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Assess Underperformance of a New Product

Financial Services Company

What we did
• Reviewed internal attitudinal and product usage data
• Investigated syndicated and competitive data
• Interviewed product management group

What we discovered
• Five distinct attitudinally-driven groups characterized product ownership
• New product’s functionality was not understood by a large group of product owners
• Among those who understood the product, lack of a compelling value proposition precluded use
• Once consumers began to use the product, they quickly embraced it

Strategy
• Provide strategic review of product marketplace and usage parameters

Tactics
• Built landscape of key issues and sources which shed light on these issues
• Identified key barriers to trial
• Built alternate value proposition hypotheses for accelerating product usage
• All findings reported to client in 30 days

Results
• Testing of hypotheses led to advertising campaign addressing trial barriers
• Product now achieving household usage goals

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