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.
Client Example
Qualitative research for one of the largest life offices in the UK
The client wanted to develop and launch an all-in-one mortgage to UK consumers.
The project required exploratory research in order to:
- Understand customer perceptions and their understanding of “offsetting”
- 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 FAs to understand the purchasing process. We employed projective techniques to investigate understanding of the product and to determine the impact of the branding, the communications strategy and the product name on the desirability of and attitudes to the product.
The research was used by the client to further develop the offering and inform marketing strategy.
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