Capital One
Listening to customers
What happened?
The research team turned their attention to finding out everything they needed to know in preparation for launching a new product (Concept Development research).
- Stage one was qualitative work. The team at Capital One wanted to find answers to these questions:
- How aware were consumers about security issues?
- Did they understand what would be the consequences if their identity was stolen?
- Just how concerned were they?
- What would customers want from a new product to make them feel more secure?
- How much would they be prepared to pay for such a product or service?
- How would they want to access the product or service?
- Stage two was quantitative work to find out exactly how many people responded to each of the questions.
Once the team had gathered the results from this part of their research they carried out 'Customer Value Proposition research' amongst both existing customers and non customers. This was to find out what product features would be the most motivating, unique and of value to the consumer.
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