LIARS. They tack on all sorts of fees to the card and paying the minimum or even half of the card balance isn't good enough for them. They will just close your account after a couple of times of you only paying half the card balance, report you to the credit bureaus as "delinquent" and send 10 different debt collectors after you. I'm not kidding about this.

There is NO negotiating with them. It's either you pay the card in full or you will be paying through the nose with their miscellaneous fees. I wouldn't recommend Chase to a dog for Christ sakes.

Don't get a card with Chase and certainly DO NOT open a bank account with Chase. You will be SORRY beyond belief if you have an account with Chase. Chase will close your bank account without warning if you don't keep more than $12 in it at any given time. $12 that goes towards their "monthly service fee". And after they close your bank account, your name gets listed in Chex System and you have NO choice but to get a second chance checking account. There is NO way of getting your name out of the Chex System.

If you have an account with Chase, CLOSE IT NOW. DO NOT WAIT. DO NOT PATRONIZE THEM. Don't patronize businesses that practice deceptive tactics. I will HATE Chase forever and a day. I don't want anyone to go through what I went through with Chase. It's mind blowing the way they operate.

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