5.1 page 92
Yes, it’s great to see you again, too. So what can we help you with this time?
Well, we’ve been having some problems with customer loyalty- customers leaving us for other banks, customers applying for credit cards with other companies, customers investing with other banks, that kind of thing.
Right.
So, basically, we need to find out why it’s happening and what we can do to stop it.
Ok. Are there any specific areas you’d like us to focus on?
Yes, several. Firstly, we need to know more about consumer attitudes.
Ok. So, how consumers feel about your company, or….
Not only how they feel about us. We’re interested in their attitudes towards our competitors and towards the financial services industry in general, too.
Ok, not a problem.
We’d also like to find out more about purchasing patterns.
For anything in particular?
Yes. We’re most interested in when and how people decide to change their bank accounts
Ok.
And how they decide where to invest their money - investment funds tax-free savings accounts, that kind of thing.
Fine. Anything else?
Yes – credit cards, too.
Ok, purchasing patterns on credit cards. Would it be useful to have some demographic data, too –you know, what stage of the family life cycle people are at, that kind of thing/
Oh yes, that’d be great.
Ok, that’s fine. … right, of on.
Ok. We need to find out more about expectations.
Can you be more specific?
Yes, of course. We want to identify customer expectations about service levels form banks and about financial products in general. So, what level of service do they expect from their bank? What features do they expect from a bank account or a credit card? That kind of thing.
And who would you like to target-existing customers, former customers, potential new customers?
On the first instance, we’d like you to focus on existing customers and former customers, although we’ve already got internal data on credit card purchasing patterns for those customers I cat let you have that data.
Great. That’s fine.
But we’ll need to get some input from potential customers later in the process. We’re hoping to develop some new product concepts, which will need testing.
Sure. And will you need some product optimization studies done , too?
Yes. Not at this stage, but definitely later. The priority at this stage is to indentify why we’ve bee losing customers.
And what about branding? Given the current situation in the banking industry, I’d recommend you do some research into your brand, too. It could be important.
Actually, yes, it would be useful to have some information regarding attitudes to our brand at this stage. It’ll be interesting to see if the banking crisis has had an effect on our corporate reputation.
Ok. When can you send me a full written brief.
5.2 page 92
Yes that’s really interesting. Right, I’d like to move on if that’s OK, Martin, could you tell me what made you change banks?
Well, I just didn’t trust them with my money any more.
Can you be more specific?
You know, they’re an internet bank, aren’t they? And there was that other internet bank. I don’t remember what country it was in ….. any way, it went bust. One day, the bank didn’t exist any more.
OK. And could you tell me how that made you feel?
Nervous, you know, like my money was]t safe.
Yeah, I know what you mean.
Martin, is it OK to let Priya come in here?
Yeah, fine.
Sorry, Priya, please continue
It’s just that, these banks, all they care about is making money from you. They take all these risks, invest in all these dodgy companies.
Ok. So that’s something a little different from what Martin was saying, isn’t it?
Yeah, but it’s important.
Absolutely, yes. Er, you said that they invest in all these dodgy companies. Can you explain what you mean by dodgy in this context?
Dodgy. You know, not honest, a company you can’t trust.
Right, I see. And could you give me an example?
Well, I read that union direct had invested all this money in some British company that makes trainers – you know, sports shoes and whatnot – in a factory in Asia somewhere. Bangladesh maybe? I don’t know, but anyway apparently there were all these young children working there, six-year-old kids! Well, I think it’s disgusting. I don’t want my money paying for things like that. It’s not right, is it? Some things are more important than making a profit, you know.
Ok. So, how do you feel about your new bank?
Oh, they’re much better. You never see anything in the news…
5.3 page 92
I’d like to move on if that’s ok.
Let’s change direction here.
Thee]s something else I’d like us to talk about.
Can you be more specific?
Can you explain what you mean by dodgy in this context?
Could you give me an example
Could you tell me how that made you feel?
How would you describe your feelings”
Tee me how that felt.
Is it OK to let Priya come in here?
Would anyone else like to comment on that?
Who would like to begin?
Please continue.
Please go on.