Advertisement

Customer behaviour and market segmentation

  • Arthur Meidan
Chapter
Part of the Macmillan Studies in Marketing Management book series

Abstract

The initial studies of bank customer behaviour started with the banks’ interest in the services they offered, and the customers’ attitudes, beliefs and perceptions about those services. The questions employed in the market research tests asked six basic questions, namely: who is the customer; what does the market buy; when does the market buy; who is involved in the buying; why does the customer buy; how does the market buy? The information gained has been used to improve the design of services, relationships and bank communications. The studies highlighted the importance of factors such as the bank’s image and identified the existence of market segments. Much of the current research efforts concentrate on segmenting the market into customer groups with different needs, buying styles and responses to promotions. Strategies are then developed to appeal to the identified segments.

Preview

Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.

Notes and references

  1. 1.
    P. Martineau, ‘Social Classes and Spending Behaviour’, Journal of Marketing, vol. 22 (Oct. 1958) pp. 121–30.CrossRefGoogle Scholar
  2. 6.
    W. T. Anderson, E. P. Cox and D. G. Fulcher, ‘Bank Selection Decision and Marketing Segmentation’, Journal of Marketing, vol. 40 (Jan. 1976) pp. 40–5.CrossRefGoogle Scholar
  3. 7.
    A. A. Pool, ‘Attitudes Towards Consumer Banking Packages: An Empirical Analysis’, Journal of Bank Research, vol. 7 (Spring 1976) pp. 88–92.Google Scholar
  4. 10.
    M. Badoc, ‘Banks’ New Marketing Wave’, European Research, vol. 2, no. 3 (Autumn 1974) pp. 88–93.Google Scholar
  5. 12.
    P. Kotler, Marketing Management: Analysis, Planning and Control, 4th edn (Prentice-Hall, 1980) ch. 9.Google Scholar
  6. 14.
    R. W. Haas and L. L. Berry, ‘Systems Selling of Retail Services’, Bankers’ Monthly (USA) vol. 139 (July 1972) pp. 276–83.Google Scholar
  7. 15.
    S. J. Levy, ‘Consumer Views of Bank Services’, Journal of Bank Research, vol. 4 (Summer 1973) pp. 100–4.Google Scholar
  8. 16.
    D. H. Robertson and D. N. Bellenger, ‘Identifying Bank Market Segments’, Journal of Bank Research, vol. 7, no. 4 (Winter 1977) pp. 21–30.Google Scholar
  9. 21.
    P. Martin, ‘Savings and Loans in New Submarkets — Search for Predictive Factors’, Journal of Market Research, vol. 4 (May 1967) pp. 184–90.CrossRefGoogle Scholar
  10. 22.
    L. Mathews and J. W. Slocum, ‘Social Class and Commercial Bank Credit Card Usage’, Journal of Marketing, vol. 33 (Jan. 1969) pp. 71–8.CrossRefGoogle Scholar
  11. 24.
    R. L. Fitts and J. B. Mason, ‘Marketing Segmentation Research — An Application to Bank Services’, Omega, vol. 5, no. 2 (1977) pp. 207–14.CrossRefGoogle Scholar
  12. 25.
    H. Geiger, ‘Standard Surveys for Analysing Local Bank Competition’, in The Use of Market Research in Financial Fields (ESOMAR, 1975) pp. 85–95.Google Scholar

Copyright information

© Arthur Meidan 1984

Authors and Affiliations

  • Arthur Meidan
    • 1
  1. 1.Sheffield UniversityUK

Personalised recommendations