Analyzing the Potential of Cards for Affluent Customers in Mexico
Market Assessment Research
Our client, a global leader in the payment industry, identified a gap in its product offering in Mexico and wanted to design a new product for affluent customers who had been previously underserviced.
To do this, the client needed to size the potential market, determine its particular customer characteristics and needs and the product preferences of this target market.
Americas Market Intelligence (AMI) designed a study that included four phases of research: 1) sizing of target market through secondary research; 2) brain storming with target market customers to develop several value proposition options; 3) a survey designed to profile the target market’s needs and characteristics and define the ideal value proposition; and 4) a concept test survey that tests one of the client’s current products versus the developed ideal value proposition card.
AMI’s research and surveying allowed the customer to develop a product designed specifically for affluent customers with the assurance that it would perfectly fit their needs and preferences and thus exploit a profitable market niche.
AMI’s findings provided the client with insight into the needs and preferences of a profitable target customer base and identified the ideal value proposition to best serve them.