President's Choice Case Study:

Published by: Datamonitor

Published: Jan. 29, 2010 - 17 Pages

Table of Contents

DATAMONITOR VIEW

CATALYST

SUMMARY

ANALYSIS

Introduction

PCF utilizes the connotations of quality and exclusivity that accompany the President's Choice brand

The President's Choice brand sits within the Loblaws chain and encompasses food and non-food products, plus mobile and financial services.

President's Choice Financial has generated client growth even whilst the economy suffered

The growth of online banking points towards continued success for PCF

There still exists opportunities to more fully integrate the PCF brand and the Loblaw supermarket

President's Choice Financial has no branches and yet still maintains award winning customer satisfaction

President's Choice Financial excels in customer service despite no dedicated branches

President's Choice heavily appeals to a consumer trend of Convenience

President's Choice has been effective at avoiding the consumer distrust shadowing the majority of the financial sector

PCF conveys authenticity and wholesome values through close reference to its grocery roots

There exists a risk to a close association between the Loblaw supermarket and the bank

PCF's reward scheme is simple and effective at supplying value and tying consumers into the group's other stores

The PCF points scheme's ease of use and flexibility once again tune into the consumer trend of Convenience

Redeeming rewards points at partner companies ties consumers into partner companies, grooming consumer loyalty

UK FOCUS: UK supermarket heavyweights are looking to emulate the success of PCF

The UK market looks ready to accept supermarket FS provision

UK retailers have already made progress in establishing a customer base

If the end of free banking is nigh the tie ins and loyalty schemes offered by supermarket banks like PCF become key to attracting new consumers

APPENDIX

Definitions

The Datamonitor Financial Services Consumer Insight Megatrend Framework

Authenticity

Comfort

Connectivity

Convenience

Individualism

Wellbeing

Demographic Complexity

Financial Intelligence Complexity

Lifestage Complexity

Wealth Complexity

Methodology

Ask the analyst

Datamonitor consulting

Disclaimer

List of Figures

Figure 1: President's Choice Financial Logo

Figure 2: Canadian market looks set to recover in 2010 pointing towards further growth for PCF

Figure 3: PCF strongly push their online banking channel

Figure 4: President's Choice Financial sees rave consumer satisfaction reviews, well ahead of industry averages

Figure 5: Convenience is at the forefront of the President's Choice offering

Figure 6: PCF closely associate their financial products with their grocery roots

Figure 7: A simplified points system delivers rewards that customers value

Figure 8: Supermarkets are more trusted than banks and significantly more trusted than insurers in the UK

Abstract

• This case study analyses the key successful elements in the marketing strategies of President's Choice Financial
• The case study examines how the brand has developed to its current status and why it appeals to consumers so strongly
• Datamonitor's Financial Services Megatrend Framework is used to analyze the effectiveness of customer targeting strategies

• Gain insight into the methods used by important industry players to give them a competitive edge
• Capitalize on the knowledge of experienced companies when entering a new market
• Understand this successful model and see how other competitors could learn from this success

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