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Understanding the Financial Services Consumer
In July 2006 the Financial Conduct Authority (FCA) published their ‘Treating Customers Fairly’ (TCF) initiative. The impact of these changes is such that financial organisations need to ensure that:
- Consumers are provided with clear information and kept appropriately informed before, during and after the point of sale (Outcome 3 )
- Products and services marketed and sold in the retail market are designed to meet the needs of identified consumer groups and are targeted accordingly (Outcome 2).
Here at Future Thinking we assist a wide range of clients to assess their FS products to establish whether they meet FCA guidelines in terms of:
- Whether there genuinely is a gap in the market for their new product launch
- How well customers (and prospective customers) understand the product
- How easy marcomms and other information provided are to understand (and whether they are correctly understood!)
We provide a range of robust primary consumer research to demonstrate compliance, to increase understanding of the target market (pre and post launch) and to aid development of marcomms (pre and post launch). Working alongside clients we research customers and non-customers, as well as gathering opinions from colleagues and professionals (e.g. IFAs and DAMs), to deliver clear commercial recommendations which you can trust.
Click here to download your complimentary guide to understanding key areas of research which are increasingly important to the Financial Services market; from brand tracking and marcomms evaluation to new product innovation and sales forecasting.
For more information and to ensure your company treats customers fairly and meets FCA guidelines, please email/call Annabelle Truscott on 020 7843 9777