EXAMPLE REFLECTION- LEARNING LAUNCH

Challenge

I work in a bank and to be more specific I am a member of the marketing department and  my/our project is to create new products to the market, in order to boost sales of loans for  the agricultural sector.

Selection

After we have designed the new loan and its terms of use and after many ours of discussion  around which design thinking tool is the appropriate to use, we concluded to use the  learning launch tool as we wanted to take down a learning experiment so as to collect  market-driven data, data which would guide us to decide whether we will proceed to a full  new product roll out.

Application

One of the most important theories we wanted to test was whether the bank should launch  the new loan and whether it would be profitable or not. What we did was to release the  product to those branches that most farmers were situated (for example branches that were  located near to large cities and big villages throughout Greece). We sent a list of possible  customers to our branch officers and told them to just make a phone call to the members of  the list so as to inform the possible customers for the new product and its characteristics.

Insight

The results were amazing. Up to 80% of the customers visited the branches and nearly 60%  of them took the loan. Because of the characteristics of the loan the profitability increased  dramatically. The bank decided after 5 months’ time to launch the loan to all of its branches.

Approach

The learning launch tool for such problems is the appropriate tool. We tried several other  ideas/tools of design thinking but whenever we wanted to see whether a new product  should be produced or not, whether a new product will be applicable or not, we concluded  learning launch tool to small regions is the most appropriate.


EXAMPLE REFLECTION- LEARNING LAUNCH Challenge I work in a bank and to be more specific I am a member of the marketing department and my / our project is to create new products to the market , in order to boost sales of loans for the agricultural sector . Selection After we have designed the new loan and its terms of use and after many ours of discussion around which design thinking tool is the appropriate to use , we concluded to use the learning launch tool as we wanted to take down a learning experiment so as to collect market - driven data , data which would guide us to decide whether we will proceed to a full new product roll out . Application One of the most important theories we wanted to test was whether the bank should launch the new loan and whether it would be profitable or not . What we did was to release the product to those branches that most farmers were situated ( for example branches that were located near to large cities and big villages throughout Greece ) . We sent a list of possible customers to our branch officers and told them to just make a phone call to the members of the list so as to inform the possible customers for the new product and its characteristics . Insight The results were amazing . Up to 80 % of the customers visited the branches and nearly 60 % of them took the loan . Because of the characteristics of the loan the profitability increased dramatically . The bank decided after 5 months ’ time to launch the loan to all of its branches . Approach The learning launch tool for such problems is the appropriate tool . We tried several other ideas / tools of design thinking but whenever we wanted to see whether a new product should be produced or not , whether a new product will be applicable or not , we concluded learning launch tool to small regions is the most appropriate .