Chase Sapphire: Market Segmentation and Developing a Customer Database

Chase Sapphire
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Chase Sapphire
Q1
Segmenting people by their age group is vital to any company. Similarly, understanding the age partners in marketing segmentation is essential. This is because it helps firms use the correct targeting strategies for a particular age group (Santana, Avery & Snively, 2018). People in different age groups have different feelings, ideas, and beliefs about a specific product or service. Therefore, dividing consumers based on the age group will help an organization advertise its products effectively; since the marketers will be aware of the products that will appeal to the consumers well.
Q2
According to a general manager of chase sapphire, the primary aim of introducing metal card was to make people feel proud. Based on his thoughts, pulling out the card from the wallet would reflect people's success. Since 2016, the card seems to be an appealing symbol to most millennials (Santana, Avery & Snively, 2018). The metal card is not worth the cost of goods as compared to other cards. Whether the customer is using a metal or a plastic card, the purchases remain the same. Hence, this shows that the card is not worth the cost of goods. The only benefit that the metal card provides is durability, as one can replace it once per year.
Q3
Enthusiastic consumers refer to people who get more than what they have paid for in a company. These people stick in a firm for a long time and play an essential role in attracting their peers to the organization. An organization can create a brand advocacy program, and encourage the consumers to recommend their friends (Santana, Avery & Snively, 2018). The advocacy program should give discounts to consumers based on the number of people they have recommended. Doing this can help the firm to grow its brand effectively.
Q4
Generation Y compose individuals born between the 1980s and 1990s. The generation forces on satisfying its needs and expectations. Moreover, it values the experiences of any product and services they receive. Chase sapphire needs to incorporate several concepts in the organization to maintain generati...