Aprendizaje de forex pdf
The complexities involved in market segmentation processhave made it an exacting activity. According to Griffith and Pol, theprocess involves greater customer variability, problems linked with the identification of the key differences between group of customers and multiple product applications [ 19 ].
Several academic pundits and market researchers have proposed myriad criteria that need to be met during segmentation process. Alfansi and Sergeant [ 20 ], in their studies came up with 6 criteria that must be met after they reviewed the works of scholars such as Frank et al. Alfansi and Sergeat criteria were based on accessibility, actionability, stability, responsiveness, sustainability and identifiability [ 20 ]. Wedel and Kamakura provided the most pertinent segmentationapproach for financial and banking service sector.
Scholars such as Dickens and Chappel et al. However, in the context of financialand banking sector, a number of research studies had revealed thatthere are differences in terms of purchasing and demographics.
Thoughmany scholars view demographic variables as too small, Alfansi andSergeant maintained that demographic variable is very importantand popular in marketing segmentation due to the following reasons; i easy and possible to conjunct demographic variables with other variables ii can easily be obtained Figure 3 [ 20 , 32 ]. In the banking sector, segmentation is mostly limited to categoriesof commercial corporate , and retail consumers. Commercial corporate customers are normally distinguished based on the sectorthey are affected and involved or based on their geographical range ofactivities.
Meidan and Harrison argued on their part that demographiccriteria such as income, age, profession, or wealth are very important forpersonal retail banking and credit card segment [ 33 , 34 ].
To talk aboutproduct-specific criteria under observable classification, Khermouch etal. Contrary to the above assessments, Evans et al.
These scholars argued that general variables under unobservablesegmentation classification such as personal values, personality,lifestyle or psychographic bases should be considered when segmentingmarket for banking companies. Harrison concluded his study with areas of four 4 segments and theyare; i capital accumulators, ii financially confused, iii cautiousinvestors and iv apathetic minimalists. Segmentation practices havebenefited and proved its usefulness to many sectors and organisations.
To segment financial service markets, a firm must use marketinformation ascertained from key customers concerning situationrelatedvariables criteria and product.
These are grouped assegmentation bases, and they include; psychological criteria such aswhy does my market behaves the way it behaves? This reallyshows that important considerations should be made when choosing the differing bases for market segmentation.
Doyle observed the differing classification of segmentation basesand argued that market segmentation deals with a homogenous groupof customers who react differently to distributional communication,promotion, pricing and other marketing mixes variables.
When thesevariables criteria are applied, the impact is that it affords the marketersat the bank to dichotomies portions of the market from one customer needs to another to achieve corporate profit target [ 44 ].
They are break-downmethod and built-up method. Freytag and Clarke argued that thebreakdown method is more recognised when segmenting consumermarkets while built-up method is more recognised when givinggeneral analysis based on identification of similarities.
The built-up type is customer oriented as it seeks to put more emphasis on customer needs. According to Wind, the goal of market segmentation practices is to solve the conflict between the intentions of banks or any other organisation to satisfy their customers need; been it individual or group [ 17 ].
He further argued that it can also be sued to allocate marketing resources economically in time of limited resources Table 1. For successful bank service offerings, a segmentation practicesplays a major role. It is a part of the bigger marketing plan that allowsmarketing managers to separate, identify and evaluate the layers of amarket to design a marketing mix. Market Segmentation plan helpscompanies to focus on all the needs and wants of their customers.
However, it varies depending on thetype of business and the objectives in which it focuses. Segmentation ofbanking products and services in Colombia has followed the trend ofconsumer banking segment, commercial banking segment and creditcard segment with emphasis on psychographic, geographic, socioculturalbehaviour and demographic. Abel argued that the techniqueof partitioning a market discloses strategic and profit opportunities for new competitors to challenge market leaders in the system.
Before designing the segmentation plan, the marketing managerneeds to accumulate enough information about the product-usersvariables; considering the geographical location of the business,its demography, and psychographic so that they can target theright market segment with appropriate strategy. Through marketsegmentation, financial institutions like the banks can be able toknow the purchasing habits, needs, lifestyle, age and interests of theirconsumers and take them into consideration when designing productsand services.
The practices enable the industry to increase transparencythrough regulating the disclosure of information; albeit at the lowerlevel. The essence of this is to retain customers, promote customerloyalty and satisfaction. Market segmentation practices allow banks toconcentrate on serving the many needs of a specific customer group. The diagram summarises the benefits banks derive from practising market segmentation Figure 4. Bank Service Offerings can be defined as the services renderedto customers to satisfy their needs.
Some of these services couldbe products or services related to banking such as leasing, cashmanagement, investment banking, brokerage, factoring, portfolio,risk management, and trust services. However, bank service offeringsdiffer from one geographical location to the other. No wonder it is the largest banking company with widest market share in Colombia. Tier-1Capital Ratio is designed to measure the financial strength financial performance of banks.
