A CASE STUDY
FEATURE EVALUATION THROUGH OPTIMIZATION
For one banking institution, the optimization study became the foundation upon which to build its go-forward product enhancement and pricing strategies for Home Equity Line of Credit (HELOC) offerings. The challenge — current offerings were under-performing versus key competitors in the HELOC category and the bank sought to grow its market share.
What are the optimal HELOC product configurations and pricing across different consumer groups that will maximize the bank’s opportunity to increase market share while minimizing the cost to produce?
An optimization study with a focus on consumer behavior and decision making.
Discrete Choice Modeling
The bank came out in a much stronger position to grow its’ HELOC market share because the research study had:
Sized the opportunity to grow their HELOC business
Identified the highest priority marketing targets
Identified necessary changes in its product feature mix and pricing strategy
Pointed to the benefits which needed stronger emphasis in marketing communications
Want to learn more about this type of work?