Qualitative Case Studies

 

ECONOMIC INITIATIVE PROGRAM DEVELOPMENT

CHALLENGE:

The second largest city municipality in the State of Florida and a national non-profit that focuses on financial literacy established a strategic partnership to eradicate financial illiteracy within the target city, but were unclear where to establish the financial literacy service centers and what financial literacy services the community would support.

SOLUTION:

Conducted IDIs and focus groups to ascertain the financial literacy needs of the city municipality’s residents and the best location for the financial literacy centers.

 

RESULTS:

Research revealed an overwhelming support for the financial literacy services when being rendered free versus when associated with a fee. Thus the city municipality should earmark funding to cover program expenses.

Research revealed that personal budgets, retirement, homeownership and credit repair counseling are the financial literacy services that will garner the most community support. Thus, the city municipality could offer thesefinancial literacy services (directed by experienced financial professionals), further increasing the community support.

Research revealed that five of the city municipality’s high community contact park sites would be ideal locations for the offering and administering of financial literacy services. This would allow maximum access to the financial literacy services to the city municipality residents. The research also revealed that the best day and time of the week for providing financial literacy services are on Saturday between the hours of the 9am -10am.

Research revealed that there are 50 religious establishments in the city municipality and the top three employers are the school board, county government and the city government. This information allowed for the development of a collateral material mailing and email marketing campaign to maximize advertising penetration of the financial literacy service product offering within the city municipality.

The over-arching theme of the market research findings is that the city municipality residents will support a financial literacy service that is free of charge, easily accessible and available on desired days and times.

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