Market Segmentation Of Maybank

| According to the text, market segmentation is defined as identifying groups of consumers based on their common needs.Answer

The banks approach starts out that just about every other business in Singapore is dealing with or has an account with OCBC bank. The reason why the bank is so successful is because the bank was built and run on stick business policies and has active talent management and development (Shukla-Pandey, 2012).

Commonwealth Bank has a strong presence in Australian financial services industry and has the largest customer base of any

What Is Market Segmentation? Market segmentation is a way of dividing the market into groups of consumers/customers which share similar features

According to Horner and Swarbrooke (2005: 39), Segmentation may be defined as the process of dividing a whole market into subgroups or segments for marketing management purposes. Market segmentation is the division of the overall market for a service into various categories with common characteristics. In response to different segments, organisations facilitate the available resources to achieve greater efficiency, in order to satisfy specific needs of customers.

Market segmentation: The process of dividing a market into distinct groups of buyers who might require separate production or marketing mixes (Wells, Burnett, & Moriarty, 2006).

Market segmentation is a marketing strategy that involves dividing a broad target market into subsets of consumers who have common needs and applications

“ Our mission is to be a Premier Bank in the Asia- Pacific region, committed to providing Quality Products and Excellent Customer Service.”

What is Market Segmentation? According to Investopedia (n.d), market segmentation is a term used in marketing that refers to the aggregating of a potential buyer into groups, or segments, that share common needs and would respond similarly to a particular action in marketing. By utilizing market segmentation it enables Victoria’s Secret to target different categories of consumers who recognize the full value of certain products and services differently from one another. Furthermore, market segmentation is an extension of market research for the purposes of identifying targeted groups of consumers in order to tailor products and branding in a way that it is attractive to that group. There are three general criteria used to identify different market segments: homogeneity, distinction and reaction (Investopedia, n.d).

As every customer has unique needs and expectations towards certain products, the ultimate goal of market segmentation is to organize customers into groups which allows targeting of customers with similar needs of and response to the products. The key is to minimize differentiation within each segment

“We aim to become a super regional bank. This involves growing our presence in the Asia pacific region and sourcing 25-30% of earnings from our Asia Pacific Europe and America division by 2017, while also being very focused on growth in our core domestic businesses in Australia and New Zealand.”

Over the years, it established a network of offices, which were strategically located throughout the island to serve the needs of business and industry. The bank had progressively increased the range of its services in line with the dynamic growth and development of Singapore as an international business and financial centre.

Market segmentation is an approach used by a company to select their target market and provide data for a marketing plan. “Market segmentation consist of a two-step process; naming broad product markets and segmenting these broad products-markets in order to select target markets and develop suitable marketing mixes” (Perreault, Cannon, & McCarthy, 2014, p.97). There are 4 categories pertaining to market segmentation; behavioral, geographic, demographic, and behavioral.

Market segmentation was to dividing a market into distinct groups of buyers with different needs, charactistics or behaviour who might require separate products or marketing mixes, the company will first

As public biggest airline company in Singapore, Singapore Airline has several key business activities ranging from engineering, flight services until cargo services, but their main activity is more on flight services. Singapore Airline is relying heavily on Singapore financial system to operate their business. One of the evidence is that SIA benefiting from the financial market as the company’s share has been listed in SGX. As stated on Singapore Airline Annual Report, SIA has a cash surplus for the past 10 years on average………. Singapore financial system has help this company to grow and develop rapidly by their financial market, institutions and instrument, which will be discussed further later.