Why a Segmentation Strategy Matters for Serving the Women’s Market
Financial Service Providers are increasingly realizing that needs and preferences differ across the female economy. Differences vary depending on women’s age, class, ethnicity, marital status, religion, wealth, stage of business, profession, location and other socially defined characteristics and markers. These factors all influence and impact the way different women use and receive financial services.
Based on market research, this paper explores the following research questions:
- What are the needs and preferences of specific women’s market segments?
- How can a segmentation strategy support banks to better serve different women segments?
This working paper is intended for financial institutions, donors and other practitioners interested in utilising segmentation as a tool for understanding and serving different women’s market segments.