Market / Image
Awareness & Competitor Research (MA&CR)
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BROCHURE (PDF, 315 KB)
Bancography's Market
Awareness and Competitor Research provides the fundamental information
needed to compete in today's financial market. When developing a retail or business
strategy for a market, senior management must be knowledgeable and comfortable
with the local residents' financial behavior and the competitive landscape. If
the bank is already present in the market under examination, management must
understand its strengths, weaknesses, opportunities and threats in this particular
market as well as those of its competitors. These findings can be utilized to
develop strategies for building market share and optimizing the service mix in
each market. The results from this type of comprehensive study are relevant for
up to two years, depending on the change in the market's economic and competitive
composition. The MA&CR methodology is adaptable to all lines of business (retail,
small business, commercial,
and wealth).
In order to conduct a comprehensive market analysis, the following attributes
must be measured of the bank and the
competition for each market:
- Primary
household share and brand awareness
- Strengths
and weaknesses
- Service
quality
- Problem
occurrence and resolution
- Loyalty (likelihood to continue to use and to recommend your
institution)
- Propensity
for investment needs
- Demographics
Methods:
- Masked
survey sponsorship
- 300
random digit dial interviews in the market
- 100
customer interviews in the same market
(allows bank to understand how its clients view the bank and the entire market)
For
more information on Market Awareness and Competitor
Research, download
Bancology Volume 3 or contact us at (205) 251-6227 or research@bancography.com.
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