Strategic Analysis Group

Product Improvement Case Study

Situation

A major, international bank wanted to increase their small business banking revenues and customer satisfaction worldwide by improving their products. They wanted to determine how to go about doing this while maintaining standard products across boarders.

Methodology

•	Benchmark competitor products in appropriate geographic regions

•	Determine success of each product in each region through revenues, profitability or qualitative source (newspaper)

•	Survey & interview customers / potential customers in each region to determine product preferences

•	Purchase existing customer research

•	Survey & interview local and country & international managers and salespeople to determine how they would change products

•	Determine future revenue streams of improved / new products

•	Build a quantitative model to predict the success of the product through P&L & NPV projections

Results

• Banking products were improved to better satisfy needs of customers worldwide
• Small business banking revenues increased due to product improvement
• Small business customer satisfaction increased