|
|
 |
|
Viewing report
|
|
|
|
Customer Centric Product Design in Financial Services
Datamonitor, June 2011, Pages: 66
Introduction
Customer centric product design is the key to sustained competitive advantage in the financial services (FS) industry. This report examines global best-in-class examples of product ideation. By identifying customer priorities through Datamonitor’s financial services consumer insight (FSCI) research this analysis identifies strategies for success in this increasingly challenging environment
Features and benefits
- Understand the importance of identifying consumer needs and create a successful customer centric product offering
- Access a comprehensive global analysis of successes in the FS industry to drive ideation and inspiration.
- Harness primary consumer insight to understand the consumer attitudes and needs that drive innovation success
- Minimise costly mistakes through ensuring product designs meet core consumer needs
Highlights
Customers no longer believe that the FS industry has their best interests at heart. a provider will have their best interests at heart. The value proposition and product benefits need to be increasingly obvious to sceptical consumers and watchful regulators.
Consumers fear what they do not understand and FS providers must be careful to balance product innovation with complexity. Consumers are more likely to choose a product they understand rather than an innovative solution which they struggle to comprehend.
Consumers want to be treated as individuals and they want their personal needs to be reflected in their FS products. The “You Choose” product from Yorkshire Building Society gives consumers the opportunity to choose insurance which meets their individual requirements, without being weighed down by cover they do not need.
Your key questions answered
- How can a customer centric product offering offer competitive advantage and boost profits?
- What consumer trends can FS providers harnessin order to achieve success in product development?
- What global FS providers are at the forefront of product innovation?
- What factors limit the success of new product innovations?
|
|
|
|
