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Proposal for Assessing

Market Likeability of
Development Fixed
Deposit
Prepared By: Consumer
Insights, R&D Division of
BRAC Bank
1. Objective of the research:

Assess the following:

o Awareness of BBL products and usage of banking channels


o Likeability of the proposed product features and suggested changes
o Future intention and willingness to avail
o Willingness and interest to avail a progressive banking product

2.0 Information probe:

2.1 Awareness of BBL products and usage of banking channel:

Top of the mind awareness of Banks in terms of FDR


Availing FDR with minimum 1 year tenure from different FIs except BBL
FI name, Principal amount, Tenor and Interest rate
Reasons for availing bank FDR/other Fixed Deposit (long term in nature)

2.2 Likeability of the proposed product features and suggested changes

Like ability and suggested change regarding Product features like starting principal amount, tenor, interest
rate, VAT & Tax rebate, value proposition/addition, benefits in the longer term
Like ability and suggested change regarding sectors to be financed and way of reporting to customers

2.3 Future intentions:


Intention to avail (if features remain unchanged vis--vis features tuned as per expectations) using insist
prefer scale
2.4 Willingness and Interest to avail a progressive banking product
Clients perspective on what he/she wants in return for providing funds (other than low interest rate).
Long term prospects: does the lender somehow want to be a part of the project, and if possible, is the lender
willing to receive returns in other modes (dividends). Also, is the lender interested in receiving profit rather
than interest rate (conditional to the business making a profit in a certain number of years), i.e. providing a
progressive banking product/package to the lender.

2.5 Demographic information


Age
Gender
Educational background
Marital Status
Socio economic status
3.0 Target group definition:
We will cover two (2) groups for conducting the interview
1. Retail Customers
2. SME
High net worth Retail customers are defined as customers who have spendable income even after their regular
savings. In addition, customer must have an excellent payment history (if applicable), not reaching 30 DPD during the
entire tenure of the loan. It can be assumed that Premium customers meet this criterion
In case of SME we will conduct interview with those customers whose composite loan facility is 1.0 crore and above
(additional: has an FD of min. 20 lacs). In addition, customer must have an excellent payment history, not reaching 30
DPD during the entire tenure of the loan.
We will not cover corporate customers since it is difficult to manage their time for interview which will impact the
product deadline.
4.0 Research Methodology:

o Nature of the study: Dip stick


o Interviewing technique: Telephonic/physical interview
o Sampling method: Non random convenience sampling
o Sample Size : 30 retail and 30 SME over telephone, and, 15 retail and 15 SME physical
o Database: minimum 300 Retail and 300 SME client

5.0 Resource and support requirement:

5.1 Resource Requirement: Data Collection agency will be recruited. Agency will employ 3 females who will work in
BBL premises. R&D will take part in the recruitment process. R&D will monitor them

5.2 Support required from Business: Detailed database of customer including the following fields:

For Retail customers For SME


CIF wise A/C details like CIF wise A/C details like
- A/C no, A/C name and contact no - A/C no, A/C name and contact no
- Last six months avg. balance - Composite loan facility
- Deposit product related details like Scheme type, - Deposit product related details like Scheme type,
availing date, maturity date, interest rate, principal availing date, maturity date, interest rate, principal
amount and maturity amount amount and maturity amount
- Loan Details like tenor, amount, type and interest rate, - Loan Details like tenor, amount, type and interest
DPD rate, DPD

6.0 Limitation of the study:

Time and budget constraints forced to select dipstick method.


Due to selecting Non random convenience sampling findings cannot be generalized to the population.

7.0 Timeline:

Note:
1. Total 21 working days required.
2. Time calculation will start after receiving the dump from the respective business division

8.0 Budget Requirement and Cost Center

8.1 Required Budget

No of Data Per day payment Required no. Total Cost VAT Grand Total
Collector, A without VAT, B of days, C without VAT, Amount, including VAT
D= (A*B*C) E=
(D*15%)
3 900 6 16,200 2430 18,630

8.2 Cost Center: R&D