Marketing Plan 12/04/2019 Peiqi Li And Manvi Talwar Marketing - - PowerPoint PPT Presentation

Marketing Plan

12/04/2019

Peiqi Li And Manvi Talwar

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Marketing Objectives

• To develop and reinforce the brand

image of being an everyday essential

• To attract customers who are not

price-sensitive and engage more people in branding communications

• To connect and highlight the brand

with a convenient, efficient, luxurious, and successful lifestyle

• To increase business coverage in

customer-merchant engagement

Who are we talking ?

▪

want quality and convenience along with a good brand that depicts their status

▪

brand conscious, quality-conscious, and want to be differentiated and status-oriented

▪

love shopping, travel a lot for work, take international trips with family

▪

care about the concepts of sustainability and social issues

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millennial professionals industrial elites small to midsize business entrepreneurs

Audience Profile

▪

Age 25-40

▪

high net worth individuals and companies across diversified industries

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Marketing Mix

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Pr Product duct

• Charge Cards
• Credit Cards
• Traveller’s Cheque
• Make My Trip credit card in India
• AeroplanPlus reserve card in Canada
• Corporate cards, e.g. Corporate Meeting card

Pl Place ce

• The largest integrated global platform
• US, India, Singapore, Dubai, etc.
• In the US market, the vast majority of

businesses accept the American Express card

• However, there are still many merchants that

are not willing to accept it

Pr Price

• Amex charges 3% of the sale to the retailers
• Competitors on an average charge of around 2 %
• Amex’s annual fee: $50 - $500
• Competitors: no annual fee at all for some cards

Pr Promotion

• tion
• Annual fee waive-off for the first year
• Brand image promotion instead of price-cuts
• Secret services
• E.g. Small Business Saturday

Main Competitors

▪

General financial services providers

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▪

Banking for wealthy people

Main Competitors

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Unique Selling Proposition >> It’s NOT for EVERYONE >> It’s for Everyday

Marketing Strategies

➢ Improve Branding and Public Relations ➢ connect brand image with the lifestyle of a luxurious, sustainability-conscious, and responsible leader. ➢ Active on Digital Marketing ➢ Increase Offline Events ➢ Expand Partnership and Merchant Coverage

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Communication Tactics & Plans

Marketing Campaign

DECODING THE BRIEF

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Develop communications activities around customer benefits and premium-ness of the AmEx card Improve perception of coverage by creating campaigns around customer- merchant engagement Increase span of influence & participation in key events (music, lifestyle, travel) targeting millennials

What does American Express stand for?

High end luxury Expensive, niche Unparalleled relationship care and services

• Reinforce our brand attributes and set ourselves apart from competition
• Capitalize on a central campaign idea to drive home core values

As the credit cards market becomes more competitive e and cluttere ered, the customer is spoilt for choice. . This means, that the audience needs a propositi sition n that stands s out, resona nates s and adds value. This is sector agnostic when it comes to luxury.

Strong free cash flow Strong brand portfolio Loyalty programs/rewards Disbalanced asset and liquid ration Weak forecasting of demand Lack of R&D Invest in different segments Constant changing trend in consumer behavior Rising pay level New developed technology Consumer’s purchasing behavior

SWOT

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LUXURY & PREMIUM SEGMENT

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The current luxury-spending boom signifies the growth of luxury consumption among the consumers of different ages A clear and comprehended definition of luxury is the connotation of the following four aspects-

Experience-based luxury is the new driver for growth

Source: ASSOCHAM Nov, 2017

Evoke exclusivity Have a well-known brand identity Enjoy high brand awareness and perceived quality Retain sales levels, and customer loyalty

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THE LUXURY MARKET IS GROWING>>>

They will be the large gest gener erat atio ional al segmen gment in the luxury market Millennials emphasize more on custome

• mer

r experien erience ce offered by the product, its brand and design Major Growth drivers for expenditure include luxu xury ry travel vel, , high end livin ving, g, fine e dining and fas ashion ion

HNIs will comprise of 6% of all billionaires in the next 5 years Market size of the luxury sector in India is estimated to hit $100 billion in 8 years (currently at $7-$8 billion)

Source: Deloitte Feb, 2018

Who are we talking to?

