In this quantitative study Market in View used a combination of financial attributes to identify credit challenged customers who are not likely to qualify for the standard financing program being offered for device purchase. Ideal participants were surveyed and three concept payment scenarios were presented. Profiles of customers interested in each alternative were developed and the financial understanding and purchase intent of each concept was analyzed. The most preferred financial option was determined.
|completion date:||August 2014|
|the approach:||Through a national panel, the target participant for this study was determined using an algorithm considering several pieces of information including credit score, household income, and number of credit cards used. Three payment options were analyzed and Market in View was able to measure the impact of each financial offering on consumer attitudes and behaviors, including the percentage of customers willing to switch providers for a specific financial program.|
|the results:||Market in View identified the credit challenged population and their preferred financing option. By determining the offering that would serve the majority of those customers unable to pass the required credit check needed for standard financing arrangements, the client will be able to successfully attract and provide financing for this segment of the market.|