You are the newly appointed marketing manager for First Choice Bank Limited, a local financial institution that offers a wide range of financial services. Growth of the Bank’s 4C’s branded Credit Card portfolio have been declining for quite some time and recent exploratory research conducted by the company suggests that your 4C’s brand is no longer price competitive. From your study of marketing, you think that a reconsideration of the market segmentation used previously to better understand the target consumer might be the key to this dilemma. What pricing strategy or strategies might work best with your suggested segmentation approach to recover this situation and why? Illustrate your argument with examples
You are the newly appointed marketing manager for First Choice Bank Limited, a local financial institution that offers a wide range of financial services. Growth of the Bank’s 4C’s branded Credit Card portfolio have been declining for quite some time and recent exploratory research conducted by the company suggests that your 4C’s brand is no longer price competitive. From your study of marketing, you think that a reconsideration of the market segmentation used previously to better understand the target consumer might be the key to this dilemma.
What pricing strategy or strategies might work best with your suggested segmentation approach to recover this situation and why? Illustrate your argument with examples
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