Formulating a strategic portfolio of profitable retail market segments for commercial banks |
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Authors: | Luis V Dominguez Albert L Page |
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Institution: | University of Miami, USA;University of Illinois Chicago, USA |
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Abstract: | A profit contribution study of commercial bank retail customers reveals systematic relationships with family life cycle, social stratification, and relative income class. The analysis leads to the conclusion that a bank's continued retail growth and profitability depend in a crucial way on its ability to attain a balanced portfolio of three key high profit market segments. To attain this mix, banks must intensify product development efforts oriented to the asset management needs of upscale customers during the later stages of the family life cycle. It is interesting to note that these three market segments are expected to attain the highest population growth rates in the decades ahead as the age distribution of the population changes. |
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Keywords: | Address reprint requests to Professor Albert L Page College of Business Administration University of Illinois Chicago Chicago Illinois 60680 USA |
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