Client description: Global insurance company

Practice area: Market Research

Geographic scope: US

Industries involved: Automotive, Financial Services/Insurance

Services applied: Voice of the Customer, Competitive intelligence, Market opportunity studies

Business challenge: Insurance company needed competitive intelligence of the vehicle service contract market in order to develop a new value proposition and a go to market approach that would best fit different product categories and customer types.

Methodologies: 13 qualitative in depth interviews (IDIs) with automotive OEMs, large automotive dealer groups, property and casualty insurance companies, competitors, and third party administrators.

The result: Client received a meticulous report of the vehicle service contract market and the current trends. Included was an evaluation of how customers view company and competitors; overall strengths and weaknesses; and key drivers that cause customers to change in suppliers. Report also provided insights on how competitors go to market and position themselves; their sales approach; selling points emphasized; how they compare and contrast themselves to client; pricing models that are most appealing to customers; and why competitors have achieved advantages in the marketplace. Study led to design of a strategic message and consolidation of key offerings that reinforced the value proposition and strategic positioning.