IDEAS home Printed from https://ideas.repec.org/a/taf/servic/v19y1999i3p74-96.html
   My bibliography  Save this article

A Life Cycle Segmentation Approach to Marketing Financial Products and Services

Author

Listed:
  • Rajshekhar (Raj) G. Javalgi
  • PAUL DION

Abstract

State-of-the-art market segmentation is becoming an important strategic tool in the continuing evolution of the financial services industry. This article, focusing on a life cycle segmentation approach, indicates that the importance attributed to financial choice criteria and financial services varies as consumers pass through an orderly progression of life cycle stages. Thus, the results suggest that marketers in the financial services industry should adopt a life cycle marketing based system to more fully satisfy the needdwants of their customers.

Suggested Citation

  • Rajshekhar (Raj) G. Javalgi & PAUL DION, 1999. "A Life Cycle Segmentation Approach to Marketing Financial Products and Services," The Service Industries Journal, Taylor & Francis Journals, vol. 19(3), pages 74-96, July.
    • Handle: RePEc:taf:servic:v:19:y:1999:i:3:p:74-96
    DOI: 10.1080/02642069900000031
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1080/02642069900000031
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1080/02642069900000031?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. Derrick, Frederick W & Lehfeld, Alane K, 1980. "The Family Life Cycle: An Alternative Approach," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 7(2), pages 214-217, Se.
    2. Wagner, Janet & Hanna, Sherman, 1983. "The Effectiveness of Family Life Cycle Variables in Consumer Expenditure Research," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 10(3), pages 281-291, December.
    3. Murphy, Patrick E & Staples, William A, 1979. "A Modernized Family Life Cycle," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 6(1), pages 12-22, June.
    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. Bijmolt, T.H.A. & Paas, L.J. & Vermunt, J.K., 2003. "Country and Consumer Segmentation : Multi-Level Latent Class Analysis of Financial Product Ownership," Other publications TiSEM 4fa5ac68-96cf-47ca-bc95-b, Tilburg University, School of Economics and Management.
    2. D. F. Benoit & D. Van Den Poel, 2009. "Benefits of Quantile Regression for the Analysis of Customer Lifetime Value in a Contractual Setting: An Application in Financial Services," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 09/551, Ghent University, Faculty of Economics and Business Administration.
    3. John Hadjimarcou, 2012. "An Investigation Of Informational Versus Emotional Advertising Appeals During Life Transitions," International Journal of Management and Marketing Research, The Institute for Business and Finance Research, vol. 5(1), pages 55-65.
    4. Bijmolt, T.H.A. & Paas, L.J. & Vermunt, J.K., 2004. "Country and consumer segmentation : Multi-level latent class analysis of financial product ownership," Other publications TiSEM fb506162-d125-4091-9083-9, Tilburg University, School of Economics and Management.
    5. Bijmolt, T.H.A. & Paas, L.J. & Vermunt, J.K., 2003. "Country and Consumer Segmentation : Multi-Level Latent Class Analysis of Financial Product Ownership," Discussion Paper 2003-75, Tilburg University, Center for Economic Research.

