Chase Repositions

NEW YORK J.P. Morgan Chase will attempt to reposition itself as a more “customer-friendly” destination in an ad campaign breaking next week.

The effort, from mcgarrybowen, New York, unveils a new tagline: “Chase what matters.” It follows extensive research in which customers were asked what they want from a bank. Chase said the work marks a first for the bank in terms of the campaign’s scope.

The ad spend will be $70 million for the first quarter alone, the client said.

“We’re launching it across all lines of business at Chase, working in partnership with our retail side so all branches and all Chase-branded products will be under this campaign,” said Sangeeta Prasad, Chase svp, brand advertising. “It’s the first time we’ve ever done that.”

The campaign breaks Sunday with print in local newspapers. TV launches Monday with spots scheduled for NBC’s Today show and ABC’s Good Morning America, as well as on the Food Network, HGTV and the History Channel. The spots feature black-and-white images accented by Chase blue.

Support includes online ads on sites such as Yahoo! and MSN, as well as outdoor iterations. Chase will also run an eight-page spread in the March issue of Oprah, Prasad said. Print ads will run in other national magazines during the year.

Asked the total budget, Prasad declined to be specific but called it “significant.” J.P. Morgan Chase spent $340 million on domestic ads in 2006 and $265 million from January-October 2007, per Nielsen Monitor-Plus.