Product Development

Informing the Successful Launch of a New Banking Service

Business Goals

Help a regional bank optimize both the configuration and positioning of a new premier service offering.

Approach

Two-phased research program among Mass Affluent clients and prospects:

Phase I: Quantitative research, employing MaxDiff trade-off analysis, to determine the relative importance of potential program features.

Phase II: Focus groups to test program concepts informed by the quantitative research and gain insights into targeting and messaging strategies.

Impact

The research enabled our client to identify target audiences, prioritize program features and benefits, and confidently promote this new offering to the marketplace.