Concept Test for a Payment Gateway Provider:: Qualitative In-Depth Interviews
A popular payment gateway is currently putting together a new offering targeted at SME merchants in India. Five marketing concepts were formulated and the client wanted to see as per the opinions of SME merchants, which concept should be developed further for launch. MarketGenics was involved in this project for three stages: Recruitment, moderation, and transcription.
Objective was to identify the most compelling concept – the concept that shows most promise – for the payment gateway’s Integrated Financial Solution. The goals are:
- A Evaluate the relative appeal of each concept on attributes like:
- Understand the Emotional ladders / payoffs for each concept
- Understand what can be done to make each concept stronger (ex: a different articulation of the benefit, features)
Target Audience Defintion
- E-com Sellers
- Age: Less than 40 Years
- Segment: SMBs with Annual Turnover INR 2-150 Cr, focus being on 2 segments –
1)Owners/ Founder-owners of Businesses that are NOT structured or MINIMALLY structured.
2)CFOs of Businesses that are completely or largely structured.
- Presence: Across more than one e-marketplace – e.g. Amazon + Flipkart + Myntra
- Key Industries: Multiple categories such as Electronics, Industrial Equipment, Apparel, Home Décor, to name few
Research Methodology: Qualitative In-Depth Interviews
Our modality was qualitative. In-depth direct interviews were conducted through online medium via Skype and Zoom. All Interviews were recorded with informed consent
Total 24 Interviews
Split across Delhi NCR, Mumbai, Bangalore, Chennai
Our Success Story
MarketGenics was given three weeks time to complete project.
Week 1 – Commissioning, Discussion guide, Recruitment
Week 2 – Fieldwork
Week 3 – Reporting
The challenge here was to get the right team of e-com sellers on board to be a part of the direct interview. But, once they were on board, it was a cakewalk to run the interview process. Our respondents who are SME entrepreneurs put forward valuable inputs for the new concept, which were finally been transcribed and reported to the client.
It was heartwarming to get a wonderful review by the client on the successful completion of the project.