The need to stay abreast of new trends in the marketplace was
underlined by Mr Ajay Bhalla, vice-president of marketing at
Mastercard.
He cited the results of a series of studies, which underlined the
decline in the importance of materialism around the world.
"In the 1980s, people were very materialistic. But that began to change
in the 1990s and today we seem to have come full circle. The current
consumer attitude is that people want control of their life, be
satisfied with their life and have good family values," Mr Bhalla
said.
Because of this change, Mastercard launched its "Priceless" campaign in
the West a few years ago.The same campaign was customised for
Asia-Pacific and was only recently rolled out in this region.
Mr Bhalla said that while its competitors were still positioning
themselves as promoters of "rich lifestyles", Mastercard's campaign
emphasised that its cardholders "lead rich lives" in spiritual and
family terms.
The campaign has had a successful impact in the US, where awareness of
the brand has increased from 23 to 29 per cent.
