Segmentation of Bank Commercial Markets

Abstract

The bank commercial market is less homogeneous than the retail market which justifies the development of differentiated marketing activities to meet the distinct needs of subgroups of commercial clients. A two‐stage segmentation approach to the bank commercial market is presented. The objectives and resources of the bank with the associated costs/benefits of each segment determine the choice of target segments and whether the second stage will be performed. The first stage of the procedure is illustrated with the use of geographical statistical data and internal data on commercial clients to perform a detailed analysis of the commercial coverage of the bank. Additional data used to illustrate the second stage are the perceived importance and performance of financial services by the banks′ commercial clients. Limitations and benefits of the procedure for marketing decision making are presented in the conclusion.

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