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Segmentation of Czech Consumers Based on their Attitudes Towards Money

Ivan Tomek, Václav Stříteský and Radek Tahal

Central European Business Review, 2013, vol. 2013, issue 2, 19-24

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.

Keywords: consumer segmentation; consumer behavior; money attitudes; consumer typology (search for similar items in EconPapers)
JEL-codes: M31 (search for similar items in EconPapers)
Date: 2013
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Faculty of Business Administration, University of Economics, Prague

DOI: 10.18267/j.cebr.42

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