FOCUS ISSUE: FOR CREDIT CARDS<\/p>\n
Banks come up with new brands to cater to special customer groups<\/p>\n
Agustina Wulansari
\nThe Jakarta Post
\nJakarta<\/p>\n
In marketing, being innovative is one of the important factors
\nthat will determine whether or not a product receives a positive
\nresponse from customers.<\/p>\n
The same thing applies in the credit card industry. Creating
\ninnovative brands for their cards is also as important as giving
\nlucrative rewards.<\/p>\n
For credit card issuers, a brand name means a lot as it is not
\nonly used to differentiate the card they issue but also to attach
\na kind of intimacy to their customers.<\/p>\n
Card categories such as Platinum, Gold and Silver may reflect
\nthe thickness of their customers' wallets. But such types of
\nclassification are already too common. This might be the reason
\nwhy many credit card issuers now use individual and unique brands
\nfor their credit cards. These kinds of cards are generally issued
\nfor special groups of customers.<\/p>\n
Have you heard about the Lady Card from Lippo Bank, Clear Card
\nfrom Citibank or BII's M2 (MC Square). All are issued to
\nreflect the lifestyles of their specific target markets.<\/p>\n
Lippo Lady Card, the newest credit card from Lippo Bank, which
\nwas launched several months ago, is one example. As you might
\nguess from its name, Lady Card targets working and active women
\nwith an annual income of at least Rp 45 million.<\/p>\n
With this specific name, Lady Card offers a number of
\nprivileges specially designed for women, such as free insurance
\ncoverage for breast cancer and price discounts in selected
\nhangout places as well in fashion outlets, boutiques, spas and
\nhotels. Almost all of the benefits are related to women as the
\nmain targets of the card. This card also offers women's
\naccessories such as Estee Lauder handbags, and a lipstick set for
\nnew members.<\/p>\n
Besides working women, young professionals have also become a
\nprime target of local credit card issuers. Many issuers have
\nlaunched special promotion programs targeting this group.<\/p>\n
One of them is Citibank Clear Card. This transparent and
\ntrendy card was apparently introduced to replace the youth-
\noriented Y-Card.<\/p>\n
From the benefits it offers, this card has been specially
\ndesigned to cater to young and active executives who still enjoy
\nhanging out after work.<\/p>\n
Some of the privileges offered to its holders include price
\ndiscounts of 15 percent on every purchase in selected cafes and
\nrestaurants in Kemang, South Jakarta, and a 20 percent discount
\nin a number of fashion outlets.<\/p>\n
The holders also enjoy a 30 percent discount when they stay in
\nthe Hard Rock Hotel, and the Cafi and Malya Hotels.<\/p>\n
BII's MC2 is another credit card that targets young people.
\nThis card, which comes in three choices -- Saturn in orange,
\nSolar in purple and Jupiter in green, offers benefits suited to
\nthe needs of young and active executives.<\/p>\n
The cardholder can, for example, get benefits in the form of
\nnot having to queue when entering certain hang-out spots. BII MC2
\nalso rewards the holder with a BII rupiah bonus of up to 5
\npercent for every purchase.<\/p>\n
Other credit card firms are also interested in this growing
\nmarket segment.<\/p>\n
HSBC Bank is one of the banks that offer a number of benefits
\ngeared toward young professionals. Just like Citibank, HSBC also
\noffers special discounts in selected fashion outlets, hotels and
\nrestaurants. Among the well-known names offering discounts are
\nMarks & Spencer, Next and Nautica, belonging to the Mitra Adi
\nPerkasa Group, the Hotel Mulia Jakarta and Hard Rock Hotel Bali.<\/p>\n
With their big names in the credit card business, Citibank and
\nHSBC seem to have no problem in getting price discounts for their
\ncredit card holders from merchants.<\/p>\n
For the merchants, joining such sales campaigns means a good
\nopportunity to promote their products and services.<\/p>\n
\"Giving a discount of up to 15 percent is still reasonable for
\nus. Beside, we can benefit from free promotion through this
\ncooperation. In our experience, we don't have to pay anything for
\nthis,\" said Mellani Solagratia, PR manager of the JW Marriot
\nHotel.<\/p>\n
JW Marriot provides a special discount for every purchase with
\na HSBC credit card in its restaurant. According to Mellani, the
\nhotel also offer a special room rate for HSBC's corporate credit
\ncard clients.<\/p>\n
Arifian Gustiandi, general manager of The Coffee Bean and Tea
\nLeaf, also said that being selected for Citibank's sales campaign
\nwas of great value to the company.<\/p>\n
\"This partnership gives us more added value. Free promotion
\nwithout any additional costs is one of the best advantages. Our
\nbrand name is always mentioned and that's why it can improve our
\nbrand image\" he said.<\/p>\n
The Coffee Bean, which started operating in Indonesia in 2001,
\nhas been cooperating with Citibank in the promotion of its Clear
\nCard for the last two months. On Mondays, for example, The Coffee
\nBean offers \"buy one and get one free\" promotion.<\/p>\n
According the Arifian, the joint campaign with Citibank had
\nsuccessfully increased the number of customers, who mostly used
\ncredit cards instead of cash.<\/p>\n
\"This promotion is only for several months, and it won't cost
\nus much,\" he said when he was asked if the offer would inflict
\nfinancial losses on the company.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/focus-issue-for-credit-cards-1447893297",
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"sponsor": "Okusi Associates",
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