In a multi-agency pitch, Orchard Advertising, Bangalore has bagged the Manhattan card account of Standard Chartered Bank.
The size of the business is estimated to be more than Rs 10 crore.
The development has been confirmed by Sugata Banerjee, head marketing, consumer banking, Standard Chartered Bank.
Besides Orchard, the other agencies in the fray included Bates and JWT. In fact, JWT handles the Standard Chartered Bank's advertising account. However, the bank decided to align the creative duties of its recently launched Manhattan cards to a separate agency.
Interestingly, the decision of selecting Orchard as the agency was done by the consumers themselves. Explains Banerjee, "Based on the presentation, we did a market survey seeking consumer response on the presentation given by Orchard."
Standard Chartered PLC acquired the Chase Manhattan Card Company Limited for $1.32 billion in 2000 and launched Manhattan Credit cards in Singapore. It's now that the bank is launching the Manhattan cards in India.
Manhattan Cards are aimed at consumers in the 25-35 age group with a annual income of Rs 2.25 lakh or above. The uniqueness of this credit card is that no annual fees is charged for it and the interest rate varies depending on the usage and payment pattern. In fact, the interest rates can be as low as 1.49 per cent per month.
The company has a full 360 degree marketing plan ready for brand promotion - which would include television, print, outdoor, radio, Internet as well as below-the-line activities.
The total media spend between mainline advertising and below-the-line activities has been divided in the ratio of 60:40.
And among the mainline advertising medium, television has been allotted 60 per cent of the advertising budget, where as print and outdoor spends will be 15 per cent each. The balance 10 per cent will be divided among other medias like radio and Internet.
For below-the-line activities, the bank has hired the services of Thomson Connect. Banerjee says, "For on-ground promotions, we plan to tie up with multiplexes and malls."
The credit card company is introducing four clubs for the consumers which will conduct several events such as booking a multiplex on the first day of the release of a movie, organising fitness camps or fashion shows - exclusively for the card holders.
Orchard Advertising is the second agency of Leo Burnett and it's recent claim to fame was handling the creatives for Congress' election campaign.
© 2004 agencyfaqs!First Published : September 02, 2004