{"id":200,"date":"2022-10-10T19:00:17","date_gmt":"2022-10-10T23:00:17","guid":{"rendered":"https:\/\/digitalmarketing.temple.edu\/capstone2022bghjmop\/?page_id=200"},"modified":"2022-10-10T19:00:17","modified_gmt":"2022-10-10T23:00:17","slug":"brand-positioning-brand-profile","status":"publish","type":"page","link":"https:\/\/community.mis.temple.edu\/creditvisible\/brand-positioning-brand-profile\/","title":{"rendered":"Brand Positioning &amp; Brand Profile"},"content":{"rendered":"<p><strong>Competitive Analysis<\/strong><\/p>\n<p><strong>FICO (Introduced in 1956)<\/strong><\/p>\n<ul>\n<li>Market penetration: FICO clients include more than half of the top 100 banks in the world, more than 600 personal and commercial line insurers in North America and Europe including the top 10 US personal lines insurers, 400+ retailers and general merchandisers, including one-third of the top 100 U.S. retailers, 95 of the 100 largest financial institutions in the U.S., and all the 100 largest U.S. credit card issuers and more.<\/li>\n<li>Tools: Videos, blog, events, webinars, social media<\/li>\n<li>Social presence:\n<ul>\n<li>LinkedIn: 338,450 followers<\/li>\n<li>Twitter: 9,388 followers<\/li>\n<li>Facebook: 4,800 followers<\/li>\n<li>YouTube: 2,810 subscribers<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><strong>VantageScore (Introduced in 2006)<\/strong><\/p>\n<ul>\n<li>Market penetration: Used by more than 2,600 financial institutions, 9 of the 10 largest banks, 43 of the 100 largest credit unions<\/li>\n<li>Tools: Videos, podcast, blog, website, social media, research and white papers, consumer credit insights<\/li>\n<li>Social presence:\n<ul>\n<li>LinkedIn: 2,222 followers<\/li>\n<li>Twitter: 48,400 followers<\/li>\n<li>Facebook: 63,405 followers<\/li>\n<li>YouTube: 1,410 subscribers<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>Similarities: Both FICO and VantageScore use the same categories for determining your score \u2013\u00a0 payment history, amount owed, credit mix, new credit, length of credit history<\/p>\n<p>Differences: While the categories are the same, the weight differs for each model; VantageScore ignores collections for less than $250; VantageScore uses a letter grade, while FICO uses a number grade; FICO requires at least six months\u2019 worth of credit history and at least one credit account that has been reported within the last six months. On the other hand, the VantageScore model only requires one month\u2019s worth of credit history and one credit account reported within the last two years.<\/p>\n<p><strong>Brand positioning statement<\/strong><\/p>\n<p>For young professionals and college students who haven\u2019t been afforded the opportunity to prove his or her creditworthiness, CreditVisible is a disruptive financial wellness assessment model that is based on a comprehensive history of debt repayment so they can increase their credit visibility and sustain a healthier financial well-being.<\/p>\n<p><strong>Brand Identity<\/strong><\/p>\n<p>Our brand logo is a representation of who we are as a company: simplistic, yet creative and innovative. The yellow to orange gradient going across the \u201cV\u201d makes it have a unique property, allowing it to stand out; just like us.<\/p>\n<p><b>Why we are the right team:<\/b><\/p>\n<p><span style=\"font-weight: 400\">Creditvisible\u2019s model is mutually beneficial for both consumers and financial institutions. <\/span><span style=\"font-weight: 400\">From a competitive landscape perspective, it\u2019s important to note that while FICO and Vantage are comparable from an industry standpoint, CreditVisible is in a category of one. Our model would essentially serve as a prereq to their models, not replace their models. Ultimately, our users would \u201cgraduate\u201d to the FICO \/ Vantage scoring model.<\/span><\/p>\n<p><b>Consumers:<\/b><\/p>\n<p><span style=\"font-weight: 400\">Individuals who are financially illiterate, lack established credit or have means to have family or friends help them establish credit (co-signer or added as an authorized user on a <\/span><span style=\"font-weight: 400\">credit card) as well as adolescents who are just starting out in life, immigrants, divorcees, widowers or elderly will all benefit from this offering.\u00a0<\/span><\/p>\n<p><b>Financial institutions:<\/b><\/p>\n<p><span style=\"font-weight: 400\">Financial well-being should be embedded in a financial institution&#8217;s customer service strategy. Only one in four customers strongly agree that their bank looks out for their financial well-being; however, when banks take time to address customers&#8217; financial well-being, <\/span><span style=\"font-weight: 400\">84% are fully engaged, ultimately <\/span><span style=\"font-weight: 400\">increasing customers&#8217; confidence in their primary bank and, in turn, having a higher percentage of their household&#8217;s total investments with their primary bank, creating long-term loyalty.<\/span><\/p>\n<p><span style=\"font-weight: 400\">According to the FDIC\u2019s National Survey of Unbanked and Underbanked households on average own more than 5 accounts across all types of financial institutions. In addition, <\/span><span style=\"font-weight: 400\">U.S. consumers keep checking accounts with banks for an average of 16 years and many keep their credit card provider for 10 or more years. Investing in the consumers financial wellness at the onset of their credit journey is a long-term strategic advantage for banks looking to attract loyal customers.\u00a0<\/span><\/p>\n<p><b>How potential customers will find us:<\/b><\/p>\n<p><span style=\"font-weight: 400\">We plan to leverage email marketing, paid search, paid social and programmatic advertising through geotargeting as well as display, connectedTV and streaming audio tactics to reach our targeted financial institutions to partner with.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><a href=\"http:\/\/digitalmarketing.temple.edu\/capstone2022bghjmop\/wp-content\/uploads\/sites\/467\/2022\/09\/CREDITVISIBLE-6.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-137\" src=\"http:\/\/digitalmarketing.temple.edu\/capstone2022bghjmop\/wp-content\/uploads\/sites\/467\/2022\/09\/CREDITVISIBLE-6-300x300.png\" alt=\"\" width=\"300\" height=\"300\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Competitive Analysis FICO (Introduced in 1956) Market penetration: FICO clients include more than half of the top 100 banks in the world, more than 600 personal and commercial line insurers in North America and Europe including the top 10 US personal lines insurers, 400+ retailers and general merchandisers, including one-third of the top 100 U.S. [&hellip;]<\/p>\n","protected":false},"author":4472,"featured_media":257,"parent":0,"menu_order":0,"comment_status":"open","ping_status":"open","template":"","meta":{"footnotes":""},"class_list":["post-200","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/community.mis.temple.edu\/creditvisible\/wp-json\/wp\/v2\/pages\/200","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/community.mis.temple.edu\/creditvisible\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/community.mis.temple.edu\/creditvisible\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/community.mis.temple.edu\/creditvisible\/wp-json\/wp\/v2\/users\/4472"}],"replies":[{"embeddable":true,"href":"https:\/\/community.mis.temple.edu\/creditvisible\/wp-json\/wp\/v2\/comments?post=200"}],"version-history":[{"count":0,"href":"https:\/\/community.mis.temple.edu\/creditvisible\/wp-json\/wp\/v2\/pages\/200\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/community.mis.temple.edu\/creditvisible\/wp-json\/"}],"wp:attachment":[{"href":"https:\/\/community.mis.temple.edu\/creditvisible\/wp-json\/wp\/v2\/media?parent=200"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}