Caso Wachovia: "Watch Ovah Ya" Finaces.

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Depth interviews with consumers are not as likely to be useful as focus groups. They are very expensive, require expert interviewers, and are limited in external validity. Depth interviews with industry experts on the opportunities for growth in consumer banking are more appropriate. These experts could offer insights on variables to consider, hypotheses to test, and the banking industry’s competitive tactics.

Chapter 6

1. The following criteria for selecting survey methods (the ones checked) are most important in this case.

Use of Physical Stimuli

Quantity of Data _

Obtaining Sensitive Information _ X

Speed

Diversity of Questions X

Sample Control X ____

Response Rate X

Cost __________

Flexibility of Data Collection X

Control of Field Force __________

Social Desirability X

Potential for Interviewer Bias

Control of Data Collection Environment

Perceived Anonymity of Respondent X

This survey will need to collect a variety of information as specified in the marketing research problem. The interview will need to have some flexibility in data collection since some respondents may not be very comfortable with financial terminology. Sample control is important to ensure that we gather data from a representative cross-section of consumers. Financial information is perceived to be sensitive. Social desirability and perceived anonymity may also be salient. Finally, as in all surveys, we would like the data collection to be as quick and inexpensive as possible.

For these reasons telephone interviewing (CATI) is recommended. CATI allows us to collect the data in a flexible way by asking many questions because we are in direct contact with the respondent. The response rate tends to be good and the speed moderate. CATI offers adequate sample control. Finally, CATI is better than personal interviewing (In-home, mall intercept, or CAPI) in terms of sensitive information, social desirability, and perceived anonymity. The questionnaire will be too complex to be self-administered by the respondents eliminating the use of mail, mail panel, email and Internet interviewing.

Chapter 7

1. Causal research is needed to assess consumer response to alternative product offerings. The best research design in this case is the pretest-posttest control group design. This design allows us to most precisely measure consumer response to alternative product offerings. It can be conducted in a laboratory by first randomly assigning respondents to one of two (several) groups. One (several) test group(s) will be given one version of the product; the other will serve as the control group and will not receive any products. A pre-test of attitudes toward Wachovia and preferences for Wachovia products in general can be given to all the experimental and control groups. Then the selected version of the product is shown to the appropriate groups. Afterward, a second test of attitudes toward Wachovia, Wachovia products in general, and the specific product shown can be given to the groups and conclusions drawn.

The pretest-posttest control group design suffers from the interactive testing effect because we must test the experimental group before showing them the product. As such, we may inadvertently bias their responses. In this case, the initial questionnaire should be devised so that it gives little indication of the purpose of the study.

If a pre-experimental design is to be used, the static group design is most appropriate because it allows us to use a control group in experimentation. Control groups enable us to measure the effect of Wachovia’s image because we can compare results of the experimental group against the control group. The static group design could be conducted by assigning respondents to either the control or experimental groups. The problem with the static group design is that we do not randomize respondents so that the design suffers from the possibility of selection bias. Mortality can be a problem because some respondents may refuse to continue in the experiment. However, in this case, because the experiment is quickly completed it should not be a serious threat to validity. Although maturation can affect some static group designs, it should not be a problem in this case because the experiment is completed very quickly.

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Chapter 8

- Paired Comparison

Please indicate which bank in each pair you prefer for banking.

Pair Preferred Bank

1. Wachovia versus bank of America ____________

2. Bank of New York versus Citibank ____________

3. JP Morgan Chase versus SunTrust ____________

n. Wachovia versus Citibank ____________

- Constant Sum

INSTRUCTIONS

Below are five banks. Please allocate 100 points among the banks so that your allocation reflects the relative importance you attach to each bank. The more points a bank receives, the more important the bank is. If a bank is not at all important, assign it zero points. If a bank is twice as important as some other bank, it should receive twice as many points.

FORM

1. Wachovia ______

2. Bank of America ______

3. Bank of New York ______

4. Citibank ______

5. JP Morgan Chase ______

SUM __100_

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