Bukopin Strategic Creative Plan
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Creative strategic plan for Bukopin Credit Card program 2014
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Bukopin Strategic Creative Plan
- 1. STRATEGIC CREATIVE PLAN Bank Bukopin Credit Card 2014 Tuesday, January 28, 14
- 3. 1 3 Finance Service They finance customers at purchasing goods/service requiring large amount of money 2 4 Credit Sales They advance cash for customers, and customers pay back later with certain amount of interest There are cards companies provides customers with these similar services. There are little differences from other card companies. Tuesday, January 28, 14
- 4. 3 1 INDUSTRY OVERVIEW Credit Card Type Market Share Credit Card Using 3 Cards/person Premium Gold 7% 14.749.024 29% Basic 64% Cards/Augustus 2013 211.430.000 Millions of transaction Rp152,23 Trillion Periode Januari-Agustus 2013 Tuesday, January 28, 14
- 5. INDUSTRY OVERVIEW Consumer Expenditure by Category Tuesday, January 28, 14
- 6. 3 1 INDUSTRY OVERVIEW Card Using 57% Debit Card Credit Card Spending Culinary Fashion & Accessories Electronics Entertainment 83% Credit Card Tuesday, January 28, 14 Traveling Health Education
- 7. 3 1 INDUSTRY POSITIONING Augustus 2013 *By Loan Mandiri BRI BCA BNI CIMB Niaga Danamon Panin Permata BII BTN Tuesday, January 28, 14 OCBC NISP Bukopin UOB Indonesia Tokyo Mitsubishi HSBC BTPN Stanchart Jabar Banten Mega Citibank Rank 12th
- 9. Tuesday, January 28, 14
- 10. STRATEGY •Focus on urban market •Mall branding (Senayan City, Debenhams, etc) •Thematics credit card program, occasional •Distributor Card Tuesday, January 28, 14
- 11. Satria Brand Award Winner 2013 Everyday Card, Platinum BCA Singapore Airlines Promo facility Promo facility Promo facility ’Pay 1 for 2’‘at some finest resto in 5 stars Free flight for frequent flyer Cashback 5% at SPBU dan Hypermart Cicilan BCA 0,5% interest hotel Movie program at The Premier Tuesday, January 28, 14
- 12. Tuesday, January 28, 14
- 13. STRATEGY • • Tuesday, January 28, 14 Started to aim grocery shopping central, especially fashion (Darmo Trade Center (DTC) & ITC Surabaya) Developed integrated mobile device service
- 14. 1,75 Million Card 2012 60% 60% Mega Silver and down 2012 Mega Silver and up 2013 Strategy Cooperate with more merchants, from restaurants, hotels, aviations to petrol station Tuesday, January 28, 14
- 15. •Releasing micro finance segment credit card. Tuesday, January 28, 14
- 16. Exciting programs Low interest Easy payment Fast application Small amount annual fee Wide range networking Wide range merchants A lot of gift Informative Awareness program not strong enough Low credit limit Direct rewards based on point A lot of facility A lot of promotion Point reward can be exchange Point reward system with free annual fee Payment before due date wont get any interest High interest its not easy to get credit limit rise High interest Aggressiveness of promotion (at the mall, especially) given negative impression. Tuesday, January 28, 14
- 17. Tuesday, January 28, 14
- 18. KEY STRATEGY ATTRIBUTES Outlines various strategies that are differentiate from the customer’s perspective, namely, 1. Offer the lowest price 2. Have superior convenience 3. Offer higher service quality 4. Provides advice 5. Acknowledge the importance of its best customers 6. Personalizes and tailors products and service to the segment’s particular needs. Tuesday, January 28, 14
- 19. THE RISE OF MIDDLE CLASS Tuesday, January 28, 14
- 20. COMPOSITION OF CUSTOMERS Tuesday, January 28, 14
- 21. THE RISE OF MIDDLE CLASS Last year Indonesia's per capita GDP finally reached $3,000, the middle-class income threshold. If we define "middle class" as those with an annual income of $3,000 to 20,000, it is estimated that the number of Indonesia's middle class people will be at least 50 million Tuesday, January 28, 14
- 22. THE RISE OF MIDDLE CLASS Tuesday, January 28, 14
- 24. SWOT Strength Weakness Opportunity Threat -Experienced business units -Lack of concept -growing economy -High growth rate -Lack of awareness -new acquisitions -Competitive market, Bukopin credit card has not make it to the top of the wallet -Trusted brand -Poor visual executions -the rise of middle class -External business risk -Strategic partnership -Non Integrated marketing communications - Shopping habit at the mall -Doesn’t have strong positioning in the market (from 23,2 M into 49,3 M people) -Losing customer -the rise of community -online payment on the rise -Undeveloped digital media -the rise of the mall, credit card usage has become the urban life style -Credit card usage is not the primary paid method -Consumptive spending habit consumers -Benchmarking, personalized credit card ie: flexibility billing date, sms blast, installment, grand launching in big major cities, regular point rewards. Tuesday, January 28, 14 -
