Case study: Renovation Loans – Strategic Research in Singapore

The challenge

A Global Fortune 500 company involved in financial services, personal credit and insurance sought to introduce a new renovation loan offering in Singapore. Spire was tasked to test its product concept prior to the official launch.

The objectives of the study were to assess the potential for the new renovation loan product in Singapore, refine the intended customer value proposition and outline a suitable marketing strategy.

The process

Spire used secondary research to quantify the potentially addressable number of loan customers and assess the regulatory environment and competitive landscape for renovation loans in Singapore.

Focus group discussions were also conducted with both current and prospective renovation loan customers (household decision makers) to identify the perception and usage patterns towards renovation loans


The results

Spire’s findings enabled our client to establish feasible targets and develop a detailed product launch strategy that was implemented

Project deliverables included a report that:

Addressed the market size and growth for renovation loans
Recommended key product features, pricing as well as marketing and channel strategies