Need Gap Assessment for Credit Card Launch

Business Context

MNC Banks have faced significant hurdles in launching and popularizing new products. Decrypt was approached by a large MNC bank to launch a new credit card curated for their B2B (corporate & SME) customers. The task was to understand the TG deeply and then identify specific need gaps which could be addressed by the card

Research Approach

We identified that a mix of qualitative and quantitative interviews would be best to understand the behaviour, usages and attributes of the audience and their needs. We administered a usages and behaviour module to identify the response of the audience to potential benefits and features of the card without any stimulus. This was followed by a forced stimulus exposure in a sequential monadic blind concept format. This involved presenting multiple features sequentially, one at a time with questions to understand their preference or affinity to the concept.

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Deliverables & Client Benefit

Decrypt’s deep-dive helped unlock the reasons behind availing credit card, their preferred features as well as pain points they faced. Through this we presented an actionable strategy to lock the potential ideal consumer segment, the need gaps to be addressed and the most relevant features for this segment.

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