selected business article 11/6

Selected Business Article

Millennials Are Saying No to

Credit Cards

http://money.cnn.com/2014/09/08/pf/millennials-credit-cards/

Jessica Harrington Professor Klinkowstein

Summary

• 6 out of 10 don’t own a credit card.


Summary

• Bad economy and fearing debt.


Summary

• Good credit score is essential.


Setting / Activity for Ethnographic Observation

Millennials buying things at book store with credit or debit card.


Ethnographic Research, Millennials Using a Credit or Debit Card


Ethnographic Research Observations


• All but one of the students observed used debit cards or cash to purchase items.



• Students observed did not make big purchases, only small items from bookstore.



• One man who bought a grey hoodie did not respond to the cashier when she said hi to and asked him about his day.



• Students didn’t seem to spend more than $30.



• Male students seemed more anxious about talk to the cashier than women. (Talked quickly, less eye contact)

Ethnographic Research Findings


• Students don’t need bank credit cards because they’re not purchasing expensive things. A store credit card would possibly attract people.

Ethnographic Reading Summary


• The goal for IDEO in this article was to redesign the checkpoints in airport security.

Ethnographic Research-Who are the Users



• Prototypes were made, including a training curriculum for TSOs that focus more on understanding people and behaviors.




• Ethnographic research is valuable in understanding what users want, not just a general idea.




• IDEO designed a calmer environment by focusing more on explosives and people with hostile intent.

IDEO TSA Project



• The physical space of airports was analyzed and redesigned to reduce stress of travelers.

IDEO TSA Project



• TSA is using a human-centered approach to increase security by getting rid of other chaos.

IDEO TSA Project



• IDEO research is observation-based, human-centered methods to understand hidden truths, needs, wants.

Ethnographic Research IDEO



• Analogous cases help inspire innovative approaches for redesigns. Such as a hospital emergency room and a NASCAR pit crew.




• Meaningful benefits are provided for the consumer and the business. Innovating ideas that will last are ones that are willing to change with needs.


Proposal for an Innovative Business


• Using a smartphone app or online system users can pre-set a spending allowance and what types of purchases one wants to allow through categories linked to the card.



• The app allows one to share their success with friends and compete with other users for having a better credit score.



• Applications include allowing users in their early to mid-twenties to obtain a better credit score allowing them to buy a house or car, and allowing users 17-20 years old to practice good credit card use.

Tagline Research


• L’OREAL Because you’re worth it.

• Subway eat fresh.

• Verizon We can hear you now.

New Tagline


• Your Budget Needs It.

Raw Background Images


Blurred Background Images


Image and Tagline Study


Infographic Elements


• Smartphone

• App

• Credit Card

• Pre-set categories

• Safe Spending

• Good Credit

Infographic Sketches


Final Infographic Sketch


selected business article 11/6

Design

credit cardshttp

store credit card

bank credit cards

debit cards

understanding people

small items

book store

expensive things