Product Development for Leading Global Consumer Brand.

Challenge

Respected leading British brand seeks to explore market for student loans.

Actions

Conduct qualitative research with parents and students planning to enter or currently attending college and/or graduate school

‘Test’ three product concepts with all three segments

Confirm hypotheses via qualitative research using national sample, on-line survey

Develop comprehensive profile of most attractive loan prospects

Based on research findings, isolate most relevant concepts and prepare visual boards for additional qualitative exposure.

Implications

Students find education loans process too complicated and confusing

Opportunity exists for products that are simple and transparent

New ‘product concepts’ were well-received, successfully addressing shortcomings of current market products

Impact

Product concepts in pilot test

Early feedback very positive