Abstract
Though many in the industry might assume that the most prominent financial services brands are sufficiently meeting the needs of today' s consumer, a large proportion of customers are unhappy with the existing array of financial services. Surprisingly, very few existing brands come close to meeting the potential that surveyed consumers see for each category of financial services firm. In banking, brokerage services, insurance, mutual funds, and mortgage services, opportunities exist for each of the major financial services brands to follow the service improvement guidelines established in this report to help their brand more fully meet consumer expectations for the category. The following issues are addressed:
- How does familiarity and experience impact perceptions of financial services firms?
- What are perceptions of individual representative firms versus perceptions of financial services categories overall?
- Which individual firms are differentiating themselves well in each category?
- How do these perceptions relate to levels of consumer satisfaction with providers?
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