French Financial Service Company

Stage 1 Consumer Insights

Stage 2 Strategy Formation

Background

Department of one of France's largest conglomerates, this client asked CMR to help identify 1) consumer groups it should target to grow its credit card and orther financial service offerings in China, and 2) key competitors, and how it should position itself relative to them.

Stage 1 Consumer Insights

For Stage 1 of the project, CMR interviewed 150 of our client's potential customers within a wide age range and across gender and socio-economic levels to gain key insights into consumer preferences and borrowing behavior such as why, when and how the different consumer group choose to borrow, and how their use of financial service can be expected to change as they get older, as well as valuable insights into their perceptions of strengths and weaknesses of the competitors. 

Stage 2 Strategy Formation

In Stage 2 of the project, CMR used data from interviews to identify consumer groups that would yield the highest ROI for our client. We then analyzed the groups' borrowing needs, motivations and sophistication in order to create an actionable strategy by which our client could target this group. CMR also leveraged information on competitors to provide our client with the information and actions necessary to position itself more effectively in the Chinese market.