WalletHub's Ask the Experts Article Features Setphen Rapier
WalletHub recently interviewed Stephen Rapier to share his marketing expertise. The article discusses how the most prestigious and most exclusive credit cards can be seen as status symbols and work as a marketing tactic. “The consumer’s perceived value of a brand may be influenced by several decision criterias or ‘pain points’ related to the functionality of the product or service… high-end consumers may actually be influenced by some psychological factors, such as their perception of the typical customer, the market associated with the band and the image they will have of themselves with using a more exclusive brand,” Rapier shares with WalletHub. Rapier also states how the issuer of an ultra-exclusive credit card benefits from a smaller customer base with customer loyalty, as well as serves as a marketing tactic for regular customers to aspire towards.
The full article is available on WalletHub.