Capital One is thinking of launching a new credit card for active people. Should we?

Clairfication Question:

What is our market size of active people?

 

Assumptions:

Assume that market size of active people in U.S. are from age 22 - 25 (fresh young professionals), parents who are going to get a supplementary credit card for their kids, and customers who want to get a new credit card beyond what they already have.

Main Issue:

identify what the new credit card's new feature(s) is?

Capital one has two main credit cards to attract Frequent Traveler, or customer interesting in Cash Back rewards.

 

Solutions:

1) We need to have Market research to identify customer segments to develop the new feature for the new credit card. Our goal is to understand what else our potiential custumers are still looking for?

For example, fits to one or two categories: increase reward to 5% cash back on dining and ground transportation purchases, plus 1.5% cash back on rest every purchase.

                       More customisable: choice of 3 fav stores on customer to earn 5% cash back, plus 1% cash back on rest every purchase.

                     Partnership with luxury goods or global chains.

 

2) Based on current credicards holders, provide a survey on their best satisfied credit card featurs, best satisfied credit card user experiences.  

 

3) Research on the competitors to evaluate:

what creditcards do we already have on the market?

What are those highly-rated creditcards?