1. THE LONGSTANDING
BANK OF CANADA
Research Proposal
Virginia Anderson
Katie Bice
Susan Paul
ADMC153-02
Anna Santilli-Finn
January 29, 2014
*Contents Authored by
Virginia Anderson

2. Initial Research Analysis
Group 6 Research – The Longstanding Bank of Canada
Wednesday January 22, 2014
Overview
The Longstanding Bank of Canada was founded in 1904 in New Brunswick as a building and
co-operative society. With a strong representation in the Atlantic provinces, LBC has
expanded across the country and beyond with 300 locations in a total of 7 countries. The
Longstanding Bank of Canada has a rich history to its name, however recent shifts in the
market are raising questions about the opportunity for rebranding to portray the more
consumer-friendly side of LBC and the implications of doing so. Group 6 Research is pleased
to submit this proposal for research to support The Longstanding Bank of Canada in
investigating the market landscape and the potential outcomes of a change in branding.
Problem Definition
The Longstanding Bank of Canada wants to capitalize on profit and clientele by potentially
changing its name and branding. LBC hopes to update its image in the consumer banking
landscape but require information on its current position and the position of its
competitors before it can move forward. An analysis will be performed to address the
financial implications of a rebranding, the position of the current brand in the market and
the consumer attitude towards it, as well as to the qualities most sought-after in a bank
today.

3. Market Research Objectives
The objectives of market research for The Longstanding Bank of Canada are to examine the
current position the bank holds in the market and the potential ramifications of
rebranding.
1. Discover what the current perceptions of the brand are.
 Identify the consumer response to the company’s products.
 Examine the consumers’ needs and expectations. Is the bank fulfilling these needs?
 Evaluate the reputation the company holds in today’s market.
 Survey clients and non- clients to find out how the bank is perceived.
2. What is the competitive landscape like
 Analyze what other competitors are offering their clients.
 Compare the advantages and disadvantages of the banks’ products versus those of
the competitors.
 Research why other competitors may be more favorable when clients are choosing a
bank.
 Perform qualitative research on how other Banks are doing in the market
3. Which brand leads in terms of market share, consumer impressions, and
favourability?
 Examine what makes this brand favourable?
 Discover what the first impression of the brand is to their clients?

4. Market Research Objectives (continued)
 What are their market shares and why have they become so successful.
 Conduct research on which bank is favoured by the public.
4. What do consumers look for in a bank today?
 Analyze services provided to customers that fulfill all needs.
 Conduct surveys to find what clients look for when joining a bank. (Hours, Fees,
Number of Branches, Online Banking, etc.)
 Conduct surveys on current customers to find out what they enjoy about the bank
and what they would like to see change.
5. How to differentiate itself without losing its current customer base.
 Identify what will attract consumers to the Bank and make it stand out from the
others.
 Develop new and innovative ideas for the branding of the bank.
 Collect opinions from current customers as to what promotions they would like to
see from the bank/any incentives
 Conduct surveys to ensure the current customer base would like to see change or
not.
Methodology
Sampling information is available on page 5
 Online survey
 Email and in person
The Longstanding Bank of Canada requires focused research on their current client base as
well as potential consumer bases that are neglected by the bank’s current structure. This

5. Methodology (continued)
will require both internal surveying of current customers as well as external consumer
opinion polls.
Online Survey (Personal and Small Business Clients)
Prior to customers utilizing the online banking functions of The Longstanding Bank of
Canada, they will be asked to complete a survey for the bank. The survey will be about 2
to 5 minutes long to complete and will offer the incentive of $500 towards the customer’s
savings account OR a Samsung Galaxy phone as a prize for completing the survey (up to 10
will be given between email and online surveying).
Email (Personal, Small Business and Investment Clients)
Customers that do not use online banking but receive emails from The Longstanding Bank
of Canada will be asked to complete the same survey on the bank’s secure server. They will
also be offered the opportunity to receive $500 towards their savings account OR a
Samsung Galaxy phone as a prize for completing the survey (up to 10 will be given between
email and online surveying).
In person (Personal Clients)
The bank will set up in high turnover public areas positioned near current bank locations
(such as a mall setting) where they will ask consumers who are neutral to the bank (may or
may not be members) to do a survey. The survey will be done on an iPad or similar tablet
device. They will be offered the incentive of a Samsung Galaxy phone as a prize for
completing the survey (5 will be given in this line of surveying).

6. Sampling
As the main customer base of The Longstanding Bank of Canada is based in Canada, but
primarily in the Eastern half of the country, the majority of research will be performed
there. Information on current interactions with the bank and opinions on current facilities
will be collected in major urban centres and areas with high involvement with the LBC.
There will be three spheres of customers that will provide information for the research;
large investment partners, small business owners and standard personal banking customers.
Personal Banking Customers
Research will be conducted to show how average customers feel about the bank and how
their opinions of The Longstanding Bank of Canada could be affected by a name change. In
particular the LBC will be interested in the opinions of young married couples and students,
both of which are under-represented groups in consumer banking.
Small Business Owners
Research will be conducted to show how small business owners feel about the bank and
how their opinions of The Longstanding Bank of Canada could be affected by a name
change. They will also be surveyed to gain insight into the tools that could be offered by
the bank to support their business endeavours.
Large Investment Partners
Research will be conducted to show how investment partners feel about the bank and how
their opinions of The Longstanding Bank of Canada could be affected by a name change.
They will also be surveyed to gain insight as to what investment partners are attracted to
in the market and how LBC compares in terms of opportunities and profit margins.

7. Reporting
In the final report, the client will receive a detailed report that will answer the
Longstanding Bank of Canada’s questions on the market landscape and the potential
ramifications of a name/image change. The final presentation of the information will be in
the form of a PowerPoint that will include summarized information from the research.
Budget
The budget for this project is zero dollars.
Authorization
The Longstanding Bank of Canada has given authorization to Katie Bice, Susan Paul and
Virginia Anderson to do research for the company in order to form the market research
plan.
_______________________ ________________________ ______________________
_______________________ Date: Wednesday, January 29, 2014