Marketing of Financial Services: Market Segmentation

BANKING DIPLOMA EXAMINATION

Banking Diploma Courses in Bangladesh under The Institute of Bankers, Bangladesh (IBB)

Marketing of Financial Services-JAIBB

Market Segmentation

A.  Levels of market segmentation.

1.  Segment marketing :     

2.  Niche marketing :

3.  Local marketing :

4.  Individual marketing :                  (To Get Download Option Click Read More)

B.  Pattern of market segmentation.

1.  Homogeneous preferences :

2.  Diffused preference :

3.  Clustered preference :

C.  Market segmentation procedure.

1.  Survey stage :

2.  Analysis stage :

3.  Profiling stage :

D.  Basis for segmenting consumer markets.

1.  Geographic segmentation :

2.  Demographic segmentation :

(a)  Age and life - cycle stage :

(b)  Gender :

(c)  Income :

(d)  Generation :

(e)  Social class :

3.  Psychological segmentation :

(a)  Lifestyle :

(b)  Personality :

(c)  Values :

4.  Behavioural segmentation :

(a)  Occasions :

(b)  Benefits :

(c)  Users status :

(d)  Usage rate :

(e)  Loyal status :

            (i)         Hard core loyals :

            (ii)        Split loyals :

            (iii)       Shifting loyals :

(iv)         Switchers :

(f)  Buyer readiness stage :

(g)  Attitude :

5.  Multi – attribute segmentation ( Geoclustering ) :

6.  Targeting multiple segments :

E.  Major segmentation variable for business markets.

1.  Demographic :

(a)  Industry :

(b)  Company size :

(c)  Location :

2.  Operating variables :

(a)  Technology :

(b)  User or nonuser status :

(c)  Customer capabilities :

3.  Purchasing approach :

(a)  Purchasing - function organization :

(b)  Power structure :

(c)  Nature of existing relationship :

(d)  General purchase policies :

(e)  Purchasing criteria :

4.  Situational factors :

(a)  Urgency :

(b)  Specific application :

(c)  Size of order :

5.  Personal characteristics :

(a)  Buyer - seller similarity :

(b)  Attitude toward risk :

(c)  loyalty :

F.  Effective segmentation.

1.  Measurable :

2.  Substantial :

3.  Accessible :

4.  Differentiable :

5.  Actionable :

G. Selecting the market segments.

1.  Single - segment concentration :

2.  Selective specialization :

3.  Product specialization :

4.  Market specialization :

5.  Full market coverage :

Market Segmentation