MARKET SEGMENTATION OF BANKING SECTOR
An organization is supposed to enter to the changing needs of customers; it is natural that all customers have their own likes and dislikes. They have some uniqueness which throws a big imprint on their lifestyles. This makes the task of understanding a bit difficult. It has the context that we go through the problem of market segmentation in the banking service.
In the banking services, the banking organizations are supposed to satisfy different types of customers living in different segments. The segmentation of market makes the task of bank professionals easier. If the market segmentation is done in a right fashion, the task of satisfying the customers is simplified considerably. The modern marketing theories advocate the formulation of marketing policies and strategies for each segment which an organization plans to solicit.
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