Kindly help me with this case study:

Chase Sapphire Reserve: Creating a Millennial Cult Brand

1. What is your assessment of the Chase Sapphire Reserve card? Is this a good product for JPMorgan Chase overall? For the Sapphire brand in particular? Why or why not?

2. The behavior of individual adopters of the card will vary in how much they spend, whether they pay all of their charges in full each month, and whether they churn (i.e., whether they renew their card annually or not). As noted on the top of page 3 in the case, three customer archetypes were transactors, revolvers, and dormants. Assume the following for each type of customer

Transactors/Revolvers:

o Both spend $16,000 per year

o Credit balance carried: $0 for transactors, 50% of annual spend for revolvers

o Interest rate average: 21%

o Renew the card at $450 annual fee

Dormants:

o Spend only enough to earn the sign-on bonus Credit balance carried: $0

o Do not renew card at $450 annual fee

How can the Chase Sapphire team best design its product and brand to attract the right customers? Has it done so successfully with the Chase Sapphire Reserve? Why or why not?

3. A major element of solid strategic planning is anticipating the counterattack and competitive maneuvering. If you put yourself in the shoes of a competing credit card provider, how would you respond to the Chase Sapphire Reserve? Then, how should Chase position itself to be ready for these (hypothetical, albeit plausible) competitive responses?

4. Over time, the Sapphire brand evolved from a single product (launched in 2009) to a three-item product line as shown in case Exhibit 5. Going forward, how would you manage the Chase Sapphire brand and product portfolio? Does Chase have the right number of products in the line? Are the features of each product the right features? What changes, if any, would you make to the Chase Sapphire Preferred card given Chase Sapphire Reserves success? What would you do with the no-fee Chase Sapphire product? What, if any, changes should be made to the Chase Sapphire Reserve card?