ABC Bank is planning to introduce a new credit card in a competitive and rapidly expanding financial market. To ensure a successful launch, an extensive analysis will be performed on a dataset containing over 50,000 records, simulating real-world customer behavior and market conditions.
As a new entrant in the credit card sector, ABC Bank faces intense competition from established players. To design and launch a credit card product that meets market demands and minimizes the risk of failure, the bank must carefully assess multiple factors influencing customer preferences and credit usage patterns.
What factors should be considered when launching a new credit card? Examples include:
- Target age groups
- Employment types and professions
- Income ranges
- Preferred payment methods across demographics
- Competitive landscape and market positioning
A thorough analysis of these variables will help identify the most promising customer segments and product features for the new credit card.
Anonymized transactional and behavioral data may be sourced from financial analytics providers such as Bloomberg Terminal or Second Measure to replicate realistic market conditions.
- Determine whether the card should focus on specific customer groups (e.g., students, mid-career professionals, or retirees).
- Segment potential users by demographic or occupational criteria.
- Conduct a small-scale trial run based on Phase 1 insights.
- Apply statistical techniques (e.g., hypothesis testing) to evaluate the effectiveness of initial assumptions and market segmentation choices.
Data files are not included.