After All, It's Just a Slogan
Eric Dash, writing in the NY Times today discussed how Citigroup is quietly backing off their slogan, "A Deal is a Deal" , which pledged to consumers that the issuing giant would no longer reserve the right to increase fees at any time for any reason. Announced by top Citigroup executives last year, one could almost see John Wayne reaching out his hand to consumers and looking them straight in the eye. Some members of Congress even went gaga over these heroic efforts to play it straight with the American public - back slapping all the way around.
What! Consumers didn't flock to Citi and apply for their "honest" credit card!? Apparently not, since "A Deal is a Deal" is now the same only different. But not really, because after all dear reader- it's a slogan. A slogan is a marketing device and most American consumers are savvy enough to figure that out. Add our ability to shop around for the best credit card deals to the rest of the public who couldn't tell you how much they pay in interest on their cards locked in a room with their statement and their accountant, and mix in a recession to get instant new slogan.
Maybe it should be something like "I'd Deal Me.".
Or, perhaps credit card lenders should look ahead and work on creating products that have real, sustainable market value. The kind of products that consumers will use again and again because they are fairly priced and make their lives easier.
How about that for a slogan?
Comments