Meeting customer needs - Young Savers
A Yorkshire Building Society case study

Below is a list of Business Case Studies case studies organised alphabetically by company. To view more companies, please choose a letter from the list below.



Customer, YBS, account, segments, parents, market, target, money, savings, communications, compete, providers, Building Society, young savers, focus group.


This case study illustrates customer orientation by showing how Yorkshire Building Society (YBS) has carried out detailed research into the financial requirements of young people with a view to offering them products that most meet their needs.

In 2002, YBS completed the implementation of a retail strategy designed to tailor branches to meet local needs and enhance the customer experience.

Traditionally, providers of financial services for young savers have competed on products such as savings accounts by offering more attractive rates.

To date, YBS has used a product-led approach successfully, given its aim to offer long-term value to its members.

Within the financial services sector the traditional approach has been to regard value as 'financial'-- both for the customer and the provider.

However, in the current highly competitive climate with new entrants to financial services such as supermarkets and online providers, it is important for YBS to stand out from its competitors and that's where 'non-financial' value counts.

Yet it has been largely ignored to date by financial services providers, who still continue to compete on rate.

Range of customer focused products and services interest rate introductory offers, more focused customer service relevant targeted communications, etc.

YBS commissioned research to help it understand its target audience's needs, behaviours and motivations and to identify their various life stages/age splits.

Financial needs of this older age group are affected by legal requirements, e.g. the minimum age for taking a car driving test is 17.

YBS worked with focus groups of parents and young people divided into 4 different segments based on life stage.

Learning outcomes:

As a result of carefully reading this case study, students should be able to:

  • understand the difference between product orientation and customer orientation
  • explain how Yorkshire Building Society has researched its youth market
  • define the terms; market segmentation and target market
  • show how the youth market for financial products is made up of distinct segments
  • describe some of the insights developed from focus group research by Yorkshire Building Society
  • explain how the insights from focus group research enabled Yorkshire Building Society to create products targeted at specific market segments
  • explain key elements of Customer Relationship Management.

Yorkshire Building Society | Meeting customer needs - Young Savers