Market segmentation practices do not only help banks to reposition their brand or develop new products but also ensure better communication between the two parties, thus, the bank and its customers.
Bain and Company argued that making loyalty pay to its full potential require banks to master the five elements of reinforcing their brand, segmenting and targeting customers, transforming customer experience, enhancing product proposition, and improving scale capabilities. These five elements can effectively be done when there is proper marketing segmentation Figure 5. Making loyalty pay to its full potential requires mastering five elements. In the financial and banking industry, incidences ofrising overheads expenditure are seen to be linked or related withsegmentation practices.
Segmentation practices under the bankingsector can only be successful when marketers are able to identifyindividual similarities and differences within segments that haveimportant effect on buying patterns. In this case, marketers need tosegment the business environment by identifying group of customerswith common interest in terms of gender male or female , age, status, business, and aged. This will give the firm the chance to position their productsor brand by creating concept to appeal to their target market.
Thereare many theoretical models abound for the design of a successfulsegmentation plan in bank product and service offering. Scholars suchas Cardozo and Wind identified a three-stage deign and Hofstede andSteenkamp as well as Petit and Brassington also designed a two-stageprocess based on the above characteristics [ 1 , 17 , 45 ].
Colombian banksmostly embark on segmentation with the aim of increasing marketshare, maximising profit, positioning products and finally enhancing turnover. Petit and Brassington advocated that ideal market segmentationmust go through at least two stages; namely; micro and macro segmentsstages.
According them, while the micro-segments have substantialinfluence on the decision-making features, macro-segments haveinfluence on buying situations [ 45 ]. From the print view of Ferreland Pride market segmentation can be classified into consumer andindustrial Commercial segments [ 46 ]. Though these theorists differon certain points, there are basic tenets common to all and that is,to achieve the same objective based on location, size and usage rate adopted by Cardozo and Wind [ 17 ].
Most of the focuses of these theorists are meant to distinguishbetween specific individual customer needs, and the requirementfor target market. Thisimplies that every market segment has its own features and strengths. After global economic downturns, Colombia banks haveshown a strong increase since by increasing their bank total asset The financial industryhas grown in all segments with mortgage lending and consumerbanking overtaking commercial lending.
Banks have really benefitedfrom effective market segmentation to increase their return on investment, tier-1 capital, return on assets and banking total asset. Customer retention ability is defined as the ability of a bank to retainits customers based on the assessment of product or service quality. Thisis very important because satisfied retained customers tend to lowercost cost less , make valuable reference to new potential customersto increase banks market share, and spend more.
However, banks canonly perform well and satisfy their customers when there is proper market segmentation. Market segmentation can help banks to efficiently match their limited resources to target the market requirements and resource to reduce cost. It paves way to embrace consumer requirement that tends to increase customer satisfaction and retention.
Banks can improve their customer retention through segmentation practices. Sylvia and Peter perceived that the ability of a bank to meet the needs of its customers such as depositors and borrowers , stakeholders, shareholders, and employees show the performance level of the company [ 51 ].
In Colombia, the financial sector is quite profitable and credit quality is very strong due to the sound and healthy balance sheet from customers [ 5 ]. Adewuyi propounded that customer loyaltyto a bank service and product offering can be developed throughemployee and customer relation, quick delivery services, closeness tocustomer business outfits, corporate image built overtime, accessibility and referral, as well as relaxed account opening formalities [ 52 ].
Although market behaviour towards stock price in theory, showsthe performance level and how valuable the company is at the stockmarket, salient criteria needed for the calculation for banks in Colombiamight not be available.
And it is based on this assumption that madethe researcher to use Profitability Ratio and Tier-1 Capital Ratio asalternative indicators for market value and financial performance. According to Onaolapo et al.
They continuedthat the use of ratios on performance evaluation covers the size ofturnover, dividend or earnings per share, and return on capital profitmargin. This signifies that the profit after tax, net interest margin andinterest on income in the banking sector determines return on capital employed.
These were used as parameters tofind out the impact of market segmentation patterns on the operational performance of the selected banks in Colombia. The researcherexplores which approach suits best the attainment of purpose. These were used as parameters to showcase the impact of market segmentation patterns on the operational and financial performance of the selected banks in Colombia.
The variables for bank performance and segmentation targets like market share, profit and turnover, operating expenses, return on capital were all sourced from the annual reports of the five selected banks in Colombia. However, Tier-1 Capital Ratio was sourced from Bankers database.
Out of the 21 commercial banks explored in Colombia, five 5 ofthem constituting The criteria forthe selection of those five 5 banks were based on Tier 1 CapitalRatio and market share.
It is one of the most crucial indicators offinancial performance in banking. To test, analyse and measure the impacts of market segmentationpractices on the selected banks performance in Colombia, HerfindahlHirschman Index was adopted to calculate market concentration of thebanking sector through the use of deposit size of the various selectedbanks from their Annual Report. This test was done to draw the correlation between segmentationadoption and banks performance in Colombia.
