UNSPECIFIED (1998) Implementing market segmentation strategies in UK personal financial services: Problems and progress. SERVICE INDUSTRIES JOURNAL, 18 (2). pp. 45-63. ISSN 0264-2069

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Abstract

Most academic research into segmentation in the financial services industry has focused on alternative analytical approaches and base variables; relatively little attention has been paid to implementation issues, despite management's concerns about the practicality and usefulness of segmentation. Some significant barriers to effective implementation of segmentation have been encountered by major financial services firms. This paper reviews these barriers, and finds that weaknesses in customer data, and the importance of a good fit with the company's distribution channels, can limit the range of segmentation approaches that a company can adopt, while the organisational context, structure and strategic positioning can fail to support effective segmentation. The paper also considers some of the newer entrants to the financial services industry, and finds that they are making progress in all of these areas.

Item Type:	Journal Article
Subjects:	H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management
Journal or Publication Title:	SERVICE INDUSTRIES JOURNAL
Publisher:	FRANK CASS CO LTD
ISSN:	0264-2069
Date:	April 1998
Volume:	18
Number:	2
Number of Pages:	19
Page Range:	pp. 45-63
Publication Status:	Published
URI:	http://wrap.warwick.ac.uk/id/eprint/15757

Data sourced from Thomson Reuters' Web of Knowledge

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