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Jordan Lee – 46 years old He is a CEO in an MNC/ business owner with a high disposable

• income. He is a frequent traveler and he loves spending time

with family and loved ones on weekends. On some Sunday, he likes to go for Golf or brunching to socialize with likeminded

• people. He takes annual luxurious international trips with

family and travels often for work.

Touchpoints: Social media platforms, Malls, Airports, Bars and Restaurants, Spas, Events and seminars, Apps Media Consumption: Business newspapers, Lifestyle supplements, Magazines, Radio, TV

Baby Boomers

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Who are we talking to?

Sarah Oliver– 29 years old She works with a top Ad agency and owns an SME. She is active on social networking sites and often travels with friends and family. She leads a hectic schedule with a lot

• deadlines. She is a top executive and is fast tracked in terms
• f career growth. She loves shopping, very conscious about

her image and looks out for trends.

Touchpoints: Social media platforms, Malls, Airports, Cafes, Bars and Restaurants, Spas, Events, concerts and gigs, Apps, Streaming sites Media Consumption: Business newspapers, Lifestyle supplements, Magazines, Online portals, Radio, TV , Blogs

Millennials

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Amplify lify Experi rience ces Impro rove Perception tion Custom stomer r Acquisi sition tion

• Stakeh

ehold lder er outrea reach: Create surround sound through increased engagement for high end living, fashion, luxury travel and fine dining

• Strength

gthen en network

• rk: Overcome perceptual challenges by building

awareness and demonstrating value

• Thought

ght lead aders ership: Highlight strengths and expertise by sharing opinions

Communication Priorities

Content creation Digital focus

Smart Partnerships

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Customer Acquisition

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21 Alyssa Bossio Lifestyle•Travel•Beauty•Fashion Komal Matta Kapoor Lifestyle•Travel•Food Adam Gallagher Lifestyle•Travel Amanda Stanton Designer•Travel•Fashion

Engaging influencers with the #AmExChallenge

Social media content including videos and stories with engag agin ing g conten ent #AmExC xCashle lessChall llen enge ge to be the hashtag for all communication Demonstrate American Express’ commitment to being where our Cardmembers want us to be with

• ur ever increasing merchant base

through a ‘Cashless Challenge’ Influ luence cers rs across each category of trave vel, l, fas ashion ion & lifestyl estyle e and food

• d

would showcase that they were cashles ess for r a period

• d of time

e only using their AmEx Card and only spend in stores where AmEx is accepted. The activity will capture re merchan ants ts acros

• ss New York, Los Angel

eles es and Las Vegas and posts across Facebook, Twitter, Instagram Contes ests to run on the influen encer er page e for a customised goodie bag to the followers willing to take the #AmExC ExCas ashles essChal alle lenge ge along with a frien iend who is not an AmEx x member er 21

Video Series- #AmExSpeaks

• Give an identity to our most important stakeholders of the brand- Employees, Merchants and Consumers and leverage our
• wned media as well
• Through multiple video series campaigns create dynamic content which captures the strong relationship between the

American Express brand and its stakeholders

• Create reshaping the workplace videos along with employees
• Spread the positive experience shared by merchants, consumers and employees to bring in an added emotional connect

Leverage the video with online portals like Quartz, Huffington Post, Scroll etc.

Stakeholder Testimonials

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Amplify Experiences

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AmExciting Access

Coach chella ella (Indio io, , Calif iforn rnia ia) Tomorr rrowlan wland d (Belgi lgium) m)

• Coachella and Tomorrowland are the 2 most sought-after events
• Premium-ness and exclusivity attached to them that people want to feel and experience
• People save up for long to be able to attend these music fests
• To add the value of exclusivity we can send a contest winner + 1 to attend one of these festivals
• The winner will have to document his/her entire experience including the AmEx amenities
• Then the winner will get to exclusively interact with the media.

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Improve Perception

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Bolstering Relationships with the Media

Str Strengt engthe hen existing relationships and engage with new set of journalists in mainline and trade media Ex Expa pand nd media universe and engage with digital platforms including news websites and new media Incre ncreas ase touch points through: Relationship Building Meetings, Exclusive stories, Media round table over breakfast/lunch

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Me Metrics rics

• Unique visitors
• Engagement

Traffic Generation

• Website visit
• Business conversions

Conversion Metric

• Reach is higher than

engagement

• Clicks, shares, likes, retweets

Social Media Reach

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Ch Chan anne nel l Mix

Deliver the message to the target audience via medium they already look and listen

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THANK YOU!

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