Capital One
Listening to customers
The challenge
On-going research identified that consumers were becoming ever more concerned about the security of their financial details and the risk of their details being used fraudulently. They were increasingly looking to financial institutions to provide measures to prevent fraud, protect financial details and to provide support in the event of financial details being lost or misused.
The market research department's role is to understand the views and opinions of consumers. The team uses a variety of different way to collect these views and opinions using everything from large questionnaires through to focus groups.
Capital One invited consumers to workshops specifically to understand about how important safety and security issues were to them, and to gather more information. The research department then evaluated the findings on a variety of topics which they had learned from the focus groups.
What's the difference between Qualitative and Quantitative Research?
These are two research methods:
- Qualitative research find out about people’s opinions, knowledge and attitudes
- Quantitative research finds out information that can be measured or expressed as an amount or number.
What do you think?
Which method do you think was used to gather the information shown below?
New research* from Capital One reveals that over 42 million adults** in the UK don’t know how to discover if they have been a victim of ID theft, while only one in ten knows exactly what to do if they suspect their ID has been stolen. Encouragingly, almost everyone surveyed (99%) was aware of the problem of ID theft. Nearly 25 million (41%) were worried it would happen to them.
*Research conducted by YouGov of a representative sample of 2331 GB adults between 31st May and 4th June 2007.
**Based on population statistics from ONS and census data