How marketing research contributed in Sr-bank's creation of a USP (Unique Selling Package) towards the youth segment (18-30 years of age)

Author: Geir Sandgren

Abstract:

The paper concentrates on how marketing research techniques have been guidelines in the process of developing pioneering bank-marketing strategies directed to the segment 18-30 years of age. Although the communication aspect is emphasised in the paper, it also deals with the influence that research findings have had on market segmentation and on development of new products and service concepts. Due to the art of limitations, focus is on the preliminary steps taken in SR-BANK's strategic approach to the segment in question. The paper shows how findings from non structured, non disguised interviews made with groups led to a simple model of segmenting the market and to the identification of critical points, phases and moments regarding young persons selection of a bank. And further how the findings also affected the development of new products and service concepts as well as the creation of untraditional promotion activities.

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