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

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 presented.