Help needed for sch project

T

tingting

New Member
Hi!

I am unfortunately not a BMW owner (though I aspire to be one in the future!), and will need your help with regards to my school project.

I am currently studying at Singapore Management University, and have to develop a marketing plan for a Beemer credit card for a project, in which information such as the demographics and what features the driver (i.e. YOU) will like to be integrated into the card.

Thus, it will be good if I can post questions on this forum to get the information that I need. Is this alright? :helpp!:
 
Re: Help needed for sch project

no spouse allowed to apply.
 
Re: Help needed for sch project

add the ///M sticker to it, confirm people will get the credit card.
 
Re: Help needed for sch project

umz perhaps petrol discounts since we're mostly petrol heads??

haha bottomline try to intergrate as many related businesses and parallel industries into your strategy as possible...
and prob make the card as exclusive as possible....the status thing?? tt shud do the trick...
 
Re: Help needed for sch project

A credit card is just another piece of plastic. There's one too many in the market these days. They're even giving away platinum card for free these days. So seriously I don't think anybody is gonna care with the launch of yet another credit card.
 
Re: Help needed for sch project

First 500 owners of the credit card gets 40% discount on all purchases from PML for 1 year.
 
Re: Help needed for sch project

no need so many fanciful stuff, just but the BMW logo big big and you will see most of us paying $1399 for the yearly subscription fees, but this must be restricted to current BMW owners only!
 
Re: Help needed for sch project

Thank you for the inputs! Yes, my team is aware that there are too many cards available on the market, but we hope to make this special and exclusive to only BMW owners. I guess some other group can come up with a Toyota card ..With regards to the design,Winston, are you sure you want a big big logo? Haha... we actually thought of placing a really minute one at the corner of the card...still debating on what color the card should be...
What do you think?
 
Re: Help needed for sch project

Tingting,

I would tink that since this is a BMW card, you will not go too wrong if u would to follow the primary colours of BMW logo. I also like to suggest that it would be nice if this card would be only exclusive to current and ex BMW drivers and maybe the sub card be allocated to only one of their immediate family members. Freebies or exclusive events will be a catchy points for u to consider. Hope it helps ... cheers
 
Re: Help needed for sch project

tingting said:
Thank you for the inputs! Yes, my team is aware that there are too many cards available on the market, but we hope to make this special and exclusive to only BMW owners. I guess some other group can come up with a Toyota card ..With regards to the design,Winston, are you sure you want a big big logo? Haha... we actually thought of placing a really minute one at the corner of the card...still debating on what color the card should be...
What do you think?
Click to expand...

what are u focusing on is just a small aspect of the marketing plan.
next part should focus on how u gonna mkt it.
thats where u gonna score points for the project.
how u gonna sell it? whats the media? selling point? why makes u think ppl will get the card? the card hook up with what vendors? what privileges? u categorizing it under exclusivity or available to anyone and blah blah blah.

all the best for your project. do be prepared from pounding from the assessors. so the best thing to do is imagine u are the potential card applicant, imagine what will go thru your mind, worse come to worse, can always do a questionaire to support your marketing plan.
 
Re: Help needed for sch project

Silver or dark grey.... or a nice metallic shine of the car's paintwork...

Freebie? BMW M5...hehe..
Maybe good good discounts on diecast 1:18 BMWs from PML wld be cool...
for ppl who like to collect little toy BMW cars....hehehe... (since those sold at the dealership are special dealer editions and cost slightly more)
 
Re: Help needed for sch project

hear hear. a BMW card. Hmmm. ::thinking:

My 2 cents:

I think its definitely nice to have and very exclusive but u need a critical mass for any bank to go for this novel idea. This is one of the main considerations (from a bank's perpective) when coming out with a affiliated credit card. I have experienced this previously when trying to setup an alumni credit card (no, its not a school project).

Based on the argument of critical mass and the positive correlation to more users, hence projected profitability, its easy to see that a BMW credit card would lose out to other makes e.g. a Toyota credit card... Exclusivity would then be key as you are not targeting the mass public :naughty: theres always a niche, even in the credit card market which explains the numerous credit cards available ...

promotions:
apply and stand a chance to win a M6 :yummie:

link up with PML, motor insurance companies, workshops, petrol stations, grooming/detailing centres, 'mod' shops etc etc for great discounts

valet parking at places we go. :)

quote that Winston (a potential card subscriber) mentioned that he is ready to pay $1399 for the yearly subscription fees and the banks (and your tutor) will definitely give you the thumbs up!!!:lol2: :lol2: :lol2:
 
Re: Help needed for sch project

Hi there!

Jocelyn here, Ting's project team member. first, THANK YOU!!! for all the really positive input! we do have some sort of plan going around...but we do need to understand our target customers more i.e. YOU GUYS! (since none of us owns a bimmer...at least.. not YET ;) )haha...

was wondering if u'll mind terribly if we gatecrashed this months (err...today's) meet up to just talk to u guys???

jos
 
Re: Help needed for sch project

Hi there,

Do drop by the meetup n speak to the friendly folks there; pretty interestn to hav a bmw credit card but benefits muz b attached to the card to entice more pple to subscribe. without any doubt, like wat bling bling winston mentioned, the bmw logo will be 'branded' enough for some to subs to the card. discounts at pml, havin a points system, n the card itself enjoyin all the other platinum or black card benefits may b good.

good luck.

Fm a non-bmw owner
 
Re: Help needed for sch project

ACSCAB2 said:
Hi there,

Do drop by the meetup n speak to the friendly folks there; pretty interestn to hav a bmw credit card but benefits muz b attached to the card to entice more pple to subscribe. without any doubt, like wat bling bling winston mentioned, the bmw logo will be 'branded' enough for some to subs to the card. discounts at pml, havin a points system, n the card itself enjoyin all the other platinum or black card benefits may b good.

good luck.

Fm a non-bmw owner
Click to expand...
The how lian king is back!!!
 
Re: Help needed for sch project

A BIG HUMONGOUS thank you to all who gave us their valuable opinions yesterday!! My team really appreciates them! Gonna work on them today.
 
Re: Help needed for sch project

yup yup!!!! THANK YOU!!!!! lotsa valuable insights which we will have no way of finding out from other sources!!!
 
Re: Help needed for sch project

my two cents worth, an exclusive credit card for bm owners may be a well poised proposition after all. There are many such unsecured loan products in the market targetting the high net worth where application is by invitation only. The catch to the customer besides really cool perks, is the exclusivity accentuated by the brand (in the case of the bm card) it is associated with.

Of course, the product must sustain itself, besides a substantial renewal fee something along that line, the card holders must make this their ONLY preferred card for all the usual obscene spending. (obscene spending => downpayment for a second bm, a yacht, 2 pateks, a boot full of LV and loewe etc) I would say these cash cows should make up at least 20% of its penetration for the product to be profitable.

Perks... for the high networth, this can be a very challenging yet interesting community to attract and retain. Albeit the hefty membership fee, you may be surprised to find loyal subscribers if touched the right way, remember the 20/80 rule.. Some perks in the market include free designer watches, club membership to exclusive restaurant located in one of the tallest buildings in Singapore (restaurant is opened only to members), guess who you may meet there.. 1 for 1 dining at renowned public restaurants is a pretty handy tool for business entertainment.

Coming back to the card for beemerluvers, you've probably picked one of the strategic places to start. Ergo listen to what people wants, toss it with some rationalisation and creativity, very soon you'd get something off the ground.. bon chance
 
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