Sagar_Charles_Schwab_case

Sagar_Charles_Schwab_case - MKTG 5104 Marketing Policy and...

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MKTG 5104 Marketing Policy and Strategy Sagar Dedhia 905387447
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Summary Due to highly competitive low cost charging brokerage firms, the revenue of Charles Schwab & Co. had declined in a year where in every other brokerage firm gained a big share of pie; whereas Schwab enjoyed the top position in that segment for several years. One of the reasons attributed to this could be the budget cut in marketing coupled with many competitive firms flowing similar strategy of low cost of that of Charles Schwab & Co. The Brand Value declined, most people took it to be a steady company and not one of the most innovative one. It was not late for Saeger, the then Chief Marketing Officer, having worked for VISA as head for marketing for 8 years, to realize this and start convincing the executives to reinvest in central brand-building campaign. In spite of some criticism, Saeger believed that brand image revitalization was needed. She made to focus that Charles Schwab Inc. was not only a low-cost but also a high value and quality service provider. This was a way to regain customer confidence which by then had reduced as compared to what it was a few years back. She built a different campaign which focused on advertising through every possible approach ranging from TV commercials to billboards rather than traditional direct e-mails. The ‘Talk To Chuck’. During this campaign ‘approachability’ was the key differentiating factor which set Schwab a foot ahead of others. Schwab was also confident that the new advertising will portray a personality who is committed to provide great service to customers. While reviewing the results, they found out that the attrition rate reduced and Brand recallers now exceeded non recallers. Saeger rightly selected cities like Chicago as its test markets since neither of its competitors nor itself had headquarters. The brand value was improving; the net profits went up, the campaign seemed to
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Sagar_Charles_Schwab_case - MKTG 5104 Marketing Policy and...

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