The case study is about cred which is one of the indian unicorn startups .this case study consists different business aspects of cred their unique marketing strategies and challenges faced by cred also the future goals of cred. this case study will provide a insight on different components of startups.

1. CASE STUDY
CRED
SESSION: 2021—2022
Name - Meenakshi Vehrat
Class – M.com Final

2. Index
S.NO TOPIC PG.NO
2. objective
3. Introduction
4. Use Of Cred
5. Target Audience Of Cred
6. Cred’s Other Product
7. Influence Users With Marketing Strategies
8. Benefits Of Cred
9. Challenges Faced By Cred
10. Future Plans Of Cred
11 Conclusion
12 Bibliography
1. Abstract

3. Introduction
Cred is a fintech unicorn startup .The motive behind finding this startup
was to automate day to day transactions and help start the credit
revolution, much like the US credit-dependent economy. With the
burgeoning middle class of the nation, Cred came into existence in 2018
as the time was ripe to expand the young credit card user base in India.
As an organization, Cred, through its app, works on facilitating credit
transactions of its users and rewarding them with Cred Coins which in
turn can be used within its app to redeem discounts and cashbacks. In
simple terms, Cred rewards its users for paying credit card bills. Cred
also offers services like Cred Stash which offers a credit line to its users
and Cred Rentpay which provides the ability to pay rent with a credit
card. The vision of its founder is to make India a creditworthy country
by paying their credit bills on time and improving their credit score

4. Use Case of Cred
Today in this fast-paced life, there are so many monthly payments to make,
especially credit payments such as EMI of that new car or of that new house
or maybe for that new mobile phone you purchased using the credit card.
Such payments are very important and missing such deadlines can lead to very
hefty late payments charged by the bank. Believe it or not, a Credit Card
Company’s major source of income is the very hefty fines they charge for these
late payments. This is exactly where Cred kicks in — making it easy.
Target Audience of Cred
As a business, Cred targets a very particular niche i.e Credit Card Users. It
initially targeted wealthy individuals and created a community called Cred
Club. However, today anyone with a credit score of more than 750 points can
get access to the facilities of Cred and be a part of its club. As of now, it is
focusing on targeting Generation Of people between the age of 25 and 40,
especially those over the

5. CRED's Other Products
Going beyond Credit Card payments.
 CRED pay: It helps members to utilise their CRED coins for cashback by
taking advantage of deals on their favourite merchants across various
categories using credit cards saved on the CRED app.
The feature saves its users the time and effort of visiting multiple e-
commerce sites, searching for products or deals, and entering payment
information each time.
 CRED Cash: Launched in partnership with IDFC bank, CRED Cash give
its users access to instant credit up to ₹5Lwithout any forms, phone calls or
physical visit. Users are charged interest on the amount withdrawn.
 CRED Mint: It allows its users to lend money and earn interest rates of up to
9% per year, which is significantly higher than savings accounts and other
traditional forms of deposit.
The investments made in CRED Mint are to be lent out through CRED Cash.
That means, CRED

6. members can lend their hard-earned money to other creditworthy
individuals like them. Lenders can invest between ₹1,00,000 and
₹10,00,000, and earn returns for the period invested.
 CRED Max (Earlier RentPay): Members can pay their landlords'
monthly rent with their credit cards. Although, CRED does charge a small
service fee for the service (up to 1.7 %).
 CRED Store: CRED has partnered with a variety of companies in a
variety of industries, including health, travel, and e-commerce, to allow
users to spend their CRED coins and receive offers and discounts when
purchasing these products and services through the platform.
 CRED also has two unique features that users say are a
big help: "Card
Protect" and "SmartStatements," These features analyse
users’ spending
patterns and alert them to any unauthorised fees charged
to their card.

7. Influencing Credit Users
with Marketing
Cred has several different marketing strategies. Some are viral marketing
moves while others are as simple as releasing simple finance-related blogs
and rewarding users with cashback and discounts.
But every strategy has two things in common, uniqueness and the ability to
create brand awareness & brand recall.
 Cred has partnered with the Indian Premier League (IPL) as
an associate sponsor for 3 seasons and most of the
marketing activities done by Cred are also during the time IPL
kicks off. They organize social media contests, marketing
campaigns and advertisements. This helps the brand gain
more exposure and create trust among the general public.

8. Sending Cakes – A Customer Acquisition
Strategy using Existing Users
Imagine it’s a Tuesday and you’re working on your boring day shift job and
suddenly out of nowhere, you receive a cake as a reward for paying bills.
Delighted, isn’t it?
Yes, that’s what Cred did. In 2019, Cred attempted this customer acquisition
move, targeted towards colleagues of existing users.
All it did was sending a cake to the user’s workplace, making every
colleague eventually ask “who sent you this cake?” to which the user
naturally replied, “Cred, it’s an app for paying bills” and thus generating
guaranteed app downloads.

