Research & Product Development officer at Tower Sacco

The Research and Product Development Officer is responsible for overseeing and managing research and development activities within the organization. This will involve working in liaison with the marketing team to innovate, design and develop new products or improve the existing ones. The officer is expected to ensure that research projects align with the SACCO’s strategic goals, adhere to budgets and are timely delivered. The critical role will be to ensure the SACCO remains competitive in the industry delivering value through research and development efforts.

Duties

• Conduct regular market research and member needs assessments to identify new products, opportunities and areas for improvement.
• Analyze competitor products, pricing, and marketing strategies to inform SACCO product positioning.
• Collect and interpret data on market trends, member demographics, and economic indicators relevant to SACCO operations.
• Prepare detailed research reports and recommendations for management decision-making.
• Maintain a research database for continuous tracking of member behavior, preferences, and satisfaction levels.
• Design, develop, and pilot new financial products and services (savings, credit, investment, and digital solutions) that meet member needs and align with the SACCO’s strategic plan.
• Review and enhance existing products to ensure continued relevance and profitability.
• Coordinate product testing, implementation, and post-launch evaluations.
• Liaise with ICT, Credit and Operations departments to ensure smooth product rollout and integration.
• Ensure all new and existing products comply with regulatory requirements and internal policies.
• Work closely with the Marketing Department to develop marketing strategies for new and existing products.
• Support product campaigns with research-backed insights and performance tracking.
• Monitor and evaluate product performance against set targets and prepare periodic performance reports.
• Recommend strategies to improve product uptake and member engagement.
• Train SACCO staff, Business Development Officers and sales executives on new product features and benefits.
• Collect feedback from members and staff to continuously refine products.
• Build partnerships with relevant organizations and institutions for product development support, innovation, and benchmarking.
• Any other duties you may be assigned by the Head of Marketing, the CEO or any authorized officer.

Background Requirements

• Thorough knowledge of product development cycle.
• Possess analytical & technical skills.
• Possess creative and innovative mindset.
• Excellent written and verbal communication skills, including the ability to present information clearly and persuasively.
• Proficiency in research methodologies and tools, including statistical software and data visualization platforms.
• Should be able to work independently, meet deadlines and obtain results.

Preferred Qualifications

Formal Qualifications

• Bachelor’s degree in Marketing, Economics, Statistics, Development Studies, Business Administration, Cooperative Management, Finance, or a related field.
• A Postgraduate Diploma or Master’s Degree in Marketing, Research, Product Development, or Cooperative Management will be an added advantage.
• Certification in Market Research, Product Development, or Project Management is desirable.
• Membership in a relevant professional body (e.g. Marketing Society, Research Association, or Cooperative Management Institute) is an added advantage.
• Minimum of 4 years of demonstrated professional experience in market research, project management, development and/or monitoring and evaluation, product/business development, development, preferably in a SACCO or financial institution.
• KCSE (C Plain) with C (plain) in English and Mathematics.