Interest and reaction time analysis of credit card offers: Gather raw material

This first step gathers together dozens or even hundreds of elements. The elements comprise small, single-minded phrases, or pictures. Examples of this raw material appear in Table 1. The creation of elements follows a standard, simple approach, in which the participants in a small group first identify the general categories of elements, then try to fill up the categories with elements. The pre- work phase below continues this initial creativity session. Either professionals and/ or customers participate in the creativity session. Within two hours the session can develop hundreds of elements. It is worthwhile noting here that although the approach sounds and is relatively easy, many marketers and marketing researchers feel overwhelmed at first. It appears that many in the business community have been taught to suspend their creativity in favour of tight little study designs, wherein the richness of language is boiled down to a set of independent but overly ‘general’ phrases that carry no emotional richness at all.

Table 1 Example of elements


Category


Element

Visual

Yellow car in front of crowd

Visual

Gold card with shadow of race car

Application

With your application you get an opportunity to have your photo
taken with Damon Hill

and the Jordan car

Application

With your application you get a Jordan Grand Prix team cap

Acquisition

On acceptance of your application, you get an exclusive Formula One
credit card

Acquisition

On acceptance of your application you will be entered into a draw
for Silverstone Grand

Prix tickets

Stuff

As a card holder you get the official Jordan team magazine

Stuff

As a card holder you get one airmile for every £15 spent

Celebrity meet

The NatWest Jordan Formula One Card is
the
card that gives you behind the scenes

access to the Jordan team

Celebrity meet

The NatWest Jordan Formula One Card is
the
card that can get you the opportunity to

meet Ralf Schumacher

Convenience

Widely accepted around the world

Convenience

Even more convenient than cash

Service

Exceed your expectations as a cardholder with dedicated service
support

Service

24 hour, seven days a week customer service

Offers

Offers life Insurance

Offers

Automatically receive a bonus with each purchase

Range

More widely accepted than many other credit cards

Range

Accepted by all your favourite places

Emotional

The only card for the true Formula One racing fan

Emotional

For people who demand the best

Pricing

No annual fee Jordan team credit card

Pricing

Premium fee for special added-value Jordan benefits

Representative APR 391%. Average APR for this type of loans is 391%. Let's say you want to borrow $100 for two week. Lender can charge you $15 for borrowing $100 for two weeks. You will need to return $115 to the lender at the end of 2 weeks. The cost of the $100 loan is a $15 finance charge and an annual percentage rate of 391 percent. If you decide to roll over the loan for another two weeks, lender can charge you another $15. If you roll-over the loan three times, the finance charge would climb to $60 to borrow the $100.

Implications of Non-payment: Some lenders in our network may automatically roll over your existing loan for another two weeks if you don't pay back the loan on time. Fees for renewing the loan range from lender to lender. Most of the time these fees equal the fees you paid to get the initial payday loan. We ask lenders in our network to follow legal and ethical collection practices set by industry associations and government agencies. Non-payment of a payday loan might negatively effect your credit history.

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