    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. Ngwenya, Mthunzi A. & Paas, Leonard J., 2012. "Lifecycle effects on consumer financial product portfolios in South Africa: An exploratory analysis of four ethnic groups," Journal of Economic Psychology, Elsevier, vol. 33(1), pages 8-18.
    2. Bojanic, David C., 2011. "The impact of age and family life experiences on Mexican visitor shopping expenditures," Tourism Management, Elsevier, vol. 32(2), pages 406-414.
    3. Holbrook, Morris B. & Schindler, Robert M., 1996. "Market segmentation based on age and attitude toward the past: Concepts, methods, and findings concerning nostalgic influences on customer tastes," Journal of Business Research, Elsevier, vol. 37(1), pages 27-39, September.
    4. John Hadjimarcou, 2012. "An Investigation Of Informational Versus Emotional Advertising Appeals During Life Transitions," International Journal of Management and Marketing Research, The Institute for Business and Finance Research, vol. 5(1), pages 55-65.
    5. Jing Jian Xiao & Rui Yao, 2011. "Consumer Debt Delinquency over Life Cycle Stages," NFI Working Papers 2011-WP-18, Indiana State University, Scott College of Business, Networks Financial Institute.
    6. Matthias Pannhorst & Florian Dost, 2022. "A Life-Course View on Ageing Consumers: Old-Age Trajectories and Gender Differences," Applied Research in Quality of Life, Springer;International Society for Quality-of-Life Studies, vol. 17(2), pages 1157-1180, April.
    7. Linwei Wang & Yixin Hu & Rong Kong, 2023. "The Impact of Bancassurance Interaction on the Adoption Behavior of Green Production Technology in Family Farms: Evidence from China," Land, MDPI, vol. 12(5), pages 1-26, April.
    8. Raunikar, Robert & Huang, Chung-Liang, 1984. "Characteristics of Fluid Milk Expenditure Patterns in the Northeast Region," Journal of the Northeastern Agricultural Economics Council, Northeastern Agricultural and Resource Economics Association, vol. 13(1), pages 1-6, April.
    9. Sarial-Abi, Gülen & Gürhan-Canli, Zeynep & Kumkale, Tarcan & Yoon, Yeosun, 2016. "The effect of self-concept clarity on discretionary spending tendency," International Journal of Research in Marketing, Elsevier, vol. 33(3), pages 612-623.
    10. Paas, Leonard J. & Bijmolt, Tammo H.A. & Vermunt, Jeroen K., 2007. "Acquisition patterns of financial products: A longitudinal investigation," Journal of Economic Psychology, Elsevier, vol. 28(2), pages 229-241, April.
    11. Sven Laumer & Andreas Eckhardt & Natascha Trunk, 2010. "Do as your parents say?—Analyzing IT adoption influencing factors for full and under age applicants," Information Systems Frontiers, Springer, vol. 12(2), pages 169-183, April.
    12. Tangeland, Torvald & Aas, Øystein, 2011. "Household composition and the importance of experience attributes of nature based tourism activity products – A Norwegian case study of outdoor recreationists," Tourism Management, Elsevier, vol. 32(4), pages 822-832.
    13. Robert W. Palmatier & Andrew T. Crecelius, 2019. "The “first principles” of marketing strategy," AMS Review, Springer;Academy of Marketing Science, vol. 9(1), pages 5-26, June.
    14. Lee, Euehun & Moschis, George P. & Mathur, Anil, 2001. "A study of life events and changes in patronage preferences," Journal of Business Research, Elsevier, vol. 54(1), pages 25-38, October.
    15. GwanSeon Kim & Tyler Mark, 2023. "What factors make consumers in the USA buy hemp products? Evidence from Nielsen consumer panel data," Agricultural and Food Economics, Springer;Italian Society of Agricultural Economics (SIDEA), vol. 11(1), pages 1-19, December.
    16. Min Cui & Jizhou Zhang & Xianli Xia, 2022. "The Relationship between Child Rearing Burden and Farmers’ Adoption of Climate Adaptive Technology: Taking Water-Saving Irrigation Technology as an Example," Agriculture, MDPI, vol. 12(6), pages 1-22, June.
    17. Pannhorst, Matthias & Dost, Florian, 2019. "Marketing innovations to old-age consumers: A dynamic Bass model for different life stages," Technological Forecasting and Social Change, Elsevier, vol. 140(C), pages 315-327.
    18. Lin LIANG & Shanlang LIN & Zuoxiong ZHANG, 2015. "Effect of the family life cycle on the family farm scale in Southern China," Agricultural Economics, Czech Academy of Agricultural Sciences, vol. 61(9), pages 429-440.
    19. Feng Zhang & Chung L. Huang & Biing-Hwan Lin & James E. Epperson, 2008. "Modeling fresh organic produce consumption with scanner data: a generalized double hurdle model approach," Agribusiness, John Wiley & Sons, Ltd., vol. 24(4), pages 510-522.
    20. P.B. McLeod & J.R. Ellis, 1981. "Alternative Approaches to the Family Cycle in the Analysis of Housing Choice," Economics Discussion / Working Papers 81-07, The University of Western Australia, Department of Economics.

    More about this item

    Statistics

    Access and download statistics

    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:taf:servic:v:19:y:1999:i:3:p:74-96. 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: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/FSIJ20 .

    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.