Sample Questionnaires.

Sample Questionnaires

Get to know CIMB Junior Savers Account today!
We are final year student from the Faculty of Creative Multimedia majoring in Media Innovation. We are doing a survey for our final year project and we appreciate it a lot if you can participate and answer the questionnaires. The survey is very simple. We just want to ask few questions about savings account for kids. Hope you can help us out. Thank you very much for participating.

1. Age :
o 20 to 25 years old
o 26 to 30 years old
o 31 to 35 years old
o 36 to 40 years old
o 41 years old and above

2. Gender :
o Male
o Female

3. Income Range :
o Below RM 1,000
o RM 1,000 – RM 1,800
o RM 1800 – RM 2,500
o RM 2,500 - RM 3,500
o RM 3,500 and above.

4. List your top 3 banks for savings account in Malaysia.
………………………………………………
………………………………………………
………………………………………………

5. Which bank would you choose to open up savings account for your kids?
o Maybank Yippie
o CIMB Junior Savers Account
o Bank Rakyat Nuri

6. Are you aware that CIMB has launched savings account for kids?
o Yes
o No

7. If Yes, from which medium did you notice about CIMB Junior savers account?
o Radio Ads
o TV Ads
o Print Ads – (Brochure, Pamplet, Billboard, Newspaper,etc)
o Website
o CIMB Branches
o Others

8. Are you interested to open savings account for your kids with CIMB Junior Savers Account ?
o Yes
o No

9. What is the best way to promote CIMB Junior Savers Account ?
o Brochure
o TVC
o Billboard Advertisement
o Online Advertisement
o Printed Advertisment
o Promotional Booth

10. If you are given choices, which programme that you prefer the most for your child?
o Savings account
o Education Plan
o Insurance

Research Development.

Websites.

- http://www.cimb.com/index.php?ch=group_ch_ob&pg=group_pg_ob&ac=352&tpt=cimb_group
- http://www.cimbjunior.com.my/
- http://www.maybank2u.com.my/mbb_info/m2u/public/personalDetail04.do?channelId=ACC-Accounts&cntTypeId=0&cntKey=ACC01.08&programId=ACC01-SavingsAccounts&chCatId=/mbb/Personal/ACC-Accounts
- http://www.rhb.com.my/deposits/savings-account/sa_junior_main.html
- http://www.marketing-interactive.com/news/20581
- http://en.wikipedia.org/wiki/CIMB
- http://www.bizhelp24.com/marketing
- http://www.globalbusinessinsigsth.com
- http://www.bisnessteacher.org.uk
- http://www.corsework4u.co.uk
- http://www.bankinginfo.com.my






























Brohure.


















Banner.
























Interviews.

S.W.O.T Analysis.

SWOT ANALYSIS

Strengths

i . Enjoy up to 100% bonus of interest/profit on total interest/profit when consumer save regularly.
ii . With CIMB Junior recognition card, kids can enjoy discounts and privileges with selected merchant stores listed under CIMB.
iii . Children aged 12 and below, with any nationality can apply for CIMB Junior Savers Account. MyKids or passport need to be presented upon registering.
iv . The interest rates are higher than a normal savings account.



Weaknesses

i . Minimum deposit amount to open up CIMB Junior Savers Account are higher compared to other banks.
ii . CIMB Junior card only offers at selected outlets only therefore it is not convenience enough.
iii . It has limitation on how much you need to at least save, to get the certain interest rates.
iv . Lack of promotion, not everyone knows that CIMB offers a savings account for kids.



Opportunities

i - Increasing financial activities, therefore parents are keen to save money for their children as a backup plan for the future.
ii - There are always new born child so there are always parents who want to save money for their children from time to time.
iii - Good financial position, therefore consumers will think that saving money is a good plan for their futures.
iv.- Strategic location of CIMB branches makes a good opportunity for consumers to do financial activities.



Threats

i - Due to competitor activities and the banking/financing industry is pretty competitive, parents are drawn to other banks.
ii - Economy downfall, therefore parents do not want to take risk by saving the money for their children in the bank.
iii - Raising cost of living.
iv.- Virus threats through emails using CIMB name.

The Competitor - Indirect Competitor.