In this study, a positive correlation coefficient shows a positive relationship between market segmentation and bank performance. However, a negative coefficient indicates a negative relationshipbetween market segmentation and bank performance. For exampleif X 1 represent business development or market share as calculatedusing HHI and Y 1 represent the profitability rate among the selectedcommercial banks: According to Hofstede et al. To make sure the information provided was reliable, valid andauthentic, primary sources which focus on survey research strategywas conducted [ 7 ].
The customers of the selected banks constituted thetarget population for the study. The data fromthe respondents were used to evaluate the successes of the selectedbanks.
The criteria were used to surrogate customer defection ratio bymanagement and bank consumer retention ability. The researcher usedthese questions to find out how this practice influences customer loyaltyand retention in the banking and financial industry.
The questions wereboth closed and opened ended and were designed to elicit customers views on branch loyalty, targeting and organisational product. This part of the study contains the findings obtained throughanalysis from Tier-1 Capital Ratio as of December, and HerfindalHirschman Index as well as response rate from customers based onquestionnaires to test customer retention and loyalty.
It presents adetailed discussion from the results obtained while making reference back to the literature review earlier in this article. Table 2 shows the results obtained using Tier-1 Capital Ratio and itindicates the top five banks performance in the financial industry as of in Colombia. This ratio was used to find out if their business segment such ascredit card banking, consumer banking, and commercial banking are accepted and supported by customers.
No bank can increase its tier-1 capital without first getting customers to support and patronise its products and winning of customer loyalty rely on proper segmentation practices. The idea is to investigate on how marketing segmentation practices influence the financial performance of banks.
This is because effective marketing segmentation allows banks to tailor their products and services such as lending operations and deposit to meet customer needs. The stats according to tier-1 capital show that the largest bankin Colombia as of was Bancolombia.
These banks are the bestcapitalized banks in Colombia as per their return on capital. They havehigher capital than any other bank in Colombia. This results shows thatthese banks have advantage because it has a lower regulatory capitalrequirement due to their business segment.
This reveals that thesebanks have been strong in their consumer banking segment, credit cardsegment and commercial banking segment. These banks based on theirtier-1 capital have advanced on the five elements of winning customerloyalty and have begun to translate such loyalty to better their teir-1 capital and economic. Also the researcher used Herfindal Hirschman Index to calculatethe market share of these banks in The idea was to find out ifthese banks have greatly benefited from the use of market segmentationpractices in terms of market share.
It could be seen from the table that allthe five 5 banks scored an index greater than half of the market sharein Colombia. This simply shows that these five 5 commercial bankshave total dominance in the banking and financial sector in Colombia, thanks to their effective and efficient segmentation patterns. When we also look market shares in total deposit as of , it could be seen that five 5 banks in Colombia have excellent results in their segmentation patterns and practices.
The results show that the marketplace of the banking and financial sector in Colombia is highly concentrated and the banks are characterised by its size, its oligopolistic and segmented structures Table 3. Total unconsolidated deposit and market share among sampled banks in Colombia. The result from the test showed a significantrelationship that exists between the market share of the selected banksand their total overall expenses. Cada carta de juego en el juego reduce sus posibilidades de ganar.
Un buen jugador de bingo sabe al salir de una mesa o salir del juego. Bueno, al jugar varias cartas. No se trata de leyes sobre probabilidades. Se trata de zapatos de suerte y luck. Pero el juego de pelota Bingo 75 permite al jugador ganar de 75 a 1 partido — pero para hacerlos comprensibles.
En otras palabras, no seleccione una tarjeta que contenga 21, 41, 51 y Los contrastes no deben seleccionarse para una tarjeta ganadora. De esta manera, tienes una buena variedad aleatoria. Si 10 tarjetas son transportadas por 3 personas diferentes, usted tiene 5 de esas tarjetas. Pero tenga cuidado de no exagerar, muchas tarjetas a veces pueden contar con el jugador.
Ahora es muy distractivo, y usted puede perder no menos riesgo. Por supuesto, en primer lugar, comprar algunas tarjetas y comprarlos temprano. Muchas veces, los grandes premios atraen a grandes jugadores. Recuerde, cada carta se juega — sus posibilidades se reducen.
Muchos sitios ofrecen regalos promocionales y concesiones a los nuevos miembros y miembros actuales. Mira estos grandes ofertas y crear lo mejor de tu experiencia de bingo. Hay un gran error apostando una y otra vez.
Esta apuesta en tu equipo favorito. Vea las fortalezas de su equipo favorito y vea las debilidades del equipo contrario. Es importante examinar cada aspecto de cada grupo involucrado.
El dinero en los juegos que juegas con tu equipo favorito puede ser una gran manera de ganar dinero. Toda la diferencia en el mundo de los seleccionados y esperando la oportunidad de mantener su dinero. El gran error final es similar al otro, y la gente no apuesta contra su equipo. Esto es comprensible, pero no apueste en su equipo.
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