Mastercard : Priceless

Brand : Mastercard
Company: Mastercard Worldwide
Agency: McCann Erickson

Brand Count ; 165

Mastercard is one of the pioneers in the global credit card business. Born in 1967, the brand is the second largest player in the Indian plastic money market trailing behind the global leader Visa.
Diners Club issued the world’s first universal credit card in 1920. Mastercard was born from an alliance created by United California Bank, Wells Fargo,Crocker National Bank and Bank of California. This alliance was pitted against the Bank Americard issued by Bank of America that later became Visa.

The original name of Mastercard was Master Charge Inter Bank Card which later shortened to Mastercard in 1979. In 2002, Mastercard International was absorbed by Europay International SA and in 2006 the company changed its name from Mastercard International to Mastercard Worldwide.

The business of credit card works in different layers. There are four players in the business.

1. Network
2. Issuer
3. Users
4. Establishments

The networks consists of players like Mastercard ,Visa who are the credit card companies .These companies have linkages and association between different banks and facilitate transactions between users , the establishments and the banks .The issuers are the banks that issue the credit cards like the ICICI, HDFC etc.The users are card users and establishments are those who accept credit cards as a mode of payment.

How credit card works?
When the user buy something, the network ratifies the user’s credibility and authorize the establishment to proceed with the transaction.The netwok then instruct the bank to make the payment to the establishments.(This the layman’s description of how credit cards work).

The credit card companies make money through the association fees paid by the banks and the fees paid by the establishments. The issuers make money by the interest charges paid by the users when they avail the revolving credit facility. Issuers also charge the users annual fees for issuing the card.The establishment benefits by the higher purchasing power of the users .

Mastercard is positioned on the emotional platform rather than on the rational platform that Visa uses. The brand has the famous campaign “ There are somethings money can’t buy, For everything else there's Mastercard”. The campaign known as Priceless campaign was launched in 1996.The campaign executed by Mccann Erickson rejuvenated the sagging fortunes of the brand during 1996. The brand at that time was facing disaster, the sales was sliding and the competition from Visa was slowly pushing Mastercard to oblivion.The Priceless campaign was indeed Priceless for the brand.

The main attribute that consumers look for in a credit card was its acceptability in shops ( reach). Visa was a leader in this and the positioning was based on its awesome acceptability.Together with the reach, the Visa also was building its equity through celebrity endorsements.

Mastercard at that time had no clear positioning and was not focused on any one attribute.This diluted all the previous campaigns for Mastercard. What the brand needed badly was some meaningful differentiation.

The Priceless campaign was aimed at differentiating this brand on the basis of intangibles ie emotions. The campaign is based on the big idea that cost of ownership is one thing and the emotional value that one derives out of it is another thing. Mastercard wanted to say to the consumers that the Mastercard is the best way to pay for every thing that matters. It wanted to show how the purchases can enhance the quality of the consumer’s everyday like. So the brand takes Money as a competition rather than other cards. This campaign is cited as an example of breakaway positioning .The campaign is already 10 years and some 170 campaigns old .This is a classic case of a successful global positioning and one of the most successful campaigns ever.

In India too the brand is riding on the Priceless campaign. The company very cleverly mixes local version of the campaign and the global versions to keep the excitement live. This campaign has established the brand recall for Mastercard in the Indian market. The Indian credit card market is a large one with a market size of $4 bn and there estimated to be around 17 mn cards and growing very fast. The market is skewed towards Visa but Mastercard has gained its rightful share with the help of the Priceless campaign.

Priceless campaign was extended not only to the credit cards but also to other retail products of Mastercard. The campaign is now extending itself to consumers and asking consumers to share their Priceless moments with the company through its website “ Priceless.com”. The brand is an example of the power of Big Idea and a lesson for all who are bored with a successful positioning and want to change the positioning for the sake of change.

