Test and Price Position New Service Propositions
Investigate the requirements for a new range of proposed services for business partners and determine fee levels....
Investigate the requirements for a new range of proposed services for business partners and determine fee levels.
Business Challenge
Business partners provide a potential source of funds that could be developed and this required to be tested. Establish packages that appeal to business partners together with package contents, propensity to consider, barriers to consideration and price positioning. Identify the appeal of the institution and the proposed packages to non business partners.
Solution
30 qualitative depth telephone interviews with business partners followed by 220 online interviews of 20 minutes duration with business partners plus 200 CATI interview with non business partners.
Results
From a vast range of possible services a range of packages were identified that appealed to different business partner types and different functions within business partners. The packages formed the basis of a new range of partner services together with the marketing strategy initiatives to introduce them to the market.