Consumer Research – Assessing Online Payment Modes for a reputed private Bank

Consumer Research

Consumer Research - Assessing Online Payment Modes for XXXX Bank - End to End Research

Research Context

XXXX is one of India’s leading banking and financial services groups, offering a wide range of financial services that encompass every sphere of life

The client regularly works towards enhancing customer’s experience  throughout their journey with the bank. The client currently wished to understand customers concerns with respect to the various payment modes that are been used so that corrective action can be taken

MarketGenics was approached to conduct a study amongst Kotak Mahindra Bank’s customers in this regard. 

Key Objective

To understand customer’s  experience with various payment modes for online shopping and assess their view points towards USING or NOT USING payment gateway as preferred mode of payment

Target Audience

Customers of XXXX Bank-

1.Heavy users of Payment Gateway

2.Heavy users of Payment Gateway in addition to UPI,DC and CC

 

Methodology: Telephonic interviews

A total of 30 (15 qualitative calls from both) were done to understand their payment habits and preferences

All the calls were done by MarketGenics researchers

Successful Completion in 7 days

The customers names and numbers were provided to the research team. Our team first called each of them to fix up a convenient time for the interview. As per the scheduled timing, our expert researchers gave a call to each of these customers and asked questions on the basis of a questionnaire prepared by the team. All calls were recorded for an accurate analysis of the responses. The research team’s main objective was to find out how the customers behave for online shopping

A complete analysis as per the calls was made and the findings were presented to the client as per the scheduled date of delivery. 

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