MGT 450 - Wk 2 Assignment

MGT 450 - Wk 2 Assignment - A failing economy was the push...

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A failing economy was the push that VISA needed to change their ad campaign which now represents a change in the way the leading credit-card and financial services company does business. The change comes at a time when consumers have drastically changed the way in which they make their purchases, as well as the types of purchases that they are making. In order to keep up with these changing needs, and maintain their status as the leader in their industry, VISA needed a new strategy that properly represented their new way of conducting business. VISA previously used a marketing strategy that compelled consumers to pay for high dollar purchases with their credit-card. In addition, they designed their marketing strategy to appeal to individuals on the go. By conducting business in this fashion, the company was earning their money through consumer debt. But in this ever-failing economy, no longer was this method viable for charging the consumer and making their profits off the consumer’s debt. Consumers are now falling more and more behind on their credit card payments; “it is estimated that the charge-offs will approach nine percent during the second half of 2009”. This created a problem for the credit-card company, and pushed them to take steps to better accommodate their clients. With the unemployment rate rising, and home foreclosures becoming more and more,
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This note was uploaded on 08/29/2011 for the course BUSINESS 101 taught by Professor All during the Spring '11 term at Ashford University.

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MGT 450 - Wk 2 Assignment - A failing economy was the push...

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