Banking · Marketing in Retail Banking
A bank's marketing department is conducting a 'Value Proposition' analysis for its newly launched 'Millennial Digital Savings Account.' The account features 24/7 UPI access, a virtual debit card with cash-back on OTT platforms, and an AI-based personal finance manager. Which specific consumer requirement dimension are they primarily addressing to differentiate this product?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Epistemic Value by providing a product that is so complex that it requires constant learning and exploration by the user.
- 2Social Value by enabling the consumer to share their transaction history and savings goals on social media platforms.
- 3Functional Value through the simplification of transaction processes and enhanced utility of digital tools.✓
- 4Economic Value through the provision of the highest interest rates available in the domestic market.
Correct answer
Functional Value through the simplification of transaction processes and enhanced utility of digital tools.
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