| Systematic collection and analysis of data relating to sale and distribution of financial products and services. Market research is an early step in the marketing process, and includes an analysis of market demand for a new product, or for existing products, as well as appropriate methods of distributing those products. Techniques in market research include telephone polling and focus group interviews to determine customer attitudes, pricing sensitivity, and willingness to use delivery alternatives. Most large banks have their own market research departments that evaluate not only products, but their Brick and Mortar branch banking networks through which most banking products are sold. |
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