Visa’s Promotional
Visa’s Promotional
Visa’s promotional message
Visa has been in business for many years and has developed a product that is flexible enough for every consumer. Their promotional message and sources are strong and have been developed greatly to deliver a strong message to the consumer community. In this paper, we will discuss the product, sources they use to promote their product and how they convey their message, and where Visa is at in their product life cycle.
Product Description
Visa Corporation is comprised of 21,000 banks and other financial institutions around the world who issues credit cards to its customers. Visa’s role consists of mainly issuing the plastic cards to the banks. However, Visa’s role is bigger than it seems because it bares all the responsibility of ensuring that Visa credit cards are equipped with the highest level of specification and security in order to protect its consumers and merchants from unauthorized transactions. Visa also maintains its database and provides customer information to banks which enables them to monitor all customers accounts. Visa itself acts as a link between the merchants banks and the cardholders bank. Visa differentiates itself from other credit card companies by providing the most high-tech protection features on all credit cards for its cardholders, merchants and banks. This company promotes itself to the public as the safest, most secure and reliable credit card to use anywhere in the world.
Promotional Sources
Visa attracts customers from all over the world through its website. It also attracts customers through banks and financial institutions. The methods that these distributors use to attract Visa’s cardholders are through mail, telephone, radio, banks websites, promotion stands, newspapers, magazines and at the location of the company. Visa also attracts a majority of its credit card holders through “word of mouth” by its own cardholders who were very happy with Visa’s services, and 24 hour customer support service.
Print
Visa’s strong brand image is composed of the delivery of all transaction purchases with acceptance, convenience, flexibility, and security to consumers. Its brand image is also supported by its slogan, which is “Wherever it takes you, the future takes Visa”. Visa uses the “line extension” as its brand strategy. This means that a company introduces additional items in a given product category under the same brand name.
“The Future Takes Visa” (TFTV) campaign is in line with its corporate objective of doubling personal consumption expenditure penetration at the point of sale over the next five years. The goal of this brand strategy is to ensure that cardholders will choose Visa credit cards as the number one choice now and in the future.
Publicity
Visa has different kinds of promotions which transpire through sponsorship of all Rugby World Cups, Olympic Games, joint business deals with Marriott Hotel, Accor Corporation and Marie Curie Cancer Care in Newcastle. In sponsoring for the Rugby World Cup 2003, Visa cardholders could win a trip to Australia. Visa members also have the role of providing free return tickets, accommodation and match tickets to the semi-finals or the finals to consumers. In sponsoring for the Olympic Games, Visa cardholders could win Visa Olympic prizes and a trip to attend the Olympic Games. Visa’s joint promotion with Marriott hotel offers cardholders a discount of 20% off the regular holiday package rate. They also promote themselves through fundraising campaigns, where Visa would donate money to different organizations.
Direct Mail
Visa credit card’s distributors send out an abundance of advertising on a daily basis. The direct-mail advertising has been a very successful advertising channel that has helped drive up the subscriber rate. Visa gets their customer mailer list off of credit reports which allows them to pre-qualify the receiver ahead of time. This allows Visa