Wallethub – To what extent are exclusive credit card offers really status symbols?
Exclusive credit card offers are really status symbols to the degree of benefits offered. High credit limits, low interest rates, benefits of immediate balance clearing, and other benefits make the high annual expense exclusive credit cards worth it or not. Without meaningful benefits, these cards are just show pieces that call into question the real financial literacy of the carrier.
Wallethub – Reward credit cards are best suited for consumers that can readily take advantage of the benefits offered by card membership. Most travel, hotel, and other like vendors offer rewards programs to consumers with points or other benefits that just sit in accounts until they can be used, or worse yet, expire. For airlines, the best rewards are free or upgraded travel on that airline. If the airline does not provide regular service to locations frequented by those business travelers, it may be hard to justify membership in that club. If membership is free with no obligations, then it membership doesn’t really matter.
WalletHub – Q; Do you think Liberty Mutual’s tagline about customizing insurance to customers’ needs really distinguishes it from other insurance companies?
A: The “only pay for what you need” campaign is supported by several humorous vignettes with established characters, building familiarity and trust. The storylines are attention-getting, memorable, and pleasant. This is the strength of this campaign.
Wallethub – We ask Kevin McEvoy:What does it say about car insurance companies that so many have celebrity endorsers?
Car insurance companies, as well as all insurance companies, need to find ways to differentiate themselves from competition. This is not an easy thing to accomplish when the product is not something consumers enjoy thinking about or purchasing. Plus, products can appear so similar.
WalletHub – Is it fair for consumers to assume that the most popular credit cards are the best credit cards?
“Popular” need to be defined as “most used,” or as one of the current ad campaigns says, “What’s in your wallet?” In this sense, it is not really a matter of fairness, it is a matter of delivered value.
Wallethub – Which do you think is a better indicator of a good car insurance company: low rates or good customer reviews?
Shopping for insurance is really a multi-step process. Low rates are an attention-getter. They will stop and attract a shopper but will not automatically convert a shopper into a customer.
Record-Journal – Imagine a 30-foot box truck transformed into a mobile tuxedo store.
John Dominello, owner of Modern Formals, came up with the idea three years ago.
“It’s all about convenience and service,” Dominello said. “Like any good business, you have to adapt and evolve with the times.”
Kevin McEvoy, an assistant professor-in-residence in Marketing, has been selected to receive the University’s Faculty Excellence in Graduate Teaching Award.Continue Reading