Alexandria Rivera
The marketing strategy that is used by Visa is the ability of availability even in their slogan they make it known that they’re easy to use and accepted everywhere. This entices people to use Visa brand cards because they are comforted by the fact that it’s available everywhere. They also make it well known that they’re ahead of the curve in their technology.
The counterpart is MasterCard. MasterCard takes a slightly different approach in the way they focus more on the modern aspect and simplified usage. Making it known to consumers that MasterCard isn’t complicated and very simple to understand. They want to be apart of your everyday life even in their slogan they make it known.
The way MasterCard could improve upon their marketing strategy is to emphasize on something that makes them unique to Visa. Visa is constantly bombarding people with all of the features it can do which entices people. MasterCard is often seen as the quieter relative. Being louder and establishing who they are in comparison to Visa could help with their marketing. What makes them unique? This is a question they should be asking themselves.
I believe it mostly is loyalty and word of mouth. People are easily swayed if a loyal consumer tells you how much they’ve loved their Visa. I also think the technology is higher. They made more of their cards tap cards before MasterCard.
Cites:
Bhasin, Hitesh. 01.11.19., Marketing Strategy of MasterCard.Marketing Strategy of Visa. Retrieved from https://www.marketing91.com/marketing-strategy-mastercard/
Strategic Marketing Planning 