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Informative Article | Information Technology | India | Volume 13 Issue 9, September 2024 | Popularity: 4.9 / 10

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Leveraging Qualitative and Quantitative Market Research in Configuring Financial Products: A U.S. Perspective

Vaijinath Susuruth Narayana Saker

Abstract: The U.S. financial services industry is a multi-trillion-dollar market, with products ranging from credit cards to home equity lines of credit (HELOCs), all competing to attract and retain customers. In this dynamic and highly competitive landscape, financial institutions rely heavily on both qualitative and quantitative market research to configure products that meet customer needs, ensure profitability, and comply with regulatory standards. This paper examines five key financial products?credit cards, mortgages, personal loans, auto loans, and HELOCs?and explores how research influences their development and configuration. By using data-driven insights, institutions can make informed decisions about interest rates, fees, approval methods, and customer retention strategies. This approach ensures that financial products remain relevant, competitive, and aligned with market demands, ultimately driving growth and customer loyalty in the U.S. financial services industry.

Keywords: financial products, market research, U.S. financial services, customer retention, datadriven insights

Edition: Volume 13 Issue 9, September 2024

Pages: 427 - 431

DOI: https://www.doi.org/10.21275/SR24907122128

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