MasterCards Priceless Campaign

Question: Discuss about the MasterCards Priceless Campaign. Answer: Introduction: This report describes the Priceless campaign of MasterCard. It also describes how this campaign helped MasterCard to grow globally. The Priceless campaign by MasterCard was a remarkable step for the company to enter the global market. MasterCard was a consistent brand, but it did not have a brand image. The Priceless campaign helped the company to create a proper brand image and set a platform for MasterCard in the global market. The priceless campaign of MasterCard was a major success for its first step to making a global brand image. When the company did a market survey in the year 1997, the study revealed that MasterCard brand needed a proper repositioning. MasterCard was always a trustworthy and respected brand. However, MasterCard was struggling for a unique global brand image. In this highly competitive market, it is important to have a famous brand image to attract the clients. MasterCard felt the need of a global brand image for the growth of the brand and few marketing strategies. The global brand image would enable the brand to communicate with the consumers in the market. The global branding helps the company to strategise for the different local markets. The local preferences, culture, needs should be understood to be successful. Like in U.S in 1997, MasterCard began the campaign through a tie-up with Major League Baseball by becoming their title sponsor (Fortunato, 2013). A global brand image was important for MasterCard to obtain the brand leadership in the world market. The global brand image helps to define the products of the brand, approach flexibility, and customized messages for local markets. A distinct global brand image helped MasterCard to become the market leader across the key territories. Having a global brand image reduces the complexity of marketing policies and increases the sales and growth of the company. A global brand image shares the same tag line in all countries. Whenever consumers from different parts of the globe would search about MasterCard in the social media or watch advertisements in the televisions, they would receive the exact same brand message (www.adweek.com, 2016). MasterCard's Priceless campaign differentiated the brand from its competitors. The campaign integrated the target market for MasterCard. The Priceless campaign was based on proper market research and analysis. This brilliant campaign in 1997 helped the company to understand the needs of the consumers, relationships, and emotional values. The priceless campaign was conducted in different global markets to check whether MasterCard would work around the globe or not. The assumption taken by MasterCard while conducting the survey was that the needs of the clients were same everywhere. The Priceless campaign enabled MasterCard to identify the local spots to grab the global market (www.rotman.utoronto.ca, 2016). The campaign had set the platform for MasterCard to approach the global markets (Consoli, 2016). The versatility and universality features of this campaign were the reason behind its immense success. New ideas and proposals from this campaign opened the door for the MasterCard in t he global market. The utility of the priceless platform was not limited to an only sponsoring sports team or tie up with FIFA in the world cup (Constantine, 2012). Priceless Edge' was a college program conducted by MasterCard as part of the campaign. The Priceless campaign is not a simple one-time survey; it is a continuous process of innovation. The priceless campaign is dedicated to finding new opportunities for MasterCard and reaches the new areas of the market. Different merchant locations and financial houses participated in the campaign to share their views. The use of MasterCard was increased because of the Priceless campaign. The Priceless platform enabled MasterCard to open the new franchise in different countries and reach to some clients. With the help of the Priceless platform, MasterCard developed integrated marketing promotions and policies, which fits the ideology of MasterCard (newsroom.mastercard.com, 2016). Conclusion: This report has discussed how Priceless promotions guided MasterCard to create a proper global brand image and how MasterCard analyzed whether the brand would do global business or not. The survey included a maximum number of consumers and financial institutions to understand the market and needs of the clients. MasterCard did not have any proper positioning and marketing strategies. The company had lost the consumer confidence, and they had no marketing or promotions. The priceless campaign resolved all the issues and differentiated the brand from its competitors. The Priceless campaign made MasterCard the payments in the global market. References: Newsroom.mastercard.com,. 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