PRINCIPLES AND MODELS OF CONSUMER SEGMENTATION IN THE BANKING PRODUCTS AND SERVICES MARKET

Abstract

The process of segmenting consumers ofbanking products and services connects withconducting marketing research. In the processof customer segmentation it is necessary to identify the factors that affect them. Identifi cation of competitive and consumer factors, in particular, is necessary for marketing decision making andthe development of the segment coverage strategy to reach a segment at all stages of planningmarketing activities and evaluating its effectiveness. After determining the basic segments on macro and micro levels the segment coveragestrategies are developed that should be based onthe results of the segmentation map construction.Banking institutions that implement informationtechnology to facilitate collecting and processingcustomer data, such as CRM-systems, receivemore opportunities to identify the client and provide a competitive position in the market.