Financial services firms are often forced to develop new products and services as regulations change, as customer requirements shift and as new technologies emerge. The very nature of such change requires a thoughtful and thorough assessment of emerging consumer preferences.

Meanwhile, the financial services landscape has become increasingly competitive and marketers must rely on highly differentiated products to stand out and gain market share. To be successful in the new product development phase, companies must be able to easily explore a wide range of product ideas and variations to arrive at the right combination of features and marketing elements (name, consumer insight, promotional offers, key visuals, etc.) to test with consumers. Today's traditional product innovation process can only evaluate one concept at a time, delaying the response to market changes and leaving many potentially blockbuster ideas unexplored.

Affinnova’s IDDEA II process enables marketers to explore a virtually unlimited number of idea variations and then to vet the entire space of considered concept alternatives with target consumers to find those with the greatest market potential. Identified top concepts can then be measured against competitive concepts with IDDEA II to determine the best concept among them and assess its competitiveness in the market.

Affinnova assures that the best of the exhaustive space of concepts are brought forward and measured to identify potential in-market success. This brings incredible clarity and confidence to the process and assures you of the maximum impact on customer loyalty and ROI.