Mature Consumers in the Financial Services Marketplace - Potential Market Segments

Mature consumers are becoming the object of increasing interest and importance to both researchers and professionals in the financial services industry. This paper, using a segmentation approach, seeks to understand these consumers with regard to the decision processes underlying their choice of financial services and financial service institutions. The findings suggest that mature consumers are not homogeneous with respect to the types of services they consider important and their choice criteria. The segmental approach provides unique opportunities for designing differentiated appeals and in obtaining a profitable market position.