9. decade, free flights for five years, a TATA Safari car, a complete home
makeover and a Bitcoin!
Cred Powerplay Campaign
Just like the Mega Jackpot campaign, Cred came up with the Cred Power
Play campaign during the IPL 2021.
The concept was simple. Pay during the powerplay overs of the IPL
game and stand a chance to win assured 100% cashback on the bill
payment. The winner also stood a chance to get featured on the virtual
fan box.
Basically, Cred offered to pay one credit card bill for each IPLgame
Cred Mega Jackpot Week Campaign
Cred rolled out Mega Jackpot during IPL 2021. From
winning iPhone’s for a decade to Bitcoin. This campaign had it all.The
concept behind this campaign was to offer its users a chance to
participate and win jackpots. As the name suggests, Mega Jackpot Week,
Cred gave away seven different rewards such as Gold, Harley Davidson
Fat Boys, brand-new iPhones .

10. Benefits
1. CREDIT CARD PAYMENTS
You can add all of your credit cards in the app, track the payment due dates and pay the
bills directly from the app. You don’t need to check your credit card statement every month
separately. For payments, you can use net-banking or UPI apps.
The whole process of payments is very swift and smooth.
2. FREE CREDIT REPORT & SCORE
You would be able to see your CIBIL score and credit history free of cost..You will get your
first report free. After that you can check your latest score by spending 1000 CRED points
3. CASHBACK ON PAYING BILLS
You would earn cashback on your bill payment transaction. You would see the option to
#killthebill just after making a payment of more than Rs. 1000
4. DODGE INTEREST PENALTIES
a bank gifts you the freedom (under a set credit limit, of course) to undertake hassle-free
transactions each month.

11. responsibility for paying your bills on time the challenge arises when the
users either don't clear the dues in full or avoid paying them in a set month.
as with any loan, the bank is obligated to charge you an interest fee for this
action. and these interest fees may drain your savings account.
5. MAINTAIN A TAB
while it is convenient to swipe the card for instant purchases, you must
maintain a tab of these expenses.
the reason you fall into a debt trap is that you're unaware of the amount
you're going to owe to the
bank.
unfortunately, in this process, the credit card takes a
hit on its reputation.as a responsible cardholder, you must incur the
expenses you can afford. while the temporary joy may overpower
rationality, it is time to let the latter hold dominance. financial well-being is
maintained when you make sound decisions. save your receipts. use them to
verify the statements.

12. 6. OTHER BENEFITS
Besides being a one-stop platform for paying your credit card bills, you also
earn reward points for every Rupee you pay towards your bill. The reward
points are called ‘CRED coins’ and are redeemable on various offerings on
the CRED app. Offer are updated regularly on the app, and you can redeem
your CRED coins (known as ‘burning CRED coins’) across categories.
•You can track your payment history for all cards added on the platform, as
well as keep track of upcoming bills.Features such as ‘Kill the bill’ enable
you to earn cashback towards repaying your bill.
•You will get a reminder each time your card bill is generated, ensuring you
don’t miss/delay a payment..

13. 7. BUILD HEALTHY CREDIT HISTORIES credit scores
are 3-digit numbers floating between 300-900. the closer your
profile skews to 900, the stronger your score and credit profile. if
you meet these criteria, you're eligible for the following benefits:
 you're blessed with increased credibility to acquire home loans, car
loans, education loans, or any other personal loan.
 previous credit history gives you the power to negotiate for lowered
interest rates and higher credit limits when opening new accounts.
 in the unwarranted case of an emergency that
requires a surplus infusion of money, a good credit history improves the
probability of securing instant approvals.

14. Challenges
In india credit card is an unsecured way of taking loans that why only 3% people use it which
will affect cred in long term .
Cred is a 2 year old platform which make it new startup for new things “ trust” and
“relevance” is one of the major challenges of cred.
Cred has raised so much money in short period of time so cred has responsibility to be
profitable so investors can also fill their pockets.
Currently, CRED asks for email access to fetch the details of credit card statements which is
definitely a security concern for some people.
Future plans
 Some of the features that are work in progress are
GROUP BUYING, VIDEO COMMERCE, ETC.
CRED is going to launch their own credit card and akin to Amex's super-premium credit
cards- Platinum & Centurion
CRED will structure their rewards in a way to better align with rich urban millennials (ride-
sharing, digital subscriptions, travel & rent).

15. Bibliography
1. https://iide.co/case-studies/cred-marketing- strategy/
2. https://aryanjalan.com/cred-case-study/
3. https://www.slideshare.net/KshitijGarg10/cred- marketing-strategy
4. https://www.linkedin.com/pulse/cred-vision-
future-edc-uiet?trk=public_profile_article_view
5. https://cred.club/credit-card-bill-payment- online/articles/credit-
card-benefits-advantages- of-using-credit-card