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Market Survey Expansion through Micro-Banking Offices

Market Survey Expansion through Micro-Banking Offices. Survey Questionnaire. What is it? Why do we need it? Who are our target respondents? How many do we need to interview? How do we do interviewing? How do we process the responses?. Survey Questionnaire. What is it?

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Market Survey Expansion through Micro-Banking Offices

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  1. Market SurveyExpansion through Micro-Banking Offices

  2. Survey Questionnaire What is it? Why do we need it? Who are our target respondents? How many do we need to interview? How do we do interviewing? How do we process the responses?

  3. Survey Questionnaire • What is it? • Micro-banking Office Market Survey

  4. Survey Questionnaire • Why do we need it? • To determine the various banking services needed by residents in the target area • To estimate size of different market segments such as OFW families, farming families, • To estimate potential micro loan clients and micro depositors • To ascertain socio-economic status of households through poverty self-assessment

  5. Survey Questionnaire • Who are our target respondents? • The bank should determine the target respondents’ age and where they are located (i.e. municipality, barangay)

  6. Survey Questionnaire • How many do we need to interview? • At least 50 randomly selected respondents

  7. Survey Questionnaire • How do we do interviewing? • Organize group of interviewers

  8. Survey Questionnaire • How do we process the responses? • Responses will be tabulated, summarized and analyzed to be used to determine potential services • Template included in the CD

  9. Sections of the Questionnaire Respondent’s Personal Profile Income Sources of the Respondent Income Sources of the Household Loans Savings Micro-insurance Mobile Phone Banking Payment Center Access to Bank Poverty Self-assessment

  10. Walk through the questionnaire Practice reading Mock interviewing Hands-on-Practice with Clients Be Familiar with the Questionnaire

  11. SAMPLE: MBO MARKET SURVEY RESULTS

  12. Background • Total Number of Respondents: 100 • Period of Survey: 2011 Nov 15 - Dec 15 • Location of Survey: Municipalities of X and Y • 12 barangays

  13. Respondent’s Personal Profile • Gender distribution • Pre-dominantly female (69%) • Age • Median age of 30 • Younger age group (18-24) make up 2.94% • Over 60 make up 9.80% • Civil Status • Majority (70%) are married

  14. Income Sources of the Respondent

  15. Income Sources of the Household

  16. Loans • POINTS TO CONSIDER • Is the market exposed to credit? Is the demand manifested in loan availments for the past 12 months? • 88.10% of the respondents availed of a loan in the last 12 months.

  17. Loans • POINTS TO CONSIDER • Who are the existing credit providers in the area? (Knowing your competitors) • NGOs, to include CARD and TSPI, aggressively sell their credit products to 90% of the respondents • 50% of those approached by NGOs actually applied and were granted a loan • Only 10% of those who availed currently have a loan

  18. Loans • Top three purposes that respondents would likely borrow for include additional working capital (20%), house repairs and improvements (10%), and finance farming activities (10%)

  19. Savings • All respondents set aside money for savings • Majority 70% keep their savings at home • Of the 10 respondents with savings account in a bank, they all have ATM accounts • Affordable initial deposit PhP 100 (98%)

  20. Microinsurance (Self) • Only 1 respondent has an insurance for himself, a life insurance which he bought through an insurance agent • If an insurance product is easily available, 90% will likely buy for themselves, mostly life (70%)

  21. Microinsurance (Family) • All do not have an insurance for his family • If an insurance product is easily available, 90% will likely buy for themselves, mostly life (70%)

  22. Mobile Phone Banking • 50% of the respondents have their own cellphone • An average of 5 members of their household have a cellphone • They are mostly subscribers of Globe (60%)

  23. Mobile Phone Banking • Only 2 respondents have used Smart Money for remittance. • 50% will be interested to use their cellphone for sending or receiving money

  24. Payment Center • 40% of the respondents used some services of a payment center • Remittance (60%) and pay utilities (30%) comprise most of transactions done in a payment center.

  25. Access to Bank • Average of 45 minutes to go to the nearest bank • 90% are interested to use the services of a rural bank if available in the area • Loans(60%) and deposit (30%) services are needed the most

  26. Poverty Self-Assessment • 80% of the respondents consider themselves to be poor

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