Consumer Segmentation Strategies for Financial Services PPT

This PPT slide, part of the 159-slide Strategy Frameworks Manual PowerPoint presentation, focuses on the concept of attitudinal or behavioral segmentation, particularly in the context of financial services products. It begins by highlighting the importance of segmentation in tailoring product characteristics and marketing strategies to distinct consumer groups. Traditional demographic methods are critiqued for their limitations, as they fail to capture the nuances of consumer behavior and motivations.

The slide outlines how attitudinal or behavioral segmentation categorizes consumers based on their attitudes towards a product, both at the point of purchase and afterward. This approach allows companies to plot different consumer segments against key behavioral parameters, facilitating a deeper understanding of consumer needs. Identifying these segments enables businesses to assess the attractiveness of each group, considering factors like potential profitability, market size trends, and the ease of targeting based on existing competencies.

Four specific consumer segments are illustrated in a quadrant format: "Pressured Providers," "Confident Investors," "Traditionalists," and "Free Thinkers." Each segment is defined by their interest in the product and their expertise in buying. For example, "Pressured Providers" have a strong need for the product, but lack the time to conduct thorough research, suggesting that a more advisory marketing approach could be effective. This segmentation framework provides actionable insights for targeting and tailoring marketing strategies to meet the distinct needs of each group, ultimately enhancing engagement and conversion rates.

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