Financial Sector Research
New product development
Developing new products and services or entering new markets without an understanding of all the issues can be full of risk. We provide our clients with the market intelligence to understand the potential for new products. This knowledge enables new business opportunities to be fully exploited.
Case Study Product development
Qualitative research for one of the largest life offices in the UK
Post A-day wished to tap into the appetite for different retirement solutions and to develop and launch a new annuity option.
The project required exploratory research in order to:
- Understand customer perceptions and their understanding of annuities
- Evaluate the potential success of the product
- Identify any barriers to uptake
- Refine the product features to match the needs of the target market
Group discussions and in-depth interviews were conducted with consumers and IFAs to understand the key decision making processes behind retirement income planning. We employed projective techniques to investigate understanding of the product and to determine the impact of consumer attitudes to risk, the communications strategy and product name on the potential take-up of the product.
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