Keep The Change Marketing Strategy

A brand is an association to a name or symbol, much like a reputation. A company’s success is often based on how much the consumer likes their products, which leads companies to market their products in a way that they can attract customers. When anyone sees an Apple logo on a computer or phone, they automatically know what company it is associated with and what to expect from the product. Managing a brand is one of the most important aspects to a company 's success because it is what grabs people 's attention and gets them to purchase a product over a competitor. The reputation of a company is extremely important when it comes to producing new products. If a company has a poor reputation, customers will not be intrigue to buy the new product …show more content…
The team first created a Web-based cartoon that showed a woman buying a cup of coffee in a store for $1.50. The ad was posted online along with a poll to see if people thought this was a good idea. Luckily for them, they got a lot of positive feedback and so began their journey to market their new service. Their first, and most influential, marketing strategy was to create these giant, 20-foot-long velvet couches and fill them with coins. The point was to encourage people to dig through the couches and get change out of them, showing them that most of the time they throw away change without realizing its value. Another marketing strategy that Bank of America had was to co-sponsor events with the NFL, which drew a large amount of attention to the bank and their new service. Other marketing strategies included commercials during the winter Olympics and online ads. Bank of America has been so successful that to this date, 99% of the people who signed up for “Keep The Change” have stayed with …show more content…
One of the most convenient ways to plan your savings is by using your smart phone. There is an app called Qapital that allows you to link your debit card and bank account to essentially keep a portion of what you spend. Instead of only keeping the leftover change the app allows you to set up what amount you would like to save and you can even split the portions into different savings funds whether it be for a trip or saving for a house. They also have a setting for guilty pleasures. So if you shop or spend at a place that is considered your personal guilty pleasure, a larger amount is required to be transferred into savings. But these settings are completely controlled by you. Another competitor, US Bank has the “Smart Start” program that rewards its participants with $50 dollars deposited in their money market account when their savings goal has been reached (U.S. Bank START Smart Savings Program,