MARKET
RESEARCH 
The
Summit Group has conducted numerous confidential and
disclosed market research assignments for firms throughout
the securities industry. This research has helped
firms successfully improve their processing, reposition
products, focus on market segment opportunities and
develop strategic approaches to their businesses.
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SERVICES:
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REPRESENTATIVE
ASSIGNMENTS:
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SERVICES:
Surveys
We believe that our clients should have the data that
is needed to understand their products' acceptability
and potential profitability as soon as possible, and
therefore advocate incremental research. It is more
economical and effective to conduct surveys and analysis
in small distinct steps than in large all-encompassing
studies.
By
segmenting the market, gathering and analyzing market
information in layers, our clients can see the results
as they are obtained. Our approach makes it possible
for our clients to redirect or modify a survey while
the costs are still minimal. This results in a clear
understanding of the opportunity while saving time
and money.
TSG surveys are conducted on a confidential basis
or are for general industry use. For example, our
annual Market Data Survey has become the standard
by which data vendors' customer satisfaction is measured.
This survey, published each March, is used by customers
and vendors alike to improve the overall level of
quality in the industry.
In
the survey we contact the users of various market
data products to determine how the users of these
services rate their vendors' accuracy, reliability
and coverage. The results are published in a supplement
to our newsletter, Securities Operations Letter.
Highly rated vendors receive awards at an annual ceremony
in New York.
Product
Development
Today's evolving marketplace provides numerous product
opportunities, and the changes in the available technology
encourage the consideration of new delivery techniques.
We help our clients capitalize on these trends and
bring new products to market by conducting market
research, competitive surveys, pricing analysis, and
by defining the new product's entry strategy and delivery
requirements.
We
have assisted in developing and implementing numerous
banking and securities products, including consolidated
statements, cross-border settlement services, electronic
interfaces and new delivery mechanisms.
Competitive
Analysis
Understanding competitors' positioning, products and
strategies is essential to establishing a distinctive
and successful business strategy.
We
have assisted several of our clients by analyzing
how industry trends and opportunities affect the general
competition or a specific competitor, and have collected
detailed information on competitors to help our clients
increase their profitability.
Benchmarking
Knowing your own results is important, but not nearly
as important as knowing where your results are compared
to rest of the industry. A benchmarking process can
provide a neutral ground where competitors can share
certain categories of information to their mutual
advantage.
TSG has performed several benchmarking studies for
our clients, and has helped these clients improve
their products and processing, and introduce new products.
Benchmark
Syndicates
Surveys that are implemented for a specific client
can only give one level of information about the market
place. The establishment of a syndicate of survey
sponsors and participants can result in industry benchmarks
that will be useful to all of the participants.
In
a benchmark syndicate, all of the participants receive
annual evaluations of their results compared to the
average results of the entire group. Detailed data
is confidential for each participant.
REPRESENTATIVE ASSIGNMENTS:
Customer
Survey
Engaged by a major software firm to interview their
current and potential clients to identify how their
market penetration could be improved. We talked to
CIO's and senior development staff, summarized the
responses and made specific recommendations on the
firm's positioning, and on the marketing and sales
activities that would increase revenue in the short
and long term.
Trends
Analysis
A leading Global Custodian wanted to identify and
understand the key trends that are driving the worldwide
securities industry. We conducted primary and secondary
research that resulted in the identification of eleven
basic trends. Each major trend was supported by defining
the underlying trends and a set of metrics that would
allow our client to continue monitoring the trends
after the assignment was completed.
Surveys
Conducted numerous telephone, questionnaire and in-person
surveys of customers, potential customers and industry
experts to answer specific client questions and concerns.
The results of TSG's confidential surveys are discussed
only with our client, while the results of general
industry surveys are published in our newsletters,
Securities Operations Letter or Global Custody
News.
Benchmarking
Identified unit costs and average processing times
for multiple activities and collected comparable data
for equivalent firms. Compared the results, identified
Best Practices and assisted our client in implementing
the most useful concepts.
Statement
Design
Re-designed a client statement package that consolidated
banking and brokerage information and presented it
in an easy to understand format for the Private Banking
business of a major international bank. After surveying
the existing competition, we conducted focus group
sessions to understand how people used statements.
We then designed the statement, built the data repository,
and produced customized statements within a six month
period of time.
Industry
Survey
Engaged by The Depository Trust Company to evaluate
the market potential for a new industry-wide service
that became Trade Suite. The survey involved numerous
in-depth interviews with senior industry experts as
well as questionnaires that were sent to banks, brokers
and investment managers throughout the securities
industry.
Marketplace
Training
Surveyed how the leading database vendors served the
securities industry and presented the results to our
client - the database vendor's senior marketing and
sales staff. The presentation included an overview
of how the securities industry works and how various
firms within the industry use database software.
Technical
Architecture Survey
Reviewed how leading firms architected their applications
and employed technologies to meet their current and
future needs. The survey included detailed interviews
with key CIO's and senior technical staff in securities
firms throughout the US. The result of the survey
was used as input for a new strategic technology plan
and as the basis for the redesign of several applications.
Applications
Analysis
Assisted several clients in defining User Requirements
after TSG evaluated what our clients' competition
was using to support similar products. We prepared
RFPs, evaluated the results of the RFPs and developed
a recommendation. Many of these assignments have resulted
in The Summit Group assisting in the implementation
of the new application that was selected.
Staff
Survey
Assisted a leading international bank to identify
the technical and professional competencies of its
current IS staff and determine the competencies that
will be needed to implement the next generation of
technology within the bank. The research process included
a detailed questionnaire and a series of in-depth
focus group sessions, which resulted in a presentation
of the results and a recommendation to our client's
senior management. Based upon our recommendation,
the bank changed its recruiting, hiring and training
policies for technology professionals.
Product
Analysis
A major international services firm located in Europe
engaged The Summit Group to identify the specific
products that could be added to their product line
that would position the firm to profit from fundamental
industry trends, and which would not compete with
their bank owners. The process involved detailed,
in-person interviews with over forty senior bankers
in the US and in Europe. As a result, our client was
able to modify their product line and processing flow
to increase revenues within a very short period of
time.
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