Uncommon Boldness: The Chase Sapphire Story
In late 2007, Chase recognized a tremendous potential in directly appealing to an affluent audience and to close the gap in its proprietary card portfolio. As Chase was perceived predominantly as a mass brand, developing a new product and positioning that differentiated a premium credit card offering would require considerable understanding of this segment and methodical steps to build the product and communications – but Chase was up for the challenge.
We needed to gain an understanding of the major competitors and to uncover needs still not being met. However, over time, we came to see that the competition was far from our greatest challenge. We began our integrated campaign development in a time when the economy was crumbling; the recession was at full throttle; and the US government started to develop new regulations for the industry.