Knowing your customers: the key to marketing in the '90s.: An article from: Bank Marketing

This digital document is an article from Bank Marketing, published by Bank Marketing Assn. on August 1, 1994. The length of the article is 1836 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

From the supplier: Banks can make relationship marketing programs work for them only if they develop a deeper understanding of their customers. Their knowledge of their clients must go beyond the latter's ages and addresses, but must extend to their attitudes and preferences. One way of getting to know bank customers is by conducting segmentation studies. Although these studies are costly, are time consuming and often generate data that cannot be acted upon, the concept of dividing and re-dividing the customer base is a basic component of marketing. Segmentation truly serves its purpose if it identifies cohesive groups so that they can be targetted with greater accuracy and at lesser cost. A more powerful tool for targeting customers is 'multidimensional segmentation' which is a combination of attitudinal segmentation and demographikc and behavioral research. It provides banks with a useful market structure and a realistic market sizing.

Citation Details
Title: Knowing your customers: the key to marketing in the '90s.
Author: Kathy Knight
Publication:Bank Marketing (Magazine/Journal)
Date: August 1, 1994
Publisher: Bank Marketing Assn.
Volume: v26 Issue: n8 Page: p61(3)

Distributed by Thomson Gale