Banking · Product Development Process
A public sector bank plans a 'Lifestyle-Based Digital Credit Line' through steps including Idea Generation, Screening, Concept Testing, Business Analysis, Product Development (integrating secure e-KYC), Test Marketing (launched for employees only for 1 month), and Commercialization. Post-launch analysis reveals that Non-Performing Assets (NPAs) reached 4% (double the projected 2%), primarily because the test group was narrow and did not reflect general customer retail credit behaviors. Based on this scenario, what was the primary failure in the 'Test Marketing' stage?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1The stage duration was too short.
- 2The sample size of 5,000 was too small for a national bank.
- 3The test group (employees) was not representative of the actual target market (general retail customers).✓
- 4The stage failed to identify the technical glitch in the auto-debit feature.
Correct answer
The test group (employees) was not representative of the actual target market (general retail customers).
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