Business Case 1: Convince your clients to use the home banking app (max 750 words)
The bank you work for has developed a home banking app that allow clients to make bank operations via their smartphones – check their bank accounts, transfer money, pay the bills, make investments, ask for credit cards, and so forth.
Despite the clear advantages offered by the app, most clients are reluctant to using the app and still prefer performing even the most basic operations at the branch or at the ATM.
Branch representatives have therefore used several rational arguments to convince their clients to switch to the digital app – e.g., the app has several functions, it allows you to make operations faster, it is very easy to use, it is very secure and GDPR compliant.
However, despite the rationality of these arguments, the number of clients downloading and using the app is still very low. You have therefore been tasked by the bank to propose a communication strategy to improve the figures of clients willing to switch to the digital app.
Based on Neuro-marketing tools, propose a communication strategy that will help convincing most clients to download and use the app.
More precisely, propose a few arguments you could use to convince the clients to switch to the digital app and explain why you think these arguments would be more effective than the rational arguments offered by the branch representatives.
Business Case 2: Propose a pricing strategy for a new wine (Max 750 words)
A chain of wine shops wants to start selling a new type of 0% alcohol red wine.
This is really something new: while the shop sells many different types of wine (i.e., from different countries, biological wines, biodynamic wines, natural wines, …), this is the first time they sell such a product. Yet, the company is convinced that 0% alcohol wines is an emerging and growing business, and they want to be among the first sellers proposing this type of wine.
This type 0% alcohol wine should be marketed as a medium-high replacement for those individuals who are willing to enjoy a good bottle of wine but who do not want or cannot drink alcohol (typical spending between £15 and £30 per bottle).
You have been tasked by the company to design a pricing strategy for this product. More precisely, they asked you to address the following questions:
* Describe how you are going to identify the optimal price (per bottle) of the 0% alcohol wine*. In other words, explain how you are going to measure what is the customers’ willingness-to-pay for this product. Explain the rationale behind your choice.
*Consider that for the shop, the cost per bottle is £7 (this includes production costs, the transportation costs, and the marketing costs).
* Propose how you would position the product in the store to encourage customers to buy it – e.g., together with other red wines or in isolation, together with wines in a similar vs. different price range, … – and explain your reasoning.
* Propose a promotional bundle pricing strategy that would nudge customers to buy more than one bottle (e.g. 2, 4, 6…) and explain why you think it should work.
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