This paper reports the advertising strategies developed by Foote, Cone & Belding, based on the Group Attitude Profile Study done by our client, the First National Bank of Chicago. In 1971-72, the Bank undertook one of the most extensive consumer attitude and segmentation studies ever done by a retail banking institution in America. The GAP Study (Group Attitude Profile Study) utilized demographics, lifestyle profiles, and psychological paradigms to gather data from one thousand consumers in the Chicago area on both independent and dependent variables. Fifteen factors emerged.
Belgium's leading bank, the Societe Generale de Banque, operates on the international market, the corporate market (businesses large and small) and the private customer market. In 1974 a market survey showed that on the private customer market, the bank was particularly strong in the area of current accounts (13.7% share of the market) but in a weaker position as regards savings accounts (4.5% share of the market). The marketing department received a proposal from the Bank's technical services to launch a savings account, not in the traditional form of a savings "book" but in that of a genuine account in computerised form and for which the customer would be issued with statements. We were thus faced with the problem of marketing this technical innovation in the best possible way. Our market research was thus directed at determining the best way of launching the new product on the market.
This paper concerns the data which are available for Financial Services through the Target Group Index. Following a brief introduction - which covers the size and scope of the TGI - it illustrates the types of data which are available in the report, some trend data and data on media selection. Because the TGI covers many product fields other than financial services, it is possible to cross analyse savings or credit with activity in other areas. Some examples of the use of the data in this way are also shown. Finally, the advantages - and disadvantages - of the TGI are discussed and compared with the type of syndicated surveys which are more usually considered in specialised fields.
In 1973 at Amro Bank started a program specifically aimed at our own customers informing them that like in a supermarket, we are delivering different (financial) services. They were invited to make use of several more services: a savings account next to a current account, a furniture insurance next to a mortgage, foreign currency next to a planned vacation, etc. It goes without saying that a vital part in the cross- selling was played by the personnel in the branch offices. They knew the client, his circumstances, his actual services, his needs; thus, they were more capable in advising customers of possible additionally desired services suited to their particular needs. However, in order to be successful we had to use other techniques as well. For, time is money, and it would have been too costly & time consuming by giving full liberty to our personnel in order to advise our clients individually. There were more than 3 million interesting private clients; consequently, we decided to use mass media on a individually-directed basis. Next to that there were another 12 million potential private customers in Holland who needed financial advice.
The aim of this paper is to sketch the structure of an insurance broking business required to work alongside a banking set-up and to be the specialist service of the bank manager in his endeavours to introduce customers to insurance. How to be profitable by sound growth, how to key-in with the structure of the bank and how to be, to a degree, selective, these are matters covered in this address. Control of the insurance broking company and of its growth are also dealt with as issues of considerable importance. The aim is to ensure that the whole operation is efficient, expert and ethical.
The purpose of this article is to outline the preliminary work we in IBRO have been doing on psychographic segmentation. I will, firstly, say something briefly about the background and basis of the work done, I will then indicate the discriminating power of the psychographic groups evolved and then discuss the extent to which psychographics can illuminate behaviour, i.e. whether they could be useful in segmenting the market or whether they are likely to be more valuable in aiding the promotion of financial services.