MANAGEMENT DECISION CASE Crafty Credit Card Competitor “Chases” Amex for Share of Millennials’ Wallets As noted in the chapter, an external positioning statement is not just about being able to describe how your product benefits the customer—it also needs to explain how your product is different from the competition. Chase’s “It’s not your father’s credit card” external positioning statement sums up in six words the idea that Chase is young while its competitors are old. The statement leads millennial consumers to consider what this card could do for them, beyond what their father’s card could. Amex’s positioning has always been that its card is for the successful professional— what would happen if Amex changed that positioning? (As a bonus, try to create a short external positioning phrase for Amex to use with millennials.)
MANAGEMENT DECISION CASE
Crafty Credit Card Competitor “Chases” Amex for Share
of Millennials’ Wallets
As noted in the chapter, an external positioning statement is not just about being able to describe how your product benefits the customer—it also needs to explain how your product is different from the competition. Chase’s “It’s not your father’s credit card” external positioning statement sums up in six words the idea that Chase is young while its competitors are old. The statement leads millennial consumers to consider what this card could do for them, beyond what their father’s card could. Amex’s positioning has always been that its card is for the successful professional— what would happen if Amex changed that positioning? (As a bonus, try to create a short external positioning phrase for Amex to use with millennials.)
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