The influence of psychographic segmentation on customers’ perception of banks’ market performance in Nigeria.

The influence of psychographic segmentation on customers’ perception of banks’ market performance in Nigeria.

Author by Dr. Margret Kabuoh

Journal/Publisher: International Journal Of Advanced Studies In Ecology, Development & Sustainability

Volume/Edition: 4

Language: English

Pages: 44 - 57

Abstract

Bank customers are the reason of being in business and there is every need to get them satisfied by positioning products/ services that will meet their needs. When these needs are not met, customers’ perception of the bank may be negative and this results to switching to other banks leading to poor performance. This paper seeks to assess the influence of psychographic segmentation on perception of bank customers regarding their performance. . The study took a theoretical approach and reviews on study variables on the conceptual, theoretical and empirical studies  from journals, textbooks, internets and other available materials placed better option. The study concluded that psychographic     segmentation strategy has a significant influence on customers’ perception with regards to market performance in the banking sector. Therefore, the study recommends that banks are to imbibe   customer oriented programs, customer relationship management among others as to uphold psychographic segmentation which will capture positive customers’ perception and enhanced market performance.


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