Mellon Bank Case study
What segmentation criteria has Mastered used In the healthcare, sports, and affluent market segments? What segmentation criteria are Implicit In Masterpiece's selection of these segments? Answer- In health care products the Mellon bank corporation and the joint venture of master card. The companies provide the depository payment and processing services for medical savings account. Included in the package is the master card master money debit card.
It allows money elated debit expenses and higher deductible debit policies and tax deferred savings account. In this people pay tax deductions and higher tax deductible medical insurances. In this people pay pre tax contributions to their accounts. In this people provide to pay participating companies directly easily and relevantly and smoothly. Master card targets sports people and so its sponsored the world cup soccer. One of the newest venture is the Jordan grandpa motor race.
Sports sponsorships are the powerful tools that enable master cards to launch effective and rand value of their business.... It licensed opportunity and drive the powerful tool of driving the Jordan card an effective way to promote the branding of the product. Master card promotes the formula one as its most powerful tool to attract the hungry credit customers and also it has recently launch the implications of the powerful way of attracting the rich customers to make it a point it is a good way of the credit card company.
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One of the major factor is the power of the credit card company is the way a transaction occur that means where check and money are unacceptable then the rower of the credit card occurs. The rich needs this benefit as of more than others. The master card selection indicate that the people use it for two purposes may indicate: 1: the cash and cheese might be unacceptable so it is the power of the master card which make the transactions possible. 2: the brand value and the loyalty brand promotions status are the other criteria that makes the master card unique of others. . How does Mastered differentiate its offerings for each of these target segments? How has Mastered positioned its offerings? Answer: Traditionally speaking credit card incur high interest from persons who are wealthy who pay the credit card bills on time. To provide the billing the master card will offer elite card offerings . The credit card companies make 1 to 2 percent money on each transactions the biggies offer when they make credit card transactions. Average transactions occur and the receivable money is $ k resulting in the transactions fee of $42.
To attract this offerings master card will offer special concerts special perks and special offerings like arranging concert services etc . Bank of America became the first company to offer world master card services. It offers higher transactions charge of $ 75. Master card now targeting the affluent and rich people by providing special rates and for providing the easy exchange rates that makes master card special however the moves make it clear that master card is fails to make the pay to the master card the interest and the transactions fee and the rates. : What competitive advantages and disadvantages does Mastered have with its World Mastered, targeted to the affluent? Answer: world master card by the master card makes it clear that the affluent can have the same level of customer service . Due to the member banks the image and the brand value of the member banks have been tarnished as well as the world bank master card. 2. In your opinion, will Masterpiece's World card be a success? Why or why not? What recommendations would you make for marketing the card?
Answer: Master card world card will be a success it will be a difficult ball game because Ames charges only $ 300 for its arrives to its platinum card holders as well as it offer free perks and up gradation so in course of action Ames will defend its marketing products aggressively and also Ames will make it clear that it will promote strengthen marketing strategy as well as world master card has a comparable lesser brand value because of the lack of consensus between the member banks however it has a good customer services to promote the good solution services . N short world master card of master card has a competitive market to promote its brand in the market.
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