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Introduction
The research group reviews bank segmentation
practices and self-concept theory to propose the integration
of psychographic and behavioural approaches to segmentation
for this market. The proposed research addresses the fundamental
problem of market segmentation in the service context and
employs a combination of psychographic and behavioural segmentation
approach to the operational problem of segmenting financial
services customers on the basis of the consumer's self-concept
and its relationship to the perceived brand image. Self-concept
and image congruence theory will be examined in relation to
physically similar service offerings with different brand
images.
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The Greek banking market is chosen as the market sector to
be used, because it provided an opportunity for such a study
to be carried out. It is envisaged that using brand image
results in relation to respondents' self-image should offer
deeper insights regarding the consumer's motives and desires
while choosing a bank. The interaction of consumer self-image
and perceived brand-image is expected to moderate the consumer's
decision to favour a bank. This will serve as the basis for
the proposed segmentation process.
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