Market Segmentation And International Competitor Benchmarking

CLIENT:
Major Bank

SECTORS:
Financial Services

LINES OF BUSINESS:
Strategy & Leadership, Performance Analytics, Innovation & Transformation,

CLIENT FOOTPRINT:
South Africa, Southern Africa, Africa, International

THE CLIENT CHALLENGE:

A major bank wished to perform a market segmentation analysis and create a pragmatic growth strategy. This included bench marking its products and services against south African and international best practice. Combined with establishing a product portfolio strategy through detailed understanding of product lifecycle stage and profitability

HOW WE ASSISTED:

We conducted a comprehensive market and competitor analysis, locally and in each BRIC country to identify product and service, innovation together with unmet customer needs. Detailed product profitability was conducted which identified a propensity to push loss making products. Comprehensive product lifecycle analysis was conducted and a product portfolio and migration approach recommended

RESULTS DELIVERED:

The resultant growth strategy and detailed product design included new products, product rationalization and channel innovation. The strategy and supporting business plan was approved by the Board and became a major cost reduction driver, whilst positioning the client to deliver a leading product set, supported by digitized processes that provided a differentiated customer experience