Helping a major bank to develop a new, differentiated mortgage product in a mature market

Challenge

Without competing on price, a major online bank sought to increase its market share in the highly competitive and lucrative mortgage market.

Solution

To identify an opportunity in the Canadian mortgage market, The Strategic Counsel developed a comprehensive market research program – an internal review of prior research, full-day innovation sessions with new and experienced mortgage customers, in-depth interviews with real estate agents, focus groups and an online survey.

Outcome

Our research identified key segments for the client to target, outlined the level of service that needed to be provided, and provided a framework for a new mortgage product.