Indirect Competitor


PRUlink Education Plan

The PRUlink education plan is an investment-linked plan that matures when their child reaches 25 years of age. It offers a unique combination of features that not only secures a good education, but also provides protection for their child. It is also flexible enough to adapt to their child's changing needs, as well as their parents.
The PRUlink education plan is an investment-linked plan that gives parents and their child :
• Protection: The basic plan covers their child for Death and Total and Permanent Disability, and comes with a host of optional add-ons that can be custom-built onto the plan.
• Savings: A portion of the premiums will be invested into their choice of PRUlink equity, bond or managed funds – all tailored to ensure best possible returns on their savings, and growing their child's education fund. They choose the fund that best suits their risk appetite.


• Flexibility & control: Vary the amount of insurance protection for death and disability for their child without affecting their parent’s premium. Switch the investment between PRUlink funds at any time, for a small fee. For the first switch a year is FREE. Top up investment with lump sum payments at any time. Or, make withdrawals or cash out policy to pay for child's education at any time.
• Additional investment opportunities: They can also add on an optional PRUsaver rider, which invest more of their money into any of the six PRUlink funds so that they can have more flexibility to increase their child's education fund.
• Convenience: Their child can choose to take up a new PRUlink policy for the same amount of benefits without evidence of insurability, when they reach 25 years of age and the maturity value is paid.

YIPPIE Care 2 INSURANCE

Yippie Care 2 is a life insurance for your child offering a maturity value that's twice the sum insured, guaranteed, making it easier to plan for child's education.
About the product :
- Death and Total and Permanent Disability (TPD) benefits for your child.
- Option to add additional riders for a more comprehensive plan.
- Free and convenient auto-debit of contributions from your Maybank Current/Savings account or credit card.
- Option of paying annually, bi-annually, quarterly or monthly.
- Discounted premium rate if sum assured is RM50,000 and above.

The Competitor - Direct Competitor.

Competitor Situation Analysis


Direct Competitor - Maybank Yippie

Malayan Banking Berhad or Maybank was incorporated in Malaysia on 31 May 1960 and commenced operations on 12 September 1960. On 17 February 1962, Maybank was listed on the then Kuala Lumpur Stock Exchange (today Bursa Malaysia). Maybank is today among the top companies by market capitalization on Bursa Malaysia. Maybank is Malaysia’s largest financial services group with total assets exceeding RM330 billion. Maybank has been consistently ranked among Malaysia’s most valuable brands. It is also ranked first among Malaysian banks by Brand Finance in its Global 500 survey and 118th among the top 1,000 banks in the world by The Banker Magazine. Yippie savings account is designed for kids to teach the value of savings to kids and teens 18 years old and below by offering high interest rates as well as personal accident insurance for only Php1,000 initial deposit and maintaining balance.

BANK RAKYAT NURI

Bank Rakyat is its members’ Choice Bank for all its product and service offerings are the best compared with those provided by other competing financial institutions. The main function of Bank Rakyat is to provide financing and accept deposits as well as producing satisfactory dividend returns for betterment of its members.

Comparison :

The Market.

The Market

Survey Feedback

A survey consisting of 10 questionnaires was done to define the right target audience for CIMB Juniors Savers Accounts. Surveys were distributed around Klang Valley areas, and also through online. 25 parents took part in this survey and the feedbacks helped us to state the target market.
Most of the questions in the survey were about the awareness of kids savings account and at the same time to introduce to the people that CIMB has launched savings account for kids. Other than that, to know what is the best way to promote CIMB Juniors Savers Account.
Majority of the parents who took part in this survey, are young parents between the age of 21 - 25 years old, 8 of them are 26 - 30 years old, 2 of them are 31 - 35 years old, 3 of them are 36 - 40 years old and 1 of them is 41 years old. Whilst for the gender, 15 of them are females and 9 of them are males.

As for the income range, 5 of them with income range of below RM1000, 6 of them with income range of RM1000-RM1800, 4 of them with income range of RM1800-RM2500, 6 of them with income range
of RM2500 – RM3400, 4 of them with income range of RM3500 and above.

