Product Development And Volumetric Projection.
Our client wished to launch a new credit card product.
A combination of product features and a communicable proposition had to be found that would capture significant market share.
To do this, we delivered a model which enabled alternative combinations of product components and assumptions about variables like market awareness to be input, in order to project take-up volumes and revenues amongst key market segments (which could then be considered against costs of supply).
Initial qualitative work helped explore card choice and gauged how much complexity customers could effectively take in.
With quantitative research, we then derived relative utility values for different product features - this took two separate conjoint exercises, as not all factors sat comfortably together in one trade-off model.
The integrated results were then calibrated to the market, using published data on card take-up volumes. (Our forecast was within 10% of the volumes actually achieved).