BB&T (Branch Banking & Trust)

Chris CulpMarketing Research

12/14/09

Problem Statement

Determine the preferred method of increasing checking accounts during the mortgage

acquisition process.

Methodology

Secondary Data:

Pre-existing BB&T market research

Primary Data:

Focus Group

Questionnaire

Focus Group Results

The cash incentive must be a minimum of $500 to warrant any attention

Overall, people are satisfied with their current financial institution.

Convenience is valued over service.

Why did you choose to not open a BB&T checking account after

mortgage closing?

No incentiveNo suggestion

2.2% 2.2%

22.2%

77.8%

20%

13.3%26.7%

2.2%

When is the best time to be approached for a checking account?

12.8% 17.9%

15.4%

46.2%

7.7%

Who do you consider your primary financial institution?

Note: BoA, Wells and Credit Union = 2/3 of responses.

25% 22.5%

20.0%20.0%

5%

Cash & Non-Cash Incentives

Not viable:•Reduction of

closing costs $200•Free tax

preparation•One time cash incentive $200

•$250 cash back

Not viable:•Complimentary

Assistance

•No ATM withdrawal fees

Recommendations

Primary: Conduct further research.

Secondary: Implement “preferred” non-cash incentives.

Watch your competition....who is the market leader and who is imitating?