For the question, list top three banks for savings account in Malaysia. Almost all of them named Maybank as their first choice of bank.
While the bank that they would prefer to open savings account for their children is, Maybank Yippie with 19 votes, followed by CIMB Junior Savers Account with 3 votes and lastly Bank Rakyat Nuri with 2 votes. For both of these questions, would give a simple conclusion that Maybank is the main competitor in kids savings account.

15 of the parents said that they are not aware that CIMB has launched kids savings account and the rest, 10 of them are aware.

The seventh question was an optional question about where did they heard about the CIMB Junior Savers Plan , 2 of them said from radio ads , print ads (brochure, pamphlet, billboard, newspaper) , CIMB branches, each. Only one of them seen the TVC ad while 3 of them stated others. From both of these questions, can conclude that the promotion is not enough to capture the target audience.

However, 16 of them said they are interested to open up savings account for their kids at CIMB and only 9 declined to do so.

Which is the best medium to promote CIMB Juniors Savers Account, 14 of them voted by doing TVC , 4 of them preferred online advertisement, 3 of them chose brochure and pamphlet, and one each for billboard ad, printed ad and promotional booth. This gave a proof that parents are still interested to open savings account for the kids but if given the right benefits then parents would not hesitate to do so.

Asked which one is their preference for their kids, 21 voted the educational plan, 2 voted savings plan and one said insurance is the main preference.

Conclusion

The survey has helped a lot to define the main issue which is, lack of promotion and people are not aware that savings account kids has been launched by CIMB as well as the importance of savings account for kids. There are a lot that need to be notify and to improve for this product so that this product will reach its defined target market. Everything from marketing strategy to advertising strategy need to improve more so that this product will be relevant and not just work as a normal savings account for kids.

Targeted Audience

Demographics

Age : 25 – 30 years old
Gender : Male and female
Income range : RM 1500 – RM 3000
Education Level : College graduates, University graduates, Post – Graduates.
Occupation : White collar.
Race and Ethnicity : All races and all ethnicity.
Geographic location : Urban, Sub-Urban.



Psychographics

Perception : Parents who are aware of the future of their children beholds in savings money.
Learning : Parents who obtain knowledge through workplaces, surroundings, ads, medias, internet.
Motivation & Needs : Parents who want to provide a backup plan for their children.
Attitude : Parents who are responsible and they don’t take for granted for the future of their children.
Personality : Caring and respect the needs of their children.
Lifestyle : More towards family-first.

Industry and Marketplace.

Banking / Financing in Malaysia
Industry.

The banking and financing industry has shown a very impressive feedback in Malaysia as
the industry has growth rapidly and definitely moving forward to a better future of economy.
A lot of people are more aware of the future and they have taken early precaution such as taking various kind of insurances, savings account, educational plan and other financial plan for themselves. The banking industry is pretty competitive as more and more banks started to see Malaysia as a great potential to expand the banking area.

The banking industry can play a key role in promoting insurance products in Malaysia that reflect lower pricing structure and improvement in operational efficiency. However stated by Bank Negara Malaysia's deputy governor Datuk Mohd Razif Abdul Kadir, the Malaysian insurance industry dominated by five of the largest insurance players was still facing high operating costs, lack of economies of scale and lack of awareness on the importance of insurance covers.

Many domestic banks have yet to leverage on the banc assurance (insurance products provided by banks) strategy. The insurance industry which is relatively untapped with only 44 per cent of Malaysians having life/takaful coverage can be further promoted with increasing significance on insurance products that give greater returns and cost savings to consumers.

There are positive growth prospects for the industry moving forward with increasing disposable income of the population and demographic changes providing increasing demand for medical insurance and retirement plans. The banking industry has led to many branches of banking services and products , some of the services are deposits and loans/hire purchase , taking up loans, phone banking, online shopping, topup from ATM machine.
All of these features are made especially for bank customers to make their way of banking become more simpler and more sophisticated.

In addition to improving banking features and methods, it has also led to the introduction of new products and services like credit and debit cards, investment products (insurance and unit trusts), financing products and services (trade and share financing), trade and credit facilities, remittances, loans to priority sectors and Islamic banking. As for CIMB, the market share of CIMB is right under Banking/Financing. CIMB is a very well known and promising bank, CIMB’s strategy to promote CIMB Junior Savers Account is a great way for the kids to start spending from early age therefore, children would be ready to overcome financial problem in the future.