Absa Credit Cards Marketing Campaign
Table of Contents
Introduction 2
Question 1 2
Product attributes and benefits 2
Flexi core credit card 2
Student credit card 3
Product attributes and benefits 3
Gold credit card 3
Product attributes and benefits 3
Premium Banking credit card 3
Product attributes and benefits 3
Question 2 4
Question 3 5
Question 4 6
Bibliography 7
Introduction
Absa will need to create marketing strategies that will increase interest in their credit cards
by means of market research and different marketing strategies’.
Question 1
Product attributes and benefits
Flexi core credit card
This is Absa’s entry level credit card created to offer clients the ability to start building their
credit record by means of fixed monthly repayments for easy budgeting. Main competitors
like FNB and other competitors do not offer the same service allowing for Absa to
monopolies entry level clients by offering benefits like…
-Helping clients build a credit history.
-Offers Fixed monthly payments that reassures clients pay more of their capital debit
allowing for easier budgeting.
-Up to 57 days interest free
-Monthly income between R2000 and R4000 which is the lowest qualifying rates for a credit
card between all Absa’s competitors (private banking credit card 1986).
Student credit card
Product attributes and benefits
This is a credit card aimed towards students that are taking steps towards their financial
freedom.
Some of the aspects that will benefit these students include no monthly service fees and
many other benefits.
Absa should create social media campaigns based around the most used media platforms by
students including Facebook and Instagram (private banking credit card 1986)
Gold credit card
Product attributes and benefits
The gold credit card which is target to mid income earners and has many benefits that are
meant to make the lives of the credit card owners easier. As Absa rewards member client
are to claim cash back for fuel and grocery and also discounts and promotional offers. There
are many benefits that will attract potential clients and affordability assessment will ensure
the potential clients are able to back funds
Absa should advertise their campaigns on television during prime time (7pm) while family’s
Are eating dinner (private banking credit card 1986).
Premium Banking credit card
Product attributes and benefits
the premium credit card is exactly that a card that has a vast list of benefits for exclusive
clients that are able to afford the premium service.
Because of the exclusive clientele Absa should focus on Advertisement’s that would look
Appling to such clients. Televised adverts Facebook and LinkedIn would be a good place to
advertise the marketing (money matters make credit card 2017)campaigns (private banking
credit card 1986).
Question 2
Absa understands credit is a scary field for client’s so they offer a calculated and careful
method for clients to handle their credit cards. Absa offers up to 57 days interest free cycle
for clients whom will only be charged interest on the outstanding balance after the 57-day
period and there are no interest rate charges if transactions are paid after the 57-day
period. There are many other benefit’s that come with the new credit cards like Absa
rewards, travel insurance and possible access BIDVest airport travel and many other
rewards that Absa has to offer (South African credit cards compared 2020).
Question 3
Absa should create a televised ad campaign that should focus on the benefits of credit cards
specify the entry level Flexi core credit card and the student credit card these cards will help
Absa the entry level target market. There should be two Ad campaigns pushed on Television
through the means of using a young student in his or hers first year in university sitting in
front of their desk where they conduct their studies, their books lied out in front of them
the person staring into their vison board fantasizing about their future with their kids, a big
house, a family and a nice car. The person then snaps back into reality but this time in front
of a professional Absa consultant handing over a Student card. The ending of the ad should
say ‘your future begins now’ (money matters make credit card 2017).
The second ad should be from a different perspective, its graduation day and the students
just graduated their throwing up their caps in the camera follows them as they leave the
enter the sky we see a glimpse into the future a Lady or Gentlemen driving up to a
cooperate firm exciting their luxury car dressed in professional attire the individual smiles
then proceeds into the building. The ad will then end with the slogan ‘let’s help you get
there (money matters make credit card 2017)’.
Question 4
The credit card business has been up and down though the previous 10 years with Barclays
which owns Absa also being heavily affected by the state of the declining business. Absa at
the time owned 16% ownership in the credit card market in South Africa. Companies had to
keep up with the declining market and banks like Nedbank and First Rand had to come up
with marketing strategies to snag up new customers (money matters make credit card
2017).
Nedbank’s strategy was to team up with a celebrity to target university’s with offers of a
cheap accounts, credit and facility as well as fast food restaurants vouchers.
First Rand has used its App to connect business customers with its retail clients. FNB is also
been digging deep into its clients details to finds methods of better close selling with its
clients (money matters make credit card 2017).
Bibliography
2020. South African credit cards compared . 08 06. www.buisnesstech.co.za.
1986. private banking credit card. 04 06. Accessed 06 08, 2020. www.absa.co.za.
2017. money matters make credit card. 02 06. Accessed 06 08, 2020.
https://blog.absa.co.za/category/money-matters/make-credit-card/.
