G.Ramasundaram, St. Joseph’s College of Engineering, Chennai, India
Ramachandra Aryasri, Jawaharlal Nehru Technical University, Hyderabad, India
M.Sakthivel Murugan, D.B. Jain College. Chennai, India

Serving and satisfying the whole market is impossible practically. In a competitive world, bank has to find out niche submar- ket and develop a strategy to satisfy their needs. As a result, loyalty of customers and profitability of bank should be enhanced. There are many variables used as base for segmenting the heterogeneous market into homogeneous submarkets. Among them, lifestyle is one of the most important variables. In retail banking especially, in retail credit market, lifestyle plays major role in the behavior of consumers. So, this study attempted to segment the customers of retail credit on the basis of their lifestyle by conducting survey in Chennai city. Applying factor and cluster analysis, the total respondents was divided into three lifestyle segments and examined the differences between with special focus on behavior.

Keywords: Market segmentation, Life style , Retail banking, Commercial banking

Suggested citation: Ramasundaram, G, et al (2009) Life Style a Core Segmenting Criteria – Retail Banking Industry In India. Skyline Business Journal, Volume 5, No 2, pp 52-60.

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Ramasundaram, G, et al (2009) Life Style a Core Segmenting Criteria – Retail Banking Industry In India. Skyline Business Journal, Volume 5, No 2, pp 52-60.