With the goal of improving their competitive presence in the market, a financial services provider was interested in understanding and identifying distinctive strengths/weaknesses of all major providers.
To capture a clear representation of market issues from consumers’ perspectives, an extensive list of issues was compiled from in-depth qualitative discussions and incorporated into a quantitative survey, and administered to over 1500 consumers. A series of analyses served to detect distinct areas of strength and weakness relative to the competition, not only overall but among unique consumer groups.
An ongoing tracking program allows the client to continually assess changes in the competitive landscape, and identify new strategies to improve their overall brand performance.
The initial insights from this program allowed the client to make changes to the way they provide some of their services and to adjust their marketing efforts to fit the needs of consumers. The tracking program has allowed them to monitor the competitive presence, assess the impact of changes and make continuous improvements over time.