‘Our Magnificent Seven deposit was designed and developed in full compliance with the totally customer-oriented quality management system. We aimed to make the end product as convenient for the customers as is only possible,’ URSA Bank’s Ural branch’s Vice President Alexei Sannikov says.

The bank executive reports the deposit was launched on the market in accordance with all the USP-promoting techniques:

‘First, we looked into our clients’ needs and worked with focus groups consisting of people who’ve got a deposit already and of those who don’t use our products; we carried out a number of experiments. At the same time, we analyzed our rivals’ products and tried to identify their strengths and weaknesses in order to use the good things about these products. In the end, we even had to give up on the basic marketing principle that says ‘differentiate and rule’, since we really wanted to create a perfect, complex product. Having looked into all the pros and cons, we actually realized that we can come up with a truly innovational, and even revolutional, idea, a real ‘killer’, in fact. The product is new in that it is based on a multi-faceted approach, on the combination of everything a customer is looking for in one product. As a result, the deposit is now equally appealing to a wide range of very different social strata from students and retirees to owners of large-scale enterprises,’ Alexei Sannikov explains.