Deutsche Bank marketing strategy has lifted the salesDeutsche banks credit card marketing strategy has clicked
Apnaloan.com Research Bureau
27 Jun 2008
Deutsche Bank successfully sold nearly half a million credit cards in 15 months. Mr Shameek Bhargava, Managing Director & Head of Cards Asia-Pacific, Deutsche Bank said the marketing strategy has paid off. He further added credit card had a different kind of shape and color which gave the bank to fashion a different kind of entry strategy. This helped the customer to have a choice of their own color and design.
The bank has good strategy for its reward points. It has classified its cardholder according to the usage pattern. For instance, the spending habits of the customers was broadly divided into four categories 1) Travel airlines/hotel; 2) Grocery & home appliances; 3) Shopping, clothes and apparel; and 4) Entertainment bars, restaurants, parties. So, the customer who spends more on travel could choose an option that allows him to get more rewards points for every mile the traveled.
Implementing such types of strategy helped the banks to make its mark in the card industry which has dozen of players.