Re: Scotiabank’s new hockey-themed credit cards appeal to the true blue Canadian in each of us

https://blogs.ubc.ca/kristinab/2013/09/29/scotiabanks-new-hockey-themed-credit-cards/

Scotiabank’s marketing strategy is, as expressed in the referenced post, a solid plan for increasing the interest of consumers. The option of being able to choose a hockey team to support on your credit card will entice many Canadians to start using Scotiabank. While Capital One bank already has a customizable credit card option, Scotiabank has gone a step further to align themselves with Canadian values. Other banks may try to copy this idea, perhaps by representing other sports leagues, but as Scotiabank was the first to advertise this scheme, it has the first in market advantage. As the official bank of the NHL, Scotiabank also has an opportunity to grow in the United States, where it currently only serves corporations and not retail or consumer deposit. Combine this fact with the fact that Scotiabank is the third largest bank in Canada as well as being the world’s seventh strongest bank (2013, Bloomberg Markets), the opportunity for American growth is astounding. This opportunity is grounded in this new marketing strategy, and could launch Scotiabank to be a worldwide leader in banking.

Links:

http://www.gbm.scotiabank.com/AboutUs/AB_Awards_Rankings.htm

http://www.scotiabank.com/global/en/0,,6183,00.html

 

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