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Segmentation of Czech Consumers Based on their Attitudes Towards Money

Author

Listed:
  • Ivan Tomek
  • Václav Stříteský
  • Radek Tahal

Abstract

Understanding current and potential customers' behavior is one of the key factors of marketing efficiency and it brings competitive advantage. Companies usually classify their customers and create client groups with similar characteristic features. Such grouping activity is called segmentation or typology. There are many possible methods to obtain data for the segmentation process (e.g. data mining, demographic segmentation, analyzing shopping behavior, media behavior or their combination). This paper concentrates on the financial behavior of the Czech population and brings a survey based on primary data. It takes into consideration aspects like attitude towards risk and savings and even aspects like money ethics and the role of money in society. Seven consumer segments that differ in attitudes towards money were identified and described.

Suggested Citation

  • Ivan Tomek & Václav Stříteský & Radek Tahal, 2013. "Segmentation of Czech Consumers Based on their Attitudes Towards Money," Central European Business Review, Prague University of Economics and Business, vol. 2013(2), pages 19-24.
    • Handle: RePEc:prg:jnlcbr:v:2013:y:2013:i:2:id:42:p:19-24
    DOI: 10.18267/j.cebr.42
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    Citations

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    Cited by:

    1. Radek Tahal & Václav Stříteský, 2014. "Loyalty Programmes and their Perception by Customers and Operators of Retail e-Shops [Věrnostní programy a jejich vnímání zákazníky a provozovateli retailových internetových obchodů]," Acta Oeconomica Pragensia, Prague University of Economics and Business, vol. 2014(4), pages 30-41.
    2. Radek Tahal, 2014. "Loyalty Programs in E-commerce and their Perception by the Young Adult Internet Population," Central European Business Review, Prague University of Economics and Business, vol. 2014(2), pages 7-13.

    More about this item

    Keywords

    consumer segmentation; consumer behavior; money attitudes; consumer typology;
    All these keywords.

    JEL classification:

    • M31 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Marketing

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