Discover Card Rebranding

(Part 2)


4. Reward students for good financial behavior.
Our targeted audiences for this PR effort will be parents, college students, Discover Cardholders, colleges, and the general credit card consuming audiences. By directly stating and demonstrating our leadership in student credit cards, we will be the first in the market for this type of public relations. All credit card companies receive a bad rap regarding student lending practices. We are the first to do something about it, which will set us apart from the pack.

Our BIG IDEA is that of one which creates an entire comprehensive approach that helps students manage their credit cards, learn about financial management, develop good practices, and reinforces through rewards. Students will be able to log-in to their Discover Card account online, and instead of the regular consumer dashboard, they will have a unique dashboard that includes a letter grade of their credit card use, educational resources, rewards they have earned, and metrics that tell them where they are spending their money. It would also be helpful to send messages to the dashboard that offer suggestions for better management of their account, payment reminders, and other information necessary to educate these young consumers.
We would also develop an app for use with smart phones for students who are on the go. This would keep them up-to-date on their financial progress. We would send them email updates regarding new info to their account, financial education, and progress reports. Social media would also play a big role in this as well, where they could link and share rewards and letter grades with several social media platforms. At the end of their education, we would give them a final GPA. A “3.0” or higher would guarantee them a larger credit limit and a non-student account.


The tools we would use to promote this idea and effort include:

1. Uncontrolled meda –
a. Press releases
b. A press conference announcing our intentions

2. Semi-controlled media –
c. Electronic communication
d. Special events and sponsorships
e. Word of mouth

3. Controlled media –
f. Annual reports

Effectiveness of this effort would be measured by what people are saying online, marketing research, and delinquency rates of student accounts. We must listen to the public and the uneducated consumer when it comes to this program.


Comprehensive conclusion


Overall, Discover Financial Services is a great company with high growth potential. It is increasing market share and merchant acceptance worldwide. This efforts must continue by bundling with Visa and Mastercard. The firm must continuously position itself as the top rewards program and the ONLY rewards program. Educating student account holders will also benefit the organization as first in the market to put the student first. This will set DFS apart from the rest of the pack. The return on impact will not only put them in good public graces, but will reap rewards financially in the future as the students are converted into lifelong Discover card holders.