This is the detailed brand equity analysis of Visa which is one of the leading financial service provider across the globe.
Brand Associations
Visa Inc. is one of the best multinational financial service providers that provide transfer through credit cards, debit cards, and electronic funds. Visa has possessed almost hundred billion transactions, and it has transferred $6.8 trillion in 2015. The brand’s biggest competitors are American Express and MasterCard, but Visa provides three times and fourteen times greater transactions than the MasterCard and American Express respectively. The products that Visa offers are Payment Systems and Credit Cards. The company has proclaimed to launch a sensory-branding with the help of the new sound, vibration, and animation techniques that aid Visa to improve the digital transaction services.
Brand Awareness
Visa Inc. doesn’t need advertisements and public relations policy because of its business to business kind of company, but it often takes part in consumer advertising to create a bond and trust among customers. The brand’s most memorable advertisement was with the Olympics, and it has helped to attract customers towards the company. It targets the consumers of limited sectors like Businessmen, Retired people, Office Employees, and big corporate companies that need immediate transactions on a daily basis. The customers are generally in the age-group of 20 to 40 years.
Brand Loyalty
Visa Inc. has loyal and sensible customers because of excellent and kind of unique services as compared to other MasterCard and American Express. The company has always tried to communicate with their clients, and this quality does not exist in the rivals. It connects with regular banks payment, and it charges the transaction fee at highest rates, and the customers are willing to pay because of the brand’s reliability. Visa Inc. has 3.1 billion Visa Cards, 16,800 financial organizations clients, and over 44 million merchants worldwide in 2016.
Brand Assets
Visa Inc. is providing its services in more than 200 countries that include America, North America, Europe, and all Asian regions. It has developed trust, the convenience of the stakeholders, and reliability among consumers, and it has achieved a highly positive brand value. Visa’s brand value in 2016 was $189.8 billion that based on market share. Visa Inc. uses the latest technology with the collaboration of technology-based companies like Samsung, Microsoft, and Google that enable the brand to support thousands of world’s financial organizations.
The brand has ranked 27 in the list of the most innovative companies in the world, 30th in the list of the most valuable companies in Forbes magazine, and it has ranked 61 in Interbrand’s best global brand in 2016.
Brand Elements
The tagline of Visa Inc. is “Everywhere you want to be,” and it perfectly goes with the image of the brand. The old logo of the brand was blue, white, and in golden color, and it was very famous back then. It has a new logo now, which is not as good as the former one but still, people accepted it warm-heartedly. The latest logo of the brand is in pure blue color, and it is now quite easy to remember.