Creating An Effective Marketing Mix For Visa Essay

1839 WordsDec 21, 20168 Pages
1.0 CREATING AN EFFECTIVE MARKETING MIX FOR VISA Visa which is a universal digital payment and technological company that facilitates the transfer of funds electronically through a wide array of visa products depends strongly on its marketing mix to sustain and gain more market share in the digital money transfer ecosystem. With its slogan “Visa is everywhere you want to be” derives this from the fact that it connects Governments, businesses, merchants, and consumers all over the world. According to Pour et.al, (2013), they stated that a marketing mix is a collection marketing components and strategies for promoting its goods and services. These components which include; Product, Place, Price and Promotion are controllable factors and it requires to be the consistently integrated for the benefits to be accrued to the company (McCarthy, 1964) 1.1 Evaluating the Effectiveness the Current Marketing Mix for Visa Inc. In evaluating the marketing mix for Visa, the following components would be used and they include; Product, Place, Pricing and Promotion. 1.1.1 Product - Currently, Visa has 4 classes of card product namely the Credit cards, Prepaid cards, Debit cards, and Gift cards. In addition, Visa has a total of 15 types of Credit cards, 20 of Debit cards, 30 of Prepaid cards and 8 Gift cards. All these cards are

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