Case Study: Chase Sapphire: Creating a Millennial Cult Brand

a$.$ How did competitors react to the introduction of the Chase Sapphire Reserve card? How has Chase positioned itself and the Sapphire Reserve card to be ready for these competitive reactions? $($Note: we haven$$t discussed managing competition in detail at this point, but you should still be able to answer this question based on what you learnt from other marketing classes; there should also be a detailed discussion on how Chase positioned itself$/$marketing efforts toward the millennial segment$)$