- 25. CUSTOMER’S PERSPECTIVE DEMOGRAPHICS Indonesia has one of the world’s youngest demographic profiles—60 percent of the population is below 30 years of age, and the population is growing at a rate of 2.5 million a year. Mass, Mass Affluent Platinum Spending Rp 1 million up to Rp.3 million Spending Rp 3 million up to Rp.5 million Spending Rp 5 million above Minimum Income 24M per year Minimum income 60M per year Minimum income 240M per year 20-40 years old 57.4 % Internet Savvy Social economic strata A 41-60 years old 38.4 % High Consume Senior High 48.9 Under Degree 13.1 Degree 32.8 Tuesday, January 28, 14 High Consume
- 26. CUSTOMER’S PERSPECTIVE ATTITUDES AND MOTIVATIONS How they think What they want How they react How they perceive our brand Mass, Mass Affluent Premium Mass consumption media Filtered media Selected & Exclusive media Household Household, Gadget, Fashion, Using credit cards for debt Professional, Demanding, Knowing what they want Easy access to be a card holder Hobby, Business Busy, Practical, Best Quality Services Tuesday, January 28, 14
- 27. CUSTOMER’S PERSPECTIVE BEHAVIOR AND USAGE Channel utilization Willingness to pay How much they bought from us Mass Mass Affluent Premium Domestic Traveling, by bus, motorcycles, train and ships Domestic and overseas Traveling, Domestic and International Traveling, by car, train, and airplane (economicbusiness class accommodation) by car, train, and airplane (first class-VIP) Focus on household billings Tuesday, January 28, 14 Frequent flyer
- 28. MARKET Demands Instant application Flexible billing date Responsive customer care Wants Thematics card design Low interest Discount in everywhere 0% Installment Wide range networking High limit Personal photograph Easy pay Gimmick Tuesday, January 28, 14 Needs Free annual fee
- 29. Category insights that frame the need states of the targets $120 billion Revenue on retail $73 billion 2nd largest spending in food & beverages 12% of Indonesian businesses currently access bank credit Tuesday, January 28, 14
- 31. Unique Selling Propositions Winning zone Clear point of difference that meets the need. Make it even bigger What BUKOPIN does well who cares? What your ? What the consumer wants Tuesday, January 28, 14 competitor X X Losing zone ? Risky zone does well Your competitor meets the consumer needs better than you do Competitive battle ground. Use emotion, innovative, superior executions, etc
- 32. RATIONAL TRUTHS Micro Business Government own bank Mid size bank Logistics Retail Grocery Tuesday, January 28, 14
- 33. EXISTING PRODUCT Mass Mass Affluent Platinum STARTER (21-27) YOUNG ADULT (28-35) MATURE (36-60) •Low interest •Wide range merchants networking •Low interest •Offering multi facility •Shopping offering •Direct rewards •Easy payment system •Free annual fee •Free annual fee •Wide range merchants networking •Easy installment •Many merchant ‘s discount available •Point reward available First time jobbers --> white collar workers under manager, staff, collage student Tuesday, January 28, 14 •High credit limit White collar workers level/above manager/staff managerial entry level/ operational staff under manager employee White collar workers Director level/ owner/CEO/GM
- 34. POSITIONING FOCUS Youth segment Lifestyle Lifestyle Family Strength positioning at rural areas Should be focuses on entrepreneur, family, mid and small scale business and micro finance Tuesday, January 28, 14
- 35. Credit Card Premium STRENGTHEN UNIQUE SELLING Mass & Mass Affluent STRENGTHEN THE BASIS Tuesday, January 28, 14
- 36. SWOT Strength MASS & MASSAFFLUENT CARD Tuesday, January 28, 14
- 37. STRATEGY RECOMMENDATION Building unique but meaningful positioning Focusses on retail, grocery - convenience stores, family, medical and business especially for middle class Tuesday, January 28, 14
- 38. Tone & Manner Warm - Aspirational - Reliable - In Control - Motivated Tuesday, January 28, 14
- 39. WHAT TO SAY Belanja cermat diakhir bulan Untuk kemudahan bisnis anda Bisnis anda adalah prioritas kami Tuesday, January 28, 14
- 40. KEY DEVELOPMENTS Sell the benefits, not the feature Cicilan Tuesday, January 28, 14 Program Diskon
- 41. SWOT Strength PREMIUM CARD Tuesday, January 28, 14
- 42. STRATEGY RECOMMENDATION Designed for people who need luxury, comfort and convenience Focusses on exclusive hobby, luxury facility/hospitality, priority service especially for upper class Tuesday, January 28, 14
- 43. PREMIUM CLASS Tone & Manner Mature - Exclusive - Elegant - Personalize - Proud Tuesday, January 28, 14
- 44. WHAT TO SAY Liburan sensasional bersama bukopin Sensasi berlibur di Bahamas For your holiday experience Tuesday, January 28, 14
- 46. KEY DEVELOPMENTS Sell the benefits of becoming Bukopin Premium Card holder Cicilan Tuesday, January 28, 14 Program Diskon
- 47. SUMMARY Mass & Mass Affluent Credit Card Focusses on retail, grocery - convenience stores, family, medical and business especially for middle class Tone & Manner Warm - Aspirational - Reliable - In Control - Motivated Keywords Cermat, cerdas-hemat, Bisnis Tuesday, January 28, 14
- 48. SUMMARY Premium Credit Card Focusses on exclusive hobby, luxury facility/hospitality, priority service especially for upper class Tone & Manner Mature - Exclusive - Elegant - Personalize - Proud Keywords Sensasi, experience Tuesday, January 28, 14
- 49. SUMMARY Why should anyone believe it? Renaming the programs, making it integrated (Cicilan seru, Nonton Seru, Program Seru, etc) Tuesday, January 28, 14