Visa Black is the Dark Knight to Kill Amex Centurian
Going Like Sixty — December 23, 2008 — Marketing
References: the-blackcard & acquiremag
Visa Black is the Dark Knight of credit cards. Visa is accepting applications for their $495 annual fee card because they want to give you 24-hour concierge service, luxury gifts and priority access to some airport lounges. But don't apply if you aren't in the top 1% of some formula. The card is a “patent pending Carbon Graphite.â€
Implications - Incredibly wealthy clients and consumers know that their patronage is both valuable and highly sought after, so companies looking to entice them need to make sure they go above and beyond with the services they offer. Initiatives like this are a great example of how smart businesses make sure that they stand out from the competition in attracting these ultra-lucrative clients. Whether it is credit cards or airlines, no self-respecting company can afford to be second best when it comes to their most wealthy clients.
Implications - Incredibly wealthy clients and consumers know that their patronage is both valuable and highly sought after, so companies looking to entice them need to make sure they go above and beyond with the services they offer. Initiatives like this are a great example of how smart businesses make sure that they stand out from the competition in attracting these ultra-lucrative clients. Whether it is credit cards or airlines, no self-respecting company can afford to be second best when it comes to their most wealthy clients.
Trend Themes
1. Luxury Credit Cards - Opportunity for credit card companies to create exclusive, high-end cards with premium services for wealthy individuals.
2. Concierge Services - Disruptive innovation opportunity for companies to offer personalized, 24-hour concierge services for elite customers.
3. Elite Travel Benefits - Opportunity for airlines and travel companies to provide priority access to VIP lounges and luxury gifts for affluent travelers.
Industry Implications
1. Credit Card Services - Opportunity for credit card companies to develop innovative products and services targeting high-net-worth individuals.
2. Hospitality Services - Disruptive innovation opportunity for hospitality companies to offer premium concierge services and exclusive benefits to affluent guests.
3. Travel and Tourism - Opportunity for travel and tourism industry to cater to wealthy travelers by providing exclusive perks and privileges.
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