IDEAS home Printed from https://ideas.repec.org/a/pal/jofsma/v21y2016i3d10.1057_s41264-016-0004-3.html
   My bibliography  Save this article

Demographic product segmentation in financial services products in Australia and New Zealand

Author

Listed:
  • Gavin Lees

    (Victoria University)

  • Maxwell Winchester

    (Victoria University)

  • Sidath Silva

    (Victoria University)

Abstract

Segmentation and targeting are cited as being a core part of marketing strategy for any organisation. While there has been much written on brand segmentation, product segmentation research has not been common. This paper examines whether different types of customers buy different banking products. A sample of 52,000 Australian households and 12,000 in New Zealand from the Roy Morgan Single Source Survey was utilised to profile users of different banking products on offer. The results indicated that there is some segmentation or partitions evident in a limited number of banking products; for the most part there was little difference in customer profile across comparable products offered by Australian and New Zealand banks.

Suggested Citation

  • Gavin Lees & Maxwell Winchester & Sidath Silva, 2016. "Demographic product segmentation in financial services products in Australia and New Zealand," Journal of Financial Services Marketing, Palgrave Macmillan, vol. 21(3), pages 240-250, September.
    • Handle: RePEc:pal:jofsma:v:21:y:2016:i:3:d:10.1057_s41264-016-0004-3
    DOI: 10.1057/s41264-016-0004-3
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1057/s41264-016-0004-3
    File Function: Abstract
    Download Restriction: Access to the full text of the articles in this series is restricted.
    File URL: https://libkey.io/10.1057/s41264-016-0004-3?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Winchester, Maxwell & Lees, Gavin, 2013. "Do radio stations in New Zealand target successfully?," Australasian marketing journal, Elsevier, vol. 21(1), pages 52-58.
    2. A. S. C. Ehrenberg & J. A. Bound, 1993. "Predictability and Prediction," Journal of the Royal Statistical Society Series A, Royal Statistical Society, vol. 156(2), pages 167-194, March.
    3. Patrick Barwise, 1995. "Good Empirical Generalizations," Marketing Science, INFORMS, vol. 14(3_supplem), pages 29-35.
    4. Mark Uncles & Andrew Ehrenberg & Kathy Hammond, 1995. "Patterns of Buyer Behavior: Regularities, Models, and Extensions," Marketing Science, INFORMS, vol. 14(3_supplem), pages 71-78.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Lova Rajaobelina & Line Ricard, 2021. "Classifying potential users of live chat services and chatbots," Journal of Financial Services Marketing, Palgrave Macmillan, vol. 26(2), pages 81-94, June.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Zachary Anesbury & Maxwell Winchester & Rachel Kennedy, 2017. "Brand user profiles seldom change and seldom differ," Marketing Letters, Springer, vol. 28(4), pages 523-535, December.
    2. Uncles, Mark D. & Kwok, Simon, 2013. "Designing research with in-built differentiated replication," Journal of Business Research, Elsevier, vol. 66(9), pages 1398-1405.
    3. Jung, Sang-Uk & Zhu, John & Gruca, Thomas S., 2016. "A meta-analysis of correlations between market share and other brand performance metrics in FMCG markets," Journal of Business Research, Elsevier, vol. 69(12), pages 5901-5908.
    4. Hubbard, Raymond & Lindsay, R. Murray, 2013. "From significant difference to significant sameness: Proposing a paradigm shift in business research," Journal of Business Research, Elsevier, vol. 66(9), pages 1377-1388.
    5. Bogomolova, Svetlana & Anesbury, Zachary & Lockshin, Larry & Kapulski, Natasha & Bogomolov, Tim, 2019. "Exploring the incidence and antecedents of buying an FMCG brand and UPC for the first time," Journal of Retailing and Consumer Services, Elsevier, vol. 46(C), pages 121-129.
    6. Dawes, John, 2020. "The Natural Monopoly effect in brand purchasing: Do big brands really appeal to lighter category buyers?," Australasian marketing journal, Elsevier, vol. 28(2), pages 90-99.
    7. David Hand & Niall Adams, 2000. "Defining attributes for scorecard construction in credit scoring," Journal of Applied Statistics, Taylor & Francis Journals, vol. 27(5), pages 527-540.
    8. Krishnamurthy, Sandeep & Kucuk, S. Umit, 2009. "Anti-branding on the internet," Journal of Business Research, Elsevier, vol. 62(11), pages 1119-1126, November.
    9. Nenycz-Thiel, Magda & Sharp, Byron & Dawes, John & Romaniuk, Jenni, 2010. "Competition for memory retrieval between private label and national brands," Journal of Business Research, Elsevier, vol. 63(11), pages 1142-1147, November.
    10. Lindsay, R. Murray, 1995. "Reconsidering the status of tests of significance: An alternative criterion of adequacy," Accounting, Organizations and Society, Elsevier, vol. 20(1), pages 35-53, January.
    11. Hubbard, Raymond & Lindsay, R. Murray, 2013. "The significant difference paradigm promotes bad science," Journal of Business Research, Elsevier, vol. 66(9), pages 1393-1397.
    12. Salisu, Afees A. & Olaniran, Abeeb & Tchankam, Jean Paul, 2022. "Oil tail risk and the tail risk of the US Dollar exchange rates," Energy Economics, Elsevier, vol. 109(C).
    13. Vipul Pare & John Dawes, 2012. "The persistence of excess brand loyalty over multiple years," Marketing Letters, Springer, vol. 23(1), pages 163-175, March.
    14. Michael A. Clemens, 2017. "The Meaning Of Failed Replications: A Review And Proposal," Journal of Economic Surveys, Wiley Blackwell, vol. 31(1), pages 326-342, February.
    15. Uncles, Mark D. & Kwok, Simon, 2009. "Patterns of store patronage in urban China," Journal of Business Research, Elsevier, vol. 62(1), pages 68-81, January.
    16. Giang Trinh & Jenni Romaniuk & Arry Tanusondjaja, 2016. "Benchmarking buyer behavior towards new brands," Marketing Letters, Springer, vol. 27(4), pages 743-752, December.
    17. Kumar, V. & Pozza, Ilaria Dalla & Ganesh, Jaishankar, 2013. "Revisiting the Satisfaction–Loyalty Relationship: Empirical Generalizations and Directions for Future Research," Journal of Retailing, Elsevier, vol. 89(3), pages 246-262.
    18. Hauser, John R., 1996. "The role of mathematical models in the study of product development," Working papers #148-96. Working paper (S, Massachusetts Institute of Technology (MIT), Sloan School of Management.
    19. Baker, Bradley J. & McDonald, Heath & Funk, Daniel C., 2016. "The uniqueness of sport: Testing against marketing's empirical laws," Sport Management Review, Elsevier, vol. 19(4), pages 378-390.
    20. Trinh, Giang & Corsi, Armando & Lockshin, Larry, 2019. "How country of origins of food products compete and grow," Journal of Retailing and Consumer Services, Elsevier, vol. 49(C), pages 231-241.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pal:jofsma:v:21:y:2016:i:3:d:10.1057_s41264-016-0004-3. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.palgrave.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.