The objectives of this study are to find out how subdivide the credit market based on benefits which people want to get using the credit card and how credit card attributes or features benefits particular segment. According to identified segment, customer profile is developed based on segment characteristics related to psychographic and behavioral variables. Also transaction style is examined to get the implication that would help enterprise develop relationship with their customer by differentiating value proposition among segments.
In order to do empirical analysis, the information was collected from 270 credit care users. They were surveyed through standardized questionnaire. After collecting the information, the hypotheses were verified through factor analysis, cluster analysis, analysis of variance and chi-square test, multi-regression analysis. The results of research are as follows:
First, the credit market is segmented into 5 customer groupings based on benefits which customer pursue using credit card.
Second, there are significant differences among segments related to behavioral & psychographic features and transaction style.
Third , transaction style is influenced by benefit sought, behavioral and psychographic features.
I hope the information getting through research give the implication to implement customer centric marketing policy and create customer value.
