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Read Chase Sapphire:
Creating a Millennial Cult Brand
After you have read the case attached,
Please answer the following questions:
1. What is your
assessment of the Chase Sapphire Reserve card? Is this a good product for
JPMorgan Chase (JPMC)? For the Sapphire brand? Why or why not?
2. Why has Chase Sapphire
Reserve been so successful in acquiring customers? Will this success continue
over time? Why or why not? What changes would you make to their customer
acquisition strategy going forward?
3. How successful will
Chase be at retaining Chase Sapphire Reserve customers into their second year?
What would you suggest they do to improve their odds of retaining their
customers?
4. Referral reward
programs are designed to motivate consumers to spread positive word of mouth
(WOM) about products or services and thus, in essence to integrate customers
into the sales force (Biyalogorsky, Gerstner and Libai, 2001). Would you
recommend this credit card to your friends? Why or why not?
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