Retail banking market segmentation based on the expected benefits of Bank Mellat customers

Document Type : Research Paper


1 Assistant Prof., Faculty of Management, Tehran University, Tehran, Iran

2 Associate Prof. Faculty of Management, Tehran University, Qom, Iran

3 Assistant Prof., Faculty of management, Tehran University, Tehran, Iran

4 MSc. Faculty of Management, Tehran University, Qom, Iran

5 Ph.D. Candidate, Faculty of Management, Tehran University, Karaj, Iran


Goal of any enterprise is to be more efficient and gain more
benefits. Market segmentation in most areas, particularly retail banking
industry, is a strategic tool for optimum allocation of resources and as a
result achieving this objective. This study with the purpose of retail
banking market segmentation is based on the benefits expected. To
accomplish this goal, In addition to field studies through exploratory
interviews with 43 costumers and staff experts in several banks, 166
benefits have been extracted from the studies. Through experts’
questionnaire and distribution of pre-test to 60 persons, these benefits
have been reduced to 50 questions. After verifying the reliability and
validity by winy cluster sampling method and Cochran formula, the
sample size has been determined up to 669. Then through factor analysis,
9 factors and through cluster analysis 4 parts have been found. The largest
part of the sector was identified as the third sector. In this section, such
factors as employee and trust, convenience, ease of service, and
technology are important distinctions. Finally, in accordance with section
behavioral characteristics, appropriate marketing strategy has been


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