TY  - JOUR
AB  - Driven by changes in the regulatory environment and pressures on product
profitability, market segmentation is increasing in importance as a
competitive weapon. However, still too much emphasis is being placed on
descriptive studies which do not sufficiently explain differences in
financial services consumer behaviour. Reports the results of a
qualitative study which attempts to offer a more detailed explanation of
financial services consumer behaviour. Investigates consumer‐perceived
knowledge, confidence and level of involvement in dealing with financial
services, and analyses the impact of these factors on financial services
usage. Four segments are identified (Apathetic Minimalists, Capital
Accumulators, Cautious Investors, and Financially Confused) which differ
in terms of their financial services usage. The results also suggest
that consumer‐perceived knowledge and confidence have an impact on the
level of potential profitability which can be expected from the segments
identified. Further work is being conducted to substantiate this
evidence.
VL  - 12
IS  - 8
SN  - 0265-2323
DO  - 10.1108/02652329410069010
UR  - https://doi.org/10.1108/02652329410069010
AU  - Harrison Tina S.
PY  - 1994
Y1  - 1994/01/01
TI  - Mapping Customer Segments for Personal Financial Services
T2  - International Journal of Bank Marketing
PB  - MCB UP Ltd
SP  - 17
EP  - 25
Y2  - 2024/04/16
ER  -