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Market Segmentation (Common Variables (1) Geographic (Closely related with…

- - - - A regional branch is to service a specific region.
      - Example: DBS Beijing branch in Beijing.
    - - Enables the bank to provide convenience of access to target customers by assisting seller to position retail outlets in the most appropriate locations.
      - Identify customer needs based on the consumers' own location.
    - - Less effective when dealing with large business clients that have many locations
      - With advancements in electronic banking, the need for convenient branches has decreased.
  - - - Life cycle
      - Age
      - Income
      - Gender
  - - - Lifestyle : Distinctive ways of living that are reflected in activities and interests
      - Personality: Based on self images and self concepts
    - - Seeking security
        
        This segment will seek insurance products from well-known and credible insurance companies.
      - Services targeted at financing country club memberships, and credit cards that provide art tours and unusual travel packages.
  - - - User status
        
        example :pencil2:
        
        Non-user
        
        Ex-user
        
        First-time user
      - Usage levels
        
        example :pencil2:
        
        Occasional
        
        light
        
        medium
        
        heavy
      - Different benefits (Benefit Segmentation)