Source: Breakaway branding by Kelly &Silverstein, Wikipedia,mastercard.com

Brand Update : Parachute

Parachute is getting bigger and better. This super brand from Marico has moved into the next level. The brand is running a new campaign for its variant Parachute Advansed. The campaign titled Gorgeous Hamesha is one of the best ads I have seen in recent times

Watch the TVC here : Gorgeous Hamesha

The campaign is a classic example of Laddering . Laddering is deepening the meaning of a brand to tap into core brand values or other, more abstract considerations. For effective laddering, the target group should have a clear understanding of how the brand relates to alternatives in the same category ( Kevin Lane Keller).
Here in this case Parachute has established itself as a hair oil brand, the time was ripe to move up from a basic positioning to some thing more deep. The brand is aiming to reach a higher ladder through its variant Advansed.

In the new campaign Gorgeous Hamesha ( translated to Gorgeous Always) , the brand talks about its efficiency in strengthening the roots of the hair so that you look Gorgeous Always. The brand has embarked on a 360 degree campaign with contests, viral campaigns and media promotions.
The brand has taken a lesson from the iconic Mastercard's Priceless campaign discussed elsewhere in this blog. Like the Priceless campaign, Parachute Advansed is also trying to capture those " Special Ordinary Moments " in life where one looked Gorgeous. The brand has roped in Deepika Padukone as the brand ambassador.
What I liked about the campaign is that it captures the very essence of the brand in a simple way. The ad is sticky and the music is impressive.More than that the message is very simple subtle and effective.
I hope that the brand continues to build on this new Gorgeous concept.

Related Brand
Parachute

Coca Cola India : Little Drops of Joy

Corporate Brand : Coca Cola India
Agency : McCann Erickson


Brand Analysis Count : 271

Coca Cola India for the first time has came out with corporate campaign in India targeting its stakeholders. The multimedia campaign " Little Drops of Joy " is aimed at raising the corporate brand image of the company which took a heavy beating with a number of controversies it faced in different domains.

The new campaign is a part of a complete restructuring exercise in the Indian arm of this global change. Coca Cola recently announced its new corporate strategy called the " 5 Pillar " strategy. The company has identified the 5 pillars as

People
Planet
Portfolio
Partners &
Performance.

The Little Drops of Joy is a part of the communication strategy aimed at projecting the company as a responsible Corporate citizen whose main aim is to bring JOY into people's life. The main idea of this campaign is to lift the corporate brand from a single brand focus to a multi brand company ( a portfolio of brands). Little drops of joy campaign also aims at a image make over. The company plays down its size ( multinational ) and becomes more humble and approachable. The concept is communicated through the manifesto which now becomes the guidelines for future company operations. The manifesto is given below

A mighty ocean we’re not.
But we are the little drops that make one.
Because small things go a long way. At Coca-Cola India, we believe that there’s more to a little sip. It’s the moment of truth. A second of satisfaction. An instant of happiness. A bubble of hope. Because we don’t quench your thirst. We recharge your soul. For one moment. One drop at a time.

The new direction reminds me of the former Chairman of Coca Cola , Robert Goizueta who asked the company managers to capture the Share of Fluids taken by a customer rather than bothering about the competition from Pepsi.Likewise Coca Cola is trying to capture those little moments of joy.

Watch the TV Commercials here : Coca Cola Corporate

I cannot say that this commercial has a Big Idea. The idea is a copy of Mastercard 's Priceless campaign . The execution of the commercial is OK but for me its too much of Hindi (Havn't seen an English/Malayalam version.
The new campaign makes lot of sense for Coke since it has faced issues of pesticides , groundwater exploitation controversy at Plachimada in Kerala which hurt this brand more than the rival Pepsi.
Through this campaign , the company aims to gel with the Indian consumer as its own rather than a western one. Its sad since Coke has been more local in advertising than Pepsi but had to bear the brunt more than Pepsi in these controversies.

But will these campaigns help the makeover, I guess not. It will be actions that will speak louder than ADS in the case of Corporate Brand Image. Trusted corporate brands like TATA , Infosys and the likes has built its reputation through its actions rather than ads. Coca Cola globally is respected as a highly ethical corporate citizen. Its sad that in India, the company had to face unexpected setbacks from some of the stakeholders. The company has now identified its mistakes and these campaigns ( I hope ) are just a signal of the beginning of a new era for Coca Cola India.

Source: agencyfaqs.cocacola website